What is an income statement waterfall?

An income statement waterfall is a bar chart that walks from total revenue down to net income, with each step showing how much a cost or tax line removes (or adds). Subtotals — gross profit, operating income, pre-tax income — are anchored to zero so the cascade reconciles exactly to the bottom line.

How much of Bunge Global S.A. (BG) revenue becomes net income?

For TTM through Q1 2026, Bunge Global S.A. turned $80.5B of revenue into $686M of net income — a net margin of 0.9%. The waterfall shows where the rest goes: cost of revenue, operating expenses, non-operating items, and taxes.

What are Bunge Global S.A. (BG) gross, operating, and net margins?

For TTM through Q1 2026, Bunge Global S.A. reported a gross margin of 4.1%, an operating margin of 1.3%, and a net margin of 0.9%. Each subtotal in the waterfall corresponds to one of these margins.

Why does Bunge Global S.A. (BG) have such a high (or low) gross margin?

Gross margin (gross profit ÷ revenue) reflects how much of each revenue dollar remains after direct production costs. Capital-light software and platform businesses often show gross margins above 60–80% because their cost of revenue is mainly hosting and support. Hardware, retail, and commodity businesses show lower gross margins because raw materials and manufacturing costs are significant. The waterfall makes this visible at a glance — the size of the "Cost of Revenue" bar relative to Revenue is the gross margin complement.

What is the difference between gross, operating, and net margin?

Gross margin = (Revenue − Cost of Revenue) ÷ Revenue. It measures production efficiency. Operating margin = Operating Income ÷ Revenue. It adds operating expenses (R&D, S&M, G&A) and measures the profitability of core operations. Net margin = Net Income ÷ Revenue. It also includes interest, other income/expense, and taxes, and represents the shareholder take after everything.

Bunge Global S.A. (BG) Income Statement Waterfall

Revenue

$80.5B

Gross Margin

+4.1%

Operating Margin

+1.3%

Net Margin

+0.9%

Income statement waterfall for Bunge Global S.A. (BG) — TTM through Q1 2026

Net income: $686M

Margin breakdown for Bunge Global S.A. (BG) — TTM through Q1 2026

Line item	Amount	Running total
Revenue	$80.5B	$80.5B
Cost of Revenue	-$77.2B	$3.33B
Gross Profit	$3.33B	$3.33B
Operating Expenses	-$2.27B	$1.07B
Operating Income	$1.07B	$1.07B
Other Income / Expense	-$156M	$911M
Pre-tax Income	$911M	$911M
Income Tax	-$194M	$717M
Other Items	-$31M	$686M
Net Income	$686M	$686M

Revenue$80.5B
Cost of Revenue-$77.2B
Gross Profit$3.33B
Operating Expenses-$2.27B
Operating Income$1.07B
Other Income / Expense-$156M
Pre-tax Income$911M
Income Tax-$194M
Other Items-$31M
Net Income$686M

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