Reasonable estimation of the bearing capacity of bulbs is essential for the design of squeezed branch pile (SBP) foundations, and existing analytical methods cannot be applied to SBPs. This study investigated the bearing capacity of bulbs by model tests, field tests, and theoretical and numerical analysis. From the laboratory model loading test and transparent soil model test assisted by particle image velocimetry technology, the bearing features of SBPs and the displacement field around a bulb under failure state were investigated, respectively. It was found from the tests that the bulb’s bearing ratio is up to approximately 50% out of the total applied load to the pile at failure. Furthermore, by referring to Meyerhof’s theory of bearing capacity for deep foundations, an analytical method was proposed to calculate the bearing capacity of a bulb for an SBP considering its unique geometry. Finally, field tests with a real-size SBP and numerical study were conducted to verify the proposed method. The ultimate bearing capacity (UBC) of the bulb estimated by the proposed method has an acceptable difference of 4.21% from the model test and 17.6% from the numerical field cases. The proposed solution can be used as an effective explicit solution to evaluate the UBC of the single bulb of SBPs considering the pile’s dimensions and soil parameters.