Narrative Update • May 22
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Australian (ASX) Food Industry Analysis
UpdatedMay 31, 2026
DataAggregated Company Financials
Companies26
- 7D2.0%
- 3M-6.3%
- 1Y-6.0%
- YTD-14.9%
The Food industry is up 2.0% in the last week, with Cobram Estate Olives up 5.1%. Meanwhile, Elders actually underperformed within the industry, shrinking 5.4% in the last week. In the past year, the industry is down 6.0%. As for the next few years, earnings are expected to grow by 18% per annum.
Industry Valuation and Performance
Has the Australian Food Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 01 Jun 2026 | AU$10.7b | AU$22.8b | AU$331.8m | 14.3x | 32.2x | 0.5x |
| Wed, 29 Apr 2026 | AU$11.2b | AU$22.7b | AU$322.4m | 15.6x | 34.8x | 0.5x |
| Fri, 27 Mar 2026 | AU$11.0b | AU$22.7b | AU$322.4m | 17.9x | 34.1x | 0.5x |
| Sun, 22 Feb 2026 | AU$11.3b | AU$22.4b | AU$367.4m | 14x | 30.6x | 0.5x |
| Tue, 20 Jan 2026 | AU$10.8b | AU$15.0b | AU$351.9m | 14.5x | 30.7x | 0.7x |
| Thu, 18 Dec 2025 | AU$10.3b | AU$15.0b | AU$347.2m | 15.3x | 29.5x | 0.7x |
| Sat, 15 Nov 2025 | AU$10.4b | AU$15.4b | AU$311.2m | 15.4x | 33.3x | 0.7x |
| Mon, 13 Oct 2025 | AU$10.4b | AU$15.4b | AU$311.2m | 15.2x | 33.4x | 0.7x |
| Wed, 10 Sep 2025 | AU$10.3b | AU$15.4b | AU$311.0m | 13.6x | 33.1x | 0.7x |
| Fri, 08 Aug 2025 | AU$9.9b | AU$15.4b | AU$283.3m | 24.8x | 34.8x | 0.6x |
| Sun, 06 Jul 2025 | AU$9.4b | AU$15.5b | AU$241.7m | 24.5x | 38.8x | 0.6x |
| Tue, 03 Jun 2025 | AU$9.3b | AU$15.5b | AU$233.9m | 23.6x | 39.6x | 0.6x |
| Thu, 01 May 2025 | AU$9.0b | AU$15.4b | AU$211.9m | 25.8x | 42.7x | 0.6x |
| Sat, 29 Mar 2025 | AU$9.1b | AU$15.2b | AU$237.4m | 27.6x | 38.4x | 0.6x |
| Mon, 24 Feb 2025 | AU$9.3b | AU$15.1b | AU$142.0m | 24.3x | 65.2x | 0.6x |
| Wed, 22 Jan 2025 | AU$9.3b | AU$15.1b | AU$127.8m | 23.9x | 73x | 0.6x |
| Fri, 20 Dec 2024 | AU$8.7b | AU$15.1b | AU$123.9m | 23.3x | 70.3x | 0.6x |
| Sun, 17 Nov 2024 | AU$8.7b | AU$14.8b | -AU$23,035,540.53 | 21.5x | -379.2x | 0.6x |
| Tue, 15 Oct 2024 | AU$8.6b | AU$14.8b | -AU$22,799,534.66 | 20.4x | -377.8x | 0.6x |
| Thu, 12 Sep 2024 | AU$8.4b | AU$15.0b | -AU$80,470,218.29 | 19x | -104.6x | 0.6x |
| Sat, 10 Aug 2024 | AU$8.2b | AU$14.8b | -AU$342,502,416.55 | 16.3x | -24.1x | 0.6x |
| Mon, 08 Jul 2024 | AU$8.0b | AU$14.8b | -AU$344,268,440.48 | 15.9x | -23.3x | 0.5x |
| Wed, 05 Jun 2024 | AU$8.0b | AU$14.7b | -AU$342,833,851.22 | 15.6x | -23.4x | 0.5x |
| Fri, 03 May 2024 | AU$8.1b | AU$15.0b | -AU$460,970,098.92 | 15.1x | -17.5x | 0.5x |
| Sun, 31 Mar 2024 | AU$8.4b | AU$15.0b | -AU$461,077,086.20 | 16.7x | -18.2x | 0.6x |
| Tue, 27 Feb 2024 | AU$8.2b | AU$15.0b | -AU$448,909,186.49 | 14.1x | -18.3x | 0.5x |
| Thu, 25 Jan 2024 | AU$12.3b | AU$18.5b | -AU$499,348,389.00 | 20.6x | -24.6x | 0.7x |
| Sat, 23 Dec 2023 | AU$11.9b | AU$18.5b | -AU$498,111,365.00 | 21.4x | -23.9x | 0.6x |
| Mon, 20 Nov 2023 | AU$11.7b | AU$18.4b | -AU$495,919,896.00 | 24.1x | -23.6x | 0.6x |
| Wed, 18 Oct 2023 | AU$11.2b | AU$18.7b | -AU$318,407,656.00 | 22.9x | -35.1x | 0.6x |
| Fri, 15 Sep 2023 | AU$11.1b | AU$18.7b | -AU$317,068,874.00 | 22.6x | -35.1x | 0.6x |
| Sun, 13 Aug 2023 | AU$11.6b | AU$18.1b | -AU$71,714,947.00 | 32.5x | -161.3x | 0.6x |
| Tue, 11 Jul 2023 | AU$11.2b | AU$18.1b | -AU$71,938,198.00 | 32.8x | -155.1x | 0.6x |
| Thu, 08 Jun 2023 | AU$10.8b | AU$18.0b | -AU$75,943,616.00 | 28.2x | -141.6x | 0.6x |
Price to Earnings Ratio
-141.6x
Current Industry PE
- Investors are optimistic on the Australian Food industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 32.2x which is higher than its 3-year average PE of -22.1x.
- The industry is trading close to its 3-year average PS ratio of 0.60x.
Past Earnings Growth
- Total earnings for the Food industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 8.2% per year.
- This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.
Industry Trends
Which industries have driven the changes within the Australian Consumer Staples industry?
| AU Market | 0.98% | |
| Consumer Staples | 0.72% | |
| Food | 2.05% | |
| Packaged Foods and Meats | 2.82% | |
| Agricultural Products | 0.83% | |
Industry PE
- Investors are most optimistic about the Agricultural Products industry even though it's trading below its 3-year average PE ratio of 50.8x.
- Analysts are expecting annual earnings growth of 26.7%, which is higher than its past year's earnings decline of 8.4% per year.
- Investors are most pessimistic about the Packaged Foods and Meats industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 8.9x.
Forecasted Growth
- Analysts are most optimistic on the Agricultural Products industry, expecting annual earnings growth of 27% over the next 5 years.
- This is better than its past earnings decline of 8.4% per year.
- In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 12% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| CBO Cobram Estate Olives | AU$4.12 | 5.1% +AU$95.8m | 105.0% | PE46.8x | |
| RIC Ridley | AU$2.82 | 4.8% +AU$48.7m | 4.4% | PE14.3x | |
| ING Inghams Group | AU$2.09 | 6.6% +AU$48.3m | -44.3% | PE13.8x | |
| BGA Bega Cheese | AU$5.52 | 2.4% +AU$39.7m | 1.3% | PE205.7x | |
| GNC GrainCorp | AU$4.93 | 3.6% +AU$36.8m | -35.8% | PS0.2x |