Narrative Update • Apr 28
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Belgian (BEL20) Food Industry Analysis
UpdatedMay 23, 2026
DataAggregated Company Financials
Companies10
- 7D1.8%
- 3M4.0%
- 1Y23.2%
- YTD26.4%
Over the last 7 days, the Food industry has remained flat, although notably Sipef declined by 4.1%. The past year has been better, since the industry has gained 23% in that time. Looking forward, earnings are forecast to grow by 9.8% annually.
Industry Valuation and Performance
Has the Belgian Food Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 23 May 2026 | €10.7b | €3.4b | €308.0m | 18.8x | 34.8x | 3.2x |
| Mon, 20 Apr 2026 | €10.0b | €3.3b | €307.0m | 17.3x | 32.5x | 3x |
| Wed, 18 Mar 2026 | €10.3b | €3.3b | €307.6m | 20.9x | 33.4x | 3.1x |
| Fri, 13 Feb 2026 | €10.5b | €3.2b | €281.5m | 19.1x | 37.2x | 3.3x |
| Sun, 11 Jan 2026 | €8.9b | €3.2b | €270.7m | 19.3x | 33x | 2.8x |
| Tue, 09 Dec 2025 | €7.9b | €3.2b | €270.8m | 18.3x | 29.1x | 2.5x |
| Thu, 06 Nov 2025 | €7.9b | €3.2b | €271.9m | 18x | 28.9x | 2.5x |
| Sat, 04 Oct 2025 | €8.0b | €3.2b | €269.8m | 18.6x | 29.8x | 2.5x |
| Mon, 01 Sep 2025 | €8.9b | €8.5b | €269.5m | 21.4x | 33x | 1.1x |
| Wed, 30 Jul 2025 | €8.1b | €8.4b | €235.0m | 20.5x | 34.4x | 1x |
| Fri, 27 Jun 2025 | €8.6b | €8.4b | €234.3m | 20.9x | 36.7x | 1x |
| Sun, 25 May 2025 | €9.1b | €8.3b | €248.3m | 24.5x | 36.5x | 1.1x |
| Tue, 22 Apr 2025 | €8.6b | €8.2b | €233.9m | 21.5x | 36.8x | 1x |
| Thu, 20 Mar 2025 | €8.7b | €8.2b | €236.5m | 21.7x | 36.6x | 1.1x |
| Sat, 15 Feb 2025 | €9.3b | €8.7b | €244.9m | 20.2x | 37.8x | 1.1x |
| Mon, 13 Jan 2025 | €10.6b | €8.6b | €236.8m | 23x | 44.6x | 1.2x |
| Wed, 11 Dec 2024 | €10.4b | €8.6b | €235.1m | 20.2x | 44.1x | 1.2x |
| Fri, 08 Nov 2024 | €11.6b | €8.4b | €238.8m | 21x | 48.6x | 1.4x |
| Sun, 06 Oct 2024 | €11.6b | €8.4b | €237.8m | 19.9x | 48.6x | 1.4x |
| Tue, 03 Sep 2024 | €11.0b | €8.4b | €238.3m | 22.3x | 46.3x | 1.3x |
| Thu, 01 Aug 2024 | €9.9b | €8.3b | €224.7m | 22.8x | 43.9x | 1.2x |
| Sat, 29 Jun 2024 | €9.6b | €8.3b | €225.5m | 21.4x | 42.6x | 1.2x |
| Mon, 27 May 2024 | €10.0b | €8.3b | €224.6m | 22x | 44.5x | 1.2x |
| Wed, 24 Apr 2024 | €9.3b | €8.1b | €223.3m | 32.9x | 41.6x | 1.2x |
| Fri, 22 Mar 2024 | €8.7b | €8.0b | €217.6m | 31.6x | 40x | 1.1x |
| Sun, 18 Feb 2024 | €9.0b | €8.0b | €215.7m | 31.4x | 41.6x | 1.1x |
| Tue, 16 Jan 2024 | €8.0b | €8.0b | €199.2m | 32.4x | 40.2x | 1x |
| Thu, 14 Dec 2023 | €8.4b | €8.0b | €200.2m | 33.7x | 41.9x | 1.1x |
| Sat, 11 Nov 2023 | €7.6b | €7.8b | €201.0m | 32.4x | 37.8x | 1x |
| Mon, 09 Oct 2023 | €7.5b | €7.8b | €201.4m | 37.8x | 37.2x | 1x |
| Wed, 06 Sep 2023 | €7.6b | €7.7b | €206.1m | 38.4x | 36.9x | 1x |
| Fri, 04 Aug 2023 | €7.8b | €7.6b | €225.5m | 43.2x | 34.7x | 1x |
| Sun, 02 Jul 2023 | €7.8b | €7.6b | €225.8m | 41.7x | 34.7x | 1x |
| Tue, 30 May 2023 | €6.8b | €7.4b | €234.2m | 41.1x | 28.9x | 0.9x |
Price to Earnings Ratio
28.9x
Current Industry PE
- Investors are pessimistic on the Belgian Food industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 35.0x which is lower than its 3-year average PE of 38.1x.
- The 3-year average PS ratio of 1.5x is lower than the industry's current PS ratio of 3.2x.
Past Earnings Growth
- The earnings for companies in the Food industry have grown 9.5% per year over the last three years.
- Meanwhile revenues for these companies have declined 23% per year.
- This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.
Industry Trends
Which industries have driven the changes within the Belgian Consumer Staples industry?
| BE Market | 2.04% | |
| Consumer Staples | 3.28% | |
| Food | 1.76% | |
| Packaged Foods and Meats | 2.41% | |
| Agricultural Products | -4.09% | |
Industry PE
- Investors are most optimistic about the Packaged Foods and Meats industry, which is trading close to its 3-year average PE ratio of 51.5x.
- Analysts are expecting annual earnings growth of 11.2%, which is lower than the prior year's growth of 18.5% per year.
- Investors are most pessimistic about the Agricultural Products industry, which is trading close to its 3-year average of 9.2x.
Forecasted Growth
- Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 11% over the next 5 years.
- However this is lower than its past earnings growth rate of 19% per year.
- In contrast, the Agricultural Products industry is expected to see its earnings decline by 2.8% 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 | |
|---|---|---|---|---|---|
| LOTB Lotus Bakeries | €10.84k | 2.5% +€211.1m | 24.2% | PE51.1x | |
| FLOB Floridienne | €55.00 | 3.8% +€19.6m | -14.1% | PE67.8x | |
| WHATS What's Cooking Group | €144.50 | 0.3% +€928.1k | 18.0% | PE19.8x |