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Brazilian (BOVESPA) Food Industry Analysis

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies12
  • 7D-1.2%
  • 3M-2.9%
  • 1Y-6.4%
  • YTD-3.7%

Over the last 7 days, the Food industry has dropped 1.2%, driven by a pullback from MBRF Global Foods of 2.4%. Overall the industry is down 6.4% in 12 months. As for the next few years, earnings are expected to grow by 29% per annum.

Industry Valuation and Performance

Has the Brazilian Food Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 09 May 2026R$60.7bR$226.3bR$3.9b15.5x15.4x0.3x
Mon, 06 Apr 2026R$68.2bR$226.3bR$3.9b16.5x17.4x0.3x
Wed, 04 Mar 2026R$67.7bR$223.2bR$5.2b13.6x12.9x0.3x
Fri, 30 Jan 2026R$64.7bR$223.6bR$4.8b12.9x13.4x0.3x
Sun, 28 Dec 2025R$64.1bR$223.8bR$4.8b12.1x13.3x0.3x
Tue, 25 Nov 2025R$64.0bR$221.8bR$4.8b11.8x13.3x0.3x
Thu, 23 Oct 2025R$48.6bR$216.6bR$5.1b11.7x9.5x0.2x
Sat, 20 Sep 2025R$84.8bR$280.8bR$8.8b11.3x9.7x0.3x
Mon, 18 Aug 2025R$88.0bR$280.2bR$8.7b10.4x10.1x0.3x
Wed, 16 Jul 2025R$89.9bR$276.0bR$8.9b10.6x10.2x0.3x
Fri, 13 Jun 2025R$91.5bR$276.5bR$9.4b9.9x9.7x0.3x
Sun, 11 May 2025R$178.4bR$682.8bR$18.2b9.8x9.8x0.3x
Tue, 08 Apr 2025R$173.7bR$690.3bR$15.8b9.5x11x0.3x
Thu, 06 Mar 2025R$146.1bR$663.5bR$16.0b8.4x9.1x0.2x
Sat, 01 Feb 2025R$167.0bR$652.6bR$15.3b10x10.9x0.3x
Mon, 30 Dec 2024R$171.9bR$657.8bR$21.1b8.4x8.2x0.3x
Wed, 27 Nov 2024R$174.7bR$657.8bR$21.1b9.3x8.3x0.3x
Fri, 25 Oct 2024R$169.5bR$631.5bR$9.8b10.3x17.3x0.3x
Sun, 22 Sep 2024R$166.6bR$631.1bR$9.7b10.9x17.1x0.3x
Tue, 20 Aug 2024R$184.0bR$631.7bR$10.2b12.4x18.1x0.3x
Thu, 18 Jul 2024R$166.5bR$614.6bR$4.7b11.9x35.2x0.3x
Sat, 15 Jun 2024R$148.2bR$613.5bR$4.2b10.7x35.5x0.2x
Mon, 13 May 2024R$140.1bR$611.3bR$863.7m11.3x162.2x0.2x
Wed, 10 Apr 2024R$136.7bR$610.8b-R$561,519,000.0011x-243.5x0.2x
Fri, 08 Mar 2024R$130.7bR$614.0b-R$2,760,762,000.0010.5x-47.3x0.2x
Sun, 04 Feb 2024R$129.8bR$603.1b-R$3,853,024,000.0010.1x-33.7x0.2x
Tue, 02 Jan 2024R$135.5bR$602.7b-R$3,848,941,000.0010.5x-35.2x0.2x
Thu, 30 Nov 2023R$133.1bR$602.7b-R$3,848,941,000.009.6x-34.6x0.2x
Sat, 28 Oct 2023R$116.4bR$610.0bR$4.0b9.2x29.3x0.2x
Mon, 25 Sep 2023R$112.8bR$609.8bR$4.0b9.9x28.1x0.2x
Wed, 23 Aug 2023R$112.3bR$609.6bR$3.8b10.3x29.5x0.2x
Fri, 21 Jul 2023R$110.6bR$615.1bR$14.2b8.8x7.8x0.2x
Sun, 18 Jun 2023R$104.8bR$614.6bR$14.4b7.7x7.3x0.2x
Tue, 16 May 2023R$95.4bR$604.2bR$14.9b8.4x6.4x0.2x
Price to Earnings Ratio

6.4x


Total Market Cap: R$95.4bTotal Earnings: R$14.9bTotal Revenue: R$604.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Food Industry Price to Earnings3Y Average 1.5x202420252026
Current Industry PE
  • Investors are optimistic on the Brazilian Food industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 15.4x which is higher than its 3-year average PE of 1.5x.
  • The industry is trading close to its 3-year average PS ratio of 0.25x.
Past Earnings Growth
  • The earnings for companies in the Food industry have declined 36% per year over the last three years,
  • Revenues have also declined 28% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Brazilian Consumer Staples industry?

BR Market-1.57%
Consumer Staples7.41%
Food-1.19%
Agricultural Products1.18%
Packaged Foods and Meats-2.30%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry which is trading above its 3-year average PE ratio of 9.3x.
    • Analysts are expecting annual earnings growth of 32.7%, which is higher than its past year's earnings decline of 28.8% per year.
  • Investors are most pessimistic about the Agricultural Products industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 11.1x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings decline of 29% per year.
  • In contrast, the Agricultural Products industry is expected to see its earnings grow by 22% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
MDIA3 M. Dias Branco Indústria e Comércio de AlimentosR$24.644.9%
+R$389.0m		4.6%PE12.5x
BEEF3 MinervaR$4.128.4%
+R$315.4m		-20.2%PE5.7x
SLCE3 SLC AgrícolaR$17.412.4%
+R$203.7m		1.3%PE15.6x
SMTO3 São MartinhoR$16.451.7%
+R$91.1m		-14.7%PE7x
TTEN3 Três Tentos Agroindustrial S/AR$16.950.9%
+R$74.9m		11.7%PE10.4x

Latest News

CAML3
R$6.32
Camil Alimentos
7D
-0.5%
1Y
42.3%
Narrative Update • May 08

CAML3: Sustainability Index Removal Will Likely Cap Future Share Upside

Analysts have held their fair value estimate for Camil Alimentos steady at R$4.50, indicating only marginal tweaks in discount rate, revenue growth, profit margin and future P/E assumptions, rather than any broad change in outlook. What's in the News Camil Alimentos S.A. has been removed from the Brazil Corporate Sustainability Index, a change that may affect how some ESG-focused funds and indices view or hold the stock (Key Developments).
BEEF3
R$4.12
Minerva
7D
8.4%
1Y
-20.2%
MBRF3
R$17.01
MBRF Global Foods
7D
-2.4%
1Y
-16.8%
TTEN3
R$16.95
Três Tentos Agroindustrial S/A
7D
0.9%
1Y
11.7%
JOPA3
R$17.58
JOSAPAR Joaquim Oliveira Participações
7D
2.8%
1Y
-20.1%
MDIA3
R$24.64
M. Dias Branco Indústria e Comércio de Alimentos
7D
4.9%
1Y
4.6%
Narrative Update • May 04

MDIA3: Upcoming Meeting Will Support Higher Future P/E And Undervalued Outlook

Analysts have slightly reduced their price target for M. Dias Branco Indústria e Comércio de Alimentos from R$26.90 to R$26.50, reflecting marginally lower assumptions for long term revenue growth and profit margins, along with a small adjustment to the future P/E input.
SMTO3
R$16.45
São Martinho
7D
1.7%
1Y
-14.7%
Narrative Update • May 02

SMTO3: Lower Future P/E Will Support Rerating Potential

Analysts have trimmed São Martinho's price target from R$37.14 to R$30.45, reflecting updated assumptions around discount rates, revenue growth, profit margins and a lower future P/E of 13.97x versus 26.28x previously. Valuation Changes Fair Value: R$37.14 to R$30.45, a reduction of around 18%, bringing the implied upside closer to current market assumptions.
JALL3
R$3.13
Jalles Machado S/A
7D
-2.2%
1Y
-24.2%
Narrative Update • May 02

JALL3: Steady Fair Value And Higher P/E Will Support Future Upside

Analysts have adjusted their price target for Jalles Machado S/A to R$6.00 from R$6.00, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples while keeping the headline fair value unchanged. Valuation Changes Fair Value: R$6.00 remains unchanged, indicating the updated inputs did not alter the headline valuation figure.
AGRO3
R$19.34
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas
7D
4.0%
1Y
-4.6%
SLCE3
R$17.41
SLC Agrícola
7D
2.4%
1Y
1.3%
Narrative Update • Apr 28

SLCE3: Governance Meeting Will Support Bullish Repricing After Index Removal

Analysts have adjusted their price target for SLC Agrícola to R$19.71, reflecting updated assumptions on discount rate, revenue growth, profit margin and future P/E, which together support this revised valuation level. What's in the News SLC Agrícola has a Special and Extraordinary Shareholders Meeting scheduled for April 28, 2026.
MNPR3
R$4.00
Minupar Participações
7D
2.3%
1Y
49.3%