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Brazilian (BOVESPA) Food Industry Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies12
  • 7D7.9%
  • 3M4.2%
  • 1Y7.0%
  • YTD3.9%

The Food industry is up 7.9% in the last week, with MBRF Global Foods up 15%. In the last 12 months, the industry was up 7.0%. Looking forward, earnings are forecast to grow by 29% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026R$65.5bR$226.2bR$4.0b11.7x16.3x0.3x
Fri, 20 Feb 2026R$63.2bR$223.2bR$5.2b13.9x12.1x0.3x
Sun, 18 Jan 2026R$64.3bR$223.8bR$4.8b12.3x13.3x0.3x
Tue, 16 Dec 2025R$65.0bR$223.8bR$4.8b12.1x13.5x0.3x
Thu, 13 Nov 2025R$65.0bR$222.3bR$4.8b12.8x13.6x0.3x
Sat, 11 Oct 2025R$47.8bR$216.6bR$5.1b11x9.3x0.2x
Mon, 08 Sep 2025R$88.7bR$280.8bR$8.8b12.4x10.1x0.3x
Wed, 06 Aug 2025R$84.6bR$275.8bR$8.8b10.4x9.6x0.3x
Fri, 04 Jul 2025R$85.9bR$276.0bR$8.9b10.6x9.7x0.3x
Sun, 01 Jun 2025R$180.4bR$718.5bR$20.3b8.8x8.9x0.3x
Tue, 29 Apr 2025R$199.1bR$681.8bR$18.2b11x10.9x0.3x
Thu, 27 Mar 2025R$171.8bR$683.9bR$18.4b9x9.3x0.3x
Sat, 22 Feb 2025R$150.9bR$653.2bR$15.0b9.4x10.1x0.2x
Mon, 20 Jan 2025R$162.5bR$660.0bR$21.1b8x7.7x0.2x
Wed, 18 Dec 2024R$188.0bR$657.8bR$21.1b8.7x8.9x0.3x
Fri, 15 Nov 2024R$175.0bR$652.0bR$12.8b10.5x13.7x0.3x
Sun, 13 Oct 2024R$158.6bR$631.5bR$9.8b10.9x16.2x0.3x
Tue, 10 Sep 2024R$169.9bR$631.1bR$9.7b11.5x17.4x0.3x
Thu, 08 Aug 2024R$158.5bR$614.6bR$4.7b10.8x33.5x0.3x
Sat, 06 Jul 2024R$163.6bR$614.3bR$4.7b11.4x34.7x0.3x
Mon, 03 Jun 2024R$148.8bR$613.5bR$4.2b10.8x35.6x0.2x
Wed, 01 May 2024R$134.8bR$610.8b-R$561,519,000.0010.3x-240.1x0.2x
Fri, 29 Mar 2024R$133.0bR$610.8b-R$561,519,000.0011.1x-236.9x0.2x
Sun, 25 Feb 2024R$123.3bR$601.8b-R$4,505,385,000.0010.4x-27.4x0.2x
Tue, 23 Jan 2024R$130.7bR$603.1b-R$3,853,024,000.0010.2x-33.9x0.2x
Thu, 21 Dec 2023R$134.1bR$602.7b-R$3,848,941,000.0010.2x-34.8x0.2x
Sat, 18 Nov 2023R$127.3bR$602.7bR$595.2m9.5x213.8x0.2x
Mon, 16 Oct 2023R$114.5bR$610.0bR$4.0b10.1x28.8x0.2x
Wed, 13 Sep 2023R$113.1bR$609.9bR$4.0b10.3x28.1x0.2x
Fri, 11 Aug 2023R$116.3bR$615.1bR$14.2b9.1x8.2x0.2x
Sun, 09 Jul 2023R$106.9bR$614.8bR$14.2b8.6x7.5x0.2x
Tue, 06 Jun 2023R$101.0bR$614.6bR$14.4b7.5x7x0.2x
Thu, 04 May 2023R$94.1bR$607.0bR$21.6b7.3x4.3x0.2x
Sat, 01 Apr 2023R$93.0bR$607.0bR$21.6b8.8x4.3x0.2x
Price to Earnings Ratio

4.3x


Total Market Cap: R$93.0bTotal Earnings: R$21.6bTotal Revenue: R$607.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Food Industry Price to Earnings3Y Average 1x202420252026
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 16.3x which is higher than its 3-year average PE of 1.0x.
  • The industry is trading close to its 3-year average PS ratio of 0.24x.
Past Earnings Growth
  • The earnings for companies in the Food industry have declined 43% 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 Market1.22%
Consumer Staples1.28%
Food7.87%
Packaged Foods and Meats10.44%
Agricultural Products2.45%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry which is trading above its 3-year average PE ratio of 8.7x.
    • Analysts are expecting annual earnings growth of 32.8%, 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 10.9x.
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 21% 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
MBRF3 MBRF Global FoodsR$19.6215.2%
+R$3.6b		13.3%PE77.2x
SMTO3 São MartinhoR$19.959.7%
+R$581.6m		-5.5%PE8.5x
TTEN3 Três Tentos Agroindustrial S/AR$15.403.9%
+R$289.7m		7.8%PE9.4x
SLCE3 SLC AgrícolaR$18.482.6%
+R$233.5m		13.9%PE16.5x
JALL3 Jalles Machado S/AR$3.397.6%
+R$72.4m		-18.1%PE22x

Latest News

SOJA3
R$7.69
Boa Safra Sementes
7D
-5.3%
1Y
-21.3%
BEEF3
R$4.15
Minerva
7D
-3.5%
1Y
-28.3%

Minerva's (BVMF:BEEF3) Earnings Are Of Questionable Quality

Mar 25
Minerva's (BVMF:BEEF3) Earnings Are Of Questionable Quality
MBRF3
R$19.62
MBRF Global Foods
7D
15.2%
1Y
13.3%
SLCE3
R$18.48
SLC Agrícola
7D
2.6%
1Y
13.9%

Brazil Cotton Export Leadership And Irrigation Expansion Will Support Stronger Long Term Earnings Resilience

Catalysts About SLC Agrícola SLC Agrícola is a Brazilian agribusiness company focused on large scale production of soybeans, cotton, corn and seeds. What are the underlying business or industry changes driving this perspective?
AGXY3
R$2.20
AgroGalaxy Participações
7D
-2.2%
1Y
-71.2%
JALL3
R$3.39
Jalles Machado S/A
7D
7.6%
1Y
-18.1%

JALL3: Index Removal And Refined Assumptions Will Support Future Upside

Analysts have kept their R$6.00 price target for Jalles Machado S/A unchanged, citing slightly adjusted assumptions for discount rate, revenue growth, profit margin and future P/E as they refine their view of the stock’s risk and earnings profile. What's in the News Jalles Machado S/A has been removed from the Brazil Small Cap Index, which may influence how index-focused and benchmark-focused investors view and access the stock (Key Developments).
SMTO3
R$19.95
São Martinho
7D
9.7%
1Y
-5.5%

SMTO3: Special Meeting Will Highlight Risky Earnings Assumptions Behind Higher Fair Value

Analysts have lifted their São Martinho price target from R$13.90 to R$14.80, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E, which together support a higher fair value estimate. What's in the News São Martinho has scheduled a Special and Extraordinary Shareholders Meeting for February 6, 2026, at Fazenda São Martinho in the city of Pradópolis, state of São Paulo, Brazil (Key Developments).
MNPR3
R$4.20
Minupar Participações
7D
-1.9%
1Y
43.9%
MDIA3
R$21.86
M. Dias Branco Indústria e Comércio de Alimentos
7D
0.9%
1Y
-4.7%
TTEN3
R$15.40
Três Tentos Agroindustrial S/A
7D
3.9%
1Y
7.8%

TTEN3: Capital Increase Plan Will Support A More Optimistic Future Outlook

Analysts now set their fair value estimate for Três Tentos Agroindustrial S/A at R$21.40, up slightly from R$21.03, reflecting adjustments to revenue growth and profit margin assumptions alongside a higher future P/E input. What's in the News A board meeting is scheduled for December 30, 2025, to consider an increase in Três Tentos Agroindustrial S/A's share capital, which could affect the total number of shares and the future capital structure (Key Developments).
AGRO3
R$20.77
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas
7D
0.8%
1Y
-5.6%

AGRO3: Future Returns Will Be Supported By New Production Guidance And Margins

Analysts have kept their R$25.00 price target for BrasilAgro unchanged, citing slightly higher modeled revenue growth, a modestly stronger profit margin, and a marginally lower forward P/E assumption in their updated views. What's in the News BrasilAgro issued new production guidance for the 2025 to 2026 cycle, giving investors clearer visibility on expected operating volumes (Key Developments).
CAML3
R$5.64
Camil Alimentos
7D
-3.3%
1Y
44.2%

CAML3: Stable Fair Value And Slightly Higher Margins Will Support Repricing

Analysts have slightly adjusted their price target for Camil Alimentos to R$10.00, reflecting updated assumptions on discount rate, revenue growth, profit margins and future P/E. These changes collectively suggest a modest refinement rather than a major shift in their outlook.