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U.S. Food Industry Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies145
  • 7D-0.9%
  • 3M-2.8%
  • 1Y-9.4%
  • YTD2.3%

Last week, the Food industry hasn't moved much but J. M. Smucker is up 7.4% in that time. As for the longer term, the industry has declined 9.3% in the last year. Looking forward, earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

Has the U.S. Food Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026US$401.8bUS$557.8bUS$9.9b21.4x40.4x0.7x
Thu, 19 Mar 2026US$410.8bUS$555.9bUS$9.7b20.7x42.4x0.7x
Sat, 14 Feb 2026US$437.7bUS$556.2bUS$10.0b24.4x43.9x0.8x
Mon, 12 Jan 2026US$391.7bUS$555.7bUS$14.3b21.7x27.3x0.7x
Wed, 10 Dec 2025US$423.3bUS$570.7bUS$17.0b21.5x24.8x0.7x
Fri, 07 Nov 2025US$414.3bUS$568.8bUS$17.9b18.5x23.2x0.7x
Sun, 05 Oct 2025US$444.0bUS$553.4bUS$16.2b18x27.4x0.8x
Tue, 02 Sep 2025US$449.2bUS$555.0bUS$16.0b20.7x28.1x0.8x
Thu, 31 Jul 2025US$460.7bUS$548.6bUS$24.2b19.7x19.1x0.8x
Sat, 28 Jun 2025US$444.2bUS$548.9bUS$23.2b19.1x19.2x0.8x
Mon, 26 May 2025US$426.1bUS$468.1bUS$22.5b19.1x18.9x0.9x
Wed, 23 Apr 2025US$443.7bUS$472.3bUS$24.8b17.4x17.9x0.9x
Fri, 21 Mar 2025US$439.6bUS$471.5bUS$24.3b17.5x18.1x0.9x
Sun, 16 Feb 2025US$435.1bUS$475.9bUS$25.7b19.3x16.9x0.9x
Tue, 14 Jan 2025US$422.9bUS$461.6bUS$21.1b19.6x20x0.9x
Thu, 12 Dec 2024US$466.5bUS$464.4bUS$21.6b20.5x21.6x1x
Sat, 09 Nov 2024US$467.1bUS$460.6bUS$21.7b18.7x21.5x1x
Mon, 07 Oct 2024US$487.4bUS$462.1bUS$22.6b18.5x21.5x1.1x
Wed, 04 Sep 2024US$492.5bUS$461.5bUS$22.2b21.6x22.1x1.1x
Fri, 02 Aug 2024US$474.2bUS$461.9bUS$21.7b19.3x21.8x1x
Sun, 30 Jun 2024US$457.1bUS$473.4bUS$25.1b14.5x18.2x1x
Tue, 28 May 2024US$479.4bUS$474.1bUS$24.3b17.6x19.7x1x
Thu, 25 Apr 2024US$485.4bUS$476.3bUS$24.6b16.9x19.7x1x
Sat, 23 Mar 2024US$486.2bUS$473.0bUS$24.7b15.3x19.7x1x
Mon, 19 Feb 2024US$465.5bUS$478.2bUS$24.9b14.8x18.7x1x
Wed, 17 Jan 2024US$494.7bUS$489.9bUS$25.4b15.9x19.4x1x
Fri, 15 Dec 2023US$503.7bUS$490.1bUS$25.5b16.9x19.8x1x
Sun, 12 Nov 2023US$472.0bUS$490.1bUS$26.5b16x17.8x1x
Tue, 10 Oct 2023US$467.7bUS$494.5bUS$26.4b17.3x17.7x0.9x
Thu, 07 Sep 2023US$501.2bUS$491.4bUS$26.4b15.6x19x1x
Sat, 05 Aug 2023US$542.5bUS$491.0bUS$27.4b17.4x19.8x1.1x
Mon, 03 Jul 2023US$542.6bUS$499.6bUS$26.6b17.3x20.4x1.1x
Wed, 31 May 2023US$547.3bUS$499.2bUS$27.6b18x19.8x1.1x
Fri, 28 Apr 2023US$574.2bUS$496.0bUS$28.1b18.6x20.5x1.2x
Price to Earnings Ratio

20.5x


Total Market Cap: US$574.2bTotal Earnings: US$28.1bTotal Revenue: US$496.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Food Industry Price to Earnings3Y Average 22.3x202420252026
Current Industry PE
  • Investors are optimistic on the American Food industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 40.4x which is higher than its 3-year average PE of 22.3x.
  • The industry is trading close to its 3-year average PS ratio of 0.94x.
Past Earnings Growth
  • The earnings for companies in the Food industry have declined 29% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.0% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the U.S. Consumer Staples industry?

US Market3.58%
Consumer Staples1.43%
Food-0.89%
Packaged Foods and Meats-0.62%
Agricultural Products-1.95%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry which is trading above its 3-year average PE ratio of 24.5x.
    • Analysts are expecting annual earnings growth of 19.4%, which is higher than its past year's earnings decline of 6.9% 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 15.1x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Products industry, expecting annual earnings growth of 24% over the next 5 years.
  • This is better than its past earnings decline of 32% per year.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 19% 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
SJM J. M. SmuckerUS$96.147.4%
+US$704.9m		-17.0%PS1.1x
LW Lamb Weston HoldingsUS$46.008.8%
+US$513.6m		-10.7%PE21.2x
HRL Hormel FoodsUS$21.334.2%
+US$467.7m		-29.8%PE24x
GIS General MillsUS$35.282.1%
+US$384.3m		-38.8%PE8.5x
CPB Campbell'sUS$21.265.4%
+US$325.0m		-43.4%PE11.5x

Latest News

MZTI
US$133.25
Marzetti
7D
-7.0%
1Y
-29.9%
MKC
US$52.85
McCormick
7D
-2.3%
1Y
-29.2%

McCormick: A Merger With Unilever's Food Business Will Drive Growth

Apr 20
SJM
US$96.14
J. M. Smucker
7D
7.4%
1Y
-17.0%
BYND
US$1.16
Beyond Meat
7D
75.8%
1Y
-56.6%

BYND: New Distribution Agreements Will Define The Next Phase Of Recovery

Analysts have reduced their average Beyond Meat price targets by a few dollars, reflecting updated views that now incorporate softer revenue expectations, a lower discount rate, and a higher assumed future P/E multiple. Analyst Commentary Recent Street research on Beyond Meat has centered on modestly lower price targets, with several firms adjusting their models to reflect updated revenue assumptions and valuation inputs.
HSY
US$191.45
Hershey
7D
-3.1%
1Y
15.0%

HSY: Cocoa Cost Normalization Will Shape Future Earnings Resilience

Hershey's updated analyst price target edges lower by about $2, as analysts weigh slightly higher revenue growth and margin expectations against a modestly reduced future P/E, along with a series of recent target cuts and rating shifts across the Street. Analyst Commentary Recent Street research shows a mix of optimism and caution on Hershey, with several firms adjusting price targets higher or lower and a few making rating changes that affect how investors may think about valuation and execution risk.
POST
US$104.06
Post Holdings
7D
4.2%
1Y
-8.7%

POST: Ongoing Share Repurchases Will Support Future Upside Potential

Analysts now estimate fair value for Post Holdings at about $124.43 per share, compared with the prior estimate of $130.13. This reflects updated assumptions around revenue growth, profit margins, a slightly higher discount rate, and a lower expected future P/E multiple.
CPB
US$21.26
Campbell's
7D
5.4%
1Y
-43.4%

Campbell's Vs General Mills: The Race For The Stronger Turnaround

Apr 17
CAG
US$14.84
Conagra Brands
7D
2.3%
1Y
-41.6%

CAG: Higher Leverage And Tight Dividends Will Shape Cautious Future Returns

Analysts have trimmed their average price target on Conagra Brands, with reductions from multiple firms resulting in a lower consolidated target in the low to mid $10s. They cite valuation concerns, slightly softer revenue growth assumptions, and sector wide caution on earnings and leverage, even as profit margin expectations edge higher and the assumed future P/E multiple shifts modestly.
TSN
US$63.67
Tyson Foods
7D
-1.2%
1Y
4.7%

TSN: Beef Margin Recovery And Sales Momentum Will Support Future Earnings Power

Narrative Update on Tyson Foods The analyst price target for Tyson Foods remains unchanged, with analysts pointing to sales momentum, recent upgrades and initiations, and updated views on future profitability and P/E assumptions as key drivers behind the refreshed outlook. Analyst Commentary Recent Street research around Tyson Foods reflects a mix of optimism and caution, with several bullish analysts updating ratings and price targets, while others remain more skeptical.
DAR
US$59.08
Darling Ingredients
7D
-3.8%
1Y
95.2%

DAR: EPA RFS Mandates And Q4 Results Will Drive Upside Potential

Analysts have raised their price targets on Darling Ingredients, increasing the fair value estimate from $64.08 to $68.33. They cite updated views on growth, margins, and future P/E assumptions, supported by a series of recent target increases across major research firms.
ADM
US$68.37
Archer-Daniels-Midland
7D
-2.1%
1Y
42.2%
LW
US$46.00
Lamb Weston Holdings
7D
8.8%
1Y
-10.7%

LW: Future Outlook Will Weigh Activist Cost Push Against Competitive Earnings Pressure

Analysts have trimmed the fair value estimate for Lamb Weston Holdings to $40.00 from $46.00, citing a wave of reduced Street price targets and concerns around earnings pressure and global competitive headwinds, while updated assumptions reflect mixed shifts in growth, margins and expected P/E levels. Analyst Commentary Recent Street research around Lamb Weston points to a clear tilt toward caution, with a cluster of lowered price targets and more guarded narratives around earnings and competitive positioning.
MDLZ
US$57.31
Mondelez International
7D
-0.6%
1Y
-15.4%

Mondelez: Durable Snacking With Volume And Price Tailwinds Entering FY2026 - Reiterate Buy

Apr 14
HRL
US$21.33
Hormel Foods
7D
4.2%
1Y
-29.8%

HRL: 2026 Guidance And AI Rollout Will Drive Upside Potential

Analysts trimmed their price target on Hormel Foods to $27.00 from $27.63, reflecting slightly softer revenue growth assumptions and a modestly lower future P/E multiple, partly offset by a small improvement in projected profit margins. Analyst Commentary Recent research on Hormel Foods points to a more cautious stance, with the latest JPMorgan downgrade and the trimmed price target signaling mixed confidence in how the current valuation lines up with execution and profit expectations.
PPC
US$33.03
Pilgrim's Pride
7D
-7.3%
1Y
-38.4%
GIS
US$35.28
General Mills
7D
2.1%
1Y
-38.8%

GIS: Promotional Reset And Clean Label Shift Will Support Gradual Category Recovery

Analysts have trimmed the General Mills fair value estimate by about $0.63 to $40.89. This reflects a series of reduced price targets in recent research that highlight softer volume trends, higher promotional intensity, and an extended timeline for any potential recovery in key categories like cereal, pet food, and snacks.