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U.S. Food Industry Analysis

UpdatedMar 06, 2026
DataAggregated Company Financials
Companies146
  • 7D-3.0%
  • 3M6.9%
  • 1Y-5.3%
  • YTD8.0%

Over the last 7 days, the Food industry has dropped 3.0%, driven by a pullback from Mondelez International of 5.5%. Meanwhile, Cal-Maine Foods actually outperformed within the industry, gaining 6.6% in the last week. However, the industry is down 5.3% over the past year. Looking forward, earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 06 Mar 2026US$426.4bUS$556.6bUS$10.1b23.3x42.4x0.8x
Sun, 01 Feb 2026US$420.5bUS$550.1bUS$13.8b21.2x30.4x0.8x
Tue, 30 Dec 2025US$390.9bUS$555.9bUS$14.5b20.1x27x0.7x
Thu, 27 Nov 2025US$426.6bUS$569.1bUS$17.3b20.9x24.7x0.7x
Sat, 25 Oct 2025US$433.5bUS$552.2bUS$16.2b18.3x26.7x0.8x
Mon, 22 Sep 2025US$439.8bUS$556.3bUS$16.5b18.2x26.6x0.8x
Wed, 20 Aug 2025US$444.3bUS$553.6bUS$16.2b20.9x27.5x0.8x
Fri, 18 Jul 2025US$447.2bUS$547.8bUS$24.0b19.1x18.7x0.8x
Sun, 15 Jun 2025US$445.6bUS$548.1bUS$23.4b19.2x19x0.8x
Tue, 13 May 2025US$434.3bUS$468.0bUS$22.7b19.1x19.2x0.9x
Thu, 10 Apr 2025US$422.5bUS$471.5bUS$24.5b16.9x17.2x0.9x
Sat, 08 Mar 2025US$452.9bUS$471.6bUS$24.4b18.3x18.6x1x
Mon, 03 Feb 2025US$439.8bUS$478.3bUS$22.2b20.3x19.8x0.9x
Wed, 01 Jan 2025US$442.1bUS$464.3bUS$21.6b19.9x20.5x1x
Fri, 29 Nov 2024US$471.7bUS$459.4bUS$21.2b19.9x22.2x1x
Sun, 27 Oct 2024US$477.0bUS$462.0bUS$22.5b17.8x21.2x1x
Tue, 24 Sep 2024US$497.6bUS$461.6bUS$22.2b19.7x22.4x1.1x
Thu, 22 Aug 2024US$487.3bUS$461.1bUS$22.2b20.4x22x1.1x
Sat, 20 Jul 2024US$473.9bUS$472.7bUS$24.4b18.1x19.4x1x
Mon, 17 Jun 2024US$455.3bUS$473.6bUS$25.1b14.5x18.1x1x
Wed, 15 May 2024US$494.2bUS$474.0bUS$24.3b15.6x20.3x1x
Fri, 12 Apr 2024US$475.4bUS$472.1bUS$24.7b16.8x19.2x1x
Sun, 10 Mar 2024US$473.4bUS$477.1bUS$24.9b15.1x19x1x
Tue, 06 Feb 2024US$477.4bUS$483.8bUS$25.0b15.8x19.1x1x
Thu, 04 Jan 2024US$502.3bUS$489.9bUS$25.6b17.1x19.6x1x
Sat, 02 Dec 2023US$478.4bUS$490.4bUS$25.5b15.9x18.8x1x
Mon, 30 Oct 2023US$457.1bUS$489.2bUS$26.1b17.1x17.5x0.9x
Wed, 27 Sep 2023US$496.8bUS$491.2bUS$26.2b18.3x18.9x1x
Fri, 25 Aug 2023US$512.9bUS$491.0bUS$26.3b16.2x19.5x1x
Sun, 23 Jul 2023US$550.0bUS$494.2bUS$26.1b17.5x21x1.1x
Tue, 20 Jun 2023US$554.4bUS$499.3bUS$26.7b16.9x20.7x1.1x
Thu, 18 May 2023US$569.3bUS$499.1bUS$27.6b18.8x20.6x1.1x
Sat, 15 Apr 2023US$562.7bUS$495.6bUS$28.2b18.4x20x1.1x
Mon, 13 Mar 2023US$529.7bUS$493.6bUS$28.0b16.4x18.9x1.1x
Price to Earnings Ratio

18.9x


Total Market Cap: US$529.7bTotal Earnings: US$28.0bTotal Revenue: US$493.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Food Industry Price to Earnings3Y Average 21.5x202420252026
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 42.4x which is higher than its 3-year average PE of 21.5x.
  • The industry is trading close to its 3-year average PS ratio of 0.96x.
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 4.1% 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 Market-1.24%
Consumer Staples-3.07%
Food-3.05%
Agricultural Products-2.34%
Packaged Foods and Meats-3.21%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry which is trading above its 3-year average PE ratio of 23.6x.
    • Analysts are expecting annual earnings growth of 19.0%, which is higher than its past year's earnings decline of 0.08% 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 14.2x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Products industry, expecting annual earnings growth of 21% 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
CALM Cal-Maine FoodsUS$89.356.6%
+US$262.1m		8.1%PE3.7x
FRPT FreshpetUS$85.194.8%
+US$192.8m		-6.5%PE30x
AGRO AdecoagroUS$9.709.9%
+US$123.1m		-9.3%PE58.6x
DAR Darling IngredientsUS$53.200.5%
+US$61.8m		62.3%PE134.3x
TR Tootsie Roll IndustriesUS$41.391.6%
+US$52.1m		36.7%PE31.1x

Latest News

GIS
US$43.57
General Mills
7D
-3.0%
1Y
-30.0%
BGS
US$5.58
B&G Foods
7D
4.3%
1Y
-19.1%
MKC
US$65.27
McCormick
7D
-5.8%
1Y
-20.3%

MKC: Reset Long Term Goals And Brand Collaborations Will Support Future Margin Path

The analyst price target for McCormick has been reduced by several firms in recent research. Our updated fair value estimate has edged up to $73.85 from $73.31 as analysts factor in the pullback of the company’s longer term 2028 goals, along with modest tweaks to revenue growth, margin and future P/E assumptions.
TSN
US$62.06
Tyson Foods
7D
-2.4%
1Y
2.5%

TSN: Beef Margin Recovery And Regulatory Breakup Risks Will Shape Returns

Analysts have increased their price targets on Tyson Foods by $3 to $9, citing expectations for steadier beef margins alongside solid chicken and pork fundamentals. They believe these factors support a slightly higher revenue growth outlook, firmer profit margins, and a modestly lower future P/E in updated models.
DAR
US$53.20
Darling Ingredients
7D
0.5%
1Y
62.3%

DAR: Fair Outlook Balances Q4 EBITDA Expectations And Collagen Joint Venture Execution

Analysts have raised their fair value estimate for Darling Ingredients from $45.00 to $55.00. They cited refreshed models that reflect updated assumptions on revenue growth, profit margins, and future P/E ratios, following a wave of recent price target increases across the Street.
CALM
US$89.35
Cal-Maine Foods
7D
6.6%
1Y
8.1%
BG
US$113.20
Bunge Global
7D
-5.2%
1Y
51.6%
CPB
US$25.06
Campbell's
7D
-6.7%
1Y
-37.0%

CPB: Softer Scanner Trends And Category Pressures Will Shape Balanced Forward Expectations

Analysts have trimmed their average price target on Campbell's by a few dollars to reflect softer Nielsen scanner trends in both Meals & Beverages and Snacks. Updated assumptions now point to Q2 organic sales growth of 2% for Meals & Beverages and a 4.5% decline for Snacks.
TR
US$41.39
Tootsie Roll Industries
7D
1.6%
1Y
36.7%
FDP
US$42.50
Fresh Del Monte Produce
7D
1.0%
1Y
39.3%

FDP: Higher Margin Outlook And Buybacks Will Support Stronger Future Upside

Analysts have raised their fair value estimate for Fresh Del Monte Produce to $52 from $46, citing updated assumptions around discount rates, profit margins, and a lower future P/E multiple as the key drivers of this change. What's in the News Fresh Del Monte Produce reported completing a share repurchase of 865,773 shares, representing 1.81% of its shares, for a total of US$29.81 million under a buyback authorized on February 24, 2025 (Key Developments).
FRPT
US$85.19
Freshpet
7D
4.8%
1Y
-6.5%
AGRO
US$9.70
Adecoagro
7D
9.9%
1Y
-9.3%

AGRO: Profertil Commodity Risks Will Limit Upside After Capital Raise

Analysts have raised their price targets on Adecoagro, with Citi initiating coverage at $13 and BofA lifting its target to $9 from $7.50, citing an expectation of long term support from sugar prices as well as additional earnings contribution and diversification potential from the Profertil acquisition. Analyst Commentary Recent coverage has highlighted both the potential upside tied to sugar pricing and the added earnings contribution that could come from the Profertil acquisition.
MDLZ
US$58.18
Mondelez International
7D
-5.5%
1Y
-14.1%

MDLZ: Steady Guidance And Buybacks Will Support Margins And Future Re Rating

The analyst price target for Mondelez International edges slightly higher to $66.92, as analysts keep estimates broadly steady and point to relatively unchanged guidance at the recent CAGNY conference while adjusting expectations across the wider U.S. food group. Analyst Commentary Recent research around the 2026 CAGNY conference paints a mixed but generally constructive picture for Mondelez, with most commentary focused on how resilient its guidance looks compared with other large U.S. food names and how that feeds into valuation resets across the group.
HSY
US$226.58
Hershey
7D
-2.1%
1Y
25.9%

HSY: Easing Cocoa Costs Will Support Reinvestment And Future Earnings Power

Our fair value estimate for Hershey has been updated to $267 from $224, reflecting a series of higher analyst price targets that cite easing cocoa costs, tariff relief, and increased flexibility to reinvest in growth. Analyst Commentary Recent Street research on Hershey has tilted clearly bullish, with a cluster of higher price targets and at least one rating upgrade as cocoa and tariff headwinds ease.
SEB
US$5,028.83
Seaboard
7D
0.8%
1Y
83.9%
JBS
US$15.65
JBS
7D
-5.9%
1Y
n/a