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U.S. Food Industry Analysis

UpdatedJan 19, 2026
DataAggregated Company Financials
Companies149
  • 7D2.9%
  • 3M-1.9%
  • 1Y-6.2%
  • YTD4.0%

In the last week, the Food industry is up 2.9%, with Mondelez International up 4.2%. However, the industry is down 6.2% over the past year. As for the next few years, earnings are expected to grow by 19% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 19 Jan 2026US$403.4bUS$555.7bUS$14.4b21.3x28.1x0.7x
Wed, 17 Dec 2025US$397.4bUS$558.1bUS$15.8b19.9x25.2x0.7x
Fri, 14 Nov 2025US$420.6bUS$570.3bUS$17.3b18.5x24.3x0.7x
Sun, 12 Oct 2025US$431.9bUS$550.8bUS$16.1b17.7x26.8x0.8x
Tue, 09 Sep 2025US$449.3bUS$555.1bUS$16.1b19.5x27.8x0.8x
Thu, 07 Aug 2025US$449.2bUS$550.1bUS$16.1b20.6x27.9x0.8x
Sat, 05 Jul 2025US$460.0bUS$549.7bUS$23.2b20.1x19.8x0.8x
Mon, 02 Jun 2025US$433.3bUS$468.1bUS$22.5b19.5x19.2x0.9x
Wed, 30 Apr 2025US$435.4bUS$472.2bUS$24.8b17.5x17.5x0.9x
Fri, 28 Mar 2025US$446.2bUS$470.9bUS$24.6b18x18.1x0.9x
Sun, 23 Feb 2025US$451.2bUS$475.9bUS$25.8b19.7x17.5x0.9x
Tue, 21 Jan 2025US$429.3bUS$464.1bUS$21.8b20.2x19.7x0.9x
Thu, 19 Dec 2024US$460.4bUS$464.4bUS$21.6b19.3x21.3x1x
Sat, 16 Nov 2024US$465.9bUS$460.8bUS$22.5b17.6x20.7x1x
Mon, 14 Oct 2024US$484.2bUS$462.1bUS$22.6b18.2x21.4x1x
Wed, 11 Sep 2024US$503.4bUS$461.4bUS$22.3b21.6x22.6x1.1x
Fri, 09 Aug 2024US$477.5bUS$460.9bUS$22.2b18.8x21.5x1x
Sun, 07 Jul 2024US$458.2bUS$473.4bUS$25.1b15.7x18.3x1x
Tue, 04 Jun 2024US$477.6bUS$474.1bUS$24.3b15.2x19.6x1x
Thu, 02 May 2024US$484.0bUS$473.5bUS$23.5b15.6x20.6x1x
Sat, 30 Mar 2024US$488.3bUS$473.0bUS$24.9b15.6x19.6x1x
Mon, 26 Feb 2024US$474.3bUS$478.2bUS$24.9b14.9x19.1x1x
Wed, 24 Jan 2024US$479.2bUS$489.9bUS$25.4b15.9x18.8x1x
Fri, 22 Dec 2023US$481.6bUS$490.0bUS$25.5b16.5x18.9x1x
Sun, 19 Nov 2023US$479.5bUS$490.1bUS$25.6b15.7x18.7x1x
Tue, 17 Oct 2023US$457.8bUS$494.5bUS$26.4b17x17.4x0.9x
Thu, 14 Sep 2023US$505.6bUS$491.1bUS$26.4b18.8x19.2x1x
Sat, 12 Aug 2023US$536.6bUS$490.9bUS$26.3b16.6x20.4x1.1x
Mon, 10 Jul 2023US$536.0bUS$494.1bUS$26.3b17.1x20.4x1.1x
Wed, 07 Jun 2023US$552.5bUS$499.3bUS$26.8b17.6x20.6x1.1x
Fri, 05 May 2023US$578.2bUS$498.1bUS$29.2b17.6x19.8x1.2x
Sun, 02 Apr 2023US$559.8bUS$495.0bUS$28.0b18x20x1.1x
Tue, 28 Feb 2023US$550.0bUS$492.4bUS$27.9b18.5x19.7x1.1x
Thu, 26 Jan 2023US$547.1bUS$486.8bUS$28.1b17.9x19.5x1.1x
Price to Earnings Ratio

19.5x


Total Market Cap: US$547.1bTotal Earnings: US$28.1bTotal Revenue: US$486.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Food Industry Price to Earnings3Y Average 20.7x202420252026
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 28.1x which is higher than its 3-year average PE of 20.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.97x.
Past Earnings Growth
  • The earnings for companies in the Food industry have declined 20% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.5% 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-0.29%
Consumer Staples3.35%
Food2.94%
Agricultural Products5.02%
Packaged Foods and Meats2.52%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry which is trading above its 3-year average PE ratio of 22.9x.
    • Analysts are expecting annual earnings growth of 17.4%, which is higher than its past year's earnings growth of 4.0% 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 13.5x.
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 growth rate of 2.9% per year.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 17% 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
MDLZ Mondelez InternationalUS$57.244.2%
+US$3.0b		-1.1%PE20.9x
ADM Archer-Daniels-MidlandUS$65.184.8%
+US$1.4b		27.1%PE26.3x
BG Bunge GlobalUS$107.816.7%
+US$1.3b		35.5%PE15.7x
HSY HersheyUS$197.762.4%
+US$938.9m		29.4%PE29.5x
HRL Hormel FoodsUS$24.226.0%
+US$753.6m		-19.1%PE27.9x

Latest News

HRL
US$24.22
Hormel Foods
7D
6.0%
1Y
-19.1%
GIS
US$44.51
General Mills
7D
2.4%
1Y
-25.4%
MZTI
US$168.09
Marzetti
7D
-0.5%
1Y
-1.8%

MZTI: Foodservice Strength And Margin Gains Will Support Future Earnings

Analysts have nudged their fair value estimate for Marzetti higher to $201.50 from $199, pointing to stronger Foodservice net sales trends, gradually improving margins, and expectations that cost savings and acquisition synergies will continue to support earnings, even as they factor in a slightly higher discount rate and a lower assumed future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts highlight Q1 performance as evidence that Foodservice net sales are tracking ahead of what had been baked into prior expectations, which supports a higher fair value framework.
MDLZ
US$57.24
Mondelez International
7D
4.2%
1Y
-1.1%
LWAY
US$21.85
Lifeway Foods
7D
-4.2%
1Y
-2.7%
ADM
US$65.18
Archer-Daniels-Midland
7D
4.8%
1Y
27.1%
BG
US$107.81
Bunge Global
7D
6.7%
1Y
35.5%

BG: Ongoing Share Cancellations And Capital Reduction Will Support Future Earnings Power

Narrative Update on Bunge Global Analysts have nudged their price target on Bunge Global higher to about $110 from roughly $108, reflecting slightly adjusted assumptions around fair value, discount rate, revenue growth, profit margin and future P/E that together point to a modestly more constructive view on the shares. What's in the News Bunge Global amended Article 4 of its Articles of Association on December 16, 2025 to reflect a share capital reduction of US$123,826.10, from US$2,208,943.73 to US$2,085,117.63, following the cancellation of 12,382,610 repurchased shares with a nominal value of US$0.01 per share.
PPC
US$41.37
Pilgrim's Pride
7D
3.3%
1Y
-8.7%

PPC: Future Returns Will Reflect Steady Assumptions And Undervalued Upside Potential

Analysts have kept their price target for Pilgrim's Pride steady, reflecting only small technical adjustments to inputs such as discount rate, revenue growth, profit margin, and future P/E, rather than any new fundamental change in their view. Valuation Changes Fair Value: The model fair value estimate is unchanged at 43.57143, indicating no adjustment to the core valuation outcome.
HSY
US$197.76
Hershey
7D
2.4%
1Y
29.4%

HSY: Easing Cocoa Tariffs And Cost Relief Will Test Demand Elasticity

Analysts have nudged their Hershey fair value estimate higher to about US$194 from roughly US$192, highlighting easing cocoa costs, tariff relief, and scope for reinvestment that support slightly higher long term margins along with a modestly richer future P/E assumption. Analyst Commentary Recent Street research on Hershey clusters around two themes, easing cocoa and tariff costs on the positive side, and questions around demand elasticity and earnings power on the cautious side.
VITL
US$29.25
Vital Farms
7D
-5.1%
1Y
-35.0%

VITL: Index Additions And Brand Strength Will Support Future Upside Potential

Analysts trimmed their price target on Vital Farms to US$48 from US$53, citing recent Nielsen scanner data that showed softer retail volumes and heavier discounting in the period through November 15. Analyst Commentary Recent commentary points to a mixed view on Vital Farms, with the lower price target reflecting both execution risks and continued confidence in the broader equity story.
NOMD
US$11.65
Nomad Foods
7D
-3.2%
1Y
-31.3%

NOMD: Leadership Transition And Conservative Outlook Will Create Long-Term Upside

Analysts have reduced their price target on Nomad Foods to €17.92 from €27.69, citing updated assumptions for revenue growth, profit margins, the discount rate, and a lower future P/E multiple. What's in the News Nomad Foods issued earnings guidance for full year 2025, indicating it expects results near the low end of its existing ranges, with organic revenue near the low end of its flat to 2% decline range (Company guidance).
AVX
US$1.59
Avax One Technology
7D
-13.1%
1Y
-93.2%
CPB
US$26.08
Campbell's
7D
-1.2%
1Y
-33.1%

CPB: New Finance Leadership Will Support Future Performance Despite Governance And Legal Turbulence

Analysts have trimmed their fair value estimate for Campbell's to about $32 from roughly $34, citing updated views on revenue growth, profit margins, and a lower assumed future P/E multiple. What's in the News Campbell's placed its vice president of information technology, Martin Bally, on temporary leave after a lawsuit alleged he described company food as "highly processed" and "for poor people," and made racist comments in a recorded meeting, while the company publicly defended the quality of its soups and ingredients (Wall Street Journal).
AFRI
US$10.05
Forafric Global
7D
-4.0%
1Y
1.0%
JBS
US$14.67
JBS
7D
2.5%
1Y
n/a
BRLS
US$1.04
Borealis Foods
7D
-26.8%
1Y
-83.7%