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South African (JSE) Consumer Staples Sector Analysis

UpdatedMar 12, 2026
DataAggregated Company Financials
Companies22
  • 7D-0.9%
  • 3M-3.8%
  • 1Y-0.9%
  • YTD-5.6%

Over the last 7 days, the Consumer Staples industry has risen 1.2%, driven by gains from Shoprite Holdings of 1.3%. Overall in the last year, the industry is flat. Looking forward, earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

Has the South African Consumer Staples Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 12 Mar 2026R592.3bR1.1tR35.5b12.5x16.7x0.5x
Sat, 07 Feb 2026R627.8bR1.1tR35.2b12.7x17.8x0.6x
Mon, 05 Jan 2026R627.9bR1.1tR35.2b12.8x17.8x0.6x
Wed, 03 Dec 2025R625.0bR1.1tR36.1b11.1x17.3x0.6x
Fri, 31 Oct 2025R639.7bR1.1tR35.4b11.5x18.1x0.6x
Sun, 28 Sep 2025R615.0bR1.1tR33.0b11.9x18.6x0.6x
Tue, 26 Aug 2025R635.7bR1.1tR31.5b13.1x20.2x0.6x
Thu, 24 Jul 2025R619.0bR1.1tR31.5b11.5x19.6x0.6x
Sat, 21 Jun 2025R626.1bR1.1tR31.5b12.5x19.9x0.6x
Mon, 19 May 2025R641.3bR1.1tR28.0b12.9x22.9x0.6x
Wed, 16 Apr 2025R621.0bR1.1tR27.9b13x22.3x0.6x
Fri, 14 Mar 2025R596.8bR1.1tR29.6b10.9x20.2x0.6x
Sun, 09 Feb 2025R642.5bR1.1tR28.8b14.4x22.3x0.6x
Tue, 07 Jan 2025R651.7bR1.1tR28.8b15.6x22.6x0.6x
Thu, 05 Dec 2024R668.2bR1.1tR28.7b14.7x23.3x0.6x
Sat, 02 Nov 2024R606.6bR1.0tR24.9b16x24.4x0.6x
Mon, 30 Sep 2024R601.0bR904.7bR27.6b14.6x21.8x0.7x
Wed, 28 Aug 2024R578.0bR900.0bR27.6b10.8x21x0.6x
Fri, 26 Jul 2024R564.2bR900.0bR27.6b10.3x20.5x0.6x
Sun, 23 Jun 2024R551.7bR886.5bR27.7b11x19.9x0.6x
Tue, 21 May 2024R529.9bR989.9bR26.9b10.4x19.7x0.5x
Thu, 18 Apr 2024R489.4bR988.1bR26.7b10.4x18.3x0.5x
Sat, 16 Mar 2024R526.0bR987.7bR26.6b10.4x19.7x0.5x
Mon, 12 Feb 2024R533.9bR949.1bR25.4b12.1x21x0.6x
Wed, 10 Jan 2024R579.7bR1.1tR24.8b14.3x23.4x0.5x
Fri, 08 Dec 2023R561.0bR1.1tR24.8b14.1x22.6x0.5x
Sun, 05 Nov 2023R546.5bR1.1tR27.3b12.7x20x0.5x
Tue, 03 Oct 2023R541.5bR1.0tR28.5b12x19x0.5x
Thu, 31 Aug 2023R565.9bR999.2bR27.0b11.6x21x0.6x
Sat, 29 Jul 2023R558.0bR999.2bR27.0b11.2x20.7x0.6x
Mon, 26 Jun 2023R531.0bR999.2bR27.2b10.9x19.5x0.5x
Wed, 24 May 2023R508.2bR970.9bR26.5b12.2x19.2x0.5x
Fri, 21 Apr 2023R545.0bR960.6bR27.3b12.8x20x0.6x
Sun, 19 Mar 2023R518.7bR960.6bR26.2b12.8x19.8x0.5x
Price to Earnings Ratio

19.8x


Total Market Cap: R518.7bTotal Earnings: R26.2bTotal Revenue: R960.6bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Consumer Staples Sector Price to Earnings3Y Average 20.5x202420252026
Current Industry PE
  • Investors are pessimistic on the South African Consumer Staples industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 16.9x which is lower than its 3-year average PE of 20.5x.
  • The industry is trading close to its 3-year average PS ratio of 0.58x.
Past Earnings Growth
  • The earnings for companies in the Consumer Staples industry have grown 11% per year over the last three years.
  • Revenues for these companies have grown 4.5% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the South African Consumer Staples sector?

ZA Market-3.27%
Consumer Staples-0.91%
Beverage0%0
Personal Products0%0
Food and Staples Retail-0.85%
Food-1.10%
Industry PE
  • Investors are most optimistic about the Food and Staples Retail industry even though it's trading below its 3-year average PE ratio of 23.8x.
    • Analysts are expecting annual earnings growth of 13.2%, which is higher than its past year's earnings growth of 10.8% per year.
  • Investors are most pessimistic about the Beverage industry, which is trading below its 3-year average of 5.5x.
Forecasted Growth
  • Analysts are most optimistic on the Food and Staples Retail industry, expecting annual earnings growth of 13% over the next 5 years.
  • This is better than its past earnings growth rate of 11% per year.
  • In contrast, the Food industry is expected to see its earnings grow by 7.1% 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
SHP Shoprite HoldingsR262.301.3%
+R1.9b		-5.1%PE18.8x
QFH Quantum Foods HoldingsR11.9019.0%
+R385.7m		88.6%PE8.7x
RCL RCL FoodsR9.013.3%
+R260.6m		-9.9%PE7.4x
OCE Oceana GroupR55.573.3%
+R213.1m		-2.4%PE9.9x
SHG Sea Harvest GroupR9.495.4%
+R161.9m		46.0%PE9.6x

Latest News

AVI
R104.50
AVI
7D
-4.3%
1Y
18.5%
SHP
R262.30
Shoprite Holdings
7D
1.3%
1Y
-5.1%

SHP: Future Upside Will Be Driven By Dividend Support And Earnings Guidance

Analysts have slightly reduced their 12-month price target for Shoprite Holdings, with fair value adjusted from about ZAR326.00 to around ZAR323.00, reflecting updated assumptions on revenue growth, profit margins and future P/E levels. What's in the News The board declared an interim cash dividend of ZAR3.07 per ordinary share for the 26-week period ended 28 December 2025, payable on 30 March 2026, out of retained earnings in line with applicable legislation (company announcement).
SHG
R9.49
Sea Harvest Group
7D
5.4%
1Y
46.0%
SPP
R64.65
SPAR Group
7D
-1.8%
1Y
-48.0%

SPP: Leadership Transition And Margin Recovery Efforts Will Shape Future Risk Profile

Analysts have reduced their price target on SPAR Group from ZAR104 to ZAR81. This reflects updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E multiples.
QFH
R11.90
Quantum Foods Holdings
7D
19.0%
1Y
88.6%
RCL
R9.01
RCL Foods
7D
3.3%
1Y
-9.9%
BID
R415.00
Bid
7D
-1.9%
1Y
-2.9%
ARL
R262.90
Astral Foods
7D
-3.3%
1Y
62.5%

ARL: New Finance Leadership And Steady Assumptions Will Support Balanced Prospects

Analysts have kept their ZAR265.00 price target on Astral Foods unchanged, reflecting largely steady assumptions on fair value, discount rate, revenue growth, profit margin and future P/E multiples. What's in the News Astral Foods appointed Mr. Henry Enslin CA(SA) as acting CFO for February 2026, with Enslin currently serving as Financial Manager for the Poultry Commercial Division and previously as Financial Director at Albany Bakeries, a division of Tiger Brands (company announcement).
PIK
R18.44
Pick n Pay Stores
7D
-1.8%
1Y
-29.8%

PIK: Finance Succession And Turnaround Plan Will Support Future Upside Potential

Analysts have trimmed their price target for Pick n Pay Stores from ZAR29.49 to ZAR27.67, reflecting updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Group CFO Lerena Olivier is set to step down from the CFO role at the conclusion of the 2026 AGM in August 2026, as part of long term succession planning after joining Pick n Pay in 2011 and serving as CFO since 2019 (company announcement).
LBR
R4.54
Libstar Holdings
7D
4.1%
1Y
24.7%

LBR: Minor Assumption Shifts Will Likely Sustain Perceived Overvaluation

Analysts have made only minor adjustments to their assumptions for Libstar Holdings, keeping the fair value estimate steady at ZAR3.98 per share. Small changes to the discount rate, revenue growth outlook and future P/E expectations did not materially alter their overall price target rationale.
DCP
R34.38
Dis-Chem Pharmacies
7D
-2.2%
1Y
9.8%
OCE
R55.57
Oceana Group
7D
3.3%
1Y
-2.4%
TBS
R299.68
Tiger Brands
7D
-1.5%
1Y
14.8%

TBS: Pending Special Dividend Will Mask Underlying Earnings Quality Risk

Analysts have maintained their Tiger Brands fair value estimate at ZAR280.00. The slightly lower discount rate and modestly higher profit margin assumption result in only a small refinement to the underlying valuation rather than a major shift in the price target.
BOX
R70.70
Boxer Retail
7D
0.4%
1Y
7.1%
CLS
R295.83
Clicks Group
7D
-2.6%
1Y
-13.3%

If EPS Growth Is Important To You, Clicks Group (JSE:CLS) Presents An Opportunity

Feb 11
If EPS Growth Is Important To You, Clicks Group (JSE:CLS) Presents An Opportunity
RBO
R7.39
Rainbow Chicken
7D
1.0%
1Y
118.0%