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South African (JSE) Consumer Staples Sector Analysis

UpdatedApr 20, 2026
DataAggregated Company Financials
Companies21
  • 7D2.2%
  • 3M-2.5%
  • 1Y-2.4%
  • YTD-2.8%

Over the last 7 days, the Consumer Staples industry has risen 2.2%, driven by gains from Shoprite Holdings of 3.6%. Meanwhile, Quantum Foods Holdings actually underperformed within the industry, shrinking 16% in the last week. Overall in the last year, the industry is flat. As for the next few years, earnings are expected to grow by 11% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 20 Apr 2026R604.9bR1.1tR35.8b12.2x16.9x0.6x
Wed, 18 Mar 2026R590.5bR1.1tR35.8b12.5x16.5x0.5x
Fri, 13 Feb 2026R624.1bR1.1tR35.2b12.5x17.7x0.6x
Sun, 11 Jan 2026R632.3bR1.1tR35.2b12.9x17.9x0.6x
Tue, 09 Dec 2025R626.7bR1.1tR36.1b11.5x17.4x0.6x
Thu, 06 Nov 2025R636.4bR1.1tR35.6b11.5x17.9x0.6x
Sat, 04 Oct 2025R622.9bR1.1tR34.9b10.2x17.9x0.6x
Mon, 01 Sep 2025R629.2bR1.1tR31.8b12.6x19.8x0.6x
Wed, 30 Jul 2025R619.6bR1.1tR31.5b11.6x19.6x0.6x
Fri, 27 Jun 2025R629.1bR1.1tR31.5b12.4x20x0.6x
Sun, 25 May 2025R639.6bR1.1tR27.9b12.9x22.9x0.6x
Tue, 22 Apr 2025R626.8bR1.1tR28.1b12.6x22.3x0.6x
Thu, 20 Mar 2025R599.9bR1.1tR29.0b12.5x20.7x0.6x
Sat, 15 Feb 2025R630.4bR1.1tR28.8b14.1x21.9x0.6x
Mon, 13 Jan 2025R653.8bR1.1tR28.8b15.4x22.7x0.6x
Wed, 11 Dec 2024R661.1bR1.1tR28.8b15.1x23x0.6x
Fri, 08 Nov 2024R617.8bR1.0tR24.8b16.4x24.9x0.6x
Sun, 06 Oct 2024R586.5bR1.0tR29.7b14x19.7x0.6x
Tue, 03 Sep 2024R587.7bR906.3bR27.7b12x21.2x0.6x
Thu, 01 Aug 2024R577.9bR900.0bR27.6b10.6x21x0.6x
Sat, 29 Jun 2024R548.1bR886.5bR27.7b10.3x19.8x0.6x
Mon, 27 May 2024R527.6bR989.8bR27.2b10.5x19.4x0.5x
Wed, 24 Apr 2024R496.4bR988.1bR26.7b10.1x18.6x0.5x
Fri, 22 Mar 2024R524.7bR988.1bR27.0b10x19.5x0.5x
Sun, 18 Feb 2024R526.8bR949.1bR25.4b12.1x20.7x0.6x
Tue, 16 Jan 2024R580.4bR1.1tR24.8b14.1x23.4x0.5x
Thu, 14 Dec 2023R561.4bR1.1tR24.8b13.4x22.6x0.5x
Sat, 11 Nov 2023R554.2bR1.1tR27.3b12.4x20.3x0.5x
Mon, 09 Oct 2023R536.7bR1.0tR28.5b12.6x18.9x0.5x
Wed, 06 Sep 2023R554.5bR1.0tR27.8b12.4x19.9x0.5x
Fri, 04 Aug 2023R554.2bR999.2bR27.0b11x20.6x0.6x
Sun, 02 Jul 2023R531.7bR999.2bR27.0b10.8x19.7x0.5x
Tue, 30 May 2023R518.5bR971.9bR26.5b11.9x19.5x0.5x
Thu, 27 Apr 2023R549.0bR961.1bR27.2b12.9x20.2x0.6x
Price to Earnings Ratio

20.2x


Total Market Cap: R549.0bTotal Earnings: R27.2bTotal Revenue: R961.1bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Consumer Staples Sector Price to Earnings3Y Average 20.4x202420252026
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 20.4x.
  • 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 9.6% per year over the last three years.
  • Revenues for these companies have grown 4.3% 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 Market1.88%
Consumer Staples2.16%
Food and Staples Retail2.51%
Food1.06%
Beverage0%0
Personal Products0%0
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 23.7x.
    • Analysts are expecting annual earnings growth of 12.5%, 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 4.8x.
Forecasted Growth
  • Analysts are most optimistic on the Food and Staples Retail industry, expecting annual earnings growth of 12% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Food industry is expected to see its earnings grow by 5.3% 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 HoldingsR288.304.8%
+R7.1b		1.9%PE20.7x
BID BidR415.912.3%
+R3.1b		-8.6%PE15.9x
BOX Boxer RetailR75.005.2%
+R1.7b		13.5%PE24.4x
CLS Clicks GroupR298.202.2%
+R1.5b		-21.5%PE21.6x
PIK Pick n Pay StoresR20.908.9%
+R1.2b		-23.3%PS0.1x

Latest News

TBS
R304.19
Tiger Brands
7D
2.6%
1Y
6.3%

Does Tiger Brands (JSE:TBS) Deserve A Spot On Your Watchlist?

Apr 20
Does Tiger Brands (JSE:TBS) Deserve A Spot On Your Watchlist?
BID
R415.91
Bid
7D
2.3%
1Y
-8.6%

BID: JPMorgan Upgrade And Interim Dividend Will Support Future Upside

The analyst price target for Bid has been adjusted from ZAR485.63 to ZAR481.00, as analysts factor in updated assumptions for fair value, discount rate, revenue growth, profit margins, and a slightly higher future P/E multiple following recent research updates. Analyst Commentary Recent research on Bid focuses on how updated assumptions for fair value, discount rates, revenue growth, profit margins, and future P/E multiples feed into the revised price target of ZAR481.00.
QFH
R9.99
Quantum Foods Holdings
7D
-15.6%
1Y
52.3%
CLS
R298.20
Clicks Group
7D
2.2%
1Y
-21.5%

CLS: Lower Margin Assumptions Will Still Support Future Upside Potential

Analysts have revised their price target for Clicks Group from ZAR430.25 to ZAR410.00, citing updated fair value assumptions, a slightly lower discount rate, and modest changes to expectations for revenue growth, profit margins, and future P/E ratios. Valuation Changes Fair Value: revised from ZAR430.25 to ZAR410.00, representing a small downward adjustment to the central value estimate.
AVI
R101.41
AVI
7D
3.6%
1Y
11.8%

AVI: Slightly Higher P/E Expectations Will Support Stronger Intrinsic Upside

Analysts have trimmed their price target on AVI slightly from ZAR126.50 to ZAR125.75. This reflects updated views on revenue growth, profit margins and the stock's future P/E multiple.
LBR
R4.64
Libstar Holdings
7D
-2.1%
1Y
45.0%

LBR: Dividend Outlook And Lower Impairments Will Support Steady Risk Profile

Analysts have kept their valuation drivers for Libstar Holdings broadly unchanged, resulting in a steady analyst price target around ZAR4.70 as they continue to see similar assumptions for discount rate, revenue growth, profit margin and future P/E. What's in the News Announced an annual dividend of ZAR0.2800 per share, with an ex-dividend date of April 8, 2026, record date of April 10, 2026, and payment date of April 13, 2026 (Key Developments).
PIK
R20.90
Pick n Pay Stores
7D
8.9%
1Y
-23.3%

PIK: Higher Margin Expectations Will Support Future Upside Potential

Analysts have slightly reduced their price target for Pick n Pay Stores from ZAR27.67 to ZAR27.06, reflecting updated assumptions around discount rates, margins and future P/E expectations. Valuation Changes Fair Value: ZAR27.67 updated to ZAR27.06, a small downward adjustment in the modelled valuation per share.
ARL
R254.52
Astral Foods
7D
-0.1%
1Y
55.3%
RBO
R6.95
Rainbow Chicken
7D
-0.7%
1Y
120.6%
SPP
R64.60
SPAR Group
7D
4.4%
1Y
-42.1%

SPP: Leadership Transition And Capital Discipline Will Support Future Share Price Rebound

Analysts have adjusted their price target on SPAR Group to ZAR107.09 from ZAR136.69, reflecting updated assumptions for a slightly higher discount rate, firmer revenue growth, a lower profit margin, and a modestly higher future P/E multiple. What's in the News Group CEO Angelo Swartz has resigned, effective 28 February 2026, after 19 years with SPAR Group, with a transition period to support ongoing projects (Key Developments).
SZK
R30.01
SAB Zenzele Kabili Holdings (RF)
7D
-11.7%
1Y
-22.1%
SHG
R8.38
Sea Harvest Group
7D
-1.5%
1Y
25.1%
KAL
R44.00
KAL Group
7D
-2.4%
1Y
10.0%
SHP
R288.30
Shoprite Holdings
7D
4.8%
1Y
1.9%

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

Analysts have trimmed their Shoprite Holdings price target from ZAR322.69 to ZAR317.19, as slightly softer assumptions on revenue growth, profit margins and fair value are now partly offset by a marginally higher future P/E estimate and a small adjustment to the discount rate. What's in the News The board declares an interim cash dividend of 307 cents per ordinary share for the 26-week period ended 28 December 2025, with payment scheduled for 30 March 2026 from retained earnings in line with applicable legislation (Key Developments).
PMR
R173.00
Premier Group
7D
-0.03%
1Y
33.5%
BOX
R75.00
Boxer Retail
7D
5.2%
1Y
13.5%