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South African (JSE) Consumer Staples Sector Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies22
  • 7D-2.5%
  • 3M-2.1%
  • 1Y-0.7%
  • YTD-2.7%

Over the last 7 days, the Consumer Staples industry has dropped 2.8%, driven by Bid declining 3.1%. Meanwhile, Quantum Foods Holdings actually outperformed within the industry, gaining 14% in the last week. Over the last year, the industry has been flat overall. 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
Mon, 02 Mar 2026R610.9bR1.1tR35.9b12x17x0.6x
Wed, 28 Jan 2026R616.9bR1.1tR35.2b12.2x17.5x0.6x
Fri, 26 Dec 2025R623.0bR1.1tR35.2b12.6x17.7x0.6x
Sun, 23 Nov 2025R624.2bR1.1tR36.0b11.1x17.3x0.6x
Tue, 21 Oct 2025R649.2bR1.1tR34.9b11.4x18.6x0.6x
Thu, 18 Sep 2025R636.8bR1.1tR33.0b12x19.3x0.6x
Sat, 16 Aug 2025R629.4bR1.1tR31.5b12.5x20x0.6x
Mon, 14 Jul 2025R620.7bR1.1tR31.5b11.6x19.7x0.6x
Wed, 11 Jun 2025R636.8bR1.1tR31.3b12.6x20.3x0.6x
Fri, 09 May 2025R639.9bR1.1tR28.1b12.6x22.8x0.6x
Sun, 06 Apr 2025R572.8bR1.1tR27.9b11.6x20.5x0.5x
Tue, 04 Mar 2025R619.6bR1.1tR28.7b13.9x21.6x0.6x
Thu, 30 Jan 2025R646.9bR1.1tR28.8b15x22.5x0.6x
Sat, 28 Dec 2024R654.0bR1.1tR28.8b15.6x22.7x0.6x
Mon, 25 Nov 2024R627.8bR1.0tR26.0b15x24.1x0.6x
Wed, 23 Oct 2024R576.6bR905.7bR28.0b15.3x20.6x0.6x
Fri, 20 Sep 2024R594.0bR904.7bR28.4b13.3x20.9x0.7x
Sun, 18 Aug 2024R574.4bR900.0bR27.6b10.5x20.8x0.6x
Tue, 16 Jul 2024R560.7bR900.0bR27.6b10.7x20.3x0.6x
Thu, 13 Jun 2024R503.2bR880.4bR27.4b10.1x18.4x0.6x
Sat, 11 May 2024R525.7bR989.9bR26.9b10.4x19.6x0.5x
Mon, 08 Apr 2024R517.8bR988.2bR26.7b10.1x19.4x0.5x
Wed, 06 Mar 2024R523.3bR988.0bR26.7b10.7x19.6x0.5x
Fri, 02 Feb 2024R597.9bR1.1tR24.8b14x24.1x0.6x
Sun, 31 Dec 2023R588.4bR1.1tR24.8b14x23.7x0.6x
Tue, 28 Nov 2023R563.5bR1.1tR26.3b12.1x21.4x0.5x
Thu, 26 Oct 2023R525.1bR1.0tR27.4b12x19.1x0.5x
Sat, 23 Sep 2023R538.2bR1.0tR27.8b12.1x19.4x0.5x
Mon, 21 Aug 2023R542.8bR999.2bR27.0b11.4x20.1x0.5x
Wed, 19 Jul 2023R541.7bR999.2bR27.0b11.2x20.1x0.5x
Fri, 16 Jun 2023R542.4bR993.9bR27.5b10.6x19.7x0.5x
Sun, 14 May 2023R519.5bR969.5bR27.0b12.2x19.2x0.5x
Tue, 11 Apr 2023R547.6bR960.6bR27.3b12.9x20.1x0.6x
Thu, 09 Mar 2023R542.6bR958.0bR26.8b12.7x20.2x0.6x
Price to Earnings Ratio

20.2x


Total Market Cap: R542.6bTotal Earnings: R26.8bTotal Revenue: R958.0bTotal 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 17.0x 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 10% per year over the last three years.
  • Revenues for these companies have grown 4.4% 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 Market3.39%
Consumer Staples-2.52%
Beverage0%0
Personal Products0%0
Food and Staples Retail-2.48%
Food-2.66%
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 23.9x.
    • Analysts are expecting annual earnings growth of 13.4%, 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 5.7x.
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
RBO Rainbow ChickenR7.255.4%
+R330.4m		90.8%PE11.3x
QFH Quantum Foods HoldingsR10.0014.4%
+R255.8m		59.0%PE7.3x
LBR Libstar HoldingsR4.824.3%
+R104.6m		35.8%PS0.2x
SHG Sea Harvest GroupR9.651.6%
+R50.1m		48.5%PE8.5x
KAL KAL GroupR46.990.9%
+R31.1m		6.8%PE8.2x

Latest News

BID
R420.14
Bid
7D
-4.7%
1Y
-7.3%
KAL
R46.99
KAL Group
7D
0.9%
1Y
6.8%
PMR
R180.20
Premier Group
7D
-3.3%
1Y
52.7%
PIK
R19.45
Pick n Pay Stores
7D
-3.5%
1Y
-30.2%

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).
SPP
R69.80
SPAR Group
7D
-8.4%
1Y
-46.5%
LBR
R4.82
Libstar Holdings
7D
4.3%
1Y
35.8%

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.
TBS
R318.00
Tiger Brands
7D
-6.1%
1Y
18.2%

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.
SHP
R264.52
Shoprite Holdings
7D
-2.2%
1Y
-4.5%

SHP: Future Upside Will Be Driven By Stable Margins And Earnings Guidance

Analysts have made a small downward adjustment to their Shoprite Holdings price target to ZAR325.88. This reflects slightly different assumptions for fair value, discount rate, revenue growth, profit margin and future P/E compared with the prior ZAR327.13 view.
BOX
R70.69
Boxer Retail
7D
-2.4%
1Y
5.9%
QFH
R10.00
Quantum Foods Holdings
7D
14.4%
1Y
59.0%
RBO
R7.25
Rainbow Chicken
7D
5.4%
1Y
90.8%
AVI
R112.23
AVI
7D
-2.0%
1Y
21.2%
SHG
R9.65
Sea Harvest Group
7D
1.6%
1Y
48.5%