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South African (JSE) Consumer Staples Sector Analysis

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies22
  • 7D-2.8%
  • 3M-2.7%
  • 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. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 13% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Mar 2026R610.9bR1.1tR35.9b12x17x0.6x
Tue, 27 Jan 2026R615.1bR1.1tR35.2b12.2x17.5x0.6x
Thu, 25 Dec 2025R623.0bR1.1tR35.2b12.6x17.7x0.6x
Sat, 22 Nov 2025R624.2bR1.1tR36.0b11.1x17.3x0.6x
Mon, 20 Oct 2025R642.6bR1.1tR34.9b11.3x18.4x0.6x
Wed, 17 Sep 2025R629.8bR1.1tR33.0b11.7x19.1x0.6x
Fri, 15 Aug 2025R626.9bR1.1tR31.5b12.2x19.9x0.6x
Sun, 13 Jul 2025R620.7bR1.1tR31.5b11.6x19.7x0.6x
Tue, 10 Jun 2025R641.5bR1.1tR31.7b12.6x20.3x0.6x
Thu, 08 May 2025R641.4bR1.1tR28.1b12.9x22.9x0.6x
Sat, 05 Apr 2025R572.8bR1.1tR27.9b11.6x20.5x0.5x
Mon, 03 Mar 2025R618.6bR1.1tR28.7b14x21.5x0.6x
Wed, 29 Jan 2025R634.7bR1.1tR28.8b14.8x22.1x0.6x
Fri, 27 Dec 2024R657.8bR1.1tR28.8b15.6x22.9x0.6x
Sun, 24 Nov 2024R627.8bR1.0tR26.0b15x24.1x0.6x
Tue, 22 Oct 2024R580.4bR905.7bR28.0b15.2x20.7x0.6x
Thu, 19 Sep 2024R588.5bR904.7bR28.4b13.1x20.7x0.7x
Sat, 17 Aug 2024R574.4bR900.0bR27.6b10.5x20.8x0.6x
Mon, 15 Jul 2024R553.2bR900.0bR27.6b10.7x20.1x0.6x
Wed, 12 Jun 2024R503.2bR880.3bR27.3b10.4x18.4x0.6x
Fri, 10 May 2024R522.1bR989.9bR26.9b10.1x19.4x0.5x
Sun, 07 Apr 2024R517.8bR988.2bR26.7b10.1x19.4x0.5x
Tue, 05 Mar 2024R522.7bR971.7bR26.2b11.3x20x0.5x
Thu, 01 Feb 2024R591.6bR1.1tR24.8b14.5x23.9x0.6x
Sat, 30 Dec 2023R588.4bR1.1tR24.8b14x23.7x0.6x
Mon, 27 Nov 2023R563.7bR1.1tR26.3b12.2x21.4x0.5x
Wed, 25 Oct 2023R523.3bR1.0tR28.5b10.8x18.4x0.5x
Fri, 22 Sep 2023R542.6bR1.0tR27.8b12.2x19.5x0.5x
Sun, 20 Aug 2023R542.8bR999.2bR27.0b11.4x20.1x0.5x
Tue, 18 Jul 2023R543.5bR999.2bR27.0b11.4x20.2x0.5x
Thu, 15 Jun 2023R539.0bR993.9bR27.5b10.4x19.6x0.5x
Sat, 13 May 2023R519.5bR969.5bR27.0b12.2x19.2x0.5x
Mon, 10 Apr 2023R547.6bR960.6bR27.3b12.9x20.1x0.6x
Wed, 08 Mar 2023R549.8bR942.8bR26.3b12.8x20.9x0.6x
Price to Earnings Ratio

20.9x


Total Market Cap: R549.8bTotal Earnings: R26.3bTotal Revenue: R942.8bTotal 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 11% per year over the last three years.
  • Revenues for these companies have grown 4.9% 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 Market3.99%
Consumer Staples-2.84%
Beverage0%0
Personal Products0%0
Food-2.05%
Food and Staples Retail-3.11%
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 13.7%, 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 5.8x.
Forecasted Growth
  • Analysts are most optimistic on the Food and Staples Retail industry, expecting annual earnings growth of 14% 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
QFH Quantum Foods HoldingsR10.0014.4%
+R255.8m		60.5%PE7.3x
RBO Rainbow ChickenR7.253.6%
+R223.3m		88.8%PE11.3x
LBR Libstar HoldingsR4.827.3%
+R172.5m		22.6%PS0.2x
ARL Astral FoodsR278.450.9%
+R94.4m		67.2%PE12.2x
OCE Oceana GroupR53.481.4%
+R91.0m		-8.1%PE9.5x

Latest News

BID
R420.14
Bid
7D
-3.1%
1Y
-6.7%
SPP
R69.80
SPAR Group
7D
-16.8%
1Y
-47.6%
LBR
R4.82
Libstar Holdings
7D
7.3%
1Y
22.6%

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
R37.00
Dis-Chem Pharmacies
7D
-2.6%
1Y
13.3%
OCE
R53.48
Oceana Group
7D
1.4%
1Y
-8.1%
TBS
R318.00
Tiger Brands
7D
-5.6%
1Y
17.6%

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
-2.5%
1Y
-3.8%

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
-3.2%
1Y
5.6%
ARL
R278.45
Astral Foods
7D
0.9%
1Y
67.2%

ARL: Leadership Changes And Refined Assumptions Will Support Balanced Future Prospects

The analyst price target for Astral Foods has been refined to ZAR265, with small adjustments to the discount rate and future P/E assumptions as analysts reassess the balance between required returns and valuation inputs. What's in the News Astral Foods appointed Henry Enslin CA(SA) as acting CFO for February 2026, with Enslin stepping in on a temporary basis while retaining his role as Financial Manager for the Poultry Commercial Division (company announcement).
CLS
R318.21
Clicks Group
7D
-1.5%
1Y
-7.7%

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
QFH
R10.00
Quantum Foods Holdings
7D
14.4%
1Y
60.5%
RBO
R7.25
Rainbow Chicken
7D
3.6%
1Y
88.8%
AVI
R112.23
AVI
7D
-1.9%
1Y
20.2%
SHG
R9.65
Sea Harvest Group
7D
1.0%
1Y
44.7%