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South African (JSE) Food Industry Analysis

UpdatedMay 28, 2026
DataAggregated Company Financials
Companies12
  • 7D1.4%
  • 3M-9.2%
  • 1Y1.9%
  • YTD-10.7%

Over the last 7 days, the Food industry has risen 1.1%, driven by gains from Astral Foods of 9.4%. Overall in the last year, the industry is flat. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

Has the South African Food Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 28 May 2026R135.9bR175.0bR13.2b9.4x10.3x0.8x
Sat, 25 Apr 2026R139.7bR174.3bR12.4b10.4x11.3x0.8x
Mon, 23 Mar 2026R146.0bR182.4bR12.8b10.6x11.4x0.8x
Wed, 18 Feb 2026R158.6bR182.8bR12.7b10.6x12.5x0.9x
Fri, 16 Jan 2026R156.6bR182.8bR12.7b9.4x12.4x0.9x
Sun, 14 Dec 2025R153.0bR182.8bR12.7b8.7x12.1x0.8x
Tue, 11 Nov 2025R145.4bR184.0bR12.3b7.6x11.8x0.8x
Thu, 09 Oct 2025R140.7bR183.3bR12.2b7.8x11.6x0.8x
Sat, 06 Sep 2025R134.4bR182.9bR12.1b7.8x11.1x0.7x
Mon, 04 Aug 2025R132.4bR184.1bR11.4b7.9x11.6x0.7x
Wed, 02 Jul 2025R137.1bR184.1bR11.4b8.1x12x0.7x
Fri, 30 May 2025R139.6bR182.9bR11.5b10.1x12.1x0.8x
Sun, 27 Apr 2025R129.7bR181.5bR10.6b9.2x12.2x0.7x
Tue, 25 Mar 2025R123.5bR181.5bR10.6b9.2x11.6x0.7x
Thu, 20 Feb 2025R129.9bR183.1bR10.6b9.5x12.2x0.7x
Sat, 18 Jan 2025R135.8bR183.1bR10.6b10x12.8x0.7x
Mon, 16 Dec 2024R139.8bR183.1bR10.6b11.1x13.2x0.8x
Wed, 13 Nov 2024R127.3bR182.1bR9.4b12.1x13.6x0.7x
Fri, 11 Oct 2024R128.4bR182.1bR9.4b12.5x13.7x0.7x
Sun, 08 Sep 2024R119.1bR180.3bR8.7b11.2x13.7x0.7x
Tue, 06 Aug 2024R114.5bR194.9bR8.8b10.3x13x0.6x
Thu, 04 Jul 2024R116.2bR181.4bR9.0b10.1x12.8x0.6x
Sat, 01 Jun 2024R101.3bR180.8bR8.5b9.6x12x0.6x
Mon, 29 Apr 2024R101.6bR180.9bR8.0b9.2x12.7x0.6x
Wed, 27 Mar 2024R104.1bR180.9bR8.0b8.9x13.1x0.6x
Fri, 23 Feb 2024R102.5bR178.7bR7.2b10.2x14.3x0.6x
Sun, 21 Jan 2024R98.3bR194.5bR5.9b10.5x16.7x0.5x
Tue, 19 Dec 2023R100.2bR194.5bR5.9b10.6x17x0.5x
Thu, 16 Nov 2023R93.6bR192.7bR7.0b9.9x13.4x0.5x
Sat, 14 Oct 2023R88.1bR192.7bR7.0b9.2x12.6x0.5x
Mon, 11 Sep 2023R92.6bR192.5bR7.1b9.2x13.1x0.5x
Wed, 09 Aug 2023R92.0bR191.1bR7.3b9.2x12.7x0.5x
Fri, 07 Jul 2023R91.3bR191.1bR7.3b9.3x12.6x0.5x
Sun, 04 Jun 2023R84.8bR171.8bR6.5b9.6x13.1x0.5x
Price to Earnings Ratio

13.1x


Total Market Cap: R84.8bTotal Earnings: R6.5bTotal Revenue: R171.8bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Food Industry Price to Earnings3Y Average 13.6x202420252026
Current Industry PE
  • Investors are pessimistic on the South African Food 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 10.3x which is lower than its 3-year average PE of 13.6x.
  • The industry is trading close to its 3-year average PS ratio of 0.69x.
Past Earnings Growth
  • The earnings for companies in the Food industry have grown 27% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

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

ZA Market1.42%
Consumer Staples0.72%
Food1.37%
Packaged Foods and Meats1.38%
Agricultural Products-3.61%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry even though it's trading below its 3-year average PE ratio of 13.5x.
    • Analysts are expecting annual earnings growth of 12.0%, which is lower than the prior year's growth of 28.3% per year.
  • Investors are most pessimistic about the Agricultural Products industry, which is trading below its 3-year average of 8.0x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 12% over the next 5 years.
  • However this is lower than its past earnings growth rate of 28% per year.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 12% 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
ARL Astral FoodsR259.289.4%
+R861.9m		35.0%PE6.3x
TBS Tiger BrandsR287.461.3%
+R551.1m		-15.0%PE10.6x
PMR Premier GroupR172.861.0%
+R226.9m		32.4%PE16.4x
OCE Oceana GroupR60.502.0%
+R143.7m		1.4%PE10.2x
LBR Libstar HoldingsR4.303.9%
+R95.3m		32.3%PE32.3x

Latest News

QFH
R9.99
Quantum Foods Holdings
7D
-5.7%
1Y
16.0%
OCE
R60.50
Oceana Group
7D
2.0%
1Y
1.4%
ARL
R259.28
Astral Foods
7D
9.4%
1Y
35.0%
AVI
R94.33
AVI
7D
0.03%
1Y
1.4%
Narrative Update • May 13

AVI: Stable Margins And Discount Rate Should Support Future Upside Potential

Analysts have kept their ZAR price target for AVI broadly steady, with only a marginal tweak reflecting small adjustments to the discount rate, profit margin and assumed future P/E, rather than any major shift in their view of the stock. Valuation Changes Fair Value: ZAR 125.25 remains unchanged, indicating no revision to the central value estimate.
RCL
R8.00
RCL Foods
7D
0.1%
1Y
-19.4%
PMR
R172.86
Premier Group
7D
1.0%
1Y
32.4%
Analysis Article • May 05

With EPS Growth And More, Premier Group (JSE:PMR) Makes An Interesting Case

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
LBR
R4.30
Libstar Holdings
7D
3.9%
1Y
32.3%
Narrative Update • Apr 28

LBR: Dividend Stability And Lower Impairments Will Support Balanced Future Outlook

Analysts have kept their ZAR fair value estimate for Libstar Holdings steady at about ZAR 4.70 per share, reflecting essentially unchanged assumptions around discount rate, revenue growth, profit margin and future P/E. Together, these factors support an unchanged analyst price target.
TBS
R287.46
Tiger Brands
7D
1.3%
1Y
-15.0%
Narrative Update • Apr 25

TBS: Special Dividend And Stable Assumptions Will Shape A Steady Risk Balance

Analysts have reiterated their ZAR280.00 price target for Tiger Brands, pointing to slightly higher long term revenue growth assumptions, a modestly lower profit margin outlook, and a small uplift in expected future P/E as the key drivers behind the unchanged fair value view. Valuation Changes Fair Value: ZAR280.00 remains unchanged, with no adjustment to the overall valuation anchor.
SHG
R8.65
Sea Harvest Group
7D
2.7%
1Y
13.8%
CKS
R19.76
Crookes Brothers
7D
-3.6%
1Y
-35.2%