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South African (JSE) Food Industry Analysis

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies13
  • 7D2.8%
  • 3M13.6%
  • 1Y19.4%
  • YTD2.8%

The Food industry is up 2.8% in the last week, with Tiger Brands up 3.1%. This takes the industry's 12 month performance to a gain of 19%. Looking forward, earnings are forecast to grow by 9.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 11 Jan 2026R162.3bR182.8bR12.7b9x12.8x0.9x
Tue, 09 Dec 2025R154.1bR182.8bR12.7b8.8x12.1x0.8x
Thu, 06 Nov 2025R143.2bR184.0bR12.3b7.4x11.7x0.8x
Sat, 04 Oct 2025R139.9bR183.3bR12.2b7.8x11.5x0.8x
Mon, 01 Sep 2025R136.8bR183.9bR11.4b9x12x0.7x
Wed, 30 Jul 2025R133.0bR184.1bR11.4b8.1x11.7x0.7x
Fri, 27 Jun 2025R137.1bR184.0bR11.4b9.9x12.1x0.7x
Sun, 25 May 2025R135.2bR182.6bR10.5b9.3x12.8x0.7x
Tue, 22 Apr 2025R127.9bR181.5bR10.6b8.4x12x0.7x
Thu, 20 Mar 2025R123.1bR181.5bR10.6b8.8x11.6x0.7x
Sat, 15 Feb 2025R129.1bR183.1bR10.6b9.4x12.1x0.7x
Mon, 13 Jan 2025R137.3bR183.1bR10.6b10.7x12.9x0.7x
Wed, 11 Dec 2024R137.1bR183.1bR10.6b10.4x12.9x0.7x
Fri, 08 Nov 2024R129.3bR182.1bR9.4b12.1x13.8x0.7x
Sun, 06 Oct 2024R128.5bR312.8bR11.1b10.9x11.6x0.4x
Tue, 03 Sep 2024R119.0bR193.7bR8.4b11x14.2x0.6x
Thu, 01 Aug 2024R116.3bR194.9bR8.8b10.2x13.2x0.6x
Sat, 29 Jun 2024R112.5bR181.4bR8.9b9.9x12.6x0.6x
Mon, 27 May 2024R105.2bR180.8bR8.3b9.7x12.7x0.6x
Wed, 24 Apr 2024R101.8bR180.9bR8.0b9.3x12.8x0.6x
Fri, 22 Mar 2024R104.7bR180.9bR8.0b9x13.1x0.6x
Sun, 18 Feb 2024R102.9bR178.7bR7.2b9.8x14.3x0.6x
Tue, 16 Jan 2024R99.2bR194.5bR5.9b10.5x16.8x0.5x
Thu, 14 Dec 2023R97.9bR194.5bR5.9b10.4x16.6x0.5x
Sat, 11 Nov 2023R90.7bR192.7bR7.0b9.5x12.9x0.5x
Mon, 09 Oct 2023R88.8bR192.7bR7.0b9.6x12.7x0.5x
Wed, 06 Sep 2023R94.3bR192.5bR7.1b9.4x13.3x0.5x
Fri, 04 Aug 2023R91.6bR191.1bR7.3b9.4x12.6x0.5x
Sun, 02 Jul 2023R91.3bR191.1bR7.3b9.5x12.6x0.5x
Tue, 30 May 2023R91.3bR169.2bR6.5b10.1x14x0.5x
Thu, 27 Apr 2023R97.0bR167.6bR6.9b10.8x14x0.6x
Sat, 25 Mar 2023R88.1bR167.6bR7.0b10.5x12.7x0.5x
Mon, 20 Feb 2023R95.4bR161.5bR7.7b11.1x12.4x0.6x
Wed, 18 Jan 2023R97.8bR161.5bR7.7b10.9x12.7x0.6x
Price to Earnings Ratio

12.7x


Total Market Cap: R97.8bTotal Earnings: R7.7bTotal Revenue: R161.5bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Food Industry Price to Earnings3Y Average 13.8x202420252026
Current Industry PE
  • Investors are relatively neutral on the South African Food industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 13.8x.
  • The industry is trading close to its 3-year average PS ratio of 0.66x.
Past Earnings Growth
  • The earnings for companies in the Food industry have grown 18% per year over the last three years.
  • Revenues for these companies have grown 4.2% 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 industry?

ZA Market1.61%
Consumer Staples0.72%
Food2.78%
Packaged Foods and Meats2.82%
Agricultural Products-15.46%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry, which is trading close to its 3-year average PE ratio of 13.7x.
    • Analysts are expecting annual earnings growth of 9.2%, which is lower than the prior year's growth of 24.0% per year.
  • Investors are most pessimistic about the Agricultural Products industry, which is trading below its 3-year average of 9.2x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 9.2% over the next 5 years.
  • However this is lower than its past earnings growth rate of 24% per year.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 9.2% 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
TBS Tiger BrandsR380.873.1%
+R1.7b		31.5%PE14x
AVI AVIR109.903.4%
+R1.2b		5.1%PE15x
PMR Premier GroupR175.004.0%
+R862.4m		34.6%PE16.6x
RBO Rainbow ChickenR5.359.6%
+R419.7m		37.5%PE8.4x
RFG RFG HoldingsR24.053.9%
+R235.3m		26.4%PE14.1x

Latest News

TBS
R380.87
Tiger Brands
7D
3.1%
1Y
31.5%

TBS: Future Payouts And Buybacks Will Mask Earnings Quality Risk

Analysts have revised their fair value estimate for Tiger Brands from R253.00 to R280.00, citing adjusted assumptions for revenue growth, profit margins, and a lower future P/E multiple as the key drivers of the new price target. What's in the News Tiger Brands announced a gross special dividend of 2,710.00 cents per ordinary share, with a net amount of 2,168.00 cents per ordinary share, declared on 26 November 2025, subject to South African Reserve Bank approval (Key Developments).
CKS
R20.50
Crookes Brothers
7D
-15.5%
1Y
-36.0%

We Think Crookes Brothers (JSE:CKS) Is Taking Some Risk With Its Debt

Jan 09
We Think Crookes Brothers (JSE:CKS) Is Taking Some Risk With Its Debt
PMR
R175.00
Premier Group
7D
4.0%
1Y
34.6%
ARL
R269.88
Astral Foods
7D
-0.9%
1Y
44.6%
BRT
R4.65
Brimstone Investment
7D
3.3%
1Y
-7.7%
OCE
R54.21
Oceana Group
7D
-3.2%
1Y
-19.3%
RFG
R24.05
RFG Holdings
7D
3.9%
1Y
26.4%
LBR
R4.71
Libstar Holdings
7D
-0.4%
1Y
12.1%
QFH
R8.65
Quantum Foods Holdings
7D
6.8%
1Y
1.8%
SHG
R9.43
Sea Harvest Group
7D
-0.7%
1Y
14.2%
RBO
R5.35
Rainbow Chicken
7D
9.6%
1Y
37.5%
RCL
R10.06
RCL Foods
7D
2.4%
1Y
4.6%
AVI
R109.90
AVI
7D
3.4%
1Y
5.1%