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South African (JSE) Food Industry Analysis

UpdatedJan 25, 2026
DataAggregated Company Financials
Companies13
  • 7D0.7%
  • 3M9.7%
  • 1Y19.3%
  • YTD0.3%

Over the last 7 days, the Food industry has remained flat, although notably Astral Foods gained 3.8%. As for the the longer term, the industry is up 19% over the past 12 months. Earnings are forecast to grow by 8.8% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 25 Jan 2026R158.4bR182.8bR12.7b9.9x12.5x0.9x
Tue, 23 Dec 2025R155.6bR182.8bR12.7b9x12.3x0.9x
Thu, 20 Nov 2025R148.5bR186.4bR12.7b7.6x11.7x0.8x
Sat, 18 Oct 2025R142.7bR183.3bR12.2b7.8x11.7x0.8x
Mon, 15 Sep 2025R136.1bR183.0bR12.2b7.7x11.2x0.7x
Wed, 13 Aug 2025R134.4bR184.1bR11.4b10.1x11.8x0.7x
Fri, 11 Jul 2025R134.7bR184.1bR11.4b8x11.8x0.7x
Sun, 08 Jun 2025R139.1bR182.9bR11.5b10.6x12x0.8x
Tue, 06 May 2025R132.0bR181.5bR10.6b9.3x12.4x0.7x
Thu, 03 Apr 2025R126.2bR181.5bR10.6b8.5x11.9x0.7x
Sat, 01 Mar 2025R126.0bR183.1bR10.6b9.2x11.9x0.7x
Mon, 27 Jan 2025R134.1bR183.1bR10.6b10.2x12.6x0.7x
Wed, 25 Dec 2024R139.2bR183.1bR10.6b11.3x13.1x0.8x
Fri, 22 Nov 2024R130.7bR183.3bR10.5b10.9x12.5x0.7x
Sun, 20 Oct 2024R126.5bR182.1bR9.4b12.3x13.5x0.7x
Tue, 17 Sep 2024R123.0bR165.2bR6.7b10.8x18.4x0.7x
Thu, 15 Aug 2024R115.8bR194.9bR8.8b10.2x13.2x0.6x
Sat, 13 Jul 2024R115.0bR194.9bR8.8b10.3x13.1x0.6x
Mon, 10 Jun 2024R104.2bR180.8bR8.5b9.1x12.3x0.6x
Wed, 08 May 2024R103.8bR180.9bR8.0b9.3x13x0.6x
Fri, 05 Apr 2024R104.7bR180.9bR8.0b9.3x13.1x0.6x
Sun, 03 Mar 2024R102.7bR178.7bR7.2b10.3x14.3x0.6x
Tue, 30 Jan 2024R102.2bR194.5bR5.9b11.2x17.3x0.5x
Thu, 28 Dec 2023R99.8bR194.5bR5.9b10.4x16.9x0.5x
Sat, 25 Nov 2023R95.2bR193.0bR6.0b9.9x15.8x0.5x
Mon, 23 Oct 2023R88.9bR192.7bR7.0b9.3x12.7x0.5x
Wed, 20 Sep 2023R91.8bR192.7bR7.0b9.6x13.1x0.5x
Fri, 18 Aug 2023R93.5bR191.1bR7.3b9.4x12.9x0.5x
Sun, 16 Jul 2023R92.3bR191.1bR7.3b9.5x12.7x0.5x
Tue, 13 Jun 2023R88.4bR191.2bR7.5b9.3x11.8x0.5x
Thu, 11 May 2023R93.5bR167.6bR6.9b10.4x13.5x0.6x
Sat, 08 Apr 2023R98.8bR167.6bR7.0b10.7x14.2x0.6x
Mon, 06 Mar 2023R98.7bR161.5bR7.7b10.4x12.8x0.6x
Wed, 01 Feb 2023R94.4bR161.5bR7.7b11x12.3x0.6x
Price to Earnings Ratio

12.3x


Total Market Cap: R94.4bTotal 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 Market2.11%
Consumer Staples-1.85%
Food0.67%
Packaged Foods and Meats0.67%
Agricultural Products0%0
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 8.8%, 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 9.0x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 8.8% 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 8.8% 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 FoodsR271.683.8%
+R387.6m		54.0%PE11.9x
PMR Premier GroupR181.771.4%
+R324.8m		41.5%PE17.2x
OCE Oceana GroupR61.003.2%
+R227.5m		-9.8%PE10.8x
QFH Quantum Foods HoldingsR9.3111.4%
+R192.8m		14.4%PE6.8x
RBO Rainbow ChickenR5.783.2%
+R160.7m		56.2%PE9x

Latest News

TBS
R341.74
Tiger Brands
7D
-0.3%
1Y
24.0%

TBS: Special Dividend And Buybacks Will Temper Uncertain Future Earnings Outlook

Analysts have lifted their price target for Tiger Brands from R310.33 to R350.75, citing updated assumptions for revenue growth of 5.08%, a profit margin of 9.90% and a lower future P/E of 19.77, while holding the discount rate steady at 16.73%. What's in the News Tiger Brands declared a gross special dividend of 2,710.00 cents per ordinary share, with a net amount of 2,168.00 cents per share, subject to approval by the South African Reserve Bank.
ARL
R271.68
Astral Foods
7D
3.8%
1Y
54.0%
RFG
R25.00
RFG Holdings
7D
2.2%
1Y
28.2%
PMR
R181.77
Premier Group
7D
1.4%
1Y
41.5%
QFH
R9.31
Quantum Foods Holdings
7D
11.4%
1Y
14.4%
LBR
R4.69
Libstar Holdings
7D
-0.2%
1Y
15.0%

LBR: Future Profitability Assumptions Will Likely Prove Too Optimistic

Analysts have raised their price target range for Libstar Holdings, reflecting a fair value change from R3.43 to R3.98. They cite updated assumptions regarding revenue growth, profit margins, and a lower implied future P/E multiple.
BRT
R5.00
Brimstone Investment
7D
0.8%
1Y
-2.0%
OCE
R61.00
Oceana Group
7D
3.2%
1Y
-9.8%
SHG
R9.10
Sea Harvest Group
7D
-3.4%
1Y
14.5%
RBO
R5.78
Rainbow Chicken
7D
3.2%
1Y
56.2%
RCL
R9.92
RCL Foods
7D
-2.9%
1Y
2.4%
AVI
R108.79
AVI
7D
0.4%
1Y
4.9%