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South African (JSE) Food Industry Analysis

UpdatedJun 12, 2026
DataAggregated Company Financials
Companies12
  • 7D1.7%
  • 3M-3.8%
  • 1Y5.5%
  • YTD-10.2%

The Food industry has gained 1.7% in the last week and Tiger Brands up 1.7%. Meanwhile, Brimstone Investment actually underperformed within the industry, shrinking 17% in the last week. In the last 12 months, the industry was up 5.5%. Looking forward, 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
Fri, 12 Jun 2026R135.2bR175.2bR12.3b9.5x11x0.8x
Sun, 10 May 2026R138.2bR174.3bR12.4b10.3x11.2x0.8x
Tue, 07 Apr 2026R140.7bR174.3bR12.4b10.3x11.4x0.8x
Thu, 05 Mar 2026R151.4bR182.5bR12.3b10.4x12.3x0.8x
Sat, 31 Jan 2026R156.1bR182.8bR12.7b9.3x12.3x0.9x
Mon, 29 Dec 2025R156.4bR182.8bR12.7b9.1x12.4x0.9x
Wed, 26 Nov 2025R148.6bR186.2bR12.6b8.8x11.8x0.8x
Fri, 24 Oct 2025R144.4bR183.3bR12.2b7.8x11.9x0.8x
Sun, 21 Sep 2025R143.4bR183.0bR12.2b8x11.8x0.8x
Tue, 19 Aug 2025R136.0bR184.1bR11.4b9.7x11.9x0.7x
Thu, 17 Jul 2025R133.0bR184.1bR11.4b7.8x11.7x0.7x
Sat, 14 Jun 2025R135.1bR184.0bR11.4b10.2x11.9x0.7x
Mon, 12 May 2025R131.7bR181.5bR10.6b9.9x12.4x0.7x
Wed, 09 Apr 2025R123.2bR181.5bR10.6b8.5x11.6x0.7x
Fri, 07 Mar 2025R125.5bR181.6bR10.7b9.4x11.7x0.7x
Sun, 02 Feb 2025R132.2bR183.1bR10.6b10x12.4x0.7x
Tue, 31 Dec 2024R138.0bR183.1bR10.6b11.4x13x0.8x
Thu, 28 Nov 2024R131.8bR182.8bR10.4b11.4x12.7x0.7x
Sat, 26 Oct 2024R126.3bR182.1bR9.4b12.1x13.4x0.7x
Mon, 23 Sep 2024R128.4bR181.0bR8.9b11.5x14.4x0.7x
Wed, 21 Aug 2024R117.4bR194.9bR8.8b10.3x13.4x0.6x
Fri, 19 Jul 2024R115.3bR194.9bR8.8b10.2x13.1x0.6x
Sun, 16 Jun 2024R106.8bR180.8bR8.6b9.3x12.4x0.6x
Tue, 14 May 2024R104.1bR180.9bR8.0b9.2x13.1x0.6x
Thu, 11 Apr 2024R105.1bR180.9bR8.0b9.2x13.2x0.6x
Sat, 09 Mar 2024R106.7bR180.5bR7.7b8.6x13.9x0.6x
Mon, 05 Feb 2024R103.7bR194.5bR5.9b11.1x17.6x0.5x
Wed, 03 Jan 2024R100.1bR194.5bR5.9b10.5x17x0.5x
Fri, 01 Dec 2023R96.0bR193.5bR6.1b10x15.9x0.5x
Sun, 29 Oct 2023R88.9bR192.7bR7.0b9.5x12.7x0.5x
Tue, 26 Sep 2023R89.3bR192.7bR7.0b9.3x12.7x0.5x
Thu, 24 Aug 2023R93.9bR191.1bR7.3b9.3x12.9x0.5x
Sat, 22 Jul 2023R90.9bR191.1bR7.3b9.4x12.5x0.5x
Mon, 19 Jun 2023R92.4bR191.2bR7.5b9.5x12.4x0.5x
Price to Earnings Ratio

12.4x


Total Market Cap: R92.4bTotal Earnings: R7.5bTotal Revenue: R191.2bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Food Industry Price to Earnings3Y Average 12.8x202420252026
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 11.0x which is lower than its 3-year average PE of 12.8x.
  • 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.
  • Meanwhile revenues for these companies have declined 2.9% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

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

ZA Market-0.53%
Consumer Staples2.51%
Food1.67%
Packaged Foods and Meats1.67%
Agricultural Products-0.25%
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 12.7x.
    • Analysts are expecting annual earnings growth of 12.0%, which is lower than the prior year's growth of 17.3% per year.
  • Investors are most pessimistic about the Agricultural Products industry, which is trading below its 3-year average of 7.9x.
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 17% 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
TBS Tiger BrandsR293.843.4%
+R1.4b		-8.9%PE13.3x
AVI AVIR97.374.0%
+R1.2b		11.6%PE12.5x
PMR Premier GroupR177.994.6%
+R1.0b		28.5%PE16.9x
OCE Oceana GroupR64.584.2%
+R308.9m		15.2%PE10.9x
QFH Quantum Foods HoldingsR10.899.2%
+R187.8m		9.0%PE7.1x

Latest News

AVI
R97.37
AVI
7D
4.0%
1Y
11.6%
LBR
R4.10
Libstar Holdings
7D
-2.4%
1Y
30.2%
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LBR: Higher Multiple Expectations And Dividend Stability Will Support Future Upside

Analysts have lifted their ZAR fair value estimate for Libstar Holdings from ZAR4.70 to ZAR4.90, citing adjusted assumptions around discount rates, revenue growth, profit margins and a higher future P/E multiple as the key drivers behind the new price target. What's in the News At the Annual General Meeting on May 29, 2026, shareholders approved amendments to Libstar Holdings' Memorandum of Incorporation to align with changes to the JSE Listing Requirements.
ARL
R228.34
Astral Foods
7D
-2.4%
1Y
27.6%
TBS
R293.84
Tiger Brands
7D
3.4%
1Y
-8.9%
BRT
R5.01
Brimstone Investment
7D
-16.5%
1Y
22.2%
QFH
R10.89
Quantum Foods Holdings
7D
9.2%
1Y
9.0%
OCE
R64.58
Oceana Group
7D
4.2%
1Y
15.2%
RCL
R7.76
RCL Foods
7D
-6.8%
1Y
-20.2%
PMR
R177.99
Premier Group
7D
4.6%
1Y
28.5%
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SHG
R8.18
Sea Harvest Group
7D
-1.4%
1Y
-3.8%
RBO
R5.90
Rainbow Chicken
7D
-0.7%
1Y
47.5%
CKS
R20.00
Crookes Brothers
7D
-0.2%
1Y
-27.3%