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South African (JSE) Food Industry Analysis

UpdatedFeb 25, 2026
DataAggregated Company Financials
Companies13
  • 7D1.3%
  • 3M4.8%
  • 1Y28.7%
  • YTD1.8%

The Food industry is up 1.3% in the last week, with Tiger Brands up 4.3%. In the same time, Rainbow Chicken was down 5.5%. This means that the industry has gained 29% over the past year. Earnings are forecast to grow by 21% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Feb 2026R160.6bR182.8bR12.7b10.1x12.7x0.9x
Fri, 23 Jan 2026R159.3bR182.8bR12.7b9.9x12.6x0.9x
Sun, 21 Dec 2025R157.2bR182.8bR12.7b9.2x12.4x0.9x
Tue, 18 Nov 2025R149.8bR184.6bR12.4b7.5x12.1x0.8x
Thu, 16 Oct 2025R141.8bR183.3bR12.2b7.8x11.6x0.8x
Sat, 13 Sep 2025R136.1bR183.0bR12.2b7.7x11.2x0.7x
Mon, 11 Aug 2025R132.7bR184.1bR11.4b8.1x11.6x0.7x
Wed, 09 Jul 2025R133.9bR184.1bR11.4b8.1x11.7x0.7x
Fri, 06 Jun 2025R137.9bR182.9bR11.5b10.6x11.9x0.8x
Sun, 04 May 2025R131.8bR181.5bR10.6b9.5x12.4x0.7x
Tue, 01 Apr 2025R125.8bR181.5bR10.6b8.4x11.8x0.7x
Thu, 27 Feb 2025R127.2bR183.1bR10.6b9.1x12x0.7x
Sat, 25 Jan 2025R134.1bR183.1bR10.6b10.2x12.6x0.7x
Mon, 23 Dec 2024R141.7bR183.1bR10.6b11x13.3x0.8x
Wed, 20 Nov 2024R128.2bR183.3bR10.5b11.4x12.2x0.7x
Fri, 18 Oct 2024R127.0bR182.1bR9.4b12.3x13.5x0.7x
Sun, 15 Sep 2024R123.3bR181.0bR8.9b11.6x13.8x0.7x
Tue, 13 Aug 2024R114.0bR194.9bR8.8b10.1x13x0.6x
Thu, 11 Jul 2024R114.3bR194.9bR8.8b10.1x13x0.6x
Sat, 08 Jun 2024R104.3bR180.9bR8.4b9.1x12.5x0.6x
Mon, 06 May 2024R103.8bR180.9bR8.0b9.3x13x0.6x
Wed, 03 Apr 2024R105.1bR180.9bR8.0b9.2x13.2x0.6x
Fri, 01 Mar 2024R103.0bR178.7bR7.2b10.2x14.4x0.6x
Sun, 28 Jan 2024R102.7bR194.5bR5.9b10.9x17.4x0.5x
Tue, 26 Dec 2023R99.5bR194.5bR5.9b10.5x16.9x0.5x
Thu, 23 Nov 2023R94.9bR192.8bR6.0b10x15.9x0.5x
Sat, 21 Oct 2023R88.9bR192.7bR7.0b9.3x12.7x0.5x
Mon, 18 Sep 2023R92.7bR192.7bR7.0b9.8x13.2x0.5x
Wed, 16 Aug 2023R92.6bR191.1bR7.3b9.3x12.8x0.5x
Fri, 14 Jul 2023R93.0bR191.1bR7.3b9.5x12.8x0.5x
Sun, 11 Jun 2023R1.6tR173.3bR6.7b9.2x234.4x9x
Tue, 09 May 2023R94.8bR167.6bR6.9b10.6x13.6x0.6x
Thu, 06 Apr 2023R99.2bR167.6bR7.0b10.7x14.3x0.6x
Sat, 04 Mar 2023R98.7bR161.5bR7.7b10.4x12.8x0.6x
Price to Earnings Ratio

12.8x


Total Market Cap: R98.7bTotal 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 0.67x.
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 Market3.58%
Consumer Staples0.73%
Food1.31%
Agricultural Products4.62%
Packaged Foods and Meats1.30%
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 20.7%, 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 8.8x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 21% 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 BrandsR340.404.3%
+R2.1b		28.2%PE12.5x
AVI AVIR115.171.7%
+R641.1m		25.2%PE15.7x
ARL Astral FoodsR278.251.1%
+R115.6m		67.6%PE12.2x
RCL RCL FoodsR8.811.3%
+R98.7m		-14.3%PE5.6x
PMR Premier GroupR187.700.07%
+R18.0m		59.0%PE17.8x

Latest News

BRT
R6.01
Brimstone Investment
7D
0.2%
1Y
20.2%
TBS
R340.40
Tiger Brands
7D
4.3%
1Y
28.2%
ARL
R278.25
Astral Foods
7D
1.1%
1Y
67.6%

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).
LBR
R4.49
Libstar Holdings
7D
-0.4%
1Y
13.7%

LBR: Minor Assumption Tweaks Will Likely Reaffirm Persistent Overvaluation

Analysts have held their fair value estimate for Libstar Holdings steady at ZAR3.98 per share, with only small tweaks to inputs such as the discount rate and assumed future P/E. Together, these inputs support an unchanged overall price target narrative.
QFH
R8.74
Quantum Foods Holdings
7D
-12.5%
1Y
40.3%
RBO
R6.90
Rainbow Chicken
7D
-5.5%
1Y
76.9%
RCL
R8.81
RCL Foods
7D
1.3%
1Y
-14.3%
OCE
R53.25
Oceana Group
7D
-3.2%
1Y
-15.8%
AVI
R115.17
AVI
7D
1.7%
1Y
25.2%
CKS
R19.25
Crookes Brothers
7D
4.6%
1Y
-39.8%
RFG
R26.08
RFG Holdings
7D
-1.1%
1Y
32.4%
PMR
R187.70
Premier Group
7D
0.07%
1Y
59.0%
SHG
R9.37
Sea Harvest Group
7D
-0.8%
1Y
40.3%