South African (JSE) Food Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 13 Aug 2026	R136.7b	R175.9b	R12.2b	11.4x	11.2x	0.8x
Sat, 11 Jul 2026	R144.4b	R175.9b	R12.2b	11.8x	11.9x	0.8x
Mon, 08 Jun 2026	R132.8b	R175.2b	R12.3b	9.4x	10.8x	0.8x
Wed, 06 May 2026	R138.5b	R174.3b	R12.4b	10.2x	11.2x	0.8x
Fri, 03 Apr 2026	R140.7b	R174.3b	R12.4b	10.3x	11.4x	0.8x
Sun, 01 Mar 2026	R156.0b	R182.8b	R12.7b	10.4x	12.3x	0.9x
Tue, 27 Jan 2026	R157.5b	R182.8b	R12.7b	9.3x	12.4x	0.9x
Thu, 25 Dec 2025	R156.4b	R182.8b	R12.7b	9.1x	12.4x	0.9x
Sat, 22 Nov 2025	R149.0b	R186.4b	R12.7b	7.7x	11.7x	0.8x
Mon, 20 Oct 2025	R142.7b	R183.3b	R12.2b	7.8x	11.7x	0.8x
Wed, 17 Sep 2025	R137.5b	R183.0b	R12.2b	7.7x	11.3x	0.8x
Fri, 15 Aug 2025	R134.5b	R184.1b	R11.4b	10.1x	11.8x	0.7x
Sun, 13 Jul 2025	R133.6b	R184.1b	R11.4b	8x	11.7x	0.7x
Tue, 10 Jun 2025	R139.1b	R182.9b	R11.5b	10.6x	12x	0.8x
Thu, 08 May 2025	R131.8b	R181.5b	R10.6b	9.2x	12.4x	0.7x
Sat, 05 Apr 2025	R118.7b	R181.5b	R10.6b	8.4x	11.2x	0.7x
Mon, 03 Mar 2025	R126.6b	R183.1b	R10.6b	9.2x	11.9x	0.7x
Wed, 29 Jan 2025	R132.7b	R183.1b	R10.6b	10x	12.5x	0.7x
Fri, 27 Dec 2024	R139.2b	R183.1b	R10.6b	11.3x	13.1x	0.8x
Sun, 24 Nov 2024	R131.7b	R183.3b	R10.5b	11.4x	12.5x	0.7x
Tue, 22 Oct 2024	R126.3b	R182.1b	R9.4b	12.2x	13.5x	0.7x
Thu, 19 Sep 2024	R123.3b	R181.0b	R8.9b	11.1x	13.8x	0.7x
Sat, 17 Aug 2024	R116.3b	R194.9b	R8.8b	10.1x	13.2x	0.6x
Mon, 15 Jul 2024	R115.0b	R194.9b	R8.8b	10.3x	13.1x	0.6x
Wed, 12 Jun 2024	R104.0b	R180.8b	R8.5b	9.3x	12.3x	0.6x
Fri, 10 May 2024	R104.0b	R180.9b	R8.0b	9.4x	13x	0.6x
Sun, 07 Apr 2024	R104.2b	R180.9b	R8.0b	9.2x	13.1x	0.6x
Tue, 05 Mar 2024	R102.3b	R179.2b	R7.4b	8.9x	13.9x	0.6x
Thu, 01 Feb 2024	R103.6b	R194.5b	R5.9b	11.1x	17.6x	0.5x
Sat, 30 Dec 2023	R100.2b	R194.5b	R5.9b	10.5x	17x	0.5x
Mon, 27 Nov 2023	R95.2b	R193.0b	R6.0b	9.9x	15.8x	0.5x
Wed, 25 Oct 2023	R89.5b	R192.7b	R7.0b	9.4x	12.8x	0.5x
Fri, 22 Sep 2023	R90.5b	R192.7b	R7.0b	9.4x	12.9x	0.5x
Sun, 20 Aug 2023	R92.6b	R191.1b	R7.3b	9.3x	12.8x	0.5x

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 11.3x which is lower than its 3-year average PE of 12.7x.

The industry is trading close to its 3-year average PS ratio of 0.68x.

Past Earnings Growth

The earnings for companies in the Food industry have grown 19% per year over the last three years.
Meanwhile revenues for these companies have declined 2.7% 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	-0.75%
Consumer Staples	1.14%
Food	-1.38%
Agricultural Products	2.22%
Packaged Foods and Meats	-1.38%

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 12.6x.

Analysts are expecting annual earnings growth of 40.1%, which is higher than its past year's earnings growth of 17.3% per year.

Forecasted Growth

Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 40% over the next 5 years.
This is better 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 40% per year over the next few years.

Company	Last Price	7D	1Y	Valuation
RBO Rainbow Chicken	R6.05	7.1% +R359.5m	32.1%	PE5.9x
QFH Quantum Foods Holdings	R8.53	10.1% +R159.2m	25.3%	PE5.6x
CKS Crookes Brothers	R18.40	2.2% +R6.1m	-35.6%	PS0.4x

Company

Last Price

Valuation

RBO Rainbow Chicken

R6.05

7.1%
+R359.5m

32.1%

PE5.9x

QFH Quantum Foods Holdings

R8.53

10.1%
+R159.2m

25.3%

PE5.6x

CKS Crookes Brothers

R18.40

2.2%
+R6.1m

-35.6%

PS0.4x

Astral Foods Limited Announces Appointment of Directors and Members of the Audit and Risk Committee, Effective August 1, 2026

Astral Foods Limited had appointed Ms Alexander Muller and Ms Marion Shikwinya as Independent Non-Executive Directors to the Board of Directors and members of the Audit and Risk Committee with effect from August 1, 2026. Alexander is a Chartered Accountant, having completed her articles at PricewaterhouseCoopers Inc. (PwC) in 2002. She joined the PwC partnership in 2010 to February 2019, and since 2014, was responsible for heading up the Governance, Risk and Internal Audit Practice in the Financial Services Assurance division at PwC. She is a former Non-Executive Director and Audit and Risk Committee Chairperson of Murray and Roberts Holdings Limited. Alexander is currently a Non-Executive Director of AVI Limited, where she chairs the Social and Ethics Committee and is a member of the Audit and Risk Committee. She is also a Non-Executive Director of Infiniti Insurance Limited, a member of the Audit and Risk Committee, Compliance Committee as well as the Remuneration Committee. Alexander serves as a member of the Nominations Committee at Discovery Health Medical Scheme. Marion, an admitted attorney, practiced with Adams & Adams and Webber Wentzel Attorneys, where she focused on Intellectual Property as well as mergers and acquisitions. She is a seasoned Legal, Risk, Compliance and ESG expert. Marion currently serves on a variety of boards, including the listed Mahube Infrastructure Limited. She represents Agbiz (Agricultural Business Chamber) on the Gauteng Province Agri Black Economic Empowerment Sector Charter Structure and serves on the Market Access Committee, amongst others. She is a former member of the John Deere Africa Board and chaired their Social and Ethics Committee. She is an Independent Non-Executive Director at Mahube, where she chairs the Social and Ethics Committee and is a member of the Investment Committee as well as the Audit and Risk Committee. The Board confirmed that a fit and proper assessment had been conducted on both of these directors and that the Board was satisfied with the outcome of these assessments. In accordance with paragraph 6.74 of the JSE Listings Requirements, the Company advised that Alexander previously served as a director of a company that was placed into liquidation in 2024.

South African (JSE) Food Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Now 21% undervalued

New minor risk - Market cap size

AVI Limited Provides Earnings Guidance for the Year Ended 30 June 2026

Crookes Brothers Limited, Annual General Meeting, Aug 28, 2026

Libstar Holdings Limited Announces Appointment of Cornél Lodewyks as Group Chief Operating Officer, Effective August 1, 2026

Astral Foods Limited Announces Appointment of Directors and Members of the Audit and Risk Committee, Effective August 1, 2026

Upcoming dividend of R4.30 per share

Price target increased by 41% to R90.00

New minor risk - Share price stability

Sea Harvest Group Limited, Annual General Meeting, May 28, 2026

Upcoming dividend of R0.15 per share