Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

South African (JSE) Food Industry Analysis

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies13
  • 7D-1.0%
  • 3M-6.6%
  • 1Y15.5%
  • YTD-7.0%

In the last week, Food has been flat. As for the the longer term, the industry is up 16% over the past 12 months. Looking forward, earnings are forecast to grow by 7.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Apr 2026R147.3bR182.4bR12.8b11x11.5x0.8x
Fri, 27 Feb 2026R156.6bR182.8bR12.7b10.4x12.4x0.9x
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
Price to Earnings Ratio

14.2x


Total Market Cap: R98.8bTotal Earnings: R7.0bTotal Revenue: R167.6bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Food Industry Price to Earnings3Y Average 13.8x202420252026
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 11.5x which is lower than its 3-year average PE of 13.8x.
  • 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 23% per year over the last three years.
  • Revenues for these companies have grown 2.9% 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 Market2.00%
Consumer Staples0.89%
Food-0.97%
Agricultural Products1.43%
Packaged Foods and Meats-0.98%
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 13.6x.
    • Analysts are expecting annual earnings growth of 7.0%, which is lower than the prior year's growth of 22.3% per year.
  • Investors are most pessimistic about the Agricultural Products industry, which is trading below its 3-year average of 8.5x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 7.0% over the next 5 years.
  • However this is lower than its past earnings growth rate of 22% per year.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 7.0% 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 BrandsR303.471.3%
+R597.8m		9.0%PE11.2x
QFH Quantum Foods HoldingsR11.8916.0%
+R332.9m		81.5%PE8.7x
ARL Astral FoodsR257.972.0%
+R191.5m		57.3%PE11.3x
OCE Oceana GroupR53.272.2%
+R136.5m		-8.1%PE9.5x
CKS Crookes BrothersR17.751.4%
+R3.8m		-37.7%PE5.4x

Latest News

SHG
R8.84
Sea Harvest Group
7D
-3.9%
1Y
29.1%
LBR
R4.21
Libstar Holdings
7D
-13.2%
1Y
17.3%
AVI
R103.50
AVI
7D
-0.2%
1Y
16.4%
QFH
R11.89
Quantum Foods Holdings
7D
16.0%
1Y
81.5%
ARL
R257.97
Astral Foods
7D
2.0%
1Y
57.3%

ARL: Interim Earnings Guidance And Stable Assumptions Will Support Balanced Outlook

Astral Foods' analyst price target has been reaffirmed at ZAR265, with analysts citing consistent assumptions for the discount rate, revenue growth, profit margin and future P/E as the basis for keeping their valuation unchanged. What's in the News Astral Foods issued earnings guidance for the six months ending 31 March 2026, with EPS expected to be at least ZAR 21.95 compared with ZAR 4.72 for HY2025, indicating a substantial increase in earnings on this measure (Key Developments).
BRT
R4.80
Brimstone Investment
7D
-6.8%
1Y
9.1%
TBS
R303.47
Tiger Brands
7D
1.3%
1Y
9.0%

TBS: Special Dividend And Stable Assumptions Will Define A Balanced Risk Outlook

Analysts kept their ZAR280.00 price target for Tiger Brands unchanged, pointing to relatively steady assumptions around revenue growth, profit margins and future P/E expectations as the key reasons for holding their view. 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 share, declared on 26 November 2025 (company announcement).
RBO
R6.70
Rainbow Chicken
7D
-2.2%
1Y
99.4%
RCL
R8.15
RCL Foods
7D
-3.0%
1Y
-15.5%
PMR
R169.98
Premier Group
7D
-3.5%
1Y
32.3%
OCE
R53.27
Oceana Group
7D
2.2%
1Y
-8.1%
CKS
R17.75
Crookes Brothers
7D
1.4%
1Y
-37.7%