Start here if you're new
what it is
Jabil builds electronics for other companies, from cloud hardware to medical gear, so brands can sell devices without owning the factories.
how it gets paid
Last year Jabil made $29.8B in revenue.
why it's growing
Full-year revenue grew 3.2%; the latest quarter rose ~19% vs. prior year on this feed—do not annualize one quarter off that pace.
what just happened
Latest quarter: ~$8.3B revenue; GAAP EPS ~$3.29 in this feed vs. core/adjusted ~$2.85 and consensus near ~$2.86—compare like to like before calling a beat.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
75/100 earnings predictability — reasonably predictable
25.4x trailing p/e — priced about right
0.1% dividend yield — cash in your pocket every quarter
34.5% return on capital — every dollar works hard here
xvary composite: 69/100 — average
What they do
Jabil builds electronics for other companies, from cloud hardware to medical gear, so brands can sell devices without owning the factories.
Jabil wins because customers outsource the hard part: building complex hardware at scale across 100 locations in 30 countries. Outsourcing → paying someone else to run your factories → so what: your customer saves time, avoids capex, and hates switching suppliers mid-program. That reach helped Jabil produce a 34.5% return on capital, versus an 8.0% operating margin that tells you this is a volume machine, not a luxury brand.
How they make money
$29.8B
annual revenue · their business grew +3.2% last year
total revenue
$29.8B
+3.2%
The products that matter
manufactures and assembles electronics
Electronics Manufacturing Services
$29.8B revenue
it's effectively the whole $29.8B business, and it converts that scale into about a 4.2% net margin on this feed. that sounds small because it is.
scale business
AI and infrastructure demand
Intelligent Infrastructure
+54% recent growth
management said this unit's revenue jumped 54% in the latest quarter. that's the hottest part of the story, and the reason investors are paying up.
current engine
AI-related manufacturing exposure
AI-related Revenue
$12.1B est. for fy2026
management's in-house estimate is $12.1B for fiscal 2026, up 35% from the prior year expectation and higher than the 25% growth forecast it gave three months earlier. that's the number telling you how real this demand wave is.
35% growth
Key numbers
8%
debt to capital
Long-term debt is just 8% of capital, which means the balance sheet is carrying far less weight than the stock's 25.4x earnings multiple.
34.5%
return on capital
Return on capital → profit generated from money invested in the business → so what: Jabil is getting a lot of output from each dollar tied up in operations.
8.9%
gross margin
Gross margin → money left after production costs → so what: this is still a scale business where execution matters more than pricing power.
25.4x
trailing p/e
P/E → how much investors pay for each dollar of profit → so what: you are paying a premium price for a company with a 4.2% net margin.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 3 — safer than 50% of stocks
- price stability 50 / 100
- long-term debt $2.4B (8% of capital)
- net profit margin 4.2% — keeps 4 cents of every dollar in revenue
- return on equity 72% — $0.72 profit for every $1 investors have put in
B++ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in JBL 3 years ago → it's now worth $29,890.
The index would have given you $14,540.
source: institutional data · total return
What just happened
beat estimates
Jabil posted $8.3B in quarterly revenue and EPS of $3.29, crushing the prior estimate of $2.86.
Revenue rose 19% vs. prior year in the latest quarter, while GAAP EPS jumped 53% to $3.29 in this feed—below, the wire cites core adjusted EPS near $2.85 for the same quarter (+42% vs. prior year there). Same print, different lines: reconcile GAAP vs. core before you compare to consensus. Management also pointed to a strong start to fiscal 2026, with second-quarter core EPS expected to grow 25% to 30% on 15% revenue growth.
$8.3B
rev (q)
$3.29
eps (q · GAAP)
8.9%
gross margin (q)
the number that mattered
The 19% revenue growth mattered most, because it shows Jabil is not just cutting costs better; demand actually accelerated.
-
jabil is off to a good start in fiscal 2026. (year ends august 31st.) the electronic manufacturing service company posted core adjusted earnings of $2.85 per share (+42% vs. prior year) on revenue of $8.31 billion (+19%) in its first fiscal quarter of the new year.per-share profits exceeded the consensus estimate by $0.12, while the top line surpassed the median wall street expectation by $210 million. leadership credited ongoing strength in the intelligent infrastructure (ii) segment, which is being supported by accelerating demand across cloud computing, data center infrastructure, networking, and capital equipment.
-
revenue in that unit leaped 54% year on year.
-
meanwhile, the connected living & digital commerce and regulated industries segments managed to grow their respective top lines by 10% and 4%.
-
management’s second-quarter outlook calls for 25%-30% core earnings-per-share growth on a 15% revenue gain.for the full fiscal year, it lifted its financial targets to $11.55 per share for core earnings ($11.00 previously) and $32.4 billion for revenues ($31.2 billion previously). jabil expects top-line growth at the ii unit to moderate somewhat in upcoming quarters while the other segments flatten. leadership is projecting excellent AI-related revenue growth for fiscal 2026, with solid gains expected through late decade.
-
the in-house estimate of $12.1 billion represents 35% year-on-year growth, which was adjusted up from a 25% rate forecast three months prior.
source: company earnings report, 2026
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What could go wrong
the top threat is AI infrastructure demand cooling before Jabil's fiscal 2026 guidance is earned.
med
customer concentration
Jabil builds for large customers. That's the business model. If one major program slows, the revenue base does not drift lower — it drops quickly.
With $29.8B in annual revenue and just a 4.2% net margin, even a modest loss of volume can hit earnings harder than the revenue change suggests.
med
AI and infrastructure mix normalizing
The hottest number on the page is 54% growth in intelligent infrastructure and a $12.1B AI-related revenue outlook for fiscal 2026. If that demand cools, the premium multiple stops making sense fast.
This matters because management raised full-year guidance to $11.55 in core EPS and $32.4B in revenue with that backdrop. Miss the growth engine, and the whole story gets repriced.
med
thin-margin execution risk
A 4.2% net margin leaves little room for manufacturing hiccups, bad pricing, or inefficient utilization. This is not a software company where the gross margin absorbs your mistakes.
On $29.8B of revenue, small operating misses can translate into meaningful EPS pressure. That's why the business can look stable until it suddenly doesn't.
med
multiple compression
The stock trades at 25.4x trailing earnings. That's generous for a contract manufacturer unless the market believes the mix is getting structurally better.
If growth falls back toward the +3.2% pace of last year instead of the raised fiscal 2026 targets, you are exposed to both lower earnings expectations and a lower multiple.
A forced slowdown in AI-linked demand would pressure the exact segments currently justifying Jabil's premium valuation, while a 4.2% net margin leaves limited room to absorb mistakes.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
core EPS guidance vs. reality
Management raised fiscal 2026 core EPS guidance to $11.55. If you own JBL, this is the number the market will keep score against.
trend
intelligent infrastructure growth
The latest quarter showed 54% growth in intelligent infrastructure. Watch whether that stays extraordinary or starts looking merely good.
risk
margin discipline
A 4.2% net margin means small pricing or utilization misses matter. In this business, operational slippage shows up in earnings quickly.
calendar
the next guidance reset
This page previously pointed to a March 2026 earnings date. Whether that date has passed or not, the real event is the next update on the $32.4B revenue and $12.1B AI-related outlook.
Analyst rankings
short-term outlook
top 20%
momentum score 2 — in human-speak, analysts expect JBL to outperform most stocks over the next year.
risk profile
average
stability score 3 — this is not a bunker stock, but it is not chaos either.
chart momentum
average
technical score 3 — the chart is not flashing an extreme signal right now.
earnings predictability
75 / 100
management's guidance has been reasonably reliable, which matters because the stock now trades on raised expectations.
source: institutional data
Institutional activity
312 buyers vs. 369 sellers in 4q2025. total institutional holdings: 0.1B shares.
source: institutional data
Price targets
3-5 year target range
$191
$413
$247
current price
$302
target midpoint · +22% from current · 3-5yr high: $430 (+75% · 15% ann'l return)
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