olivLaw · US equity research
Jabil Inc. JBL
Printed Circuit Boards · SIC 3672 · Vertical: Printed Circuit Boards (SIC 3672)
Jabil Inc. (NYSE: JBL) is a global provider of engineering, supply chain and manufacturing solutions, which reported net revenue of $36.0 billion for the fiscal year ended August 31, 2026. The company grew revenue 21% in fiscal 2026 and expects fiscal 2027 revenue of $44.5 billion, up 24%.
At the close of 04 Nov 2026, Jabil Inc. (JBL) stock was 258.56 USD (−4.84% on the day), with market capitalisation 26.6 bn USD, P/E 26.5 on diluted EPS of 9.75 USD over the last 12 months, dividend yield 0.12%, beta 1.62, 52-week range 192.49–385.63 USD. Latest reported quarter (Q4 2026): revenue of 10.6 bn USD (+28.6% YoY), net income of 398.0 m USD (+82.6% YoY), diluted EPS 3.75 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 36.2
- weak (30–45)
- Bollinger (20, 2)
- 253.82 – 314.50
- in the lower half of the band · %B 0.08 · band width 21.4%
- SMA 50 / 200
- 296.95 / 308.00
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -9.25 / -7.89
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −14.1% | −1.1% | −13.0 pp | — |
| 3 months | −23.6% | −0.5% | −23.2 pp | — |
| 6 months | −30.6% | +4.4% | −35.0 pp | — |
| Year to date | +13.4% | +12.3% | +1.1 pp | — |
| 1 year | +23.6% | +13.5% | +10.0 pp | −7.9% |
| 3 years | +101.4% | +76.4% | +25.0 pp | +102.9% |
| 5 years | +296.4% | +63.7% | +232.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q4 2026 · 31 Aug 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7.0 bn | 6.7 bn | 7.8 bn | 8.3 bn | 8.3 bn | 8.3 bn | 8.8 bn | 10.6 bn |
| Cost of revenue | 6.4 bn | 6.2 bn | 7.1 bn | 7.5 bn | 7.6 bn | 7.5 bn | 7.9 bn | 9.6 bn |
| Gross profit | 606.0 m | 576.0 m | 681.0 m | 783.0 m | 742.0 m | 746.0 m | 828.0 m | 1.0 bn |
| Research & development | 8.0 m | 7.0 m | 7.0 m | 4.0 m | 7.0 m | 7.0 m | 9.0 m | 7.0 m |
| SG&A | 305.0 m | 256.0 m | 274.0 m | 180.0 m | 344.0 m | 329.0 m | 340.0 m | 209.0 m |
| Operating income | 197.0 m | 245.0 m | 403.0 m | 337.0 m | 283.0 m | 374.0 m | 445.0 m | 602.0 m |
| Depreciation & amortisation | 182.0 m | 191.0 m ≈ | 249.0 m ≈ | 52.0 m | 267.0 m | 182.0 m ≈ | 196.0 m ≈ | 36.0 m |
| Pre-tax income | 139.0 m | 184.0 m | 290.0 m | 279.0 m | 220.0 m | 300.0 m | 366.0 m | 522.0 m |
| Income tax | 39.0 m | 67.0 m | 68.0 m | 61.0 m | 74.0 m | 78.0 m | 91.0 m | 125.0 m |
| Net income | 100.0 m | 117.0 m | 222.0 m | 218.0 m | 146.0 m | 223.0 m | 275.0 m | 398.0 m |
| Diluted EPS | 0.88 | 1.06 | 2.03 | 2.00 ≈ | 1.35 | 2.08 | 2.59 | 3.75 ≈ |
| Operating cash flow | 312.0 m | 334.0 m ≈ | 406.0 m ≈ | 588.0 m | 323.0 m | 411.0 m ≈ | 535.0 m ≈ | 733.0 m |
| Capex | 97.0 m | 116.0 m ≈ | 86.0 m ≈ | 169.0 m | 95.0 m | 103.0 m ≈ | 184.0 m ≈ | 246.0 m |
| Dividends paid | 10.0 m | 9.0 m ≈ | 9.0 m ≈ | 8.0 m | 10.0 m | 8.0 m ≈ | 9.0 m ≈ | 8.0 m |
| Share repurchases | 232.0 m | 404.0 m ≈ | 339.0 m ≈ | 25.0 m | 300.0 m | 300.0 m ≈ | 291.0 m ≈ | 169.0 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 51 percentile of its own 41-quarter history (min 8.7, median 25.8, max 127.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 25.3 bn | 27.3 bn | 29.3 bn | 33.5 bn | 34.7 bn | 28.9 bn | 29.8 bn | 36.0 bn |
| Revenue YoY | +14.4% | +7.8% | +7.4% | +14.3% | +3.7% | −16.8% | +3.2% | +20.6% |
| Net income | 287.0 m | 54.0 m | 696.0 m | 996.0 m | 818.0 m | 1.4 bn | 657.0 m | 1.0 bn |
| Net income YoY | +232.4% | −81.2% | +1,188.9% | +43.1% | −17.9% | +69.7% | −52.7% | +58.6% |
| Diluted EPS | 1.81 | 0.35 | 4.58 | 6.90 | 6.02 | 11.17 | 5.92 | 9.75 |
| Diluted EPS YoY | +269.4% | −80.7% | +1,208.6% | +50.7% | −12.8% | +85.5% | −47.0% | +64.7% |
| net % | 1.1% | 0.2% | 2.4% | 3.0% | 2.4% | 4.8% | 2.2% | 2.9% |
| Free cash flow | 188.0 m | 274.0 m | 274.0 m | 266.0 m | 704.0 m | 932.0 m | 1.2 bn | 1.4 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 Aug 2026
- Cash
- 1.7 bn USD
- Financial debt
- 3.4 bn USD
- Net debt
- 1.6 bn USD
- Equity
- 1.6 bn USD
- Total assets
- 27.4 bn USD
- Debt / equity
- 2.09x
- Current ratio
- 0.99x
- ROE
- 66.5%
- ROA
- 4.5%
- FCF margin
- 3.8%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 29.3 bn | 33.5 bn | 34.7 bn | 28.9 bn | 29.8 bn | 36.0 bn | SEC (XBRL)· 23 Oct 2026verified |
| Cost of revenue | 26.9 bn | 30.8 bn | 31.8 bn | 26.2 bn | 27.2 bn | 32.6 bn | SEC (XBRL)· 23 Oct 2026verified |
| Gross profit | 2.4 bn | 2.6 bn | 2.9 bn | 2.7 bn | 2.6 bn | 3.3 bn | SEC (XBRL)· 23 Oct 2026verified |
| Research & development | 34.0 m | 33.0 m | 34.0 m | 39.0 m | 26.0 m | 30.0 m | SEC (XBRL)· 23 Oct 2026verified |
| SG&A | 1.2 bn | 1.2 bn | 1.2 bn | 1.1 bn | 1.0 bn | 1.2 bn | SEC (XBRL)· 23 Oct 2026verified |
| Operating income | 1.1 bn | 1.4 bn | 1.5 bn | 2.0 bn | 1.2 bn | 1.7 bn | SEC (XBRL)· 23 Oct 2026verified |
| Depreciation & amortisation | 876.0 m | 925.0 m | 924.0 m | 696.0 m | 674.0 m | 681.0 m | SEC (XBRL)· 23 Oct 2026verified |
| EBITDA | 1.9 bn ≈ | 2.3 bn ≈ | 2.5 bn ≈ | 2.7 bn ≈ | 1.9 bn ≈ | 2.4 bn ≈ | SEC (XBRL)· 23 Oct 2026derived |
| Interest expense | 130.0 m | 151.0 m | — | — | — | — | SEC (XBRL)· 25 Oct 2022verified |
| Pre-tax income | 944.0 m | 1.2 bn | 1.3 bn | 1.8 bn | 892.0 m | 1.4 bn | SEC (XBRL)· 23 Oct 2026verified |
| Income tax | 246.0 m | 235.0 m | 444.0 m | 363.0 m | 235.0 m | 368.0 m | SEC (XBRL)· 23 Oct 2026verified |
| Net income | 696.0 m | 996.0 m | 818.0 m | 1.4 bn | 657.0 m | 1.0 bn | SEC (XBRL)· 23 Oct 2026verified |
| Diluted EPS | 4.58 | 6.90 | 6.02 | 11.17 | 5.92 | 9.75 | SEC (XBRL)· 23 Oct 2026verified |
| Weighted average diluted shares | 152.1 m | 144.4 m | 135.9 m | 124.3 m | 110.9 m | 106.9 m | SEC (XBRL)· 23 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.6 bn | 1.5 bn | 1.8 bn | 2.2 bn | 1.9 bn | 1.7 bn | SEC (XBRL)· 23 Oct 2026verified |
| Receivables | 3.1 bn | 4.0 bn | 3.6 bn | — | — | — | SEC (XBRL)· 20 Oct 2023verified |
| Inventories | 4.4 bn | 6.1 bn | 5.2 bn | 4.3 bn | 4.7 bn | 7.4 bn | SEC (XBRL)· 23 Oct 2026verified |
| Current assets | 10.9 bn | 13.9 bn | 14.7 bn | 12.8 bn | 13.7 bn | 21.5 bn | SEC (XBRL)· 23 Oct 2026verified |
| Goodwill | 715.0 m | 704.0 m | 621.0 m | 661.0 m | 841.0 m | 1.2 bn | SEC (XBRL)· 23 Oct 2026verified |
| Intangibles (excl. goodwill) | 182.0 m | 158.0 m | 142.0 m | 143.0 m | 273.0 m | 603.0 m | SEC (XBRL)· 23 Oct 2026verified |
| Total assets | 16.7 bn | 19.7 bn | 19.4 bn | 17.4 bn | 18.5 bn | 27.4 bn | SEC (XBRL)· 23 Oct 2026verified |
| Accounts payable | 6.8 bn | 8.0 bn | 5.7 bn | 6.2 bn | 7.9 bn | 14.4 bn | SEC (XBRL)· 23 Oct 2026verified |
| Short-term debt | 0 | 300.0 m | 0 | 0 | 499.0 m | 499.0 m | SEC (XBRL)· 23 Oct 2026verified |
| Long-term debt | 2.9 bn | 2.6 bn | 2.9 bn | 2.9 bn | 2.4 bn | 2.9 bn | SEC (XBRL)· 23 Oct 2026verified |
| Current liabilities | 10.7 bn | 13.7 bn | 12.7 bn | 11.8 bn | 13.7 bn | 21.7 bn | SEC (XBRL)· 23 Oct 2026verified |
| Total liabilities | 14.5 bn | 17.3 bn | 16.6 bn | 15.6 bn | 17.0 bn | 25.8 bn | SEC (XBRL)· 23 Oct 2026verified |
| Equity | 2.1 bn | 2.5 bn | 2.9 bn | 1.7 bn | 1.5 bn | 1.6 bn | SEC (XBRL)· 23 Oct 2026verified |
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.4 bn | 1.7 bn | 1.7 bn | 1.7 bn | 1.6 bn | 2.0 bn | SEC (XBRL)· 23 Oct 2026verified |
| Capex | 1.2 bn | 1.4 bn | 1.0 bn | 784.0 m | 468.0 m | 628.0 m | SEC (XBRL)· 23 Oct 2026verified |
| Free cash flow | 274.0 m ≈ | 266.0 m ≈ | 704.0 m ≈ | 932.0 m ≈ | 1.2 bn ≈ | 1.4 bn ≈ | SEC (XBRL)· 23 Oct 2026derived |
| Investing cash flow | -851.0 m | -858.0 m | -723.0 m | 1.4 bn | -714.0 m | -1.3 bn | SEC (XBRL)· 23 Oct 2026verified |
| Financing cash flow | -413.0 m | -888.0 m | -680.0 m | -2.7 bn | -1.2 bn | -866.0 m | SEC (XBRL)· 23 Oct 2026verified |
| Dividends paid | 50.0 m | 48.0 m | 45.0 m | 42.0 m | 36.0 m | 35.0 m | SEC (XBRL)· 23 Oct 2026verified |
| Share repurchases | 428.0 m | 696.0 m | 487.0 m | 2.5 bn | 1.0 bn | 1.1 bn | SEC (XBRL)· 23 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 44 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 26.6 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation67
- Balance sheet44
- Quality21
- Growth30
- Returns100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 157.39 – 326.40 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/Sales157.39 – 308.79 (Mid 224.50)6 companies used · median multiple 0.7x · quartiles 0.5x – 0.9xBHE, CLS, FLEX, KE, KTCC, SANM
- Peers: EV/EBITDA220.68 – 326.40 (Mid 287.06)4 companies used · median multiple 13.1x · quartiles 10.2x – 14.8xBHE, CLS, KE, SANM
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 44/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 9.2% | 0 (on a fixed band) | 11% |
| EBIT margin · Quality | 4.7% | 55 (vs peers) | 9% |
| FCF margin · Quality | 3.8% | 15 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | 1.2% | 5 (on a fixed band) | 17% |
| Revenue growth (YoY) · Growth | 20.6% | 82 (vs peers) | 9% |
| Net debt / EBITDA · Balance sheet | 0.7x | 77 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 1.0x | 11 (on a fixed band) | 6% |
| EV/Sales · Valuation | 0.8x | 43 (vs peers) | 17% |
| FCF yield · Valuation | 5.2% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 4.1% | 100 (on a fixed band) | 4% |
Score groups
- Balance sheet44/100 · 2/2 factors with a value
- Growth30/100 · 2/2 factors with a value
- Quality21/100 · 3/3 factors with a value
- Returns100/100 · 1/1 factors with a value
- Valuation67/100 · 2/2 factors with a value
Memo
JABIL INC (JBL). Latest full fiscal year: 2026; data up to 2026-08-31.
Figures computed from the financial statements: revenue 36.0 bn USD in 2026; YoY growth 20.6%; net margin 2.9%; ROE 66.7%; net debt/EBITDA 0.7x.
The estimated value range is 189.04–317.60 USD per share (median of 2 methods, agreement: same basis (multiples on one peer group, not independent confirmations)); assumptions are illustrative. Against the central value of 255.78 USD, the price of 258.56 USD leaves a potential of -1.1% (value / price − 1) and a margin of safety of -1.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 44/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue growth (YoY): 20.6%
- Net debt / EBITDA: 0.7x
- FCF yield: 5.2%
- Shareholder yield (distributions): 4.1%
What contradicts it
- Gross margin: 9.2%
- FCF margin: 3.8%
- Revenue CAGR 3Y: 1.2%
- Current ratio: 1.0x
Versus the vertical median
Printed Circuit Boards (SIC 3672) · same industry (4-digit SIC) · compared with 11 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| CLSCelestica Inc. | 29.8 bn | 22.4 | 30.2% | 6.8% | +28.5% | −31% / +777% |
| FLEXFlex Ltd. | 28.5 bn | 27.9 | 19.1% | 3.4% | +8.1% | +31% / +303% |
| JBLJabil Inc | 26.6 bn | 26.5 | 66.7% | 2.9% | +20.6% | +24% / +101% |
| TTMITtm Technologies, Inc. | 7.7 bn | 29.3 | 14.3% | 7.0% | +19.0% | +5% / +389% |
| SANMSanmina Corporation | 7.7 bn | 25.7 | 11.8% | 2.4% | +7.4% | −8% / +187% |
| PLXSPlexus Corp. | 5.5 bn | 30.5 | 12.6% | 4.6% | +1.8% | +45% / +103% |
| BHEBenchmark Electronics, Inc. | 2.3 bn | 42.2 | 5.0% | 1.9% | +0.1% | +45% / +162% |
| CTSCts Corporation | 1.8 bn | 24.4 | 13.0% | 12.9% | +5.2% | +46% / +60% |
| KEKimball Electronics, Inc. | 619.8 m | 22.9 | 4.8% | 2.0% | −3.7% | −11% / +5% |
| NNDMNano Dimension Ltd. | 278.3 m | — | -28.7% | -135.2% | +77.3% | −25% / −43% |
| ELTKEltek Ltd. | 42.0 m | 52.1 | 1.9% | 1.6% | +11.3% | −27% / −49% |
| KTCCKey Tronic Corp | 16.2 m | — | -51.3% | -12.4% | −17.4% | −44% / −64% |
1- and 3-year price returns: for JBL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 153.34 Total return -41% · Per year -41% | 271.53 Total return 5% · Per year 5% | 409.62 Total return 59% · Per year 59% |
| 3 years | 139.08 Total return -46% · Per year -19% | 278.03 Total return 8% · Per year 3% | 461.89 Total return 79% · Per year 21% |
| 5 years | 126.14 Total return -51% · Per year -13% | 284.68 Total return 11% · Per year 2% | 520.82 Total return 102% · Per year 15% |
- Exit P/E± 69.51
- Net margin± 48.65
- Annual revenue growth± 41.25
- Annual dilution± 4.09
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Jabil Inc. (NYSE: JBL) is a global provider of engineering, supply chain and manufacturing solutions, which reported net revenue of $36.0 billion for the fiscal year ended August 31, 2026 1. The company grew revenue 21% in fiscal 2026 and expects fiscal 2027 revenue of $44.5 billion, up 24% 2.
SWOT
Strengths
- Global scale and a broad network of sites allow production in the locations best suited to each customer.
- An integrated service model from design through delivery deepens customer ties and lowers their costs.
- Highly automated continuous flow lines support operational efficiency and capacity management.
Weaknesses
- Dependence on a small number of large customers makes revenue sensitive to the loss or reduction of any one of them.
- High fixed costs can compress margins when demand falls, and customers can change schedules without long-term commitments.
- Working capital needs are significant, and delayed customer payments can weigh on cash flow.
Opportunities
- Demand for AI infrastructure and data centers could sustain growth and capacity investment.
- Expansion in automation, robotics, defense and energy could diversify the portfolio.
- Customers preferring production near their markets could generate new contracts for local capacity.
Threats
- Rising component prices and memory and semiconductor shortages could compress margins.
- Geopolitical tensions and trade policy could change costs and production locations.
- Larger competitors with greater resources or vertical capabilities could exert pricing pressure.
Risks
- Customer concentrationhigh
A small number of customers account for a major part of revenue, and losing one of them could significantly affect results.
- Order volatilityhigh
Customers do not commit to long-term production schedules and may cancel, change or delay orders, which can lead to excess inventory.
- Component cost and availabilitymedium
Price increases and shortages, including of memory components, could affect margins if they cannot be passed on to customers.
- Geopolitical and trade risksmedium
Regional conflicts and tariff changes could disrupt supply chains and international operations.
- Emerging customerslow
Relationships with emerging companies carry higher credit risk and extended payment terms, which can affect financial results.
Investment thesis
What would need to be true (bull case)
- If demand for AI infrastructure holds, revenue and margin growth could be sustained by new capacity and existing customer commitments.
- Diversification into regulated industries, defense and automation could reduce dependence on any single sector or customer.
- Strong adjusted free cash flow generation in fiscal 2026 could provide flexibility for investment and capital returns to shareholders.
What would break the thesis
- Concentration on a few large customers means that the reduction of one major order could have a considerable effect on results.
- Modest industry margins and price pressure from larger competitors could limit profitability growth.
- Working capital costs and delayed customer payments could weigh on cash flow, especially during rapid growth.
What to watch
- First quarter fiscal 2027 results against revenue and earnings guidanceQ1 2027
- Delivery against the annual revenue guidance and core operating margin outlook2027
- Effect of tariffs, refunds and component costs on margins2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Jabil offers integrated design, production, assembly and product management services across the full product lifecycle, from innovation and planning to delivery and post-production 1. Customers are served through dedicated business units combining highly automated continuous flow manufacturing with electronic design and design for manufacturability 1. The company operates facilities in China, Malaysia, Mexico and the United States and more than 100 sites worldwide, with 60 years of experience 12.
The business model relies on close relationships with a relatively small number of large customers, with each business unit often serving a single customer on dedicated production lines 1. Jabil says it aims to move up the value chain, taking on more of its customers' engineering and manufacturing complexity while keeping an asset-light model, according to the results release 2.
Reporting segments were three until September 1, 2026, when Connected Living and Digital Commerce was renamed Intelligent Devices and Robotics, with no change to the segment composition 1.
Segments
Regulated Industries
The Regulated Industries segment serves regulated markets including automotive and transportation, healthcare and packaging, and renewable and energy infrastructure 1. The company points to solid growth in these areas for fiscal 2027, alongside defense, aerospace and warehouse automation 2.
Intelligent Devices and Robotics
Formerly Connected Living and Digital Commerce, renamed in September 2026, this segment focuses on digitalization and automation, including warehouse automation and robotics, with growing emphasis on complex engineered solutions 1.
Market context
Demand for AI infrastructure and data center products was the main driver of growth, and the fiscal 2027 outlook includes committed business supporting newly added capacity 2.
Trends
- Demand for AI infrastructuretailwind
Accelerating demand for artificial intelligence infrastructure and data centers supports revenue and motivates new capacity investment 12.
- Production relocation and trade policymixed
Customers increasingly prefer production closer to their markets, and changes in US tariff policy, including IEEPA refund claims, could affect costs and margins, although management expects no material impact on results 1.
- Component prices and availabilityheadwind
Supplier price increases and shortages, especially of memory and semiconductor components, could reduce margins if they cannot be passed on to customers 1.
- Portfolio diversificationtailwind
Expansion into sectors such as defense, aerospace and healthcare could reduce reliance on a few large customers and a single industry 12.
Competitive position
The company competes with numerous domestic and foreign electronics manufacturing services providers, diversified manufacturing service providers and design providers, as well as with customers' own in-house manufacturing 1. Many competitors have greater financial resources, lower cost structures or more vertically integrated capabilities 1.
Differentiation rests on advanced design, automation technologies and the ability to manage global supply chains, but price pressure remains high 1.
- Flex Ltd.FLEX
Electronics manufacturing services provider with global operations, cited in the sector as a direct competitor; listed in the United States.
- Celestica Inc.
Electronics manufacturing services provider in the general competitive category, with presence in several regions.
- Sanmina CorporationSANM
Electronics manufacturing services and solutions provider for regulated industries, competing in the same general category.
- Customers' own in-house manufacturing
Customers weighing internal production against outsourcing represent a form of competition the company explicitly names.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Annual report23 Oct 2026
- Current report30 Sept 2026Results of operations · Financial statements and exhibits
- Quarterly report30 Jun 2026
- Current report17 Jun 2026Results of operations · Financial statements and exhibits
- Current report22 Apr 2026Other events
- Quarterly report08 Apr 2026
- Current report18 Mar 2026Results of operations · Financial statements and exhibits
- Current report28 Jan 2026Departure or appointment of officers · Financial statements and exhibits
- Current report27 Jan 2026Shareholder vote
- Current report23 Jan 2026Material agreement · Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-08-31 · SEC / Jabil Inc. · 23 Oct 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Jabil Inc. · 30 Sept 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.