Jabil Circuit Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Whoever buys today is betting that the AI boom runs long, the big customer stays loyal and the thin-margin volume turns into real margin over the years — and pays roughly 45 times trailing earnings and 29 times book for it. Whoever waits may miss the next AI wave but can check every quarterly report (10-Q) for whether the decisive things happen: a rising gross margin, a shrinking customer concentration and profit growth that keeps pace with revenue growth. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Jabil is an excellently run contract manufacturer that has cleverly positioned itself at the front of the AI build-out: the AI segment grows at 30 to 40 percent and now makes up nearly half of revenue. But Jabil remains a manufacturer — of every AI rack a single-digit margin is left, the hot growth even dilutes the gross margin, a single customer accounts for 16 percent of revenue, and the equity cushion is wafer-thin. At 45 times earnings the market is paying, for the shovel, the price of the gold vein. Not investment advice.
AI growth & demand
The Intelligent Infrastructure segment grew 34 percent in fiscal year 2025 and 41 percent in the first nine months of fiscal year 2026 (cloud/data center: +31 percent); its revenue share rose from 32 to 47 percent, the tied-up assets from $3.7 to $8.8 billion — a real, documented AI boom (10-K FY 2025, 10-Q as of 05/31/2026).
Margin & value-add
Gross margin around 8.9 percent, operating margin around 5 percent, net margin around 2 percent — and per the annual report it was precisely the product mix in the AI segment that lowered the 2025 gross margin. The growth is high-volume but thin-margin: Jabil carries the materials, the factory and the people, the margin stays with the customer.
Customer concentration
A single customer ("Customer A") accounted for 16 percent of group revenue in fiscal year 2025 — reported primarily in the AI segment; the five largest for 36 percent (10-K FY 2025, Note 14). The hottest part of the growth hangs on a few big deals.
Balance sheet & capital policy
Only $1.3 billion of equity against $23.8 billion in total assets (05/31/2026); the 66 percent return on equity is mostly a denominator effect of the thin cushion. Buybacks (113.7 → 104.8 million shares) are shareholder-friendly but work with leverage (net debt roughly 3x equity).
Valuation
A trailing price-to-earnings ratio around 45, price-to-book around 29 (fundamental data, data as of July 17, 2026), market value roughly $38 billion after a rough tripling since early 2025 — for a manufacturer with a single-digit margin, a growth-star price that takes a lot of future in advance.
Worth Noting
JBL reached our research list via the "Joshua" growth scanner and twelve further trend/quality filters in our in-house stock scanner (data as of July 17, 2026); the Joshua filter classifies the stock as a growth name — what the market currently pays, not what the business earns.
Scanner metrics (P/E, P/B, ROE, EBIT margin) are computed from trailing twelve-month figures; the Mobility one-time gain (FY 2024) has by now rolled out of the trailing numbers, while the thin equity base and the single-digit margins are baked in.
Valuation figures are dated to July 17, 2026 (market value on the order of $38 billion); analyses are evergreen, daily prices are not a buy argument. Jabil's fiscal year ends August 31 — all quarterly references carry that fiscal-year offset.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at JBL since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 192.50 $ to 385.60 $ · Last price: 295.90 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/17/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Electronic Components
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Jabil Circuit Inc JBL | 31.6 | 35.3 | 16.7 | 9.2 | 5.2 | 3.2 | 39.5 |
| Corning Incorporated GLW | 127.2 | 68.9 | 35.8 | 36.4 | 15.7 | 19.1 | 93.9 |
| Amphenol Corporation APH | 96.5 | 22.3 | 23.8 | 39.0 | 27.3 | 51.7 | 33.1 |
| TE Connectivity Ltd TEL | 59.8 | 20.2 | 13.2 | 36.1 | 20.8 | 7.9 | -3.5 |
| Flex Ltd FLEX | 41.0 | 41.3 | 20.9 | 9.5 | 5.7 | 8.1 | 93.1 |
| Fabrinet FN | 14.4 | 30.6 | 20.6 | 12.0 | 9.9 | 18.6 | 6.3 |
| TTM Technologies Inc TTMI | 11.9 | 93.8 | 30.2 | 21.2 | 8.6 | 19.0 | 134.1 |
| Vicor Corporation VICR | 10.7 | 69.1 | 73.4 | 56.6 | 15.0 | 13.6 | 314.5 |
| Littelfuse Inc LFUS | 10.6 | – | 41.1 | 39.3 | 17.3 | 8.9 | 55.7 |
| Median of companies shown | 31.6 | 38.3 | 23.8 | 36.1 | 15.0 | 13.6 | 55.7 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 18,353 | 523 | 254 | 1.32 | 916 | 2,438 | 10,323 |
| 2017 | 19,063 | 410 | 129 | 0.69 | 1,257 | 2,354 | 11,096 |
| 2018 | 22,095 | 542 | 86 | 0.49 | 934 | 1,950 | 12,046 |
| 2019 | 25,282 | 701 | 287 | 1.81 | 1,193 | 1,887 | 12,970 |
| 2020 | 27,266 | 500 | 54 | 0.35 | 1,257 | 1,811 | 14,397 |
| 2021 | 29,285 | 1,055 | 696 | 4.58 | 1,433 | 2,136 | 16,654 |
| 2022 | 33,478 | 1,393 | 996 | 6.90 | 1,651 | 2,451 | 19,717 |
| 2023 | 34,702 | 1,537 | 818 | 6.02 | 1,734 | 2,866 | 19,424 |
| 2024 | 28,883 | 2,013 | 1,388 | 11.17 | 1,716 | 1,737 | 17,351 |
| 2025 | 29,802 | 1,182 | 657 | 5.92 | 1,640 | 1,513 | 18,543 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2025: Q1 | 1.05 | -85.60 | 6,728 | -0.60 | 1.70 | 334 | 218 |
| 2025: Q2 | 1.99 | 87.80 | 7,828 | 15.70 | 2.80 | 406 | 320 |
| 2025: Q3 | 2.00 | 68.80 | 8,252 | 18.50 | 2.60 | 588 | 419 |
| 2025: Q4 | 1.35 | 53.70 | 8,305 | 18.70 | 1.80 | 323 | 228 |
| 2026: Q1 | 2.07 | 96.80 | 8,282 | 23.10 | 2.70 | 411 | 506 |
| 2026: Q2 | 2.58 | 29.70 | 8,751 | 11.80 | 3.10 | 535 | 351 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 14 of our scanner strategies — each hit links to the scanner.
Backtested Scanners
Growth
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
- 21-EMA Trend
- Above the 50- & 200-SMA
- Gary Antonacci: Dual Momentum (Stock Adaptation)
- Mark Minervini: Trend Criteria — 1 Month
- Mike Webster: Swing Trading List
- Richard Moglen: Top Performers 3/6 Month
- Stan Weinstein: Stage 2
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 08/31/2027 | 16.84 | 15.95 – 18.23 | 42,748 | 31.9% | 10 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 8.4% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $1.50B |
|---|---|
| Market cap | $31.58B |
| Free cash flow in year ten | $3.36B |
| Terminal value as a share of market value | 56.1% |
For comparison: over the past five years free cash flow grew by 33.7% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Jabil setzt KI laut Geschäftsbericht 10-K für das Geschäftsjahr 2025 operativ im eigenen Geschäft ein: KI-gestützte Einkaufs- und Steuerungsplattformen („procurement intelligence platforms and AI-driven orchestration systems“) in der eigenen Lieferkette sowie maschinelles Lernen und KI als Bestandteil der differenzierten Fertigungsdienstleistungen. Eigene KI-Umsätze weist der Konzern nicht aus. Die starke KI-Nachfrage im Segment Intelligent Infrastructure ist Endmarkt-Belieferung (Auftragsfertigung von KI-Infrastruktur-Hardware für Kunden) und begründet keine „verkauft“-Einstufung — Endmarkt-Belieferung allein ist kein eigener KI-Einsatz. Vorrang-Prüfung: keine eigenen KI-Produkte als Umsatzquelle (kein „verkauft“); Risk Factors nennen KI nicht als konkrete Bedrohung des eigenen Geschäftsmodells (kein „bedroht“); dokumentierter operativer Eigen-Einsatz → „nutzt“.
View the full file — quotes, sources, reviewed filings
„These capabilities include procurement intelligence platforms and AI-driven orchestration systems that deliver real-time data insights to support cost management, inventory optimization, and risk mitigation across global supply networks."
Zu diesen Fähigkeiten gehören Einkaufs-Intelligenz-Plattformen und KI-gestützte Orchestrierungssysteme, die Echtzeit-Dateneinblicke liefern, um Kostenmanagement, Bestandsoptimierung und Risikominderung über globale Liefernetzwerke hinweg zu unterstützen.
10-K · 2025-10-17 · View SEC filing
„If we are unable to offer technologically advanced, cost effective, quick response manufacturing services that are differentiated from our competition (including utilization of machine learning and artificial intelligence) and adapt those services as our customers’ requirements change, demand for our services will decline."
Wenn wir nicht in der Lage sind, technologisch fortschrittliche, kosteneffiziente und schnell reagierende Fertigungsdienstleistungen anzubieten, die sich vom Wettbewerb abheben (einschließlich des Einsatzes von maschinellem Lernen und künstlicher Intelligenz), und diese Dienstleistungen an sich ändernde Kundenanforderungen anzupassen, wird die Nachfrage nach unseren Dienstleistungen zurückgehen.
10-K · 2025-10-17 · View SEC filing
Rated on July 17, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -3.8%
- More than 10% revenue growth is expected for the coming year 21.3%
- Share count grows by less than 3% a year -8.4%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 7.1%
- Gross margin at 40% or higher and without meaningful erosion 8.9%
- Goodwill from acquisitions does not grow faster than revenue 4.5%
- Net debt below twice EBITDA 0.8 x EBITDA
- Operating cash flow covers the profits of the last three years 2,227 m
- Return on capital at 15% or higher, or up versus two years ago 24.5%
- Insiders hold at least 10% or are net buyers 1.2%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
10/10 Quality stockThe AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 5.5%
- Exp. sales growth 3Y > 5% 43.4%
- EBIT growth 10Y > 5% 9.5%
- Exp. EBIT growth 3Y > 5% 184.2%
- Net debt < 4x EBIT 1.2x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 41.3%
- Return on equity > 15% 164.7%
- ROCE > 15% 24.5%
- Expected return > 10% 194.7%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Jul 18, 2026 | Renno Rafael | SVP, Global Business Units | Other | 272 | 301.01 | 81,875 |
| Jul 17, 2026 | Tyagarajan N. V. | Director | Buy | 500 | 299.63 | 149,815 |
| Jul 15, 2026 | Schick Gary K. | SVP, CHRO | Sell | 232 | 320.59 | 74,377 |
| Jul 15, 2026 | Schick Gary K. | SVP, CHRO | Sell | 209 | 317.88 | 66,437 |
| Jul 15, 2026 | Schick Gary K. | SVP, CHRO | Sell | 135 | 319.11 | 43,080 |
| Jul 15, 2026 | Schick Gary K. | SVP, CHRO | Sell | 115 | 315.05 | 36,231 |
| Jul 15, 2026 | Schick Gary K. | SVP, CHRO | Sell | 89 | 316.45 | 28,164 |
| Jul 15, 2026 | Schick Gary K. | SVP, CHRO | Sell | 76 | 325.81 | 24,762 |
| Jul 15, 2026 | Schick Gary K. | SVP, CHRO | Sell | 66 | 322.06 | 21,256 |
| Jul 15, 2026 | Schick Gary K. | SVP, CHRO | Sell | 2 | 330.00 | 660 |
The company
About the Company
Jabil Inc. bietet weltweit Engineering-, Fertigungs- und Lieferkettenlösungen an.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 135,000
- Headquarters
- Saint Petersburg, FL
- Address
- 10800 Roosevelt Boulevard North, 33716 Saint Petersburg, United States
- Phone
- 727 577 9749
- Website
- jabil.com
- IPO Date
- 04/29/1993
- ISIN
- US4663131039
- Stock Split
- 2:1 on 03/31/2000
- Stock Split
- 2:1 on 02/18/1999
- Stock Split
- 2:1 on 07/23/1997
Management
| Name | Title | Birth Year |
|---|---|---|
| Michael Dastoor | CEO & Director | 1965 |
| Gregory B. Hebard | Chief Financial Officer | 1969 |
| Andrew D. Priestley | Executive VP & Chief Operations Officer | 1972 |
| Steven D. Borges | Executive Vice President of Global Business Units | 1968 |
| Ed Bailey | CTO & SVP of Intelligent Infrastructure | – |
| May Yee Yap | Senior VP & Chief Information Officer | 1970 |
| Adam E. Berry | Senior Vice President of Investor Relations & Corporate Affairs | 1978 |
| Kristine Melachrino | Executive VP & General Counsel | 1978 |
| Gary K. Schick | Senior VP & Chief Human Resources Officer | 1970 |
| Francis G. McKay | Senior VP & Chief Supply Chain Officer | 1970 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.