One-glance verdict
Overvalued
$167.77 our estimate vs market $277.97
Wall Street consensus: $425.00 (153.3% higher than our fair-value estimate)
66% above our estimate, beyond the bull case
Fundamentals snapshot
Jabil Inc.
JBL · NYQ · Technology · Electronic Components
Current price
$277.97
52-week range
$189.60 - $428.93
Market cap
$29.13B
Balance sheet
Stretched
9.77x Adequate
Net debt $2.28B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 12.7% last year.
- Reward Returns 66.4% on equity, ahead of 83% of its peers.
- Risk Stock trades 58.1% above its 5-year average P/E.
- Risk Insider ownership is only 1.2% (peer median: 1.4%).
What this company does
Jabil Inc.
Jabil is a manufacturing partner for many of the world's biggest brands, helping them design and build their electronic products from start to finish. The company makes money by managing the complex production process, or supply chain (the network of people and activities involved in making and distributing a product), for clients in various industries like healthcare, automotive, and cloud computing. Because its business is spread out, Jabil's success doesn't depend on any single industry, but on the overall demand for a wide range of technology goods.
How the company got here
Jabil began in 1966 at a kitchen table in Detroit, where its founders repaired circuit boards for computer companies. A major turning point came in 1979 with a large contract from General Motors, which shifted the company towards high-volume, automated manufacturing. Over the years, Jabil grew by acquiring other companies and expanding globally, moving beyond simple electronics to become a broad manufacturing and design partner for major brands. The company officially changed its name from Jabil Circuit to Jabil Inc. in 2017 to reflect that its business had grown far beyond its original focus on circuit boards.
What it actually does
You've likely used a product Jabil helped make without even knowing it, as they build parts for many of the world's biggest brands. Think of them as a giant, high-tech workshop that other companies hire to design, build, and manage the creation of their products. This includes everything from the casings for your smartphone and smart home appliances to complex medical devices, parts for electric cars, and the powerful computers that run AI data centers. Jabil handles the entire process, from helping design the product and sourcing the materials to manufacturing the components and managing the supply chain (the complex process of getting parts from suppliers to the factory and the final product to the customer).
Diversified Manufacturing Services (DMS)
This part of the business focuses on more specialized, complex manufacturing for industries with very strict rules and long product lifecycles. Customers in this segment include companies in healthcare, automotive, defense, and energy. For example, Jabil might manufacture medical devices like drug delivery systems, components for electric vehicles, or durable packaging for consumer products. This segment is known for its deep engineering solutions and often involves advanced materials and precision manufacturing, making it a significant and higher-margin (more profitable per dollar of sales) part of Jabil's business.
Electronics Manufacturing Services (EMS)
This is Jabil's more traditional business, centered on producing electronics at a very large scale for various industries. This segment serves customers in areas like 5G and wireless communication, cloud computing, networking, and storage. Essentially, Jabil's factories act as the manufacturing arm for big tech companies, building the core electronic components and systems that power the internet and our connected devices. This is a high-volume business, meaning they produce a large quantity of items quickly and efficiently.
What management is betting on now
Jabil is heavily focused on expanding its role in building the infrastructure for artificial intelligence (AI), such as servers and data center components. The company is also prioritizing growth in regulated industries like healthcare, automotive, and defense, where manufacturing complexity and trust are key. Management is investing in flexible automation, which allows them to adapt factory equipment for different products more easily, improving efficiency. A key part of their strategy is to act as an engineering-led partner for their customers, helping to design products from the start rather than just building them.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$411.00M
FY2025 Q1
$215.00M
FY2025 Q2
$218.00M
FY2025 Q3
$320.00M
FY2025 Q4
$419.00M
FY2026 Q1
$228.00M
FY2026 Q2
$308.00M
FY2026 Q3
$351.00M
Revenue
$8.75B
Net income
$275.00M
Diluted EPS
2.59
Operating cash flow
$535.00M
Free cash flow
$351.00M
Fetching…
Sources
Revenue
$8.28B
Net income
$223.00M
Diluted EPS
2.08
Operating cash flow
$411.00M
Free cash flow
$308.00M
Fetching…
Sources
Revenue
$8.30B
Net income
$146.00M
Diluted EPS
1.35
Operating cash flow
$323.00M
Free cash flow
$228.00M
Fetching…
Sources
Revenue
$8.25B
Net income
$218.00M
Diluted EPS
1.95
Operating cash flow
$588.00M
Free cash flow
$419.00M
Fetching…
Sources
Revenue
$7.83B
Net income
$222.00M
Diluted EPS
2.03
Operating cash flow
$406.00M
Free cash flow
$320.00M
Fetching…
Sources
Revenue
$6.73B
Net income
$117.00M
Diluted EPS
1.06
Operating cash flow
$334.00M
Free cash flow
$218.00M
Fetching…
Sources
Revenue
$6.99B
Net income
$100.00M
Diluted EPS
0.88
Operating cash flow
$312.00M
Free cash flow
$215.00M
Fetching…
Sources
Revenue
$6.96B
Net income
$138.00M
Diluted EPS
1.33
Operating cash flow
$535.00M
Free cash flow
$411.00M
Fetching…
Sources
Is it cheap or expensive?
Fair value $167.77 vs current price $277.97
Wall Street consensus is the average analyst price target: $425.00 (153.3% higher than our fair-value estimate).
Our most-likely fair value is $167.77 a share — about 39.6% below today's price of $277.97, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Stretched
Net debt $2.3B. Interest coverage 9.8x.
Net debt
$2.28B
Interest coverage
9.77x
Jabil Inc.'s profit covers its interest bill about 9.8 times over. which is stronger than most peers shown here.
Stretched
Worse cushion
Baseline
Better cushion
JBL
BASELINE
Jabil Inc.
Total debt $4.02B Interest coverage 9.77x This is the baseline the peer rows are being compared against.
Total debt $5.93B Interest coverage 6.73x -31% vs JBL Carries about 1.5x less debt cushion than JBL.
Total debt $981.20M Interest coverage 20.35x +108% vs JBL Carries about 2.1x more debt cushion than JBL.
Total debt $2.43B Interest coverage 19.60x +101% vs JBL Carries about 2.0x more debt cushion than JBL.
Total debt $306.96M Interest coverage 17.84x +83% vs JBL Carries about 1.8x more debt cushion than JBL.
Total debt $291.82M Interest coverage 5.24x -46% vs JBL Carries about 1.9x less debt cushion than JBL.
What you should know
The case for and against JBL
3 Rewards
2 Risks
Rewards
-
Revenue grew 12.7% last year.
-
Returns 66.4% on equity, ahead of 83% of its peers.
-
Free cash flow was positive in 7/10 years.
Risks
-
Stock trades 58.1% above its 5-year average P/E.
-
Insider ownership is only 1.2% (peer median: 1.4%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
28.51x
Forward P/E
12.54x
P/B
18.06x
P/S
0.81x
EV/EBITDA
12.65x
PEG ratio
0.82x
Profitability
How much profit each dollar creates
Gross margin
9.2%
Operating margin
5.9%
Net margin
2.9%
ROE
66.4%
ROA
5.0%
Health
Liquidity and balance-sheet strength
Debt / equity
2.49x
Current ratio
0.99x
Quick ratio
0.44x
Total debt
$4.02B
Total cash
$1.74B
Growth
How the business has been compounding
Revenue TTM
$33.59B
Revenue 5Y CAGR
0.4%
EPS TTM
9.75
EPS 5Y CAGR
-5.0%
Cash flow
How much cash the business throws off
Operating CF TTM
$1.86B
Free CF TTM
$1.17B
FCF margin
3.5%
Dividend
Shareholder payout
Yield
0.1%
Payout ratio
4.0%
Last ex-div date
2026-08-14