Jabil (JBL) AI Stock Analysis

• Market Cap: $28.02B
• Dividend Yield: 0.14%
• Average Volume (3M): 1.14M
• Price to Earnings (P/E): 31.6
• Beta (1Y): 1.53
• Revenue Growth: 13.18%
• EPS Growth: -38.37%
• Country: US
• Employees: 138,000
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 2.69
• Shares Outstanding: 105,595,270
• 10 Day Avg. Volume: 1,253,885
• 30 Day Avg. Volume: 1,140,246
• PEG Ratio: -0.72
• Price to Book (P/B): 14.82
• Price to Sales (P/S): 0.75
• P/FCF Ratio: 19.14
• Enterprise Value/Market Cap: 1.10
• Enterprise Value/Revenue: 0.95
• Enterprise Value/Gross Profit: 10.47
• Enterprise Value/Ebitda: 15.73
• 1Y Price Target: $290.63
• Price Target Upside: 9.54% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): 12.24
• Revenue Forecast (FY): $33.85B

• Rating: 67 Neutral
• Price Target: $285.00 ▲(7.42% Upside)
• Action: Downgraded Date: 03/18/26
• Date: Action: Downgraded 03/18/26

The score is driven primarily by solid fundamentals supported by strong free cash flow and improving growth, plus a constructive price trend. These positives are partially offset by balance-sheet leverage and thin/variable margins, while valuation (high P/E and low dividend yield) limits upside in the score despite the upbeat guidance and AI-driven growth narrative from the latest earnings call.

Positive Factors

Strong cash generation

Sustained, above-$1B annual free cash flow and recent 24% TTM FCF growth provide durable financial flexibility to service debt, fund capex, and support strategic investments or buybacks. Reliable cash conversion reduces reliance on external financing during industry cycles.

AI and Intelligent Infrastructure tailwinds

Exposure to AI-related demand and scale in Intelligent Infrastructure (large cloud, data center and networking programs) anchors multi-year secular growth. These structural end-markets tend to support higher content per unit and stickier programs, improving long-term revenue mix and strategic positioning.

Management execution & raised guidance

Consistent outperformance and upward guidance demonstrate operational discipline and forecasting credibility. Management's ability to expand guidance while maintaining FCF commitments signals durable execution capacity and supports continued investment in higher-growth customer programs.

Negative Factors

High leverage

Elevated debt-to-equity constrains financial flexibility and raises sensitivity to cash-flow shocks. A thinner equity cushion increases refinancing and covenant risks, limiting the company's ability to pursue large strategic investments or absorb cyclical revenue declines without raising funding costs.

Thin, volatile margins

Low and historically variable margins make earnings and free cash flow sensitive to mix, commodity costs, and program pricing. Limited margin headroom reduces capacity to absorb higher interest or input costs and amplifies profit impact from any customer downcycles or program attrition.

Program concentration & segment cyclicality

Reliance on large OEM programs means customer pruning or program exits can quickly reduce revenue and utilization. Segment-specific declines and a conservative automotive outlook highlight structural exposure to program cycles, increasing revenue and margin volatility over the medium term.

Jabil Business Overview & Revenue Model

Company Description

Jabil Inc. provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA). It also specializes in the three-dimensional mechanical design comprising the analysis of electronic, electro-mechanical, and optical assemblies, as well as offers various industrial design, mechanism development, and tooling management services. In addition, the company provides computer-assisted design services consisting of PCBA design, as well as PCBA design validation and verification services; and other consulting services, such as the generation of a bill of materials, approved vendor list, and assembly equipment configuration for various PCBA designs. Further, it offers product and process validation services, such as product system, product safety, regulatory compliance, and reliability tests, as well as manufacturing test solution development services. Additionally, the company provides systems assembly, test, direct-order fulfillment, and configure-to-order services. It serves 5G, wireless and cloud, digital print and retail, industrial and semi-cap, networking and storage, automotive and transportation, connected devices, healthcare and packaging, and mobility industries. The company was formerly known as Jabil Circuit, Inc. and changed its name to Jabil Inc. in June 2017. Jabil Inc. was founded in 1966 and is headquartered in Saint Petersburg, Florida.

How the Company Makes Money

Jabil primarily makes money by providing contract manufacturing and related supply-chain services to original equipment manufacturers (OEMs) and brand owners. Its core revenue stream is the sale of manufactured products and assemblies produced on behalf of customers under manufacturing services arrangements; these engagements typically include activities such as procurement of components and materials, manufacturing/assembly, testing, and fulfillment, with Jabil earning a margin on the end-to-end service and execution. A significant portion of revenue also comes from value-added services that can be bundled into programs, including design/engineering support (e.g., design for manufacturability and new product introduction), supply chain management (supplier sourcing, planning, inventory management, and logistics), and after-market services (repair, refurbishment, and returns management), which can generate additional service fees and/or higher-margin content depending on scope. Revenue is concentrated in large customer programs, so program wins/ramps, customer demand cycles, pricing and mix, manufacturing efficiency, and component availability can materially affect earnings. Because Jabil often procures materials on behalf of customers, reported revenue can be influenced by pass-through materials/content and changes in commodity/component pricing; profitability depends on execution, utilization, and negotiated program economics. Specific partnership terms, customer-by-customer pricing structures, and segment-level revenue splits are not provided here: null.

Jabil Financial Statement Overview

Summary

Cash generation is a key strength (TTM operating cash flow ~$1.73B; free cash flow ~$1.47B; ~24% TTM FCF growth), and revenue returned to growth (~5% TTM). Offsetting this, profitability is thin (TTM gross margin ~8.9%, net margin ~2.3%) with year-to-year margin volatility, and the balance sheet is a notable risk with high leverage (debt-to-equity ~2.51x) and shrinking equity cushion.

Income Statement

TTM (Trailing-Twelve-Months) revenue rose ~5% from the prior annual period, showing a return to growth after the decline seen in 2024. Profitability is steady but thin for the industry profile: gross margin is ~8.9% and net margin is ~2.3% in TTM. A key weakness is earnings volatility—2024 showed materially higher net margin (~4.8%) and EBIT margin (~6.7%) than both 2025 and TTM, suggesting the business is exposed to mix/cycle and cost pressures.

Balance Sheet

Leverage is the main constraint: TTM debt is ~$4.39B versus equity of ~$1.34B (debt-to-equity ~2.51x), higher than recent annual periods and indicating a more aggressive capital structure. Equity has trended down from 2023–2024 levels, reducing balance-sheet cushion despite a larger asset base. Return on equity is strong in TTM (~51%), but it is partly amplified by the higher leverage, which increases sensitivity if profits soften.

Cash Flow

Cash generation is a clear strength: TTM operating cash flow is ~$1.73B and free cash flow is ~$1.47B, with strong TTM free-cash-flow growth (~24%). Free cash flow remains healthy relative to earnings (about 72% of net income), supporting flexibility for debt service and capital returns. A watch-out is that operating cash flow relative to revenue is modest (~11–15% across periods), so sustaining the current free-cash-flow level depends on continued working-capital discipline and stable demand.

Breakdown	TTM	Aug 2025	Aug 2024	Aug 2023	Aug 2022	Aug 2021
Income Statement
Total Revenue	32.67B	29.80B	28.88B	34.70B	33.48B	29.29B
Gross Profit	2.95B	2.65B	2.68B	2.87B	2.63B	2.36B
EBITDA	1.97B	1.81B	2.62B	2.39B	2.30B	1.94B
Net Income	809.00M	657.00M	1.39B	818.00M	996.00M	696.00M
Balance Sheet
Total Assets	20.63B	18.54B	17.35B	19.42B	19.72B	16.65B
Cash, Cash Equivalents and Short-Term Investments	1.83B	1.93B	2.20B	1.80B	1.48B	1.57B
Total Debt	4.39B	3.37B	3.26B	3.25B	3.41B	3.32B
Total Liabilities	19.28B	17.03B	15.61B	16.56B	17.27B	14.52B
Stockholders Equity	1.34B	1.51B	1.74B	2.87B	2.45B	2.14B
Cash Flow
Free Cash Flow	1.47B	1.17B	932.00M	704.00M	266.00M	274.00M
Operating Cash Flow	1.73B	1.64B	1.72B	1.73B	1.65B	1.43B
Investing Cash Flow	-1.17B	-714.00M	1.35B	-723.00M	-858.00M	-851.00M
Financing Cash Flow	-338.00M	-1.20B	-2.67B	-680.00M	-888.00M	-413.00M

Jabil Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 265.31
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JBL, the sentiment is Positive. The current price of 265.31 is above the 20-day moving average (MA) of 258.91, above the 50-day MA of 251.14, and above the 200-day MA of 222.34, indicating a bullish trend. The MACD of 1.82 indicates Negative momentum. The RSI at 57.19 is Neutral, neither overbought nor oversold. The STOCH value of 91.82 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JBL.

Jabil Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PLXS	74 Outperform	$5.40B	24.74	12.39%	―	1.82%	56.52%
FLEX	72 Outperform	$24.19B	23.76	16.83%	―	0.77%	0.51%
TTMI	68 Neutral	$10.04B	41.17	10.61%	―	17.88%	91.41%
JBL	67 Neutral	$28.02B	31.64	58.99%	0.14%	13.18%	-38.37%
SANM	66 Neutral	$7.11B	42.40	9.86%	―	7.40%	13.79%
BHE	62 Neutral	$2.00B	61.39	2.25%	1.44%	-2.93%	-40.33%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Jabil Corporate Events

Jabil reshapes board leadership with new independent directors

On January 22, 2026, Jabil Inc. expanded its Board of Directors from seven to nine members, appointing former TTM Technologies CEO Thomas T. Edman and former Amazon Web Services marketing chief Raejeanne Skillern as independent directors, with Edman joining the Audit and Cybersecurity Committees and Skillern joining the Audit Committee. On the same date, longtime director Steven Raymund was elevated to Chairman of the Board, director Sujatha Chandrasekaran was named to the Compensation and Cybersecurity Committees, and Executive Chairman Mark T. Mondello concluded his employment and Board service, transitioning into a two-year consulting role providing advisory and strategic services to the company, moves that collectively signal a reconfiguration of Jabil’s governance and strategic oversight as it marks its 60th year and seeks to strengthen capabilities in electronics manufacturing, cloud, and data center markets.

The most recent analyst rating on (JBL) stock is a Buy with a $275.00 price target. To see the full list of analyst forecasts on Jabil stock, see the JBL Stock Forecast page.

Jabil shareholders reshape board composition at annual meeting

At its annual meeting of stockholders held on January 22, 2026, Jabil Inc. reported the election of directors Anousheh Ansari, Sujatha Chandrasekaran, Michael Dastoor, Christopher S. Holland and Steven A. Raymund, while John C. Plant and N.V. “Tiger” Tyagarajan failed to secure a majority of votes, triggering the company’s director resignation policy and prompting conditional resignations that the Nominating and Governance Committee and full board must evaluate within a defined 90-day decision window. Shareholders also ratified Ernst & Young LLP as Jabil’s independent auditor for the fiscal year ending August 31, 2026, approved the company’s executive compensation on an advisory basis, and rejected a shareholder proposal to allow action by written consent, outcomes that collectively reinforced existing governance and compensation structures while raising questions about board composition and investor sentiment toward specific directors.

The most recent analyst rating on (JBL) stock is a Buy with a $275.00 price target. To see the full list of analyst forecasts on Jabil stock, see the JBL Stock Forecast page.

Jabil Completes $1 Billion Senior Notes Debt Offering

On January 23, 2026, Jabil Inc. completed a $1 billion underwritten public debt offering, issuing $500 million of 4.200% Senior Notes due February 1, 2029 and $500 million of 4.750% Senior Notes due February 1, 2033, both unsecured and ranking pari passu with the company’s existing and future senior unsecured indebtedness. The notes, which carry semi-annual interest payments beginning August 1, 2026, include issuer-friendly optional redemption features—initially at a make-whole premium before near-maturity call dates and at par thereafter—as well as a requirement for Jabil to offer to repurchase the notes at 101% upon a change of control repurchase event, and are subject to covenants that restrict certain liens, sale-leasebacks, funded debt at restricted subsidiaries, subsidiary guarantees, and major corporate restructurings, thereby shaping Jabil’s future balance sheet flexibility and providing bondholders with structural protections. The offering was executed under a standard underwriting agreement with a syndicate led by BNP Paribas, Citigroup, Crédit Agricole and SMBC Nikko, utilizing Jabil’s existing shelf registration to efficiently tap the capital markets.

The most recent analyst rating on (JBL) stock is a Buy with a $275.00 price target. To see the full list of analyst forecasts on Jabil stock, see the JBL Stock Forecast page.