Jabil
ConvictionModerate
Contract design and manufacturing at scale — builds electronic and mechanical products for OEM customers across healthcare, automotive, cloud/data-center, networking, capital equipment, and consumer end-markets. Thin gross margins (~9%) on very high volume; earns via scale, engineering/integration services, supply-chain management, and disciplined capital return (buybacks). Increasingly moving up the value chain into AI systems integration, liquid cooling, and photonics.
Revenue
$29.8BFY2025, Aug-31 year); ~$35B guided FY2026Rev growth
+3.2% FY2025~+17% guided FY2026 (AI-driven reaccelerationGross margin
~8.9% FY20259.5% in Q3 FY26 ($828M / $8.751BOp margin
Corenon-GAAP) op margin 5.4% FY2025, guided 5.8% FY2026; GAAP op margin ~5.1% (Q3 FY26 GAAP op income $445M on $8.751BCapex intensity
~3% of revenuelow-asset EMS model; net capex ~$0.9-1.0B/yrMarket cap
~$36BNYSE: JBL; $35.76B at ~$342/share, Jul 2 2026 close $341.30; 52-wk range ~$190-$429The read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence