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Relative valuation derived from Technology sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 50GRADE C+
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
43.4%
Sector: -1.4%
Dividend Analysis audit
GROWTH
0.15%
Trailing Yield
$0.15
Per $100 Invested
Modest dividend — capital prioritized for reinvestment.
Est. Payout Ratio
7%SAFE
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, JABIL INC (JBL) receives a "Hold" rating with a composite score of 48.2/100, ranked #739 out of 4446 stocks. Key factor scores: Quality 50/100, Value 41/100, Momentum 66/100. This is quantitative analysis only — not investment advice.
JABIL INC (JBL) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does JABIL INC Do?
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. JABIL INC (JBL) is classified as a large-cap stock in the Technology sector, specifically within the Electronic Equipment industry. The company is led by CEO Mark T. Mondello and employs approximately 250,000 people, headquartered in St. Petersburg, Florida. With a market capitalization of $28.7B, JBL is one of the prominent companies in the Technology sector.
JABIL INC (JBL) Stock Rating — Hold (April 2026)
As of April 2026, JABIL INC receives a Hold rating with a composite score of 48.2/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.JBL ranks #739 out of 4,446 stocks in our coverage universe. Within the Technology sector, JABIL INC ranks #66 of 584 stocks, placing it in the top quartile of its Technology peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
JBL Stock Price and 52-Week Range
JABIL INC (JBL) currently trades at $293.02. The 52-week high for JBL is $281.37, which means the stock is currently trading 4.1% from its annual peak. The 52-week low is $108.66, putting the stock 169.7% above its annual trough. Recent trading volume was 0 shares, suggesting relatively thin trading activity.
Is JBL Overvalued or Undervalued? — Valuation Analysis
JABIL INC (JBL) carries a value factor score of 41/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 49.25x, compared to the Technology sector average of 45.27x — a premium of 9%. The price-to-book ratio stands at 21.39x, versus the sector average of 3.16x. The price-to-sales ratio is 0.97x, compared to 1.06x for the average Technology stock. On an enterprise value basis, JBL trades at 28.10x EV/EBITDA, versus 12.79x for the sector.
Overall, JBL's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
JABIL INC Profitability — ROE, Margins, and Quality Score
JABIL INC (JBL) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 43.4%, compared to the Technology sector average of -1.4%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 3.0% versus the sector average of -1.0%.
On a margin basis, JABIL INC reports gross margins of 8.7%, compared to 50.9% for the sector. The operating margin is 3.8% (sector: -0.5%). Net profit margin stands at 1.9%, versus -1.5% for the average Technology stock. Revenue growth is running at 22.8% on a trailing basis, compared to 14.2% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
JBL Debt, Balance Sheet, and Financial Health
JABIL INC has a debt-to-equity ratio of 214.0%, compared to the Technology sector average of 43.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 0.99x, which may signal near-term liquidity tightness. Total debt on the balance sheet is $2.89B.
JBL has a beta of 1.44, meaning it is more volatile than the broader market — a $10,000 investment in JBL would be expected to move 44.2% more than the S&P 500 on any given day. The stability factor score for JABIL INC is 53/100, reflecting average volatility within the normal range for its sector.
JABIL INC Revenue and Earnings History — Quarterly Trend
In TTM 2026, JABIL INC reported revenue of $29.86B and earnings per share (EPS) of $1.37. Net income for the quarter was $585M. Gross margin was 8.7%. Operating income came in at $1.13B.
In Q1 2026, JABIL INC reported revenue of $8.30B and earnings per share (EPS) of $1.37. Net income for the quarter was $146M. Gross margin was 8.9%. Revenue grew 18.7% year-over-year compared to Q1 2025. Operating income came in at $283M.
In FY 2025, JABIL INC reported revenue of $29.80B and earnings per share (EPS) of $6.00. Net income for the quarter was $657M. Gross margin was 8.9%. Revenue grew 3.2% year-over-year compared to FY 2024. Operating income came in at $1.18B.
In Q3 2025, JABIL INC reported revenue of $7.83B and earnings per share (EPS) of $2.05. Net income for the quarter was $222M. Gross margin was 8.7%. Revenue grew 15.7% year-over-year compared to Q3 2024. Operating income came in at $403M.
Over the past 8 quarters, JABIL INC has demonstrated a growth trajectory, with revenue expanding from $6.76B to $29.86B. Investors analyzing JBL stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
JBL Dividend Yield and Income Analysis
JABIL INC (JBL) currently pays a dividend yield of 0.1%. At this yield, a $10,000 investment in JBL stock would generate approximately $$15.00 in annual dividend income.
JBL Momentum and Technical Analysis Profile
JABIL INC (JBL) has a momentum factor score of 66/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 27/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
JBL vs Competitors — Technology Sector Ranking and Peer Comparison
Comparing JBL against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full JBL vs S&P 500 (SPY) comparison to assess how JABIL INC stacks up against the broader market across all factor dimensions.
JBL Next Earnings Date
No upcoming earnings date has been announced for JABIL INC (JBL) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy JBL? — Investment Thesis Summary
JABIL INC presents a balanced picture with arguments on both sides. Price momentum is positive at 66/100, suggesting the trend favors buyers.
In summary, JABIL INC (JBL) earns a Hold rating with a composite score of 48.2/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on JBL stock.
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Institutional Research Dossier
JABIL INC (JBL) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
We maintain a Hold rating on Jabil Inc. (JBL). While the company operates in a growing sector and has demonstrated revenue growth, concerns regarding its relatively low margins compared to peers, high debt levels, and premium valuation metrics temper our enthusiasm. The company's reliance on a few key customers and the cyclical nature of the electronics manufacturing services industry also present risks that warrant a cautious approach.
Jabil's recent revenue growth is encouraging, but its ability to translate this into sustained profitability and free cash flow generation remains a key area of focus. The current valuation, particularly the high P/E and EV/EBITDA ratios relative to the sector, suggests that the market has already priced in significant future growth, leaving limited upside potential in our view. Therefore, we believe a Hold rating is appropriate until Jabil demonstrates consistent margin improvement and deleveraging.
Business Strategy & Overview
Jabil Inc. operates as a global provider of manufacturing services and solutions, primarily serving the electronics and diversified manufacturing sectors. The company's business is divided into two segments: Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). EMS focuses on providing design, production, and product management services for electronic components and systems. DMS caters to a broader range of industries, including healthcare, packaging, mobility, and automotive, offering similar services but with a greater emphasis on customized solutions.
Jabil's strategic positioning revolves around offering end-to-end manufacturing solutions, from design and prototyping to mass production and supply chain management. This comprehensive approach aims to attract and retain customers by simplifying their manufacturing processes and reducing costs. The company serves a diverse range of industries, which helps to mitigate risk associated with any single sector. However, this diversification also requires Jabil to maintain expertise across a wide array of technologies and manufacturing processes.
The company's product pipeline is not explicitly detailed in the provided data, but it can be inferred that Jabil continuously invests in new technologies and capabilities to meet the evolving needs of its customers. This includes advancements in areas such as automation, robotics, and data analytics to improve manufacturing efficiency and quality. Jabil also focuses on developing sustainable manufacturing practices to align with growing environmental concerns and customer demands.
Jabil operates within a highly competitive industry, facing competition from other large EMS providers such as Foxconn, Flex, and Wistron. The industry is characterized by intense price competition and rapid technological advancements. To differentiate itself, Jabil emphasizes its comprehensive service offerings, global footprint, and strong customer relationships. The company also seeks to gain a competitive edge through investments in innovation and operational excellence.
The industry context is shaped by several key trends, including the increasing complexity of electronic devices, the growing demand for customized manufacturing solutions, and the shift towards more sustainable and resilient supply chains. Jabil is well-positioned to capitalize on these trends, but it must also navigate challenges such as rising labor costs, geopolitical uncertainties, and the ongoing semiconductor shortage. The company's ability to adapt to these changing conditions will be crucial to its long-term success.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
22.8%
Sector: 14.2%
+60% VS SCTR
Economic Moat Analysis
Jabil's economic moat is best characterized as Narrow. While the company possesses certain advantages, they are not substantial enough to create a wide and sustainable competitive edge. The primary sources of Jabil's narrow moat are switching costs and, to a lesser extent, intangible assets.
Switching costs arise from the complexity and integration of Jabil's services into its customers' operations. Once a customer has outsourced its manufacturing to Jabil, switching to a different provider can be costly and time-consuming. This is due to the need to re-establish processes, transfer knowledge, and ensure compatibility with existing systems. However, these switching costs are not insurmountable, and customers can and do switch providers if they find a better deal or a more suitable partner.
Jabil also benefits from intangible assets in the form of its reputation and expertise in manufacturing. The company has a long track record of providing high-quality manufacturing services to a diverse range of customers. This reputation helps to attract new customers and retain existing ones. However, the EMS industry is not characterized by strong brand loyalty, and customers are primarily driven by price and performance.
Jabil does not possess a significant cost advantage. While the company strives to improve its operational efficiency, it faces intense price competition from other EMS providers, particularly those located in low-cost countries. This limits Jabil's ability to generate consistently high margins.
The company also does not benefit from network effects or efficient scale. The value of Jabil's services does not increase as more customers use them, and the company does not have a natural monopoly in any of its markets. Therefore, while Jabil has some competitive advantages, they are not strong enough to create a wide and durable moat. The company's ability to maintain its narrow moat will depend on its continued focus on innovation, customer service, and operational excellence.
Financial Health & Profitability
Jabil's financial health presents a mixed picture. While the company has demonstrated revenue growth, its profitability and balance sheet leverage raise concerns. The company's revenue has grown significantly in recent years, with a TTM revenue of $8.30 billion and a revenue growth rate of 22.8% compared to the sector average of 14.0%. This indicates strong demand for Jabil's services and its ability to capture market share.
However, Jabil's margins are relatively low compared to the sector. The company's gross margin of 8.7% is significantly lower than the sector average of 51.2%. Similarly, its operating margin of 3.8% and net margin of 1.9% are also below the sector averages of -0.5% and -1.5%, respectively. This suggests that Jabil is facing intense price competition and is struggling to translate its revenue growth into higher profitability. The quarterly financial history shows some fluctuation in gross and operating margins, but no clear trend of sustained improvement.
Jabil's ROE of 43.4% is significantly higher than the sector average of -1.5%, which is a positive sign. However, this high ROE may be partly due to the company's high leverage. Jabil's debt-to-equity ratio of 214.00 is significantly higher than the sector average of 43.00, indicating a high level of financial risk. The company's total debt stands at $2.89 billion, which is a substantial amount relative to its EBITDA of $283.00 million. The current ratio of 0.99 indicates that the company may face liquidity challenges in the short term.
The absence of free cash flow data in the provided information makes it difficult to assess Jabil's cash flow generation capabilities. However, the company's high debt levels and low margins suggest that it may be facing challenges in generating sufficient free cash flow to fund its growth and deleverage its balance sheet. The significant FCF figure for FY2024 ($2.59B) is an outlier compared to other years, and the lack of FCF data for other periods makes it difficult to assess the consistency of cash flow generation.
Overall, Jabil's financial health is a concern. While the company has demonstrated strong revenue growth, its low margins, high debt levels, and uncertain cash flow generation capabilities warrant a cautious approach. The company needs to improve its profitability and deleverage its balance sheet to strengthen its financial position.
Valuation Assessment
Jabil's valuation appears stretched based on several key metrics. The company's P/E ratio of 185.1x is significantly higher than the sector average of 45.3x, suggesting that the market has high expectations for future earnings growth. Similarly, its EV/EBITDA ratio of 26.2x is also much higher than the sector average of 13.0x, indicating that the company is trading at a premium to its peers.
The high valuation multiples may be justified if Jabil were growing at a significantly faster rate than its peers and generating consistently high margins. However, while the company's revenue growth of 22.8% is higher than the sector average of 14.0%, its margins are significantly lower. This suggests that the market may be overestimating Jabil's ability to translate its revenue growth into higher profitability.
The absence of free cash flow data makes it difficult to assess Jabil's valuation based on cash flow metrics. However, the company's high debt levels and low margins suggest that its free cash flow yield may be relatively low. This would further support the argument that the stock is overvalued.
Compared to its historical valuation, Jabil's current multiples are also relatively high. The company's P/E ratio has fluctuated significantly in recent years, but it is currently trading at the high end of its historical range. This suggests that the stock may be vulnerable to a correction if the company fails to meet the market's expectations.
Overall, Jabil's valuation appears expensive relative to its growth, its history, and its sector. The high P/E and EV/EBITDA ratios suggest that the market has already priced in significant future growth, leaving limited upside potential. Therefore, we believe that the stock is currently overvalued.
Risk & Uncertainty
Jabil faces several specific, idiosyncratic risks that could negatively impact its business and financial performance. One of the most significant risks is customer concentration. The company relies on a relatively small number of key customers for a significant portion of its revenue. A loss of one or more of these key customers could have a material adverse effect on Jabil's financial results.
Another risk is the cyclical nature of the electronics manufacturing services industry. Demand for Jabil's services is highly dependent on the overall health of the global economy and the demand for electronic devices. Economic downturns or slowdowns in the electronics industry could lead to a decline in Jabil's revenue and profitability.
Jabil also faces risks related to its global operations. The company has manufacturing facilities and customers located in various countries around the world. This exposes Jabil to risks such as political instability, currency fluctuations, and trade disputes. Changes in government regulations or trade policies could also negatively impact Jabil's business.
The company's high debt levels also pose a risk. Jabil has a significant amount of debt outstanding, which could make it more difficult to finance its operations and invest in growth opportunities. The company's debt covenants could also restrict its ability to take certain actions, such as making acquisitions or paying dividends.
Finally, Jabil faces risks related to competition. The EMS industry is highly competitive, with numerous players vying for market share. Jabil competes with other large EMS providers, as well as smaller, more specialized manufacturers. Intense price competition could put pressure on Jabil's margins and profitability.
Bulls Say / Bears Say
The Bull Case
BULL VIEWJabil's strong revenue growth demonstrates its ability to capture market share in a growing industry, suggesting continued upside potential.
BULL VIEWThe company's strategic focus on diversified manufacturing services provides resilience against cyclical downturns in specific sectors, mitigating risk.
The Bear Case
BEAR VIEWJabil's low margins compared to its peers indicate operational inefficiencies and pricing pressures, limiting its ability to generate sustainable profits.
BEAR VIEWThe company's high debt levels and premium valuation multiples create significant downside risk if it fails to meet the market's lofty expectations.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score JBL and 4,400+ other equities.
JABIL INC exhibits a 174% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
3.0%
Sector: -1.0%
Gross Margin
Pricing power and cost efficiency
8.7%
Sector: 50.9%
Operating Margin
Core business profitability
3.8%
Sector: -0.5%
Net Margin
Bottom-line profitability
1.9%
Sector: -1.5%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield0.00%
Yield Delta—
Income Projection audit
A $10,000 investment would generate approximately $15 annually in dividends at the current trailing rate.
