# Jabil Inc. (JBL)

> Source: Nexqual · https://nexqual.com/JBL · data as of 2026-10-22 20:02 UTC · cite as "Nexqual, Jabil Inc. (JBL), nexqual.com/JBL" · informational, not investment advice.

**Price:** USD 267.41 (-4.83% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 280.99 · day 259.44–273.75 · 52w 189.6–428.93 · market cap $28.0B · NYQ

## Key facts
- Last four reported quarters (through May 31, 2026): revenue $33.6B, net income $862M (2.6% margin), free cash flow $1.31B (SEC filings).
- Valuation: P/E 32.5x (avg 21.1x at the last 3 fiscal year-ends), EV/EBITDA 14.1x, net debt $2.02B.
- 1 of 80 tracked superinvestors hold JBL (13F, Q2 2026): 1 new, 0 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 15 Form 4 filings, $13.8M; 13 not under a Rule 10b5-1 plan ($13.2M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 3 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $150K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.90 on a 1–5 scale) (10 analysts), mean target USD 425 (range 365–475).
- Total return with dividends: 1Y +29.6% vs S&P 500 +14.9%; 5Y +340.5% vs S&P 500 +80.3%.
- Next earnings: 2026-12-16, EPS estimate USD 4.05, revenue estimate $11.0B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $29.3B | $33.5B | $34.7B | $28.9B | $29.8B | $33.6B |
| Gross profit | $2.36B | $2.63B | $2.87B | $2.68B | $2.65B | — |
| Operating income | $1.05B | $1.39B | $1.54B | $2.01B | $1.18B | $1.44B |
| Net income | $696M | $996M | $818M | $1.39B | $657M | $862M |
| EPS (diluted) | $4.58 | $6.90 | $6.02 | $11.17 | $5.92 | — |
| Free cash flow | $274M | $266M | $704M | $932M | $1.17B | $1.31B |
| Gross margin | 8.1% | 7.9% | 8.3% | 9.3% | 8.9% | — |
| Operating margin | 3.6% | 4.2% | 4.4% | 7.0% | 4.0% | 4.3% |
| Net margin | 2.4% | 3.0% | 2.4% | 4.8% | 2.2% | 2.6% |
| Revenue growth | +7.4% | +14.3% | +3.7% | -16.8% | +3.2% | — |
| Cash + short-term investments | $1.57B | $1.48B | $1.80B | $2.20B | $1.93B | — |
| Total debt | $2.88B | $2.88B | $2.88B | $2.88B | $2.88B | — |
Fiscal years end Aug. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through May 31, 2026)
P/E 32.5x · P/S 0.8x · EV/EBITDA 14.1x · EV/Sales 0.9x · P/FCF 21.5x · P/B 21.2x · FCF yield 4.66% · Earnings yield 3.08% · Dividend yield (paid, TTM) 0.12% · Buyback yield (TTM) 3.27% · Net debt $2.02B · EV $30.0B
P/E at fiscal year-ends: Aug 2025 34.6x, Aug 2024 9.8x, Aug 2023 19.0x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold JBL. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.01% | $756K | New position |

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 15 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-20 | Schick Gary K. | SVP, CHRO | 1,000 | $277K | 2.6% | Yes (adopted March 21, 2026) | Too little history (no open-market trades in 2023) |
| 2026-07-15 | Schick Gary K. | SVP, CHRO | 1,000 | $320K | 2.5% | Yes (adopted March 21, 2026) | Too little history (no open-market trades in 2023) |
| 2026-07-06 | Crowley Matthew | EVP, Global Business Units | 94 | $32K | 0.2% | No | Too little history (no open-market trades in 2023) |
| 2026-04-30 | Schick Gary K. | SVP, CHRO | 1,000 | $340K | 2.4% | No | Too little history (no open-market trades in 2023) |
| 2026-04-20 | Priestley Andrew | EVP, Chief Operations Officer | 3,169 | $1.0M | 5.3% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-17 | Borges Steven D | EVP, Global Business Units | 5,126 | $1.6M | 6.7% | No | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-04-16 | Yap May Yee | SVP, Chief Information Officer | 1,634 | $501K | 6.4% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-04-13 | Renno Rafael | SVP, Global Business Units | 1,000 | $305K | 5.5% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-10 | Priestley Andrew | EVP, Chief Operations Officer | 4,000 | $1.2M | 6.2% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-10 | Berry Adam E. | SVP, IR and Corporate Affairs | 1,585 | $477K | 8.8% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-10 | Ansari Anousheh | Director | 2,000 | $600K | 5.9% | No | Too little history (no open-market trades in 2024) |
| 2026-04-09 | Borges Steven D | EVP, Global Business Units | 7,000 | $2.1M | 8.4% | No | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-04-08 | Renno Rafael | SVP, Global Business Units | 1,000 | $288K | 5.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-08 | Borges Steven D | EVP, Global Business Units | 7,000 | $2.0M | 7.7% | No | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-04-08 | Dastoor Michael | CEO | 9,467 | $2.7M | 3.6% | No | Too little history (no open-market trades in 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $150K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-07-17 | Tyagarajan N. V. | Director | 500 | $150K | 299.63 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Buy (mean 1.90 on a 1–5 scale), 10 analysts; mean target USD 425 (low 365, high 475).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-01 | JP Morgan | Target raised | Overweight | $425 → $430 |
| 2026-10-01 | Argus Research | Reiterated | Buy | $475 |
| 2026-10-01 | Barclays | Target lowered | Overweight | $426 → $378 |
| 2026-09-08 | Goldman Sachs | Target lowered | Buy | $482 → $375 |
| 2026-08-11 | UBS | Upgrade | Neutral → Buy | $430 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +29.6% | +340.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +29.7% | +34.4% |
| Volatility (annualized) | 47.5% | 38.0% |
| Max drawdown | -30.6% (Jun 2026→Oct 2026) | -34.1% (Mar 2024→Jul 2024) |

## Peers (Electronic Components)
FLEX (Flex Ltd.) USD 76.69 -11.08% · CLS (Celestica, Inc.) USD 269.01 -11.69% · TEL (TE Connectivity plc) USD 208.42 -2.65% · FN (Fabrinet) USD 317.67 -10.78% · LFUS (Littelfuse, Inc.) USD 350.28 -10.10% · VICR (Vicor Corporation) USD 179.99 -15.66%

## More
Full page: https://nexqual.com/JBL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in JBL's own 10-K filed 2025-10-17 (https://www.sec.gov/Archives/edgar/data/898293/000162828025045293/jbl-20250831.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Related party | Amazon (AMZN) | "Transactions between the Company and Amazon for businesses under Mr. Siminoff's oversight are considered related party transactions." |

Other companies that name JBL in their own reports (relationship from JBL's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| competitor | Kimball Electronics, Inc. (KE) | 10-K 2026-08-19 | "Our competition includes EMS companies such as Benchmark Electronics, Inc., Flex Ltd., Jabil Inc., Plexus Corp., and Sanmina Corporation as well as specialized providers of medical device manufacturin…" |
| competitor | Fabrinet (FN) | 10-K 2026-08-18 | "Competitors in the market for optical manufacturing services include Benchmark Electronics, Inc., Celestica Inc., InnoLight Technology (Suzhou) Ltd., Jabil Inc., Sanmina Corporation, Venture Corporati…" |
| customer | Life360, Inc. (LIF) | 10-K 2026-03-02 | "•our ability to continue to manufacture our hardware products on reasonable terms, including our ability to continue our relationship with Jabil, Inc. ("Jabil"), or at all;" |
| competitor | CELESTICA INC (CLS) | 10-K 2026-02-27 | "Our competitors in the EMS industry include Benchmark Electronics, Inc., Flex Ltd., Hon Hai Precision Industry Co., Ltd., Jabil Inc., Plexus Corp., and Sanmina Corporation, as well as smaller EMS comp…" |
| customer | SOLAREDGE TECHNOLOGIES, INC. (SEDG) | 10-K 2026-02-25 | "We currently contract to have our solar products manufactured by two of the world's leading global electronics manufacturing service providers, Jabil Inc. ("Jabil") and Flex Ltd. ("Flex")." |
| competitor | BENCHMARK ELECTRONICS INC (BHE) | 10-K 2026-02-24 | "Our competitors include Celestica Inc., Flex Ltd., Jabil Inc., Kimball Electronics Inc., Plexus Corp, and Sanmina Corporation." |
| competitor | Ultra Clean Holdings, Inc. (UCTT) | 10-K 2026-02-23 | "Our principal competitors for gas delivery systems are Ichor Systems, Inc. and Fujikin Incorporated; our principal competitors for other critical subsystems are Foxsemicon Integrated Technology Inc., …" |
| partner | Arista Networks, Inc. (ANET) | 10-K 2026-02-17 | "Our primary manufacturing partners are Jabil Inc., Sanmina Corporation and Foxconn Hon Hai." |
| supplier | COHU INC (COHU) | 10-K 2026-02-17 | "In the event that Jabil is unable to meet our current delivery schedule for semiconductor test systems, or if Jabil experienced unexpected downtime, we may not be able to sell to our customers, or hav…" |
| competitor | TD SYNNEX CORP (SNX) | 10-K 2026-01-27 | "We also compete against companies who participate within the hyperscale computing infrastructure market including Jabil Inc., Celestica, Flex Ltd., Quanta Computer Inc. and Wiwynn Corporation." |
| competitor | SANMINA CORP (SANM) | 10-K 2025-11-13 | "Our competitors include major global EMS providers, including Benchmark Electronics, Inc., Celestica, Inc., Flex Ltd., Hon Hai Precision Industry Co., Ltd. (Foxconn), Jabil Inc. and Plexus Corp., as w…" |

## Revenue by business segment (quarter ended 2026-05-31)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Intelligent Infrastructure | $4.17B | 47.6% | +21.4% | $256.0M | 6.1% |
| Regulated Industries | $3.18B | 36.4% | +4.1% | $180.0M | 5.7% |
| Connected Living and Digital Commerce | $1.40B | 16.0% | +4.6% | $68.0M | 4.9% |
| Total revenue | $8.75B | 100% | — | $504.0M | 5.8% |

## Revenue by region (fiscal year ended 2025-08-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Foreign source revenue | $22.36B | 75.0% | -6.2% |
| — Other Countries (part of Foreign source revenue) | $8.83B | 29.6% | +1.9% |
| — Mexico (part of Foreign source revenue) | $5.69B | 19.1% | -3.1% |
| — China (part of Foreign source revenue) | $4.20B | 14.1% | -12.8% |
| — Malaysia (part of Foreign source revenue) | $3.64B | 12.2% | — |
| United States | $7.44B | 25.0% | +47.5% |
| Total revenue | $29.80B | 100% | — |

## Customer concentration

Period ended 2025-08-31: 16% of revenue from unnamed direct customers (10-K, filed 2025-10-17).

## Company outlook (8-K filed 2026-09-30)

- "GAAP diluted earnings per share: $9.75 • Core operating income (Non-GAAP): $2.1 billion • Core diluted earnings per share (Non-GAAP): $13.09 First Quarter of Fiscal Year 2027 Outlook: • Net revenue $10.6 billion to $11.4 billion • U.S."

Analysts expect $11.01B for the current quarter, +0.1% vs the guidance midpoint $11.00B. Source: https://www.sec.gov/Archives/edgar/data/898293/000162828026063890/jbl-20260930ex991.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-11-30) | $4.05 | $3.60 | +12.6% | $11.01B | 8 |
| Next quarter (ends 2027-02-28) | $3.85 | $3.74 | +2.7% | $10.63B | 8 |
| Current fiscal year (ends 2027-08-31) | $17.69 | $16.75 | +5.6% | $44.78B | 9 |
| Next fiscal year (ends 2028-08-31) | $22.17 | $19.87 | +11.5% | $52.07B | 9 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-12-16): ±18.1%; earnings reaction alone ±8.2%; last 8 reports averaged ±4.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 58.3% | ±6.9% |
| 2026-11-06 | 14 | 56.2% | ±9.1% |
| 2026-11-13 | 21 | 54.9% | ±10.8% |
| 2026-11-20 | 28 | 53.4% | ±12.0% |
| 2026-11-27 | 35 | 50.1% | ±12.5% |
| 2026-12-04 | 42 | 52.1% | ±14.2% |
| 2026-12-18 | 56 | 57.7% | ±18.1% |
| 2027-01-15 | 84 | 53.4% | ±20.6% |