JBLJabil
Is the business good?
The checks split: earnings fully cash-backed (1.7×), but returns that lean on debt.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
Leverage-amplified, a high assets-to-equity ratio does much of the work. ROE 55% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is JBL?
Jabil earns 34% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 25 points above what the capital costs: growth creates value
- Operating margin
- 4.3%
Operating margin · Electronic Components median 8.4% · 12 months to Q3 2026
- Cash conversion
- 1.75×
Cash conversion · 2.05× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −2.6%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 1.8% |
| FY2021 | 3.6% |
| FY2022 | 4.2% |
| FY2023 | 4.4% |
| FY2024 | 7.0% |
| FY2025 | 4.0% |
Details›
- Gross margin12 months to Q3 2026
- 9.2%
- Operating margin12 months to Q3 2026
- 4.3%
- Net margin12 months to Q3 2026
- 2.6%
- Free cash flow margin
- 3.9%
- R&D as % of revenue
- 0.08%
- Revenue, trailing twelve months
- $33.6B
- Free cash flow, trailing twelve months
- $1.31B
- Net income, trailing twelve months
- $862M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 34%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Electronic Components
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