JABIL
JBL · NYSEPrinted Circuit Boards · Fiscal year ends Aug 31
JABIL reported revenue of $29.8B in the fiscal year ended Aug 2025, up 3.2% from the year before. Operating income was $1.2B, an operating margin of 4.0%, and net income was $657M. Operating cash flow of $1.6B less capital expenditure of $468M left free cash flow of $1.2B. Net debt was $952M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Aug 2021 | Aug 2022 | Aug 2023 | Aug 2024 | Aug 2025 |
|---|---|---|---|---|---|
| Revenue | $29.3B | $33.5B | $34.7B | $28.9B | $29.8B |
| Cost of revenue | $26.9B | $30.8B | $31.8B | $26.2B | $27.2B |
| Gross profit | $2.4B | $2.6B | $2.9B | $2.7B | $2.6B |
| Research & development | $34M | $33M | $34M | $39M | $26M |
| Selling, general & admin | $1.2B | $1.2B | $1.2B | $1.2B | $1.1B |
| Operating income | $1.1B | $1.4B | $1.5B | $2B | $1.2B |
| Net interest incomeBanks | −$124M | −$146M | −$206M | – | – |
| Interest expense | $130M | $151M | – | – | – |
| Pre-tax income | $944M | $1.2B | $1.3B | $1.8B | $892M |
| Income tax | $246M | $235M | $444M | $363M | $235M |
| Net income | $696M | $996M | $818M | $1.4B | $657M |
| Diluted EPS | 4.58 | 6.90 | 6.02 | 11.17 | 5.92 |
| Diluted shares | 152M | 144M | 136M | 124M | 111M |
Balance sheet
| Fiscal year | Aug 2021 | Aug 2022 | Aug 2023 | Aug 2024 | Aug 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.6B | $1.5B | $1.8B | $2.2B | $1.9B |
| Receivables | $3.1B | $4B | $3.6B | – | – |
| Inventory | $4.4B | $6.1B | $5.2B | $4.3B | $4.7B |
| Current assets | $10.9B | $13.9B | $14.7B | $12.8B | $13.7B |
| Goodwill | $715M | $704M | $621M | $661M | $841M |
| Total assets | $16.7B | $19.7B | $19.4B | $17.4B | $18.5B |
| Payables | $6.8B | $8B | $5.7B | $6.2B | $7.9B |
| Deferred revenue | $559M | $796M | $886M | $1B | $1B |
| Current liabilities | $10.7B | $13.7B | $12.7B | $11.8B | $13.7B |
| Short-term debt | $0 | $300M | $0 | $0 | $499M |
| Long-term debt | $2.9B | $2.6B | $2.9B | $2.9B | $2.4B |
| Total liabilities | $14.5B | $17.3B | $16.6B | $15.6B | $17B |
| Shareholders' equity | $2.1B | $2.5B | $2.9B | $1.7B | $1.5B |
Cash flow
| Fiscal year | Aug 2021 | Aug 2022 | Aug 2023 | Aug 2024 | Aug 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $1.4B | $1.7B | $1.7B | $1.7B | $1.6B |
| Capital expenditure | $1.2B | $1.4B | $1B | $784M | $468M |
| Free cash flow | $274M | $266M | $704M | $932M | $1.2B |
| Depreciation & amortisation | $876M | $925M | $924M | $696M | $674M |
| Stock-based compensation | $102M | $81M | $95M | $89M | $107M |
| Acquisitions | $50M | $18M | $29M | $90M | $392M |
| Share buybacks | $428M | $696M | $487M | $2.5B | $1B |
| Dividends paid | $50M | $48M | $45M | $42M | $36M |
Key ratios
| Fiscal year | Aug 2021 | Aug 2022 | Aug 2023 | Aug 2024 | Aug 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 14.3% | 3.7% | −16.8% | 3.2% |
| Operating income growth (YoY) | – | 32.0% | 10.3% | 31.0% | −41.3% |
| EPS growth (YoY) | – | 50.7% | −12.8% | 85.5% | −47.0% |
| Gross margin | 8.1% | 7.9% | 8.3% | 9.3% | 8.9% |
| Operating margin | 3.6% | 4.2% | 4.4% | 7.0% | 4.0% |
| Net margin | 2.4% | 3.0% | 2.4% | 4.8% | 2.2% |
| Return on equityBlank when equity is negative | 32.6% | 40.6% | 28.5% | 79.9% | 43.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 17.7% | 23.1% | 22.8% | 36.1% | 24.5% |
| Free cash flow margin | 0.9% | 0.8% | 2.0% | 3.2% | 3.9% |
| Cash conversion (CFO ÷ net income) | 2.06x | 1.66x | 2.12x | 1.24x | 2.50x |
| Receivable days | 39 | 44 | 38 | – | – |
| Inventory days | 60 | 73 | 60 | 60 | 63 |
| Payable days | 93 | 95 | 65 | 86 | 107 |
| Interest cover | 8.12x | 9.23x | – | – | – |
| Debt ÷ equity | 1.35x | 1.17x | 1.00x | 1.66x | 1.91x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $1.3B | $1.4B | $1.1B | $679M | $952M |
| Current ratio | 1.02x | 1.02x | 1.16x | 1.09x | 1.00x |
Recent filings
More in Printed Circuit Boards
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.