Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Price at analysis: ~$374 per share Market capitalization: ~$39.5 billion Enterprise value: ~$41.5 billion Jabil is one of the two or three largest contract electronics manufacturers on earth, and right now it is the belle of the ball because it builds the racks, power systems, and thermal plumbing that hyperscalers are throwing money at to feed the artificial-intelligence boom. Management is good. The buyback discipline is genuinely first-rate. Revenue is compounding, earnings per share are compounding faster, and the stock has quadrupled. All of that is true, and none of it changes what the business fundamentally is: a capital-intensive, low-margin, price-taking manufacturer that earns roughly five-and-a-half cents of operating profit on every dollar of revenue and has no ability to raise prices on a customer who decides to shop the order across the street. We admire the operators.
Recent filings analysed: 10-Q (2026-06-30), 8-K (2026-06-17), 8-K (2026-04-22), 10-Q (2026-04-08).
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