servers & ODM · 產業指數 10 (排名 #129) ·
價格: 截至 2026-10-30 指數: 截至 2026-10-30 基本面: 最新申報文件 2026-06-30 按季揭露（10-Q XBRL）
Jabil is a global electronics manufacturing services company that builds data-center racks, power, cooling and silicon-photonics hardware for cloud and AI infrastructure.
產業曝險 0.3 (AI/data-center hardware is a growing segment within a diversified EMS portfolio spanning healthcare, automotive and consumer end-markets.)
延遲的日終逐合約彙總資料——不是即時盤口，也不是逐筆資金流。買賣方向是根據每個合約最後一筆成交在買賣價差中的位置推斷出來的，並非觀測到的委託流。除非有報價的合約佔當日權利金的四分之一以上，否則公司層級的方向會被隱去，因此下方個別合約有方向時這裡也可能為空。買權/賣權權利金是在我們擷取的合約範圍內計算的——最近的 6 個到期日、45 天以內，並非完整選擇權鏈——而下表最多列出 20 個被標記的合約，所以把這些列加總不會還原出上面的百分比。
標記原因：Personal Income & Outlays (PCE) in 1 day
| 日期 | 合約 | 異常分數 | 買賣方向（推斷）? | 未平倉變動? | 成交量 | 成交量/未平倉 | 標記 |
|---|---|---|---|---|---|---|---|
| 2026-10-28 | $300 CALL | 49 | 價差中段 · 無法判定方向 | +1 | 246 | 24.6× |
19 smaller flags (under $100000 premium) hidden.
最近交易日：為 13 日基準的 1.0 倍
買權 57% / 賣權 43%（按權利金）
新聞 主導了這次看空判斷；其餘代理人意見分歧，信心度反映的正是這種分歧。
多數投票者傾向一致；新聞 投了反對票。方向一致度 0.51。
一個明確的看空分數；信心度 0.36 反映的是代理人之間的一致強度。信心度是信心，不是價格變動的機率。
Jabil provides engineering, manufacturing and supply chain services through three segments. Per its FY2025 10-K, Intelligent Infrastructure serves "capital equipment, cloud and data center infrastructure, and networking and communications" customers; Regulated Industries serves automotive and transportation, healthcare and packaging, and renewables and energy infrastructure; and Connected Living and Digital Commerce is focused on "digitalization and automation, including warehouse automation and robotics". AI demand now drives growth: the fiscal 2026 release (2026-09-30) reports net revenue of $36.0 billion, with the CEO saying Jabil "grew revenue 21%, expanded core operating margin 40 basis points", and on the Q4 FY2026 call management said "AI-related revenue was up 60% year-over-year", that Jabil "ended the year with four customers with AI related revenue above a billion dollars annually", and that it expects cloud and data center infrastructure revenue of "approximately $17.5 billion" in fiscal 2027. The 10-K shows the limits: the five largest customers were approximately 36% of fiscal 2025 revenue and one customer, reported primarily in Intelligent Infrastructure, 16%; manufacturing processes are "generally not subject to significant proprietary protection"; and competitors may "be willing or able to make sales or provide services at lower margins than we do". An independent tally (EMSNOW/in4ma, 2026-03-06) counts Jabil among the US "big four" EMS providers while putting Foxconn, Wistron, Quanta and Wiwynn at "nearly 57% of global EMS/ODM production". A large, fast-growing contractor without a protected position.
評級: 無
Jabil's FY2025 10-K (fiscal year ended August 31, 2025) says it plainly: "Our business is highly competitive, and our manufacturing processes are generally not subject to significant proprietary protection." It adds that "The significant purchasing power and market power of these competitors, many of which are large companies, has and could increase pricing and competitive pressures for us", that some "have substantially greater manufacturing, research and development (R&D) and marketing resources", and that customers "are continually evaluating the merits of manufacturing products internally against the advantages of outsourcing". Stored fundamentals from the 10-Ks show gross profit of $2,867 million on $34,702 million of revenue in fiscal 2023, $2,676 million on $28,883 million in fiscal 2024 and $2,646 million on $29,802 million in fiscal 2025. AI demand has since accelerated growth (fiscal 2026 net revenue of $36.0 billion, per the 2026-09-30 release), but growth is not protection, and the filing's own description is of an unprotected, competitive service. No moat is claimable.
類型: 無
The 10-K says "We currently have a relatively modest number of patents for various innovations" and that Jabil relies "largely upon a combination of intellectual property laws, non-disclosure agreements with our customers, employees, and suppliers and our internal security systems, policies, and procedures", with other proprietary-rights factors being "the knowledge and experience of our management and workforce". Its stated advantages are operating methods (customer-dedicated business units, "highly automated, continuous flow manufacturing", global production and centralized procurement), not lock-in: "In the past, some of our customers moved a portion of their manufacturing from us in order to more fully utilize their excess internal manufacturing capacity." On the Q4 FY2026 call (https://earningswhispers.com/transcript/JBL/Q42026) management described a build-to-customer-design model rather than proprietary platforms: "We help customers build the system they've designed with their silicon, their architecture, and whichever suppliers they choose."
領先地位: 勢均力敵
The 10-K calls Jabil "one of the leading providers of engineering, manufacturing, and supply chain solutions" and claims no rank. Independently, EMSNOW/in4ma's "EMS&ODM Global 100" (2026-03-06, https://www.emsnow.com/?p=53535) groups Jabil with Flex, Celestica and Sanmina as the US "big four", "representing about 85% of the revenue base among ~20 US headquartered EMS/ODM", while Wistron, Quanta and Wiwynn "plus Foxconn together account for nearly 57% of global EMS/ODM production". The 10-K concedes some competitors have "substantially greater manufacturing, research and development (R&D) and marketing resources". Among the largest Western contract manufacturers but behind the Taiwanese leaders in scale: at parity, not a leader.
定價權: 弱
Stored fundamentals show gross profit of $2,867 million on $34,702 million of revenue in fiscal 2023, $2,676 million on $28,883 million in fiscal 2024 and $2,646 million on $29,802 million in fiscal 2025. The 10-K says "Most of our significant long-term customer contracts permit quarterly or other periodic prospective adjustments to pricing based on decreases and increases in component prices and other factors", so component costs largely pass through, while competitors may "be better positioned to compete on price for their services". Management's fiscal 2027 outlook is a core operating margin (non-GAAP) of 6.1% (release, https://www.sec.gov/Archives/edgar/data/898293/000162828026063890/jbl-20260930ex991.htm).
依所引來源做出的人工整理護城河判斷。 來源：sec.gov
層級: servers & ODM
Contract manufacturer for cloud, networking, semiconductor-equipment, automotive, healthcare and consumer customers. On the Q4 FY2026 call management said "Others in the industry are building product companies around their own power and cooling platforms and asking customers to standardize on them. That's a legitimate model. Ours is different."
由這家公司已對應的供應鏈關係及其所屬產業層級推導而來。
護城河先驗在長週期（約 6 個月）投出 -0.06 票，權重為 0.20——該週期上的群體判斷是 neutral（分數 -0.10，信念度 0）。
編輯先驗——主觀、未經回測。它有界（±0.6）、低信賴度，且從不對短週期與中週期投票。 檢視它究竟如何投票 →
產品與服務，附編輯判定的市佔區間與技術門檻區間——這些是與所引依據綁定的定性判斷，絕非杜撰的數字。
| 產品 | 市場佔有率 | 技術門檻 |
|---|---|---|
| Cloud and data center infrastructure · AI and cloud data-centre hardware manufacturing Data-centre hardware built for cloud and AI customers within the Intelligent Infrastructure segment; on the Q4 FY2026 call management said the Hanley acquisition "adds power engineering, deployment, and services to our manufacturing capabilities so we can help customers commission equipment and maintain it after installation". | 未知 The call gives revenue and growth, not share: "In cloud and data center infrastructure, we expect approximately $17.5 billion in revenue, up approximately 52% as the capacity we've invested in throughout the year ramps." No independent share source for this line was found, so the band is left unknown. | 低 Growth rests on capacity built ahead of demand and on deeper engagements (management said "I expect the second hyperscaler to be a 10% plus customer in FY27"). But the model is build-to-customer-design ("We help customers build the system they've designed with their silicon, their architecture, and whichever suppliers they choose"), and the FY2025 10-K says Jabil's manufacturing processes are "generally not subject to significant proprietary protection", so the barrier is moderate, not deep. |
| Connected Living and Digital Commerce · Consumer and automation electronics manufacturing Per the FY2025 10-K, a segment "focused on digitalization and automation, including warehouse automation and robotics", with revenue from customers "primarily in the connected living and digital commerce industries". | 未知 The 10-K gives no share for this segment and no independent share source was found, so the band is left unknown. | 低 The 10-K says Jabil competes "against numerous domestic and foreign electronic manufacturing solutions providers, diversified manufacturing service providers, and design providers" and against customers' own manufacturing operations, and that competitors may "be better positioned to compete on price for their services". |
| Regulated Industries (automotive, healthcare and packaging, energy infrastructure) · Regulated electronics and device manufacturing Per the FY2025 10-K, the Regulated Industries segment "is focused on regulated markets and includes revenues from customers primarily in the automotive and transportation, healthcare and packaging, and renewables and energy infrastructure industries". | 未知 The 10-K gives no share for regulated markets and no independent share source was found, so the band is left unknown. | 中等 Compliance raises the bar: for medical devices the 10-K says "We are required to register with the U.S. Food and Drug Administration" and are "subject to periodic inspection by the FDA for compliance with the FDA's Quality System Regulation". The same filing still describes the business as highly competitive with processes "generally not subject to significant proprietary protection", so the barrier is moderate rather than deep. |
這些圖表繪製的是 Jabil 在其 SEC 申報文件中已申報的損益表、現金流量表與資產負債表（截至 2026-06-30）。每一個數字都是申報原值 XBRL——沒有任何一項是預估。
在已申報的區間內，FY2025 淨利為 $657.0M。
分析師一致預期——來自 Yahoo Finance 的第三方預估，截至 2026-10-26。這不是 SEC 申報文件，也不是 TradingPilot 的預測。 來源：finance.yahoo.com
| 期間 | 每股盈餘（預估） | 營收（預估） | 年增率 |
|---|---|---|---|
| Q/E Nov 2026 | USD 4.05 (USD 4.00–USD 4.15) · 8 | USD 11.0B (USD 10.8B–USD 11.2B) · 7 | +33% |
| FY 2027 | USD 17.69 (USD 17.49–USD 18.03) · 9 | USD 44.8B (USD 44.5B–USD 45.6B) · 7 | +25% |
每個數字顯示一致預期平均值、可得時的（最低–最高）區間，以及 · 後面給出該預估背後的分析師人數。
下次財報約在 2026-12-16。
我們的模型在中週期上對這檔股票偏向 Low-confidence · Neutral——這是對市場方向的判斷，不是對獲利的預測。檢視「訊號」分頁。
正在與同業比較…
| 機構 | 股數 | 金額 | 季增減股數 | 佔 13F 比例 | 佔流通股比例 |
|---|---|---|---|---|---|
| BlackRock 被動 / 指數 | 10,132,052 | $3.9B | 452,717 | 0.1% | 9.84% |
| State Street 被動 / 指數 | 4,928,048 | $1.9B | -7,016 | 0.1% | 4.79% |
| FMR (Fidelity) 被動 / 指數 | 2,235,723 | $861.8M | -208,537 | 0.0% | 2.17% |
| Bridgewater Associates (Ray Dalio (founder)) 大師 | 87,526 | $33.7M | 47,956 | 0.1% | 0.08% |
| ARK Investment Management (Cathie Wood) 大師 | 245 | $94443 | -92 | 0.0% | 0.00% |
TradingPilot 計算的欄位（佔 13F 比例、佔流通股比例）由申報原值推導而來；只有名稱、股數與金額是申報原值。
Jabil · 2026-10-13 · 合作
Adani Enterprises and Jabil signed a non-binding MoU setting out the framework for a proposed 50:50 joint venture to manufacture and assemble AI and data center equipment in India. The venture is expected to have multi-gigawatt AI rack manufacturing capacity and remains subject to definitive agreements and applicable approvals.
SEC EDGAR (8-K Exhibit 99.1) · 2026-09-30 · 財報
Jabil reported fourth-quarter net revenue of $10.6 billion and core diluted EPS of $4.40. The CEO said fiscal 2026 revenue grew 21% and its teams supported significant growth in AI infrastructure; first-quarter fiscal 2027 net revenue is guided to $10.6 billion to $11.4 billion.
Google News: Jabil · 2026-07-16 · 財報
Jabil authorized a $1.5 billion stock buyback following strong third-quarter results.
Google News: Jabil · 2026-07-11 · 財報
Jabil shares surged after the company beat Q3 estimates and raised its fiscal 2026 outlook.
2026-10-25 Yahoo Finance: JBL · Jabil (JBL) Could Be 36% Undervalued As Earnings Expectations Improve
2026-10-25 Yahoo Finance: JBL · Can Jabil (JBL) Still Be A Bargain After Its AI Venture?
2026-10-25 Yahoo Finance: JBL · Is Earnings Growth Outlook Altering The Investment Case For Jabil (JBL)?
2026-10-23 Yahoo Finance: JBL · Jabil (JBL) Increases Despite Market Slip: Here's What You Need to Know
2026-10-22 Yahoo Finance: JBL · Jabil Declares Quarterly Dividend
2026-10-14 Yahoo Finance: COHR · GEO Group, Xerox, Jabil, Coherent, and TTM Technologies Stocks Trade Down, What You Need To Know
2026-10-13 Business Wire AI · Adani Enterprises, Jabil Sign MoU for 50:50 Data Center Hardware Joint Venture
2026-10-12 Yahoo Finance: FLEX · Can Jabil's Next-Generation Automotive Portfolio Drive Future Growth?
2026-10-09 Yahoo Finance: JBL · Jabil (JBL): 3 Reasons We Love This Stock
2026-10-08 Yahoo Finance: FLEX · Jabil's FY27 AI Revenue Surge Could Redefine Its Growth Story in 2027
2026-10-08 Yahoo Finance: CLS · Is Jabil a Buy After AI Growth as Valuation Stays Above Its Median?
2026-10-07 Yahoo Finance: JBL · Is Jabil (JBL) Stock Undervalued Right Now?
2026-10-05 Yahoo Finance: CLS · Should JBL Stock Be in Your Portfolio Post Solid Q4 Earnings?
2026-10-04 Yahoo Finance: JBL · What Is the Market Really Paying for Jabil’s (JBL) Growth?
2026-10-02 Yahoo Finance: CLS · Buy Jabil (JBL) Stock as AI Infrastructure Demand Fuels Strong Q4 Results?
2026-10-01 Yahoo Finance: JBL · JBL Q3 Deep Dive: AI Infrastructure, Asset-Light Model, and Margin Expansion in Focus
2026-10-01 Yahoo Finance: JBL · Jabil's Fiscal 2027 Outlook Leaves Room for Upside, UBS Says
2026-10-01 Yahoo Finance: JBL · Jabil (JBL) is an Incredible Growth Stock: 3 Reasons Why
2026-10-01 Yahoo Finance: JBL · Automotive and Industrial Demand Recovery Fuels Jabil’s (JBL) Ongoing Momentum
2026-10-01 Yahoo Finance: JBL · Jabil’s Double-Beat and Raise Is a Signal That This Rally Will Continue
影響 = 公司顯著度層級（高/中由圖譜中心度與規模自動判定；低僅用於人工整理的次要事件），並非對波動幅度的預測。
| 日期 | 類型 | 事件 | 影響 |
|---|---|---|---|
| 2026-12-16 | 財報 | Jabil earnings (estimated) — Date not yet announced — consensus estimate. 預估 | 中 |
| 日期 | 事件 | 影響 | 結果 |
|---|---|---|---|
| 2026-09-30 | Jabil earnings 已確認 | 中 | 每股盈餘優於預期 · +4.5% |
| 2026-06-17 | Jabil results release 已確認 | 中 | 結果待定 |
