Is Jabil a Buy After AI Growth as Valuation Stays Above Its Median?

Jabil (JBL) is guiding for fiscal 2027 revenues of $44.5 billion, up 24% year over year, with core EPS of $17.55, up 34%. AI-related revenues are the engine, surging 54% to $22.1 billion.

The stock trades at 17.2X forward earnings. That sits below industry averages but above JBL's five-year median of 13.8X, a premium of roughly 25% to its own history. Interpretation: the market is already paying up for the AI ramp, though not at a sector-level multiple.

Growth outpacing revenue is the notable detail. EPS rising 34% against 24% revenue growth points to margin improvement, which supports the premium multiple. Interpretation: the earnings leverage is what justifies paying above the historical median rather than the top-line figure alone.

Risks are specific. JBL's growth leans on concentration in large customer programs, and demand outside infrastructure is uneven. Interpretation: with AI revenues at $22.1 billion, about half of the $44.5 billion projection, a slip in a few big programs would hit both growth and the multiple.

Peers CLS and PLXS offer comparison points for investors weighing the electronics manufacturing services group, though the source supplies no valuation figures for either.