AI Takeaway
JBL delivered a strong Q2 FY2026 with revenue surging 23.1% YoY to $8.28B and net income nearly doubling to $223M, driven by robust top-line growth and meaningful margin expansion.
Revenue
$8.28B
++23.10% YoY
EPS (Basic)
$2.10
++96.26% YoY
Gross Margin
9.0%
++0.45% YoY
Operating Income
$374M
++52.65% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-Q filing
Revenue grew 23.1% YoY to $8.28B in Q2 FY2026, up from $6.73B in the prior-year period, reflecting broad-based demand strength and continued business momentum.
Source: Source: 10-Q Income Statement
Operating income surged 52.7% YoY to $374M, with operating margin expanding approximately 90 basis points to 4.5%, demonstrating that revenue growth is translating into disproportionately higher profitability.
Source: Source: 10-Q Income Statement
Net income rose 90.6% YoY to $223M, and diluted EPS jumped 96.2% to $2.08 from $1.06, indicating strong bottom-line leverage and the positive impact of share repurchases reducing the share count.
Source: Source: 10-Q Income Statement
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Upgrade to unlockJBL's debt-to-equity ratio stands at an elevated 14.3x, and long-term debt increased 34.4% YoY to $3.88B. This high leverage amplifies financial risk, particularly in a rising interest rate environment, and limits financial flexibility.
Source: Source: 10-Q Balance Sheet
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Upgrade to unlockReported EPS of $2.69 versus the $2.53 analyst consensus — a +6.2% beat for Q2 FY2026.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $8.28B | $6.73B | +23.10% |
Cost of Revenue | $7.54B | $6.15B | +22.50% |
Gross Profit | $746M | $576M | +29.51% |
Operating Income | $374M | $245M | +52.65% |
Net Income | $223M | $117M | +90.60% |
EPS (Basic) | $2.10 | $1.07 | +96.26% |
EPS (Diluted) | $2.08 | $1.06 | +96.23% |
R&D Expense | $7M | $7M | 0.00% |
SG&A Expense | $329M | $256M | +28.52% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $20.63B | $17.4B | +18.58% |
Current Assets | $15.01B | $12.61B | +18.99% |
Total Liabilities | $19.28B | $16.04B | +20.21% |
Current Liabilities | $14.81B | $12.31B | +20.27% |
Stockholders' Equity | $1.34B | $1.36B | -1.03% |
Cash & Equivalents | $1.83B | $1.59B | +14.95% |
Long-Term Debt | $3.88B | $2.88B | +34.44% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash FlowYTD | $734M | $646M | +13.62% |
Investing Cash FlowYTD | $-963M | $-503M | -91.45% |
Financing Cash FlowYTD | $120M | $-746M | +116.09% |
Dividends PaidYTD | $18M | $19M | -5.26% |
Share BuybacksYTD | $600M | $636M | -5.66% |
D&AYTD | $449M | $373M | +20.38% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Gross Margin | 9.0% | 8.6% | +0.45% |
Operating Margin | 4.5% | 3.6% | +0.87% |
Net Margin | 2.7% | — | — |
ROE | 16.6% | — | — |
ROA | 1.1% | — | — |
Current Ratio | $1.013 | — | — |
Debt to Equity | $14.344 | — | — |
JBL delivered strong Q3 FY2026 results with revenue rising 11.8% YoY to $8.75B and net income surging 23.9% to $275M, driven by gross margin expansion to 9.5%, though leverage remains elevated with a debt-to-equity ratio of 17.0x.
JBL delivered strong Q1 FY2026 results with revenue surging 18.7% YoY to $8.3B and net income jumping 46% to $146M, driven by robust top-line growth and improved operating leverage, though the balance sheet shows elevated leverage and a current ratio below 1.
Other companies in Electronic Manufacturing Services
JBL delivered a strong Q2 FY2026, with revenue rising 23.1% YoY to $8.28B and net income nearly doubling to $223M. Diluted EPS jumped 96.2% to $2.08, and operating margin expanded to 4.5% from 3.6% in the prior year.
JBL's revenue grew 23.1% YoY to $8.28B in Q2 FY2026, reflecting strong demand for its electronics manufacturing services. While specific segment details were not available in the provided data, the broad-based growth is evident from the significant increase in both revenue and gross profit.
Key risks include JBL's very high financial leverage, with a debt-to-equity ratio of 14.3x and long-term debt rising 34.4% YoY to $3.88B. Additionally, the company operates with thin margins (net margin ~2.7%) and a tight current ratio of 1.01x, leaving limited buffer against operational or financial disruptions.
Yes, JBL generated $734M in YTD operating cash flow through Q2 FY2026, up 13.6% from $646M in the same prior-year period. However, YTD investing outflows of -$963M exceeded operating cash flow, suggesting significant capital investment activity that may be pressuring near-term free cash flow.
JBL's balance sheet shows total assets of $20.6B supported by only $1.34B in stockholders' equity, reflecting very high leverage with a debt-to-equity ratio of 14.3x. Cash and equivalents stood at $1.83B, while long-term debt increased to $3.88B, up 34.4% YoY, indicating increased borrowing to fund growth initiatives.