Jabil stock forecast 2027–2029
MyStockButler's October 2026 analysis: Jabil's weighted forecast reaches $435.60 in October 2027 and $548.38 in October 2029. It hinges on added capacity producing shipments with sound margins and collected cash.
Where could Jabil's shares be by 2029?
The probability-weighted path reaches $435.60 in October 2027 and $478.39 in October 2028. By October 2029, it reaches $548.38. Those values represent returns of 57% and 73%, including dividends. The October 2029 return is 98%.
| Case | Probability | October 2027 | October 2028 | October 2029 |
|---|---|---|---|---|
| Bear | 25 % | 288.15 (+4 %) | 256.16 (-7 %) | 301.13 (+9 %) |
| Base | 55 % | 466.70 (+69 %) | 518.71 (+88 %) | 576.45 (+108 %) |
| Bull | 20 % | 534.42 (+93 %) | 645.29 (+133 %) | 780.24 (+182 %) |
| Weighted | 100 % | 435.60 (+57 %) | 478.39 (+73 %) | 548.38 (+98 %) |
What has to go right for Jabil's forecast?
The forecast assigns 25% to the bear case and 55% to the base case. The bull case carries 20%. The first checkpoint is the November 2026 quarter: added capacity must produce shipments with sound margins and collected cash. North Carolina’s original mid-calendar 2026 production target has passed; commercial production and utilization now matter more than planned capacity. By August 2027, Jabil must reach its revenue outlook with reliable production, controlled inventory and collected cash. India requires definitive agreements, approvals and disclosed funding commitments.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Normal operating profit | 2,715 (2,397 / 2,784) | 2,985 (2,243 / 3,403) | 3,279 (2,320 / 4,176) |
| Shares (millions) | 101 (103 / 101) | 98.00 (99.40 / 98.10) | 94.60 (96.30 / 95.30) |
| Dividends per share | 0.32 (0.32 / 0.32) | 0.32 (0.32 / 0.32) | 0.32 (0.32 / 0.32) |
| Enterprise value to normal operating profit | 18.00 (13.00 / 20.00) | 17.50 (12.00 / 19.00) | 17.00 (13.00 / 18.00) |
| Net debt | 1,547 (1,597 / 1,597) | 1,404 (1,454 / 1,354) | 1,211 (1,161 / 811) |
How much cash does Jabil really make?
Stock compensation requires a second economic adjustment. Shares issued to employees do not consume current cash, but they transfer value to employees. Subtracting that cost gives a stricter analytical measure of cash available to shareholders.
| Aug 2026 | Aug 2025 | |
|---|---|---|
| Cash from operations | 2,002 | 1,640 |
| − Capital spending | 628 | 468 |
| = Free cash flow | 1,374 | 1,172 |
| − Stock pay | 140 | 107 |
| = Real free cash flow | 1,234 | 1,065 |
What this means. The company's own free cash flow is higher because it adds back money from selling equipment and buildings and related advances, while our count does not.
What does an investor pay for Jabil today?
The price-to-earnings ratio, or P/E, compares a share price with earnings per share. Jabil’s trailing P/E uses FY2026 earnings already reported, while its forward P/E uses forecast FY2027 earnings. The forward measure looks much lower because the forecast assumes a sharp rise in profit.