Jabil vs Sanmina
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KIRA’s take AI analyst
I put Jabil and Sanmina side by side, using each one’s latest annual report. Here is what stands out:
- Jabil is the larger business, with $36.0B of revenue in fiscal 2026 against $8.1B for Sanmina, about 4.4 times as much.
- Jabil grew revenue faster (20.6%, against 7.4%).
- Sanmina turned more of its sales into free cash flow (5.8% FCF margin, against 3.8%).
- Jabil earned a higher return on the capital invested in it (39.3%, against 14.2%).
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Jabil
JBL
7/11
Revenue growth5-year growthGross marginOperating marginReturn on capitalReturn on equityShare count change
Sanmina
SANM
3/11
Net marginFCF marginNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | JBL FY26 | SANM FY25 |
|---|---|---|
| Size | ||
| Market cap | $29.5B | $8.9B |
| Revenue | $36.0B | $8.1B |
| Free cash flow | $1.4B | $473M |
| Net income | $1.0B | $246M |
| Growth | ||
| Revenue growth | 20.6% | 7.4% |
| 5-year growth | 4.2% | 3.2% |
| Share count change | −3.6% | −3.2% |
| Profitability | ||
| Gross margin | 9.2% | 8.8% |
| Operating margin | 4.7% | 4.4% |
| Net margin | 2.9% | 3.0% |
| FCF margin | 3.8% | 5.8% |
| Return on capital | 39.3% | 14.2% |
| Return on equity | 66.7% | 10.0% |
| Balance sheet | ||
| Net debt | $2.0B | −$643M |
| Net debt / EBITDA | 0.8x | −1.4x |
| Dividends and buybacks | $1.1B | $0.0M |
| Valuation & quality | ||
| P/E | — | 28.9x |
| Piotroski F-score | 8 | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.