JBL
Jabil Inc.
Is JBL Halal?
Diversified electronics manufacturing services and supply-chain solutions — permissible contract-manufacturing business.
What You Should Know
Jabil is a US electronics manufacturing services (EMS) and supply-chain-solutions provider organized into two reporting segments: Intelligent Infrastructure (cloud and data-center infrastructure, networking and storage hardware, semiconductor capital equipment, photonics, automated test equipment) and Regulated Industries (automotive and transportation, healthcare and medical devices, packaging, and renewables and energy infrastructure). Jabil designs, manufactures, and provides aftermarket services for OEM customers across these end markets, with a global manufacturing footprint of more than 100 plants across 30 countries. Contract electronics manufacturing for general-purpose end markets is unambiguously permissible at the activity level — Jabil's services are general-purpose engineering, design, and manufacturing rather than the manufacture of weapons systems, alcohol, tobacco, or financial products. Jabil operates a global-industrial balance sheet with manageable term-loan debt and revolver capacity, and the debt-to-market-cap ratio has historically sat near or below the 33% Sharia threshold across the cycle. The qualitative screen passes cleanly across major Sharia advisory boards. Muslim investors should verify the current financial ratios at their preferred screening platform.
⚠️ Concerns
- •Latest total-assets debt screen passes at 14.18%; market-cap denominator is not calculated without a licensed historical series
- •Some end-market exposure to aerospace and defense customers via the Intelligent Infrastructure segment (general-purpose EMS services, not weapons systems)
- •Customer concentration with a small group of large OEM customers, including a meaningful share from a single large consumer-electronics customer historically
- •Cyclical exposure to the consumer-electronics and capital-equipment cycle (business-quality consideration rather than Sharia screen concern)
- •Gross interest income is not separately disclosed
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-05-31; calculated 2026-07-13.
3,378 / 23,819
1,360 / 23,819
6,833 / 23,819
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 14.18%, liquidity/assets is 5.71% and receivables plus cash/assets is 28.68%; gross interest income and screened business revenue remain unavailable.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets, liquidity/assets and receivables plus cash/assets are below the examined total-assets limits; this is not an index-membership claim and income disclosure remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and identifiable conventional cash and instruments are below the examined Malaysia SAC limits; this is not an official SAC classification.
- Financial
- Not calculated
- Overall
- Not calculated
No licensed historical market-cap series is stored.
Business-activity disclosure
Jabil provides electronics manufacturing, engineering and supply-chain services across cloud infrastructure, networking, semiconductor equipment, automotive, healthcare, packaging and renewables. General-purpose contract manufacturing is generally permissible, with defense end-market and customer-concentration context.
Limitation: The filing does not separately disclose gross interest income or a universal prohibited-activity revenue numerator.
Purification
Gross interest income is not separately quantified; ZakatInvest does not assert a purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Jabil's May 31, 2026 Form 10-Q.
- Interest-bearing debt is current debt of $499 million plus noncurrent notes payable and long-term debt of approximately $2,879 million.
- Cash is $1,360 million and accounts receivable are $5,473 million.
- Quarterly net revenue is $8,751 million. Interest expense, net is $51 million; gross interest income is not separately disclosed.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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