Jabil is a contract manufacturer that designs, builds, and ships products on behalf of large OEMs and technology companies across a wide range of industries. Jabil doesn't sell products under its own brand — it manufactures products that its customers sell under theirs. Key end markets include cloud and data center infrastructure (AI servers, integrated racks, power and cooling), semiconductor capital equipment, healthcare devices and drug delivery systems, automotive electronics, and warehouse automation. Jabil operates through three segments: Intelligent Infrastructure (~47% of revenue), which serves AI and digital infrastructure; Regulated Industries (~39%), covering healthcare, automotive, and energy; and Connected Living & Digital Commerce (~14%), which Jabil is intentionally shrinking by pruning legacy consumer programs in favor of automation and advanced technology work. Jabil's business model involves charging customers for labor, materials, overhead, and services — a large share of revenue is pass-through materials cost, so margins are modest, targeting 6%+ core operating margins. Jabil is deliberately shifting its portfolio toward more engineering-intensive programs, which carry better margins than simple assembly. Jabil manages over 38,000 global suppliers, giving it procurement scale that individual customers can't replicate. Its five largest customers account for roughly 36% of revenue. Jabil's capital allocation strategy targets returning roughly 80% of free cash flow to shareholders via buybacks, and the company pursues small, capability-driven acquisitions to fill gaps in its manufacturing portfolio.