CLS vs JBL: Celestica and Jabil Circuit compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Celestica is the larger company, worth $41.1B, about 1.4 times Jabil Circuit.
- Celestica grew revenue faster over the last year (+62.4% vs +11.8%).
- Celestica keeps more of each dollar of revenue as operating profit (8.8% vs 4.3%).
- On earnings, Jabil Circuit is the cheaper stock (38.7x vs 43.3x).
- Celestica's price assumes faster free cash flow growth: about 25% a year, against 8% for Jabil Circuit (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CLS | JBL |
|---|---|---|
| Market cap | $41.1B | $30.3B |
| Share price | $371.57 | $306.28 |
| Revenue (last fiscal year) | $12.4B | $29.8B |
| Free cash flow (last fiscal year) | $458M | $1.2B |
| Revenue growth, last year | +62.4% | +11.8% |
| Revenue growth per year, last 5 fiscal years | +21.8% | +0.4% |
| Operating margin | 8.8% | 4.3% |
| Net margin | 7.2% | 2.6% |
| Return on equity | 45.0% | 65.2% |
| P/E (trailing) | 43.3x | 38.7x |
| Price / free cash flow | 88.2x | 25.8x |
| EV / EBITDA | 28.1x | 18.9x |
| FCF growth the price implies | 24.9% | 8.3% |
| Dividend yield | — | 0.10% |
| Debt / equity | 2.95x | 17.0x |
| Fundamental grade | C | C |
| Superinvestors holding it | 5 | 5 |
| Insider purchases, last 12 months | 5 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Celestica
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $5.6B | $175M | 3.0% |
| 2022 | $7.2B | $102M | 4.0% |
| 2023 | $8.0B | $201M | 4.2% |
| 2024 | $9.6B | $303M | 6.2% |
| 2025 | $12.4B | $458M | 8.4% |
Jabil Circuit
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $29.3B | $274M | 3.6% |
| 2022 | $33.5B | $266M | 4.2% |
| 2023 | $34.7B | $704M | 4.4% |
| 2024 | $28.9B | $932M | 7.0% |
| 2025 | $29.8B | $1.2B | 4.0% |
Where the revenue comes from
Celestica · by segments, 2025
CCS$9.2B74%
ATS$3.2B26%
Jabil Circuit · by segments, 2025
Intelligent Infrastructure$12.3B41%
Regulated Industries$11.9B40%
Connected Living and Digital Commerce$5.6B19%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open CLS in InvestinglyQuestions
Which is bigger, Celestica or Jabil Circuit?
Celestica (CLS), at $41.1B against $30.3B.
Is CLS or JBL cheaper?
By trailing P/E, Jabil Circuit (38.7x) is cheaper than Celestica (43.3x). A lower multiple can also mean the market expects less growth.
Which grows faster, CLS or JBL?
Celestica: revenue grew +62.4% over the last year, against +11.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.