Jabil vs Celestica 2026: Two Paths to ROIC Excellence in AI Infrastructure
Both Jabil (29% ROIC) and Celestica (39% ROIC) rank among the best capital allocators in EMS. But DuPont decomposition reveals they get there through opposite mechanisms — JBL wins on turnover (13x), CLS wins on margin (10.2%). The counter-intuitive finding: CLS has better metrics AND faster growth, yet trades at an apparent discount. Here's what the data reveals.