Kimball Electronics, Inc.
Kimball Electronics, Inc. is a U.S.-based contract manufacturer that builds durable electronic assemblies and related products for customers in automotive, medical, and industrial markets. The company also provides engineering, supply chain, and CMO services for medical disposables, drug delivery devices, and precision molded plastics, using a globally integrated manufacturing footprint.
Fiscal year 2026 · change from previous year
Development 2021–2026
Business
Share of revenueContract build-to-print electronic assemblies and related manufacturing services for customer-designed products.
CMO services for medical disposables, drug delivery devices, and regulated medical programs.
Molded plastic components and subassemblies used in medical and industrial applications.
Design-for-manufacturability input, sourcing, procurement, and program support across the product life cycle.
Products
Reported · share of revenue- Automotive45.9 %
- Medical28.8 %
- Industrial25.3 %
Source: 10-K FY2026, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Kimball Electronics sells primarily to OEMs that outsource complex, quality-critical production rather than build it in-house. Its customer base is concentrated in automotive, medical, and industrial end markets, where reliability, regulatory compliance, and supply continuity matter more than lowest-cost assembly. The company’s CRM model and global footprint are designed to support long-term programs that often span multiple plants and regions.
Buy durable electronics and assemblies for vehicle programs; they value quality, reliability, and global supply continuity.
Buy regulated assemblies, disposables, and CMO services for devices that require clean room, sterilization, and traceability controls.
Buy electronics and subassemblies for industrial applications where cost, lead time, and dependable delivery matter.
Buy precision molded plastics and integrated manufacturing services for recurring healthcare programs.
Strategy
The company is focused on profitable growth by supporting customers’ global expansion with a broader manufacturing solutions package. Near term, it is sharpening its portfolio through restructuring, divestitures, and facility rationalization while investing in new capabilities and capacity where demand is strongest. It is also emphasizing working-capital discipline and operational consistency across its global plants.
Divestitures and facility closures reduce complexity and align capacity with demand.
Competitive EMS pricing and program start-up dilution pressure margins, so cost discipline is essential.
New capabilities help win more complex work and deepen customer relationships over the product life cycle.
Geography
2025Kimball Electronics manufactures in the United States, China, Mexico, Poland, Romania, and Thailand, giving it a multi-continent production base for customer programs. The company is headquartered in Jasper, Indiana, and has been shifting work toward North America, especially Mexico and Jasper, as it streamlines operations and exits lower-priority facilities such as Tampa. This footprint matters because customers often require regional production, tariff management, and supply-chain resilience.
Share of the revenue the company reports by geography.
Risks
Kimball Electronics is exposed to customer concentration, program loss, and the cyclical nature of EMS demand, where new program ramps often dilute margins before they mature. It also faces operational risks from supply-chain volatility, tariffs, foreign exchange, cybersecurity, and regulatory requirements in medical and automotive programs. Because the business depends on global manufacturing execution, facility transitions and underutilized capacity can affect both cost structure and service levels.
- Customer and program concentrationImpact: HighLikelihood: High
Revenue depends on a limited number of OEM programs, so a loss or reduction can materially hurt sales and profitability.
Exposure: Major automotive program loss was cited as a driver of lower sales.
- Margin pressure from EMS pricing dynamicsImpact: HighLikelihood: Medium
Competitive bidding and life-cycle price erosion can compress margins, especially early in a program.
Exposure - Supply chain and component availabilityImpact: HighLikelihood: Medium
The company must source components globally, and shortages or cost spikes can delay production and raise working capital needs.
Exposure: Inventory levels and customer advance payments fluctuate with program ramps.
- Cybersecurity and IT disruptionImpact: MediumLikelihood: Medium
Manufacturing, data management, and customer operations rely on IT systems that can be targeted by attacks or outages.
Exposure: Sensitive customer and employee data plus operational systems.
- Restructuring and facility transition executionImpact: Medium
Closing or moving production can disrupt customer programs and create one-time costs if not managed well.
Exposure: Tampa shutdown and transfer of work to other plants.
Accounting
Judgemental itemsMost manufacturing services are recognized as performed, so estimates of progress and enforceable rights affect revenue timing.
Impact: Can shift revenue and gross margin between periods
Component availability and program changes can leave excess stock that must be reserved.
Impact: Affects cost of sales and working capital
Plant exits and divestitures require severance, exit, and asset-related accounting judgments.
Impact: Can create non-recurring operating expense
EMS programs often involve progress billings and advance payments tied to inventory purchases.
Impact: Affects cash conversion and balance sheet presentation
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Last updated: 24/09/2026