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Jerash Holdings (us), Inc. (JRSH) stock

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NASDAQ: JRSH Nasdaq Apparel, Accessories & Luxury Goods Next results ~November 10, 2026

B Fundamentals grade

Jerash Holdings (us), Inc. is a US-listed company in the apparel, accessories & luxury goods industry. Its financial year ends in March.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$2.1

Cash-flow model

Base case. Range ~$1.7–$2.6 across our lower- and higher-growth cases (10.3%–20.3% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 66% below it.

Price used: $6.08, November 2, 2026

Jerash Holdings (us), Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds17 adding, 7 cuttingOf 6 active managers that changed their stake, 4 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Jerash Holdings (us) files

Where Jerash stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $177m, up 22.4% on a year earlier, faster than the 14.0% growth a quarter earlier. That growth ranks 2 of 20 among the apparel, accessories & luxury goods companies we cover. Free-cash-flow margin rose to 3.8% from -2.9% a year earlier. Operating margin widened to 4.5% from 2.2%. The diluted share count is up 7.5% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 5 of our 6 financial-health checks. Our cash-flow model value is $1.99 a share, against a share price of $6.08.

Source: 10-Q filed August 12, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

Jerash Holdings (us), Inc.'s trailing-twelve-month revenue grew 22.4% year on year, with a free-cash-flow margin of 3.8%. Where it stands out: revenue growth of 22.4% ranks 3 of 29 apparel, accessories & luxury goods companies we cover. Where it lags: gross margin of 16.4% ranks 25 of 27 apparel, accessories & luxury goods companies we cover.

Our discounted-cash-flow model values the business at ~$2.1 per share in the base case (~$1.7–$2.6 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 22.4% (+8.4pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 22.4% over the last 12 months, against a median of 1.6% for apparel, accessories & luxury goods companies we cover.
  • Growth speeding up. The growth rate is 8.4 points higher than a quarter earlier.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 43.2% over 90 days.

Things to watch

  • Results due soon. Results are expected around 11 November; the share price can move sharply on the day.
  • Priced above our value. The share price of $6.08 is 66% above our value per share of $2.
  • Share dilution. Diluted shares rose 7.5% in a year.
  • Below peers: gross margin. Gross margin of 16.4% ranks 25 of 27 apparel, accessories & luxury goods companies we cover (median 52.5%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2027 Q1

Filed August 12, 2026
Earnings per share
$0.13 against an average estimate of $0.12: beat by 8.3%
Revenue
$50m, up 26.7% on a year earlier
Share reaction
+6.6% in the first session after the results on August 10, 2026, against -0.3% for the S&P 500
Guidance given
revenue $49m to $51m (fiscal 2027 second quarter); gross margin 14% to 15% (fiscal 2027 second quarter)
Next report
November 10, 2026; average EPS estimate $0.11

Jerash Holdings (us)'s figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.4%
  • 1 week+2.2%
  • 1 month-1.1%
  • This year+107.6%
  • 1 year+89.7%
  • 5 years+13.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$177M
Operating margin
4.5%
Net margin
2.8%
EPS (TTM, diluted)
$0.37

Growth

Revenue growth
+22.4%
Change in growth rate
+8.4 pts
Share count change
+7.5%

Cash

Free cash flow (TTM)
$6.7M
FCF margin
3.8%
Stock pay % of revenue
0.5%

Earnings

Last results
August 10, 2026
Next results (est.)
November 11, 2026

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Shareholder vote
  3. Results
  4. Guidance
  5. Announcement
  6. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Jerash Holdings (us), Inc. valuation models and calculator

What the price is pricing in

The share price implies about 38.9% a year of cash-flow growth for five years.That is faster than the 4.3% a year revenue growth Jerash Holdings (us) has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in38.9%
  • Last 12 months22.4%
  • 3 years a year8.3%
  • 5 years a year4.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($6.04, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$2.1
Price used
$6.04close November 3, 2026
Implied change
▼ 66%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Jerash Holdings (us), Inc.'s free cash flow after stock-based pay with after-tax interest added back ($594,256, FY2027 Q1 TTM), growing 15.5% and 14.3% in the next two years (forecasts, guidance and its record), then back to 15.3% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$1.7–~$2.6 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Jerash Holdings (us), Inc.'s free cash flow after stock-based pay ( $594,256, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Jerash Holdings (us), Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.89 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$2.1 ~$1.7–$2.6 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$5.5 ~$4.9–$7.9 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$2.8 ~$1.9–$3.9 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$2.0 ~$1.8–$2.2 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$2.9 ~$2.0–$5.5 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Jerash Holdings (us), Inc. with Apparel, Accessories & Luxury Goods in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −22%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $1$1$2$2$3$3
8.5% $1$1$1$2$2$3
10% $1$1$1$1$2$2

Valuation multiples over time Market data may be delayed

At fiscal year end 20192020202120222023202420252026Now
Share price$5.22$3.71$4.78$5.01$3.82$2.64$3.12$2.82$6.08
Market value$59m$42m$54m$60m$48m$32m$38m$37m$81m
+ Net debt (− = net cash)−$27m−$26m−$21m−$25m−$18m−$12m−$9m−$3m−$6m
Enterprise value$33m$16m$34m$35m$31m$20m$30m$34m$75m
Multiples
Price / sales 0.7x0.5x0.6x0.4x0.4x0.3x0.3x0.2x0.5x
Price / earnings 11.6x6.6x13.0x7.5x20.0x——10.5x16.6x
Price / free cash flow 6.6x19.0x—9.9x4.8x26.1x93.0x—12.2x
EV / EBITDA 4.3x1.8x4.8x2.8x4.5x10.7x15.5x5.0x8.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

37 /100

Weak moat

How hard Jerash Holdings (us)'s competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 18 / 20

    Cash operating profit has been a median 13.4% of total assets over 9 years.

  • Pricing power 6 / 20

    Gross margin has been a median 18.4%, moving by 4.2 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 6.8%; its worst year was -2.1%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 5 of 9 years, at a median 3.8% of revenue.

  • Discipline 11 / 20

    The diluted share count rose 17.9% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (42 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026, before the open. Analysts expect revenue of $50m and EPS of $0.11 (range $0.11 to $0.11) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.49 +82% $190m +14%
Next $0.63 +29% $204m +8%

Next year's EPS estimate has moved +43.2% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +28.9% on 90 days ago. In the last 30 days, 1 analyst raised Jerash Holdings (us), Inc.'s forecast and 0 cut it.

Consensus EPS forecast Jerash Holdings (us), Inc., last 90 days
$0.30 $0.40 $0.50 $0.60 $0.70 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.38 Current fiscal year, 60 days ago: $0.38 Current fiscal year, 30 days ago: $0.46 Current fiscal year, 7 days ago: $0.46 Current fiscal year, Now: $0.49 $0.49 Next fiscal year, 90 days ago: $0.44 Next fiscal year, 60 days ago: $0.44 Next fiscal year, 30 days ago: $0.53 Next fiscal year, 7 days ago: $0.53 Next fiscal year, Now: $0.63 $0.63

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.38$0.44
60 days ago $0.38$0.44
30 days ago $0.46$0.53
7 days ago $0.46$0.53
Now $0.49$0.63

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.12 $0.13 +8.3%
Mar 2026 $0.00 $0.12 0.0%
Dec 2025 $0.05 $0.09 +80.0%
Sept 2025 $0.14 $0.04 −71.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 10, 2026
  • Revenue fiscal 2027 second quarter $49m to $51m
    “Revenue for the fiscal 2027 second quarter is expected to be approximately $49 million-$51 million, subject to logistics efficiency amid geopolitical uncertainties.” source
  • Gross margin fiscal 2027 second quarter 14% to 15%
    “Gross margin goal for fiscal 2027 second quarter is expected to be approximately 14-15 percent, taking into effect of increased transportation costs for raw material imports.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Jerash Holdings (us), Inc.'s revenue by +15.5% next year and +14.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+9.3%, weight 25%) , management guidance (+19.1%, weight 45%) and the company's own record (+15.3%, weight 30%) . How the weights are set.

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202622

Counts of recommendations published by analysts covering Jerash Holdings (us), Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
1.1%
of tradable shares
Days to cover
0.76
at average volume
Short interest, 1 month
+108%
to October 15, 2026
Held by institutions
13%
of shares
Held by insiders
49.9%
of shares
Employees
6,600
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +89.7%

$3.20 on October 31, 2025 to $6.08

ThenNowEffect
Revenue (last 12 months) $145m $177m +22.4%
Net margin 0.6% 2.8% +390.8%
P/E multiple 48.8x 16.6x −66.0%
Share count 12m 13m −7.0%

Biggest factor: net margin.

Last 3 years +126.9%

$2.68 on November 3, 2023 to $6.08

ThenNowEffect
Revenue (last 12 months) $139m $177m +26.9%
Net margin 0.9% 2.8% +223.1%
P/E multiple 28.3x 16.6x −41.4%
Share count 13m 13m −5.5%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
JRSH+14%−38%−16%+17%−5%+108%
Industry peers (median)+19%−36%+2%−6%−12%+12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
JRSH58%33%42%58%50%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
JRSH−22%−47%−41%−11%−25%−17%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since May 4, 2018: 66% from May 9, 2018 to November 29, 2023. Getting back needed a 195% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$2.78 – $6.47
From 52-week high
−6.0%
vs 50-day average
+4.8%
vs 200-day average
+45.2%
Volatility (1 year)
39%
Beta vs S&P 500
0.63

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
9 up, 3 down
typical move ±6.1%
After a week
7 up, 5 down
typical move ±7.7%
After a month
8 up, 4 down
typical move ±7.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 10, 2026 +6.6% −0.3% +13.9% +8.0%
June 15, 2026 +21.2% +1.2% +36.4% +36.4%
February 9, 2026 +13.7% +0.2% +9.2% +0.9%
November 12, 2025 −1.5% −1.6% −2.0% −5.3%
August 12, 2025 +3.0% +1.4% +2.4% +6.2%
June 23, 2025 +1.2% +2.1% −2.1% +2.7%
February 11, 2025 +1.6% −0.2% +3.6% −0.9%
November 12, 2024 +11.2% −0.3% +9.7% +17.1%
August 13, 2024 −2.2% +2.0% 0.0% +4.4%
June 27, 2024 +1.3% −0.2% −2.0% +0.5%
February 8, 2024 +4.2% +0.6% +3.9% −2.1%
November 13, 2023 −6.1% +1.8% −7.6% −8.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Jerash Holdings (us), Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Jerash Holdings (us), Inc.
$100M $120M $140M $160M $180M FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $134.9M Revenue (TTM), FY24 Q3: $119.4M Revenue (TTM), FY24 Q4: $117.2M Revenue (TTM), FY25 Q1: $123.4M Revenue (TTM), FY25 Q2: $130.3M Revenue (TTM), FY25 Q3: $138.1M Revenue (TTM), FY25 Q4: $145.8M Revenue (TTM), FY26 Q1: $144.5M Revenue (TTM), FY26 Q2: $146.2M Revenue (TTM), FY26 Q3: $152.6M Revenue (TTM), FY26 Q4: $166.3M Revenue (TTM), FY27 Q1: $176.9M $176.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $134.9M
FY24 Q3 $119.4M
FY24 Q4 $117.2M
FY25 Q1 $123.4M
FY25 Q2 $130.3M
FY25 Q3 $138.1M
FY25 Q4 $145.8M
FY26 Q1 $144.5M
FY26 Q2 $146.2M
FY26 Q3 $152.6M
FY26 Q4 $166.3M
FY27 Q1 $176.9M
Revenue growth, TTM YoY Jerash Holdings (us), Inc.
-20% 0% 20% 40% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: -3.0% Revenue growth, TTM YoY, FY24 Q3: -17.8% Revenue growth, TTM YoY, FY24 Q4: -15.1% Revenue growth, TTM YoY, FY25 Q1: -11.5% Revenue growth, TTM YoY, FY25 Q2: -3.4% Revenue growth, TTM YoY, FY25 Q3: 15.7% Revenue growth, TTM YoY, FY25 Q4: 24.4% Revenue growth, TTM YoY, FY26 Q1: 17.1% Revenue growth, TTM YoY, FY26 Q2: 12.3% Revenue growth, TTM YoY, FY26 Q3: 10.5% Revenue growth, TTM YoY, FY26 Q4: 14.0% Revenue growth, TTM YoY, FY27 Q1: 22.4% 22.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 -3.0%
FY24 Q3 -17.8%
FY24 Q4 -15.1%
FY25 Q1 -11.5%
FY25 Q2 -3.4%
FY25 Q3 15.7%
FY25 Q4 24.4%
FY26 Q1 17.1%
FY26 Q2 12.3%
FY26 Q3 10.5%
FY26 Q4 14.0%
FY27 Q1 22.4%
Operating margin (TTM) Jerash Holdings (us), Inc.
-4% -2% 0% 2% 4% 6% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 1.1% Operating margin (TTM), FY24 Q3: 0.4% Operating margin (TTM), FY24 Q4: -0.6% Operating margin (TTM), FY25 Q1: -2.1% Operating margin (TTM), FY25 Q2: -1.8% Operating margin (TTM), FY25 Q3: -1.5% Operating margin (TTM), FY25 Q4: 1.0% Operating margin (TTM), FY26 Q1: 2.2% Operating margin (TTM), FY26 Q2: 2.2% Operating margin (TTM), FY26 Q3: 2.9% Operating margin (TTM), FY26 Q4: 3.8% Operating margin (TTM), FY27 Q1: 4.5% 4.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 1.1%
FY24 Q3 0.4%
FY24 Q4 -0.6%
FY25 Q1 -2.1%
FY25 Q2 -1.8%
FY25 Q3 -1.5%
FY25 Q4 1.0%
FY26 Q1 2.2%
FY26 Q2 2.2%
FY26 Q3 2.9%
FY26 Q4 3.8%
FY27 Q1 4.5%
FCF margin (TTM) Jerash Holdings (us), Inc.
-5% 0% 5% 10% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 6.2% FCF margin (TTM), FY24 Q3: 6.6% FCF margin (TTM), FY24 Q4: 1.1% FCF margin (TTM), FY25 Q1: -0.9% FCF margin (TTM), FY25 Q2: -3.2% FCF margin (TTM), FY25 Q3: -5.0% FCF margin (TTM), FY25 Q4: 0.3% FCF margin (TTM), FY26 Q1: -2.9% FCF margin (TTM), FY26 Q2: -1.5% FCF margin (TTM), FY26 Q3: -1.9% FCF margin (TTM), FY26 Q4: -1.6% FCF margin (TTM), FY27 Q1: 3.8% 3.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 6.2%
FY24 Q3 6.6%
FY24 Q4 1.1%
FY25 Q1 -0.9%
FY25 Q2 -3.2%
FY25 Q3 -5.0%
FY25 Q4 0.3%
FY26 Q1 -2.9%
FY26 Q2 -1.5%
FY26 Q3 -1.9%
FY26 Q4 -1.6%
FY27 Q1 3.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Jerash Holdings (us) took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $166M
  2. Cost of revenue $139M · 83.9%
  3. Gross profit $26.8M · 16.1%
  4. Selling, general and admin $19.6M · 11.8%
  5. Other operating costs $904,171 · 0.5%
  6. Operating income $6.3M · 3.8%
  7. Income tax $1.1M · 0.7%
  8. Interest and other $1.7M · 1.0%
  9. Net income $3.5M · 2.1%

Shares of revenue. Source: Jerash Holdings (us)'s 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2017 Mar 2017 2018 Mar 2018 2019 Mar 2019 2020 Mar 2020 2021 Mar 2021 2022 Mar 2022 2023 Mar 2023 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026 LTM Jun 2026
Income
Revenue 62 69 85 93 90 143 138 117 146 166 177
Gross profit 15 18 19 18 16 27 22 17 22 27 29
EBITDA 12 13 8 9 7 13 7 2 2 7 8
Operating income 11 12 6 8 5 10 4 −1 1 6 8
Net income 11 10 5 6 4 8 2 −2 −1 4 5
Diluted EPS $1.22 $1.07 $0.45 $0.57 $0.37 $0.67 $0.19 −$0.16 −$0.07 $0.27 $0.37
Growth (year on year)
Revenue — +11.7% +22.6% +9.5% −3.0% +58.9% −3.7% −15.1% +24.4% +14.0% +22.4%
EBITDA — +8.6% −41.7% +20.7% −23.7% +80.4% −45.8% −72.6% — — +128.2%
Operating income — +10.6% −46.4% +20.7% −29.7% +94.7% −57.9% −115.1% — — +147.3%
Net income — −2.6% −50.9% +26.7% −35.9% +90.8% −69.4% — — — —
Diluted EPS — −12.3% −57.9% +26.7% −35.1% +81.1% −71.6% — — — —
Margins
Gross margin 24.8% 25.9% 22.1% 19.3% 17.7% 19.1% 15.8% 14.4% 15.3% 16.1% 16.4%
EBITDA margin 19.4% 18.8% 8.9% 9.9% 7.8% 8.8% 5.0% 1.6% 1.3% 4.1% 4.8%
Operating margin 17.2% 17.1% 7.5% 8.2% 6.0% 7.3% 3.2% −0.6% 1.0% 3.8% 4.5%
Net margin 17.2% 15.0% 6.0% 7.0% 4.6% 5.5% 1.8% −1.7% −0.6% 2.1% 2.8%
Free-cash-flow margin 11.6% 6.2% 10.6% 2.4% −2.6% 4.2% 7.3% 1.1% 0.3% −1.6% 3.8%
Cash flow
Cash from operations 8 5 10 7 −1 9 11 2 1 2 12
Capital spending 0 1 1 5 1 3 1 1 1 5 5
Free cash flow 7 4 9 2 −2 6 10 1 0 −3 7
Stock-based pay 0 0 4 0 0 1 0 1 2 1 1
Free cash flow after stock pay 7 4 5 2 −2 5 10 0 −1 −4 6
Balance sheet
Cash 4 9 27 26 21 25 18 12 13 11 14
Total debt 0 1 1 0 1 0 0 0 5 8 8
Net debt (negative = net cash) −4 −8 −27 −26 −21 −25 −18 −12 −9 −3 −6
Diluted shares 9m 10m 11m 11m 11m 12m 13m 12m 12m 13m 13m
Returned to shareholders
Dividends 5 0 1 2 2 2 2 2 2 3 3
Buybacks — — — — — — 1 — — — —
Total returned 5 0 1 2 2 2 4 2 2 3 3

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 6 checks passed · June 30, 2026
What it owns · $87m
Short-term assets $56mLonger-term assets $31m
What it owes, and who funded it · $87m
Short-term liabilities $18mLonger-term liabilities $3mShareholders' equity $66m
  • Short-term assets cover short-term liabilities $56m of assets due within a year against $18m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $56m short-term assets against $3m of longer-dated liabilities.
  • More cash than debt $14m of cash against $3m of debt.
  • Debt below 40% of shareholders' equity Debt is 4% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $12m of operating cash flow against $3m of debt.
  • Operating profit covers interest at least five times over Operating income of $8m against $2m of interest.

From Jerash Holdings (us), Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$2.5M
Returned to shareholders
38%
of free cash flow
Diluted share count
+7.5%
year over year
Total shareholder yield
3.3%
dividends 3.3% + buybacks 0.0% of market value
Dividend payout ratio
52%
of net income paid out
Sales & admin spending
11.3%
of revenue
Days sales outstanding
12 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in apparel, accessories & luxury goods
Last 12 months unless stated JRSH VRA VNCE BRLT UFI SGC Median
Revenue, last 12 months $177m $274m $315m $449m $531m $574m $1.5bn
Revenue growth, last 12 months 22.4% −1.7% 8.0% 6.4% −7.0% −0.4% 1.6%
Revenue growth, 3-year average 8.3% −17.8% −0.9% 0.8% −5.2% 1.6% −1.5%
Revenue growth, latest quarter 26.7% 1.1% 11.7% 5.7% 4.1% 2.6% 1.1%
Gross margin 16.4% 50.4% 52.5% 56.5% 1.4% 37.6% 52.5%
Operating margin 4.5% −3.6% 4.3% −2.0% −2.8% — 4.4%
Operating margin, 3-year average 1.6% −6.7% 0.4% −0.5% −3.6% — 2.5%
Net margin 2.8% −3.7% 2.4% −1.0% −4.6% 1.4% 3.9%
Cash from operations / revenue 6.5% 11.3% 6.3% 1.4% 5.0% 6.0% 9.2%
Free-cash-flow margin 3.8% 10.7% 5.8% 0.6% 4.1% 5.5% 7.5%
Free-cash-flow margin, 3-year average 0.0% 0.9% 5.0% 2.2% −1.0% 5.9% 5.8%
Stock pay / revenue 0.5% 1.3% 0.1% 1.6% 0.7% 0.8% 0.9%
Change in share count 7.5% 2.8% 3.3% −21.7% 1.0% −4.9% 0.0%

Median of all 29 companies we cover in apparel, accessories & luxury goods. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

29 apparel, accessories & luxury goods companies
Measure Company Peer median Rank
Revenue growth Growth 22.4% 1.6% 3 of 29
Change in growth rate Growth +8.4pp +0.0pp 3 of 29
Gross margin Profitability 16.4% 52.5% 25 of 27
Operating margin Profitability 4.5% 4.5% 13 of 26
Net margin Profitability 2.8% 3.9% 16 of 29
Free-cash-flow margin Cash generation 3.8% 7.6% 21 of 28
Stock pay as % of revenue Cash generation 0.5% 1.0% 6 of 26
Long-term debt as % of assets Balance sheet 3.2% 15.1% 3 of 22
Change in share count Balance sheet 7.5% 0.0% 22 of 25
Days sales outstanding Balance sheet 12 days 38 days 4 of 24

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to March 31, 2026
Geography
Region Revenue Share YoY
United States $138M 83.1% ▲ 7.5%
China $16.9M 10.1% ▲ 88.5%
South Korea $7M 4.2% —
JO $2.2M 1.3% ▼ 28.7%
Other Countries $2.1M 1.3% ▼ 59.6%

From Jerash Holdings (us), Inc.'s 10-K filed June 18, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$7.5M
Institutions reporting
26
Shares held vs prior quarter
▲ 35.7%
Positions opened / closed
8 / 2

Top buyers and sellers, Q2 2026: 17 institutions bought and 7 sold ; the biggest buyer was Marshall Wace, LLP (+262K shares) and the biggest seller Arrowstreet Capital, Limited Partnership (−120K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Renaissance Technologies LLC $1.4M 298K 19.1% ▲ 9.6%
Marshall Wace, LLP $1.3M 262K 16.7% New
Vanguard Capital Management LLC $976,040 203K 13.0% ▲ 7.8%
HRT Financial LP $782,000 163K 10.4% New
Dimensional Fund Advisors LP $493,324 103K 6.6% ▲ 5.2%
Arrowstreet Capital, Limited Partnership $490,048 102K 6.5% ▼ 54.0%
Geode Capital Management, LLC $314,146 65K 4.2% ▲ 64.0%
Citadel Advisors LLC $236,137 49K 3.1% ▼ 22.9%
Access Investment Management LLC $216,691 45K 2.9% 0.0%
Quadrature Capital Ltd $211,813 44K 2.8% New
Vanguard Fiduciary Trust Co $180,370 37K 2.4% 0.0%
Goldman Sachs Group Inc $159,211 33K 2.1% ▼ 26.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Jerash Holdings (us), Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1,328 1 trade by 1 insider · 0% under pre-set plans
Net ▼ $1,328 net selling
Insider Date Trade Shares Price Value
Lee Gilbert K. Chief Financial Officer April 21, 2026 Sell 400 $3.32 $1,328

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 11, 2026 estimated from the company's past filing pattern, not announced

  • August 10, 2026
  • June 15, 2026
  • February 9, 2026
  • November 12, 2025
  • August 12, 2025
  • June 23, 2025

Recent SEC filings

Data status

When each part of this page on Jerash Holdings (us), Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Jerash Holdings (us), Inc. in brief

What does Jerash Holdings (us), Inc. do?
Jerash Holdings (us), Inc. is a US-listed company in the apparel, accessories & luxury goods industry. Its financial year ends in March.
What is Jerash Holdings (us), Inc.'s stock ticker?
Jerash Holdings (us), Inc. trades under the ticker JRSH on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Jerash Holdings (us), Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Jerash Holdings (us), Inc. reported revenue of $177M, 22.4% higher than a year earlier, according to its SEC filings.
What is Jerash Holdings (us), Inc.'s free cash flow?
Jerash Holdings (us), Inc.'s free-cash-flow margin is 3.8% of revenue over the trailing twelve months, ranking 21 of the 28 apparel, accessories & luxury goods companies we cover.
What is Jerash Holdings (us), Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Jerash Holdings (us), Inc.'s free cash flow after stock-based pay gives ~$2.1 per share in the base case, and ~$1.7–$2.6 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Jerash Holdings (us), Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Renaissance Technologies LLC, Marshall Wace, LLP and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Jerash Holdings (us), Inc.'s market cap?
On November 2, 2026, Jerash Holdings (us), Inc.'s market capitalisation was about $81.2M, with a price-to-earnings ratio of 16.6 and net debt of -$5.9M. Market figures come from third-party market data and may be delayed.
Does Jerash Holdings (us), Inc. pay a dividend?
Yes: Jerash Holdings (us), Inc. paid $2.5M in dividends over the trailing twelve months, a dividend yield of 3.29% and a payout ratio of 51.8%.
How much debt does Jerash Holdings (us), Inc. have?
Jerash Holdings (us), Inc.'s debt-to-equity ratio is 4.3%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Jerash Holdings (us), Inc.'s competitors?
In our Apparel, Accessories & Luxury Goods peer group, the companies closest to Jerash Holdings (us), Inc. are Vera Bradley, Inc., Vince Holding Corp., Brilliant Earth Group, Inc., Unifi Inc and Superior Group Of Companies, Inc. The side-by-side comparison below sets their revenue, margins and growth against Jerash Holdings (us), Inc.'s.
Are insiders buying or selling Jerash Holdings (us), Inc. stock?
Over the last 12 months, Jerash Holdings (us), Inc.'s directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Jerash Holdings (us), Inc.'s next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Jerash Holdings (us), Inc. announces its own schedule.