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Jerash Holdings (US)
(NASDAQ:JRSH)
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Rating:65Neutral
Price Target:
$6.00
▲(6.57% Upside)
Action:Downgraded
Date:09/09/26
JRSH scores in the mid-range primarily because financial performance is improving but not yet high quality: profitability has recovered and leverage is low, yet cash-flow consistency and conversion remain the main risk. Valuation is supportive with a reasonable P/E and a solid dividend yield, while technicals point to a constructive longer-term trend with neutral-to-positive momentum. The recent dividend declaration is a modest additional positive.
Positive Factors
Revenue and profit recovery
Revenue growth and a return to positive net income indicate that demand and operating execution have improved from the prior loss period. If maintained, this recovery can strengthen internal funding capacity and support customer retention, although the current earnings base remains modest.
Negative Factors
Thin profitability
Thin margins leave relatively little room for production inefficiencies, higher input costs, or weaker customer demand to be absorbed without affecting earnings. This limits the durability of the profit recovery and makes sustained margin improvement important for stronger returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit recovery
Revenue growth and a return to positive net income indicate that demand and operating execution have improved from the prior loss period. If maintained, this recovery can strengthen internal funding capacity and support customer retention, although the current earnings base remains modest.
Read all positive factors
Jerash Holdings (US) Key Performance Indicators (KPIs)
Any
Revenue by Geography
Reveals the share of revenues coming from different countries and regions, helping investors see whether Jerash’s fortunes hinge on a few markets. Shifts toward new regions can signal expansion and reduced concentration risk; losses in key markets warn of demand or trade-policy vulnerability.
Reveals the share of revenues coming from different countries and regions, helping investors see whether Jerash’s fortunes hinge on a few markets. Shifts toward new regions can signal expansion and reduced concentration risk; losses in key markets warn of demand or trade-policy vulnerability.
Data provided by:
The Fly
The FlyJerash Holdings (US) (JRSH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$70.23M
Dividend Yield3.62%
Average Volume (3M)90.84K
Price to Earnings (P/E)14.3
Beta (1Y)0.50
Revenue Growth22.39%
EPS Growth487.96%
CountryUS
Employees6,300
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)0.39
Shares Outstanding12,699,940
10 Day Avg. Volume71,121
30 Day Avg. Volume90,843
Financial Highlights & Ratios
PEG Ratio0.87
Price to Book (P/B)0.67
Price to Sales (P/S)0.29
P/FCF Ratio-62.01
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$5.50Price Target Upside-2.31% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.39
Revenue Forecast (FY)$184.80M
Jerash Holdings (US) Business Overview & Revenue Model
Company Description
Jerash Holdings (US), Inc. operates as an apparel manufacturer and exporter, specializing in both bespoke and ready-to-wear athletic and outdoor clothing. The company's product portfolio encompasses a broad range of knit garments, including t-shir...
How the Company Makes Money
Jerash Holdings makes money by manufacturing apparel for brand and retailer customers under a contract-manufacturing model. Revenue is generated mainly from the sale of manufactured finished garments (and in some cases manufacturing services) to i...
Jerash Holdings (US) Earnings Call Summary
Earnings Call Date:Jun 15, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call presents a largely positive picture: strong top-line growth (Q4 revenue +46.6%), material improvement in profitability (Q4 net income vs prior-year loss), large confirmed repeat orders, and clear phased capacity expansion plans that should support further growth. Offsetting issues are modest gross margin compression, elevated inventory/working capital, capacity limits that constrain near-term full-year visibility, and geopolitical/seasonal execution risks. Overall, the positive operational and financial momentum, backlog visibility, and planned capacity increases outweigh the challenges.Positive Updates
Strong Revenue Growth (Q4)
Revenue for fiscal 2026 Q4 grew 46.6% year-over-year to $42.9 million from $29.3 million, driven by increased shipments to long-standing customers and orders from newer customers including Hansel Group.
Negative Updates
Slight Gross Margin Compression
Gross margin in Q4 was 17.1%, down from 17.9% a year earlier (a decline of ~0.8 percentage points) despite higher gross profit, reflecting mix and seasonal/shipping effects.
Read all updates
Q4-2026 Updates
Positive
Negative
Strong Revenue Growth (Q4)
Revenue for fiscal 2026 Q4 grew 46.6% year-over-year to $42.9 million from $29.3 million, driven by increased shipments to long-standing customers and orders from newer customers including Hansel Group.
Read all positive updates
Company Guidance
Guidance highlights: Jerash expects fiscal 2027 first‑quarter revenue to rise 20–22% year‑over‑year with a gross‑margin target of 15–17%. The company says its facilities are fully booked through December 2026 (≈80% of that backlog already confirmed, historically ~99% convert to firm POs) and has completed Hensel’s initial 3.0M‑pair order and received two follow‑ups (~3.0M for season one and ~1.3M of another style). Capacity expansion is phased: phase 1 to add ~15% capacity and ~700 workers by end‑CY2026; phase 2 to add an additional ~20–25% capacity (planned by mid‑ to end‑CY2027) with ~500 new sewing machines and ~1,100 workers; a satellite expansion will add ~5% capacity and up to 250 workers (another satellite could create ~500 jobs). Recent financial/operating metrics cited include Q4 revenue $42.9M (+46.6% YoY), Q4 gross profit $7.4M (17.1% margin), operating income $2.3M, Q4 net income $1.7M ($0.12 diluted), cash & restricted cash $12.5M, inventory $30M, AR $5.7M, net working capital $36.7M, operating cash flow ≈$2.5M, and a $0.05 per‑share quarterly dividend paid May 21, 2026.Jerash Holdings (US) Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 176.86M | 166.26M | 117.19M | 138.06M | 143.35M | 90.21M |
| Gross Profit | 28.96M | 26.78M | 16.90M | 21.79M | 27.33M | 16.00M |
| EBITDA | 504.60M | 10.04M | 3.13M | 8.27M | 13.61M | 7.94M |
| Net Income | 4.90M | 3.54M | -2.01M | 2.42M | 7.92M | 4.15M |
Balance Sheet | ||||||
| Total Assets | 87.38M | 89.85M | 80.25M | 83.72M | 85.31M | 73.25M |
| Cash, Cash Equivalents and Short-Term Investments | 12.40M | 10.76M | 12.43M | 17.80M | 25.68M | 21.84M |
| Total Debt | 8.95M | 8.58M | 989.10K | 768.75K | 1.91M | 1.95M |
| Total Liabilities | 21.22M | 24.94M | 15.83M | 15.49M | 16.01M | 16.86M |
| Stockholders Equity | 66.01M | 64.77M | 64.39M | 68.23M | 69.30M | 56.39M |
Cash Flow | ||||||
| Free Cash Flow | 6.66M | -2.63M | -2.36M | 5.00M | 3.91M | -2.39M |
| Operating Cash Flow | 11.51M | 2.49M | 2.48M | 10.81M | 8.96M | -1.50M |
| Investing Cash Flow | -5.79M | -5.79M | -5.14M | -13.78M | -8.67M | -894.26K |
| Financing Cash Flow | 896.60K | 671.35K | -2.43M | -3.95M | 3.29M | -1.65M |
Jerash Holdings (US) Technical Analysis
Positive
5.63
Price Trends
4.94
Positive
4.22
Positive
3.60
Positive
Market Momentum
0.19
Positive
59.16
Neutral
22.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JRSH, the sentiment is Positive. The current price of 5.63 is above the 20-day moving average (MA) of 5.45, above the 50-day MA of 4.94, and above the 200-day MA of 3.60, indicating a bullish trend. The MACD of 0.19 indicates Positive momentum. The RSI at 59.16 is Neutral, neither overbought nor oversold. The STOCH value of 22.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JRSH.
Jerash Holdings (US) Risk Analysis
Jerash Holdings (US) disclosed 39 risk factors in its most recent earnings report. Jerash Holdings (US) reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Jerash Holdings (US) Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $70.23M | 14.32 | 7.62% | 3.62% | 22.39% | 487.96% | |
64 Neutral | $132.35M | -5.35 | -10.51% | ― | -7.01% | -19.76% | |
63 Neutral | $82.22M | 9.14 | 18.07% | ― | 4.76% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
54 Neutral | $117.94M | -5.48 | -15.54% | 1.00% | 8.82% | 29.91% | |
53 Neutral | $43.63M | -5.81 | -14.26% | 5.85% | -4.57% | 47.12% | |
42 Neutral | $5.97M | -0.27 | -95.03% | ― | -21.18% | 65.21% |
* Consumer Cyclical Sector Average
JRSH
Jerash Holdings (US)
5.53
2.26
69.11%
LAKE
Lakeland Industries
11.51
-2.93
-20.29%
UFI
Unifi
6.79
2.35
52.93%
VNCE
Vince Holding
6.51
5.01
334.00%
CULP
Culp
3.42
-1.13
-24.84%
XELB
XCel Brands
0.90
-0.57
-38.78%
Jerash Holdings (US) Corporate Events
Dividends
Jerash Holdings Declares Regular Quarterly Dividend for Shareholders
Positive
Aug 7, 2026
Jerash Holdings (US), Inc., a producer of custom sportswear and outerwear for major global brands, continues to leverage its Jordan-based manufacturing footprint of eight factories and six warehouses, supported by roughly 6,300 employees. The comp...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.