Summary of share price highs, lows and changes for Jerash Holdings (US)
Historical stock prices
Current Share Price	US$3.34
52 Week High	US$3.60
52 Week Low	US$2.85
Beta	1.11
1 Month Change	11.71%
3 Month Change	8.79%
1 Year Change	5.36%
3 Year Change	-24.77%
5 Year Change	-49.39%
Change since IPO	-61.12%

Recent updates

Analysis Article • Feb 12

Results: Jerash Holdings (US), Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates

It's been a pretty great week for Jerash Holdings (US), Inc. ( NASDAQ:JRSH ) shareholders, with its shares surging 11...

Analysis Article • Feb 10

Some Investors May Be Worried About Jerash Holdings (US)'s (NASDAQ:JRSH) Returns On Capital

When researching a stock for investment, what can tell us that the company is in decline? Typically, we'll see the...

Analysis Article • May 13

Is Jerash Holdings (US) (NASDAQ:JRSH) Using Debt Sensibly?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Analysis Article • Apr 05

At US$3.08, Is Jerash Holdings (US), Inc. (NASDAQ:JRSH) Worth Looking At Closely?

Jerash Holdings (US), Inc. ( NASDAQ:JRSH ), is not the largest company out there, but it received a lot of attention...

Analysis Article • Nov 15

Jerash Holdings (US), Inc. Just Recorded A 7.5% Revenue Beat: Here's What Analysts Think

Shareholders of Jerash Holdings (US), Inc. ( NASDAQ:JRSH ) will be pleased this week, given that the stock price is up...

Analysis Article • Nov 13

Does Jerash Holdings (US) (NASDAQ:JRSH) Have A Healthy Balance Sheet?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Analysis Article • Aug 08

Jerash Holdings (US) (NASDAQ:JRSH) Has Affirmed Its Dividend Of $0.05

The board of Jerash Holdings (US), Inc. ( NASDAQ:JRSH ) has announced that it will pay a dividend of $0.05 per share on...

Analysis Article • Jun 30

Jerash Holdings (US), Inc. Just Missed Earnings With A Surprise Loss - Here Are Analysts Latest Forecasts

As you might know, Jerash Holdings (US), Inc. ( NASDAQ:JRSH ) recently reported its annual numbers. Revenues came in at...

Analysis Article • May 23

Jerash Holdings (US) (NASDAQ:JRSH) Has Affirmed Its Dividend Of $0.05

Jerash Holdings (US), Inc.'s ( NASDAQ:JRSH ) investors are due to receive a payment of $0.05 per share on 7th of June...

Analysis Article • Feb 08

Jerash Holdings (US) (NASDAQ:JRSH) Is Due To Pay A Dividend Of $0.05

The board of Jerash Holdings (US), Inc. ( NASDAQ:JRSH ) has announced that it will pay a dividend on the 23rd of...

Analysis Article • Nov 06

Jerash Holdings (US) (NASDAQ:JRSH) Is Due To Pay A Dividend Of $0.05

The board of Jerash Holdings (US), Inc. ( NASDAQ:JRSH ) has announced that it will pay a dividend of $0.05 per share on...

Analysis Article • Aug 12

Jerash Holdings (US) (NASDAQ:JRSH) Is Due To Pay A Dividend Of $0.05

Jerash Holdings (US), Inc.'s ( NASDAQ:JRSH ) investors are due to receive a payment of $0.05 per share on 23rd of...

Analysis Article • Feb 07

Jerash Holdings (US) (NASDAQ:JRSH) Will Pay A Dividend Of $0.05

The board of Jerash Holdings (US), Inc. ( NASDAQ:JRSH ) has announced that it will pay a dividend on the 21st of...

Analysis Article • Nov 07

Jerash Holdings (US) (NASDAQ:JRSH) Has Announced A Dividend Of $0.05

Jerash Holdings (US), Inc. ( NASDAQ:JRSH ) has announced that it will pay a dividend of $0.05 per share on the 28th of...

Seeking Alpha • Sep 21

Jerash: The Coming Months Could Be Challenging But The Company Is Cheap

Summary The company’s Q1 FY23 revenues rose by 12% to $31.4 million, and the gross margin stood at 19.8%. However, major customers are placing smaller orders, and this means that the product mix has to shift to lower-margin items. Jerash is bracing for flat sales growth in FY23 and the gross margin goal for the period is 16-18%. Yet, I think the stock is cheap as the annual gross income at a 16% margin is about $23 million. Jerash had a net cash position of $5.8 million at the end of June and its enterprise value is only $40.3 million. Introduction Jerash Holdings (JRSH) is a Jordan-focused apparel company which I covered on SA in early July. It's still on my shortlist and I think the Q1 FY23 results were strong as revenues grew by 12% and the gross margin increased to 19.8%. However, revenues for Q2 FY23 are expected to decline year on year and the gross margin goal for FY23 is 16-18%. In addition, there are expectations for flat sales growth for the full fiscal year. In my view, Jerash looks cheap even without revenue growth as the annual gross income at a 16% margin is about $23 million. The company had a net cash position of $5.8 million at the end of June, and its enterprise value stands at only $40.3 million as of the time of writing. Let's review. Overview of the Q1 FY23 financials In case you haven't read my first article about Jerash, here's a short description of the business and the reason it's manufacturing facilities are based in Jordan. The company produces t-shirts, polo shirts, pants, shorts, and jackets for major U.S. brands such as The North Face, Calvin Klein, and American Eagle and its annual capacity is about 14 million pieces per year. Capacity was boosted by about 20% in October 2021 when Jerash acquired its sixth factory in Jordan. USA and Jordan have had a free trade agreement for 20 years now and this means that the company's exports are exempt from customs duties and import quotas. Jordan also has a similar agreement with the EU and Jerash thus has a strong competitive advantage over competitors from Asia. Turning our attention to the Q1 FY23 financial results, revenues increased by 12% year on year to $31.4 million thanks to the addition of its sixth factory. This helped Jerash trim the concentration of its sales to the USA a bit as a significant part of the revenue growth comes from domestic orders. Jerash The gross margin increased by 100 basis points, mainly thanks to a lower average cost basis as a result of economies of scale. However, the net income declined to $1.7 million from $1.9 million a year earlier due to a 24% increase in operating expenses to $4.4 million following higher stock-based payments, delivery, and foreign worker travelling expenses. Jerash Looking ahead, Jerash will start working on initial orders for Skechers and Timberland in Q2 FY23, which represent an estimated 700,000 pieces annually. However, the 500,000 pieces order for Skechers is for women's polos, while the 200,000 pieces order for Timberland is for four fleece styles of outerwear and the company said in its Q1 FY23 earnings call that these products have lower margins compared to the current mix. Jerash added that its major customers are now placing smaller purchase orders due to high inventory levels and inflationary pressures around the world. This means that the company will have to rely more on local orders to keep operating at full capacity, and this will shift the product mix to things like shorts, crew neck and pullover shirts that have lower average selling prices. In light of this, Jerash now expects FY23 revenue growth to be basically flat, with a decline in Q2 to $41-$43 million compared to $45.7 million a year earlier. The company should have good visibility for the quarter considering its manufacturing capacity is fully booked through December 2022. Overall, it seems the contract apparel manufacturing sector in Jordan is facing significant headwinds at the moment due to deteriorating global macroeconomic conditions, but the silver lining is that Jerash seems to be navigating through this situation well for now. At the Q1 FY23 earnings call, the management said that this is the only local company running at full capacity and that some of its competitors are running at 30% below full capacity. I think that a lot of the negative investor expectations are already priced in Jerash' market valuation as the share price is down by almost 40% over the past 12 months. In my view, gross margins of 16% sound compelling even without growth and I continue to think that the company should be trading above $7.00. There don't seem to be any potential catalysts here in the near term, but the downside risk could be limited as Jerash has a $3 million share repurchase program. Looking at the risks for the bull case, the main ones that I mentioned in July included a reliance on a limited number of customers and suppliers and rising social unrest across the Middle East due to high global food prices. In Q1 FY23, VF Corporation accounted for 66% of revenues but this share should decrease somewhat over the coming months due to the shift to local orders. Yet, the potential loss of such a large client would still have a devastating impact on the business of Jerash. Looking at global food prices, the FAO Food Price Index has declined significantly over the past two months, and I no longer think that we could see another Arab Spring in the near future.

Seeking Alpha • Aug 11

Jerash Holdings GAAP EPS of $0.14 beats by $0.02, revenue of $33.4M misses by $0.69M

Jerash Holdings press release (NASDAQ:JRSH): FQ1 GAAP EPS of $0.14 beats by $0.02. Revenue of $33.4M (+11.7% Y/Y) misses by $0.69M. FY2023 Outlook: Revenue: $41M to $43M vs. consensus of $160.36M; Gross margin: 16% to 18%. "We continue to focus on enhancing our ESG efforts in everything we do, including the construction of a high-quality, energy-efficient, contemporary living space, which is expected to be completed this fall. We plan to move approximately 1,500 of our multi-national workers to this new dormitory at the end of 2022, which, in turn, will save our company about $500,000 in rental expenses next year."

Analysis Article • Aug 09

Jerash Holdings (US) (NASDAQ:JRSH) Has Affirmed Its Dividend Of $0.05

Jerash Holdings (US), Inc.'s ( NASDAQ:JRSH ) investors are due to receive a payment of $0.05 per share on 24th of...

Seeking Alpha • Aug 05

Jerash Holdings declares $0.05 dividend

Jerash Holdings (NASDAQ:JRSH) declares $0.05/share quarterly dividend, in line with previous. Forward yield 3.57% Payable Aug. 24; for shareholders of record Aug. 17; ex-div Aug. 16. See JRSH Dividend Scorecard, Yield Chart, & Dividend Growth.

Seeking Alpha • Jul 01

Jerash Has A Good Moat But There Are Major Risks

The company has apparel manufacturing facilities in Jordan in order to benefit from a trade agreement between the country with the USA. The business is growing rapidly and revenues and net income came in at $143.3 million and $7.9 million in FY22, respectively. However, just two clients account for over 90% of revenues, and social unrest could spread across Jordan due to rising food prices. Overall, I view Jerash as a speculative buy, and I think that the company should be trading at above 5x EV/EBITDA. Introduction I've been looking for undervalued microcap stocks and among the companies on my shortlist is Jerash Holdings (JRSH). It's an apparel company with facilities in Jordan that is benefitting from a free trade agreement between this country with the USA and I think it looks cheap at the moment. Jerash closed its FY22 with revenues of $143.4 million and a net income of $7.9 million. On top of that, it recently launched a $3 million share buyback program. Not bad at all for a company valued at $59.3 million. Let's review. Overview of the business and financials Jerash was founded in 2016 and it is involved in the manufacturing of t-shirts, polo shirts, pants, shorts, and jackets for major U.S. brands such as The North Face, Calvin Klein, and American Eagle. The company has subsidiaries in the USA, Jordan, and China and most of its revenues come from the USA. Jerash Holdings You see, the USA and Jordan have had a free trade agreement since 2002, which means that Jerash can sell its products in the USA free from customs duties and import quotas. This way, the company has a significant advantage compared to U.S. producers thanks to lower wages and on top of that, most of its factories are located in a development zone. A total of 5 factories and 4 warehouses are located in Al Tajamouat Industrial City, which means that they are subject to an 18% or 20% corporate income tax plus a 1% social contribution. The sixth factory is located in Al-Hasa County and manufactures garment products per customer orders. It accounts for just 400 of the company's 5,700 employees. As of March 2022, Jerash had an annual production capacity of around 14 million pieces and around 35% of pieces shipped in its FY ended March 31, 2022 were jackets. As COVID-19 gripped the world, the company also started to produce personal protective equipment in 2020. Turning our attention to the financial performance of the business, Jerash closed 2022 with 58.9% increase in sales while its net income almost doubled. Jerash Holdings The main reason for the strong results was the lifting of COVID-19 restrictions in the USA and the company mentioned in its FY22 financial report that all its factories were fully booked until December 2022 (page 21 here). However, I find it concerning that the majority of revenues come from just a few U.S. companies. You see, just over two-thirds of Jerash's FY 2022 sales were from VF Corporation and most of its products are sold under The North Face brand. Another 24.1% of sales came from New Balance, whose brands include Calvin Klein, and Tommy Hilfiger among others. Jerash Holdings This means that a loss of U.S. market share for these two clients would have a significant negative impact on the financial performance of Jerash. Also, the business of the company is seasonal and a sizable portion of revenues is received during the first half of its fiscal year as most of the orders from VF Corporation come from winter season fashions. Turning our attention to expenses, there is a large counterparty risk here too as about 20% of garments and raw materials in FY22 came from just 2 major suppliers. On a positive note, I think the balance sheet looks strong. As of March 2022, Jerash had $25.2 million in cash and there were no debts. The company has an enterprise value of $32.9 million as of the time of writing and is trading at an EV/EBITDA multiple of just 2.6x. Jerash Holdings So, what does Jerash plan to do with its large cash pile? Well, the company has a quarterly dividend of $0.05 per share, which translates into a dividend yield of 4.25%. And on June 13, Jerash announced a $3 million share repurchase program. Overall, I view Jerash as a rapidly growing and profitable apparel manufacturer that has a good moat thanks to Jordan's free trade deal with the USA. The balance sheet is strong, and the recently announced $3 million share buyback is likely to boost the share price. I think that Jerash should be trading at above 5x EV/EVITDA, which is equal to around $7.15 per share.

Shareholder Returns

	JRSH	US Luxury	US Market
7D	-4.3%	2.4%	3.2%
1Y	5.4%	-2.8%	31.0%

Return vs Industry: JRSH exceeded the US Luxury industry which returned -2.8% over the past year.

Return vs Market: JRSH underperformed the US Market which returned 31% over the past year.

Price Volatility

Is JRSH's price volatile compared to industry and market?
JRSH volatility
JRSH Average Weekly Movement	5.5%
Luxury Industry Average Movement	6.8%
Market Average Movement	7.1%
10% most volatile stocks in US Market	16.1%
10% least volatile stocks in US Market	3.2%

Stable Share Price: JRSH has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: JRSH's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2016	6,000	Samuel or Sam Choi	www.jerashholdings.com

Jerash Holdings (US), Inc., through its subsidiaries, manufactures and exports customized, ready-made sportswear, and outerwear through knitted fabrics. The company offers t-shirts, jackets, vests, pants, shorts, and polo shirts, as well as personal protective equipment. It serves various brands and retailers in the United States, Hong Kong, Germany, China, Jordan, and internationally.

Jerash Holdings (US), Inc. Fundamentals Summary

How do Jerash Holdings (US)'s earnings and revenue compare to its market cap?
JRSH fundamental statistics
Market cap	US$44.32m
Earnings (TTM)	US$1.80m
Revenue (TTM)	US$152.62m

23.6x

P/E Ratio

0.3x

P/S Ratio

Is JRSH overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
JRSH income statement (TTM)
Revenue	US$152.62m
Cost of Revenue	US$127.95m
Gross Profit	US$24.67m
Other Expenses	US$22.87m
Earnings	US$1.80m

Last Reported Earnings

Dec 31, 2025

Next Earnings Date

n/a

Earnings per share (EPS)	0.14
Gross Margin	16.16%
Net Profit Margin	1.18%
Debt/Equity Ratio	14.7%

How did JRSH perform over the long term?

See historical performance and comparison

Dividends

6.0%

Current Dividend Yield

141%

Payout Ratio

Does JRSH pay a reliable dividends?

See JRSH dividend history and benchmarks

When do you need to buy JRSH by to receive an upcoming dividend?
Jerash Holdings (US) dividend dates
Ex Dividend Date	May 14 2026
Dividend Pay Date	May 21 2026
Days until Ex dividend	5 days
Days until Dividend pay date	12 days

Does JRSH pay a reliable dividends?

See JRSH dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/05/07 13:46
End of Day Share Price	2026/05/07 00:00
Earnings	2025/12/31
Annual Earnings	2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Jerash Holdings (US), Inc. is covered by 4 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Michael Baker	D.A. Davidson & Co.
Mark Argento	Lake Street Capital Markets, LLC
Ryan Meyers	Lake Street Capital Markets, LLC

Jerash Holdings (US) (JRSH) Stock Overview

Rewards

Risk Analysis

Analyst Price Targets

Trade Diversification And Duty Advantages Will Support Multi Year Expansion In Production Capacity

Top Analyst Narratives

Trade Diversification And Duty Advantages Will Support Multi Year Expansion In Production Capacity

Jerash Holdings (US), Inc. Competitors

Vince Holding

Tefron

JX Luxventure Group

Superior Group of Companies

Price History & Performance

Recent News & Updates

Upcoming dividend of US$0.05 per share

Jerash Holdings (US), Inc. announces Quarterly dividend, payable on May 21, 2026

Results: Jerash Holdings (US), Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates

Third quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind

Some Investors May Be Worried About Jerash Holdings (US)'s (NASDAQ:JRSH) Returns On Capital

Second quarter dividend of US$0.05 announced

Recent updates

Upcoming dividend of US$0.05 per share

Jerash Holdings (US), Inc. announces Quarterly dividend, payable on May 21, 2026

Results: Jerash Holdings (US), Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates

Third quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind

Some Investors May Be Worried About Jerash Holdings (US)'s (NASDAQ:JRSH) Returns On Capital

Second quarter dividend of US$0.05 announced

Jerash Holdings (US), Inc. announces Quarterly dividend, payable on February 20, 2026

Jerash Holdings (US), Inc. to Report Q3, 2026 Results on Feb 09, 2026

Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind

First quarter dividend of US$0.05 announced

Jerash Holdings (US), Inc. announces Quarterly dividend, payable on November 26, 2025

Jerash Holdings (US), Inc. to Report Q2, 2026 Results on Nov 12, 2025

First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind

Jerash Holdings (US), Inc. to Report Q1, 2026 Results on Aug 12, 2025

Jerash Holdings (US), Inc., Annual General Meeting, Sep 10, 2025

Full year 2025 earnings released: US$0.069 loss per share (vs US$0.16 loss in FY 2024)

Now 23% overvalued

Jerash Holdings (US), Inc. to Report Q4, 2025 Results on Jun 23, 2025

Third quarter dividend of US$0.05 announced

Is Jerash Holdings (US) (NASDAQ:JRSH) Using Debt Sensibly?

Now 25% overvalued

At US$3.08, Is Jerash Holdings (US), Inc. (NASDAQ:JRSH) Worth Looking At Closely?

Jerash Holdings (US), Inc. Provides Earnings Guidance for the Fourth Quarter of Fiscal Year 2025 and First Quarter of Fiscal Year 2026

Third quarter 2025 earnings released: EPS: US$0 (vs US$0.018 in 3Q 2024)

Jerash Holdings (US), Inc. to Report Q3, 2025 Results on Feb 11, 2025

Jerash Holdings (US), Inc. Just Recorded A 7.5% Revenue Beat: Here's What Analysts Think

Second quarter dividend of US$0.05 announced

Jerash Holdings (Us), Inc. Announces Quarterly Dividend, Payable on November 29, 2024

New major risk - Revenue and earnings growth

Does Jerash Holdings (US) (NASDAQ:JRSH) Have A Healthy Balance Sheet?

Now 21% undervalued

Jerash Holdings (US), Inc. to Report Q2, 2025 Results on Nov 12, 2024

Now 20% undervalued

First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind

Jerash Holdings (Us), Inc. Provides Earnings Guidance for the Second Quarter and Full Year of 2025

Jerash Holdings (US) (NASDAQ:JRSH) Has Affirmed Its Dividend Of $0.05

Fourth quarter dividend of US$0.05 announced

Jerash Holdings (US), Inc. announces Quarterly dividend, payable on August 23, 2024

Now 22% undervalued after recent price drop

Jerash Holdings (US), Inc., Annual General Meeting, Sep 12, 2024

Jerash Holdings (US), Inc. Just Missed Earnings With A Surprise Loss - Here Are Analysts Latest Forecasts

Full year 2024 earnings released: US$0.16 loss per share (vs US$0.19 profit in FY 2023)

Jerash Holdings (US), Inc. to Report Q4, 2024 Results on Jun 27, 2024

Jerash Holdings (US) (NASDAQ:JRSH) Has Affirmed Its Dividend Of $0.05

Third quarter dividend of US$0.05 announced

Third quarter 2024 earnings: EPS and revenues miss analyst expectations

Jerash Holdings (US), Inc. Approves Regular Quarterly Dividend, Payable on February 23, 2024

Jerash Holdings (US) (NASDAQ:JRSH) Is Due To Pay A Dividend Of $0.05

Upcoming dividend of US$0.05 per share at 6.5% yield

Second quarter dividend of US$0.05 announced

Jerash Holdings (US), Inc. to Report Q3, 2024 Results on Feb 08, 2024

Second quarter 2024 earnings: EPS and revenues miss analyst expectations

Jerash Holdings (US), Inc. to Report Q2, 2024 Results on Nov 13, 2023

Jerash Holdings (US) (NASDAQ:JRSH) Is Due To Pay A Dividend Of $0.05

Jerash Holdings (US) (NASDAQ:JRSH) Is Due To Pay A Dividend Of $0.05

Jerash Holdings (US), Inc. Provides Earnings Guidance for the Full Fiscal Year 2024

First quarter 2024 earnings: EPS and revenues exceed analyst expectations

Upcoming dividend of US$0.05 per share at 5.6% yield

Jerash Holdings (US), Inc. to Report Q1, 2024 Results on Aug 09, 2023