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JRSH

Jerash Holdings (US), Inc.

JRSH

Jerash Holdings (US), Inc. • NASDAQ
$3.08 ▼ -0.65% (-0.02)
Market Cap $39.12 M
52w High $4.17
52w Low $2.81
Dividend Yield 0.20%
P/E 61.6
Volume 144.79K
Outstanding Shares 12.70M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $41.969B ▲ $5.2B ▲ $479.303M ▲ 1.142% ▲ $0.04 ▲ $2.949B ▲
Q1-2025 $39.629M ▲ $5.13M ▲ $318.676K ▲ 0.804% ▲ $0.025 ▲ $1.891M ▲
Q4-2024 $29.251M ▼ $4.805M ▲ $-152.635K ▼ -0.522% ▼ $-0.012 ▼ $1.408M ▼
Q3-2024 $35.385M ▼ $4.675M ▼ $-5.806K ▼ -0.016% ▼ $-0.001 ▼ $1.728M ▼
Q2-2024 $40.24M $5.923M $655.288K 1.628% $0.053 $2.02M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $12.002M ▲ $83.335M ▲ $20.49M ▲ $62.77M ▲
Q1-2025 $5.797M ▼ $81.739M ▼ $18.949M ▼ $62.732M ▼
Q4-2024 $13.347M ▲ $84.951M ▲ $22.082M ▲ $62.816M ▼
Q3-2024 $13.219M ▼ $79.837M ▼ $16.653M ▼ $63.139M ▼
Q2-2024 $16.339M $80.348M $16.889M $63.426M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $461.605K ▲ $6.797M ▲ $-339.393K ▲ $-227.519K ▲ $6.205M ▲ $6.417M ▲
Q1-2025 $323.63K ▲ $-6.479M ▼ $-714.919K ▼ $-378.71K ▲ $-7.562M ▼ $-6.943M ▼
Q4-2024 $-152.635K ▼ $1.945M ▲ $-697.868K ▲ $-1.07M ▼ $127.682K ▲ $982.43K ▲
Q3-2024 $6.314K ▼ $-3.008M ▼ $-735.61K ▼ $782.965K ▼ $-3.101M ▼ $-3.466M ▼
Q2-2024 $664.549K $4.628M $-549.258K $824.752K $4.91M $4.154M

Five-Year Company Overview

Income Statement

Income Statement Jerash’s sales have been relatively steady over the past few years, with a small uptick most recently, but not a strong growth surge. Profitability has weakened compared with a few years ago: the company has moved from clearly profitable results to roughly break-even, with thin margins and occasional small losses. This suggests pricing power is limited and costs (labor, materials, logistics) are hard to fully pass on. Overall, the income statement points to a stable but pressured business that is working to defend margins rather than expand them meaningfully.

Balance Sheet

Balance Sheet The balance sheet looks conservative, with modest use of debt and a capital structure that leans heavily on shareholder equity. Cash levels are not large, but the company does not appear overburdened by borrowing, which provides some resilience in a cyclical industry. Assets have grown over time, indicating continued investment in facilities and operations. The trade-off is that Jerash is asset-heavy for its size, so it needs those assets to generate stronger profits to fully justify the balance sheet footprint.

Cash Flow

Cash Flow Cash generation from day-to-day operations has been modest, roughly in line with the slim profits reported. Free cash flow has hovered around break-even, which means the business is largely self-funding but not consistently producing surplus cash that could significantly strengthen the balance sheet or fund major new initiatives on its own. Capital spending ticked up during the investment phase a few years ago and has since become more restrained, helping to preserve cash. Overall, cash flow discipline looks reasonable, but the company has limited financial “buffer” if conditions worsen or large new projects are pursued without outside funding.

Competitive Edge

Competitive Edge Jerash occupies a specialized niche as a manufacturer of branded outerwear and sportswear, benefiting from its location in Jordan’s special trade zones that offer tariff advantages into the U.S. and Europe. Long-standing relationships with well-known global brands provide credibility and a recurring business base, which is hard for newer competitors to replicate quickly. Its ability to provide end-to-end services—from design support through production and logistics—simplifies the supply chain for customers and strengthens switching costs. Key risks to its position include customer concentration, exposure to fashion and economic cycles, and potential changes in trade rules or regional stability.

Innovation and R&D

Innovation and R&D While Jerash is not a traditional high-tech company, it is innovating in how apparel is produced, with a strong emphasis on sustainability and process improvement. Investments in solar power, energy-efficient facilities, and especially the waterless dyeing joint venture reflect a push toward cleaner, more efficient manufacturing that aligns with what global brands increasingly demand from suppliers. The move into vertical integration through the NTX partnership could enhance control over quality and costs if executed well, but it also adds operational complexity and execution risk. Future gains are likely to come less from lab-style R&D and more from smarter processes, automation, and sustainable technologies embedded into its factories.

Summary

Jerash is a niche apparel manufacturer with stable revenues, thin margins, and a conservative balance sheet, operating in a cyclical, highly competitive industry. Its main strengths lie in strategic location, deep relationships with major global brands, full-service capabilities, and a clear sustainability focus that differentiates it from many low-cost peers. Financially, the company is steady but not currently showing strong growth or robust profitability, and its cash generation leaves limited room for major missteps. The big swing factor for its future appears to be successful execution of its sustainability-driven investments and vertical integration efforts, which could either reinforce its competitive edge or weigh on results if they do not scale as planned.

NEWS

November 12, 2025 · 8:00 AM UTC

Jerash Holdings Reports Fiscal 2026 Second Quarter Financial Results

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November 7, 2025 · 8:00 AM UTC

Jerash Holdings (US), Inc. Declares Quarterly Dividend

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November 4, 2025 · 8:00 AM UTC

Jerash Holdings to Report Financial Results for Fiscal 2026 Second Quarter on Wednesday, November 12, 2025

Read more