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Jerash Hldgs Us Inc Financials

JRSH
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE March

This page shows Jerash Hldgs Us Inc (JRSH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI JRSH FY2025

Jerash’s recovery is being carried by volume, but an inventory-funded working-capital model is leaving little cash after operations.

By FY2025, the current ratio still looked superficially healthy at 2.7x, but cash plus receivables were still below $19.8M of current liabilities. That is a meaningful shift from FY2022, when liquid working capital sat well above near-term obligations, so liquidity now depends more on inventory turning into cash.

The FY2025 rebound to $145.8M helped gross margin recover to 15.3%. But the improvement looks more like fixed-cost absorption than a full reset in economics, because operating income only edged back above zero and higher interest expense kept net income negative.

Cash generation has become thin relative to shareholder payouts: FY2024-FY2025 produced only $1.7M of free cash flow, while dividends consumed $4.9M. The company still has balance-sheet room, but recent distributions have been funded more by accumulated liquidity than by current-year operating cash production.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 47 / 100
Financial Profile 47/100

Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Jerash Hldgs Us Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
27

Jerash Hldgs Us Inc has an operating margin of 3.8%, meaning the company retains $4 of operating profit per $100 of revenue. This below-average margin results in a low score of 27/100, suggesting thin profitability after operating expenses. This is up from 1.0% the prior year.

Growth
65

Jerash Hldgs Us Inc's revenue grew 14.0% year-over-year to $166.3M, a solid pace of expansion. This earns a growth score of 65/100.

Leverage
100

Jerash Hldgs Us Inc carries a low D/E ratio of 0.04, meaning only $0.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
51

Jerash Hldgs Us Inc's current ratio of 2.70 indicates adequate short-term liquidity, earning a score of 51/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
24

While Jerash Hldgs Us Inc generated $2.5M in operating cash flow, capex of $5.1M consumed most of it, leaving -$2.6M in free cash flow. This results in a low score of 24/100, reflecting heavy capital investment rather than weak cash generation.

Returns
15

Jerash Hldgs Us Inc generates a 5.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 15/100. This is up from -1.4% the prior year.

Altman Z-Score Safe
4.55

Jerash Hldgs Us Inc scores 4.55, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
6/9

Jerash Hldgs Us Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
0.71x

For every $1 of reported earnings, Jerash Hldgs Us Inc generates $0.71 in operating cash flow ($2.5M OCF vs $3.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage Adequate
3.9x

Jerash Hldgs Us Inc earns $3.9 in operating income for every $1 of interest expense ($6.3M vs $1.6M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue
$166.3M
YoY+14.0%
5Y CAGR+13.0%

Jerash Hldgs Us Inc generated $166.3M in revenue in fiscal year 2026. This represents an increase of 14.0% from the prior year.

EBITDA
$6.8M
YoY+255.1%
5Y CAGR-0.6%

Jerash Hldgs Us Inc's EBITDA was $6.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 255.1% from the prior year.

Net Income
$3.5M
YoY+517.0%
5Y CAGR-3.1%

Jerash Hldgs Us Inc reported $3.5M in net income in fiscal year 2026. This represents an increase of 517.0% from the prior year.

EPS (Diluted)
$0.27
YoY+485.7%
5Y CAGR-6.1%

Jerash Hldgs Us Inc earned $0.27 per diluted share (EPS) in fiscal year 2026. This represents an increase of 485.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$2.6M
YoY-737.0%

Jerash Hldgs Us Inc generated -$2.6M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 737.0% from the prior year.

Cash & Debt
$10.8M
YoY-19.3%
5Y CAGR-12.6%

Jerash Hldgs Us Inc held $10.8M in cash against $2.8M in long-term debt as of fiscal year 2026.

Dividends Per Share
$0.20
YoY+0.0%

Jerash Hldgs Us Inc paid $0.20 per share in dividends in fiscal year 2026. This represents an increase of 0.0% from the prior year.

Shares Outstanding
13M
YoY+0.0%
5Y CAGR+0.3%

Jerash Hldgs Us Inc had 13M shares outstanding in fiscal year 2026. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin
16.1%
YoY+0.8pp
5Y CAGR-1.6pp

Jerash Hldgs Us Inc's gross margin was 16.1% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 0.8 percentage points from the prior year.

Operating Margin
3.8%
YoY+2.8pp
5Y CAGR-2.2pp

Jerash Hldgs Us Inc's operating margin was 3.8% in fiscal year 2026, reflecting core business profitability. This is up 2.8 percentage points from the prior year.

Net Margin
2.1%
YoY+2.7pp
5Y CAGR-2.5pp

Jerash Hldgs Us Inc's net profit margin was 2.1% in fiscal year 2026, showing the share of revenue converted to profit. This is up 2.7 percentage points from the prior year.

Return on Equity
5.5%
YoY+6.8pp
5Y CAGR-1.9pp

Jerash Hldgs Us Inc's ROE was 5.5% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 6.8 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
$5.1M
YoY+439.2%
5Y CAGR+41.9%

Jerash Hldgs Us Inc invested $5.1M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 439.2% from the prior year.

JRSH Income Statement

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Revenue $42.9M+2.7% $41.8M-0.5% $42.0M+5.9% $39.6M+35.5% $29.3M-17.3% $35.4M-12.1% $40.2M-1.7% $40.9M
Cost of Revenue $35.5M+2.4% $34.7M-2.7% $35.7M+6.4% $33.5M+39.7% $24.0M-20.0% $30.0M-9.6% $33.2M-8.6% $36.3M
Gross Profit $7.4M+4.3% $7.0M+12.1% $6.3M+3.3% $6.1M+16.2% $5.2M-2.7% $5.4M-23.7% $7.1M+52.1% $4.6M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $4.8M-1.7% $4.9M-1.9% $5.0M+1.3% $4.9M+9.9% $4.5M+6.3% $4.2M-22.9% $5.4M+9.0% $5.0M
Operating Income $2.3M+20.2% $1.9M+78.3% $1.1M+13.6% $959K+121.2% $434K-38.7% $708K-37.6% $1.1M+236.9% -$829K
Interest Expense $383K-2.6% $393K-20.3% $493K+38.7% $356K-4.2% $371K+1.8% $365K-27.5% $503K+4.8% $480K
Income Tax $270K-26.7% $368K+139.3% $154K-53.2% $329K+1.6% $324K-28.0% $450K+324.8% $106K-5.2% $112K
Net Income $1.6M+35.6% $1.2M+153.6% $462K+44.9% $319K+308.8% -$153K-2528.9% -$6K-100.9% $655K+148.7% -$1.3M
EPS (Diluted) N/A $0.09+125.0% $0.04+33.3% $0.03 N/A $0.00-100.0% $0.05+145.5% $-0.11

JRSH Balance Sheet

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Total Assets $89.9M+6.7% $84.2M+1.1% $83.3M+2.0% $81.7M-1.5% $83.0M+3.9% $79.8M-0.6% $80.3M+4.8% $76.7M
Current Assets $58.4M+2.9% $56.8M+2.2% $55.6M+4.1% $53.4M-1.9% $54.4M+6.5% $51.1M-0.9% $51.6M+8.3% $47.6M
Cash & Equivalents $10.8M-6.0% $11.5M-4.6% $12.0M+107.0% $5.8M-56.6% $13.3M+1.0% $13.2M-19.1% $16.3M+43.7% $11.4M
Inventory $30.0M+15.1% $26.0M-0.9% $26.3M-3.9% $27.3M-1.4% $27.7M+44.9% $19.1M-5.4% $20.2M-2.5% $20.7M
Accounts Receivable $5.7M-27.5% $7.8M+35.1% $5.8M-41.9% $10.0M+224.4% $3.1M-57.5% $7.2M+24.9% $5.8M-38.4% $9.4M
Goodwill $499K0.0% $499K0.0% $499K0.0% $499K0.0% $499K0.0% $499K0.0% $499K0.0% $499K
Total Liabilities $24.9M+21.3% $20.6M+0.4% $20.5M+8.1% $18.9M-5.8% $20.1M+20.7% $16.7M-1.4% $16.9M+23.0% $13.7M
Current Liabilities $21.6M+6.2% $20.4M0.0% $20.4M+8.7% $18.8M-5.4% $19.8M+21.5% $16.3M-0.6% $16.4M+24.9% $13.1M
Long-Term Debt $2.8M N/A N/A N/A N/A N/A N/A N/A
Total Equity $64.8M+1.9% $63.6M+1.3% $62.8M+0.1% $62.7M-0.1% $62.8M-0.5% $63.1M-0.5% $63.4M+0.8% $62.9M
Retained Earnings $39.4M+2.5% $38.4M+1.4% $37.9M-0.5% $38.1M-0.8% $38.4M-2.0% $39.2M-1.6% $39.8M+0.1% $39.7M

JRSH Cash Flow Statement

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Operating Cash Flow $6.0M+257.1% -$3.8M-156.1% $6.8M+204.9% -$6.5M-432.9% $1.9M+164.7% -$3.0M-165.0% $4.6M+310.3% -$2.2M
Capital Expenditures $4.2M+4454.4% $92K-75.7% $380K-18.4% $465K+1.2% $459K+220.3% $143K-34.2% $218K+67.3% $130K
Free Cash Flow $1.8M+146.0% -$3.9M-160.8% $6.4M+192.4% -$6.9M-567.1% $1.5M+147.2% -$3.2M-171.5% $4.4M+289.2% -$2.3M
Investing Cash Flow -$4.4M-1290.0% -$318K+6.2% -$339K+52.6% -$715K-2.4% -$698K+5.1% -$736K-33.9% -$549K-41.9% -$387K
Financing Cash Flow -$2.3M-163.8% $3.5M+1652.2% -$227K+40.0% -$379K+64.6% -$1.1M-236.7% $783K-5.1% $825K-45.6% $1.5M
Dividends Paid $635K0.0% $635K0.0% $635K0.0% $635K+3.3% $615K0.0% $615K0.0% $615K0.0% $615K
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

JRSH Financial Ratios

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Gross Margin 17.2%+0.3pp 16.9%+1.9pp 15.0%-0.4pp 15.4%-2.6pp 17.9%+2.7pp 15.2%-2.3pp 17.5%+6.2pp 11.3%
Operating Margin 5.5%+0.8pp 4.7%+2.1pp 2.6%+0.2pp 2.4%+0.9pp 1.5%-0.5pp 2.0%-0.8pp 2.8%+4.8pp -2.0%
Net Margin 3.7%+0.9pp 2.8%+1.7pp 1.1%+0.3pp 0.8%+1.3pp -0.5%-0.5pp -0.0%-1.6pp 1.6%+4.9pp -3.3%
Return on Equity 2.5%+0.6pp 1.8%+1.1pp 0.7%+0.2pp 0.5%+0.8pp -0.2%-0.2pp -0.0%-1.0pp 1.0%+3.2pp -2.1%
Return on Assets 1.8%+0.4pp 1.4%+0.8pp 0.5%+0.2pp 0.4%+0.6pp -0.2%-0.2pp -0.0%-0.8pp 0.8%+2.6pp -1.8%
Current Ratio 2.70-0.1 2.79+0.1 2.73-0.1 2.85+0.1 2.75-0.4 3.130.0 3.14-0.5 3.63
Debt-to-Equity 0.04-0.3 0.320.0 0.33+0.0 0.30-0.0 0.32+0.1 0.260.0 0.27+0.0 0.22
FCF Margin 4.2%+13.5pp -9.3%-24.6pp 15.3%+32.8pp -17.5%-22.6pp 5.1%+14.0pp -8.9%-19.9pp 11.0%+16.7pp -5.7%

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Frequently Asked Questions

Jerash Hldgs Us Inc (JRSH) reported $166.3M in total revenue for fiscal year 2026. This represents a 14.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Jerash Hldgs Us Inc (JRSH) revenue grew by 14% year-over-year, from $145.8M to $166.3M in fiscal year 2026.

Yes, Jerash Hldgs Us Inc (JRSH) reported a net income of $3.5M in fiscal year 2026, with a net profit margin of 2.1%.

Jerash Hldgs Us Inc (JRSH) reported diluted earnings per share of $0.27 for fiscal year 2026. This represents a 485.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Jerash Hldgs Us Inc (JRSH) had EBITDA of $6.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2026, Jerash Hldgs Us Inc (JRSH) had $10.8M in cash and equivalents against $2.8M in long-term debt.

Jerash Hldgs Us Inc (JRSH) had a gross margin of 16.1% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

Jerash Hldgs Us Inc (JRSH) had an operating margin of 3.8% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

Jerash Hldgs Us Inc (JRSH) had a net profit margin of 2.1% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Yes, Jerash Hldgs Us Inc (JRSH) paid $0.20 per share in dividends during fiscal year 2026.

Jerash Hldgs Us Inc (JRSH) has a return on equity of 5.5% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

Jerash Hldgs Us Inc (JRSH) generated -$2.6M in free cash flow during fiscal year 2026. This represents a -737.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Jerash Hldgs Us Inc (JRSH) generated $2.5M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

Jerash Hldgs Us Inc (JRSH) had $89.9M in total assets as of fiscal year 2026, including both current and long-term assets.

Jerash Hldgs Us Inc (JRSH) invested $5.1M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

Jerash Hldgs Us Inc (JRSH) had 13M shares outstanding as of fiscal year 2026.

Jerash Hldgs Us Inc (JRSH) had a current ratio of 2.70 as of fiscal year 2026, which is generally considered healthy.

Jerash Hldgs Us Inc (JRSH) had a debt-to-equity ratio of 0.04 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

Jerash Hldgs Us Inc (JRSH) had a return on assets of 3.9% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

Jerash Hldgs Us Inc (JRSH) has an Altman Z-Score of 4.55, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Jerash Hldgs Us Inc (JRSH) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Jerash Hldgs Us Inc (JRSH) has an earnings quality ratio of 0.71x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Jerash Hldgs Us Inc (JRSH) has an interest coverage ratio of 3.9x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Jerash Hldgs Us Inc (JRSH) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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