Jerash Holdings (US), Inc. (JRSH) intrinsic value & 10-year financials

Jerash Holdings (US), Inc. (JRSH) has a Graham intrinsic value of $4.02 per share. At $6.17 on Oct 17, 2026, the stock trades 53% above that value. Over the last 10 fiscal years revenue grew 11.3% a year to $145.8M, with an average return on invested capital of 18.4%.

Graham intrinsic value
$4.02
Share price (Oct 17, 2026)
$6.17
Price vs Graham value
53% above
Market cap
$76.1M
Revenue (FY2025)
$145.8M
Revenue growth (10-yr CAGR)
11.3%
ROIC (10-yr avg)
18.4%
Free cash flow (FY2025)
$413.5K

JRSH 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $145.8M -$848.4K -$0.07 $413.5K 1.0% 1.4%
FY2024 $117.2M -$2.0M -$0.16 $1.2M -0.6% -1.3%
FY2023 $138.1M $2.4M $0.19 $10.1M 3.2% 5.5%
FY2022 $143.4M $7.9M $0.67 $6.0M 7.3% 19.6%
FY2021 $90.2M $4.1M $0.37 -$2.4M 6.0% 12.5%
FY2020 $93.0M $6.5M $0.57 $2.2M 8.2% 22.4%
FY2019 $85.0M $5.1M $0.45 $9.0M 7.5% 12.2%
FY2018 $69.3M $10.4M $1.07 $4.3M 17.1% 37.6%
FY2017 $62.0M $10.7M — $7.2M 17.2% 55.7%
FY2016 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Jerash Holdings (US), Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Jerash Holdings (US), Inc. has earned high returns on invested capital, averaging 18.4% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.

Jerash Holdings (US), Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Jerash Holdings (US), Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $4.02 per share.

JRSH stock: frequently asked questions

What is the intrinsic value of Jerash Holdings (US), Inc. (JRSH) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 8.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, JRSH's intrinsic value is about $4.02 per share.

Is JRSH stock undervalued?

At $6.17 (close on Oct 17, 2026), JRSH trades 53% above its Graham value of $4.02. On Graham's terms the shares look fully priced. A formula is a starting point for research, not a recommendation.

Does Jerash Holdings (US), Inc. generate free cash flow?

Jerash Holdings (US), Inc. generated $413.5K of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 8 of the last 9 reported years.

What is JRSH's return on invested capital?

Average ROIC over the last 10 fiscal years was 18.4%, and average return on equity was 15.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this JRSH data come from?

From Jerash Holdings (US), Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Jun 18, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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