Crimson Wine Financials
This page shows Crimson Wine (CWGL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Stable gross margins are being overwhelmed by working-capital buildup and overhead that no longer shrink with sales.
From FY2023 to FY2025, inventory plus receivables expanded from$65.8M to$79.1M even as sales softened, which means more cash is getting trapped before it reaches the bank account. By FY2025, net income was still positive at$613K while free cash flow was-$2.5M , so reported profit and spendable cash were moving in different directions.
Gross margin held near
Liquidity is unusually strong for a company with negative free cash flow: cash was
Financial Health Signals
Based on FY2025 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 Crimson Wine'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.
Crimson Wine has an operating margin of -5.7%, meaning the company retains $-6 of operating profit per $100 of revenue. This below-average margin results in a low score of 17/100, suggesting thin profitability after operating expenses. This is down from 0.1% the prior year.
Crimson Wine's revenue declined 10.8% year-over-year, from $73.0M to $65.1M. This contraction results in a growth score of 25/100.
Crimson Wine carries a low D/E ratio of 0.08, meaning only $0.08 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.
With a current ratio of 9.62, Crimson Wine holds $9.62 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Crimson Wine generated $1.4M in operating cash flow, capex of $3.9M consumed most of it, leaving -$2.5M in free cash flow. This results in a low score of 15/100, reflecting heavy capital investment rather than weak cash generation.
Crimson Wine generates a 0.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 13/100. This is down from 0.5% the prior year.
Crimson Wine passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Crimson Wine generates $2.31 in operating cash flow ($1.4M OCF vs $613K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Crimson Wine earns $-5.0 in operating income for every $1 of interest expense (-$3.7M vs $741K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Crimson Wine generated $65.1M in revenue in fiscal year 2025. This represents a decrease of 10.8% from the prior year.
Crimson Wine's EBITDA was $3.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 56.0% from the prior year.
Crimson Wine reported $613K in net income in fiscal year 2025. This represents a decrease of 28.0% from the prior year.
Crimson Wine earned $0.03 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 25.0% from the prior year.
Cash & Balance Sheet
Crimson Wine generated -$2.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 7.1% from the prior year.
Crimson Wine held $20.6M in cash against $14.3M in long-term debt as of fiscal year 2025.
Crimson Wine had 21M shares outstanding in fiscal year 2025. This represents a decrease of 0.3% from the prior year.
Margins & Returns
Crimson Wine's gross margin was 47.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.8 percentage points from the prior year.
Crimson Wine's operating margin was -5.7% in fiscal year 2025, reflecting core business profitability. This is down 5.8 percentage points from the prior year.
Crimson Wine's net profit margin was 0.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.2 percentage points from the prior year.
Crimson Wine's ROE was 0.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the prior year.
Capital Allocation
Crimson Wine spent $351K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 85.2% from the prior year.
Crimson Wine invested $3.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 27.0% from the prior year.
CWGL Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.3M+52.5% | $13.3M-21.7% | $17.0M+17.6% | $14.5M-36.8% | $22.9M+35.4% | $16.9M-1.9% | $17.2M+8.3% | $15.9M |
| Cost of Revenue | $10.3M+46.3% | $7.0M-24.0% | $9.3M+18.4% | $7.8M-37.2% | $12.4M+41.1% | $8.8M+4.2% | $8.5M+2.7% | $8.2M |
| Gross Profit | $10.0M+59.4% | $6.3M-18.9% | $7.8M+16.6% | $6.6M-36.5% | $10.5M+29.2% | $8.1M-7.8% | $8.8M+14.2% | $7.7M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $8.3M+11.0% | $7.5M-8.5% | $8.2M-0.5% | $8.2M-3.6% | $8.5M+1.0% | $8.4M-3.0% | $8.7M+1.0% | $8.6M |
| Operating Income | -$589K+49.0% | -$1.2M-160.9% | -$443K+71.2% | -$1.5M-201.2% | $1.5M+605.3% | -$301K-554.3% | -$46K+95.8% | -$1.1M |
| Interest Expense | $227K+0.9% | $225K+262.9% | $62K-72.7% | $227K-4.6% | $238K+1.7% | $234K+239.1% | $69K-71.3% | $240K |
| Income Tax | $301K-29.3% | $426K+494.4% | -$108K+69.7% | -$356K-179.1% | $450K+3650.0% | $12K-76.5% | $51K+121.0% | -$243K |
| Net Income | $737K-21.8% | $943K+819.8% | -$131K+86.0% | -$936K-171.0% | $1.3M+3368.4% | $38K-70.3% | $128K+120.2% | -$633K |
| EPS (Diluted) | N/A | $0.05+600.0% | $-0.01+80.0% | $-0.05 | N/A | $0.00-100.0% | $0.01+133.3% | $-0.03 |
CWGL Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $215.5M-1.2% | $218.0M+2.9% | $212.0M+0.2% | $211.5M-3.1% | $218.2M-1.6% | $221.6M+3.2% | $214.8M+0.2% | $214.4M |
| Current Assets | $109.2M+8.5% | $100.7M+6.9% | $94.2M+1.1% | $93.1M-5.0% | $98.0M-2.2% | $100.2M+7.9% | $92.8M+0.2% | $92.6M |
| Cash & Equivalents | $20.6M-12.6% | $23.6M+6.1% | $22.2M+75.3% | $12.7M-39.8% | $21.0M-13.6% | $24.3M+44.3% | $16.9M-25.4% | $22.6M |
| Inventory | $67.0M-2.9% | $68.9M+12.1% | $61.5M-0.9% | $62.0M-0.1% | $62.1M-4.3% | $64.9M+13.0% | $57.4M-1.2% | $58.2M |
| Accounts Receivable | $12.1M+95.4% | $6.2M-28.9% | $8.7M+65.3% | $5.3M-43.6% | $9.4M+34.4% | $7.0M+18.2% | $5.9M-15.2% | $7.0M |
| Goodwill | $0-100.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M |
| Total Liabilities | $28.7M-10.3% | $32.0M+18.8% | $27.0M+2.5% | $26.3M-16.8% | $31.6M-12.3% | $36.0M+27.4% | $28.3M+1.8% | $27.8M |
| Current Liabilities | $11.3M-21.8% | $14.5M+51.2% | $9.6M+12.2% | $8.6M-34.9% | $13.1M-25.9% | $17.7M+82.2% | $9.7M+7.9% | $9.0M |
| Long-Term Debt | $14.3M-1.9% | $14.6M-1.9% | $14.8M-1.9% | $15.1M-1.8% | $15.4M-1.8% | $15.7M-1.8% | $16.0M-1.7% | $16.3M |
| Total Equity | $186.8M+0.4% | $186.0M+0.5% | $185.0M-0.1% | $185.2M-0.8% | $186.6M+0.5% | $185.6M-0.5% | $186.5M-0.1% | $186.6M |
| Retained Earnings | -$92.0M+0.8% | -$92.7M+1.0% | -$93.7M-0.2% | -$93.5M-1.4% | -$92.3M+1.0% | -$93.2M-0.5% | -$92.7M-0.3% | -$92.4M |
CWGL Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.7M-169.2% | $2.5M+360.7% | $540K+377.9% | $113K-51.1% | $231K-84.7% | $1.5M-67.0% | $4.6M+225.5% | -$3.7M |
| Capital Expenditures | $961K-30.0% | $1.4M-2.1% | $1.4M+649.2% | $187K-82.9% | $1.1M-52.6% | $2.3M+54.1% | $1.5M+220.8% | $467K |
| Free Cash Flow | -$2.7M-340.4% | $1.1M+229.6% | -$861K-1063.5% | -$74K+91.4% | -$864K-8.7% | -$795K-125.7% | $3.1M+175.0% | -$4.1M |
| Investing Cash Flow | -$966K-12.7% | -$857K-109.2% | $9.3M+218.6% | -$7.8M-180.6% | -$2.8M-141.7% | $6.7M+169.6% | -$9.6M-299.9% | $4.8M |
| Financing Cash Flow | -$285K-7.1% | -$266K+13.9% | -$309K+51.0% | -$631K+14.6% | -$739K+1.2% | -$748K-6.1% | -$705K+46.8% | -$1.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0+100.0% | -$19K-179.2% | $24K-93.1% | $346K-23.8% | $454K-1.9% | $463K+10.2% | $420K-59.7% | $1.0M |
CWGL Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 49.4%+2.2pp | 47.2%+1.6pp | 45.6%-0.4pp | 46.0%+0.3pp | 45.7%-2.2pp | 47.9%-3.1pp | 51.0%+2.7pp | 48.3% |
| Operating Margin | -2.9%+5.8pp | -8.7%-6.1pp | -2.6%+8.0pp | -10.7%-17.3pp | 6.6%+8.4pp | -1.8%-1.5pp | -0.3%+6.7pp | -6.9% |
| Net Margin | 3.6%-3.5pp | 7.1%+7.8pp | -0.8%+5.7pp | -6.5%-12.2pp | 5.8%+5.5pp | 0.2%-0.5pp | 0.7%+4.7pp | -4.0% |
| Return on Equity | 0.4%-0.1pp | 0.5%+0.6pp | -0.1%+0.4pp | -0.5%-1.2pp | 0.7%+0.7pp | 0.0%-0.1pp | 0.1%+0.4pp | -0.3% |
| Return on Assets | 0.3%-0.1pp | 0.4%+0.5pp | -0.1%+0.4pp | -0.4%-1.0pp | 0.6%+0.6pp | 0.0%-0.0pp | 0.1%+0.4pp | -0.3% |
| Current Ratio | 9.62+2.7 | 6.93-2.9 | 9.80-1.1 | 10.88+3.4 | 7.45+1.8 | 5.65-3.9 | 9.54-0.7 | 10.27 |
| Debt-to-Equity | 0.080.0 | 0.080.0 | 0.080.0 | 0.080.0 | 0.080.0 | 0.080.0 | 0.090.0 | 0.09 |
| FCF Margin | -13.2%-21.6pp | 8.4%+13.4pp | -5.1%-4.5pp | -0.5%+3.3pp | -3.8%+0.9pp | -4.7%-22.6pp | 17.9%+43.8pp | -25.9% |
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Frequently Asked Questions
What is Crimson Wine's annual revenue?
Crimson Wine (CWGL) reported $65.1M in total revenue for fiscal year 2025. This represents a -10.8% 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.
How fast is Crimson Wine's revenue growing?
Crimson Wine (CWGL) revenue declined by 10.8% year-over-year, from $73.0M to $65.1M in fiscal year 2025.
Is Crimson Wine profitable?
Yes, Crimson Wine (CWGL) reported a net income of $613K in fiscal year 2025, with a net profit margin of 0.9%.
What is Crimson Wine's EBITDA?
Crimson Wine (CWGL) had EBITDA of $3.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Crimson Wine have?
As of fiscal year 2025, Crimson Wine (CWGL) had $20.6M in cash and equivalents against $14.3M in long-term debt.
What is Crimson Wine's gross margin?
Crimson Wine (CWGL) had a gross margin of 47.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Crimson Wine's operating margin?
Crimson Wine (CWGL) had an operating margin of -5.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Crimson Wine's net profit margin?
Crimson Wine (CWGL) had a net profit margin of 0.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Crimson Wine's return on equity (ROE)?
Crimson Wine (CWGL) has a return on equity of 0.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Crimson Wine's free cash flow?
Crimson Wine (CWGL) generated -$2.5M in free cash flow during fiscal year 2025. This represents a 7.1% 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.
What is Crimson Wine's operating cash flow?
Crimson Wine (CWGL) generated $1.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Crimson Wine's total assets?
Crimson Wine (CWGL) had $215.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Crimson Wine's capital expenditures?
Crimson Wine (CWGL) invested $3.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Crimson Wine's current ratio?
Crimson Wine (CWGL) had a current ratio of 9.62 as of fiscal year 2025, which is generally considered healthy.
What is Crimson Wine's debt-to-equity ratio?
Crimson Wine (CWGL) had a debt-to-equity ratio of 0.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Crimson Wine's return on assets (ROA)?
Crimson Wine (CWGL) had a return on assets of 0.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Crimson Wine's Piotroski F-Score?
Crimson Wine (CWGL) 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.
Are Crimson Wine's earnings high quality?
Crimson Wine (CWGL) has an earnings quality ratio of 2.31x, considered cash-backed (high 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.
Can Crimson Wine cover its interest payments?
Crimson Wine (CWGL) has an interest coverage ratio of -5.0x, meaning it can struggle to 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.
How financially healthy is Crimson Wine?
Crimson Wine (CWGL) scores 45 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.