Crimson Wine Group, Ltd
CWGL · Beverages · 20.6M shares · -3%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $3M (gross $2M, SBC -$124K)
Reference price $4.05 · est. market cap ~$83M — last insider purchase, 2026-05-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C60Conservatively financed luxury-wine producer with a pristine balance sheet but near-zero returns and declining revenue.
Strengths
- Very strong liquidity/low leverage: current ratio 9.6 (95.5th), debt/equity 0.08, ~33 quarters runway
- Owns premier estate vineyards and a higher-margin direct-to-consumer channel
Risks
- Revenue down -10.8% (18.2nd pct), net income down -28%, ROE 0.3% and ROA 0.3% — barely profitable
- Discretionary-spend, weather/crop, and tariff (Canada) exposure pressure an already thin operating margin (-5.7%)
Notable findings
- Cash burnNegative free cash flow (-2.5M)
- Insider buyingInsider buying — 2 open-market buy(s) by 2 insider(s) (cluster of 2 insiders, last 6mo) Form 4 ↗
- Buying back stockNet buyback — share count -3%/yr over 4y
- Revenue declineRevenue -10.1% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
47.2%
Operating margin
-5.7%
Net margin
0.9%
Return on equity
0.3%
Return on assets
0.3%
ROIC
-1.5%
Revenue growth (QoQ)
-10.1%
Net-income growth
-28.0%
Debt / equity
0.1×
Net debt / EBITDA
-2.0×
Current ratio
9.6×
Free cash flow
-$3M
EBITDA
$3M
Tangible book value
$183M
Cash & investments
$21M
Cash runway
33q
Stock comp / revenue
0.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-22 | STEINBERG JOSEPH S | Buy | 7.5K | $4.05 |
| 2026-05-21 | Quille Nicolas Michel Eric | Buy | 1.0K | $4.03 |
| 2025-11-20 | STEINBERG JOSEPH S | Buy | 106K | $4.96 |
| 2025-11-20 | Cumming John D. | Buy | 106K | $4.96 |
| 2025-11-19 | Rollins Colby A. | Buy | 900 | $4.86 |
| 2025-11-14 | Quille Nicolas Michel Eric | Buy | 500 | $5.00 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-02-09 | Material agreementAcquisition/dispositionReg FDExhibits | filing ↗ |
| 2025-07-23 | Shareholder vote | filing ↗ |
| 2024-11-01 | Exec/director change | filing ↗ |
| 2024-07-29 | Shareholder vote | filing ↗ |
| 2024-07-25 | Cybersecurity | filing ↗ |
| 2024-07-05 | Other | filing ↗ |
| 2023-12-04 | Exec/director changeReg FDExhibits | filing ↗ |
| 2023-10-11 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-07 | 2026-03-31 | 0001628280-26-032083 ↗ |
| 10-K | 2026-03-17 | 2025-12-31 | 0001628280-26-018796 ↗ |
| 8-K | 2026-02-09 | 2026-02-09 | 0001628280-26-006389 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001628280-25-050240 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001562151-25-000029 ↗ |
| 8-K | 2025-07-23 | 2025-07-22 | 0001562151-25-000025 ↗ |
| 10-Q | 2025-05-08 | 2025-03-31 | 0001562151-25-000012 ↗ |
| 10-K | 2025-03-18 | 2024-12-31 | 0001562151-25-000007 ↗ |
| 10-Q | 2024-11-07 | 2024-09-30 | 0001562151-24-000045 ↗ |
| 8-K | 2024-11-01 | 2024-10-30 | 0001562151-24-000043 ↗ |
| 10-Q | 2024-08-12 | 2024-06-30 | 0001562151-24-000038 ↗ |
| 8-K | 2024-07-29 | 2024-07-26 | 0001562151-24-000034 ↗ |