Willamette Valley Vineyards is an American winery located in Turner, Oregon. Named after Oregon's Willamette Valley, the winery is the leading producer of Willamette Valley-appellated Pinot Noir in Oregon, and also produces Chardonnay and Pinot Gris. In 2016, the winery was the largest producer of Riesling wine in the Willamette Valley.3 Its shares trade on Nasdaq under the symbol WVVI.1Wikipedia text CC BY-SA 4.0
Willamette Valley Vineyards is an American winery located in Turner, Oregon. Named after Oregon's Willamette Valley, the winery is the leading producer of Willamette Valley-appellated Pinot Noir in Oregon, and also produces Chardonnay and Pinot Gris. In 2016, the winery was the largest producer of Riesling wine in the Willamette Valley.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Cost of revenueSelling, general and adminOther costs
Cost of revenue40¢$14.7M
Selling, general and admin17¢$6.5M
Other costs39¢$14.5M
Interest3¢$1.2M
Income tax1¢$291.6K
Out of $37.2M in revenue.8 The company lost money this year.
Financial statements
Revenue9101112138$37.2M in 2025+50% since 2019Gross profit9101112138$22.5M in 2025+47% since 2019Operating income9101112138-$1.4M in 2025Net income9101112138-$917.7K in 2025
Revenue1415$10.0M in Q2 FY2026+22% since Q1 FY2026Gross profit1415$5.8M in Q2 FY2026+15% since Q1 FY2026Operating income1415-$1.4M in Q2 FY2026+100% since Q1 FY2026Net income1415-$1.4M in Q2 FY2026+146% since Q1 FY2026
Every line of the income statement as filed: the last 2 fiscal years, latest first.8
Period ending
2025-12-31
2024-12-31
SALES, NET
$37.2M
$39.8M
COST OF SALES
$14.7M
$15.6M
GROSS PROFIT
$22.5M
$24.2M
Sales and marketing
$17.4M
$17.1M
General and administrative
$6.5M
$6.5M
Total operating expenses
$23.9M
$23.6M
INCOME (LOSS) FROM OPERATIONS
-$1.4M
$571.9K
Interest expense, net
-$1.2M
-$1.0M
Other income, net
$1.4M
$99.6K
LOSS BEFORE INCOME TAXES
-$1.2M
-$344.7K
INCOME TAX BENEFIT
$291.6K
$226.8K
NET LOSS
-$917.7K
-$117.9K
Preferred stock dividends
-$2.3M
-$2.3M
LOSS APPLICABLE TO COMMON SHAREHOLDERS
-$3.2M
-$2.4M
Loss per common share after preferred dividends, basic and diluted
-$0.64
-$0.48
Weighted-average number of common shares outstanding, basic and diluted
5.0M shares
5.0M shares
No quarter-by-quarter statement was filed.
Total assets9101112138$107.7M in 2025+59% since 2019Total liabilities9101112138$41.5M in 2025+120% since 2019Shareholders’ equity101112138$66.2M in 2025+35% since 2019Cash101112138$410.9K in 2025−94% since 2019Long-term debt9101112138$14.0M in 2025+141% since 2019
Total assets1415$102.9M in Q2 FY2026−4% since Q1 FY2025Total liabilities1415$36.5M in Q2 FY2026−12% since Q1 FY2025Shareholders’ equity1415$66.4M in Q2 FY2026+0% since Q1 FY2025Cash1415$589.5K in Q2 FY2026+43% since Q1 FY2025Long-term debt1415$11.4M in Q2 FY2026−19% since Q1 FY2025
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.8
Period ending
2025-12-31
2024-12-31
2023-12-31
Cash and cash equivalents
$410.9K
$320.9K
$238.5K
Accounts receivable, net
$4.5M
$3.2M
Inventories
$33.4M
$32.9M
Prepaid expenses and other current assets
$659.0K
$519.6K
Income tax receivable
$44.1K
$19.3K
Total current assets
$39.0M
$36.9M
Other assets
$13.8K
$13.8K
Vineyard development costs, net
$8.6M
$8.8M
Property and equipment, net
$49.4M
$52.0M
Operating lease right of use assets
$10.7M
$11.3M
TOTAL ASSETS
$107.7M
$109.0M
Accounts payable
$1.5M
$1.6M
Accrued expenses
$1.9M
$2.1M
Investor deposits for preferred stock
$2.1M
Bank overdraft
$473.0K
Line of credit
$3.1M
$2.4M
Note payable
$884.2K
$996.0K
Current portion of long-term debt
$1.0M
$952.2K
Current portion of lease liabilities
$490.2K
$481.8K
Unearned revenue
$2.8M
$2.5M
Grapes payable
$654.8K
$1.5M
Total current liabilities
$14.5M
$13.0M
Long-term debt, net of current portion and debt issuance costs
$14.0M
$12.9M
Lease liabilities, net of current portion
$10.9M
$11.4M
Deferred income taxes
$2.2M
$2.5M
Total liabilities
$41.5M
$39.8M
Redeemable preferred stock, no par value, 100,000,000 shares authorized, 10,239,573 shares issued and outstanding, liquidation preference $42,494,228 at December 31, 2025 and December 31, 2024, respectively.
$43.4M
$43.4M
Common stock, no par value, 10,000,000 shares authorized, 4,979,529 shares issued and outstanding at December 31, 2025 and 4,964,529 shares issued and outstanding at December 31, 2024
$8.6M
$8.5M
Retained earnings
$14.2M
$17.4M
Total shareholders equity
$66.2M
$69.2M
$70.6M
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY
$107.7M
$109.0M
Preferred Stock, Par or Stated Value Per Share
$0.00
$0.00
Preferred Stock, Shares Authorized
100.0M shares
100.0M shares
Preferred Stock, Shares Issued
10.2M shares
10.2M shares
Preferred Stock, Shares Outstanding
10.2M shares
10.2M shares
Preferred Stock, Liquidation Preference, Value
$42.5M
$42.5M
Common Stock, Par or Stated Value Per Share
$0.00
$0.00
Common Stock, Shares Authorized
10.0M shares
10.0M shares
Common Stock, Shares, Issued
5.0M shares
5.0M shares
Common Stock, Shares, Outstanding
5.0M shares
5.0M shares
Period ending
2025-12-31
2024-12-31
2023-12-31
Cash and cash equivalents
$410.9K
$320.9K
$238.5K
Accounts receivable, net
$4.5M
$3.2M
Inventories
$33.4M
$32.9M
Prepaid expenses and other current assets
$659.0K
$519.6K
Income tax receivable
$44.1K
$19.3K
Total current assets
$39.0M
$36.9M
Other assets
$13.8K
$13.8K
Vineyard development costs, net
$8.6M
$8.8M
Property and equipment, net
$49.4M
$52.0M
Operating lease right of use assets
$10.7M
$11.3M
TOTAL ASSETS
$107.7M
$109.0M
Accounts payable
$1.5M
$1.6M
Accrued expenses
$1.9M
$2.1M
Investor deposits for preferred stock
$2.1M
Bank overdraft
$473.0K
Line of credit
$3.1M
$2.4M
Note payable
$884.2K
$996.0K
Current portion of long-term debt
$1.0M
$952.2K
Current portion of lease liabilities
$490.2K
$481.8K
Unearned revenue
$2.8M
$2.5M
Grapes payable
$654.8K
$1.5M
Total current liabilities
$14.5M
$13.0M
Long-term debt, net of current portion and debt issuance costs
$14.0M
$12.9M
Lease liabilities, net of current portion
$10.9M
$11.4M
Deferred income taxes
$2.2M
$2.5M
Total liabilities
$41.5M
$39.8M
Redeemable preferred stock, no par value, 100,000,000 shares authorized, 10,239,573 shares issued and outstanding, liquidation preference $42,494,228 at December 31, 2025 and December 31, 2024, respectively.
$43.4M
$43.4M
Common stock, no par value, 10,000,000 shares authorized, 4,979,529 shares issued and outstanding at December 31, 2025 and 4,964,529 shares issued and outstanding at December 31, 2024
$8.6M
$8.5M
Retained earnings
$14.2M
$17.4M
Total shareholders equity
$66.2M
$69.2M
$70.6M
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY
$107.7M
$109.0M
Preferred Stock, Par or Stated Value Per Share
$0.00
$0.00
Preferred Stock, Shares Authorized
100.0M shares
100.0M shares
Preferred Stock, Shares Issued
10.2M shares
10.2M shares
Preferred Stock, Shares Outstanding
10.2M shares
10.2M shares
Preferred Stock, Liquidation Preference, Value
$42.5M
$42.5M
Common Stock, Par or Stated Value Per Share
$0.00
$0.00
Common Stock, Shares Authorized
10.0M shares
10.0M shares
Common Stock, Shares, Issued
5.0M shares
5.0M shares
Common Stock, Shares, Outstanding
5.0M shares
5.0M shares
Cash from operations9101112138-$1.8M in 2025Capital spending9101112138$444.2K in 2025−90% since 2019Free cash flow9101112138-$2.2M in 2025+817% since 2019
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.8
Period ending
2025-12-31
2024-12-31
Net loss
-$917.7K
-$117.9K
Depreciation and amortization
$3.2M
$3.3M
Loss on disposition of property & equipment
$21.2K
Common stock compensation expense
$125.1K
Non-cash lease expense
$640.1K
$563.4K
Debt issuance costs
$20.1K
$13.2K
Deferred income taxes
-$356.0K
-$375.0K
Accounts receivable
-$1.4M
-$157.0K
Inventories
-$472.6K
-$4.6M
Prepaid expenses and other current assets
-$139.4K
$3.2K
Income tax receivable
-$24.9K
$102.7K
Unearned revenue
-$981.0K
-$851.1K
Lease liabilities
-$487.2K
-$455.2K
Grapes payable
-$864.3K
-$927.1K
Accounts payable
-$54.9K
-$383.5K
Accrued expenses
-$188.7K
$615.5K
Net cash from operating activities
-$1.8M
-$3.2M
Additions to vineyard development costs
-$58.7K
-$237.4K
Additions to property and equipment
-$444.2K
-$1.9M
Net cash from investing activities
-$502.9K
-$2.1M
Proceeds from investor deposits held as liability
$2.1M
Payment on installment note for property purchase
-$111.7K
-$104.8K
Proceeds from (payments on) bank overdraft
-$473.0K
$79.6K
Proceeds from (payments on) line of credit
$734.3K
-$279.2K
Payment of loan fees
-$86.2K
Payment on long-term debt
-$1.9M
-$3.5M
Proceeds from long-term debt
$3.0M
$10.0M
Proceeds from issuance of preferred stock
$250.5K
Payment of preferred stock dividend
-$965.2K
-$902.4K
Net cash from financing activities
$2.4M
$5.4M
NET CHANGE IN CASH AND CASH EQUIVALENTS
$90.0K
$82.4K
Purchases of property and equipment and vineyard development costs included in accounts payable
$27.9K
$10.5K
Reduction in investor deposits for preferred stock
$718.9K
Gift cards given in lieu of cash dividends
$1.3M
$1.4M
Right of use assets obtained in exchange for operating lease liabilities
Willamette Valley Vineyards sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Willamette Valley Vineyards
Carl D. Thoma Filed SCHEDULE 13G/A on Willamette Valley Vineyards, latest Aug 8, 2025
Willamette Valley VineyardsTurner, Oregon, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Willamette Valley Vineyards reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Vineyards – The Company owns or leases 1,018 acres of land, of which 704 acres is owned and 314 acres leased. Of the 1,018 acres of land owned or leased, 529 acres are productive vineyards, 272 acres are pre-productive vineyards or are suitable for future vineyard plantings, and 217 acres are not suitable for vineyard planting or are used or reserved for winery or hospitality purposes. See Item 1 Business - Vineyards, of this Annual Report on Form 10-K for the locations of each of the Company’s vineyards (both owned and leased) and other information pertaining to the production capacity, harvest totals and other important characteristics of each such vineyard.
Wine production facility – We believe the Company’s Estate Winery and production facilities are capable of efficiently producing up to 275,000 cases (654,000 gallons) of wine per year, depending on the type of wine produced. In 2025, the Winery produced approximately 158,707 cases (377,333 gallons) of wine, mostly from its 2024 and 2023 harvests. The Winery is 12,784 square feet in size and contains areas for processing, fermenting, aging, and bottling wine, as well as an underground wine cellar, meeting rooms, and administrative offices. There is a 12,500 square foot outside production area for harvesting, pressing and fermenting wine grapes. The Company also has a 23,000 square foot storage building to store its inventory of bottled product. The production area is equipped with a settling tank and sprinkler system for disposing of wastewater from the production process in compliance with environmental regulations. The Company’s main hospitality center is located at the Company’s Estate Winery (the “Hospitality Center”) and is a large 35,642 square foot tasting and hospitality facility. The Hospitality Center sits above the underground barrel cellar and tunnel that connects with the Winery. The facility includes a basement cellar, tunnel, and barrel room of 11,090 square feet used to store up to 1,800 barrels of wine for aging in the proper environment.
The rest of Item 2
The Company-owned Tualatin Estate Winery has 20,000 square feet of production capacity. This adds approximately 28,000 cases (66,000 gallons) of wine production capacity to the Company. The production capacity at the Tualatin Estate Winery is available to the Company to meet future production needs. The storage capacity at the Tualatin Estate Winery is periodically used to store excess bulk wine. Additionally, the Company operates a small retail store and tasting room at the Tualatin Estate Winery.
The Company-owned sparkling winery, Domaine Willamette, is located adjacent to Highway 99 in Dundee, Oregon, at Bernau Estate. Bernau Estate also features a tasting room and restaurant, retail bottle shop and residence, in addition to the winery.
The Company carries property and liability insurance coverage in amounts deemed adequate by management.
For additional discussion of vineyard and wine production facilities, see Item 1. Business.
Willamette Valley Vineyards was founded by Jim Bernau and Don Voorhies. In 1997, Willamette Valley Vineyards merged with Tualatin Estate Vineyards, which was established by Bill Fuller in 1973.
The winery was established via an early crowdfunding campaign. In 1989, around 1,200 shareholders invested an average of $1,700 each in an unlisted stock offering approved by Oregon regulators. By 1993, the number of shareholders had grown to 4,500 and many shareholders were directly involved with operations, collectively donating 6,000 to 7,000 hours of labor per month. Over 300 shareholders passed an OLCC class to be certified to pour wine in the tasting room. The winery is now listed on the NASDAQ under the symbol WVVI.
In 2021, the winery hosted the season 18 finale of Bravo's Top Chef: Portland.
In 2015, founder Jim Bernau and winery director Christine Clair founded the Oregon Estate Vineyards division to manage subsidiary vineyards.
Since 2007, Willamette Valley Vineyards has managed Elton Vineyards in the Eola-Amity Hills AVA. Elton Vineyards is primarily planted with Pinot Noir and Chardonnay. In 2017, Willamette Valley Vineyards began selling a boutique wine label under the "Elton" name.
In 2015, the company purchased new vineyard sites in the Walla Walla Valley AVA for a new subsidiary, "Pambrun Vineyard", named after Bernau's ancestor, Pierre Pambrun, a Walla Walla pioneer. Pambrun produces Cabernet Sauvignon along with other Bordeaux varieties. In 2018, Willamette Valley Vineyards acquired nearby Maison Bleue Winery, previously owned by Jon Meuret, who was also the consulting winemaker for Pambrun Vineyard.
Nov 12, 2026Reports results for the quarter ending Sep/202651
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
100 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 15 major events, 35 insider forms, 1 large holders, 29 other. The latest 20:
26 open-market trades by officers, directors and large owners since October 2021: 24 buys and 2 sales. Grants, option exercises and gifts are left out.
All 26 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
Carl D. ThomaSCHEDULE 13G/A, 1 filing Aug 8, 202552
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 35. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Willamette Valley Vineyards is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
From the cover page of the 10-K filed Mar 24, 2026 (Section 12(b) of the Exchange Act).16
Risk factors and legal proceedings
The risks Willamette Valley Vineyards names in Item 1A of its 10-K filed Mar 24, 2026: 20 risks under these headings, as written.16
Agricultural risks could adversely affect the Company
Our operations are susceptible to changing weather patterns and other environmental factors
We may not be able to economically insure certain risks
Loss of key employees could harm the Company’s reputation and business
The Company’s ability to operate requires adequate funding
Costs of being a publicly-held company may put the Company at a competitive disadvantage
The Company faces significant competition which could adversely affect profitability
The Willamette Valley AVA value may be eroded by out of state competition who use it inappropriately or as fanciful marketing
The Company competes for shelf space in retail stores and for marketing focus by its independent distributors, most of whom carry extensive product portfolios
Loss of the “Willamette Valley Vineyards” or “Willamette” trademarks could adversely affect the Company’s distinction within the AVA
Fluctuations in quantity and quality of grape supply could adversely affect the Company
Contamination of the Company’s wines would harm the Company’s business
The other 9 risks
A reduction in consumer demand for premium wines could harm the Company’s business
Changes in consumer spending could have a negative impact on the Company’s financial condition and business results
Increased regulation and/or taxation could adversely affect the Company
The Company’s common stock is thinly traded, and therefore not as liquid as other investments.
The Company may face liabilities associated with the offer and sale of its Preferred Stock.
The Company may be unable to pay accumulated dividends on its Preferred Stock.
The issuance of additional shares of our Preferred Stock or Common Stock in the future could adversely affect holders of Common Stock.
Failures or security breaches of our information technology systems could disrupt our operations and negatively impact our business.
The provisions in our articles of incorporation, our by-laws and Oregon law could delay or deter tender offers or takeover attempts that may offer a premium for our common stock.
Legal proceedings
Although the Company from time to time may be involved with disputes, claims and litigation related to the conduct of its business, there are no material legal proceedings pending to which the Company is a party or to which any of its property is subject, and the Company’s management does not know of any such action being contemplated.
