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October 2010
Benchmarking Winery Financial Performance
by Douglas J. Jordan, Dan Aguilar and Armand Gilinsky, Jr.
Editor’ Note: There are only two known previous studies of financial ratios in the wine industry. The first was conducted in 2001 by researchers Rocci and Stefani, which provided financial data from 27 wineries and agricultural firms in Tuscany, Italy. The second is the very comprehensive 2009 Wine Industry Financial Benchmarking Report by Moss Adams and Demeter Group. The financial ratios portion of the 2009 Report focuses on year-over-year changes in winery profitability from 2...
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