NAPA (Duckhorn Portfolio Inc) vs S&P 500 Comparison

NAPA

S&P 500

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NAPA

S&P 500

Difference

1Y 3Y 5Y 10Y 15Y 20Y

NAPA

S&P 500

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Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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S&P 500

NAPA

600519

000858

DGE

600809

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1Y 3Y 5Y 10Y 15Y 20Y

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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Duckhorn Portfolio Inc
Glance View

Market Cap

1.6B USD

Industry

Beverages

Nestled in the heart of California's Napa Valley, Duckhorn Portfolio Inc. is a compelling narrative in the world of luxury wine production. Founded in 1976 by Dan and Margaret Duckhorn, the company has grown into a preeminent multi-brand wine company, renowned for crafting high-quality, luxury wines. Its journey from a single vineyard vision to a distinguished family of wineries reflects a deep-seated commitment to excellence in viticulture and winemaking. This growth rests on a foundational strategy of acquiring and developing premium vineyards across California and Washington State, regions known for their rich soils and optimal climates, ideal for producing distinctive wines. Through a portfolio that spans Duckhorn Vineyards, Decoy, Goldeneye, Paraduxx, Calera, Kosta Browne, and Canvasback, the company is able to cater to diverse palates, offering a range from delicate Pinot Noirs to bold Bordeaux varietals. Duckhorn's business model is meticulously crafted, capitalizing on both direct-to-consumer sales and a vast distribution network reaching wholesale channels. This dual approach allows them to capture premium pricing for their products while ensuring vast market reach. Beyond just selling a bottle, Duckhorn emphasizes the cultivation of brand loyalty and craftsmanship reputation, integral to how luxury wine commands substantial margins. The company's marketing revolves around wine clubs, exclusive tasting rooms, and savvy digital platforms that enhance consumer engagement and direct sales channels. This approach not only sustains but amplifies their economic resilience, navigating the dynamics of both domestic and international markets, while consistently expanding their influence in the global wine industry.

View NAPA Analysis

NAPA Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

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UK		Diageo PLC LSE:DGE	Add
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CN		Shanxi Xinghuacun Fen Wine Factory Co Ltd SSE:600809	Add
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CN		Kweichow Moutai Co Ltd SSE:600519	Select
CN		Wuliangye Yibin Co Ltd SZSE:000858	Select
UK		Diageo PLC LSE:DGE	Select
ZA	D	Distell Group Holdings Ltd JSE:DGH	Select
CN		Shanxi Xinghuacun Fen Wine Factory Co Ltd SSE:600809	Select
US		Constellation Brands Inc NYSE:STZ	Select
FR		Pernod Ricard SA PAR:RI	Select
CN		Luzhou Laojiao Co Ltd SZSE:000568	Select
US		Brown-Forman Corp NYSE:BF.B	Select
CN		Jiangsu Yanghe Brewery Joint-Stock Co Ltd SZSE:002304	Select

CN		Kweichow Moutai Co Ltd SSE:600519	Add
CN		Wuliangye Yibin Co Ltd SZSE:000858	Add
UK		Diageo PLC LSE:DGE	Add
ZA	D	Distell Group Holdings Ltd JSE:DGH	Add
CN		Shanxi Xinghuacun Fen Wine Factory Co Ltd SSE:600809	Add
US		Constellation Brands Inc NYSE:STZ	Add
FR		Pernod Ricard SA PAR:RI	Add
CN		Luzhou Laojiao Co Ltd SZSE:000568	Add
US		Brown-Forman Corp NYSE:BF.B	Add
CN		Jiangsu Yanghe Brewery Joint-Stock Co Ltd SZSE:002304	Add

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NAPA

vs

S&P 500

Stocks Performance
NAPA vs S&P 500

Performance Gap
NAPA vs S&P 500

Performance By Year
NAPA vs S&P 500

Competitors Performance
Duckhorn Portfolio Inc vs Peers

Duckhorn Portfolio Inc
Glance View

Company

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NAPA vs S&P 500

Stocks Performance NAPA vs S&P 500

Performance Gap NAPA vs S&P 500

Performance By Year NAPA vs S&P 500

Competitors Performance Duckhorn Portfolio Inc vs Peers

Duckhorn Portfolio Inc Glance View

Company

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Stocks

NAPA

vs

S&P 500

Stocks Performance
NAPA vs S&P 500

Performance Gap
NAPA vs S&P 500

Performance By Year
NAPA vs S&P 500

Competitors Performance
Duckhorn Portfolio Inc vs Peers

Duckhorn Portfolio Inc
Glance View