A Business at a Glance
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Camping World Holdings, Inc.
CWH
$639M
Mkt Cap
$5.71
+1.42%
Camping World Holdings, Inc. (CWH) has a 5-year average return on invested capital (ROIC) of 18.7%. This indicates strong capital allocation and a potential competitive advantage.
Camping World Holdings, Inc. (CWH) does not currently pay a regular dividend.
Camping World Holdings, Inc. (CWH) operates in the Retail-Auto Dealers & Gasoline Stations industry, within the Consumer Cyclical sector.
Camping World Holdings, Inc. (CWH) reported annual revenue of $6.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Camping World Holdings, Inc. (CWH) has a net profit margin of -1.4%. The company is currently unprofitable.
Camping World Holdings, Inc. (CWH) generated $-147 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Camping World Holdings, Inc. (CWH) has a debt-to-equity ratio of 10.24. This indicates higher leverage, which may increase financial risk.
Camping World Holdings, Inc. (together with its subsidiaries) is America’s largest retailer of RVs and related products and services. Through our Camping World and Good Sam brands, our vision is to make it easy for everyone to enjoy RVing and empower our customers’ joy of travel. We strive to build long-term value for our customers, employees, and stockholders by combining a comprehensive offering of RV products and services with a national network of RV dealerships, service centers and customer support centers. We also believe that our Good Sam organization and family of highly specialized services and plans, including roadside assistance, protection plans and insurance, uniquely enable us to protect our customers on the road ahead. On December 31, 2025, we operated a total of 196 store locations, with all locations selling and/or servicing RVs. Business Strategy To bond people with travel and the outdoors through RVing. We make it easy for everyone to enjoy RVing.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 6.3B | 6.4B | 6.1B | 6.2B | 7.0B | 6.9B |
| Net Income | -94M | -90M | -39M | 33M | 124M | 278M |
| EPS | $0.00 | - | - | - | - | - |
| Free Cash Flow | 20M | -147M | 237M | 305M | -21M | -94M |
| ROIC | -8.8% | 5.4% | 7.2% | 13.2% | 23.2% | 44.3% |
| Gross Margin | - | 29.5% | 29.9% | 30.2% | 32.5% | 35.5% |
| Debt/Equity | 6.59 | 10.24 | 7.17 | 14.08 | 15.94 | 14.25 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 181M | 180M | 149M | 267M | 569M | 800M |
| Operating Margin | 2.9% | 2.8% | 2.4% | 4.3% | 8.2% | 11.6% |
| ROE | -43.7% | -32.4% | -15.6% | 21.1% | 80.9% | 301.3% |
| Shares Outstanding | 0M | - | - | - | - | - |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.6B | 3.3B | 3.5B | 4.3B | 4.8B | 4.9B | 5.4B | 6.9B | 7.0B | 6.2B | 6.1B | 6.4B | 6.3B |
| Gross Margin | 28.3% | 27.4% | 26.2% | 29.7% | 25.4% | 26.3% | 31.3% | 35.5% | 32.5% | 30.2% | 29.9% | 29.5% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 536M | 635M | 692M | 853M | 1.1B | 1.1B | 1.2B | 1.6B | 1.6B | 1.5B | 1.6B | 1.6B | 1.6B |
| EBIT | 185M | 240M | 277M | 356M | 201M | 8.7M | 476M | 800M | 569M | 267M | 149M | 180M | 181M |
| Op. Margin | 7.0% | 7.3% | 7.9% | 8.3% | 4.2% | 0.2% | 8.7% | 11.6% | 8.2% | 4.3% | 2.4% | 2.8% | 2.9% |
| Net Income | 124M | 179M | 192M | 30M | 10M | -61M | 122M | 278M | 124M | 33M | -39M | -90M | -94M |
| Net Margin | 4.7% | 5.4% | 5.5% | 0.7% | 0.2% | -1.2% | 2.2% | 4.0% | 1.8% | 0.5% | -0.6% | -1.4% | -1.5% |
| Non-Recurring | -33K | 237K | 564K | 133K | 37M | 66M | 12M | 3.6M | 3.6M | 20M | 5.2M | 2.1M | 2.1M |
| Returns on Capital | |||||||||||||
| ROIC | 15.7% | 59.4% | 51.4% | 25.8% | 8.1% | 0.6% | 28.0% | 44.3% | 23.2% | 13.2% | 7.2% | 5.4% | -8.8% |
| ROE | -39.2% | -64.0% | -113.8% | 287.4% | 21.9% | N/A | 457.0% | 301.3% | 80.9% | 21.1% | -15.6% | -32.4% | -43.7% |
| ROA | 10.7% | 14.3% | 13.7% | 1.5% | 0.4% | -2.0% | 3.7% | 7.3% | 2.7% | 0.7% | -0.8% | -1.8% | -1.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 44M | 112M | 216M | -16M | 136M | 252M | 748M | 154M | 190M | 311M | 245M | -132M | 35M |
| Free Cash Flow | 44M | 112M | 159M | -97M | -118M | 164M | 663M | -94M | -21M | 305M | 237M | -147M | 20M |
| Owner Earnings | 19M | 88M | 189M | -53M | 73M | 179M | 675M | 40M | 76M | 218M | 142M | -272M | -102M |
| CapEx | 34K | 0 | 57M | 81M | 254M | 88M | 85M | 248M | 211M | 5.8M | 8.2M | 15M | 14M |
| Maint. CapEx | 25M | 24M | 25M | 32M | 49M | 60M | 52M | 66M | 80M | 69M | 81M | 95M | 96M |
| Growth CapEx | 0 | N/A | 32M | 49M | 205M | 28M | 33M | 181M | 130M | 0 | 0 | 0 | 0 |
| D&A | 25M | 24M | 25M | 32M | 49M | 60M | 52M | 66M | 80M | 69M | 81M | 95M | 96M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 41.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 1.5M | 22M | 23M | 23M | 61M | 67M | 105M | 67M | 25M | 31M | 24M |
| Dividend Yield | N/A | N/A | 0.0% | 3.6% | 3.4% | 7.3% | 9.1% | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 368K | 0 | 0 | 22M | 156M | 80M | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | 1.2% | 10.2% | 9.8% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | N/A | 1.6M | 5.1M | 14M | 13M | 21M | 48M | 34M | 24M | 22M | 44M | 42M |
| Debt Repayment | 14M | 37M | 289M | 7.9M | 83M | 12M | 20M | 20M | 3.2M | 937K | 64M | 56K | 56K |
| Balance Sheet | |||||||||||||
| Net Debt | 54M | 1.3B | 1.2B | 1.1B | 2.2B | 2.0B | 1.9B | 2.0B | 2.2B | 2.3B | 2.1B | 2.1B | 1.2B |
| Cash & Equiv. | 111M | 92M | 114M | 224M | 139M | 148M | 166M | 267M | 130M | 40M | 208M | 215M | 200M |
| Long-Term Debt | 116M | 673M | 645M | 937M | 1.2B | 1.2B | 1.1B | 1.4B | 1.5B | 1.5B | 1.5B | 1.4B | 1.4B |
| Debt/Equity | -0.66 | -4.55 | -42.76 | 25.65 | 52.78 | -64.73 | 75.55 | 14.25 | 15.94 | 14.08 | 7.17 | 10.24 | 6.59 |
| Interest Coverage | N/A | N/A | N/A | N/A | 2.1 | 0.1 | 381.6 | 339.8 | 113.6 | 44.0 | 16.0 | 20.6 | 21.1 |
| Equity | -251M | -307M | -30M | 51M | 45M | -33M | 27M | 158M | 148M | 168M | 327M | 229M | 215M |
| Total Assets | 1.2B | 1.3B | 1.5B | 2.6B | 2.8B | 3.4B | 3.3B | 4.4B | 4.8B | 4.9B | 4.9B | 5.0B | 5.1B |
| Total Liabilities | 1.4B | 1.7B | 1.6B | 2.5B | 2.8B | 3.5B | 3.3B | 4.1B | 4.6B | 4.6B | 4.4B | 4.7B | 4.8B |
| Intangibles | N/A | 1.7M | 3.4M | 39M | 35M | 30M | 30M | 31M | 21M | 14M | 19M | 16M | 15M |
| Retained Earnings | N/A | N/A | 71K | 7.6M | -3.4M | -83M | -22M | 189M | 221M | 196M | 132M | 11M | -5.4M |
| Working Capital | N/A | 180M | 258M | 476M | 583M | 395M | 459M | 686M | 611M | 401M | 590M | 435M | 390M |
| Current Assets | N/A | 1.0B | 1.1B | 1.8B | 1.9B | 1.7B | 1.5B | 2.3B | 2.5B | 2.3B | 2.3B | 2.6B | 2.7B |
| Current Liabilities | N/A | 865M | 868M | 1.3B | 1.3B | 1.3B | 1.0B | 1.6B | 1.9B | 1.9B | 1.7B | 2.2B | 2.3B |
| Per Share Data | |||||||||||||
| EPS | N/A | N/A | 0.07 | 1.12 | 0.28 | -1.62 | 3.09 | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Owner EPS | N/A | N/A | 0.07 | -1.99 | 1.96 | 4.78 | 17.05 | N/A | N/A | N/A | N/A | N/A | N/A |
| Book Value | N/A | N/A | -0.01 | 1.90 | 1.20 | -0.87 | 0.68 | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Cash Flow/Share | N/A | N/A | 0.08 | -0.61 | 3.67 | 6.74 | 18.88 | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Dividends/Share | N/A | N/A | 0.00 | 0.74 | 0.61 | 0.61 | 1.54 | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | N/A | N/A | 2.7B | 26.7M | 37.1M | 37.4M | 39.6M | N/A | N/A | N/A | N/A | N/A | 0.0M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 307.5 | 27.1 | 30.4 | N/A | 7.1 | 5.5 | 5.9 | 45.0 | N/A | N/A | N/A |
| P/FCF | N/A | N/A | 371.0 | N/A | N/A | 2.4 | 1.3 | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | 8.2 | 9.0 | 6.8 | 207.6 | 5.6 | 3.0 | 3.6 | 11.1 | 21.4 | 9.4 | 6.7 |
| Price/Book | N/A | N/A | N/A | 52.8 | 16.9 | N/A | 69.8 | 9.7 | 5.5 | 8.9 | 6.3 | 2.8 | N/A |
| Price/Sales | N/A | N/A | 0.4 | 0.5 | 0.3 | 0.2 | 0.3 | 0.2 | 0.1 | 0.2 | 0.4 | 0.2 | N/A |
| FCF Yield | N/A | N/A | 8.4% | -3.6% | -15.7% | 17.6% | 35.4% | -6.1% | -2.6% | 20.3% | 11.5% | -23.0% | N/A |
| Market Cap | 0 | N/A | 1.9B | 2.7B | 752M | 929M | 1.9B | 1.5B | 815M | 1.5B | 2.1B | 639M | 0 |
| Avg. Price | 0.00 | N/A | 16.66 | 23.18 | 17.77 | 8.36 | 16.91 | 30.86 | 23.95 | 22.06 | 21.74 | 16.07 | 5.71 |
| Year-End Price | 0.00 | N/A | 21.52 | 30.33 | 8.53 | 10.51 | 21.82 | 33.45 | 19.15 | 25.64 | 20.05 | 10.18 | 5.71 |
Camping World Holdings, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 18.7% with a gross margin of 31.5%. At current prices, the estimated annualized return to fair value is -3.6%.
Camping World Holdings, Inc. (CWH) has a return on equity (ROE) of -32.4%. A negative ROE may indicate losses or negative equity.
Camping World Holdings, Inc. (CWH) has a 5-year average gross margin of 31.5%. This indicates decent pricing power.
The Ledger Terminal provides 12 years of financial data for Camping World Holdings, Inc. (CWH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.