Camping World Holdings, Inc. (CWH) 10-Year Financial Performance & Capital Metrics

CWH • • Industrial / General

Consumer CyclicalAuto DealershipsSpecialty Vehicle RetailersRecreational Vehicle Dealers

AboutCamping World Holdings, Inc., through its subsidiaries, retails recreational vehicles (RVs), and related products and services. It operates in two segments, Good Sam Services and Plans; and RV and Outdoor Retail. The company provides a portfolio of services, protection plans, products, and resources in the RV industry. It also offers extended vehicle service contracts; roadside assistance plans; property and casualty insurance programs; travel assist travel protection plans; and RV and outdoor related consumer shows, as well as produces various monthly and annual RV focused consumer magazines; and operates the Coast to Coast Club. In addition, the company provides new and used RVs; vehicle financing; RV repair and maintenance services; various RV parts, equipment, supplies, and accessories, which include towing and hitching products, satellite and GPS systems, electrical and lighting products, appliances and furniture, and other products; and collision repair services comprising fiberglass front and rear cap replacement, windshield replacement, interior remodel solutions, and paint and body work. Further, it offers equipment, gears, and supplies for camping, hunting, fishing, skiing, snowboarding, bicycling, skateboarding, and marine and watersports equipment and supplies, as well as operates Good Sam Club, a membership organization that offers savings on a range of products and services and provides co-branded credit cards. As of December 31, 2021, the company operated through a network of approximately 187 retail locations in 40 states of the United States. It serves customers through dealerships, and online and e-commerce platforms. The company was founded in 1966 and is headquartered in Lincolnshire, Illinois.Show more

Revenue $6.1B -2.0%
EBITDA $230M -31.6%
Net Income -$39M -215.8%
EPS (Diluted) -0.80 -245.5%
Gross Margin 29.93% -0.8%
EBITDA Margin 3.77% -30.1%
Operating Margin 2.44% -43.2%
Net Margin -0.63% -218.2%
ROE -11.05% -176.5%
ROIC 2.8% -44.0%
Debt/Equity 7.51 -58.3%
Interest Coverage 0.63 -48.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.1%
✓Healthy dividend yield of 4.0%
✓Share count reduced 43.5% through buybacks
✓Trading at only 1.3x book value
✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

✗High debt to equity ratio of 7.5x
✗Weak momentum: RS Rating 18 (bottom 18%)
✗Thin 5Y average net margin of 1.6%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.76%

5Y4.51%

3Y-4.09%

TTM6.58%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-127.1%

EPS CAGR

10Y-

5Y-

3Y-

TTM-34.78%

ROCE

10Y Avg23.18%

5Y Avg17.39%

3Y Avg11.33%

Latest4.89%

Peer Comparison

Recreational Vehicle Dealers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GORVLazydays Holdings, Inc.	1.57M	0.42	-0.00	-19.5%	-38.84%	-108.14%	100%	5.52
CWHCamping World Holdings, Inc.	815.4M	12.98	-16.23	-2.03%	-0.85%	-11.2%	18.93%	7.51

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.28B	3.52B	4.28B	4.79B	4.89B	5.45B	6.91B	6.97B	6.23B	6.1B
Revenue Growth %	0.24%	0.07%	0.22%	0.12%	0.02%	0.11%	0.27%	0.01%	-0.11%	-0.02%
Cost of Goods Sold+	2.38B	2.52B	3.04B	3.43B	3.56B	3.74B	4.44B	4.7B	4.35B	4.27B
COGS % of Revenue	0.73%	0.72%	0.71%	0.72%	0.73%	0.69%	0.64%	0.68%	0.7%	0.7%
Gross Profit+	899.03M	993.73M	1.24B	1.36B	1.33B	1.7B	2.47B	2.26B	1.88B	1.83B
Gross Margin %	0.27%	0.28%	0.29%	0.28%	0.27%	0.31%	0.36%	0.32%	0.3%	0.3%
Gross Profit Growth %	0.2%	0.11%	0.25%	0.1%	-0.02%	0.28%	0.45%	-0.08%	-0.17%	-0.03%
Operating Expenses+	658.75M	717.23M	884.96M	1.16B	1.32B	1.23B	1.67B	1.69B	1.61B	1.68B
OpEx % of Revenue	0.2%	0.2%	0.21%	0.24%	0.27%	0.23%	0.24%	0.24%	0.26%	0.27%
Selling, General & Admin	634.89M	691.88M	853.16M	1.07B	1.14B	1.14B	1.56B	1.6B	1.54B	1.57B
SG&A % of Revenue	0.19%	0.2%	0.2%	0.22%	0.23%	0.21%	0.23%	0.23%	0.25%	0.26%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	23.86M	25.35M	31.8M	92.56M	183.2M	87.56M	108.88M	93.8M	76.55M	107.18M
Operating Income+	240.27M	276.5M	355.95M	201.01M	8.75M	476.19M	799.54M	568.53M	267.07M	148.57M
Operating Margin %	0.07%	0.08%	0.08%	0.04%	0%	0.09%	0.12%	0.08%	0.04%	0.02%
Operating Income Growth %	0.3%	0.15%	0.29%	-0.44%	-0.96%	53.44%	0.68%	-0.29%	-0.53%	-0.44%
EBITDA+	264.37M	301.19M	387.5M	250.34M	68.68M	528.18M	865.96M	640.03M	335.72M	229.76M
EBITDA Margin %	0.08%	0.09%	0.09%	0.05%	0.01%	0.1%	0.13%	0.09%	0.05%	0.04%
EBITDA Growth %	0.26%	0.14%	0.29%	-0.35%	-0.73%	6.69%	0.64%	-0.26%	-0.48%	-0.32%
D&A (Non-Cash Add-back)	24.1M	24.7M	31.55M	49.32M	59.93M	51.98M	66.42M	71.5M	68.64M	81.19M
EBIT	240.04M	277.15M	356.21M	244.25M	132.02M	511.77M	842M	590.82M	274.98M	174.56M
Net Interest Income+	-64.63M	-67.17M	-70.65M	-101.64M	-109.47M	-74.38M	-61.02M	-117.78M	-218.34M	-235.56M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	64.63M	67.17M	70.65M	101.64M	109.47M	74.38M	61.02M	117.78M	218.34M	235.56M
Other Income/Expense	-64.62M	-69.53M	29.65M	-104.64M	-99.47M	-74.24M	-65.34M	-118.41M	-217.67M	-238.83M
Pretax Income+	179.89M	209.14M	389.96M	96.37M	-90.72M	401.96M	734.2M	450.12M	49.4M	-90.26M
Pretax Margin %	0.05%	0.06%	0.09%	0.02%	-0.02%	0.07%	0.11%	0.06%	0.01%	-0.01%
Income Tax+	1.36M	5.8M	154.91M	30.79M	29.58M	57.74M	92.12M	99.08M	-3.53M	-11.38M
Effective Tax Rate %	0.97%	0.9%	0.08%	0.11%	0.67%	0.3%	0.38%	0.3%	0.68%	0.43%
Net Income+	174.29M	188.88M	29.85M	10.4M	-60.59M	122.34M	278.46M	136.95M	33.37M	-38.64M
Net Margin %	0.05%	0.05%	0.01%	0%	-0.01%	0.02%	0.04%	0.02%	0.01%	-0.01%
Net Income Growth %	0.41%	0.08%	-0.84%	-0.65%	-6.83%	3.02%	1.28%	-0.51%	-0.76%	-2.16%
Net Income (Continuing)	174.29M	198.48M	230.69M	65.58M	-120.3M	344.21M	642.08M	351.03M	52.93M	-78.88M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	-103.19M	34.33M	-11.62M	-126.63M	-36.01M	75.84M	99.86M	89.62M	158.39M
EPS (Diluted)+	2.12	0.09	-0.70	0.28	-1.62	3.09	6.07	3.22	0.55	-0.80
EPS Growth %	0.4%	-0.96%	-8.78%	1.4%	-6.79%	2.91%	0.96%	-0.47%	-0.83%	-2.45%
EPS (Basic)	10.19	0.11	-0.70	0.28	-1.62	3.11	6.19	3.23	0.70	-0.80
Diluted Shares Outstanding	82.06M	83.6M	26.62M	88.88M	37.35M	40.01M	89.76M	42.85M	84.97M	48.01M
Basic Shares Outstanding	17.11M	18.77M	26.62M	36.98M	37.31M	39.38M	45.01M	42.39M	44.63M	48.01M
Dividend Payout Ratio	1.31%	0.01%	0.75%	1.14%	-	1.62%	0.94%	1.96%	2.95%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.06B	1.13B	1.8B	1.89B	1.69B	1.49B	2.28B	2.48B	2.35B	2.27B
Cash & Short-Term Investments	92.03M	114.2M	224.16M	138.56M	147.52M	166.07M	267.33M	130.13M	39.65M	208.42M
Cash Only	92.03M	114.2M	224.16M	138.56M	147.52M	166.07M	267.33M	130.13M	39.65M	208.42M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	78.25M	87.5M	126.11M	138.93M	126.79M	131.6M	159.38M	162.76M	188.3M	181.63M
Days Sales Outstanding	8.71	9.08	10.76	10.58	9.46	8.82	8.41	8.53	11.04	10.87
Inventory	868.94M	909.25M	1.42B	1.56B	1.36B	1.14B	1.79B	2.12B	2.04B	1.82B
Days Inventory Outstanding	133.27	131.56	170.06	165.94	139.21	110.81	147.31	164.77	171.5	155.57
Other Current Assets	0	0	0	0	57.83M	60.21M	0	0	78.22M	59.4M
Total Non-Current Assets+	285.82M	431.06M	852.09M	918.52M	1.77B	1.83B	2.09B	2.32B	2.5B	2.59B
Property, Plant & Equipment	149.72M	130.76M	198.02M	359.86M	1.12B	1.14B	1.35B	1.5B	1.57B	1.59B
Fixed Asset Turnover	21.90x	26.89x	21.61x	13.32x	4.36x	4.79x	5.12x	4.64x	3.95x	3.85x
Goodwill	112.94M	153.1M	348.39M	359.12M	386.94M	413.12M	483.63M	622.42M	711.22M	734.02M
Intangible Assets	1.65M	3.39M	38.71M	35.28M	29.71M	30.12M	30.97M	20.95M	13.72M	19.47M
Long-Term Investments	0	0	0	0	0	0	0	0	0	7.56M
Other Non-Current Assets	15.39M	17.93M	21.9M	18.33M	17.29M	15.87M	24.93M	29.3M	39.83M	29.69M
Total Assets+	1.34B	1.56B	2.65B	2.81B	3.46B	3.33B	4.37B	4.8B	4.85B	4.86B
Asset Turnover	2.44x	2.25x	1.61x	1.71x	1.41x	1.64x	1.58x	1.45x	1.28x	1.25x
Asset Growth %	0.16%	0.16%	0.7%	0.06%	0.23%	-0.04%	0.31%	0.1%	0.01%	0%
Total Current Liabilities+	863.1M	865.94M	1.32B	1.31B	1.3B	1.04B	1.6B	1.87B	1.95B	1.68B
Accounts Payable	56.79M	68.66M	125.62M	144.81M	106.96M	148.46M	136.76M	127.69M	133.52M	145.35M
Days Payables Outstanding	8.71	9.93	15.09	15.41	10.96	14.48	11.24	9.91	11.21	12.41
Short-Term Debt	650.51M	632.86M	984.35M	898.98M	920.73M	599.27M	1.03B	1.42B	1.39B	1.18B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	39.68M	73M	96.78M	138.51M	149.43M	155.78M	146.47M	114.75M	195.86M	113.55M
Current Ratio	1.23x	1.31x	1.36x	1.45x	1.30x	1.44x	1.43x	1.33x	1.21x	1.35x
Quick Ratio	0.22x	0.26x	0.29x	0.25x	0.26x	0.35x	0.31x	0.19x	0.16x	0.27x
Cash Conversion Cycle	133.27	130.71	165.73	161.11	137.71	105.15	144.48	163.39	171.33	154.02
Total Non-Current Liabilities+	769.87M	726.04M	1.15B	1.47B	2.32B	2.3B	2.54B	2.68B	2.68B	2.7B
Long-Term Debt	673.3M	620.3M	907.44M	1.19B	1.19B	1.14B	1.4B	1.51B	1.52B	1.49B
Capital Lease Obligations	751K	841K	10.22M	5.15M	843.31M	832.3M	849.64M	859.05M	861.71M	895.12M
Deferred Tax Liabilities	0	18.19M	129.6M	124.76M	81.83M	72.02M	0	5.98M	0	0
Other Non-Current Liabilities	43.66M	52.69M	168.76M	204.72M	143.69M	192.76M	223.41M	245.53M	235.31M	245.3M
Total Liabilities	1.63B	1.59B	2.47B	2.77B	3.62B	3.34B	4.14B	4.55B	4.63B	4.38B
Total Debt+	1.33B	1.26B	1.9B	2.1B	2.96B	2.58B	3.34B	3.85B	3.86B	3.64B
Net Debt	1.23B	1.15B	1.68B	1.96B	2.81B	2.41B	3.08B	3.72B	3.82B	3.43B
Debt / Equity	-	-	10.55x	63.67x	-	-	14.29x	15.56x	18.00x	7.51x
Debt / EBITDA	5.01x	4.20x	4.91x	8.37x	43.08x	4.88x	3.86x	6.02x	11.48x	15.85x
Net Debt / EBITDA	4.67x	3.82x	4.33x	7.82x	40.93x	4.56x	3.55x	5.82x	11.37x	14.95x
Interest Coverage	3.72x	4.12x	5.04x	1.98x	0.08x	6.40x	13.10x	4.83x	1.22x	0.63x
Total Equity+	-288.95M	-28.21M	180.36M	32.92M	-159.24M	-9.23M	233.89M	247.69M	214.21M	484.95M
Equity Growth %	-0.22%	0.9%	7.39%	-0.82%	-5.84%	0.94%	26.34%	0.06%	-0.14%	1.26%
Book Value per Share	-3.52	-0.34	6.77	0.37	-4.26	-0.23	2.61	5.78	2.52	10.10
Total Shareholders' Equity	-288.95M	74.98M	146.03M	44.54M	-32.6M	26.77M	158.06M	147.83M	124.58M	326.56M
Common Stock	0	195K	372K	377K	380K	433K	479K	480K	500K	629K
Retained Earnings	-288.95M	544K	-40.78M	-3.37M	-83.13M	-21.81M	189.47M	221.03M	185.24M	132.24M
Treasury Stock	0	0	0	0	0	-15.19M	-130.01M	-179.73M	-159.44M	0
Accumulated OCI	-138.55M	-142.78M	-161.81M	-200.55M	0	0	0	0	0	0
Minority Interest	0	-103.19M	34.33M	-11.62M	-126.63M	-36.01M	75.84M	99.86M	89.62M	158.39M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	112.14M	223.71M	-9.09M	136.29M	251.93M	747.67M	154M	189.78M	310.81M	245.16M
Operating CF Margin %	0.03%	0.06%	-0%	0.03%	0.05%	0.14%	0.02%	0.03%	0.05%	0.04%
Operating CF Growth %	1.55%	0.99%	-1.04%	15.99%	0.85%	1.97%	-0.79%	0.23%	0.64%	-0.21%
Net Income	178.53M	203.24M	232.97M	65.58M	-120.3M	344.21M	642.08M	351.03M	52.93M	-38.64M
Depreciation & Amortization	24.1M	24.7M	31.55M	49.32M	59.93M	51.98M	66.42M	80.3M	68.64M	81.19M
Stock-Based Compensation	0	1.6M	5.11M	14.09M	13.14M	20.66M	47.94M	33.85M	24.09M	0
Deferred Taxes	-181K	3.77M	24.93M	12.69M	4.89M	6.46M	-3.08M	43.19M	-16.65M	-12.95M
Other Non-Cash Items	8.85M	11.49M	6.27M	44.16M	128.18M	75.66M	63.95M	60.14M	58.21M	62.41M
Working Capital Changes	-99.16M	-21.07M	-309.92M	-49.55M	166.09M	248.69M	-663.3M	-378.73M	123.59M	153.14M
Change in Receivables	-8.84M	-10.93M	-38.02M	-16.55M	12.22M	-74.74M	-96.94M	669K	-23.96M	10.17M
Change in Inventory	-112.77M	-31.99M	-342.78M	-99.61M	216.11M	239.33M	-629.83M	-254.32M	200.94M	228.02M
Change in Payables	17.69M	20.33M	53.65M	45.23M	-12.59M	39.85M	52.69M	-42.3M	0	-8.91M
Cash from Investing+	-176.2M	-115.7M	-475.68M	-292.69M	-104.54M	-125.94M	-355.77M	-422.54M	-369.41M	-88.17M
Capital Expenditures	-71.71M	-56.86M	-89.52M	-254.36M	-88.36M	-85.1M	-253.51M	-211.48M	-198.27M	-90.98M
CapEx % of Revenue	0.02%	0.02%	0.02%	0.05%	0.02%	0.02%	0.04%	0.03%	0.03%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	20.7M	19.76M	5.27M	60.91M	35.63M	9.06M	139K	1.62M	41.77M	2.59M
Cash from Financing+	45.37M	-85.84M	594.74M	70.79M	-138.43M	-603.18M	303.03M	95.55M	-31.89M	11.79M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-228.89M	-1.51M	-22.24M	-22.7M	-93.07M	-198M	-260.91M	-268.35M	-98.34M	-24.75M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-3.32M	-243.23M	205.97M	-2.63M	-47K	4.63M	-21.74M	-2.58M	-7.41M	-24.09M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	40.43M	166.85M	-98.61M	-118.07M	163.58M	662.57M	-99.5M	-21.69M	110.31M	154.32M
FCF Margin %	0.01%	0.05%	-0.02%	-0.02%	0.03%	0.12%	-0.01%	-0%	0.02%	0.03%
FCF Growth %	14.25%	3.13%	-1.59%	-0.2%	2.39%	3.05%	-1.15%	0.78%	6.09%	0.4%
FCF per Share	0.49	2.00	-3.70	-1.33	4.38	16.56	-1.11	-0.51	1.30	3.21
FCF Conversion (FCF/Net Income)	0.64x	1.18x	-0.30x	13.11x	-4.16x	6.11x	0.55x	1.39x	9.31x	-6.35x
Interest Paid	0	0	0	0	0	0	58.42M	107M	214.08M	0
Taxes Paid	0	0	0	0	0	0	99.56M	54.58M	3.35M	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	39.24%	9.75%	-	-	247.89%	56.87%	14.45%	-11.05%
Return on Invested Capital (ROIC)	21.93%	20.07%	17.92%	7.84%	0.28%	14.14%	21.01%	11.71%	5.01%	2.8%
Gross Margin	27.42%	28.26%	28.99%	28.44%	27.18%	31.27%	35.75%	32.47%	30.17%	29.93%
Net Margin	5.32%	5.37%	0.7%	0.22%	-1.24%	2.25%	4.03%	1.97%	0.54%	-0.63%
Debt / Equity	-	-	10.55x	63.67x	-	-	14.29x	15.56x	18.00x	7.51x
Interest Coverage	3.72x	4.12x	5.04x	1.98x	0.08x	6.40x	13.10x	4.83x	1.22x	0.63x
FCF Conversion	0.64x	1.18x	-0.30x	13.11x	-4.16x	6.11x	0.55x	1.39x	9.31x	-6.35x
Revenue Growth	24.43%	7.24%	21.71%	11.97%	2.09%	11.34%	26.94%	0.77%	-10.63%	-2.03%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
RV and Outdoor Retail	-	-	-	-	-	-	-	6.03B	5.92B
RV and Outdoor Retail Growth	-	-	-	-	-	-	-	-	-1.92%
Good Sam Services and Plans	-	-	-	-	-	180.72M	192.13M	-	195.63M
Good Sam Services and Plans Growth	-	-	-	-	-	-	6.31%	-	-
Good Sam services and plans	-	-	-	-	-	-	-	193.83M	-
Good Sam services and plans Growth	-	-	-	-	-	-	-	-	-
Good Sam Services And Plans	-	-	-	179.54M	180.98M	-	-	-	-
Good Sam Services And Plans Growth	-	-	-	-	0.80%	-	-	-	-
Consumer Services And Plans	184.77M	195.61M	214.05M	-	-	-	-	-	-
Consumer Services And Plans Growth	-	5.87%	9.43%	-	-	-	-	-	-
Retail	3.34B	4.09B	-	-	-	-	-	-	-
Retail Growth	-	22.37%	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Camping World Holdings, Inc. (CWH) reported $6.40B in revenue for fiscal year 2024. This represents a 143% increase from $2.63B in 2014.

Camping World Holdings, Inc. (CWH) saw revenue decline by 2.0% over the past year.

Camping World Holdings, Inc. (CWH) reported a net loss of $54.1M for fiscal year 2024.

Dividend & Returns

Yes, Camping World Holdings, Inc. (CWH) pays a dividend with a yield of 3.97%. This makes it attractive for income-focused investors.

Camping World Holdings, Inc. (CWH) has a return on equity (ROE) of -11.1%. Negative ROE indicates the company is unprofitable.

Camping World Holdings, Inc. (CWH) had negative free cash flow of $233.7M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Camping World Holdings, Inc. (CWH) 10-Year Financial Performance & Capital Metrics

CWH • • Industrial / General

Consumer CyclicalAuto DealershipsSpecialty Vehicle RetailersRecreational Vehicle Dealers

Revenue $6.1B -2.0%
EBITDA $230M -31.6%
Net Income -$39M -215.8%
EPS (Diluted) -0.80 -245.5%
Gross Margin 29.93% -0.8%
EBITDA Margin 3.77% -30.1%
Operating Margin 2.44% -43.2%
Net Margin -0.63% -218.2%
ROE -11.05% -176.5%
ROIC 2.8% -44.0%
Debt/Equity 7.51 -58.3%
Interest Coverage 0.63 -48.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.1%
✓Healthy dividend yield of 4.0%
✓Share count reduced 43.5% through buybacks
✓Trading at only 1.3x book value
✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

✗High debt to equity ratio of 7.5x
✗Weak momentum: RS Rating 18 (bottom 18%)
✗Thin 5Y average net margin of 1.6%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.76%

5Y4.51%

3Y-4.09%

TTM6.58%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-127.1%

EPS CAGR

10Y-

5Y-

3Y-

TTM-34.78%

ROCE

10Y Avg23.18%

5Y Avg17.39%

3Y Avg11.33%

Latest4.89%

Peer Comparison

Recreational Vehicle Dealers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GORVLazydays Holdings, Inc.	1.57M	0.42	-0.00	-19.5%	-38.84%	-108.14%	100%	5.52
CWHCamping World Holdings, Inc.	815.4M	12.98	-16.23	-2.03%	-0.85%	-11.2%	18.93%	7.51

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.28B	3.52B	4.28B	4.79B	4.89B	5.45B	6.91B	6.97B	6.23B	6.1B
Revenue Growth %	0.24%	0.07%	0.22%	0.12%	0.02%	0.11%	0.27%	0.01%	-0.11%	-0.02%
Cost of Goods Sold+	2.38B	2.52B	3.04B	3.43B	3.56B	3.74B	4.44B	4.7B	4.35B	4.27B
COGS % of Revenue	0.73%	0.72%	0.71%	0.72%	0.73%	0.69%	0.64%	0.68%	0.7%	0.7%
Gross Profit+	899.03M	993.73M	1.24B	1.36B	1.33B	1.7B	2.47B	2.26B	1.88B	1.83B
Gross Margin %	0.27%	0.28%	0.29%	0.28%	0.27%	0.31%	0.36%	0.32%	0.3%	0.3%
Gross Profit Growth %	0.2%	0.11%	0.25%	0.1%	-0.02%	0.28%	0.45%	-0.08%	-0.17%	-0.03%
Operating Expenses+	658.75M	717.23M	884.96M	1.16B	1.32B	1.23B	1.67B	1.69B	1.61B	1.68B
OpEx % of Revenue	0.2%	0.2%	0.21%	0.24%	0.27%	0.23%	0.24%	0.24%	0.26%	0.27%
Selling, General & Admin	634.89M	691.88M	853.16M	1.07B	1.14B	1.14B	1.56B	1.6B	1.54B	1.57B
SG&A % of Revenue	0.19%	0.2%	0.2%	0.22%	0.23%	0.21%	0.23%	0.23%	0.25%	0.26%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	23.86M	25.35M	31.8M	92.56M	183.2M	87.56M	108.88M	93.8M	76.55M	107.18M
Operating Income+	240.27M	276.5M	355.95M	201.01M	8.75M	476.19M	799.54M	568.53M	267.07M	148.57M
Operating Margin %	0.07%	0.08%	0.08%	0.04%	0%	0.09%	0.12%	0.08%	0.04%	0.02%
Operating Income Growth %	0.3%	0.15%	0.29%	-0.44%	-0.96%	53.44%	0.68%	-0.29%	-0.53%	-0.44%
EBITDA+	264.37M	301.19M	387.5M	250.34M	68.68M	528.18M	865.96M	640.03M	335.72M	229.76M
EBITDA Margin %	0.08%	0.09%	0.09%	0.05%	0.01%	0.1%	0.13%	0.09%	0.05%	0.04%
EBITDA Growth %	0.26%	0.14%	0.29%	-0.35%	-0.73%	6.69%	0.64%	-0.26%	-0.48%	-0.32%
D&A (Non-Cash Add-back)	24.1M	24.7M	31.55M	49.32M	59.93M	51.98M	66.42M	71.5M	68.64M	81.19M
EBIT	240.04M	277.15M	356.21M	244.25M	132.02M	511.77M	842M	590.82M	274.98M	174.56M
Net Interest Income+	-64.63M	-67.17M	-70.65M	-101.64M	-109.47M	-74.38M	-61.02M	-117.78M	-218.34M	-235.56M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	64.63M	67.17M	70.65M	101.64M	109.47M	74.38M	61.02M	117.78M	218.34M	235.56M
Other Income/Expense	-64.62M	-69.53M	29.65M	-104.64M	-99.47M	-74.24M	-65.34M	-118.41M	-217.67M	-238.83M
Pretax Income+	179.89M	209.14M	389.96M	96.37M	-90.72M	401.96M	734.2M	450.12M	49.4M	-90.26M
Pretax Margin %	0.05%	0.06%	0.09%	0.02%	-0.02%	0.07%	0.11%	0.06%	0.01%	-0.01%
Income Tax+	1.36M	5.8M	154.91M	30.79M	29.58M	57.74M	92.12M	99.08M	-3.53M	-11.38M
Effective Tax Rate %	0.97%	0.9%	0.08%	0.11%	0.67%	0.3%	0.38%	0.3%	0.68%	0.43%
Net Income+	174.29M	188.88M	29.85M	10.4M	-60.59M	122.34M	278.46M	136.95M	33.37M	-38.64M
Net Margin %	0.05%	0.05%	0.01%	0%	-0.01%	0.02%	0.04%	0.02%	0.01%	-0.01%
Net Income Growth %	0.41%	0.08%	-0.84%	-0.65%	-6.83%	3.02%	1.28%	-0.51%	-0.76%	-2.16%
Net Income (Continuing)	174.29M	198.48M	230.69M	65.58M	-120.3M	344.21M	642.08M	351.03M	52.93M	-78.88M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	-103.19M	34.33M	-11.62M	-126.63M	-36.01M	75.84M	99.86M	89.62M	158.39M
EPS (Diluted)+	2.12	0.09	-0.70	0.28	-1.62	3.09	6.07	3.22	0.55	-0.80
EPS Growth %	0.4%	-0.96%	-8.78%	1.4%	-6.79%	2.91%	0.96%	-0.47%	-0.83%	-2.45%
EPS (Basic)	10.19	0.11	-0.70	0.28	-1.62	3.11	6.19	3.23	0.70	-0.80
Diluted Shares Outstanding	82.06M	83.6M	26.62M	88.88M	37.35M	40.01M	89.76M	42.85M	84.97M	48.01M
Basic Shares Outstanding	17.11M	18.77M	26.62M	36.98M	37.31M	39.38M	45.01M	42.39M	44.63M	48.01M
Dividend Payout Ratio	1.31%	0.01%	0.75%	1.14%	-	1.62%	0.94%	1.96%	2.95%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.06B	1.13B	1.8B	1.89B	1.69B	1.49B	2.28B	2.48B	2.35B	2.27B
Cash & Short-Term Investments	92.03M	114.2M	224.16M	138.56M	147.52M	166.07M	267.33M	130.13M	39.65M	208.42M
Cash Only	92.03M	114.2M	224.16M	138.56M	147.52M	166.07M	267.33M	130.13M	39.65M	208.42M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	78.25M	87.5M	126.11M	138.93M	126.79M	131.6M	159.38M	162.76M	188.3M	181.63M
Days Sales Outstanding	8.71	9.08	10.76	10.58	9.46	8.82	8.41	8.53	11.04	10.87
Inventory	868.94M	909.25M	1.42B	1.56B	1.36B	1.14B	1.79B	2.12B	2.04B	1.82B
Days Inventory Outstanding	133.27	131.56	170.06	165.94	139.21	110.81	147.31	164.77	171.5	155.57
Other Current Assets	0	0	0	0	57.83M	60.21M	0	0	78.22M	59.4M
Total Non-Current Assets+	285.82M	431.06M	852.09M	918.52M	1.77B	1.83B	2.09B	2.32B	2.5B	2.59B
Property, Plant & Equipment	149.72M	130.76M	198.02M	359.86M	1.12B	1.14B	1.35B	1.5B	1.57B	1.59B
Fixed Asset Turnover	21.90x	26.89x	21.61x	13.32x	4.36x	4.79x	5.12x	4.64x	3.95x	3.85x
Goodwill	112.94M	153.1M	348.39M	359.12M	386.94M	413.12M	483.63M	622.42M	711.22M	734.02M
Intangible Assets	1.65M	3.39M	38.71M	35.28M	29.71M	30.12M	30.97M	20.95M	13.72M	19.47M
Long-Term Investments	0	0	0	0	0	0	0	0	0	7.56M
Other Non-Current Assets	15.39M	17.93M	21.9M	18.33M	17.29M	15.87M	24.93M	29.3M	39.83M	29.69M
Total Assets+	1.34B	1.56B	2.65B	2.81B	3.46B	3.33B	4.37B	4.8B	4.85B	4.86B
Asset Turnover	2.44x	2.25x	1.61x	1.71x	1.41x	1.64x	1.58x	1.45x	1.28x	1.25x
Asset Growth %	0.16%	0.16%	0.7%	0.06%	0.23%	-0.04%	0.31%	0.1%	0.01%	0%
Total Current Liabilities+	863.1M	865.94M	1.32B	1.31B	1.3B	1.04B	1.6B	1.87B	1.95B	1.68B
Accounts Payable	56.79M	68.66M	125.62M	144.81M	106.96M	148.46M	136.76M	127.69M	133.52M	145.35M
Days Payables Outstanding	8.71	9.93	15.09	15.41	10.96	14.48	11.24	9.91	11.21	12.41
Short-Term Debt	650.51M	632.86M	984.35M	898.98M	920.73M	599.27M	1.03B	1.42B	1.39B	1.18B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	39.68M	73M	96.78M	138.51M	149.43M	155.78M	146.47M	114.75M	195.86M	113.55M
Current Ratio	1.23x	1.31x	1.36x	1.45x	1.30x	1.44x	1.43x	1.33x	1.21x	1.35x
Quick Ratio	0.22x	0.26x	0.29x	0.25x	0.26x	0.35x	0.31x	0.19x	0.16x	0.27x
Cash Conversion Cycle	133.27	130.71	165.73	161.11	137.71	105.15	144.48	163.39	171.33	154.02
Total Non-Current Liabilities+	769.87M	726.04M	1.15B	1.47B	2.32B	2.3B	2.54B	2.68B	2.68B	2.7B
Long-Term Debt	673.3M	620.3M	907.44M	1.19B	1.19B	1.14B	1.4B	1.51B	1.52B	1.49B
Capital Lease Obligations	751K	841K	10.22M	5.15M	843.31M	832.3M	849.64M	859.05M	861.71M	895.12M
Deferred Tax Liabilities	0	18.19M	129.6M	124.76M	81.83M	72.02M	0	5.98M	0	0
Other Non-Current Liabilities	43.66M	52.69M	168.76M	204.72M	143.69M	192.76M	223.41M	245.53M	235.31M	245.3M
Total Liabilities	1.63B	1.59B	2.47B	2.77B	3.62B	3.34B	4.14B	4.55B	4.63B	4.38B
Total Debt+	1.33B	1.26B	1.9B	2.1B	2.96B	2.58B	3.34B	3.85B	3.86B	3.64B
Net Debt	1.23B	1.15B	1.68B	1.96B	2.81B	2.41B	3.08B	3.72B	3.82B	3.43B
Debt / Equity	-	-	10.55x	63.67x	-	-	14.29x	15.56x	18.00x	7.51x
Debt / EBITDA	5.01x	4.20x	4.91x	8.37x	43.08x	4.88x	3.86x	6.02x	11.48x	15.85x
Net Debt / EBITDA	4.67x	3.82x	4.33x	7.82x	40.93x	4.56x	3.55x	5.82x	11.37x	14.95x
Interest Coverage	3.72x	4.12x	5.04x	1.98x	0.08x	6.40x	13.10x	4.83x	1.22x	0.63x
Total Equity+	-288.95M	-28.21M	180.36M	32.92M	-159.24M	-9.23M	233.89M	247.69M	214.21M	484.95M
Equity Growth %	-0.22%	0.9%	7.39%	-0.82%	-5.84%	0.94%	26.34%	0.06%	-0.14%	1.26%
Book Value per Share	-3.52	-0.34	6.77	0.37	-4.26	-0.23	2.61	5.78	2.52	10.10
Total Shareholders' Equity	-288.95M	74.98M	146.03M	44.54M	-32.6M	26.77M	158.06M	147.83M	124.58M	326.56M
Common Stock	0	195K	372K	377K	380K	433K	479K	480K	500K	629K
Retained Earnings	-288.95M	544K	-40.78M	-3.37M	-83.13M	-21.81M	189.47M	221.03M	185.24M	132.24M
Treasury Stock	0	0	0	0	0	-15.19M	-130.01M	-179.73M	-159.44M	0
Accumulated OCI	-138.55M	-142.78M	-161.81M	-200.55M	0	0	0	0	0	0
Minority Interest	0	-103.19M	34.33M	-11.62M	-126.63M	-36.01M	75.84M	99.86M	89.62M	158.39M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	112.14M	223.71M	-9.09M	136.29M	251.93M	747.67M	154M	189.78M	310.81M	245.16M
Operating CF Margin %	0.03%	0.06%	-0%	0.03%	0.05%	0.14%	0.02%	0.03%	0.05%	0.04%
Operating CF Growth %	1.55%	0.99%	-1.04%	15.99%	0.85%	1.97%	-0.79%	0.23%	0.64%	-0.21%
Net Income	178.53M	203.24M	232.97M	65.58M	-120.3M	344.21M	642.08M	351.03M	52.93M	-38.64M
Depreciation & Amortization	24.1M	24.7M	31.55M	49.32M	59.93M	51.98M	66.42M	80.3M	68.64M	81.19M
Stock-Based Compensation	0	1.6M	5.11M	14.09M	13.14M	20.66M	47.94M	33.85M	24.09M	0
Deferred Taxes	-181K	3.77M	24.93M	12.69M	4.89M	6.46M	-3.08M	43.19M	-16.65M	-12.95M
Other Non-Cash Items	8.85M	11.49M	6.27M	44.16M	128.18M	75.66M	63.95M	60.14M	58.21M	62.41M
Working Capital Changes	-99.16M	-21.07M	-309.92M	-49.55M	166.09M	248.69M	-663.3M	-378.73M	123.59M	153.14M
Change in Receivables	-8.84M	-10.93M	-38.02M	-16.55M	12.22M	-74.74M	-96.94M	669K	-23.96M	10.17M
Change in Inventory	-112.77M	-31.99M	-342.78M	-99.61M	216.11M	239.33M	-629.83M	-254.32M	200.94M	228.02M
Change in Payables	17.69M	20.33M	53.65M	45.23M	-12.59M	39.85M	52.69M	-42.3M	0	-8.91M
Cash from Investing+	-176.2M	-115.7M	-475.68M	-292.69M	-104.54M	-125.94M	-355.77M	-422.54M	-369.41M	-88.17M
Capital Expenditures	-71.71M	-56.86M	-89.52M	-254.36M	-88.36M	-85.1M	-253.51M	-211.48M	-198.27M	-90.98M
CapEx % of Revenue	0.02%	0.02%	0.02%	0.05%	0.02%	0.02%	0.04%	0.03%	0.03%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	20.7M	19.76M	5.27M	60.91M	35.63M	9.06M	139K	1.62M	41.77M	2.59M
Cash from Financing+	45.37M	-85.84M	594.74M	70.79M	-138.43M	-603.18M	303.03M	95.55M	-31.89M	11.79M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-228.89M	-1.51M	-22.24M	-22.7M	-93.07M	-198M	-260.91M	-268.35M	-98.34M	-24.75M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-3.32M	-243.23M	205.97M	-2.63M	-47K	4.63M	-21.74M	-2.58M	-7.41M	-24.09M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	40.43M	166.85M	-98.61M	-118.07M	163.58M	662.57M	-99.5M	-21.69M	110.31M	154.32M
FCF Margin %	0.01%	0.05%	-0.02%	-0.02%	0.03%	0.12%	-0.01%	-0%	0.02%	0.03%
FCF Growth %	14.25%	3.13%	-1.59%	-0.2%	2.39%	3.05%	-1.15%	0.78%	6.09%	0.4%
FCF per Share	0.49	2.00	-3.70	-1.33	4.38	16.56	-1.11	-0.51	1.30	3.21
FCF Conversion (FCF/Net Income)	0.64x	1.18x	-0.30x	13.11x	-4.16x	6.11x	0.55x	1.39x	9.31x	-6.35x
Interest Paid	0	0	0	0	0	0	58.42M	107M	214.08M	0
Taxes Paid	0	0	0	0	0	0	99.56M	54.58M	3.35M	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	39.24%	9.75%	-	-	247.89%	56.87%	14.45%	-11.05%
Return on Invested Capital (ROIC)	21.93%	20.07%	17.92%	7.84%	0.28%	14.14%	21.01%	11.71%	5.01%	2.8%
Gross Margin	27.42%	28.26%	28.99%	28.44%	27.18%	31.27%	35.75%	32.47%	30.17%	29.93%
Net Margin	5.32%	5.37%	0.7%	0.22%	-1.24%	2.25%	4.03%	1.97%	0.54%	-0.63%
Debt / Equity	-	-	10.55x	63.67x	-	-	14.29x	15.56x	18.00x	7.51x
Interest Coverage	3.72x	4.12x	5.04x	1.98x	0.08x	6.40x	13.10x	4.83x	1.22x	0.63x
FCF Conversion	0.64x	1.18x	-0.30x	13.11x	-4.16x	6.11x	0.55x	1.39x	9.31x	-6.35x
Revenue Growth	24.43%	7.24%	21.71%	11.97%	2.09%	11.34%	26.94%	0.77%	-10.63%	-2.03%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
RV and Outdoor Retail	-	-	-	-	-	-	-	6.03B	5.92B
RV and Outdoor Retail Growth	-	-	-	-	-	-	-	-	-1.92%
Good Sam Services and Plans	-	-	-	-	-	180.72M	192.13M	-	195.63M
Good Sam Services and Plans Growth	-	-	-	-	-	-	6.31%	-	-
Good Sam services and plans	-	-	-	-	-	-	-	193.83M	-
Good Sam services and plans Growth	-	-	-	-	-	-	-	-	-
Good Sam Services And Plans	-	-	-	179.54M	180.98M	-	-	-	-
Good Sam Services And Plans Growth	-	-	-	-	0.80%	-	-	-	-
Consumer Services And Plans	184.77M	195.61M	214.05M	-	-	-	-	-	-
Consumer Services And Plans Growth	-	5.87%	9.43%	-	-	-	-	-	-
Retail	3.34B	4.09B	-	-	-	-	-	-	-
Retail Growth	-	22.37%	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Camping World Holdings, Inc. (CWH) reported $6.40B in revenue for fiscal year 2024. This represents a 143% increase from $2.63B in 2014.

Camping World Holdings, Inc. (CWH) saw revenue decline by 2.0% over the past year.

Camping World Holdings, Inc. (CWH) reported a net loss of $54.1M for fiscal year 2024.

Dividend & Returns

Yes, Camping World Holdings, Inc. (CWH) pays a dividend with a yield of 3.97%. This makes it attractive for income-focused investors.

Camping World Holdings, Inc. (CWH) has a return on equity (ROE) of -11.1%. Negative ROE indicates the company is unprofitable.

Camping World Holdings, Inc. (CWH) had negative free cash flow of $233.7M in fiscal year 2024, likely due to heavy capital investments.