Latest Ratios: P/E Ratio -3.6x · EV/EBITDA 15.3x · ROE -21.0%. (2014–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $330M | $610M | $1.0B | $2.2B | $957M | $3.6B | $1.0B | $551M | $1.0B | $1.2B | $2.7B |
| Enterprise Value | $4.2B | $4.5B | $4.4B | $6.0B | $4.7B | $6.7B | $3.5B | $3.4B | $3.0B | $2.9B | $3.9B |
| P/E Ratio → | -3.63 | — | — | 46.07 | 6.93 | 6.66 | 8.43 | — | 40.96 | — | 362.11 |
| P/S Ratio | 0.05 | 0.10 | 0.17 | 0.36 | 0.14 | 0.52 | 0.19 | 0.11 | 0.21 | 0.28 | 0.77 |
| P/B Ratio | 0.88 | 1.64 | 2.09 | 10.42 | 3.86 | 15.50 | — | — | 30.97 | 6.60 | — |
| P/FCF | — | — | 6.56 | 20.23 | — | — | 1.57 | 3.37 | — | — | 16.33 |
| P/OCF | — | — | 4.13 | 7.18 | 5.04 | 23.55 | 1.39 | 2.19 | 7.48 | — | 12.18 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.70 | 0.73 | 0.97 | 0.67 | 0.97 | 0.63 | 0.69 | 0.62 | 0.67 | 1.10 |
| EV / EBITDA | 15.31 | 16.33 | 19.35 | 18.01 | 7.31 | 7.74 | 6.53 | 48.94 | 11.89 | 7.40 | 12.86 |
| EV / EBIT | 23.48 | 14.04 | 25.47 | 21.99 | 7.92 | 7.96 | 6.74 | 25.46 | 12.19 | 8.05 | 13.98 |
| EV / FCF | — | — | 28.81 | 54.82 | — | — | 5.21 | 20.55 | — | — | 23.22 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.5% | 29.5% | 29.9% | 30.2% | 32.5% | 35.7% | 31.3% | 27.2% | 28.4% | 29.0% | 28.3% |
| Operating Margin | 2.8% | 2.8% | 2.4% | 4.3% | 8.2% | 11.6% | 8.7% | 0.2% | 4.2% | 8.3% | 7.9% |
| Net Profit Margin | -1.4% | -1.4% | -0.6% | 0.5% | 2.0% | 4.0% | 2.2% | -1.2% | 0.2% | 0.7% | 5.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -21.0% | -21.0% | -11.1% | 14.5% | 56.9% | 247.9% | — | — | 9.8% | 39.2% | — |
| ROA | -1.8% | -1.8% | -0.8% | 0.7% | 3.0% | 7.2% | 3.6% | -1.9% | 0.4% | 1.4% | 13.0% |
| ROIC | 3.3% | 3.3% | 2.8% | 5.0% | 11.7% | 21.0% | 14.1% | 0.3% | 7.8% | 17.9% | 20.1% |
| ROCE | 5.9% | 5.9% | 4.9% | 9.2% | 19.9% | 31.6% | 21.4% | 0.5% | 14.2% | 35.1% | 46.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 10.97 | 10.97 | 7.51 | 18.00 | 15.56 | 14.29 | — | — | 63.67 | 10.55 | — |
| Debt / EBITDA | 14.89 | 14.89 | 15.85 | 11.48 | 6.02 | 3.86 | 4.88 | 43.08 | 8.37 | 4.91 | 4.20 |
| Net Debt / Equity | — | 10.39 | 7.08 | 17.81 | 15.03 | 13.15 | — | — | 59.46 | 9.30 | — |
| Net Debt / EBITDA | 14.11 | 14.11 | 14.95 | 11.37 | 5.82 | 3.55 | 4.56 | 40.93 | 7.82 | 4.33 | 3.82 |
| Debt / FCF | — | — | 22.25 | 34.59 | — | — | 3.64 | 17.18 | — | — | 6.89 |
| Interest Coverage | 4.15 | 4.15 | 0.74 | 1.26 | 5.02 | 13.80 | 6.88 | 1.21 | 2.40 | 5.04 | 4.13 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.20 | 1.20 | 1.35 | 1.21 | 1.33 | 1.43 | 1.44 | 1.30 | 1.45 | 1.36 | 1.31 |
| Quick Ratio | 0.23 | 0.23 | 0.27 | 0.16 | 0.19 | 0.31 | 0.35 | 0.26 | 0.25 | 0.29 | 0.26 |
| Cash Ratio | 0.10 | 0.10 | 0.12 | 0.02 | 0.07 | 0.17 | 0.16 | 0.11 | 0.11 | 0.17 | 0.13 |
| Asset Turnover | — | 1.26 | 1.25 | 1.28 | 1.45 | 1.58 | 1.64 | 1.41 | 1.71 | 1.61 | 2.25 |
| Inventory Turnover | 2.13 | 2.13 | 2.35 | 2.13 | 2.22 | 2.48 | 3.29 | 2.62 | 2.20 | 2.15 | 2.77 |
| Days Sales Outstanding | — | 9.85 | 10.87 | 11.04 | 8.53 | 8.41 | 8.82 | 9.46 | 10.58 | 10.76 | 9.08 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 9.7% | 5.2% | 2.4% | 4.4% | 28.1% | 7.2% | 19.0% | 16.9% | 1.2% | 1.9% | 0.1% |
| Payout Ratio | — | — | — | 294.7% | 196.0% | 93.7% | 161.8% | — | 114.0% | 74.5% | 0.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 2.2% | 14.4% | 15.0% | 11.9% | — | 2.4% | — | 0.3% |
| FCF Yield | — | — | 15.3% | 4.9% | — | — | 63.6% | 29.7% | — | — | 6.1% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.3% | 9.5% | 4.6% | 2.5% | 0.3% | 0.1% | 0.0% | 0.0% |
| Total Shareholder Yield | 9.7% | 5.2% | 2.4% | 4.7% | 37.6% | 11.8% | 21.5% | 17.2% | 1.3% | 1.9% | 0.1% |
| Shares Outstanding | — | $63M | $48M | $85M | $43M | $90M | $40M | $37M | $89M | $27M | $84M |
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying CWH stock.
Camping World Holdings, Inc.'s current P/E ratio is -3.6x. The historical average is 21.8x.
Camping World Holdings, Inc.'s current EV/EBITDA is 15.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.6x.
Camping World Holdings, Inc.'s return on equity (ROE) is -21.0%. The historical average is 48.0%.
Based on historical data, Camping World Holdings, Inc. is trading at a P/E of -3.6x. Compare with industry peers and growth rates for a complete picture.
Camping World Holdings, Inc.'s current dividend yield is 9.66%.
Camping World Holdings, Inc. has 29.5% gross margin and 2.8% operating margin.
Camping World Holdings, Inc.'s Debt/EBITDA ratio is 14.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Excessive debt-to-equity leverage
Metrics are mathematically derived from official filings.
Distressed Multiples Reflect Cyclical Headwinds
According to recent market data, CWH trades at a negative trailing P/E of -5.29, suggesting that investors are currently pricing the company based on its distressed asset value rather than normalized earnings potential, a significant departure from the valuation multiples observed in more stable automotive retail peers.
The forward P/E of 11.65 implies an expectation of earnings recovery, yet this remains highly speculative given the company's sensitivity to interest rates. The low P/S ratio of 0.08 underscores the market's skepticism regarding the company's ability to convert top-line revenue into meaningful shareholder value in the current high-cost environment.
Capital Efficiency Impaired by Leverage
Based on reported financial figures, CWH's ROIC has struggled to maintain positive territory, fluctuating between -1.2% and 2.3% over the last ten quarters, which indicates that the company is currently failing to generate returns that exceed its cost of capital, thereby eroding long-term shareholder value.
The volatility in ROIC is largely driven by the company's aggressive acquisition strategy and the subsequent integration costs, which have failed to yield consistent margin expansion. Investors should monitor whether management can improve capital allocation efficiency, as the current trend suggests a decay in the company's ability to compound returns.
Inventory Bloat Strains Working Capital
As reported in recent filings, the company's days inventory outstanding (DIO) has remained elevated, peaking at 228 days in 2025Q4, which highlights a significant inefficiency in inventory turnover compared to historical norms and suggests that the firm is struggling to clear stock in a softening consumer market.
The extended cash conversion cycle, which reached 223 days in late 2025, indicates that capital is being trapped in unsold inventory for extended periods. This inefficiency forces a greater reliance on floorplan financing, further exacerbating the company's interest expense burden and limiting its operational flexibility.
Debt Service Risks Remain Elevated
According to the company's balance sheet data, the debt-to-equity ratio remains alarmingly high at 7.73x as of 2026Q1, a level that warrants significant concern regarding the firm's ability to service its obligations should interest rates remain elevated or consumer demand for RVs continue to decline.
The interest coverage ratio, which has frequently dipped below 1.0x, suggests that the company is operating with a razor-thin margin of safety. This leverage profile leaves CWH highly vulnerable to credit market volatility, potentially forcing management to prioritize debt reduction over growth-oriented capital expenditures in the near term.
Misapplication of Standard P/E Metrics
The most commonly misapplied ratio for CWH is the trailing P/E, which obscures the company's true earning power by failing to account for the massive, non-cash depreciation and interest expenses associated with its inventory-heavy, debt-financed dealership model, leading to a distorted view of its fundamental valuation.
Analysts should instead focus on EV/EBITDA or normalized free cash flow, as these metrics better capture the operational cash generation before the impact of the company's aggressive capital structure. Relying on P/E in a cyclical downturn with high leverage risks misinterpreting a temporary earnings trough as a permanent impairment of the business model.