(CWH) Camping World Holdings - Overview
Sector: Consumer Cyclical | Industry: Auto & Truck Dealerships | Exchange: NYSE (USA) | Market Cap: 473m USD | Total Return: -55.9% in 12m
Avg Turnover: 19.3M
Qual. Beats: 1
Rev. Trend: 2.1%
Qual. Beats: -1
Warnings
High Debt/EBITDA (6.6) with thin interest coverage (1.1)
High Debt while negative Cash Flow
Altman Z'' 1.06 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
Camping World Holdings, Inc. (CWH) is a specialized retailer of recreational vehicles (RVs) and associated outdoor products and services in the United States. The company operates through two primary segments: Good Sam Services and Plans, which focuses on recurring revenue through memberships and protection plans, and RV and Outdoor Retail, which manages the sale of new and used units alongside maintenance and parts.
The business model leverages a high-margin services and protection portfolio to offset the cyclical nature of vehicle sales. In the automotive retail sector, RV dealerships often rely on service and parts departments to maintain profitability during periods of high interest rates or reduced consumer discretionary spending. Camping World further diversifies its income through financing, insurance, and a peer-to-peer rental platform.
Investors can evaluate the companys valuation metrics and historical performance data on ValueRay to gain deeper insights. Founded in 1966 and headquartered in Illinois, the company utilizes an omnichannel approach, combining physical dealerships with e-commerce platforms to capture market share in the domestic outdoor lifestyle industry.
- Used RV sales volume and pricing drive gross margin expansion
- Interest rate sensitivity impacts consumer demand and inventory financing costs
- Good Sam membership growth generates high-margin recurring service revenue
- Strategic dealership acquisitions and footprint expansion accelerate market share gains
| Net Income: -93.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA -2.73 > 1.0 |
| NWC/Revenue: 6.19% < 20% (prev 8.28%; Δ -2.10% < -1%) |
| CFO/TA 0.01 > 3% & CFO 34.9m > Net Income -93.9m |
| Net Debt (3.50b) to EBITDA (528.3m): 6.63 < 3 |
| Current Ratio: 1.17 > 1.5 & < 3 |
| Outstanding Shares: last quarter (63.5m) vs 12m ago -38.03% < -2% |
| Gross Margin: 29.33% > 18% (prev 0.30%; Δ 2.90k% > 0.5%) |
| Asset Turnover: 122.7% > 50% (prev 119.5%; Δ 3.25% > 0%) |
| Interest Coverage Ratio: 1.14 > 6 (EBITDA TTM 528.3m / Interest Expense TTM 379.0m) |
| A: 0.08 (Total Current Assets 2.72b - Total Current Liabilities 2.33b) / Total Assets 5.14b |
| B: -0.00 (Retained Earnings -5.39m / Total Assets 5.14b) |
| C: 0.08 (EBIT TTM 432.8m / Avg Total Assets 5.14b) |
| D: -0.00 (Book Value of Equity -4.75m / Total Liabilities 4.79b) |
| Altman-Z'' = 1.06 = BB |
| DSRI: 0.45 (Receivables 123.2m/267.9m, Revenue 6.31b/6.15b) |
| GMI: 1.03 (GM 29.33% / 30.13%) |
| AQI: 0.80 (AQ_t 0.16 / AQ_t-1 0.20) |
| SGI: 1.03 (Revenue 6.31b / 6.15b) |
| TATA: -0.03 (NI -93.9m - CFO 34.9m) / TA 5.14b) |
| Beneish M = -3.58 (Cap -4..+1) = AAA |
As of May 31, 2026, the stock is trading at USD 7.33 with a total of 3,400,512 shares traded.
Over the past week, the price has changed by -0.68%,
over one month by +5.77%,
over three months by -11.90% and
over the past year by -55.89%.
Camping World Holdings has received a consensus analysts rating of 4.33. Therefore, it is recommended to buy CWH.
- StrongBuy: 6
- Buy: 4
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 13.5 | 84.2% |
P/E Forward = 13.6612
P/S = 0.075
P/B = 2.1808
P/EG = 1.7
Revenue TTM = 6.31b USD
EBIT TTM = 432.8m USD
EBITDA TTM = 528.3m USD
Long Term Debt = 1.39b USD (from longTermDebt, last quarter)
Short Term Debt = 1.77b USD (from shortTermDebt, last quarter)
Debt = 3.70b USD (from shortLongTermDebtTotal, last quarter) + Leases 1.00b
Net Debt = 3.50b USD (calculated: Debt 3.70b - CCE 199.8m)
Enterprise Value = 3.98b USD (473.2m + Debt 3.70b - CCE 199.8m)
Interest Coverage Ratio = 1.14 (Ebit TTM 432.8m / Interest Expense TTM 379.0m)
EV/FCF = -25.47x (Enterprise Value 3.98b / FCF TTM -156.1m)
FCF Yield = -3.93% (FCF TTM -156.1m / Enterprise Value 3.98b)
FCF Margin = -2.47% (FCF TTM -156.1m / Revenue TTM 6.31b)
Net Margin = -1.49% (Net Income TTM -93.9m / Revenue TTM 6.31b)
Gross Margin = 29.33% ((Revenue TTM 6.31b - Cost of Revenue TTM 4.46b) / Revenue TTM)
Gross Margin QoQ = 29.78% (prev 28.82%)
Tobins Q-Ratio = 0.77 (Enterprise Value 3.98b / Total Assets 5.14b)
Interest Expense / Debt = 10.23% (Interest Expense 379.0m / Debt 3.70b)
Taxrate = 21.0% (US default 21%)
NOPAT = 341.9m (EBIT 432.8m * (1 - 21.00%))
Current Ratio = 1.17 (Total Current Assets 2.72b / Total Current Liabilities 2.33b)
Debt / Equity = 17.23 (Debt 3.70b / totalStockholderEquity, last quarter 215.0m)
Debt / EBITDA = 6.63 (Net Debt 3.50b / EBITDA 528.3m)
Debt / FCF = -22.44 (negative FCF - burning cash) (Net Debt 3.50b / FCF TTM -156.1m)
Total Stockholder Equity = 270.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -1.83% (Net Income -93.9m / Total Assets 5.14b)
RoE = -34.10% (Net Income TTM -93.9m / Total Stockholder Equity 275.5m)
RoCE = 26.01% (EBIT 432.8m / Capital Employed (Equity 275.5m + L.T.Debt 1.39b))
RoIC = 7.58% (NOPAT 341.9m / Invested Capital 4.51b)
WACC = 8.67% (E(473.2m)/V(4.18b) * Re(13.29%) + D(3.70b)/V(4.18b) * Rd(10.23%) * (1-Tc(0.21)))
Discount Rate = 13.29% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: -6.67 | Cagr: -12.14%
[DCF] Fair Price = unknown (Cash Flow -156.1m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.00 | # QB: 1
Revenue Correlation: 2.08 | Revenue CAGR: 0.06% | SUE: -0.87 | # QB: -1
EPS current Quarter (2026-06-30): EPS=0.57 | Chg30d=-9.13% | Revisions=-23% | Analysts=12
EPS next Quarter (2026-09-30): EPS=0.54 | Chg30d=-7.47% | Revisions=-17% | Analysts=12
EPS current Year (2026-12-31): EPS=0.66 | Chg30d=+11.54% | Revisions=-7% | GrowthEPS=+246.9% | GrowthRev=+1.9%
EPS next Year (2027-12-31): EPS=1.13 | Chg30d=+7.69% | Revisions=+33% | GrowthEPS=+70.7% | GrowthRev=+6.5%
[Analyst] Revisions Ratio: +33%