Camping World Holdings, Inc. (CWH) Financials

CWH

Trailing 12 months to June 30, 2026

Revenue $6.3B -0.8% YoY

Net Income -$97.3M n/m YoY

Operating Cash Flow $245.8M +111.5% YoY

Gross Profit $1.8B -5.3% YoY

Market Cap $289.1M as of Oct 22, 2026

Price / Sales 0.0x on $6.3B revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 1.2x on $245.7M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 22, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 31, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CWH SEC filings page.

Camping World Holdings, Inc. (CWH) reported $6.3B in revenue over the twelve months to Jun 30, 2026, down 0.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CWH FY2025 2026-10-03

Revenue recovered in FY2025, but thinner margins and inventory-heavy working capital left cash generation dependent on financing.

Cash conversion reversed: operating cash flow moved from $245M in FY2024 to -$132M in FY2025, even though operating income remained positive, so reported earnings no longer translated into cash. The working-capital mechanism is visible in inventory rising to $2.1B and receivables to $170M, tying up funds inside the operating cycle.

Margin compression is structural across the recent period: gross margin declined from 32.5% in FY2022 to 29.5% in FY2025, so the revenue recovery did not restore earlier unit economics. Operating margin reached 2.8% and operating income $180M, pointing to modest cost absorption rather than a full margin reset.

Leverage leaves little equity cushion: FY2025 liabilities were $4.7B against $5.0B of assets, while debt-to-equity was 6.2x. The 1.2x current ratio and $340M of financing cash inflow show a balance sheet relying on external funding alongside operating cash generation.

Financial Health Signals

Financial Health Score (5 of 6 dimensions) 34/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Camping World Holdings, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Camping World Holdings, Inc. has an operating margin of 2.8%, meaning the company retains $3 of operating profit per $100 of revenue. This results in a moderate score of 44/100, indicating healthy but not exceptional operating efficiency. This is up from 2.4% the prior year.

Growth

Camping World Holdings, Inc.'s revenue grew a modest 4.4% year-over-year to $6.4B. This slow but positive growth earns a score of 34/100.

Leverage

Camping World Holdings, Inc. has elevated debt relative to equity (D/E of 6.18), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 13/100, reflecting increased financial risk.

Liquidity

Camping World Holdings, Inc.'s current ratio of 1.20 is below the typical benchmark, resulting in a score of 29/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

n/a

Not available for Camping World Holdings, Inc., so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.

Returns

Camping World Holdings, Inc. posts a -39.3% return on equity (ROE), meaning it loses $39 for every $100 of shareholders' equity. This results in a returns score of 50/100. This is down from -11.8% the prior year.

Altman Z-Score Distress

1.52

Camping World Holdings, Inc. scores 1.52, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

2/8

Camping World Holdings, Inc. passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). No profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.

Earnings Quality No Cash Backing

N/A

Camping World Holdings, Inc. reported a net loss of $89.8M while operations used $132.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.9B

YoY-2.1%

QoQ+42.8%

5Y CAGR-1.3%

10Y CAGR+6.1%

Camping World Holdings, Inc. generated $1.9B in revenue in Q2 2026. This represents a decrease of 2.1% from the same quarter a year earlier. Against the prior quarter it is up 42.8%.

EBITDA

$116.5M

YoY-24.2%

QoQ+160.0%

5Y CAGR-18.2%

10Y CAGR+0.6%

Camping World Holdings, Inc.'s EBITDA was $116.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 24.2% from the same quarter a year earlier. Against the prior quarter it is up 160.0%.

Net Income

$26.9M

YoY-11.1%

QoQn/m

5Y CAGR-24.5%

10Y CAGR-10.8%

Camping World Holdings, Inc. reported $26.9M in net income in Q2 2026. This represents a decrease of 11.1% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$224.1M

YoY+89.8%

QoQ+12.1%

5Y CAGR+3.2%

10Y CAGR+19.1%

Camping World Holdings, Inc. held $224.1M in cash against $1.4B in long-term debt as of Q2 2026.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Shares Outstanding

Not reported for Q2 2026.

Margins & Returns

Gross Margin

27.8%

YoY-2.1pp

QoQ-1.9pp

5Y change-9.0pp

Camping World Holdings, Inc.'s gross margin was 27.8% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.9 percentage points.

Operating Margin

4.8%

YoY-1.8pp

QoQ+3.1pp

5Y change-10.0pp

10Y change-5.0pp

Camping World Holdings, Inc.'s operating margin was 4.8% in Q2 2026, reflecting core business profitability. This is down 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.1 percentage points.

Net Margin

1.4%

YoY-0.1pp

QoQ+2.6pp

5Y change-3.9pp

10Y change-6.5pp

Camping World Holdings, Inc.'s net profit margin was 1.4% in Q2 2026, showing the share of revenue converted to profit. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.6 percentage points.

Return on Equity

10.9%

YoY+2.1pp

QoQ+18.6pp

5Y change-54.5pp

Camping World Holdings, Inc.'s quarterly ROE was 10.9% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 18.6 percentage points.

Capital Allocation

None of these metrics is reported for Q2 2026.

CWH Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CWH quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K
Revenue	$6.3B	$6.4B+4.4%	$6.1B-2.0%	$6.2B-10.6%	$7.0B+0.8%	$6.9B+26.9%	$5.4B+11.3%	$4.9B+2.1%	$4.8B+12.0%	$4.3B+21.7%	$3.5B+7.2%	$3.3B+24.4%	$2.6B
Cost of Revenue	$4.5B	$4.5B+5.1%	$4.3B-1.7%	$4.3B-7.6%	$4.7B+5.5%	$4.5B+19.1%	$3.7B+3.9%	$3.6B+73463.7%	$4.9M+19.5%	$4.1M+78.3%	$2.3M-99.9%	$2.4B+26.0%	$1.9B
Gross Profit	$1.8B	$1.9B+2.8%	$1.8B-2.8%	$1.9B-17.0%	$2.3B-7.9%	$2.5B+44.3%	$1.7B+32.2%	$1.3B-73.1%	$4.8B+12.0%	$4.3B+21.7%	$3.5B+290.9%	$899.0M+20.5%	$746.2M
SG&A Expenses	$1.5B	$1.6B+1.9%	$1.6B+2.2%	$1.5B-4.2%	$1.6B+2.1%	$1.6B+36.1%	$1.2B+1.3%	$1.1B+6.8%	$1.1B+25.3%	$853.2M+23.3%	$691.9M+9.0%	$634.9M+18.3%	$536.5M
Operating Income	$143.0M	$180.2M+21.3%	$148.6M-44.4%	$267.1M-53.0%	$568.5M-28.9%	$799.5M+67.9%	$476.2M+5344.1%	$8.7M-95.6%	$201.0M-43.5%	$356.0M+28.7%	$276.5M+15.1%	$240.3M+29.8%	$185.1M
EBITDA	N/A	$275.5M+19.9%	$229.8M-31.6%	$335.7M-48.3%	$648.8M-25.1%	$866.0M+64.0%	$528.2M+669.1%	$68.7M-72.6%	$250.3M-35.4%	$387.5M+28.7%	$301.2M+13.9%	$264.4M+26.1%	$209.7M
Income Tax	$212.2M	$225.8Mn/m	-$11.4Mn/m	-$3.5M-103.1%	$112.3M+21.9%	$92.1M+59.5%	$57.7M+95.2%	$29.6M-3.9%	$30.8M-80.1%	$154.9M+2570.9%	$5.8M+327.7%	$1.4M-36.6%	$2.1M
Net Income	-$97.3M	-$89.8Mn/m	-$38.6M-215.8%	$33.4M-73.0%	$123.7M-55.6%	$278.5M+127.6%	$122.3Mn/m	-$60.6M-682.7%	$10.4M-65.2%	$29.9M-84.2%	$188.9M+8.4%	$174.3M+41.0%	$123.6M
EPS (Basic)	N/A	N/A	N/A	N/A	N/A	N/A	$3.11n/m	-$1.62	$0.28	$1.12	$0.08	N/A	N/A
EPS (Diluted)	—	N/A	N/A	N/A	N/A	N/A	$3.09n/m	-$1.62	$0.28	$1.12	$0.07	N/A	N/A
Diluted Shares (Avg)	N/A	N/A	N/A	N/A	N/A	N/A	40M+7.1%	37M	89M	27M	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$1.9B-2.1%	$1.4B-4.2%	$1.2B-2.6%	$1.8B+4.7%	$2.0B+9.4%	$1.4B+3.6%	$1.2B+8.6%	$1.7B-0.3%
Cost of Revenue	$1.4B+0.9%	$951.3M-3.3%	$835.3M+0.9%	$1.3B+5.1%	$1.4B+9.9%	$983.9M+2.3%	$827.5M+8.1%	$1.2B+1.7%
Gross Profit	$538.4M-9.1%	$403.3M-6.1%	$338.2M-10.3%	$517.0M+3.7%	$592.3M+8.1%	$429.6M+6.8%	$376.9M+9.7%	$498.5M-4.7%
SG&A Expenses	$410.9M-6.1%	$358.3M-7.5%	$367.3M-0.1%	$411.0M-0.8%	$437.5M+4.2%	$387.4M+4.3%	$367.8M+9.1%	$414.2M-0.3%
Operating Income	$91.8M-29.5%	$22.1M+6.0%	-$50.0Mn/m	$79.1M+22.9%	$130.3M+36.6%	$20.8M+393.7%	-$15.5Mn/m	$64.4M-26.7%
EBITDA	$116.5M-24.2%	$44.8M+3.3%	-$26.3M-551.4%	$104.8M+23.3%	$153.7M+33.2%	$43.4M+84.5%	$5.8M-17.3%	$85.0M-19.5%
Income Tax	$1.4M-92.5%	-$84Kn/m	$3.5Mn/m	$207.5Mn/m	$18.3M+130.9%	-$3.5Mn/m	-$8.2Mn/m	-$2.0M-155.7%
Net Income	$26.9M-11.1%	-$16.4Mn/m	-$67.3Mn/m	-$40.4M-835.1%	$30.2M+209.2%	-$12.3Mn/m	-$31.6Mn/m	$5.5M-65.5%

Not reported in any period shown, so not listed: R&D Expenses, Interest Expense, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

CWH Balance Sheet

CWH quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K
Total Assets	$5.0B+3.7%	$4.9B-0.5%	$4.9B+1.9%	$4.8B+9.8%	$4.4B+34.3%	$3.3B-3.5%	$3.4B+20.3%	$2.8B+9.3%	$2.6B+76.3%	$1.5B+9.3%	$1.3B+15.2%	$1.2B
Current Assets	$2.6B+15.3%	$2.3B-3.3%	$2.3B-5.4%	$2.5B+8.7%	$2.3B+52.8%	$1.5B-11.6%	$1.7B-10.5%	$1.9B+4.5%	$1.8B+60.5%	$1.1B+7.7%	$1.0B	N/A
Cash & Equivalents	$215.0M+3.2%	$208.4M+425.7%	$39.6M-69.5%	$130.1M-51.3%	$267.3M+61.0%	$166.1M+12.6%	$147.5M+6.5%	$138.6M-38.2%	$224.2M+96.3%	$114.2M+24.1%	$92.0M-16.9%	$110.7M
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Inventory	$2.1B+15.9%	$1.8B-10.8%	$2.0B-3.8%	$2.1B+18.5%	$1.8B+57.8%	$1.1B-16.4%	$1.4B-12.9%	$1.6B+10.1%	$1.4B+56.9%	$902.7M+5.4%	$856.3M+27.6%	$670.9M
Accounts Receivable	$170.5M+41.6%	$120.4M-6.0%	$128.1M+13.9%	$112.4M+10.6%	$101.6M+21.8%	$83.4M+1.9%	$81.8M-4.5%	$85.7M+7.3%	$79.9M+36.6%	$58.5M+3.8%	$56.4M	N/A
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Goodwill	$749.3M+2.1%	$734.0M+3.2%	$711.2M+14.3%	$622.4M+28.7%	$483.6M+17.1%	$413.1M+6.8%	$386.9M+7.7%	$359.1M+3.1%	$348.4M+127.6%	$153.1M+35.5%	$112.9M+85.0%	$61.1M
Total Liabilities	$4.7B+6.7%	$4.4B-5.5%	$4.6B+1.7%	$4.6B+10.0%	$4.1B+26.7%	$3.3B-7.6%	$3.5B+27.5%	$2.8B+11.2%	$2.5B+56.0%	$1.6B-2.4%	$1.6B	N/A
Current Liabilities	$2.2B+29.9%	$1.7B-13.7%	$1.9B+4.0%	$1.9B+17.1%	$1.6B+54.3%	$1.0B-20.1%	$1.3B-0.7%	$1.3B-2.0%	$1.3B+53.3%	$868.4M+0.4%	$865.1M	N/A
Non-Current Liabilities	$2.5B-7.7%	$2.7B+0.5%	$2.7B+0.1%	$2.7B+5.5%	$2.5B+13.9%	$2.2B-0.4%	$2.2B+52.5%	$1.5B+26.2%	$1.2B+59.1%	$731.5M-5.6%	$774.6M	N/A
Long-Term Debt	$1.4B-5.3%	$1.5B-0.4%	$1.5B+1.0%	$1.5B+7.7%	$1.4B+22.7%	$1.1B-2.7%	$1.2B-2.6%	$1.2B+26.4%	$937.1M+45.3%	$645.0M	N/A	N/A
Total Equity	$228.6M-30.0%	$326.6M+94.0%	$168.4M+13.9%	$147.8M-6.5%	$158.1M+490.3%	$26.8Mn/m	-$32.6M-173.2%	$44.5M-11.8%	$50.5Mn/m	-$29.7Mn/m	-$307.2M	N/A
Retained Earnings	$11.0M-91.7%	$132.2M-32.4%	$195.6M-11.5%	$221.0M+16.7%	$189.5Mn/m	-$21.8Mn/m	-$83.1Mn/m	-$3.4M-144.2%	$7.6M+10631.0%	$71K	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$4.9B-6.4%	$5.1B-0.2%	$5.0B+3.7%	$5.0B+6.6%	$5.2B+3.7%	$5.1B+1.6%	$4.9B-0.5%	$4.7B+0.7%
Current Assets	$2.5B-3.9%	$2.7B+8.5%	$2.6B+15.3%	$2.6B+22.7%	$2.6B+6.0%	$2.5B+2.7%	$2.3B-3.3%	$2.1B-4.3%
Cash & Equivalents	$224.1M+89.8%	$199.8M+855.4%	$215.0M+3.2%	$230.5M+712.2%	$118.1M+397.3%	$20.9M-29.6%	$208.4M+425.7%	$28.4M-46.8%
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Inventory	$1.9B-9.7%	$2.2B+3.2%	$2.1B+15.9%	$2.0B+13.7%	$2.1B+2.3%	$2.1B+2.0%	$1.8B-10.8%	$1.8B-4.7%
Accounts Receivable	$162.0M+17.5%	$123.2M+3.7%	$170.5M+41.6%	$122.4M+3.4%	$137.8M+6.9%	$118.8M+18.5%	$120.4M-6.0%	$118.3M-12.9%
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Goodwill	$751.7M+0.4%	$751.6M+0.5%	$749.3M+2.1%	$749.0M+2.2%	$748.6M+2.4%	$747.8M+1.6%	$734.0M+3.2%	$732.8M+6.5%
Total Liabilities	$4.5B-4.6%	$4.8B+2.1%	$4.7B+6.7%	$4.5B+1.0%	$4.7B-2.5%	$4.7B-3.7%	$4.4B-5.5%	$4.5B+2.0%
Current Liabilities	$2.0B-1.0%	$2.3B+16.7%	$2.2B+29.9%	$2.0B+19.5%	$2.0B0.0%	$2.0B-3.0%	$1.7B-13.7%	$1.7B+1.9%
Non-Current Liabilities	$2.5B-7.4%	$2.5B-8.7%	$2.5B-7.7%	$2.5B-10.5%	$2.6B-4.3%	$2.7B-4.3%	$2.7B+0.5%	$2.8B+2.0%
Long-Term Debt	$1.4B-7.1%	$1.4B-6.7%	$1.4B-5.3%	$1.5B-3.1%	$1.5B-2.0%	$1.5B-3.7%	$1.5B-0.4%	$1.5B-1.1%
Total Equity	$245.7M-27.8%	$215.0M-30.8%	$228.6M-30.0%	$296.2M+95.4%	$340.5M+127.5%	$310.5M+117.5%	$326.6M+94.0%	$151.6M+1.6%
Retained Earnings	$21.5M-84.0%	-$5.4M-104.8%	$11.0M-91.7%	$86.2M-49.8%	$134.5M-21.7%	$112.1M-33.1%	$132.2M-32.4%	$171.7M-17.3%

CWH Cash Flow Statement

CWH quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K
Operating Cash Flow	$245.8M	-$132.0M-153.8%	$245.2M-21.1%	$310.8M+63.8%	$189.8M+23.2%	$154.0M-79.4%	$747.7M+196.8%	$251.9M+84.8%	$136.3Mn/m	-$16.3M-107.6%	$215.8M+92.4%	$112.1M+154.5%	$44.1M
Depreciation & Amortization	N/A	$95.3M+17.4%	$81.2M+18.3%	$68.6M-14.5%	$80.3M+20.9%	$66.4M+27.8%	$52.0M-13.3%	$59.9M+21.5%	$49.3M+56.4%	$31.5M+27.7%	$24.7M+2.5%	$24.1M-2.0%	$24.6M
Stock-Based Compensation	N/A	$44.3M+105.1%	$21.6M-10.4%	$24.1M-28.8%	$33.8M-29.4%	$47.9M+132.0%	$20.7M+57.2%	$13.1M-6.7%	$14.1M+175.7%	$5.1M+219.9%	$1.6M	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	$210.6M-15.0%	$247.8M+191.8%	$84.9M-3.9%	$88.4M-65.3%	$254.4M+214.9%	$80.8M+41.8%	$56.9M	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	-$20.8Mn/m	-$93.8M-114.2%	$662.7M+305.2%	$163.6Mn/m	-$118.1Mn/m	-$97.1M-161.1%	$158.8M	N/A	N/A
Investing Cash Flow	-$25.9M	-$201.2Mn/m	-$88.2Mn/m	-$369.4Mn/m	-$422.5Mn/m	-$355.8Mn/m	-$125.9Mn/m	-$104.5Mn/m	-$292.7Mn/m	-$468.5Mn/m	-$115.8Mn/m	-$176.2M	N/A
Financing Cash Flow	-$113.9M	$339.8M+2781.6%	$11.8Mn/m	-$31.9M-133.4%	$95.6M-68.5%	$303.0Mn/m	-$603.2Mn/m	-$138.4M-295.6%	$70.8M-88.1%	$594.7Mn/m	-$77.8M-271.5%	$45.4M	N/A
Dividends Paid	$15.8M	$31.4M+27.0%	$24.7M-63.0%	$66.8M-36.6%	$105.4M+56.9%	$67.2M+10.1%	$61.0M+166.7%	$22.9M+0.8%	$22.7M+2.1%	$22.2M+1368.1%	$1.5M	N/A	N/A
Share Buybacks	N/A	N/A	$0n/m	$0-100.0%	$79.8M-49.0%	$156.3M+626.0%	$21.5Mn/m	$0	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$398.8M+112.2%	-$65.6Mn/m	-$227.2Mn/m	$139.8M-56.9%	$187.9M+23.3%	-$232.5Mn/m	-$163.4Mn/m	$324.2M+2.8%
Depreciation & Amortization	$24.6M+5.2%	$22.7M+0.8%	$23.7M+11.4%	$25.7M+24.6%	$23.4M+16.9%	$22.5M+16.9%	$21.3M+11.0%	$20.6M+16.8%
Stock-Based Compensation	$4.4M-48.1%	$4.8M-34.3%	N/A	$7.8M+39.1%	$8.4M+56.5%	$7.3M+39.9%	N/A	$5.6M+2.0%
Investing Cash Flow	-$14.3Mn/m	$9.5Mn/m	$24.9Mn/m	-$46.0Mn/m	-$34.6M-858.7%	-$145.4Mn/m	-$31.1Mn/m	-$2.2Mn/m
Financing Cash Flow	-$360.2Mn/m	$40.9M-78.5%	$186.8M-50.1%	$18.6Mn/m	-$56.1Mn/m	$190.4M+62.0%	$374.5M+20.5%	-$317.4Mn/m
Dividends Paid	$0-100.0%	$0-100.0%	$7.9M+1.5%	$7.9M+38.6%	$7.8M+38.8%	$7.8M+38.8%	$7.8M+38.9%	$5.7M+1.2%

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

CWH Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CWH quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K
Gross Margin	29.5%-0.5pp	29.9%-0.2pp	30.2%-2.3pp	32.5%-3.1pp	35.5%+4.3pp	31.3%+4.9pp	26.3%-73.6pp	99.9%0.0pp	99.9%0.0pp	99.9%+72.5pp	27.4%-0.9pp	28.3%
Operating Margin	2.8%+0.4pp	2.4%-1.8pp	4.3%-3.9pp	8.2%-3.4pp	11.6%+2.8pp	8.7%+8.6pp	0.2%-4.0pp	4.2%-4.1pp	8.3%+0.5pp	7.9%+0.5pp	7.3%+0.3pp	7.0%
Net Margin	-1.4%-0.8pp	-0.6%-1.2pp	0.5%-1.2pp	1.8%-2.3pp	4.0%+1.8pp	2.3%+3.5pp	-1.2%-1.5pp	0.2%-0.5pp	0.7%-4.7pp	5.4%+0.1pp	5.3%+0.6pp	4.7%
Return on Equity	-39.3%-27.4pp	-11.8%-31.6pp	19.8%-63.9pp	83.7%-92.5pp	176.2%-280.8pp	456.9%	N/A	23.4%-35.7pp	59.1%	N/A	N/A	N/A
Return on Assets	-1.8%-1.0pp	-0.8%-1.5pp	0.7%-1.9pp	2.6%-3.8pp	6.4%+2.6pp	3.8%+5.5pp	-1.8%-2.2pp	0.4%-0.8pp	1.2%-11.8pp	13.0%-0.1pp	13.1%+2.4pp	10.7%
Current Ratio	1.20-0.2x	1.35+0.1x	1.21-0.1x	1.33-0.1x	1.430.0x	1.44+0.1x	1.30-0.1x	1.45+0.1x	1.36+0.1x	1.30+0.1x	1.21	N/A
Debt-to-Equity	6.18+1.6x	4.57-4.3x	8.90-1.1x	10.04+1.3x	8.72-33.2x	41.93	N/A	26.60+8.1x	18.55	N/A	N/A	N/A
Liabilities-to-Equity	20.44+7.0x	13.41-14.1x	27.51-3.3x	30.80+4.6x	26.19-95.8x	121.97	N/A	62.28+12.9x	49.40	N/A	N/A	N/A
Asset Turnover	1.260.0x	1.250.0x	1.27-0.2x	1.45-0.1x	1.58-0.1x	1.67+0.2x	1.45-0.3x	1.710.0x	1.67-0.7x	2.410.0x	2.46+0.2x	2.28
FCF Margin	N/A	N/A	N/A	-0.3%+1.1pp	-1.4%-13.5pp	12.2%+8.8pp	3.3%+5.8pp	-2.5%-0.2pp	-2.3%-6.8pp	4.5%	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	27.8%-2.1pp	29.8%-0.6pp	28.8%-2.5pp	28.6%-0.3pp	30.0%-0.4pp	30.4%+0.9pp	31.3%+0.3pp	28.9%-1.3pp
Operating Margin	4.8%-1.8pp	1.6%+0.2pp	-4.3%-3.0pp	4.4%+0.6pp	6.6%+1.3pp	1.5%+1.2pp	-1.3%-0.2pp	3.7%-1.3pp
Net Margin	1.4%-0.1pp	-1.2%-0.3pp	-5.7%-3.1pp	-2.2%-2.6pp	1.5%+1.0pp	-0.9%+0.8pp	-2.6%-1.3pp	0.3%-0.6pp
Return on Equity	10.9%+2.1pp	-7.6%-3.7pp	-29.4%-19.8pp	-13.7%-17.3pp	8.9%+2.3pp	-4.0%+11.7pp	-9.7%-1.1pp	3.6%-7.1pp
Return on Assets	0.5%0.0pp	-0.3%-0.1pp	-1.3%-0.7pp	-0.8%-0.9pp	0.6%+0.4pp	-0.2%+0.2pp	-0.7%-0.3pp	0.1%-0.2pp
Current Ratio	1.220.0x	1.17-0.1x	1.20-0.2x	1.260.0x	1.26+0.1x	1.26+0.1x	1.35+0.1x	1.23-0.1x
Debt-to-Equity	5.61+1.3x	6.46+1.7x	6.18+1.6x	4.93-5.0x	4.36-5.8x	4.79-6.0x	4.57-4.3x	9.94-0.3x
Liabilities-to-Equity	18.15+4.4x	22.27+7.2x	20.44+7.0x	15.25-14.3x	13.73-18.3x	15.10-19.0x	13.41-14.1x	29.51+0.1x
Asset Turnover	0.400.0x	0.260.0x	0.230.0x	0.360.0x	0.380.0x	0.270.0x	0.250.0x	0.370.0x

Not reported in any period shown, so not listed: FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Camping World Holdings, Inc. CWH	FY2025	$6.4B	-$89.8M	-1.4%	$289.1M	34/100
Uxin Limited UXIN	FY2025	$463.3M	-$39.7M	-8.6%	$190.7M	29/100
ACV Auctions Inc. ACVA	FY2025	$759.6M	-$66.1M	-8.7%	$1.8B	48/100
Sonic Automotive, Inc. SAH	FY2025	$15.2B	$118.7M	0.8%	$2.0B	40/100

Where Camping World Holdings, Inc. Ranks

Frequently Asked Questions

What is Camping World Holdings, Inc.'s annual revenue?

Camping World Holdings, Inc. (CWH) reported $6.4B in total revenue for fiscal year 2025. This represents a 4.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Camping World Holdings, Inc.'s revenue growing?

Camping World Holdings, Inc. (CWH) revenue grew by 4.4% year-over-year, from $6.1B to $6.4B in fiscal year 2025.

Is Camping World Holdings, Inc. profitable?

No, Camping World Holdings, Inc. (CWH) reported a net loss of $97.3M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net loss of $89.8M, with a net profit margin of -1.4%.

What is Camping World Holdings, Inc.'s EBITDA?

Camping World Holdings, Inc. (CWH) had EBITDA of $275.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Camping World Holdings, Inc. have?

As of fiscal year 2025, Camping World Holdings, Inc. (CWH) had $215.0M in cash and equivalents against $1.4B in long-term debt.

What is Camping World Holdings, Inc.'s gross margin?

Camping World Holdings, Inc. (CWH) had a gross margin of 29.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Camping World Holdings, Inc.'s operating margin?

Camping World Holdings, Inc. (CWH) had an operating margin of 2.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Camping World Holdings, Inc.'s net profit margin?

Camping World Holdings, Inc. (CWH) had a net profit margin of -1.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Camping World Holdings, Inc.'s return on equity (ROE)?

Camping World Holdings, Inc. (CWH) has a return on equity of -39.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Camping World Holdings, Inc.'s operating cash flow?

Camping World Holdings, Inc. (CWH) recorded an outflow of $132.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Camping World Holdings, Inc.'s total assets?

Camping World Holdings, Inc. (CWH) had $5.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What is Camping World Holdings, Inc.'s current ratio?

Camping World Holdings, Inc. (CWH) had a current ratio of 1.20 as of fiscal year 2025, which is considered adequate.

What is Camping World Holdings, Inc.'s debt-to-equity ratio?

Camping World Holdings, Inc. (CWH) had a debt-to-equity ratio of 6.18 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

What is Camping World Holdings, Inc.'s liabilities-to-equity ratio?

Camping World Holdings, Inc. (CWH) had a liabilities-to-equity ratio of 20.44 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

What is Camping World Holdings, Inc.'s return on assets (ROA)?

Camping World Holdings, Inc. (CWH) had a return on assets of -1.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Camping World Holdings, Inc.'s P/E ratio?

Camping World Holdings, Inc. (CWH) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $289.1M as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Camping World Holdings, Inc.'s price-to-sales ratio?

Camping World Holdings, Inc. (CWH) trades at 0.0x sales, its market capitalization divided by $6.3B revenue, trailing 12 months to June 30, 2026. The market capitalization is $289.1M as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Camping World Holdings, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Camping World Holdings, Inc. (CWH) held $215.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $132.0M over that year. Dividing the one by the other, the reported balance equals about 20 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Camping World Holdings, Inc.'s Altman Z-Score?

Camping World Holdings, Inc. (CWH) has an Altman Z-Score of 1.52, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Camping World Holdings, Inc.'s Piotroski F-Score?

Camping World Holdings, Inc. (CWH) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Camping World Holdings, Inc.'s earnings high quality?

Camping World Holdings, Inc. (CWH) reported a net loss of $89.8M while operations used $132.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Camping World Holdings, Inc.?

Camping World Holdings, Inc. (CWH) scores 34 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Camping World Holdings, Inc. it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.