Camping World (CWH) Financials

CWH

Trailing 12 months to June 30, 2026

Revenue $6.3B -0.8% YoY

Net Income -$113.1M -133.7% YoY

Operating Cash Flow $245.8M +111.5% YoY

Gross Profit $1.8B -5.3% YoY

Market Cap $444.2M as of Sep 5, 2026

Price / Sales 0.1x 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 1.8x 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 Sep 5, 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 (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 2026-08-29

Gross-profit compression and working-capital reversal now dominate the economics of a heavily financed retail model

Gross margin fell from 35.5% in FY2021 to 29.5% in FY2025 while SG&A remained broadly stable; that combination points to gross-profit compression rather than an overhead-driven collapse. The resulting thin operating margin leaves earnings highly exposed to modest changes in gross profit.

Cash conversion deteriorated sharply: operating cash flow swung from $245M in FY2024 to -$132M in FY2025, turning an already loss-making period into one that consumed cash. Inventory and receivables rose to $2.11B and $170M, respectively, indicating working capital absorbed liquidity.

Balance-sheet leverage increased: debt-to-equity rose from 4.6x in FY2024 to 6.2x in FY2025 as equity shrank, making earnings weakness more consequential for financing capacity. A 1.2x current ratio alongside 19.6 months of reported outflow indicates measurable near-term resources, but does not offset the FY2025 cash outflow.

Financial Health Signals

Financial Health Score 29/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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'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 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 46/100, indicating healthy but not exceptional operating efficiency. This is up from 2.4% the prior year.

Growth

Camping World'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 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 14/100, reflecting increased financial risk.

Liquidity

Camping World's current ratio of 1.20 is below the typical benchmark, resulting in a score of 28/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Not available for Camping World, and counted as zero in the overall score.

Returns

Camping World posts a -46.2% return on equity (ROE), meaning it loses $46 for every $100 of shareholders' equity. This results in a returns score of 51/100. This is down from -24.1% the prior year.

Altman Z-Score Distress

1.54

Camping World scores 1.54, 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 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 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Camping World reported a net loss of $105.6M 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 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'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%

QoQ+263.8%

5Y CAGR-24.5%

10Y CAGR-10.8%

Camping World reported $26.9M in net income in Q2 2026. This represents a decrease of 11.1% from the same quarter a year earlier. Against the prior quarter it is up 263.8%.

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 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 CAGR-9.0pp

Camping World'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 CAGR-10.0pp

10Y CAGR-5.0pp

Camping World'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 CAGR-3.9pp

10Y CAGR-6.5pp

Camping World'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 CAGR-54.5pp

Camping World's ROE was 10.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. 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	$225.8M+2084.7%	-$11.4M-222.6%	-$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	-$113.1M	-$105.6M-33.9%	-$78.9M-249.0%	$52.9M-84.3%	$337.8M-47.7%	$645.5M+427.6%	$122.3M+301.9%	-$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	$3.11+292.0%	-$1.62-678.6%	$0.28-75.0%	$1.12+1300.0%	$0.08	N/A	N/A
EPS (Diluted)	—	N/A	N/A	N/A	N/A	N/A	$3.09+290.7%	-$1.62-678.6%	$0.28-75.0%	$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-58.0%	89M+233.9%	27M	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	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%	-$50.0M-223.9%	$79.1M+22.9%	$130.3M+36.6%	$20.8M+393.7%	-$15.5M-27.4%	$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%	-$84K+97.6%	$3.5M+142.4%	$207.5M+10224.9%	$18.3M+130.9%	-$3.5M+61.6%	-$8.2M+61.0%	-$2.0M-155.7%
Net Income	$26.9M-11.1%	-$16.4M-33.6%	-$83.1M-15.7%	-$40.4M-835.1%	$30.2M+209.2%	-$12.3M+45.0%	-$71.8M-1509.8%	$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	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$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	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$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+16.5%	$1.4B
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%	$26.8M+182.1%	-$32.6M-173.2%	$44.5M-11.8%	$50.5M+269.8%	-$29.7M+90.3%	-$307.2M-22.5%	-$250.7M
Retained Earnings	$11.0M-91.7%	$132.2M-32.4%	$195.6M-11.5%	$221.0M+16.7%	$189.5M+968.6%	-$21.8M+73.8%	-$83.1M-2366.9%	-$3.4M-144.2%	$7.6M+10631.0%	$71K	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	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	$0	$0	$0	$0	$0	$0	$0	$0
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	$0	$0	$0	$0	$0	$0	$0	$0
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%	$136.3M+935.4%	-$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	-$20.8M+77.8%	-$93.8M-114.2%	$662.7M+305.2%	$163.6M+238.5%	-$118.1M-21.6%	-$97.1M-161.1%	$158.8M	N/A	N/A
Investing Cash Flow	-$25.9M	-$201.2M-128.1%	-$88.2M+76.1%	-$369.4M+12.6%	-$422.5M-18.8%	-$355.8M-182.5%	-$125.9M-20.5%	-$104.5M+64.3%	-$292.7M+37.5%	-$468.5M-304.6%	-$115.8M+34.3%	-$176.2M	N/A
Financing Cash Flow	-$113.9M	$339.8M+2781.6%	$11.8M+137.0%	-$31.9M-133.4%	$95.6M-68.5%	$303.0M+150.2%	-$603.2M-335.7%	-$138.4M-295.6%	$70.8M-88.1%	$594.7M+864.3%	-$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	$0	$0-100.0%	$79.8M-49.0%	$156.3M+626.0%	$21.5M	$0	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$398.8M+112.2%	-$65.6M+71.8%	-$227.2M-39.1%	$139.8M-56.9%	$187.9M+23.3%	-$232.5M-242.0%	-$163.4M+29.7%	$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	-$14.3M+58.7%	$9.5M+106.5%	$24.9M+180.1%	-$46.0M-2024.4%	-$34.6M-858.7%	-$145.4M-144.4%	-$31.1M+66.2%	-$2.2M+98.5%
Financing Cash Flow	-$360.2M-542.5%	$40.9M-78.5%	$186.8M-50.1%	$18.6M+105.9%	-$56.1M+65.6%	$190.4M+62.0%	$374.5M+20.5%	-$317.4M-85.8%
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	-1.7%-0.4pp	-1.3%-2.1pp	0.9%-4.0pp	4.9%-4.5pp	9.3%+7.1pp	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	-46.2%-22.1pp	-24.1%-55.6pp	31.4%-197.1pp	228.5%-179.9pp	408.4%-48.6pp	456.9%	N/A	23.4%-35.7pp	59.1%	N/A	N/A	N/A
Return on Assets	-2.1%-0.5pp	-1.6%-2.7pp	1.1%-6.0pp	7.0%-7.7pp	14.8%+11.0pp	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
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-Q	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	-7.1%-1.1pp	-2.2%-2.6pp	1.5%+1.0pp	-0.9%+0.8pp	-6.0%-6.4pp	0.3%-0.6pp
Return on Equity	10.9%+2.1pp	-7.6%-3.7pp	-36.4%-14.4pp	-13.7%-17.3pp	8.9%+2.3pp	-4.0%+11.7pp	-22.0%-25.0pp	3.6%-7.1pp
Return on Assets	0.5%0.0pp	-0.3%-0.1pp	-1.7%-0.2pp	-0.8%-0.9pp	0.6%+0.4pp	-0.2%+0.2pp	-1.5%-1.6pp	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
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 CWH	FY2025	$6.4B	-$105.6M	-1.7%	$444.2M	29/100
Uxin Ltd. UXIN	FY2025	$463.3M	-$37.5M	-8.1%	$255.2M	24/100
Acv Auctions Inc. ACVA	FY2025	$759.6M	-$66.1M	-8.7%	$1.2B	48/100
Mister Car Wash Inc MCW	FY2025	$1.1B	$103.1M	9.8%	$2.3B	38/100
Kingsway Finl KFS	FY2025	$135.0M	-$10K	0.0%	$307.2M	26/100
Sonic Automotive SAH	FY2025	$15.2B	$118.7M	0.8%	$2.6B	40/100

Where Camping World Ranks

Frequently Asked Questions

What is Camping World's annual revenue?

Camping World (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's revenue growing?

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

Is Camping World profitable?

No, Camping World (CWH) reported a net income of -$105.6M in fiscal year 2025, with a net profit margin of -1.7%.

What is Camping World's EBITDA?

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

How much debt does Camping World have?

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

What is Camping World's gross margin?

Camping World (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's operating margin?

Camping World (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's net profit margin?

Camping World (CWH) had a net profit margin of -1.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Camping World's return on equity (ROE)?

Camping World (CWH) has a return on equity of -46.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Camping World's operating cash flow?

Camping World (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's total assets?

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

What is Camping World's current ratio?

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

What is Camping World's debt-to-equity ratio?

Camping World (CWH) had a debt-to-equity ratio of 6.18 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Camping World's return on assets (ROA)?

Camping World (CWH) had a return on assets of -2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Camping World's P/E ratio?

Camping World (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 $444.2M as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Camping World's price-to-sales ratio?

Camping World (CWH) trades at 0.1x sales, its market capitalization divided by revenue of $6.3B revenue, trailing 12 months to June 30, 2026. The market capitalization is $444.2M as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Camping World's liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Camping World (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's Altman Z-Score?

Camping World (CWH) has an Altman Z-Score of 1.54, 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's Piotroski F-Score?

Camping World (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's earnings high quality?

Camping World (CWH) reported a net loss of $105.6M 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?

Camping World (CWH) scores 29 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite 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. 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.