Education
About Us
Working with TipRanks
Follow Us
Camping World Holdings (CWH)
NYSE:CWH
Top Page
Camping World Holdings
(NYSE:CWH)
60Neutral
Positive Factors
Demographics
Camping World is expected to benefit from favorable demographics, as millennials represent the largest cohort of campers and are likely to increase RV usage with age.
Market Share
Camping World is significantly outperforming the industry across all segments and should continue to benefit from market share gains.
Profitability
Camping World Holdings is upgraded to Overweight due to signs of a sharp profit pivot driven by company-specific factors.
Negative Factors
Financial Leverage
High financial leverage is an offset to the company's low valuation.
Industry Challenges
Persistently soft RV industry metrics, particularly regarding new and used RV pricing, pose challenges.
Camping World Holdings (CWH) vs. S&P 500 (SPY)
Market Cap
$1.68B
Dividend Yield3.04%
Average Volume (3M)3.07M
Price to Earnings (P/E)―
Beta (1Y)1.91
Revenue Growth0.75%
EPS Growth-412.53%
CountryUS
Employees12,701
SectorConsumer Cyclical
Sector Strength60
IndustryAuto - Dealerships
Share Statistics
EPS (TTM)-0.16
Shares Outstanding62,569,450
10 Day Avg. Volume4,065,708
30 Day Avg. Volume3,074,770
Financial Highlights & Ratios
PEG Ratio-0.82
Price to Book (P/B)2.77
Price to Sales (P/S)0.00
P/FCF Ratio-53.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$21.33Price Target Upside29.51% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
Camping World Holdings Business Overview & Revenue Model
Company DescriptionCamping World Holdings, Inc. (CWH) is a leading American retailer specializing in recreational vehicles (RVs) and related products and services. The company operates under well-known brand names including Camping World, Gander RV & Outdoors, and Good Sam, catering to the needs of outdoor and camping enthusiasts. With a comprehensive network of retail locations across the United States, Camping World offers a wide array of RVs, camping gear, RV maintenance and repair services, and membership clubs for outdoor enthusiasts, making it a one-stop-shop for outdoor adventure.
How the Company Makes MoneyCamping World Holdings generates revenue through multiple streams. The primary source of income is the sale of new and used recreational vehicles (RVs) through its extensive network of retail locations. In addition to vehicle sales, the company earns money by providing RV-related products and services, including parts and accessories, maintenance and repair services, and financing and insurance products. The Good Sam Club membership program also contributes to Camping World's earnings by offering services such as roadside assistance, vehicle insurance, and extended RV warranties. Furthermore, the company's revenue is bolstered by strategic partnerships with RV manufacturers, suppliers, and service providers, which enhance product offerings and customer reach.
Camping World Holdings Financial Statement Overview
Summary
Camping World Holdings faces challenges with declining profitability and cash flow performance, signaling an urgent need for strategic adjustments. High leverage and recent losses underline potential risks, though slight improvements in equity position offer some stability. The company should focus on enhancing operational efficiency and managing debt to ensure sustainable growth.Income Statement
Camping World Holdings has experienced declining revenues and profitability over the past years. The TTM data shows a negative net income, indicating losses, and a decreasing gross profit margin. Despite a slight revenue growth from the previous period, the company's EBIT and EBITDA margins have shrunk significantly, impacting overall profitability.55
Neutral
Balance Sheet
The company has a relatively high debt-to-equity ratio, indicating significant leverage, which poses a potential risk. However, the equity ratio has improved slightly due to increased stockholders' equity. The return on equity is negative in the TTM period, reflecting recent losses and lower profitability.60
Neutral
Cash Flow
Cash flow performance has weakened, with a decline in free cash flow and a negative free cash flow growth rate in the TTM period. The operating cash flow to net income ratio is misleading due to negative net income, complicating the assessment. The company needs to focus on improving cash generation amid profitability challenges.50
Neutral
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 6.15B | 6.10B | 6.23B | 6.97B | 6.91B | 5.45B | Gross Profit |
| 1.83B | 1.83B | 1.88B | 2.18B | 2.39B | 1.65B | EBIT |
| 178.03M | 148.57M | 267.07M | 568.53M | 799.54M | 476.19M | EBITDA |
| 246.31M | 226.50M | 336.39M | 707.84M | 908.42M | 563.75M | Net Income Common Stockholders |
| -28.61M | -38.64M | 31.04M | 351.03M | 642.08M | 344.21M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 331.30M | 208.42M | 39.65M | 130.13M | 267.33M | 166.07M | Total Assets |
| 2.97B | 4.86B | 4.85B | 4.80B | 4.37B | 3.26B | Total Debt |
| 2.14B | 3.64B | 3.86B | 3.78B | 3.34B | 2.58B | Net Debt |
| 1.81B | 3.43B | 3.82B | 3.65B | 3.08B | 2.41B | Total Liabilities |
| 2.88B | 4.38B | 4.63B | 4.55B | 4.14B | 3.27B | Stockholders Equity |
| 57.51M | 326.56M | 124.58M | 147.83M | 158.06M | 26.77M |
| Cash Flow | Free Cash Flow | ||||
| -16.14M | 154.32M | 110.31M | -21.69M | -99.50M | 662.57M | Operating Cash Flow |
| 80.66M | 245.16M | 310.81M | 189.78M | 154.00M | 747.67M | Investing Cash Flow |
| -174.10M | -88.17M | -369.41M | -422.54M | -355.77M | -125.94M | Financing Cash Flow |
| 84.64M | 11.79M | -31.89M | 95.55M | 303.03M | -603.18M |
Camping World Holdings Technical Analysis
Neutral
16.47
Price Trends
14.99
Positive
18.35
Negative
20.32
Negative
Market Momentum
0.19
Negative
64.55
Neutral
92.28
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CWH, the sentiment is Neutral. The current price of 16.47 is above the 20-day moving average (MA) of 13.56, above the 50-day MA of 14.99, and below the 200-day MA of 20.32, indicating a neutral trend. The MACD of 0.19 indicates Negative momentum. The RSI at 64.55 is Neutral, neither overbought nor oversold. The STOCH value of 92.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CWH.
Camping World Holdings Risk Analysis
Camping World Holdings disclosed 52 risk factors in its most recent earnings report. Camping World Holdings reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Camping World Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $7.11B | 11.16 | 28.45% | ― | -0.24% | -19.76% | |
74 Outperform | $4.15B | 15.41 | 14.28% | 1.29% | -1.29% | -9.44% | |
70 Outperform | $4.15B | 14.18 | 14.28% | 1.47% | -1.29% | -9.44% | |
61 Neutral | $6.92B | 11.84 | 3.00% | 3.95% | 2.60% | -21.94% | |
61 Neutral | $10.52B | 21.55 | 8.13% | ― | -0.69% | 6.27% | |
60 Neutral | $1.68B | ― | -13.97% | 3.04% | 0.75% | -412.53% | |
40 Underperform | $16.08M | ― | -143.68% | ― | -18.48% | -7.78% |
* Consumer Cyclical Sector Average
Performance Comparison
CWH
Camping World Holdings
16.54
-5.08
-23.50%
AN
AutoNation
190.77
20.20
11.84%
KMX
CarMax
69.56
-6.20
-8.18%
RUSHA
Rush Enterprises A
50.74
5.93
13.23%
RUSHB
Rush Enterprises B
55.15
13.29
31.75%
GORV
Lazydays Holdings
0.15
-3.68
-96.08%
Camping World Holdings Earnings Call Summary
Earnings Call Date:Apr 29, 2025
(Q1-2025)
| % Change Since: 16.97%|
Next Earnings Date:Aug 05, 2025
Earnings Call Sentiment Positive
The earnings call reflected a strong performance with significant growth in EBITDA and used unit sales, alongside strategic cost reductions. Despite some challenges with ASPs and potential tariff concerns, the company's market share and profitability initiatives indicate a promising outlook.Q1-2025 Updates
Positive Updates
EBITDA Growth
Camping World achieved EBITDA growth of nearly 4x year-over-year in the first quarter.
Used Unit Sales Surge
Used unit sales increased by 30% in the first quarter, contributing significantly to overall revenue growth.
Market Share Expansion
Combined new and used unit market share reached over 14% through February, indicating strong competitive performance.
Cost Reduction Initiatives
The company implemented $35 million in annualized SG&A reductions, which are expected to benefit future quarters.
New Dealerships and Profitability
Opened nine dealerships, including five Lazydays locations that were profitable in March.
Negative Updates
Pressure on ASP
Experienced pressure on average selling price (ASP) during the quarter, with some softness noted.
Headcount Reductions
Difficult decisions were made to part ways with a number of team members as part of cost-cutting measures.
Industry Tariff Concerns
Potential tariff impacts are being monitored, though currently deemed immaterial.
Company Guidance
In the Camping World Holdings, Inc. first quarter 2025 earnings call, the company provided guidance that highlighted several key financial metrics and strategic goals. The company reported a revenue increase to $1.4 billion, primarily driven by a 30% rise in used unit sales. They achieved an EBITDA growth of nearly four times compared to the previous year, and reported an adjusted EBITDA of $31.1 million, up from $8.2 million last year. Camping World aims to improve SG&A as a percentage of gross profit by 600 to 700 basis points for the year. Additionally, they expect vehicle gross margins to stay within historical ranges and project growth in used units to exceed low double-digits, while new unit sales are anticipated to grow in the low single-digits. The company is also focused on reducing costs, having implemented $35 million in annualized SG&A reductions. Lastly, Camping World is strategically positioned to react to potential industry changes, including tariff impacts, with expectations of new model year 2026 pricing to rise in the mid-single digits, while maintaining a strong emphasis on market share growth and inventory management.Camping World Holdings Corporate Events
Executive/Board Changes
Camping World Holdings Amends CEO Employment Agreement
Neutral
Jan 27, 2025
On January 26, 2025, Camping World Holdings’ Board approved an amended employment agreement with CEO Marcus Lemonis, effective January 1, 2025, through January 1, 2028, with provisions for salary, bonuses, and equity awards. The agreement also defines terms for termination benefits, non-competition, and confidentiality obligations, potentially impacting leadership continuity and shareholder interests.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.