Camping World Holdings (CWH) AI Stock Analysis

• Market Cap: $1.33B
• Dividend Yield: 4.97%
• Average Volume (3M): 2.02M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.98
• Revenue Growth: 6.58%
• EPS Growth: -72.69%
• Country: US
• Employees: 12,701
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Dealerships
• EPS (TTM): 0.43
• Shares Outstanding: 62,819,557
• 10 Day Avg. Volume: 2,567,063
• 30 Day Avg. Volume: 2,021,403
• PEG Ratio: 0.12
• Price to Book (P/B): 3.10
• Price to Sales (P/S): 0.17
• P/FCF Ratio: 6.56
• Enterprise Value/Market Cap: 3.56
• Enterprise Value/Revenue: 0.74
• Enterprise Value/Gross Profit: 2.47
• Enterprise Value/Ebitda: 8.28
• 1Y Price Target: $18.67
• Price Target Upside: 43.84% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): 0.85
• Revenue Forecast (FY): $6.62B

• Rating: 51 Neutral
• Price Target: $12.00 ▼(-7.55% Downside)

The score is held back primarily by stressed financial performance—high leverage and weak profitability with negative operating/free cash flow. Offsetting factors include improving near-term technical momentum, constructive earnings-call guidance focused on higher adjusted EBITDA and deleveraging, and a supportive dividend yield.

Positive Factors

Leading unit market share

Consistently high unit share gives durable scale advantages across purchasing, inventory access and brand visibility. Scale supports better used-unit sourcing, stabilizes sales volumes across cycles and strengthens bargaining power with OEMs and suppliers, aiding long-term margin recovery.

Diverse F&I and insurance revenue streams

Strong growth in insurance brokerage and F&I commissions means recurring, higher-margin revenue beyond one-time RV sales. These annuity-like services improve revenue visibility, raise lifetime customer value, and help offset cyclicality in new-vehicle demand over multi-quarter horizons.

Improving EBITDA and balance-sheet flexibility

A materially higher adjusted EBITDA baseline and rapid leverage reduction provide lasting financial optionality. Sustained earnings improvement plus owned used inventory, cash and unencumbered real estate increase capacity for debt paydown, acquisitions and margin-enhancing investments.

Negative Factors

High financial leverage

Substantial leverage constrains strategic flexibility and raises refinancing and interest-rate sensitivity over months. High debt amplifies downside in slower demand periods, limits ability to invest in growth or absorb working-capital swings, and increases bankruptcy risk if cash generation falters.

Negative operating and free cash flow

Persistent negative operating and free cash flow undermines self-funding capacity and forces reliance on external financing or asset sales. Over several quarters this can limit reinvestment in stores, technology and inventory, and slow deleveraging even if EBITDA improves.

Weak profitability and margin pressure

Declining EBITDA margins and negative net income indicate structural cost or mix issues. If higher ASPs compress percentage margins or F&I/Loyalty benefits lapse, sustained profitability recovery is uncertain and makes durable cash generation and debt reduction more challenging.

Camping World Holdings Business Overview & Revenue Model

Company Description

Camping World Holdings, Inc., through its subsidiaries, retails recreational vehicles (RVs), and related products and services. It operates in two segments, Good Sam Services and Plans; and RV and Outdoor Retail. The company provides a portfolio of services, protection plans, products, and resources in the RV industry. It also offers extended vehicle service contracts; roadside assistance plans; property and casualty insurance programs; travel assist travel protection plans; and RV and outdoor related consumer shows, as well as produces various monthly and annual RV focused consumer magazines; and operates the Coast to Coast Club. In addition, the company provides new and used RVs; vehicle financing; RV repair and maintenance services; various RV parts, equipment, supplies, and accessories, which include towing and hitching products, satellite and GPS systems, electrical and lighting products, appliances and furniture, and other products; and collision repair services comprising fiberglass front and rear cap replacement, windshield replacement, interior remodel solutions, and paint and body work. Further, it offers equipment, gears, and supplies for camping, hunting, fishing, skiing, snowboarding, bicycling, skateboarding, and marine and watersports equipment and supplies, as well as operates Good Sam Club, a membership organization that offers savings on a range of products and services and provides co-branded credit cards. As of December 31, 2021, the company operated through a network of approximately 187 retail locations in 40 states of the United States. It serves customers through dealerships, and online and e-commerce platforms. The company was founded in 1966 and is headquartered in Lincolnshire, Illinois.

How the Company Makes Money

Camping World generates revenue through multiple key streams. The primary source is the sale of RVs, which includes both new and used models. The company also earns significant income from the sale of parts and accessories for RVs, as well as offering repair and maintenance services. Additionally, Camping World provides financing solutions and insurance products to RV buyers, which further contributes to its revenue. The company has established partnerships with various financial institutions to facilitate these offerings. Furthermore, Camping World benefits from membership programs and affiliations that enhance customer loyalty and repeat business, driving additional income through service contracts and extended warranties.

Camping World Holdings Financial Statement Overview

Summary

Camping World Holdings is experiencing financial stress, with high leverage and negative profitability metrics. While revenue shows slight growth, the company's ability to generate profit and manage cash flows is concerning. The high debt levels and negative equity returns suggest potential financial instability, requiring strategic adjustments to improve financial health.

Income Statement

Camping World Holdings has shown a slight revenue growth in the TTM period, but profitability metrics such as net profit margin and EBIT margin are weak, with a negative net income indicating challenges in maintaining profitability. The gross profit margin remains stable, but the declining EBITDA margin suggests operational inefficiencies.

Balance Sheet

The company exhibits a high debt-to-equity ratio, indicating significant leverage, which poses a financial risk. The negative return on equity in the TTM period reflects poor returns for shareholders. The equity ratio is low, highlighting a reliance on debt financing.

Cash Flow

Camping World Holdings faces challenges in cash flow management, with negative operating and free cash flows in the TTM period. The free cash flow to net income ratio is positive, but overall cash flow metrics indicate liquidity issues and potential difficulties in sustaining operations without external financing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.40B	6.10B	6.23B	6.97B	6.91B	5.45B
Gross Profit	1.92B	1.83B	1.88B	2.26B	2.47B	1.70B
EBITDA	570.44M	255.75M	343.63M	662.33M	908.42M	563.75M
Net Income	-54.10M	-38.64M	33.37M	136.95M	278.46M	122.34M
Balance Sheet
Total Assets	5.00B	4.86B	4.85B	4.80B	4.37B	3.33B
Cash, Cash Equivalents and Short-Term Investments	230.51M	208.42M	39.65M	130.13M	267.33M	166.07M
Total Debt	3.78B	3.64B	3.86B	3.85B	3.34B	2.58B
Total Liabilities	4.52B	4.38B	4.63B	4.55B	4.14B	3.34B
Stockholders Equity	296.22M	326.56M	124.58M	147.83M	158.06M	26.77M
Cash Flow
Free Cash Flow	-233.74M	154.32M	110.31M	-21.69M	-99.50M	662.57M
Operating Cash Flow	-68.15M	245.16M	310.81M	189.78M	154.00M	747.67M
Investing Cash Flow	-257.15M	-88.17M	-369.41M	-422.54M	-355.77M	-125.94M
Financing Cash Flow	527.43M	11.79M	-31.89M	95.55M	303.03M	-603.18M

Camping World Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.98
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CWH, the sentiment is Positive. The current price of 12.98 is above the 20-day moving average (MA) of 10.80, above the 50-day MA of 10.78, and below the 200-day MA of 14.57, indicating a neutral trend. The MACD of 0.52 indicates Negative momentum. The RSI at 79.36 is Negative, neither overbought nor oversold. The STOCH value of 91.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CWH.

Camping World Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RUSHA	72 Outperform	$4.70B	18.26	12.76%	1.32%	-1.95%	-10.89%
AN	70 Neutral	$7.72B	12.64	27.16%	―	6.06%	-1.71%
RUSHB	62 Neutral	$4.70B	17.61	12.76%	1.26%	-1.95%	-10.89%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
KMX	61 Neutral	$6.88B	16.15	7.46%	―	0.12%	2.78%
CWH	51 Neutral	$1.33B	-14.70	-26.78%	4.97%	6.58%	-72.69%

Camping World Holdings Corporate Events

Camping World Highlights RV Recovery and Operational Efficiencies

On January 13, 2026, Camping World Holdings planned to meet with investors to deliver an in-depth presentation on its business, including RV industry trends, its unit market share across vehicle types and price bands, and the performance of its insurance brokerage and F&I product lines. The materials highlighted a stabilization and positive inflection in combined new and used RV industry volumes beginning in June, continued growth in protected vehicles and assets through its insurance brokerage platform, a 22% increase in F&I product commissions, and significant projected reductions in intake costs, underscoring operational efficiencies and a strengthening positioning within the broader RV and protection-services market.

The most recent analyst rating on (CWH) stock is a Buy with a $18.00 price target. To see the full list of analyst forecasts on Camping World Holdings stock, see the CWH Stock Forecast page.

Camping World CEO Marcus Lemonis Announces Retirement

On December 2, 2025, Marcus A. Lemonis announced his retirement as CEO and Chairman of Camping World Holdings, effective December 31, 2025. He will transition to a non-executive role as Co-Founder and Special Advisor. Matthew Wagner, the current President, will succeed Lemonis as CEO and join the Board as a Class I member, effective January 1, 2026. Brent Moody will become Chairman of the Board. The Board approved new employment agreements for both Wagner and Lemonis, outlining their roles and compensation. Additionally, an amendment to the 2016 Incentive Award Plan was approved, capping equity and cash awards for non-employee directors serving as chairman at $1,000,000 annually.

The most recent analyst rating on (CWH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Camping World Holdings stock, see the CWH Stock Forecast page.