Camping World Holdings, Inc. CWH
Camping World Holdings, Inc. (together with its subsidiaries) is America's largest retailer of RVs and related products and services. Through our Camping World and Good Sam brands, our vision is to make it easy for everyone to enjoy RVing and empower our customers' joy of travel. We strive to build long-term value for our customers, employees, and stockholders by combining a comprehensive offering of RV products and services with a national network of RV dealerships, service centers and customer support centers. We also believe that our Good Sam organization and family of highly specialized services and plans, including roadside assistance, protection plans and insurance, uniquely enable us to protect our customers on the road ahead. On December 31, 2025, we operated a total of 196 store locations, with all locations selling and/or servicing RVs.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.37B | $6.10B | $6.23B | $6.97B | $6.91B | $5.45B | $4.89B | $4.79B | $4.28B | $3.52B |
| Cost of revenue | $4.49B | $4.27B | $4.35B | $4.70B | $4.46B | $3.74B | $3.60B | $3.43B | $3.04B | $2.52B |
| Gross profit | $1.88B | $1.83B | $1.88B | $2.26B | $2.46B | $1.70B | $1.29B | $1.36B | $1.24B | $993.7M |
| SG&A | $1.60B | $1.57B | $1.54B | $1.61B | $1.57B | $1.16B | $1.14B | $1.07B | $853.2M | $691.9M |
| Total operating expenses | $1.70B | $1.68B | $1.61B | $1.69B | $1.66B | $1.23B | $1.28B | $1.16B | $885.0M | $717.2M |
| Operating income | $180.2M | $148.6M | $267.1M | $568.5M | $799.5M | $476.2M | $8.7M | $201.0M | $356.0M | $276.5M |
| Pre-tax income | $120.2M | -$90.3M | $49.4M | $450.1M | $734.2M | $402.0M | -$90.7M | $96.4M | $385.6M | $204.3M |
| Income tax | $225.8M | $11.4M | $3.5M | $112.3M | $92.1M | $57.7M | $29.6M | $30.8M | $154.9M | $5.8M |
| Net income | -$105.6M | -$78.9M | $52.9M | $337.8M | $645.5M | $122.3M | -$60.6M | $10.4M | $29.9M | $188.9M |
| EPS, basic | — | — | — | — | — | 3.11 | -1.62 | 0.28 | 1.12 | 0.08 |
| EPS, diluted | — | — | — | — | — | 3.09 | -1.62 | 0.28 | 1.12 | 0.07 |
| Shares, diluted (wtd. avg.) | — | — | — | — | — | 40.0M | 37.4M | 88.9M | 26.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $215.0M | $208.4M | $39.6M | $130.1M | $267.3M | $166.1M | $147.5M | $138.6M | $224.2M | $114.2M |
| Receivables | $170.5M | $120.4M | $128.1M | $112.4M | $101.6M | $83.4M | $81.8M | $85.7M | $79.9M | $58.5M |
| Inventory | $2.11B | $1.82B | $2.04B | $2.12B | $1.79B | $1.14B | $1.36B | $1.56B | $1.42B | $902.7M |
| Total current assets | $2.62B | $2.27B | $2.35B | $2.48B | $2.28B | $1.49B | $1.69B | $1.89B | $1.81B | $1.13B |
| Property, plant and equipment | — | — | — | — | — | $367.9M | $314.4M | $359.9M | $198.0M | $130.8M |
| Goodwill | $749.3M | $734.0M | $711.2M | $622.4M | $483.6M | $413.1M | $386.9M | $359.1M | $348.4M | $153.1M |
| Other intangibles | $15.8M | $19.5M | $13.7M | $20.9M | $31.0M | $30.1M | $29.7M | $35.3M | $38.7M | $3.4M |
| Total assets | $5.04B | $4.86B | $4.89B | $4.80B | $4.37B | $3.26B | $3.38B | $2.81B | $2.57B | $1.46B |
| Accounts payable | $147.7M | $145.3M | $133.5M | $127.7M | $136.8M | $148.5M | $107.0M | $144.8M | $125.6M | $68.7M |
| Short-term debt | $57.9M | $23.3M | $22.1M | $25.2M | $15.8M | $12.2M | — | — | — | — |
| Total current liabilities | $2.18B | $1.68B | $1.95B | $1.87B | $1.60B | $1.04B | $1.30B | $1.31B | $1.33B | $868.4M |
| Long-term debt | $1.41B | $1.49B | $1.50B | $1.48B | $1.38B | $1.12B | $1.18B | $1.18B | $937.1M | $645.0M |
| Total liabilities | $4.67B | $4.38B | $4.63B | $4.55B | $4.14B | $3.27B | $3.54B | $2.77B | $2.50B | $1.60B |
| Retained earnings | $11.0M | $132.2M | $195.6M | $221.0M | $189.5M | -$21.8M | -$83.1M | -$3.4M | $7.6M | $71.0K |
| Total equity | $228.6M | $326.6M | $258.0M | $296.6M | $254.6M | -$9.2M | -$159.2M | $32.9M | $71.8M | -$161.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$132.0M | $245.2M | $310.8M | $189.8M | $154.0M | $747.7M | $251.9M | $136.3M | -$16.3M | $215.8M |
| Depreciation and amortisation | — | — | — | $48.7M | $61.6M | $47.4M | $54.7M | $44.8M | $29.0M | $23.7M |
| Stock-based compensation | $44.3M | $21.6M | $24.1M | $33.8M | $47.9M | $20.7M | $13.1M | $14.1M | $5.1M | $1.6M |
| Capital expenditure | — | — | — | $210.6M | $247.8M | $84.9M | $88.4M | $254.4M | $80.8M | $56.9M |
| Investing cash flow | -$201.2M | -$88.2M | -$369.4M | -$422.5M | -$355.8M | -$125.9M | -$104.5M | -$292.7M | -$468.5M | -$115.8M |
| Financing cash flow | $339.8M | $11.8M | -$31.9M | $95.6M | $303.0M | -$603.2M | -$138.4M | $70.8M | $594.7M | -$77.8M |
| Dividends paid | $31.4M | $24.7M | $66.8M | $105.4M | $67.2M | $61.0M | $22.9M | $22.7M | $22.2M | $1.5M |
| Buybacks | — | $0 | $0 | $79.8M | $156.3M | $21.5M | $0 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-041491.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.52B | $4.28B | $4.79B | $4.89B | $5.45B | $6.91B | $6.97B | $6.23B | $6.10B | $6.37B |
| Gross profit | $993.7M | $1.24B | $1.36B | $1.29B | $1.70B | $2.46B | $2.26B | $1.88B | $1.83B | $1.88B |
| Net income | $188.9M | $29.9M | $10.4M | -$60.6M | $122.3M | $645.5M | $337.8M | $52.9M | -$78.9M | -$105.6M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Item 5.02
- Results announced Item 2.02
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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