Camping World (CWH) Financials

$6.83 +0.15 (+2.25%)

Closing price 05/14/2026 03:59 PM Eastern

Extended Trading

$6.80 -0.03 (-0.42%)

As of 08:10 AM Eastern

Annual Income Statements for Camping World

This table shows Camping World's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	124	174	189	4,236	-61	122	278	124	33	-39	-90
Consolidated Net Income / (Loss)	124	174	198	4,437	-120	344	642	338	53	-79	-106
Net Income / (Loss) Continuing Operations	124	174	198	4,437	-120	344	642	338	53	-79	-106
Total Pre-Tax Income	126	176	204	386	-91	402	734	450	49	-90	120
Total Operating Income	185	240	277	356	8.75	476	800	569	267	149	180
Total Gross Profit	746	3,279	994	5,447	1,287	1,702	2,456	2,262	1,879	1,825	1,877
Total Revenue	2,635	3,279	3,516	8,560	4,892	5,447	6,914	6,967	6,227	6,100	6,369
Operating Revenue	2,635	3,279	3,516	8,560	4,892	5,447	6,914	6,967	6,227	6,100	6,369
Total Cost of Revenue	1,889	0.00	2,523	2,965	3,605	3,744	4,457	4,705	4,348	4,274	4,492
Operating Cost of Revenue	1,889	-	2,523	2,965	3,605	3,744	4,457	4,705	4,348	4,274	4,492
Total Operating Expenses	561	3,039	717	885	1,279	1,226	1,657	1,694	1,612	1,677	1,697
Selling, General & Admin Expense	536	635	692	853	1,142	1,156	1,574	1,607	1,539	1,573	1,603
Depreciation Expense	25	24	25	32	60	52	66	80	69	81	95
Other Operating Expenses / (Income)	-	2,380	1.22	0.39	-0.69	4.55	2.21	1.61	-0.10	-2.30	-2.00
Impairment Charge	-	-	-	-	66	12	3.04	4.23	9.27	15	1.24
Other Special Charges / (Income)	0.03	-0.24	-0.56	-0.13	11	1.33	-0.58	0.62	-5.22	9.86	-0.85
Total Other Income / (Expense), net	-59	-65	-72	30	-99	-74	-65	-118	-218	-239	-60
Interest Expense	13	11	24	28	109	20	15	42	83	236	199
Other Income / (Expense), net	-47	-53	-48	58	10	-55	-50	-76	-135	-3.26	139
Income Tax Expense	2.14	1.36	5.80	155	30	58	92	112	-3.53	-11	226
Net Income / (Loss) Attributable to Noncontrolling Interest	-	0.00	9.59	201	-60	222	364	214	20	-40	-16
Basic Earnings per Share	-	$0.00	$0.08	$2.24	($1.62)	$0.00	$0.00	$0.00	$0.75	($0.80)	($1.43)
Weighted Average Basic Shares Outstanding	-	0.00	18.77M	53.24M	37.31M	0.00	0.00	0.00	44.63M	48.01M	62.72M
Diluted Earnings per Share	-	$0.00	$0.07	$2.24	($1.62)	$0.00	$0.00	$0.00	$0.57	($0.80)	($1.43)
Weighted Average Diluted Shares Outstanding	-	0.00	83.60M	53.24M	37.35M	0.00	0.00	0.00	84.97M	48.01M	62.72M
Weighted Average Basic & Diluted Shares Outstanding	-	-	1.74B	87.64M	88.24M	88.43M	85.68M	83.93M	84.54M	102.01M	102.99M

This table shows Camping World's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	16	-14	-22	9.77	5.50	-32	-12	30	-40	-67	-16
Consolidated Net Income / (Loss)	31	-48	-51	23	8.06	-60	-25	58	-29	-109	-27
Net Income / (Loss) Continuing Operations	31	-48	-51	23	8.06	-60	-25	58	-29	-109	-27
Total Pre-Tax Income	35	-69	-60	31	6.01	-68	-28	76	178	-106	-27
Total Operating Income	88	-12	4.22	95	64	-15	21	130	79	-50	22
Total Gross Profit	523	343	402	548	499	377	430	592	517	338	403
Total Revenue	1,730	1,109	1,364	1,807	1,725	1,204	1,414	1,976	1,806	1,174	1,355
Operating Revenue	1,730	1,109	1,364	1,807	1,725	1,204	1,414	1,976	1,806	1,174	1,355
Total Cost of Revenue	1,207	766	962	1,259	1,226	828	984	1,384	1,289	835	951
Operating Cost of Revenue	1,207	766	962	1,259	1,226	828	984	1,384	1,289	835	951
Total Operating Expenses	435	356	398	452	434	392	409	462	438	388	381
Selling, General & Admin Expense	415	337	371	420	414	368	387	437	411	367	358
Depreciation Expense	18	19	19	20	21	21	23	23	26	24	23
Other Operating Expenses / (Income)	0.38	-	-	0.04	-2.63	-	0.00	-0.11	0.08	-	0.06
Impairment Charge	1.75	-	5.83	4.58	1.94	2.71	0.62	0.00	0.62	-	0.00
Other Special Charges / (Income)	0.13	-0.22	1.59	7.95	-0.01	0.33	-1.82	1.19	0.53	-0.75	0.17
Total Other Income / (Expense), net	-53	-57	-64	-64	-58	-52	-49	-54	99	-56	-49
Interest Expense	55	57	28	64	58	121	18	52	49	49	49
Other Income / (Expense), net	1.70	0.65	-36	-0.08	-0.16	69	-31	-2.60	148	-6.68	-0.16
Income Tax Expense	3.68	-21	-9.04	7.94	-2.05	-8.22	-3.47	18	207	3.49	-0.08
Net Income / (Loss) Attributable to Noncontrolling Interest	15	-33	-28	14	2.56	-28	-12	27	11	-42	-10
Basic Earnings per Share	$0.36	($0.33)	($0.50)	$0.22	$0.12	($0.64)	($0.20)	$0.48	($0.64)	($1.07)	($0.26)
Weighted Average Basic Shares Outstanding	44.67M	44.63M	45.05M	45.09M	45.23M	48.01M	62.53M	62.61M	62.74M	62.72M	63.48M
Diluted Earnings per Share	$0.32	($0.44)	($0.51)	$0.22	$0.09	($0.60)	($0.21)	$0.48	($0.64)	($1.06)	($0.26)
Weighted Average Diluted Shares Outstanding	85.18M	84.97M	85.09M	45.24M	85.62M	48.01M	102.43M	62.75M	62.74M	62.72M	63.48M
Weighted Average Basic & Diluted Shares Outstanding	84.25M	84.54M	84.54M	84.60M	84.96M	102.01M	102.04M	102.12M	102.29M	102.99M	102.99M

This table details how cash moves in and out of Camping World's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-19	22	110	-86	8.96	19	101	-137	-90	169	6.62
Net Cash From Operating Activities	112	216	-16	136	252	748	154	190	311	245	-132
Net Cash From Continuing Operating Activities	112	216	-16	136	252	748	154	188	311	245	-132
Net Income / (Loss) Continuing Operations	174	198	231	66	-120	344	642	338	53	-79	-106
Consolidated Net Income / (Loss)	174	198	231	66	-120	344	642	338	53	-79	-106
Depreciation Expense	24	25	32	49	60	52	66	80	69	81	95
Non-Cash Adjustments To Reconcile Net Income	6.20	6.55	-121	52	144	103	86	99	56	99	-38
Changes in Operating Assets and Liabilities, net	-92	-14	-158	-31	169	249	-640	-329	133	143	-83
Net Cash From Investing Activities	-176	-116	-468	-293	-105	-126	-356	-423	-369	-88	-201
Net Cash From Continuing Investing Activities	-176	-116	-468	-293	-105	-126	-356	-423	-369	-88	-201
Purchase of Property, Plant & Equipment	-41	-	-60	-134	-57	-32	-119	-155	-131	-91	-129
Acquisitions	-125	-79	-394	-99	-48	-48	-106	-218	-212	-72	-81
Purchase of Investments	-	-	-	0.00	0.00	-2.50	-7.98	-3.00	-3.44	0.00	-17
Sale of Property, Plant & Equipment	21	3.87	6.80	61	32	9.24	5.83	8.98	44	62	138
Divestitures	-	-	-	-	-	-	-	0.00	0.00	23	11
Sale and/or Maturity of Investments	-	-	-	-	-	-	-	-	0.00	0.00	0.44
Other Investing Activities, net	-30	-41	-21	-121	-32	-53	-129	-56	-67	-9.60	-123
Net Cash From Financing Activities	45	-78	595	71	-138	-603	303	96	-32	12	340
Net Cash From Continuing Financing Activities	45	-78	595	71	-138	-603	303	96	-32	12	340
Repayment of Debt	-41	-309	-4.60	-179	-68	-381	-200	299	19	-364	395
Repurchase of Common Equity	-	-	-	0.00	0.00	-22	-156	-80	0.00	-0.41	-0.57
Payment of Dividends	-229	-238	-172	-124	-93	-198	-261	-268	-98	-43	-39
Issuance of Debt	316	235	658	375	26	0.00	939	128	59	99	0.00
Other Financing Activities, net	-1.35	234	-7.90	-0.66	-3.15	-2.39	-19	17	-12	321	-16

This table details how cash moves in and out of Camping World's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-1.14	-14	-9.93	-5.98	4.64	180	-188	97	112	-15	-15
Net Cash From Operating Activities	315	-232	-68	152	324	-163	-232	188	140	-227	-66
Net Cash From Continuing Operating Activities	315	-232	-68	152	324	-163	-232	188	140	-227	-66
Net Income / (Loss) Continuing Operations	31	-48	-51	23	8.06	-60	-25	58	-29	-109	-27
Consolidated Net Income / (Loss)	31	-48	-51	23	8.06	-60	-25	58	-29	-109	-27
Depreciation Expense	18	19	19	20	21	21	23	23	26	24	23
Non-Cash Adjustments To Reconcile Net Income	38	58	-38	-5.86	88	56	-83	-7.19	-56	92	-75
Changes in Operating Assets and Liabilities, net	228	-263	1.73	115	208	-181	-148	114	199	-234	14
Net Cash From Investing Activities	-146	-92	-59	4.57	-2.17	-31	-145	-35	-46	25	9.49
Net Cash From Continuing Investing Activities	-146	-92	-59	4.57	-2.17	-31	-145	-35	-46	25	9.49
Purchase of Property, Plant & Equipment	-43	-35	-26	-23	-20	-23	-24	-26	-34	-45	-35
Acquisitions	-76	-59	-59	-3.55	-	-10	-81	-0.59	-0.05	-	-7.04
Sale of Property, Plant & Equipment	0.69	5.66	24	11	17	9.92	7.23	5.58	45	80	53
Other Investing Activities, net	-27	-2.89	-1.24	-	-	-8.36	-49	-24	-50	-	-1.38
Net Cash From Financing Activities	-171	311	118	-163	-317	375	190	-56	19	187	41
Net Cash From Continuing Financing Activities	-171	311	118	-163	-317	375	190	-56	19	187	41
Repayment of Debt	-146	320	-56	-146	-308	53	-6.27	-46	33	207	-56
Repurchase of Common Equity	-	-	0.00	-	-	-	-0.57	-	-	-	0.00
Payment of Dividends	-20	-5.54	-16	-14	-5.72	-7.65	-7.82	-7.90	-10	-13	0.00
Issuance of Debt	-	-	192	-	-	-	208	-	-	-	100
Other Financing Activities, net	-4.64	-4.09	-2.48	-2.00	-3.91	329	-2.72	-2.23	-3.72	-6.92	-2.36

This table presents Camping World's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,338	1,456	1,705	2,807	3,376	3,256	4,373	4,800	4,889	4,863	5,044
Total Current Assets	1,051	1,126	1,535	1,888	1,691	1,494	2,284	2,484	2,349	2,271	2,618
Cash & Equivalents	92	114	-	139	148	166	267	130	40	208	215
Accounts Receivable	56	58	78	86	82	83	102	112	128	120	170
Inventories, net	862	903	1,411	1,559	1,359	1,136	1,793	2,124	2,043	1,822	2,112
Prepaid Expenses	19	22	46	52	58	60	64	67	48	58	67
Other Current Assets	22	29	-	53	45	48	58	50	60	61	53
Other Current Nonoperating Assets	-	-	-	-	-	-	-	0.00	30	1.35	0.18
Plant, Property, & Equipment, net	150	131	0.00	360	314	0.00	599	758	834	847	832
Total Noncurrent Assets	137	199	170	559	1,371	1,762	1,490	1,558	1,706	1,745	1,594
Goodwill	113	153	-	359	387	413	484	622	711	734	749
Intangible Assets	1.65	3.39	-	35	30	30	31	21	14	19	16
Noncurrent Deferred & Refundable Income Taxes	6.23	24	152	146	130	166	199	143	201	215	1.43
Other Noncurrent Operating Assets	17	18	18	18	825	1,153	776	772	780	777	827
Total Liabilities & Shareholders' Equity	1,338	1,456	176	2,807	3,376	3,256	4,373	4,800	4,889	4,863	5,044
Total Liabilities	1,633	1,600	143	2,774	3,535	3,266	4,139	4,552	4,631	4,378	4,673
Total Current Liabilities	863	868	95	1,305	1,296	1,036	1,598	1,872	1,948	1,681	2,183
Short-Term Debt	651	633	-	899	862	535	1,027	1,345	1,393	1,185	1,662
Accounts Payable	57	69	-	145	107	148	137	128	134	145	148
Accrued Expenses	78	78	95	125	130	138	190	148	149	119	128
Current Deferred Revenue	64	71	-	88	87	88	95	96	92	92	90
Current Deferred & Payable Income Tax Liabilities	-	0.99	-	9.45	6.56	8.09	11	11	13	0.00	1.42
Other Current Liabilities	14	17	-	39	103	118	138	145	149	140	154
Total Noncurrent Liabilities	770	731	48	1,469	2,240	2,230	2,541	2,680	2,684	2,697	2,489
Long-Term Debt	673	620	-	1,192	1,154	1,144	1,399	1,505	1,520	1,493	1,414
Noncurrent Deferred Revenue	52	58	-	67	58	62	69	70	67	64	57
Other Noncurrent Operating Liabilities	44	53	48	210	1,028	887	1,073	1,105	1,097	1,140	1,019
Commitments & Contingencies	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-295	-144	33	33	-159	-9.23	234	248	258	485	372
Total Preferred & Common Equity	-295	-30	8.93	45	-33	27	158	148	168	327	229
Preferred Stock	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-295	-30	8.93	45	-33	27	158	148	168	327	229
Common Stock	-	-30	-	48	51	64	99	107	132	194	218
Retained Earnings	-	0.07	8.93	-3.37	-83	-22	189	221	196	132	11
Noncontrolling Interest	-	-114	24	-12	-127	-36	76	100	90	158	143

This table presents Camping World's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	4,511	4,631	4,803	4,657	5,067	5,006	4,689	5,147	5,192	4,999	5,136
Total Current Assets	2,300	2,339	2,444	2,203	2,437	2,409	2,108	2,503	2,554	2,586	2,716
Cash & Equivalents	148	73	54	53	30	24	28	21	118	231	200
Accounts Receivable	117	109	119	136	100	129	118	119	138	122	123
Inventories, net	1,900	1,980	2,077	1,869	2,078	2,014	1,782	2,119	2,061	2,026	2,187
Prepaid Expenses	47	59	56	39	69	68	57	74	58	58	67
Other Current Assets	87	104	132	101	154	165	112	149	164	110	135
Other Current Nonoperating Assets	0.00	14	4.64	4.64	6.28	8.42	10	21	15	38	5.43
Plant, Property, & Equipment, net	728	751	785	842	879	856	837	886	910	895	818
Total Noncurrent Assets	1,483	1,540	1,574	1,613	1,751	1,741	1,744	1,758	1,728	1,518	1,602
Goodwill	533	623	656	688	736	731	733	748	749	749	752
Intangible Assets	22	15	15	14	13	21	20	19	18	17	15
Noncurrent Deferred & Refundable Income Taxes	179	145	141	142	197	194	202	211	211	1.50	1.43
Other Noncurrent Operating Assets	749	757	762	768	805	795	790	781	750	751	834
Total Liabilities & Shareholders' Equity	4,511	4,631	4,803	4,657	5,067	5,006	4,689	5,147	5,192	4,999	5,136
Total Liabilities	4,174	4,405	4,545	4,386	4,871	4,795	4,473	4,688	4,675	4,516	4,787
Total Current Liabilities	1,625	1,685	1,842	1,679	2,055	2,030	1,711	1,994	2,029	2,045	2,326
Short-Term Debt	915	1,069	1,182	1,041	1,440	1,320	1,054	1,344	1,303	1,384	1,699
Accounts Payable	188	186	201	200	205	260	221	251	283	225	228
Accrued Expenses	253	172	193	172	149	187	183	161	183	178	158
Current Deferred Revenue	102	94	97	100	96	99	101	89	94	98	88
Current Deferred & Payable Income Tax Liabilities	12	11	14	14	13	12	0.00	1.70	1.70	1.20	0.00
Other Current Liabilities	155	145	152	148	152	150	151	147	164	159	153
Total Noncurrent Liabilities	2,549	2,720	2,703	2,707	2,815	2,766	2,762	2,695	2,646	2,471	2,461
Long-Term Debt	1,389	1,546	1,543	1,543	1,577	1,546	1,538	1,488	1,483	1,459	1,389
Capital Lease Obligations	-	101	-	-	136	-	-	131	-	-	115
Noncurrent Deferred Revenue	73	69	70	70	66	67	68	63	63	62	56
Noncurrent Deferred & Payable Income Tax Liabilities	-	165	-	-	150	-	-	149	-	-	0.00
Other Noncurrent Operating Liabilities	1,087	839	1,091	1,094	886	1,153	1,156	864	1,099	950	902
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	337	226	258	271	196	210	216	459	517	483	349
Total Preferred & Common Equity	208	132	137	149	143	150	152	311	341	296	215
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	208	132	137	149	143	150	152	311	341	296	215
Common Stock	118	115	116	109	133	134	128	198	206	210	220
Retained Earnings	281	196	197	208	168	172	172	112	135	86	-5.39
Noncontrolling Interest	130	94	121	122	53	61	65	148	176	187	135

This table displays calculated financial ratios and metrics derived from Camping World's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	102,286,521.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	102,286,521.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.88
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	238	269	213	137	6.12	408	699	427	286	104	-158
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	13.77%	9.02%	3.29%	-4.60%
Earnings before Interest and Taxes (EBIT)	187	228	414	136	19	422	750	492	268	145	319
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	211	253	445	186	79	474	816	572	336	226	414
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	47	211	-354	-90	282	614	-190	-149	135	269	-437
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	938	996	1,562	1,985	1,709	1,503	2,392	2,968	3,119	2,953	3,232
Increase / (Decrease) in Invested Capital	191	57	567	226	-276	-206	889	576	151	-165	278
Book Value per Share	$0.00	($0.37)	$0.10	$0.25	($0.37)	$0.30	$1.82	$1.77	$2.00	$3.84	$2.23
Tangible Book Value per Share	$0.00	($2.30)	$0.10	($1.97)	($5.10)	($4.69)	($4.10)	($5.93)	($6.61)	($5.03)	($5.25)
Total Capital	1,030	1,110	33	2,124	1,856	1,669	2,660	3,098	3,171	3,163	3,447
Total Debt	1,325	1,254	0.00	2,091	2,016	1,678	2,426	2,850	2,913	2,678	3,075
Total Long-Term Debt	674	621	0.00	1,192	1,154	1,144	1,399	1,505	1,520	1,493	1,414
Net Debt	1,233	1,140	0.00	1,952	1,868	1,512	2,158	2,720	2,873	2,470	2,860
Capital Expenditures (CapEx)	21	-3.87	53	73	25	23	113	146	87	29	-8.33
Debt-free, Cash-free Net Working Capital (DFCFNWC)	747	776	1,439	1,343	1,109	827	1,445	1,826	1,755	1,567	1,882
Debt-free Net Working Capital (DFNWC)	839	891	1,439	1,482	1,257	993	1,713	1,957	1,795	1,775	2,097
Net Working Capital (NWC)	188	258	1,439	583	395	459	686	611	401	590	435
Net Nonoperating Expense (NNE)	64	70	-4,224	137	126	64	57	89	233	183	-53
Net Nonoperating Obligations (NNO)	1,233	1,140	1,530	1,952	1,868	1,512	2,158	2,720	2,861	2,469	2,860
Total Depreciation and Amortization (D&A)	24	25	32	49	60	52	66	80	69	81	95
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.11	$1.07	$0.56	($1.62)	$3.11	$6.19	$0.00	$0.00	($0.80)	($1.43)
Adjusted Weighted Average Basic Shares Outstanding	0.00	18.77M	26.62M	73.97M	37.31M	39.38M	45.01M	0.00	0.00	48.01M	62.72M
Adjusted Diluted Earnings per Share	$0.00	$0.09	$1.07	$0.56	($1.62)	$3.09	$6.07	$0.00	$0.00	($0.80)	($1.43)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	83.60M	26.62M	177.76M	37.35M	40.01M	89.76M	0.00	0.00	48.01M	62.72M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	80.95M	87.64M	0.00	88.24M	88.43M	85.68M	83.93M	84.54M	102.01M	102.99M
Normalized Net Operating Profit after Tax (NOPAT)	238	268	213	166	61	420	712	430	190	121	126
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Camping World's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	102,286,521.00	102,986,749.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	102,286,521.00	102,986,749.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-0.66	-0.16
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.79%	-13.35%	-8.26%	-4.96%	-0.27%	8.58%	3.63%	9.38%	4.70%	-	-4.17%
EBITDA Growth	-38.21%	142.88%	-117.67%	-22.96%	-54.35%	871.82%	441.02%	31.00%	197.98%	-	251.59%
EBIT Growth	-42.31%	68.90%	-155.98%	-28.07%	-68.34%	567.01%	164.71%	33.96%	253.51%	-	322.64%
NOPAT Growth	-38.49%	-224.11%	-94.68%	-35.04%	9.96%	-27.41%	393.65%	38.69%	-115.10%	-	5.96%
Net Income Growth	-69.99%	32.40%	-1,136.22%	-63.82%	-73.92%	-25.12%	51.42%	145.68%	-464.34%	-	-8.02%
EPS Growth	-67.01%	77.89%	-1,120.00%	-65.63%	-71.88%	-36.36%	58.82%	118.18%	-811.11%	-	-23.81%
Operating Cash Flow Growth	-7.24%	30.43%	-134.12%	429.87%	2.82%	29.72%	-241.97%	23.35%	-56.87%	-	71.79%
Free Cash Flow Firm Growth	60.85%	71.99%	-2,483.24%	99.33%	170.71%	197.01%	88.46%	41.54%	-354.96%	-	194.46%
Invested Capital Growth	12.32%	5.08%	14.24%	2.49%	-2.69%	-5.30%	2.00%	4.12%	10.38%	-	-0.99%
Revenue Q/Q Growth	-9.00%	-35.86%	22.96%	32.44%	-4.51%	-30.18%	17.36%	39.79%	-8.59%	-	15.43%
EBITDA Q/Q Growth	-28.36%	-92.82%	86.86%	1,009.85%	-57.55%	52.93%	-42.27%	249.51%	67.32%	-	235.26%
EBIT Q/Q Growth	-32.35%	-112.80%	72.36%	398.13%	-70.22%	88.85%	-61.41%	517.24%	77.92%	-	138.65%
NOPAT Q/Q Growth	-28.36%	-110.81%	134.81%	2,310.47%	21.27%	-112.52%	234.88%	577.21%	-113.20%	-	144.13%
Net Income Q/Q Growth	-52.27%	-254.05%	-1.78%	146.09%	-65.59%	-839.13%	58.55%	333.06%	-151.02%	-	75.57%
EPS Q/Q Growth	-50.00%	-237.50%	49.51%	143.14%	-59.09%	-766.67%	65.00%	328.57%	-233.33%	-	75.47%
Operating Cash Flow Q/Q Growth	996.84%	-173.73%	70.76%	324.06%	112.84%	-150.40%	-42.29%	180.82%	-25.58%	-	71.14%
Free Cash Flow Firm Q/Q Growth	6.04%	30.31%	-250.11%	99.60%	10,011.02%	-4.38%	-133.46%	48.69%	-1,032.43%	-	115.59%
Invested Capital Q/Q Growth	-4.33%	11.34%	6.34%	-8.24%	-9.16%	8.35%	14.45%	-6.22%	-3.56%	-	3.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	30.24%	30.96%	29.50%	30.32%	28.90%	31.29%	30.39%	29.97%	28.63%	-	29.78%
EBITDA Margin	6.20%	0.69%	-0.93%	6.38%	2.84%	6.22%	3.06%	7.65%	14.00%	-	3.30%
Operating Margin	5.08%	-1.09%	0.31%	5.28%	3.73%	-1.28%	1.47%	6.59%	4.38%	-	1.63%
EBIT Margin	5.18%	-1.03%	-2.34%	5.28%	1.65%	4.45%	1.46%	6.46%	12.58%	-	1.62%
Profit (Net Income) Margin	1.79%	-4.29%	-3.72%	1.30%	0.47%	-4.94%	-1.75%	2.91%	-1.63%	-	-1.97%
Tax Burden Percent	89.36%	69.32%	84.89%	74.69%	134.11%	87.87%	87.67%	75.84%	-16.48%	-	99.69%
Interest Burden Percent	38.57%	598.20%	187.22%	32.89%	21.17%	-126.44%	-136.11%	59.41%	78.41%	-	-122.00%
Effective Tax Rate	10.64%	0.00%	0.00%	25.31%	-34.11%	0.00%	0.00%	24.16%	116.48%	-	0.00%
Return on Invested Capital (ROIC)	10.98%	-1.57%	0.43%	7.99%	10.88%	-1.80%	1.90%	10.17%	-1.59%	-	2.14%
ROIC Less NNEP Spread (ROIC-NNEP)	8.94%	-2.97%	-1.44%	6.26%	7.80%	-3.63%	0.60%	8.66%	-2.22%	-	0.72%
Return on Net Nonoperating Assets (RNNOA)	68.89%	-32.75%	-21.87%	81.05%	89.40%	-26.06%	5.49%	65.40%	-16.29%	-	5.26%
Return on Equity (ROE)	79.87%	-34.31%	-21.44%	89.04%	100.28%	-27.86%	7.39%	75.57%	-17.88%	-	7.40%
Cash Return on Invested Capital (CROIC)	-5.98%	4.45%	-8.44%	1.68%	6.57%	8.87%	1.47%	0.47%	-12.48%	-	-3.78%
Operating Return on Assets (OROA)	7.23%	-1.33%	-2.96%	6.49%	2.12%	5.57%	1.76%	8.01%	16.62%	-	1.99%
Return on Assets (ROA)	2.49%	-5.51%	-4.71%	1.60%	0.60%	-6.18%	-2.10%	3.61%	-2.15%	-	-2.42%
Return on Common Equity (ROCE)	46.87%	-21.45%	-13.10%	50.87%	58.12%	-18.56%	5.11%	50.95%	-11.45%	-	4.81%
Return on Equity Simple (ROE_SIMPLE)	29.02%	0.00%	-5.16%	-43.83%	-64.23%	0.00%	-16.99%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	79	-8.49	2.96	71	86	-11	15	99	-13	-35	15
NOPAT Margin	4.54%	-0.77%	0.22%	3.94%	5.01%	-0.90%	1.03%	5.00%	-0.72%	-	1.14%
Net Nonoperating Expense Percent (NNEP)	2.03%	1.40%	1.87%	1.74%	3.08%	1.83%	1.30%	1.50%	0.64%	-	1.42%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.27%	-	-	-	-0.34%	0.43%	2.99%	-0.39%	-1.02%	0.44%
Cost of Revenue to Revenue	69.76%	69.04%	70.50%	69.68%	71.10%	68.71%	69.61%	70.03%	71.37%	-	70.22%
SG&A Expenses to Revenue	24.01%	30.39%	27.23%	23.23%	24.01%	30.53%	27.41%	22.14%	22.76%	-	26.45%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	25.16%	32.05%	29.19%	25.04%	25.17%	32.58%	28.92%	23.38%	24.24%	-	28.15%
Earnings before Interest and Taxes (EBIT)	90	-11	-32	95	28	54	21	128	227	-57	22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	107	7.71	-13	115	49	75	43	151	253	-33	45
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.24	12.85	23.70	14.26	19.00	5.48	5.31	5.15	5.44	-	3.27
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Price to Revenue (P/Rev)	0.26	0.35	0.38	0.25	0.34	0.29	0.27	0.28	0.25	-	0.11
Price to Earnings (P/E)	114.80	64.84	421.39	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Dividend Yield	10.02%	5.84%	3.59%	2.80%	2.06%	2.37%	3.09%	2.91%	3.17%	-	7.32%
Earnings Yield	0.87%	1.54%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.55	1.64	1.69	1.47	1.72	1.50	1.40	1.45	1.44	-	1.15
Enterprise Value to Revenue (EV/Rev)	0.68	0.82	0.91	0.73	0.78	0.72	0.77	0.73	0.69	-	0.61
Enterprise Value to EBITDA (EV/EBITDA)	13.94	15.24	47.33	53.60	194.45	19.51	16.78	14.45	9.08	-	8.61
Enterprise Value to EBIT (EV/EBIT)	17.87	19.15	127.24	709.63	0.00	30.41	23.94	19.97	11.22	-	10.96
Enterprise Value to NOPAT (EV/NOPAT)	29.10	17.92	37.10	35.94	43.99	42.49	40.98	32.83	0.00	-	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	20.70	16.50	126.67	26.40	26.56	18.03	58.75	39.57	0.00	-	110.01
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	37.89	0.00	88.42	25.76	16.41	96.08	312.51	0.00	-	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	9.54	11.29	20.69	17.20	15.01	5.52	6.46	5.39	5.89	-	9.16
Long-Term Debt to Equity	5.70	5.89	11.24	9.28	8.91	3.08	3.53	2.87	3.02	-	4.30
Financial Leverage	7.70	11.04	15.22	12.95	11.46	7.17	9.22	7.55	7.33	-	7.32
Leverage Ratio	15.07	19.16	25.53	22.98	20.97	13.13	15.59	14.03	13.85	-	12.72
Compound Leverage Factor	5.81	114.63	47.79	7.56	4.44	-16.60	-21.23	8.33	10.86	-	-15.52
Debt to Total Capital	90.51%	91.86%	95.39%	94.51%	93.75%	84.67%	86.59%	84.36%	85.48%	-	90.16%
Short-Term Debt to Total Capital	36.45%	43.94%	43.57%	43.54%	38.12%	37.46%	39.27%	39.45%	41.60%	-	47.84%
Long-Term Debt to Total Capital	54.06%	47.93%	51.82%	50.97%	55.63%	47.21%	47.32%	44.91%	43.88%	-	42.32%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Noncontrolling Interests to Total Capital	4.26%	2.83%	1.62%	2.00%	2.35%	5.01%	4.33%	5.33%	5.62%	-	3.79%
Common Equity to Total Capital	5.23%	5.31%	2.99%	3.49%	3.90%	10.32%	9.07%	10.31%	8.91%	-	6.05%
Debt to EBITDA	8.32	8.66	27.02	34.81	107.75	11.82	10.49	8.76	5.85	-	7.18
Net Debt to EBITDA	8.15	8.54	26.77	34.52	106.57	10.90	10.42	8.39	5.37	-	6.73
Long-Term Debt to EBITDA	4.97	4.52	14.68	18.77	63.94	6.59	5.73	4.66	3.00	-	3.37
Debt to NOPAT	17.37	10.18	21.18	23.34	24.38	25.75	25.62	19.90	-37.32	-	-19.94
Net Debt to NOPAT	17.01	10.04	20.98	23.15	24.11	23.75	25.44	19.05	-34.29	-	-18.69
Long-Term Debt to NOPAT	10.37	5.31	11.51	12.59	14.46	14.36	14.00	10.59	-19.15	-	-9.36
Altman Z-Score	1.86	1.70	1.62	1.60	1.74	1.72	1.57	1.68	1.80	-	1.42
Noncontrolling Interest Sharing Ratio	41.32%	37.47%	38.89%	42.87%	42.04%	33.38%	30.80%	32.57%	35.98%	-	34.99%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.31	1.21	1.19	1.19	1.23	1.35	1.26	1.26	1.26	-	1.17
Quick Ratio	0.11	0.09	0.06	0.08	0.09	0.20	0.07	0.13	0.17	-	0.14
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-229	-159	-405	-1.63	162	155	-52	-27	-301	-313	49
Operating Cash Flow to CapEx	752.55%	-780.72%	-3,520.56%	1,286.08%	14,974.60%	-1,284.55%	-1,428.00%	911.75%	0.00%	-	0.00%
Free Cash Flow to Firm to Interest Expense	-4.15	-2.79	-14.51	-0.03	7.23	1.27	-1.06	-0.51	-6.13	-	1.00
Operating Cash Flow to Interest Expense	5.73	-4.07	-2.44	2.38	14.49	-1.35	-4.76	3.63	2.85	-	-1.35
Operating Cash Flow Less CapEx to Interest Expense	4.97	-4.59	-2.51	2.20	14.39	-1.45	-5.09	3.23	3.06	-	-0.98
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.40	1.29	1.26	1.23	1.29	1.25	1.20	1.24	1.32	-	1.23
Accounts Receivable Turnover	50.52	51.78	58.31	48.43	47.26	49.10	56.15	47.38	53.19	-	52.16
Inventory Turnover	2.37	2.09	2.10	2.05	2.31	2.21	2.05	2.17	2.36	-	2.07
Fixed Asset Turnover	8.15	7.82	7.49	7.32	7.16	7.26	6.97	7.15	7.39	-	7.40
Accounts Payable Turnover	23.04	33.29	21.83	18.19	19.98	30.66	18.85	16.26	20.11	-	18.64
Days Sales Outstanding (DSO)	7.22	7.05	6.26	7.54	7.72	7.43	6.50	7.70	6.86	-	7.00
Days Inventory Outstanding (DIO)	153.86	174.90	173.68	178.09	158.15	165.01	178.25	168.22	154.98	-	176.21
Days Payable Outstanding (DPO)	15.84	10.96	16.72	20.06	18.27	11.91	19.36	22.45	18.15	-	19.59
Cash Conversion Cycle (CCC)	145.25	170.98	163.22	165.56	147.60	160.54	165.39	153.48	143.70	-	163.63
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,801	3,119	3,270	3,001	2,726	2,953	3,380	3,170	3,057	3,232	3,347
Invested Capital Turnover	2.42	2.05	1.99	2.03	2.17	2.01	1.84	2.03	2.20	-	1.88
Increase / (Decrease) in Invested Capital	307	151	408	73	-75	-165	66	125	287	278	-33
Enterprise Value (EV)	4,330	5,127	5,524	4,413	4,677	4,419	4,739	4,599	4,412	-	3,841
Market Capitalization	1,678	2,164	2,346	1,510	2,049	1,791	1,648	1,754	1,612	-	703
Book Value per Share	$1.78	$2.00	$2.20	$1.25	$1.27	$3.84	$3.04	$3.34	$2.90	$2.23	$2.09
Tangible Book Value per Share	($6.59)	($6.61)	($14.42)	($7.65)	($7.63)	($5.03)	($4.47)	($4.17)	($4.60)	($5.25)	($5.36)
Total Capital	2,855	3,171	3,306	3,033	2,765	3,163	3,422	3,303	3,326	3,447	3,552
Total Debt	2,584	2,913	3,154	2,866	2,592	2,678	2,963	2,787	2,843	3,075	3,203
Total Long-Term Debt	1,543	1,520	1,713	1,546	1,538	1,493	1,619	1,483	1,459	1,414	1,503
Net Debt	2,531	2,873	3,124	2,843	2,564	2,470	2,942	2,669	2,613	2,860	3,003
Capital Expenditures (CapEx)	42	30	1.93	12	2.17	13	16	21	-10	-35	-18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,511	1,755	1,792	1,676	1,423	1,567	1,832	1,710	1,694	1,882	1,890
Debt-free Net Working Capital (DFNWC)	1,564	1,795	1,822	1,699	1,451	1,775	1,853	1,828	1,925	2,097	2,090
Net Working Capital (NWC)	524	401	382	379	397	590	509	525	541	435	390
Net Nonoperating Expense (NNE)	48	39	54	48	78	49	39	41	16	74	42
Net Nonoperating Obligations (NNO)	2,530	2,861	3,118	2,834	2,553	2,469	2,921	2,653	2,574	2,860	2,997
Total Depreciation and Amortization (D&A)	18	19	19	20	21	21	23	23	26	24	23
Debt-free, Cash-free Net Working Capital to Revenue	23.62%	28.18%	29.36%	27.89%	23.69%	25.69%	29.79%	27.06%	26.47%	-	29.95%
Debt-free Net Working Capital to Revenue	24.45%	28.82%	29.85%	28.28%	24.17%	29.10%	30.14%	28.93%	30.07%	-	33.12%
Net Working Capital to Revenue	8.19%	6.44%	6.25%	6.31%	6.61%	9.68%	8.28%	8.31%	8.45%	-	6.19%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.36	($0.33)	($0.50)	$0.22	$0.12	($0.64)	($0.20)	$0.48	($0.64)	($1.07)	($0.26)
Adjusted Weighted Average Basic Shares Outstanding	44.67M	44.63M	45.05M	45.09M	45.23M	48.01M	62.53M	62.61M	62.74M	62.72M	63.48M
Adjusted Diluted Earnings per Share	$0.32	($0.44)	($0.51)	$0.22	$0.09	($0.60)	($0.21)	$0.48	($0.64)	($1.06)	($0.26)
Adjusted Weighted Average Diluted Shares Outstanding	85.18M	84.97M	85.09M	45.24M	85.62M	48.01M	102.43M	62.75M	62.74M	62.72M	63.48M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	84.25M	84.54M	84.54M	84.60M	84.96M	102.01M	102.04M	102.12M	102.29M	102.99M	102.99M
Normalized Net Operating Profit after Tax (NOPAT)	80	-8.64	8.14	81	46	-8.69	14	100	56	-36	16
Normalized NOPAT Margin	4.64%	-0.78%	0.60%	4.46%	2.69%	-0.72%	0.97%	5.05%	3.11%	-	1.15%
Pre Tax Income Margin	2.00%	-6.19%	-4.39%	1.74%	0.35%	-5.63%	-1.99%	3.84%	9.86%	-	-1.97%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.63	-0.20	-1.15	1.49	1.27	0.44	0.42	2.46	4.63	-	0.45
NOPAT to Interest Expense	1.43	-0.15	0.11	1.11	3.86	-0.09	0.30	1.91	-0.27	-	0.32
EBIT Less CapEx to Interest Expense	0.87	-0.72	-1.22	1.31	1.17	0.34	0.09	2.07	4.84	-	0.82
NOPAT Less CapEx to Interest Expense	0.67	-0.67	0.04	0.93	3.76	-0.19	-0.03	1.51	-0.06	-	0.69
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	290.12%	185.80%	-1,567.83%	-120.58%	-59.67%	-55.06%	-67.68%	-156.12%	-60.00%	-	-28.88%
Augmented Payout Ratio	290.12%	185.80%	-1,567.83%	-120.58%	-59.67%	-55.58%	-69.54%	-161.38%	-61.75%	-	-28.88%

Financials Breakdown Chart

Key Financial Trends

Camping World Holdings, Inc. (CWH) has shown a mix of profitability and liquidity signals over the last four years. While revenue and gross margins have generally remained in the mid- to high-20s to low-30s percent range, quarterly earnings and cash flow have been volatile, driven by working capital swings, heavier leverage, and periodic restatements. The following bullets highlight the most notable trends for retail investors to watch.

Stable gross margins around 28–31%. Across 2023–2025, total gross profit as a % of revenue has hovered in the high 20s to low 30s, indicating persistent profitability on product mix despite quarterly fluctuations.
Positive near-term operating cash flow in select quarters. Net cash from continuing operating activities turned positive in several 2025 quarters (e.g., Q2 2025: +$187.9M; Q3 2025: +$139.8M), suggesting improving cash generation from core operations during parts of 2025.
Liquidity improved through 2025. Cash and cash equivalents rose to about $230.5M by Q3 2025, up from roughly $118.1M in Q2 2025, signaling better near-term liquidity relative to early 2025.
Occasional financing-driven liquidity support. In some quarters (notably Q4 2025), net cash from financing activities generated sizable inflows, helping offset operating and investing cash needs.
High leverage and sizable liabilities persist. Total liabilities run around $4.1–$4.7B with relatively modest equity (often under $0.4B in mid-2025), indicating a high debt load and elevated leverage compared with equity.
Significant quarterly working capital volatility. Large swings in Changes in Operating Assets and Liabilities drive substantial one-time cash flow movement, contributing to quarterly cash flow variability even when revenue trends are steady.
Frequent restatements and adjustments noted in the data. Several quarters show restated or calculated figures, underscoring accounting adjustments that raise the bar for long-run consistency in reported results.
Net income attributable to common shareholders remained negative in most 2025 quarters. The company posted losses in multiple 2025 periods (e.g., Q4 2025: -$67.3M; Q3 2025: -$40.4M), highlighting ongoing profitability pressures at the bottom line.
Operating cash flow has been negative in several quarters. Notable negatives include Q4 2025 (-$227.2M) and Q1 2025 (-$232.5M), reflecting cash outflows from operations despite some positive quarters elsewhere.
Capital spending remains material and cash-intensive. Purchases of property, plant & equipment consistently run in the tens of millions per quarter (e.g., Q4 2025: -$45.3M; Q3 2025: -$34.4M; Q2 2025: -$26.2M), limiting free cash flow and pressuring liquidity when operating cash is weak.

05/15/26 08:14 AM ETAI Generated. May Contain Errors.

Camping World Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Camping World's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Camping World's net income appears to be on a downward trend, with a most recent value of -$105.64 million in 2025, falling from $123.63 million in 2014. The previous period was -$78.88 million in 2024. See where experts think Camping World is headed by visiting Camping World's forecast page.

Camping World's total operating income in 2025 was $180.20 million, based on the following breakdown:

Total Gross Profit: $1.88 billion
Total Operating Expenses: $1.70 billion

Over the last 10 years, Camping World's total revenue changed from $2.63 billion in 2014 to $6.37 billion in 2025, a change of 141.7%.

Camping World's total liabilities were at $4.67 billion at the end of 2025, a 6.7% increase from 2024, and a 186.1% increase since 2015.

In the past 10 years, Camping World's cash and equivalents has ranged from $0.00 in 2017 to $267.33 million in 2021, and is currently $215.04 million as of their latest financial filing in 2025.

Over the last 10 years, Camping World's book value per share changed from 0.00 in 2015 to 2.23 in 2025, a change of 223.5%.

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Financial statements for NYSE:CWH last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Camping World (CWH) Financials

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Camping World (CWH) Financials

Annual Income Statements for Camping World

Quarterly Income Statements for Camping World

Annual Cash Flow Statements for Camping World

Quarterly Cash Flow Statements for Camping World

Annual Balance Sheets for Camping World

Quarterly Balance Sheets for Camping World

Annual Metrics And Ratios for Camping World

Quarterly Metrics And Ratios for Camping World

Financials Breakdown Chart

Key Financial Trends

Camping World Financials - Frequently Asked Questions

When does Camping World's financial year end?

How has Camping World's net income changed over the last 10 years?

What is Camping World's operating income?

How has Camping World's revenue changed over the last 10 years?

How much debt does Camping World have?

How much cash does Camping World have?

How has Camping World's book value per share changed over the last 10 years?

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