Camping World Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Camping World Holdings, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3,516	4,280	4,792	4,892	5,447	6,914	6,967	6,227	6,100	6,369
Cost of revenue	2,523	3,039	3,429	3,605	3,744	4,457	4,705	4,348	4,274	4,492
Gross profit	994	1,241	1,363	1,287	1,702	2,456	2,262	1,879	1,825	1,877
Selling, general and administrative	692	853	1,069	1,142	1,156	1,574	1,607	1,539	1,573	1,603
Operating expenses	717	885	1,162	1,279	1,226	1,657	1,694	1,612	1,677	1,697
Operating income	277	356	201	8.75	476	800	569	267	149	180
Other non-operating income	-72.2	29.6	-105	-99.5	-74.2	-65.3	-118	-218	-239	-60
Pre-tax income	204	386	96.4	-90.7	402	734	450	49.4	-90.3	120
Income tax	5.8	155	30.8	29.6	57.7	92.1	112	-3.53	-11.4	226
Net income to minority interests	9.59	201	55.2	-59.7	222	364	214	19.6	-40.2	-15.8
Net income	189	29.9	10.4	-60.6	122	278	124	33.4	-38.6	-89.8
EBITDA	301	388	250	68.7	528	866	649	336	230	276
EPS, basic	0.08	1.12	0.28	-1.62	3.11
EPS, diluted	0.07	1.12	0.28	-1.62	3.09
Shares, basic (weighted)		26.6	37	37.3	39.4
Shares, diluted (weighted)		26.6	88.9	37.4	40
Dividend per share	0.08	0.74

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	114	224	139	148	166	267	130	39.6	208	215
Receivables	58.5	79.9	85.7	81.8	83.4	102	112	128	120	170
Inventory	903	1,416	1,559	1,359	1,136	1,793	2,124	2,043	1,822	2,112
Other current assets	21.8	41.1	51.7	57.8	60.2	64.3	66.9	48.4	58	67.3
Total current assets	1,126	1,807	1,888	1,691	1,494	2,284	2,484	2,349	2,271	2,618
Property, plant and equipment	131	198	360	314	368	599	758	834	847	832
Lease right-of-use assets				808	769	751	742	740	739	791
Goodwill	153	348	359	387	413	484	622	711	734	749
Intangible assets	3.39	38.7	35.3	29.7	30.1	31	20.9	13.7	19.5	15.8
Other non-current assets	17.9	21.9	18.3	17.3	15.9	24.9	29.3	39.8	37.2	36.4
Total assets	1,456	2,567	2,807	3,376	3,256	4,373	4,800	4,889	4,863	5,044
Accounts payable	68.7	126	145	107	148	137	128	134	145	148
Accrued liabilities	78	102	125	130	138	190	148	149	119	128
Deferred revenue		77.7	88.1				95.7	92.4	92.1	90.5
Short-term debt				14.1	12.2	15.8	25.2	22.1	23.3	57.9
Total current liabilities	868	1,331	1,305	1,296	1,036	1,598	1,872	1,948	1,681	2,183
Long-term debt				1,154	1,123	1,378	1,484	1,499	1,493	1,414
Lease liabilities				843	805	775	765	764	764	804
Other non-current liabilities	24.2	51.6	80	35.5	54.9	52.3	85.8	85.4	94.9	89.5
Total liabilities	1,600	2,495	2,774	3,535	3,266	4,139	4,552	4,631	4,378	4,673
Total debt	645	937	1,185	1,183	1,135	1,394	1,510	1,521	1,517	1,472
Paid-in capital	-30	42.5	47.5	50.2	63.3	98.1	106	132	194	217
Retained earnings	0.07	7.62	-3.37	-83.1	-21.8	189	221	196	132	11
Treasury stock					-15.2	-130	-180	-159	0
Shareholders' equity	-29.7	50.5	44.5	-32.6	26.8	158	148	168	327	229
Minority interests	-114	21.3	-11.6	-127	-36	75.8	99.9	89.6	158	143
Total equity	-161	71.8	32.9	-159	-9.23	255	297	258	485	372
Total liabilities and equity	1,456	2,567	2,807	3,376	3,256	4,373	4,800	4,889	4,863	5,044

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	198	231	65.6	-120	344	642	338	52.9	-78.9	-106
Depreciation and amortization	24.7	31.5	49.3	59.9	52	66.4	80.3	68.6	81.2	95.3
Stock-based compensation	1.6	5.11	14.1	13.1	20.7	47.9	33.8	24.1	21.6	44.3
Deferred income tax	3.66	131	11.4	14.9	6.61	-5.89	56.5	-14.2	-12.9	214
Change in inventory	-31	-343	-99.6	216	239	-630	-254	201	228	-223
Change in payables						52.7	-42.3	0.29	-8.91	4.94
Cash from operations	216	-16.3	136	252	748	154	190	311	245	-132
Capital expenditures	-56.9	-80.8	-254	-88.4	-84.9	-248	-211
Acquisitions	-78.6	-393	-99.2	-48.4	-47.6	-100	-217	-209	-72.3	-81.2
Purchases of investments				0	-2.5	0	0
Cash from investing	-116	-468	-293	-105	-126	-356	-423	-369	-88.2	-201
Debt issued	188	299	330
Debt repaid	-289	-7.92	-82.8
Stock issued	0.01	1.73	0.15	0	4.64	4.11	0.54	0.39	0.55	0
Share buybacks				0	-21.5	-156	-79.8	0	0
Dividends paid	-1.52	-22.2	-22.7	-22.9	-61	-67.2	-105	-66.8	-24.7	-31.4
Cash from financing	-77.8	595	70.8	-138	-603	303	95.6	-31.9	11.8	340
Net change in cash	22.2	110	-85.6	8.96	18.6	101	-137	-90.5	169	6.62
Free cash flow	159	-97.1	-118	164	663	-93.8	-20.8
Interest paid	61.9	65.2	94.6	106	72.5	58.4	107	214	239	193
Income taxes paid	-1.62	-35.4	-17.7	5.9	52.9	99.6	54.6	3.35	-0.12	5.16

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $5.39 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	28.7%	Gross profit / revenue.
Operating margin	2.3%	Operating income / revenue.
EBITDA margin	3.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	1.4%	Pre-tax income / revenue.
Net margin	-1.6%	Net income / revenue.
Operating cash flow margin	3.9%	Cash from operations / revenue.
Effective tax rate	233.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	-39.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-2.0%	Net income / average total assets.
Return on invested capital (ROIC)	7.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	24.7%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	1.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	4.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-2.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	3.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	2.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-6.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	2.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	21.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-31.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-17.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	19.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-24.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-12.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-153.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-30.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	15.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	53.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	9.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.22x	Current assets / current liabilities.
Quick ratio	0.19x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.11x	(Cash + short-term investments) / current liabilities.
Debt / equity	5.72x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	28.9%	Total debt / total assets.
Liabilities / assets	91.8%	Total liabilities / total assets.
Net debt	$1.18B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.93x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$444.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	15.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$520.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.29x	Revenue / average total assets.
Fixed asset turnover	7.66x	Revenue / average property, plant and equipment.
Inventory turnover	2.40x	Cost of revenue / average inventory.
Days inventory	152 days	365 x average inventory / cost of revenue.
Receivables turnover	38.7x	Revenue / average receivables.
Days sales outstanding	9 days	365 x average receivables / revenue.
Days payables	21 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	141 days	Days inventory + days sales outstanding - days payables.

Valuation

Metric	Value	How it is calculated
Market cap	$556.8M	Share price x shares outstanding.
Enterprise value	$1.74B	Market cap + total debt - cash - short-term investments.
P/S	0.09x	Market cap / revenue.
P/B	2.27x	Market cap / shareholders' equity. Only when equity is positive.
P/OCF	2.27x	Market cap / cash from operations, when positive.
EV/Sales	0.28x	Enterprise value / revenue.
EV/EBIT	12.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	7.25x	Enterprise value / EBITDA, when both are positive.
Earnings yield	-17.5%	Net income / market cap (the inverse of P/E).
Dividend yield	2.8%	Dividends paid over the period / market cap.
Shareholder yield	2.8%	(Dividends paid + share buybacks) / market cap.

What was Camping World Holdings, Inc.'s revenue in fiscal 2025?

Camping World Holdings, Inc. reported revenue of $6.37B for fiscal 2025, 4.4% higher than the year before.

Was Camping World Holdings, Inc. profitable in fiscal 2025?

No. It reported a net loss of $89.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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