Camping World Holdings Inc logo

Camping World Holdings Inc(CWH)

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EXPLORE ADVISORIES AND THEIR HISTORY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$4.53
10/09/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Simulated performance—not actual client returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for methodology, assumptions, and limitations.

Advisory Performance History (Simulated)Advisory Performance History info

Simulated performance—not actual client returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for methodology, assumptions, and limitations.

Upturn Advisory & Investor View for CWH

10/09/2026: CWH (1-star) is currently NOT-A-BUY. Pass it for now.

Camping World Holdings Inc is a national retailer of recreational vehicles and outdoor camping products. The company benefits from an integrated ecosystem that combines vehicle sales with service and membership programs, helping it weather industry cyclicality. While it has a leading position and established national scale, its performance is highly sensitive to macroeconomic shifts and consumer discretionary spending. Key risks include significant debt from expansion and competitive pressure in the retail market. The stock may suit investors looking for exposure to the outdoor recreation sector who can tolerate the volatility associated with cyclical consumer goods and a leveraged balance sheet.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitGrowth depends heavily on cyclical RV demand and the success of continued M&A.
Momentum investorMixed fitMomentum is conditional on positive RV industry sentiment and favorable interest rate signals.
Value investorStrong fitThe stock can trade at valuation levels that reflect the cyclicality of the retail RV industry.
Dividend investorStrong fitThe company historically provides a dividend, though it is subject to the volatility of business operations.
Low-risk investorWeak fitHigh sensitivity to macroeconomic factors and debt-heavy growth make this a higher-risk equity.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighThe stock is highly sensitive to consumer discretionary spending and interest rate changes.
Valuation riskMediumCyclical earnings can lead to rapid shifts in valuation multiples.
Competition risk (RV retail)Medium / highFragmented retail landscape and online entrants create persistent margin pressure.
Business qualityMediumWhile the service and accessory business is stable, new vehicle sales are cyclical.
Dividend incomeMediumDividends are subject to the company's ability to maintain cash flow through industry downturns.
Execution riskMediumIntegrating numerous acquisitions successfully is critical to long-term profitability.

Price Behavior

Steep Decline
PRICE PATH

Steep Decline

The stock price has dropped sharply with strong downward pressure.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit -35.53%
Avg. Invested days 35
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 2.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 10/09/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
CWH receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by weak unit economics, soft quantitative characteristics, and weak price momentum.

Company Fundamentals

★★★★★
CWH has moderate overall fundamentals (3 stars), with moderate financial health, soft growth momentum, and solid ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-132.4%), weak cash generation (FCF margin -6.0%), moderate revenue growth (+4.4%).

Financial Health Rating

★★★★★
CWH's financial health is supported by moderate efficiency, including operating-expense and cost-of-revenue discipline (opex 26.7% of revenue). Profitability is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Revenue growth is CWH's strongest growth driver at +4.4% FY2025 versus FY2024 (moderate, 3 stars). By comparison, while earnings growth (-132.4%, negative) and free-cash-flow growth (-365.8%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 97.8% and approximately 84.6% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 2.72% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

Eminence Capital LLC 9.14%
BlackRock Inc 8.66%
Nantahala Capital Management, LLC 7.99%
The Goldman Sachs Group Inc 5.97%
Bank of America Corp 5.92%

Unit Economics (Per $1K Revenue)

★★★★★
CWH generates approximately $295 of gross profit, $28 of operating income, and $-60 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Negative free cash flow explains the 1-star rating, with weak cash conversion and weak capital efficiency.

Economic Dimensions

★★★★★
Effective Tax Rate: 187.92%

Quantitative Style Profile

★★★★★
CWH has a liquid profile. Weak momentum is the primary drawback, while elevated volatility.

Style Classification

Quality Focused

Value-OrientedHigh VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 285.95M USD
Price to earnings Ratio -
1Y Target Price 9.94
Price to earnings Ratio -
1Y Target Price 9.94
Volume (30-day avg) 2.2M shares
Beta 2.17
52 Weeks Range 3.96 - 16.94
Updated Date 10/08/2026
52 Weeks Range 3.96 - 16.94
Updated Date 10/08/2026
Dividends yield (FY) 5.53%
Basic EPS (TTM) -1.55

How Company Makes Money

Business areaWhat it includesRetail investor read
Vehicle SalesNew and used RV sales.The primary revenue driver, which is highly cyclical.
Service and PartsMaintenance, repairs, and accessories.Provides steadier, higher-margin income that balances vehicle sales.
Finance and InsuranceLoan and insurance product referrals.Ancillary revenue stream tied to vehicle sales volume.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

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Valuation

Trailing PE -
Forward PE 7.45
Enterprise Value 3.86B
Price to Sales(TTM) 0.05
Enterprise Value 3.86B
Price to Sales(TTM) 0.05
Enterprise Value to Revenue 0.62
Enterprise Value to EBITDA 10.13
Shares Outstanding 63.83M
Shares Floating 53.98M
Shares Outstanding 63.83M
Shares Floating 53.98M
Percent Insiders 2.72
Percent Institutions 97.8

Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

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