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CWH

Camping World Holdings NYSE:CWH Stock Report

Last Price

US$32.09

Market Cap

US$2.7b

7D

7.0%

1Y

-11.7%

Updated

17 Aug, 2022

Data

Company Financials +
CWH fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance1/6
Financial Health3/6
Dividends3/6

CWH Stock Overview

Camping World Holdings, Inc., through its subsidiaries, retails recreational vehicles (RVs), and related products and services.

Camping World Holdings, Inc. Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Camping World Holdings
Historical stock prices
Current Share PriceUS$32.09
52 Week HighUS$46.77
52 Week LowUS$20.85
Beta2.81
1 Month Change32.77%
3 Month Change18.81%
1 Year Change-11.70%
3 Year Change282.48%
5 Year Change-9.76%
Change since IPO42.62%

Recent News & Updates

Aug 02

Camping World Non-GAAP EPS of $2.16 beats by $0.37, revenue of $2.2B beats by $170M

Camping World press release (NYSE:CWH): Q2 Non-GAAP EPS of $2.16 beats by $0.37. Revenue of $2.2B (+6.8% Y/Y) beats by $170M. Gross profit was $716.8 million, a decrease of $43.1 million, or 5.7%, and gross margin was 33.1%, a decrease of 380 basis points driven primarily by the higher cost of new vehicles. Adjusted EBITDA was $277.7 million, a decrease of $55.6 million New and used vehicle inventories were $1.7 billion, an increase of $782.5 million from June 30, 2021. Shares +7%.

Jul 25
If EPS Growth Is Important To You, Camping World Holdings (NYSE:CWH) Presents An Opportunity

If EPS Growth Is Important To You, Camping World Holdings (NYSE:CWH) Presents An Opportunity

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...

Jul 20

Camping World: Cruise Your Way To This 10% Yield

Camping World is a market leader and continues to expand its presence through acquisitions. It benefits from a huge installed base requiring parts and services, which could buffer the effects of an RV slowdown. The material drop in the stock price presents a good long-term opportunity. Being greedy when others are fearful is an easy thing to say, but hard to do in real life. That's because investing when others are running out the door takes a great amount of fortitude and conviction. But this also leads to potential for market-beating returns over the long run. This brings me to Camping World (CWH) which is now well off its 52-week highs, and in this article, I highlight what makes the stock a potential buy, so let's get started. Why CWH? Camping World is the largest retailer of RV's, and related products and services in the US. The company has an equity market cap of $2.0 billion, which is small for a company with such a large footprint (12% of the US RV market). The company also owns and operates Good Sam, the world's largest RV club, with over 2 million members. CWH benefits from favorable demographics in the US, with the baby boomer population aging, and more people taking up camping and RV'ing as a leisure activity. The company has also been investing in its brick and mortar store base, as well as its online presence. It now has over 185 locations across 42 states, and is expanding its online offerings. Contrary to how the stock price has performed since the start of the year (a 38% decline), the business appears to be holding up well, with record $1.7 billion revenue generated during the first quarter, representing a 6.7% YoY increase. Moreover, CWH didn't have to sacrifice pricing to achieve growth , as its gross margin improved by 23 bps YoY to 33.7%. The company has also been growing its financing business, which helps customers finance their RV purchases. The financing business has grown at a compound annual rate of 20% over the last 5 years, and now comprises 20% of CWH's total revenue. Notably, adjusted EBITDA declined by $7 million YoY to $182 million. This was, however, due to inventory rebalancing at distribution centers, and increased floor plans and new store openings. Meanwhile, it appears that the company is set on returning capital to shareholders, as it repurchased 2.6 million shares on the open market, contributing to an impressive 5.4% share count reduction to 41.7 million shares on a sequential QoQ basis. Moreover, CWH recently hiked its dividend by 17% and is a high dividend stock with a 9.9% yield. Moreover, the dividend is protected by a 21% payout ratio. Looking forward, CWH is a growth play, as it seeks to continue to expand through acquisitions. This includes its recent acquisition of Anthem RV in Arizona, which is a SuperCenter that offers new and used RVs from top manufacturers, RV accessories, and the entire portfolio of Good Sam products and services. This location will also complement CWH's existing Arizona locations in Avondale, Mesa, and Tucson. Risks to CWH include its somewhat leveraged balance sheet due to acquisitions and the growing nature of the company, as it comes with a net debt to EBITDA ratio of 3.8x. In addition, there are macroeconomic pressures from inflation, as RVs are a big ticket purchase for consumers. This is reflected by the fact that RV sales slumped by 31% YoY during the month of April. However, CWH benefits from a huge installed base for parts and services, as noted by CEO Marcus Lemonis during the recent conference call: When we look at the macro factors that impact new RV sales, it's easy to recognize the pressure, consumer confidence, inflation, rising interest rates, et cetera, but for us, it's more complex than that. When you study our business, it's true that new RV sales are a big part of our company's revenue. However, it's also important to remember the other key areas that serve the installed base of RV-ers. Based on retail data over the last several years, we believe the installed base of RV-ers grew by over 1 million in the last several years. The installed base feeds our high-margin service, collision and parts business, our recurring, steady and predictable Good Sam business, which happened to grow 9% quarter-over-quarter, and our used RV business, which was up over 35% in revenue. As a management team, it's our job to anticipate changes and adjust our business for them. The common discussion we have is, what would our business look like if the new RV sales retracted at different levels. We sensitize the model. If you make the assumption that revenue is the only factor in determining the variability of our business results, then this is often the guide that I use.

Shareholder Returns

CWHUS Specialty RetailUS Market
7D7.0%6.5%1.1%
1Y-11.7%-25.5%-9.0%

Return vs Industry: CWH exceeded the US Specialty Retail industry which returned -23.4% over the past year.

Return vs Market: CWH underperformed the US Market which returned -8.9% over the past year.

Price Volatility

Is CWH's price volatile compared to industry and market?
CWH volatility
CWH Average Weekly Movement7.6%
Specialty Retail Industry Average Movement8.9%
Market Average Movement7.6%
10% most volatile stocks in US Market17.0%
10% least volatile stocks in US Market3.1%

Stable Share Price: CWH is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: CWH's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
196612,834Marcus Lemonishttps://www.campingworld.com

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.

Camping World Holdings, Inc. Fundamentals Summary

How do Camping World Holdings's earnings and revenue compare to its market cap?
CWH fundamental statistics
Market CapUS$2.75b
Earnings (TTM)US$235.99m
Revenue (TTM)US$7.13b

5.7x

P/E Ratio

0.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CWH income statement (TTM)
RevenueUS$7.13b
Cost of RevenueUS$4.66b
Gross ProfitUS$2.47b
Other ExpensesUS$2.23b
EarningsUS$235.99m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)5.64
Gross Margin34.64%
Net Profit Margin3.31%
Debt/Equity Ratio803.2%

How did CWH perform over the long term?

See historical performance and comparison

Dividends

9.8%

Current Dividend Yield

35%

Payout Ratio