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Camping World Holdings CWH Rv And Outdoor Retail — Goodwill Impairment

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Other financials

Income statement

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Revenue$1.4B-4.2%
Gross profit$403.3M-6.1%
Operating income$22.1M+6.0%
Net income-$16.4M-33.6%
EPS (diluted)-$0.26-23.8%

Balance sheet

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Cash & equivalents$199.8M+855%
Total debt$4.1B+7.4%
Total equity$215.0M-30.8%
Total assets$5.1B-0.2%

Cash flow

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Operating cash flow-$65.6M+71.8%

Valuation

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Market cap$635.26M-34.1%
Enterprise value$4.5B-1.3%
P/S0.1×-0.1×

Profitability

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Gross margin29.3%-0.8pp
Operating margin2.7%-1.8pp
Net margin-1.5%-2.7pp

Returns & leverage

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Return on equity-35.7%-78.7pp
Debt / equity18.9×+6.7×
Current ratio1.2×-0.1×

Where this comes from

Reported directly by Camping World Holdings in its filing.

Tagged under the XBRL concept us-gaap:GoodwillImpairmentLoss.

The source filing: Camping World Holdings’s 10-K, filed February 27, 2026.

Filed
Feb 27, 2026, 4:07 PM EST
Fiscal year
FY2025
Accession
0001104659-26-021548

In the fourth quarter of 2025 and 2024, the Company performed its annual goodwill impairment test of the RV and Outdoor Retail, the Good Sam Show, Good Sam Media, GSS Enterprises and Good Sam RA and Tire Rescue reporting units by performing a quantitative analysis. The RV and Outdoor Retail reporting unit is comprised of the entire RV and Outdoor Retail segment. The Good Sam Show, Good Sam Media, GSS Enterprise, and the Good Sam RA and Tire Rescue reporting units are comprised of a portion of the Good Sam Services and Plans segment. As of December 31, 2025 and 2024, the Good Sam RA and Tire Rescue reporting unit had allocated goodwill of $1.6 million and this reporting unit had a negative carrying value as of the date of these annual goodwill impairment tests. These annual goodwill impairment tests resulted in the determination that the estimated fair value of these reporting units exceeded their carrying value. Therefore, no impairment charge was recorded during the years ended December 31, 2025 and 2024.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Camping World Holdings's rv and outdoor retail — goodwill impairment?
Camping World Holdings (CWH) reported rv and outdoor retail — goodwill impairment of $0 in Q4 2025.
What does rv and outdoor retail — goodwill impairment mean?
This metric quantifies the reduction in the carrying value of goodwill when its fair value falls below its recorded book value. It serves as a critical indicator that the expected future economic benefits from past acquisitions have diminished. Frequent or large impairment losses suggest potential overpayment for acquisitions or deteriorating performance in the acquired business.

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