Camping World: Taking The Road Less Traveled With A Contrarian Play

(9min)

Summary

  • Camping World Holdings is a provider of RVs and camping gear, facing challenges in the RV industry post-pandemic.
  • The company has over 100 dealership locations, offering a wide range of RVs and accessories, with a competitive advantage in the market.
  • Recent financial results show revenue decline, but potential for growth with increased new RV units sold and adjusted EBITDA goals.
  • The valuation isn't unreasonable at 11.1x EV/EBITDA and 10.9x FY'25 EBITDA.

Senior couple on vacation

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Introduction

Camping World Holdings (NYSE:CWH) is a provider of recreational vehicles (RVs) and camping-related gear. Over the years, the company has pursued an accretive RV dealership roll-up strategy and pushing greater reliance upon the less cyclical used RV

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