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Camping World Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$155M in Q3 2026 · $261M over twelve months

Operating cash flow$155M
Free cash flow+$155M
Cash conversion cycle137 days

Analysis

In Q3 2026, Camping World Holdings generated $155M of operating cash flow. That is $15.0M more than in Q3 2025 ($140M).

Over the twelve months to Sep 30, 2026, operating cash flow was $261M; the largest uses were other financing ($136M), net borrowing (+) / repaid (−) ($71.3M), dividends ($7.9M); the cash balance rose by $33.2M.

Operating cash flow was $155M against net income of −$320M. The largest differences: impairments +$287M, inventory +$91.3M, payables −$31.9M.

Its cash conversion cycle was 137 days (receivables 9 + inventory 145 − payables 18).

Free cash flow

Camping World Holdings: free cash flow by quarterCamping World Holdings: free cash flow by quarter−$163MQ4 2024−$232MQ1 2025$188MQ2 2025$140MQ3 2025−$227MQ4 2025−$65.6MQ1 2026$399MQ2 2026$155MQ3 2026
Operating cash flow less capital spending.
Camping World Holdings: operating cash flow against capital spendingCamping World Holdings: operating cash flow against capital spendingOperating cash flowCapital spending−$163M$0Q4 2024−$232M$0Q1 2025$188M$0Q2 2025$140M$0Q3 2025−$227M$0Q4 2025−$65.6M$0Q1 2026$399M$0Q2 2026$155M$0Q3 2026
Latest (Q3 2026): Operating cash flow $155M, Capital spending $0.

Capital allocation, year by year

Camping World Holdings: where the cash came from (up) and went (down), by fiscal yearCamping World Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $154MFY2021: Net borrowing $250MFY2021: Shares issued $4.1MFY2021: Capital spending −$248MFY2021: Acquisitions −$100MFY2021: Buybacks −$156MFY2021: Dividends −$67.2M$408MFY2021FY2022: Operating cash flow $190MFY2022: Net borrowing $109MFY2022: Shares issued $541KFY2022: Capital spending −$211MFY2022: Acquisitions −$217MFY2022: Buybacks −$79.8MFY2022: Dividends −$105M$300MFY2022FY2023: Operating cash flow $311MFY2023: Net borrowing $14.8MFY2023: Shares issued $389KFY2023: Acquisitions −$209MFY2023: Dividends −$66.8M$326MFY2023FY2024: Operating cash flow $245MFY2024: Net borrowing $35.5MFY2024: Shares issued $549KFY2024: Asset sales $20.0MFY2024: Acquisitions −$72.3MFY2024: Dividends −$24.7M$301MFY2024FY2025: Operating cash flow −$132MFY2025: Net borrowing −$58.3MFY2025: Asset sales $11.0MFY2025: Acquisitions −$81.2MFY2025: Dividends −$31.4M$11.0MFY2025
Over these 5 years operating cash flow totalled $768M; the largest uses were acquisitions ($680M) and capital spending ($458M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$264M
Debt$1.4B
Net debt$1.2B
Due within a year$57.9M

Camping World Holdings funds itself: free cash flow was $261M over the last twelve months, and $264M of cash and investments stands against $1.4B of debt ($57.9M due within a year, 4.6× covered by cash).

Camping World Holdings: debt maturities by year (FY2025)Camping World Holdings: debt maturities by year (FY2025)$57.9MYear 1$128MYear 2$1.3BYear 3$246KYear 4$258KYear 5$3.5MAfter year 5
Principal due in each year as disclosed in the annual report, against $264M of cash and investments now.

Where the cash came from and went

Camping World Holdings: sources (+) and uses (−) of cash, Q3 2026Camping World Holdings: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$155MNet borrowing (+) / repaid (−)−$117MCash drawn (+) / kept (−)−$39.7MOther financing$30.1MOther investing−$27.9MTaxes on employees’ shares−$271K
Camping World Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Camping World Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$261MOther financing−$136MNet borrowing (+) / repaid (−)−$71.3MCash drawn (+) / kept (−)−$33.2MDividends−$7.9MAcquisitions−$7.1MTaxes on employees’ shares−$4.0MOther investing−$752K

From profit to cash

Camping World Holdings: net income to operating cash flow, Q3 2026Camping World Holdings: net income to operating cash flow, Q3 2026Net income−$320MDepreciation & amortization$27.0MStock-based pay$3.6MImpairments$287MGains on disposals−$25KInventory$91.3MPayables−$31.9MDeferred revenue$306KPrepaid and other assets$8.5MOther operating capital$6.0MOperating cash flow$155M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026914518137
Q2 2026713216123
Q1 20261020318195
Q4 20251122821219
Q3 2025714618134
Q2 2025613718126
Q1 2025818018170
Q4 2024920020189

Every quarter

QuarterOperating cash flowAcquisitionsDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$155M——−$117M−$39.7M$155M
Q2 2026$399M−$19K—−$14.4M−$24.2M$399M
Q1 2026−$65.6M−$7.0M—−$58.2M$15.2M−$65.6M
Q4 2025−$227M—−$7.9M−$14.5M$15.5M−$227M
Q3 2025$140M−$49K−$7.9M−$27.6M−$112M$140M
Q2 2025$188M−$590K−$7.8M−$8.1M−$97.2M$188M
Q1 2025−$232M−$80.6M−$7.8M−$8.0M$188M−$232M
Q4 2024−$163M−$10.0M−$7.8M−$47.9M−$180M−$163M

Camping World Holdings: income statement and cash flow

Camping World Holdings, Q3 2026: revenue $1.6B (-12% year over year), operating margin -17.3%. The chart follows the revenue to costs, profit and cash.

Camping World Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.