Camping World vs Valvoline
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KIRA’s take AI analyst
I put Camping World and Valvoline side by side, using each one’s latest annual report. Here is what stands out:
- Camping World is the larger business, with $6.4B of revenue in fiscal 2025 against $1.7B for Valvoline, about 3.7 times as much.
- Valvoline grew revenue faster (5.6%, against 4.4%).
- Valvoline kept more of each dollar of sales as operating profit (22.8% operating margin, against 2.8%).
- Valvoline earned a higher return on the capital invested in it (18.9%, against 4.9%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Camping World
CWH
0/8
Valvoline
VVV
8/8
Revenue growth5-year growthGross marginOperating marginNet marginReturn on capitalReturn on equityNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | CWH FY25 | VVV FY25 |
|---|---|---|
| Size | ||
| Market cap | — | $4.1B |
| Revenue | $6.4B | $1.7B |
| Free cash flow | — | $38.0M |
| Net income | −$89.8M | $211M |
| Growth | ||
| Revenue growth | 4.4% | 5.6% |
| 5-year growth | 3.2% | 18.7% |
| Share count change | — | −1.8% |
| Profitability | ||
| Gross margin | 29.5% | 38.5% |
| Operating margin | 2.8% | 22.8% |
| Net margin | −1.4% | 12.3% |
| FCF margin | — | 2.2% |
| Return on capital | 4.9% | 18.9% |
| Return on equity | −32.4% | 80.4% |
| Balance sheet | ||
| Net debt | $1.4B | $1.3B |
| Net debt / EBITDA | 5.1x | 2.5x |
| Dividends and buybacks | $31.4M | $76.8M |
| Valuation & quality | ||
| P/E | — | 39.5x |
| Piotroski F-score | — | 7 |
Ten years
Revenue
FY16
CWH $3.5B
VVV $1.9B
FY17
CWH $4.3B
VVV $2.1B
FY18
CWH $4.8B
VVV $2.3B
FY19
CWH $4.9B
VVV $2.4B
FY20
CWH $5.4B
VVV $727M
FY21
CWH $6.9B
VVV $1.0B
FY22
CWH $7.0B
VVV $1.2B
FY23
CWH $6.2B
VVV $1.4B
FY24
CWH $6.1B
VVV $1.6B
FY25
CWH $6.4B
VVV $1.7B
CWH
VVV
Operating margin
FY16
CWH 7.9%
VVV 20.5%
FY17
CWH 8.3%
VVV 18.9%
FY18
CWH 4.2%
VVV 17.3%
FY19
CWH 0.2%
VVV 16.7%
FY20
CWH 8.7%
VVV 22.0%
FY21
CWH 11.6%
VVV 23.2%
FY22
CWH 8.2%
VVV 17.8%
FY23
CWH 4.3%
VVV 17.1%
FY24
CWH 2.4%
VVV 22.7%
FY25
CWH 2.8%
VVV 22.8%
CWH
VVV
Free cash flow
FY16
CWH $159M
VVV $245M
FY17
CWH −$97.1M
VVV −$198M
FY18
CWH −$118M
VVV $227M
FY19
CWH $164M
VVV $217M
FY20
CWH $663M
VVV $278M
FY21
CWH −$93.8M
VVV $301M
FY22
CWH −$20.8M
VVV $152M
FY23
CWH —
VVV −$221M
FY24
CWH —
VVV $40.7M
FY25
CWH —
VVV $38.0M
CWH
VVV
Return on capital
FY16
CWH —
VVV —
FY17
CWH 36.9%
VVV 46.7%
FY18
CWH 14.7%
VVV 23.6%
FY19
CWH 0.7%
VVV 34.8%
FY20
CWH 43.7%
VVV 8.1%
FY21
CWH 57.1%
VVV 11.7%
FY22
CWH 26.3%
VVV 8.3%
FY23
CWH 14.7%
VVV 12.2%
FY24
CWH 6.2%
VVV 20.8%
FY25
CWH 4.9%
VVV 18.9%
CWH
VVV
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.