HIGHOutside partySupplier
58.4%
Thor Industries
“10-K Item 1: 'As of December 31, 2025, Thor Industries and Forest River accounted for approximately 58.4% and 34.4%, respectively, of our new RV inventory.'”
CWH · Concentration risk · 10-K extracted
Camping World Holdings (CWH) concentration risks
Updated
The most significant concentration Camping World Holdings discloses is Thor Industries at 58.4%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Camping World Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM2
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inProduct / Revenue mix
43.4%
new vehicle sales
“10-K Item 1: 'Sales of new vehicles represented 43.4%, 46.3% and 41.4% of total revenue for 2025, 2024 and 2023, respectively.'”
MEDIUMOutside partySupplier
34.4%
Forest River
“10-K Item 1: 'As of December 31, 2025, Thor Industries and Forest River accounted for approximately 58.4% and 34.4%, respectively, of our new RV inventory.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Camping World's concentration picture combines a structural revenue mix with a pronounced supplier dependency. New vehicle sales represented 43.4% of total revenue, a structural feature of the dealership model rather than an idiosyncratic risk, since it reflects how the company generates revenue rather than reliance on any one counterparty. The more acute exposure sits on the supply side: Thor Industries alone supplied approximately 58.4% of new RV inventory, with Forest River adding another 34.4% — together these two manufacturers account for the vast majority of what Camping World has to sell. The Thor relationship in particular is disclosed at a high share, making it the exposure most capable of moving the business if the relationship were disrupted, since inventory access from a single manufacturer underpins nearly six in ten new units on the lot. The Forest River share, while smaller, is still a meaningful dependency. Combined, these supplier relationships — more than the structural product mix — are the line item an investor should watch most closely.
For the engine’s reasoning on CWH’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Auto & Truck Dealerships
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CWH● | Camping World Holdings, Inc. | 1 | 2 | 0 | 3 |
| AN | AutoNation, Inc. | 1 | 1 | 2 | 4 |
| ABG | Asbury Automotive Group Inc | 0 | 1 | 2 | 3 |
| ACVA | ACV Auctions Inc. | 0 | 0 | 0 | 0 |
| CARG | CarGurus, Inc. | 0 | 0 | 0 | 0 |
| CVNA | Carvana Co. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.