Camping Beneish M Score

CWH
 Stock
  

USD 29.02  1.33  4.38%   

This module uses fundamental data of Camping World to approximate the value of its Beneish M Score. Camping World M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Continue to Camping World Piotroski F Score and Camping World Altman Z Score analysis.
  
Camping World Issuance Repayment of Debt Securities is most likely to in the upcoming years. The last year's value of Issuance Repayment of Debt Securities was reported at 735.9 Million. The current Long Term Debt to Equity is estimated to increase to 10.68, while Total Debt is projected to decrease to roughly 3 B. Camping World Calculated Tax Rate is most likely to increase in the upcoming years. The last year's value of Calculated Tax Rate was reported at 12.55. The current PPandE Turnover is estimated to increase to 18.45, while Receivables Turnover is projected to decrease to 65.98.
At this time, it appears that Camping World Holdings is a possible manipulator. The earnings manipulation may begin if Camping World's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Camping World executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Camping World's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-2.1
Beneish M Score - Possible Manipulator
Elasticity of Receivables1.08Focus
Asset QualityN/AFocus
Expense Coverage0.98Focus
Gross Margin Strengs1.01Focus
Accruals Factor0.98Focus
Depreciation Resistance0.98Focus
Net Sales Growth0.9Focus
Financial Leverage Condition1.03Focus

Camping World Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Camping World's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Revenues6.2 B6.9 B
Moderately Down
Increasing
Slightly volatile
Selling General and Administrative Expense1.4 B1.6 B
Fairly Down
Increasing
Slightly volatile
Net Cash Flow from Operations200.1 M154 M
Significantly Up
Increasing
Slightly volatile
Depreciation Amortization and Accretion103.4 M126.9 M
Significantly Down
Increasing
Slightly volatile
Total Assets3.9 B4.4 B
Fairly Down
Increasing
Slightly volatile
Property Plant and Equipment Net1.1 B1.4 B
Significantly Down
Increasing
Slightly volatile
Trade and Non Trade Receivables98.8 M101.6 M
Fairly Down
Increasing
Slightly volatile
Total Liabilities3.8 B4.1 B
Significantly Down
Increasing
Slightly volatile
Current Assets2.1 B2.3 B
Notably Down
Increasing
Slightly volatile
Assets Non Current1.7 B2.1 B
Fairly Down
Increasing
Slightly volatile
Current Liabilities1.5 B1.6 B
Sufficiently Down
Increasing
Slightly volatile
Liabilities Non Current2.3 B2.5 B
Fairly Down
Increasing
Slightly volatile
Total DebtB3.3 B
Moderately Down
Increasing
Slightly volatile
Debt Current1.1 B1.1 B
Sufficiently Down
Increasing
Slightly volatile
Debt Non CurrentB2.2 B
Fairly Down
Increasing
Slightly volatile
Operating Income875.7 M811.6 M
Significantly Up
Increasing
Slightly volatile
Gross Margin0.360.355
Fairly Up
Increasing
Slightly volatile

Camping World Holdings Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Camping World's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Camping World in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Camping World's degree of accounting gimmicks and manipulations.

About Camping World Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Operating Expenses

1.45 Billion

Camping World Operating Expenses is most likely to increase significantly in the upcoming years. The last year's value of Operating Expenses was reported at 1.64 Billion

Camping World Earnings Manipulation Drivers

Although earnings manipulation is typically not the result of intentional misconduct by the c-level executives, it is still a widespread practice by the senior management of public companies such as Camping World. It is usually done by a series of misrepresentations of various accounting rules and operating activities across multiple financial cycles. The best way to spot the manipulation is to examine the historical financial statement to find inconsistencies in earning reports to find trends in assets or liabilities that are not sustainable in the future.
201720182019202020212022 (projected)
Revenues4.28 B4.79 B4.89 B5.45 B6.91 B6.23 B
Total Assets2.57 B2.81 B3.38 B3.26 B4.37 B3.89 B
Current Assets1.81 B1.89 B1.69 B1.49 B2.28 B2.14 B
Assets Non Current759.7 M918.52 M1.69 B1.76 B2.09 B1.75 B
Total Liabilities2.5 B2.77 B3.54 B3.27 B4.14 B3.79 B
Current Liabilities1.33 B1.31 B1.3 B1.04 B1.6 B1.53 B
Total Debt1.89 B2.09 B2.96 B2.58 B3.34 B3.04 B
Debt Current984.35 M898.98 M920.73 M599.27 M1.09 B1.05 B
Debt Non Current907.46 M1.19 B2.04 B1.98 B2.25 B1.98 B
Operating Income356.34 M201.4 M8.75 M476.19 M811.62 M875.7 M

About Camping World Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Camping World Holdings's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Camping World using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Camping World Holdings based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Camping World Holdings, Inc., through its subsidiaries, retails recreational vehicles , and related products and services. The company was founded in 1966 and is headquartered in Lincolnshire, Illinois. Camping World operates under Auto Truck Dealerships classification in the United States and is traded on New York Stock Exchange. It employs 12584 people.

Camping World Investors Sentiment

The influence of Camping World's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Camping. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.
Investor biases related to Camping World's public news can be used to forecast risks associated with investment in Camping. The trend in average sentiment can be used to explain how an investor holding Camping can time the market purely based on public headlines and social activities around Camping World Holdings. Please note that most equiteis that are difficult to arbitrage are affected by market sentiment the most.
Camping World's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Camping World's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Camping World's news discussions. The higher the estimate score, the more favorable is the investor's outlook on Camping World.

Camping World Implied Volatility

    
  63.3  
Camping World's implied volatility exposes the market's sentiment of Camping World Holdings stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Camping World's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Camping World stock will not fluctuate a lot when Camping World's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Camping World in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Camping World's short interest history, or implied volatility extrapolated from Camping World options trading.

Pair Trading with Camping World

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Camping World position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Camping World will appreciate offsetting losses from the drop in the long position's value.

Moving together with Camping World

0.87MCFTMcbc Holdings Fiscal Year End 1st of September 2022 PairCorr
The ability to find closely correlated positions to Camping World could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Camping World when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Camping World - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Camping World Holdings to buy it.
The correlation of Camping World is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Camping World moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Camping World Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Camping World can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
Continue to Camping World Piotroski F Score and Camping World Altman Z Score analysis. Note that the Camping World Holdings information on this page should be used as a complementary analysis to other Camping World's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Piotroski F Score module to get Piotroski F Score based on binary analysis strategy of nine different fundamentals.

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Is Camping World's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Camping World. If investors know Camping will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Camping World listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
-0.14
Market Capitalization
1.2 B
Quarterly Revenue Growth YOY
0.052
Return On Assets
0.12
Return On Equity
2.15
The market value of Camping World Holdings is measured differently than its book value, which is the value of Camping that is recorded on the company's balance sheet. Investors also form their own opinion of Camping World's value that differs from its market value or its book value, called intrinsic value, which is Camping World's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Camping World's market value can be influenced by many factors that don't directly affect Camping World's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Camping World's value and its price as these two are different measures arrived at by different means. Investors typically determine Camping World value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Camping World's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.