DCF Tool


Vista Outdoor Inc – Sporting and Athletic Goods Manufacturing
vista outdoor inc. is a leading global designer, manufacturer and marketer of consumer products in the growing outdoor sports and recreation markets. vista employs over 6,000 employees worldwide and has diverse portfolio well-recognized brands that provide a range of performance-driven, high-quality and innovative products, including sporting ammunition and firearms, outdoor accessories, outdoor sports optics, golf rangefinders and performance eyewear. vision: our vision is to be a leading provider of quality products for the outdoor enthusiast, while delivering superior long-term returns to our shareholders, value for our customers and consumers, and rewarding careers for our employees. mission: our mission is to bring the world outside, leverage our capabilities and experience and instill passion into products that help the outdoor enthusiast achieve independence and success in the activity of their choice.
Analysis Results
Intrinsic Value $483.96
Latest Price $28.52
Relative Value 94% undervalued
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Cash Flow (Millions)
Analysis Parameters
New Ticker
Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 13.3%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 2.6%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 13.3%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (million) Present value (million)
2024 581 566
2025 659 625
2026 746 691
2027 845 763
2028 958 842
Terminal Value

Assuming the company was sold after the projection period at an exit multiple of 30, the terminal value of the company would be 28700 million. This corresponds to a present value of 24600 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 3490 million. Adding in the terminal value gives a total present value of 28100 million.

There are presently 58.1 million outstanding shares, so the intrinsic value per share is 483.96.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,196,114,000
Current Cash 86,208,000
Current Liabilities 453,871,000
Current Debt 65,000,000
Non-Cash Working Capital (NCWC) 721,035,000
Change in NCWC 26,549,000
EBIT 482,210,000
Tax Provision 60,380,000
Depreciation and Amortization 92,089,000
Capital Expenditure -38,810,000
Unlevered Free Cash Flow 501,658,000
Current Assets 1,110,943,000
Current Cash 22,584,000
Current Liabilities 393,873,000
Current Debt 0
Non-Cash Working Capital (NCWC) 694,486,000
Change in NCWC 244,336,000
EBIT 646,222,000
Tax Provision 147,732,000
Depreciation and Amortization 72,340,000
Capital Expenditure -42,782,000
Unlevered Free Cash Flow 766,373,446
Current Assets 1,064,232,000
Current Cash 243,265,000
Current Liabilities 370,817,000
Current Debt 0
Non-Cash Working Capital (NCWC) 450,150,000
Change in NCWC 19,215,000
EBIT 272,962,000
Tax Provision -6,628,000
Depreciation and Amortization 65,110,000
Capital Expenditure -30,166,000
Unlevered Free Cash Flow 327,121,000
Current Assets 709,011,000
Current Cash 31,375,000
Current Liabilities 246,701,000
Current Debt 0
Non-Cash Working Capital (NCWC) 430,935,000
Change in NCWC -188,730,000
EBIT 33,214,000
Tax Provision -15,948,000
Depreciation and Amortization 67,858,000
Capital Expenditure -23,768,000
Unlevered Free Cash Flow -111,426,000
Current Assets 939,462,000
Current Cash 21,935,000
Current Liabilities 317,197,000
Current Debt 19,335,000
Non-Cash Working Capital (NCWC) 619,665,000
Change in NCWC -102,937,000
EBIT 10,897,000
Tax Provision -25,829,000
Depreciation and Amortization 77,503,000
Capital Expenditure -42,242,000
Unlevered Free Cash Flow -56,779,000
Current Assets 1,058,692,000
Current Cash 22,870,000
Current Liabilities 345,220,000
Current Debt 32,000,000
Non-Cash Working Capital (NCWC) 722,602,000
Change in NCWC -27,781,000
EBIT 67,869,000
Tax Provision -73,557,000
Depreciation and Amortization 89,759,000
Capital Expenditure -66,627,000
Unlevered Free Cash Flow 63,220,000
Current Assets 1,109,847,000
Current Cash 45,075,000
Current Liabilities 346,389,000
Current Debt 32,000,000
Non-Cash Working Capital (NCWC) 750,383,000
Change in NCWC 203,812,000
EBIT 212,148,000
Tax Provision 23,760,000
Depreciation and Amortization 93,779,000
Capital Expenditure -90,665,000
Unlevered Free Cash Flow 419,074,000
Current Assets 1,049,664,000
Current Cash 151,692,000
Current Liabilities 368,901,000
Current Debt 17,500,000
Non-Cash Working Capital (NCWC) 546,571,000
Change in NCWC 35,873,000
EBIT 262,758,000
Tax Provision 91,370,000
Depreciation and Amortization 72,614,000
Capital Expenditure -41,526,000
Unlevered Free Cash Flow 229,016,426

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