CVCO
Cavco Industries, Inc. (CVCO)
Last Price$518.4(1.2%)
Market Cap$4,262.3M
DCF value
$259.7
Overvalued (DCF value)
(49.9%)
Discount Rate
9.8%
Long-Term Growth Rate
2.5%
Stock quality
6/10
Good

CVCO DCF Model

Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
Mar'20 ActualApr'21 ActualApr'22 ActualApr'23 ActualMar'24 ActualMar'25 EstimateMar'26 EstimateMar'27 EstimateMar'28 EstimateMar'29 EstimateMar'30 EstimateMar'31 EstimateMar'32 EstimateMar'33 EstimateMar'34 EstimateMar'35 Terminal
% growth
1,061.8
10.3%
1,108.1
4.4%
1,627.2
46.8%
2,142.7
31.7%
1,794.8
(16.2%)
1,951.3
8.7%
2,092.5
7.2%
2,232.8
6.7%
2,370.8
6.2%
2,504.9
5.7%
2,633.4
5.1%
2,754.6
4.6%
2,866.9
4.1%
2,968.7
3.6%
3,058.6
3.0%
3,135.0
2.5%
84.9
8.0%
88.8
8.0%
202.5
12.4%
184.8
8.6%
179.0
10.0%
202.9
10.4%
217.6
10.4%
232.2
10.4%
246.6
10.4%
260.5
10.4%
273.9
10.4%
286.5
10.4%
298.2
10.4%
308.7
10.4%
318.1
10.4%
326.0
10.4%
NOPAT
% effective tax rate
68.5
6.5%
70.3
6.3%
188.9
11.6%
145.1
6.8%
141.9
7.9%
160.9
8.2%
172.5
8.2%
184.1
8.2%
195.5
8.2%
206.5
8.2%
217.1
8.2%
227.1
8.2%
236.4
8.2%
244.8
8.2%
252.2
8.2%
258.5
8.2%
% of revenue
5.8
0.5%
6.3
0.6%
11.0
0.7%
16.9
0.8%
18.5
1.0%
16.2
0.8%
17.4
0.8%
18.6
0.8%
19.7
0.8%
20.9
0.8%
21.9
0.8%
22.9
0.8%
23.9
0.8%
24.7
0.8%
25.5
0.8%
26.1
0.8%
% of revenue
(14.3)
(1.4%)
(25.5)
(2.3%)
(18.7)
(1.1%)
(44.1)
(2.1%)
(17.4)
(1.0%)
(27.2)
(1.4%)
(29.1)
(1.4%)
(31.1)
(1.4%)
(33.0)
(1.4%)
(34.9)
(1.4%)
(36.7)
(1.4%)
(38.3)
(1.4%)
(39.9)
(1.4%)
(41.3)
(1.4%)
(42.6)
(1.4%)
(43.6)
(1.4%)
18.0
1.7%
33.1
3.0%
(84.7)
(5.2%)
(18.2)
(0.8%)
0.0
0.0%
(39.4)
(2.0%)
(42.2)
(2.0%)
(45.1)
(2.0%)
(47.9)
(2.0%)
(50.6)
(2.0%)
(53.2)
(2.0%)
(55.6)
(2.0%)
(57.9)
(2.0%)
(59.9)
(2.0%)
(61.7)
(2.0%)
(63.3)
(2.0%)
Free Cash Flow to Firm (FCFF)
% of revenue
78.0
7.3%
84.2
7.6%
96.5
5.9%
99.7
4.7%
143.0
8.0%
110.6
5.7%
118.6
5.7%
126.5
5.7%
134.4
5.7%
141.9
5.7%
149.2
5.7%
156.1
5.7%
162.5
5.7%
168.2
5.7%
173.3
5.7%
177.7
5.7%
% of FCFF used in calculation
7.4%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
Discount period
0.50
1.50
2.50
3.50
4.50
5.50
6.50
7.50
8.50
9.50
Discount factor
0.95
0.87
0.79
0.72
0.66
0.60
0.54
0.50
0.45
0.41
Discounted FCFF (DFCFF)
7.8
103.0
100.1
96.8
93.1
89.1
84.9
80.5
75.9
71.2

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CVCO DCF Value

DCF Value Calculation

as of Mar 03, 2025
Sum of DFCFF
% share of EV
802.5M
44.6%
Terminal Value (TV)
2,427.2M
Discounted TV
% share of EV
996.9M
55.4%
Total Debt
35.1M
2,135.2M
Shares outstanding
8,221.7K
FX rate
1.0
49.9% overvalued

Equity Value Bridge

CVCO DCF Financials

Revenue
$1,794.8M -> $3,058.6M 5.5% CAGR
Operating Income
$179.0M -> $318.1M 5.9% CAGR
FCFF
$143.0M -> $173.3M 1.9% CAGR

CVCO DCF sensitivity

DCF value
Long-term Terminal growth rate
1.5%
2.0%
2.5%
3.0%
3.5%
WACC
9.0%
$269.0
$278.0
$289.0
$301.0
$316.0
9.5%
$254.0
$262.0
$270.0
$280.0
$292.0
9.8%
$245.0
$252.0
$260.0
$269.0
$279.0
10.5%
$228.0
$234.0
$240.0
$247.0
$255.0
11.0%
$218.0
$222.0
$228.0
$233.0
$240.0
DCF value, undervalued / overvalued
Long-term Terminal growth rate
1.5%
2.0%
2.5%
3.0%
3.5%
WACC
9.0%
(48.0%)
(46.0%)
(44.0%)
(42.0%)
(39.0%)
9.5%
(51.0%)
(49.0%)
(48.0%)
(46.0%)
(44.0%)
9.8%
(53.0%)
(51.0%)
(50.0%)
(48.0%)
(46.0%)
10.5%
(56.0%)
(55.0%)
(54.0%)
(52.0%)
(51.0%)
11.0%
(58.0%)
(57.0%)
(56.0%)
(55.0%)
(54.0%)

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FAQ

What is Cavco Industries, Inc. DCF (discounted cash flow) valuation?

As of Mar 03, 2025, Cavco Industries, Inc.'s Discounted Cash Flow (DCF) valuation estimates its share price at $259.7. This suggests it may be overvalued by (49.9%) compared to its current price of around $518.4, using a WACC of 9.8% and growth rates of 2.5%.

What is Cavco Industries, Inc. WACC?

As of Mar 03, 2025, Cavco Industries, Inc.'s Weighted Average Cost of Capital (WACC) is approximately 9.8%.

What is Cavco Industries, Inc. Enterprise Value?

As of Mar 03, 2025, Cavco Industries, Inc.'s Enterprise Value (EV) is approximately $1,799.4M. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.