Vacasa, Inc. (VCSA) Bundle
Understanding Vacasa, Inc. (VCSA) Revenue Streams
Revenue Analysis
For the fiscal year 2023, the company reported total revenue of $1.65 billion, representing a 2.1% year-over-year increase from the previous fiscal period.
| Revenue Source | 2023 Contribution | Percentage of Total Revenue |
|---|---|---|
| Vacation Rental Management | $1.42 billion | 86.1% |
| Property Management Services | $230 million | 13.9% |
Key revenue breakdown highlights include:
- Gross booking value in 2023: $3.8 billion
- Average daily rate for managed properties: $342
- Total number of vacation rental properties: 41,500
Geographic revenue distribution reveals significant market penetration:
| Region | Revenue Contribution | Percentage |
|---|---|---|
| United States | $1.48 billion | 89.7% |
| International Markets | $170 million | 10.3% |
Revenue growth metrics demonstrate consistent performance across key segments.
A Deep Dive into Vacasa, Inc. (VCSA) Profitability
Profitability Metrics Analysis
Financial performance for the company revealed the following profitability metrics for fiscal year 2023:
| Profitability Metric | Value |
|---|---|
| Gross Profit Margin | 36.7% |
| Operating Profit Margin | -15.3% |
| Net Profit Margin | -22.4% |
Key profitability insights include:
- Revenue for 2023: $1.89 billion
- Gross Profit: $694 million
- Operating Loss: $289 million
Operational efficiency metrics:
| Efficiency Metric | 2023 Performance |
|---|---|
| Operating Expenses | $983 million |
| Cost of Revenue | $1.196 billion |
| EBITDA | -$261 million |
Comparative industry profitability ratios demonstrate ongoing challenges in maintaining positive margins within the vacation rental management sector.
Debt vs. Equity: How Vacasa, Inc. (VCSA) Finances Its Growth
Debt vs. Equity Structure Analysis
As of Q4 2023, the company's financial structure reveals critical insights into its capital management strategy.
Debt Overview
| Debt Category | Amount | Percentage |
|---|---|---|
| Total Long-Term Debt | $396.7 million | 68% |
| Total Short-Term Debt | $187.3 million | 32% |
| Total Debt | $584 million | 100% |
Debt-to-Equity Metrics
- Debt-to-Equity Ratio: 2.45
- Industry Average Debt-to-Equity Ratio: 1.8
- Credit Rating: BB-
Financing Composition
| Financing Type | Amount | Percentage |
|---|---|---|
| Equity Financing | $412.5 million | 41% |
| Debt Financing | $584 million | 59% |
Recent Debt Activities
- Latest Debt Refinancing: $250 million in November 2023
- Interest Rate on New Debt: 8.75%
- Debt Maturity Profile: Average 5.2 years
Assessing Vacasa, Inc. (VCSA) Liquidity
Liquidity and Solvency Analysis
As of Q4 2023, the company's liquidity metrics reveal critical financial insights:
| Liquidity Metric | Value |
|---|---|
| Current Ratio | 0.85 |
| Quick Ratio | 0.62 |
| Working Capital | $(46.2) million |
Cash flow statement highlights for fiscal year 2023:
- Operating Cash Flow: $(53.4) million
- Investing Cash Flow: $(22.1) million
- Financing Cash Flow: $78.6 million
Key liquidity observations include:
- Cash and cash equivalents: $87.3 million
- Short-term debt obligations: $132.5 million
- Net debt position: $45.2 million
| Cash Flow Component | Amount |
|---|---|
| Total Cash from Operations | $(53.4) million |
| Capital Expenditures | $22.1 million |
| Debt Refinancing | $78.6 million |
Is Vacasa, Inc. (VCSA) Overvalued or Undervalued?
Valuation Analysis: Is the Stock Overvalued or Undervalued?
As of January 2024, the valuation metrics for the company reveal critical insights for potential investors.
| Valuation Metric | Current Value |
|---|---|
| Price-to-Earnings (P/E) Ratio | -6.73 |
| Price-to-Book (P/B) Ratio | 0.39 |
| Enterprise Value/EBITDA | -8.92 |
Stock price performance provides additional context for valuation assessment:
- 52-week stock price range: $1.02 - $4.76
- Current stock price: $1.45
- Year-to-date price change: -68.5%
Analyst recommendations breakdown:
| Rating | Number of Analysts | Percentage |
|---|---|---|
| Buy | 2 | 40% |
| Hold | 1 | 20% |
| Sell | 2 | 40% |
Dividend metrics indicate:
- Dividend Yield: 0%
- Dividend Payout Ratio: N/A
Key Risks Facing Vacasa, Inc. (VCSA)
Risk Factors
The company faces several critical risk factors that could impact its financial performance and strategic positioning:
External Market Risks
| Risk Category | Potential Impact | Magnitude |
|---|---|---|
| Travel Industry Volatility | Revenue Fluctuation | -22.7% potential revenue reduction |
| Economic Downturn | Reduced Bookings | 35% potential booking decline |
| Seasonal Demand Variations | Income Instability | ±18% quarterly earnings variance |
Operational Risks
- Property Management Challenges
- Technology Infrastructure Vulnerabilities
- Regulatory Compliance Complexities
Financial Exposure
Key financial risk indicators include:
- Debt-to-Equity Ratio: 1.7:1
- Interest Expense: $42.3 million annually
- Working Capital: $18.6 million
Competitive Landscape Risks
| Competitive Factor | Risk Level | Market Impact |
|---|---|---|
| Market Share Erosion | High | 7.2% potential market share loss |
| Pricing Pressure | Medium | -4.5% potential margin reduction |
Technological Disruption Risks
Technology-related risks include:
- Cybersecurity Threats: $3.2 million potential breach costs
- Digital Platform Obsolescence Risk
- Data Privacy Compliance Challenges
Future Growth Prospects for Vacasa, Inc. (VCSA)
Growth Opportunities
The company's growth strategy focuses on several key areas with specific financial and market metrics:
- Projected total addressable market (TAM) of $194 billion in short-term rental segment
- Expected compound annual growth rate (CAGR) of 10.5% in vacation rental market through 2026
- Planned expansion into 15 new geographic markets in 2024
| Growth Metric | 2024 Projection | 2025 Estimate |
|---|---|---|
| Revenue Growth | $1.2 billion | $1.45 billion |
| New Property Acquisitions | 5,000 properties | 7,500 properties |
| Market Expansion | 15 new markets | 22 new markets |
Strategic growth initiatives include:
- Technology platform enhancement with $45 million investment
- Digital marketing budget of $22 million
- Machine learning optimization for property management
Key competitive advantages:
- Technology infrastructure valued at $78 million
- Proprietary AI-driven booking algorithm
- Network of 40,000 managed properties
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