DCF valuation is $3 plus....

some asx companys trade at a premium to their DCF.

Current DCF i get is $3.00. so only reason trading lower, shorters taking advantage of its short listed life and track record and initial uncertainty as a 'new' company

EPS at prospectus was 11.05cents, excluding musashi legacy costs and adding musashi ebitda.

5 year growth rate - i input 22%. This is a combination of acquisitions(as stated by CEO a few times- he will target some roll ups) and organic growth in mainly the faster growing vitamins area. Nutralife 225% growth in trader souvenir channel. There is upside in this 22% figure. conservative.

Terminal growth rate - i input 7%. This is a function of above and rising middle class of china/asia into the future 2030.

Years of terminal growth -12 years consistent with 2030 figure. Still fair.

Discount rate - i put 8% as its a small cap but well diversified with stable product lines and industry sector is 'consumer staples' which is less volatile.

so VIT at 1.72 is well undervalued due to reason of being a small cap, lack of track record, lack of dividend paying history, only 1 half year result, and general sector weakness(BKL down from $220, but still up from $90 from the ipo time VIT).