The state transition matrix are obtained by solving state equations in terms of Laplace inverse transformation and Cayley-Hamilton theorem, and an establishment of a precise discrete-iterative mapping of the voltage-fed buck-boost converter operating in discontinuous conduction mode is made. On the basis of the mapping, the converter bifurcation diagrams and Lyapunov exponent diagrams with the input voltage, the resistance, the inductance and the capacitance as the bifurcation parameters are obtained, and the effect of the parameters on the system stability is deeply studied. The results obtained show that they have a great influence on the stability of the system, and the general trend is that the increase of either the voltage-fed coefficient, input voltage or the load resistance, or the decrease of the filtering inductance, capacitance will make the system stability become poorer, and that all the parameters have a critical value, and when they are greater or less than the values, the system will go through stable 1T orbits, stable 2T orbits, 4T orbits, 8T orbits and eventually approaches chaos.