The outer race of a constant velocity (CV) joint having six inner ball grooves has traditionally been manufactured by multi-stage warm forging, which includes forward extrusion, upsetting, backward extrusions, necking, ironing and sizing, and machining. In the current study, a multi-stage cold forging process is examined and an assessment for replacing and modifying the conventional multi-stage warm forging is made. The proposed procedure is simplified to the backward extrusion of the conventional process, and the sizing and necking are combined into a single sizing-necking step. Thus, the forging surface of the six ball grooves can be obtained without additional machining. To verify the suitability of the proposed process, a 3-dimensional numerical simulation on each operation was performed. The forging loads were also predicted. In addition, a structural integrity evaluation for the tools was carried out. Based on the results, it is shown that the dimensional requirements of the outer race can be well met.