| Component: (Network and Hypercube) | |
| Network | 01-Heading (http://luca.auditchain.finance/report/role/Heading) |
| Hypercube | Heading [Hypercube] |
| Reporting Entity [Aspect] | 0000789019 | http://www.sec.gov/CIK |
| Concept [Aspect] | Period [Aspect] |
|---|---|
| 2018-12-31 | |
| Heading [Set] | |
| Valuation Date | 2018-09-01 |
| Share Price on Valuation Date | 112 |
| Diluted Shares Outstanding | 7794000000 |
| Component: (Network and Hypercube) | |
| Network | 02-Selected Operating Data (http://luca.auditchain.finance/report/role/SelectedOperatingData) |
| Hypercube | Selected Operating Data [Hypercube] |
| Reporting Entity [Aspect] | 0000789019 | http://www.sec.gov/CIK |
| Concept [Aspect] | Period [Aspect] | |||||||
|---|---|---|---|---|---|---|---|---|
| 2023-01-01 | 2023-12-31 | 2022-01-01 | 2022-12-31 | 2021-01-01 | 2021-12-31 | 2020-01-01 | 2020-12-31 | 2019-01-01 | 2019-12-31 | 2018-01-01 | 2018-12-31 | 2017-01-01 | 2017-12-31 | 2016-01-01 | 2016-12-31 | |
| Selected Operating Data [Set] | ||||||||
| Revenue | 177,735,883,600 |
161,578,076,000 |
146,889,160,000 |
133,535,600,000 |
121,396,000,000 |
110,360,000,000 |
89,950,000,000 |
85,320,000,000 |
| EBITDA | 71,094,353,440 |
64,631,230,400 |
58,755,664,000 |
53,414,240,000 |
48,558,400,000 |
49,468,000,000 |
34,149,000,000 |
27,616,000,000 |
| EBIT | 53,320,765,080 |
48,473,422,800 |
44,066,748,000 |
40,060,680,000 |
36,418,800,000 |
46,735,000,000 |
31,927,000,000 |
26,373,000,000 |
| Depreciation and Amortization | 14,218,870,688 |
12,926,246,080 |
11,751,132,800 |
10,682,848,000 |
9,711,680,000 |
10,261,000,000 |
8,778,000,000 |
6,622,000,000 |
| Growth Rates, Selected Operating Data [Set] | ||||||||
| Revenue Growth Rate (%) | 10% |
10% |
10% |
10% |
10% |
|||
| EBITDA Margin (%) | 40% |
40% |
40% |
40% |
40% |
|||
| EBIT Margin (%) | 30% |
30% |
30% |
30% |
30% |
|||
| Depreciation and Amortization as Percent of Revenue | 8% |
8% |
8% |
8% |
8% |
|||
| Component: (Network and Hypercube) | |
| Network | 03-Selected Balance Sheet and Other Data (http://luca.auditchain.finance/report/role/SelectedBalanceSheetAndOtherData) |
| Hypercube | Selected Balance Sheet and Other Data [Hypercube] |
| Reporting Entity [Aspect] | 0000789019 | http://www.sec.gov/CIK |
| Concept [Aspect] | Period [Aspect] | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023-01-01 | 2023-12-31 | 2022-01-01 | 2022-12-31 | 2021-01-01 | 2021-12-31 | 2020-01-01 | 2020-12-31 | 2019-01-01 | 2019-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | |
| Selected Balance Sheet and Other Data [Set] | |||||||||||||
| Cash | 11,946,000,000 |
11,946,000,000 |
11,946,000,000 |
11,946,000,000 |
11,946,000,000 |
11,946,000,000 |
7,663,000,000 |
6,510,000,000 |
|||||
| Accounts Receivable | 46,240,759,093 |
40,921,025,746 |
36,213,297,120 |
32,333,301,000 |
29,129,100,000 |
26,481,000,000 |
19,792,000,000 |
18,277,000,000 |
|||||
| Inventories | 3,284,212,801 |
3,127,821,716 |
2,978,877,825 |
2,837,026,500 |
2,701,930,000 |
2,662,000,000 |
2,181,000,000 |
2,251,000,000 |
|||||
| Prepaid Expenses | 13,578,672,373 |
11,807,541,194 |
10,267,427,125 |
8,928,197,500 |
7,763,650,000 |
6,751,000,000 |
4,897,000,000 |
5,892,000,000 |
|||||
| Accounts Payable | 13,877,764,670 |
12,616,149,700 |
11,469,227,000 |
10,426,570,000 |
9,478,700,000 |
8,617,000,000 |
7,390,000,000 |
6,898,000,000 |
|||||
| Accrued Expenses | 9,828,942,530 |
8,935,402,300 |
8,123,093,000 |
7,384,630,000 |
6,713,300,000 |
6,103,000,000 |
5,819,000,000 |
5,264,000,000 |
|||||
| Debt | 76,898,000,000 |
76,898,000,000 |
76,898,000,000 |
76,898,000,000 |
76,898,000,000 |
76,898,000,000 |
77,837,000,000 |
40,949,000,000 |
|||||
| Property, Plant, and Equipment, Gross | 94,509,558,330 |
85,917,780,300 |
78,107,073,000 |
71,006,430,000 |
64,551,300,000 |
58,683,000,000 |
47,913,000,000 |
38,156,000,000 |
|||||
| Growth Rates [Set] | |||||||||||||
| Accounts Receivable Growth (%) | 13% |
13% |
12% |
11% |
10% |
||||||||
| Inventories Growth (%) | 5% |
5% |
5% |
5% |
1.5% |
||||||||
| Prepaid Expenses Growth (%) | 15% |
15% |
15% |
15% |
15% |
||||||||
| Accounts Payable Growth (%) | 10% |
10% |
10% |
10% |
10% |
||||||||
| Accrued Expenses Growth (%) | 10% |
10% |
10% |
10% |
10% |
||||||||
| Capital Expenditures Growth (%) | 10% |
10% |
10% |
10% |
10% |
||||||||
| Component: (Network and Hypercube) | |
| Network | 04-Free Cash Flow Buildup (http://luca.auditchain.finance/report/role/FreeCashFlowBuildup) |
| Hypercube | Free Cash Flow Buildup [Hypercube] |
| Reporting Entity [Aspect] | 0000789019 | http://www.sec.gov/CIK |
| Concept [Aspect] | Period [Aspect] | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023-01-01 | 2023-12-31 | 2022-01-01 | 2022-12-31 | 2021-01-01 | 2021-12-31 | 2020-01-01 | 2020-12-31 | 2019-01-01 | 2019-12-31 | 2018-01-01 | 2018-12-31 | 2017-01-01 | 2017-12-31 | 2016-01-01 | 2016-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | |
| Free Cash Flow Buildup [Set] | ||||||||||||||
| Total Revenues | $ 177,735,883,600 |
$ 161,578,076,000 |
$ 146,889,160,000 |
$ 133,535,600,000 |
$ 121,396,000,000 |
$ 110,360,000,000 |
$ 89,950,000,000 |
$ 85,320,000,000 |
||||||
| EBITDA | 71,094,353,440 |
64,631,230,400 |
58,755,664,000 |
53,414,240,000 |
48,558,400,000 |
49,468,000,000 |
34,149,000,000 |
27,616,000,000 |
||||||
| EBIT | 53,320,765,080 |
48,473,422,800 |
44,066,748,000 |
40,060,680,000 |
36,418,800,000 |
46,735,000,000 |
31,927,000,000 |
26,373,000,000 |
||||||
| Tax Rate | 22% |
22% |
22% |
22% |
22% |
22% |
||||||||
| EBIAT | 41,590,196,762 |
37,809,269,784 |
34,372,063,440 |
31,247,330,400 |
28,406,664,000 |
|||||||||
| Unlevered Free Cash Flows [Roll Up] | ||||||||||||||
| EBIAT | 41,590,196,762 |
37,809,269,784 |
34,372,063,440 |
31,247,330,400 |
28,406,664,000 |
|||||||||
| Depreciation and Amortization | 14,218,870,688 |
12,926,246,080 |
11,751,132,800 |
10,682,848,000 |
9,711,680,000 |
10,261,000,000 |
8,778,000,000 |
6,622,000,000 |
||||||
| Accounts Receivable Increase (Decrease) | (5,319,733,347) |
(4,707,728,626) |
(3,879,996,120) |
(3,204,201,000) |
(2,648,100,000) |
|||||||||
| Inventories Increase (Decrease) | (156,391,085) |
(148,943,891) |
(141,851,325) |
(135,096,500) |
(39,930,000) |
|||||||||
| Prepaid Expenses Increase (Decrease) | (1,771,131,179) |
(1,540,114,069) |
(1,339,229,625) |
(1,164,547,500) |
(1,012,650,000) |
|||||||||
| Accounts Payable Increase (Decrease) | 1,261,614,970 |
1,146,922,700 |
1,042,657,000 |
947,870,000 |
861,700,000 |
|||||||||
| Accrued Expenses Increase (Decrease) | 893,540,230 |
812,309,300 |
738,463,000 |
671,330,000 |
610,300,000 |
|||||||||
| Capital Expenditures | (8,591,778,030) |
(7,810,707,300) |
(7,100,643,000) |
(6,455,130,000) |
(5,868,300,000) |
|||||||||
| Unlevered Free Cash Flows | $ 42,125,189,009 |
$ 38,487,253,978 |
$ 35,442,596,170 |
$ 32,590,403,400 |
$ 30,021,364,000 |
|||||||||
| Present Value of Free Cash Flows [Set] | ||||||||||||||
| Unlevered Free Cash Flows | $ 42,125,189,009 |
$ 38,487,253,978 |
$ 35,442,596,170 |
$ 32,590,403,400 |
$ 30,021,364,000 |
|||||||||
| Discount Rate (WACC) | 12.3% |
12.3% |
12.3% |
12.3% |
12.3% |
12.3% |
||||||||
| Present Value of Free Cash Flows | 23,608,666,306 |
24,218,129,591 |
25,040,516,417 |
25,852,442,011 |
26,738,456,798 |
125,458,211,123 |
||||||||
| Sum of Present Values of FCFs | 125,458,211,123 |
|||||||||||||
| Component: (Network and Hypercube) | |
| Network | 05-Terminal Value (http://luca.auditchain.finance/report/role/TerminalValue) |
| Hypercube | Terminal Value [Hypercube] |
| Reporting Entity [Aspect] | 0000789019 | http://www.sec.gov/CIK |
| Concept [Aspect] | Period [Aspect] | ||||||
|---|---|---|---|---|---|---|---|
| 2023-01-01 | 2023-12-31 | 2022-01-01 | 2022-12-31 | 2021-01-01 | 2021-12-31 | 2020-01-01 | 2020-12-31 | 2019-01-01 | 2019-12-31 | 2018-01-01 | 2018-12-31 | 2018-12-31 | |
| Terminal Value [Set] | |||||||
| Long Term Growth Rate | 1% |
||||||
| WACC | 12.3% |
12.3% |
12.3% |
12.3% |
12.3% |
12.3% |
|
| Free Cash Flow | 46,337,707,909 |
||||||
| Terminal Value | 2,034,275,284,202 |
||||||
| Present Value of Terminal Value | 1,140,090,465,809 |
||||||
| Component: (Network and Hypercube) | |
| Network | 06-Weighted Average Cost of Capital (WACC) (http://luca.auditchain.finance/report/role/WACC) |
| Hypercube | Weighted Average Cost of Capital [Hypercube] |
| Reporting Entity [Aspect] | 0000789019 | http://www.sec.gov/CIK |
| Concept [Aspect] | Period [Aspect] | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023-01-01 | 2023-12-31 | 2022-01-01 | 2022-12-31 | 2021-01-01 | 2021-12-31 | 2020-01-01 | 2020-12-31 | 2019-01-01 | 2019-12-31 | 2018-01-01 | 2018-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | |
| Weighted Average Cost of Capital Components [Set] | ||||||||||||||
| Share Price | $ 112 |
|||||||||||||
| Diluted Shares Outstanding | 7794000000 |
|||||||||||||
| Cost of Debt | 5.2% |
|||||||||||||
| Tax Rate | 22% |
22% |
22% |
22% |
22% |
22% |
||||||||
| After-tax Cost of Debt | 4.1% |
|||||||||||||
| Cost of Equity | 13% |
|||||||||||||
| Total Capital [Roll Up] | ||||||||||||||
| Total Debt | 76,898,000,000 |
76,898,000,000 |
76,898,000,000 |
76,898,000,000 |
76,898,000,000 |
76,898,000,000 |
77,837,000,000 |
40,949,000,000 |
||||||
| Total Equity | 875,500,020,000 |
|||||||||||||
| Total Capital | $ 952,398,020,000 |
|||||||||||||
| Weightings [Set] | ||||||||||||||
| Debt Weighting | 8.1% |
|||||||||||||
| Equity Weighting | 91.9% |
|||||||||||||
| Resulting WACC [Set] | ||||||||||||||
| WACC | 12.3% |
12.3% |
12.3% |
12.3% |
12.3% |
12.3% |
||||||||
| Component: (Network and Hypercube) | |
| Network | 07-Enterprise Value to Equity Value (http://luca.auditchain.finance/report/role/EnterpriseValueToEquityValue) |
| Hypercube | Enterprise Value to Equity Value [Hypercube] |
| Reporting Entity [Aspect] | 0000789019 | http://www.sec.gov/CIK |
| Concept [Aspect] | Period [Aspect] |
|---|---|
| 2018-12-31 | |
| Equity Value [Roll Up] | |
| Enterprise Value | $ 1,265,548,676,932 |
| Less: Net Debt | 64,952,000,000 |
| Equity Value | $ 1,200,596,676,932 |
| Equity Value per Share [Set] | |
| Equity Value | $ 1,200,596,676,932 |
| Diluted Shares Outstanding | 7794000000 |
| Equity Value per Share | 154 |
| Component: (Network and Hypercube) | |
| Network | 08-Conclusion (http://luca.auditchain.finance/report/role/Conclusion) |
| Hypercube | Conclusion [Hypercube] |
| Reporting Entity [Aspect] | 0000789019 | http://www.sec.gov/CIK |
| Unit [Aspect] | iso4217:USD/shares |
| Concept [Aspect] | Period [Aspect] |
|---|---|
| 2018-12-31 | |
| Valuation Gap [Roll Up] | |
| Equity Value per Share | 154 |
| Share Price on Valuation Date | 112 |
| Valuation Gap per Share | 42 |
