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Investment Screening Report
Alcatel-Lucent · Confidential Information Memorandum
IACalc Report
Thesis: Yield Acquisition — stable cash flows for quarterly distributionsCRITICAL THRESHOLDS BREACHED
Revenue
€14.5B
FY 2014
EBITDA Margin
4.8%
Below 5.0% critical
Gross Leverage
6.95×
Exceeds 6.0× critical
Altman Z-Score
1.43
Distress zone
3 Critical 4 Investigate 6 MonitorReport Grade: A
Investment Read: Gross leverage at 6.95× exceeds the 6.0× critical threshold for yield-focused acquisitions. EBITDA margin of 4.8% falls below the 5.0% minimum for distribution capacity. Source: CIM pp. 14, 27, 43

Real production output from the Alcatel-Lucent CIM

250+
Signals screened
42+
Financial calculators
11
Investment intents
< 7 min
Per analysis
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Run through IACalc
ReproducibilityAsk three times, get three different answers. Output varies with temperature, model version, and prompt.
ReproducibilitySame document, same result. Every time. Published formulas, defined inputs, deterministic code.
Source traceabilityProduces a number. Cannot show which table cell it came from or whether it confused net income with EBITDA.
Source traceabilityEvery value traces to a page, table, and cell. Audit companion shows method, confidence, and extraction state.
Contamination resistanceMay confuse P&L revenue with DCF equity value. Processes text, not table semantics.
Contamination resistance4-layer firewall classifies each table by type. Valuation assumptions never contaminate financial actuals.
Intent-aware judgmentApplies generic financial knowledge. Same answer regardless of your investment thesis.
Intent-aware judgmentEvaluates every signal against thresholds calibrated to your thesis. Same data, different mandate, different verdict.
Cross-method verificationOne answer. No way to cross-check against an independent source.
Cross-method verificationMultiple extractors run in parallel. When two methods agree within 1%, the data is marked verified.

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01

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02

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03

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What you get

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Intent-Aware Screening

Same document, different thesis, different verdicts. The same metric that breaches one buyer's threshold is irrelevant to another's.

Full Source Provenance

Every number traces to a source page and table. Every threshold is documented. The audit trail is not an add-on.

250+ Signals, 42+ Calculators

Altman Z-Score, Beneish M-Score, DuPont analysis, FCF conversion, leverage ratios, and forensic metrics across 9 risk domains.

Under 7 Minutes

Comprehensive screening across 9 risk domains. Your team focuses on the investment decision, not on data extraction.

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Sector benchmarks, peer comparisons, entity profiles. The report doesn't exist in a vacuum.

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If data is not in the document, it is not in the report. No hallucinated ratios, no invented comparables, no assumed benchmarks.

The core differentiator

Same company. Same data. Different buyer. Different verdict.

This isn’t a feature — it’s the whole point. The same financial metric is a critical threshold breach for one buyer and irrelevant to another.

Alcatel-Lucent · EUR 14.5B revenue · 4.8% EBITDA margin · Gross leverage 6.95×

Yield Acquisition

A dividend fund looking for stable, predictable cash flows to distribute to LPs.

Gross Debt / EBITDA
Critical threshold: 6.0×
6.95×
CRITICAL

Leverage exceeds the critical threshold for distribution capacity. EBITDA margin at 4.8% cannot support debt service and distributions simultaneously.

Strategic IP Acquisition

A tech company acquiring for Bell Labs patents and R&D capabilities.

Gross Debt / EBITDA
Critical threshold: 10.0×
6.95×
MONITOR

Leverage reads below the critical threshold but above the investigation level. The IP may justify acquisition; leverage structure needs further evaluation.

Distressed Turnaround

A restructuring fund that buys struggling companies and fixes them.

Gross Debt / EBITDA
Critical threshold: 15.0×
6.95×
WITHIN THRESHOLD

All signals pass under distressed turnaround thresholds. The leverage that breaches yield thresholds is within expected range for restructuring plays.

Nokia acquired Alcatel-Lucent in 2016 for €15.6B — they wanted Bell Labs patents, not cash flow. Every verdict above is the correct answer for that buyer.

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