Company Valuation: Orange

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 24,775 24,661 27,400 25,593 37,752 37,634 - -
Change - -0.46% 11.11% -6.6% 47.51% -0.31% - -
Enterprise Value (EV) 1 49,044 49,959 54,402 48,075 60,278 76,472 75,040 73,009
Change - 1.87% 8.89% -11.63% 25.38% 26.87% -1.87% -2.71%
P/E - 12.7x 12.1x 11.7x 101x 10.8x 12.6x 11.1x
PBR 0.77x 0.78x 0.86x 0.81x 1.27x 1.23x 1.16x 1.12x
PEG - - 0.7x -3.32x -1.2x 0x -0.9x 0.8x
Capitalization / Revenue 0.58x 0.57x 0.62x 0.64x 0.93x 0.83x 0.77x 0.75x
EV / Revenue 1.15x 1.15x 1.23x 1.19x 1.49x 1.69x 1.53x 1.46x
EV / EBITDA 3.9x 3.85x 4.17x 3.97x 4.83x 5.17x 4.67x 4.39x
EV / EBIT 6.15x 8.41x 9.7x 8.76x 13.2x 12.5x 10.9x 10.2x
EV / FCF 13.7x 12.9x 10.4x 12.8x 13.2x 16.1x 14.3x 12.9x
FCF Yield 7.29% 7.73% 9.63% 7.84% 7.58% 6.21% 7% 7.75%
Dividend per Share 2 0.7 0.7 0.7 0.72 0.75 0.7872 0.8196 0.8513
Rate of return 7.44% 7.54% 6.79% 7.48% 5.28% 5.56% 5.79% 6.01%
EPS 2 - 0.73 0.85 0.82 0.14 1.306 1.122 1.274
Distribution rate - 95.9% 82.4% 87.8% 536% 60.3% 73% 66.8%
Net sales 1 42,522 43,471 44,122 40,260 40,396 45,269 49,174 50,029
EBITDA 1 12,566 12,963 13,035 12,109 12,470 14,779 16,075 16,635
EBIT 1 7,969 5,943 5,610 5,489 4,568 6,112 6,894 7,151
Net income 1 233 2,146 2,440 2,350 538 3,770 3,111 3,516
Net Debt 1 24,269 25,298 27,002 22,482 22,526 38,838 37,406 35,375
Reference price 2 9.41 9.28 10.30 9.63 14.20 14.16 14.16 14.16
Nbr of stocks (in thousands) 2,631,971 2,657,122 2,659,182 2,658,153 2,658,600 2,657,769 - -
Announcement Date 2/17/22 2/16/23 2/15/24 2/13/25 2/18/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.96x1.29x4.1x7.08% 221B
10.41x2.5x6.6x5.99% 196B
13x2.12x5.47x4.18% 148B
13.84x1.86x8.12x3.03% 91.12B
11.54x0.88x3.29x6.69% 79B
11.58x1.78x4.5x2.82% 66.07B
14.96x2.66x8.3x5.11% 57.48B
23.05x5.24x19.11x4.74% 54.68B
14.87x2.75x6.11x4.38% 51.37B
Average 13.80x 2.34x 7.29x 4.89% 107.1B
Weighted average by Cap. 12.65x 2.10x 6.37x 5.32%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield