Orange Sa (Adr) (ORANY)
OTHER OTC:ORANY
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Orange SA
(OTC:ORANY)
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Rating:58Neutral
Price Target:
$21.00
▲(23.17% Upside)
Action:ReiteratedDate:04/23/26
The score is held back primarily by weakened 2025 profitability and a leveraged balance sheet, despite resilient cash generation. Technicals are mixed (near-term softness within a longer-term uptrend), and valuation is a notable headwind due to a very high P/E. These are partly offset by a constructive earnings update, including an EBITDAaL guidance upgrade and solid Q1 momentum.
Positive Factors
Cash generation
Sustained positive operating cash flow (~€10.4B) and material free cash flow (~€3.3B) provide durable financial flexibility to fund fiber/5G rollouts, service innovation and ordinary shareholder returns. Reliable cash conversion supports deleveraging or targeted M&A even if margins remain under pressure.
Negative Factors
High leverage
A sizable debt load (~€50B) combined with a declining equity base reduces financial headroom. For a capital‑intensive telecom, leverage constrains strategic options, increases refinancing and interest risk, and limits ability to absorb shocks or accelerate network investments without issuing equity or cutting distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained positive operating cash flow (~€10.4B) and material free cash flow (~€3.3B) provide durable financial flexibility to fund fiber/5G rollouts, service innovation and ordinary shareholder returns. Reliable cash conversion supports deleveraging or targeted M&A even if margins remain under pressure.
Read all positive factors
Orange SA (ORANY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$55.12B
Dividend Yield0%
Average Volume (3M)18.34K
Price to Earnings (P/E)14.0
Beta (1Y)-0.11
Revenue Growth4.80%
EPS Growth-74.17%
CountryUS
Employees126,909
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)0.25
Shares Outstanding2,660,056,600
10 Day Avg. Volume20,719
30 Day Avg. Volume18,340
Financial Highlights & Ratios
PEG Ratio-1.84
Price to Book (P/B)3.72
Price to Sales (P/S)2.06
P/FCF Ratio28.29
Enterprise Value/Market Cap1.70
Enterprise Value/Revenue2.06
Enterprise Value/Gross Profit12.94
Enterprise Value/Ebitda6.81
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)1.2
Revenue Forecast (FY)$50.42B
Orange SA Business Overview & Revenue Model
Company Description
Orange S.A. operates as a telecommunications operator in France and internationally. It offers mobile services, such as voice, SMS, and data; and fixed broadband and narrowband services, as well as B2B fixed solutions and network services, includi...
How the Company Makes Money
Orange makes money mainly by selling telecommunications connectivity and related services to consumers, businesses, and other telecom operators. (1) Retail telecom services (largest driver): Orange earns recurring subscription and usage revenue fr...
Orange SA Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive performance: strong Q1 revenue (EUR 10.1bn, +3.5%) and EBITDAaL (+6.6%) growth, clear retail momentum across geographies (notably +13% in MEA), disciplined capex and strategic progress (AI launches, product innovation, MASORANGE approval). However, part of the quarter's strength was supported by anticipated wholesale nonrecurring items (~EUR 100m), mobile ARPU pressure and persistent competitive dynamics in France and Spain. Additional uncertainties include regulatory complexity around the Altice/SFR consortium bid, ongoing Orange Business challenges and geopolitical/energy risks—factors that explain conservative guidance despite strong Q1. On balance, positives (organic growth, execution, product launches, MEA outperformance and guidance upgrade) outweigh the negatives.Positive Updates
Strong Group Revenue Growth
Q1 revenues reached EUR 10.1 billion, up +3.5% year-on-year (underlying growth ~+2.5% after excluding expected positive wholesale nonrecurring items).
Negative Updates
Positive Wholesale Nonrecurring Items (One-offs)
France wholesale included circa EUR 100 million of positive nonrecurring items which materially supported revenue (+6% wholesale) and EBITDAaL in Q1; management notes these were mostly anticipated and already incorporated into guidance, indicating some portion of Q1 strength is nonrecurring.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Group Revenue Growth
Q1 revenues reached EUR 10.1 billion, up +3.5% year-on-year (underlying growth ~+2.5% after excluding expected positive wholesale nonrecurring items).
Read all positive updates
Company Guidance
Orange upgraded 2026 group EBITDAaL guidance from "circa 3%" to "above 3%" while confirming the rest of its 2026 guidance; Q1 revenues were EUR 10.1bn (+3.5% YoY) and Q1 EBITDAaL rose 6.6% (underlying, excluding anticipated French wholesale non‑recurring items: revenues ~+2.5% and EBITDAaL ~+3.5%). Retail services grew ~+1.1% in France and Europe and +13% in Middle East & Africa, French wholesale non‑recurring items were ~EUR 100m, eCapEx/sales remained around 15%, and regional outlooks were reconfirmed — France: stable‑plus EBITDAaL growth; Europe: low‑to‑mid single‑digit EBITDAaL growth; MEA: high single‑digit EBITDAaL growth. The MASORANGE closing is expected in Q2 (revenues +1.2% YoY, >400k mobile lines, synergies on track), and Orange says European energy is ~100% hedged for 2026 (>90% in 2027).Orange SA Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
58
Neutral
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 45.59B | 40.26B | 42.90B | 39.13B | 42.52B |
| Gross Profit | 7.18B | 23.61B | 7.82B | 22.96B | 24.55B |
| EBITDA | 13.36B | 13.29B | 13.70B | 14.19B | 11.33B |
| Net Income | 607.17M | 2.35B | 2.44B | 2.15B | 9.46M |
Balance Sheet | |||||
| Total Assets | 110.76B | 111.07B | 125.63B | 120.79B | 126.60B |
| Cash, Cash Equivalents and Short-Term Investments | 15.21B | 12.23B | 9.16B | 11.21B | 12.38B |
| Total Debt | 50.00B | 49.67B | 58.16B | 45.96B | 41.00B |
| Total Liabilities | 82.11B | 79.79B | 92.33B | 88.76B | 72.71B |
| Stockholders Equity | 25.23B | 27.78B | 29.69B | 28.64B | 30.53B |
Cash Flow | |||||
| Free Cash Flow | 3.32B | 3.77B | 4.57B | 2.58B | 2.94B |
| Operating Cash Flow | 10.35B | 11.03B | 13.03B | 11.81B | 13.28B |
| Investing Cash Flow | -6.19B | -1.58B | -7.57B | -10.98B | -7.06B |
| Financing Cash Flow | -842.39M | -6.20B | -5.91B | -3.51B | -5.72B |
Orange SA Technical Analysis
Neutral
17.05
Price Trends
20.40
Negative
18.62
Positive
17.21
Positive
Market Momentum
0.23
Positive
46.14
Neutral
59.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ORANY, the sentiment is Neutral. The current price of 17.05 is below the 20-day moving average (MA) of 20.48, below the 50-day MA of 20.40, and below the 200-day MA of 17.21, indicating a neutral trend. The MACD of 0.23 indicates Positive momentum. The RSI at 46.14 is Neutral, neither overbought nor oversold. The STOCH value of 59.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ORANY.
Orange SA Risk Analysis
Orange SA disclosed 35 risk factors in its most recent earnings report. Orange SA reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Orange SA Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $16.71B | 16.17 | 15.56% | 6.14% | -5.21% | -7.46% | |
70 Outperform | $24.77B | 13.62 | 9.03% | 5.03% | 2.80% | 11.44% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | $36.24B | 7.35 | -8.37% | 3.77% | 19.66% | -278.57% | |
58 Neutral | $55.12B | 13.97 | 2.41% | 0.00% | 4.80% | -74.17% | |
56 Neutral | $48.47B | 62.07 | 1.73% | ― | -2.93% | -81.11% |
* Communication Services Sector Average
ORANY
Orange SA
20.81
7.09
51.63%
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VOD
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.