Projected Income Statement: Orange

Forecast Balance Sheet: Orange

Forecast Balance Sheet - Orange
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 24,269 25,298 27,002 22,482 22,526 36,250 38,844 36,937
Change - 4.24% 6.74% -16.74% 0.2% 60.93% 7.16% -4.91%
Announcement Date 17/02/22 16/02/23 15/02/24 13/02/25 18/02/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: Orange

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 7,660 7,371 6,815 6,425 6,208 7,514 7,738 7,668
Change - -3.77% -7.54% -5.72% -3.38% 21.04% 2.97% -0.91%
Free Cash Flow (FCF) 1 3,576 3,864 5,239 3,770 4,572 4,113 4,818 5,272
Change - 8.05% 35.58% -28.04% 21.27% -10.05% 17.15% 9.42%
Announcement Date 17/02/22 16/02/23 15/02/24 13/02/25 18/02/26 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: Orange

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 29.55% 29.82% 29.54% 30.08% 30.87% 32.47% 32.81% 33.37%
EBIT Margin (%) 18.74% 13.67% 12.71% 13.63% 11.31% 15.5% 13.87% 14.16%
EBT Margin (%) 4.09% 8.93% 8.53% 10.57% 5.47% 15.5% 10.13% 11.18%
Net margin (%) 0.55% 4.94% 5.53% 5.84% 1.33% 9.57% 6.08% 6.82%
FCF margin (%) 8.41% 8.89% 11.87% 9.36% 11.32% 9.04% 9.76% 10.5%
FCF / Net Income (%) 1,534.76% 180.06% 214.71% 160.43% 849.81% 94.45% 160.53% 154.01%

Profitability

        
ROA 0.22% 1.97% 2.22% 2.2% 0.51% 3.68% 2.95% 3.13%
ROE 6.1% 6.69% 7.67% 7.39% 1.75% 11.1% 8.44% 8.98%

Financial Health

        
Leverage (Debt/EBITDA) 1.93x 1.95x 2.07x 1.86x 1.81x 2.45x 2.4x 2.2x
Debt / Free cash flow 6.79x 6.55x 5.15x 5.96x 4.93x 8.81x 8.06x 7.01x

Capital Intensity

        
CAPEX / Current Assets (%) 18.01% 16.96% 15.45% 15.96% 15.37% 16.51% 15.68% 15.27%
CAPEX / EBITDA (%) 60.96% 56.86% 52.28% 53.06% 49.78% 50.86% 47.78% 45.77%
CAPEX / FCF (%) 214.21% 190.76% 130.08% 170.42% 135.78% 182.72% 160.61% 145.45%

Items per share

        
Cash flow per share 1 4.228 4.182 4.531 3.833 4.052 4.136 4.598 4.697
Change - -1.09% 8.35% -15.4% 5.72% 2.08% 11.16% 2.15%
Dividend per Share 1 0.7 0.7 0.7 0.72 0.75 0.787 0.8196 0.8513
Change - 0% 0% 2.86% 4.17% 4.93% 4.14% 3.87%
Book Value Per Share 1 12.16 11.96 11.97 11.95 11.19 12.73 12.74 13.12
Change - -1.66% 0.1% -0.14% -6.39% 13.81% 0.02% 3.02%
EPS 1 - 0.73 0.85 0.82 0.14 1.572 1.143 1.268
Change - - 16.44% -3.53% -82.93% 1,023.17% -27.29% 10.86%
Nbr of stocks (in thousands) 26,31,971 26,57,122 26,59,182 26,58,153 26,58,600 26,57,769 26,57,769 26,57,769
Announcement Date 17/02/22 16/02/23 15/02/24 13/02/25 18/02/26 - - -
1EUR
Estimates
2026 *2027 *
P/E 9.93x 13.7x
PBR 1.23x 1.23x
EV / Sales 1.71x 1.63x
Yield 5.04% 5.25%

EPS & Dividend

EPS & Dividend - Orange


Y-o-Y evolution of P/E

Valuation ratios - P/E - Orange
 

Year-on-year evolution of the Yield

Valuation ratios - Yield - Orange
Trader
Investor
Global
Quality
ESG MSCI
BBB
MarketScreener Ratings - Orange
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
15.62EUR
Average target price
18.85EUR
Spread / Average Target
+20.68%