Orange - Public Comps and Valuation Multiples

Orange Overview

About Orange

Orange operates fixed-line and wireless businesses in France, where it is the market leader ahead of Iliad, Bouygues, and SFR, thanks to its incumbent position. It also has telecom businesses in Spain (through MasOrange), Poland, Belgium, Luxembourg, and Central Europe (Romania, Slovakia, and Moldova). Around 20% of revenue comes from emerging African markets, where it mainly operates wireless networks, and 20% comes from the enterprise segment, which serves companies with more than 50 employees in France and internationally.

Founded

1944

HQ

Employees

127K+

Website

orange.com

Sectors

Telecom Service Providers
Internet Service Providers

Financials

LTM Revenue $47.2B

LTM EBITDA $14.9B

EV

$37.4B

Valuation Multiples

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Orange Financials

As of September 2025, Orange reported last 12-month revenue of $47.2B and EBITDA of $14.9B.

In the same period, Orange achieved $2.3B in LTM net income.

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Orange P&L

In the most recent fiscal year, Orange reported revenue of $47.2B and EBITDA of $15.6B.

Orange expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$47.2B	XXX	$47.2B	XXX	XXX	XXX
Gross Profit	n/a	XXX	$27.7B	XXX	XXX	XXX
Gross Margin	n/a	XXX	59%	XXX	XXX	XXX
EBITDA	$14.9B	XXX	$15.6B	XXX	XXX	XXX
EBITDA Margin	32%	XXX	33%	XXX	XXX	XXX
EBIT	$5.6B	XXX	$7.2B	XXX	XXX	XXX
EBIT Margin	12%	XXX	15%	XXX	XXX	XXX
Net Profit	$2.3B	XXX	$2.8B	XXX	XXX	XXX
Net Margin	5%	XXX	6%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Orange including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $47.2B. EBITDA for the last twelve months was $14.9B. In the most recent fiscal year, Orange achieved $47.2B in revenue and $15.6B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$47.2B	Analyst estimates available to subscribers	$47.2B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$27.7B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	58.6% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$14.9B	Analyst estimates available to subscribers	$15.6B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	31.7% EBITDA margin	Analyst estimates available to subscribers	33.0% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$5.6B	Analyst estimates available to subscribers	$7.2B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	11.9% EBIT margin	Analyst estimates available to subscribers	15.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$2.3B	Analyst estimates available to subscribers	$2.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	4.9% net profit margin	Analyst estimates available to subscribers	5.8% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Orange

This financial data table provides comprehensive performance metrics for Orange, a company based in France. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Orange generated $47.2B in revenue over the last twelve months.
The company achieved $14.9B in EBITDA over the last twelve months.
Net income over the last twelve months reached $2.3B.

Fiscal Year Performance

In the most recent fiscal year, Orange reported $47.2B in total revenue.
Fiscal year EBITDA was $15.6B.
The company maintained a gross profit margin of 58.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 33.0%.
Net profit margin reached 5.8% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Orange. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Orange Stock Performance

Orange has current market cap of EUR 35.1B (or $41.1B), and EV of EUR 32.0B (or $37.4B).

Market Cap Evolution

Orange Stock Data

As of October 7, 2025, Orange's stock price is EUR 13 (or $15).

See Orange trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$37.4B	$41.1B	XXX	XXX	XXX	XXX	$0.94

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Orange Valuation Multiples

Orange's trades at 0.8x EV/Revenue multiple, and 2.4x EV/EBITDA.

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Orange Financial Valuation Multiples

As of October 7, 2025, Orange has market cap of $41.1B and EV of $37.4B.

Equity research analysts estimate Orange's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Orange has a P/E ratio of 17.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$41.1B	XXX	$41.1B	XXX	XXX	XXX
EV (current)	$37.4B	XXX	$37.4B	XXX	XXX	XXX
EV/Revenue	0.8x	XXX	0.8x	XXX	XXX	XXX
EV/EBITDA	2.5x	XXX	2.4x	XXX	XXX	XXX
EV/EBIT	6.7x	XXX	5.2x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	17.9x	XXX	14.9x	XXX	XXX	XXX
EV/FCF	11.0x	XXX	10.1x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Orange Margins & Growth Rates

Orange's last 12 month revenue growth is 1%

Orange's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.2M for the same period.

Orange's rule of 40 is 33% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Orange's rule of X is 34% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Orange Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	1%	XXX	1%	XXX	XXX	XXX
EBITDA Margin	32%	XXX	33%	XXX	XXX	XXX
EBITDA Growth	5%	XXX	-5%	XXX	XXX	XXX
Rule of 40	33%	XXX	34%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	34%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	43%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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