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Orange S.A (1ORA) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of Orange S.A €8.48, price €13.79, upside -38.5%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Communication Services · IT · Home France · ISIN FR0000133308

OS Some data Oct 2, 2026

Orange S.A

1ORA · MI

Weakest SetupStrongly overvalued and low quality.

!Fair value €8.48 · Strongly overvalued (−38.5%)
!Quality 48/100
!Weak Growth (revenue 3y +1.1 %/yr)
!Thin margins · 1.3% net margin (TTM)
✓Moderate debt · generates free cash flow
✓5.4% dividend yield · Sustainable
!Narrow moat 33/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€18.24 €6.69 Fair Value €8.48 Apr 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.

How to read this chart

60‑month range €6.69 – €18.24 · fair‑value band €6.30 – €14.58 · the €13.79 price screens above the €8.48 fair value. Dashed = 300-day average. As of Oct 2, 2026.

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Company profile

Orange S.A. operates as a telecommunications operator in France and internationally. The company offers mobile services, such as voice, SMS, and data; and fixed broadband and narrowband services, as well as B2B fixed solutions and network services, including voice and data services.

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Orange S.A. operates as a telecommunications operator in France and internationally. The company offers mobile services, such as voice, SMS, and data; and fixed broadband and narrowband services, as well as B2B fixed solutions and network services, including voice and data services. It also sells handsets, broadband equipment, connected devices, and accessories. In addition, it provides IT and integration services comprising unified communication and collaboration services, such as LAN and telephony, consultancy, integration, and project management; hosting and infrastructure services, including cloud computing; customer relations management and other applications services; security services; and video conferencing, as well as sells related equipment. Further, the company offers national and international roaming services; online advertising services; and mobile virtual network operator, network sharing, and mobile financial services, as well as sells equipment to external distributors, brokers, and operators. It markets its products and services under the Orange brand name. The company has a strategic collaboration with Nokia and NVIDIA for the development and evaluation of AI-RAN technologies The company was formerly known as France Telecom and changed its name to Orange S.A. in July 2013. Orange S.A. was incorporated in 1991 and is headquartered in Issy-les-Moulineaux, France.

Stock analysis

Orange S.A (1ORA) currently trades at €13.79, while our model-based Fair Value estimate is €8.48, 38.5% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of €13.39 per share, and 6 of the 24 models we run sit above the €13.79 price.

Bear case: the Earnings-Based group reads lowest at €1.96, and 18 of the 24 models stay below the price. Evidence for this calculation is medium.

Scenario range: €6.30 (bear) to €14.58 (bull), the price of €13.79 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 48/100 (below-average quality), in the Communication Services sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

Orange S.A reported revenue of €40.4B in FY2025 versus €39.1B in FY2022, a compound +1.1%/yr. Reported net income was €538M in FY2025, compounding −36.9%/yr from FY2022.

Key figures

Market cap €42.3B · P/E ratio 125.4 · P/S ratio 1.67 · EPS (TTM) €0.1100 · Dividend yield 5.4% · Net margin 1.3% · Return on equity 3.2% · Return on assets (EBIT) 4.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 24% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at 36% fair-value upside, at −39%, 1ORA screens richer than that median.

Fair Value models

Bear €6.30 Fair Value €8.48 Bull €14.58
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF €8.79 €14.80 €26.42 74
Growth DCF €9.50 €15.36 €25.78 73
Residual Income €7.90 €7.60 €7.50 73
All 24 models by family
DCF Models
FCF DCF €8.79 €14.80 €26.42 74
Owner Earnings €2.06 €5.59 €12.40 66
5Y Revenue Exit €6.84 €13.02 €22.16 67
5Y EBITDA Exit €21.40 €37.96 €60.25 70
5Y P/E Exit €0.5000 €2.16 €4.25 62
10Y Revenue Exit €7.09 €12.16 €17.72 63
10Y EBITDA Exit €16.35 €28.08 €41.18 65
10Y P/E Exit €3.60 €5.23 €6.69 62
Earnings-Based
Graham-Dodd €1.38 €1.96 €2.30 65
EPV €4.31 €6.27 €7.99 71
Dividend Discount
Gordon GGM €6.89 €7.72 €8.83 67
DDM Multi-Stage €6.89 €8.91 €11.56 65
Multiples
P/E Multiple €3.34 €4.45 €5.57 63
P/S Multiple €2.58 €3.44 €4.30 58
P/B Multiple €2.58 €3.44 €4.30 55
EV/EBIT €11.32 €17.58 €23.84 65
EV/EBITDA €35.18 €49.39 €63.61 67
EV/Revenue €6.78 €12.88 €18.99 52
Asset-Based
NCAV (Graham) €5.60 €7.50 €11.19 54
Growth DCF
Growth DCF €9.50 €15.36 €25.78 73
Rev-Margin DCF €6.84 €13.39 €21.60 67
Economic Profit
Residual Income €7.90 €7.60 €7.50 73
ROIC Compounder €4.31 €6.27 €7.99 69
Growth Earnings
Growth-Adj P/E €2.35 €3.36 €4.37 65

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Quality Score breakdown

Overall quality 48/100

Of which business quality 47 · Market factors (momentum, volatility) 48

Profitability 24
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 27
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+0.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.1%
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
−2.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.1%
Dividend (yield on the price)5.4%
Profit margin 2022 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14% → 10%

Growth Forecast

Price in line with expectations
The price assumes more growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +5.2% a year for the price and +6.4% for the forecasts.
Forecast 2026 (sales)+10.7%
Forecast 2027 (sales)+9.7%
Projected 2028 (sales)+8.7%
Projected 2029 (sales)+7.8%
Projected 2030 (sales)+6.8%

1ORA screens overvalued: fair value 39% below the price. Compare with China Mobile Limited →

Recent news

News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.

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Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
China Mobile Limited 80941 HK$67.30 HK$114.85 +71%
Verizon Communications Inc VZ $45.87 $70.27 +53%
T-Mobile US, Inc TMUS $162.98 $272.88 +67%
AT&T Inc T $24.48 $51.11 +109%
Bharti Airtel Limited BHARTIARTL ₹1,741 ₹1,883 +8%
China Telecom Corporation 601728 ¥6.16 ¥8.36 +36%
Saudi Telecom Company 7010 43.22 SAR 41.80 SAR −3%
Singapore Telecommunications Limited Z74 4.28 SGD 2.16 SGD −50%
Swisscom AG SCMN CHF 639.00 CHF 505.18 −21%
Telstra Group TLS A$4.83 A$4.43 −8%

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Cite: Fair Value Calculator (2026). "Orange S.A Fair Value". https://www.fairvalue-calculator.com/stock/1ORA

Frequently asked questions

Is Orange S.A (1ORA) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of €8.48 versus a price of €13.79, about −39% upside (overvalued).
What is the fair value of 1ORA?
Our model-based fair value for Orange S.A is €8.48 (as of Oct 2, 2026), built from audited fundamentals. The current price: €13.79.
What is the quality score of 1ORA?
Orange S.A has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Orange S.A (1ORA)?
Our model-based price target is the fair value of €8.48 (as of Oct 2, 2026) from 24 valuation models. Cautious scenario €6.30, optimistic scenario €14.58. It is a calculation from audited fundamentals, not an analyst target.
What is the Orange S.A stock forecast for 2026?
Our models put fair value at €8.48, about −39% upside versus a price of €13.79 (overvalued). Cautious scenario €6.30, optimistic scenario €14.58. The calculation is refreshed regularly with new filings.
What is the revenue of Orange S.A (1ORA)?
Orange S.A reported trailing-twelve-month revenue of about €40.4B (latest available figure, as of Oct 2, 2026).
Does Orange S.A pay a dividend?
Orange S.A currently shows a dividend yield of about 5.44% relative to its recent price (as of Oct 2, 2026).
What growth is priced into Orange S.A (1ORA)?
For today's price to be fair in a discounted-cash-flow model, Orange S.A would have to grow free cash flow by +7.5 % per year for five years (discount rate 10.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +1.1 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of 1ORA use?
Our models discount Orange S.A at 10.0 %: a base by market capitalisation (large), damped by beta 0.26, country premium for Italy. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Orange S.A that is +7.5 % per year a year over ten years, using the same discount rate (10.0 %) and the same formula as our fair value.
How much growth has Orange S.A (1ORA) delivered so far?
Over the past 3 years revenue at Orange S.A grew +1.1 % a year. The price currently implies +7.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Orange S.A (1ORA) growing?
The median revenue growth in the sector is +9.6 % a year. That is the yardstick for the growth priced into Orange S.A (+7.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Orange S.A (1ORA)?
The free-cash-flow yield on the price is 9.04 %: that much free cash flow Orange S.A produces per unit of market value. When it exceeds the discount rate of our models (10.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Orange S.A (1ORA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Orange S.A it is €8.48 per share (as of Oct 2, 2026), against a price of €13.79. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Orange S.A stock overvalued or undervalued in 2026?
As of Oct 2, 2026, 1ORA trades above its calculated fair value: price €13.79, fair value €8.48, a gap of about −39% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 1ORA?
No. The price is what the market pays today (€13.79); the fair value is what the company's own numbers justify (€8.48). For Orange S.A the two are €5.31 per share apart. That gap is exactly why we show both numbers side by side.
How much is Orange S.A worth?
The market values Orange S.A at about €42.3B (market capitalisation, as of Oct 2, 2026). Per share that is €13.79; our models calculate a fair value of €8.48 per share.
What do the bullish and bearish scenarios say about 1ORA?
Our models span a range for Orange S.A: cautious scenario €6.30, base €8.48, optimistic €14.58 per share (as of Oct 2, 2026, price €13.79). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 1ORA from its 52-week high?
Orange S.A trades at €13.79, about 24% below its 52-week high of €18.24 and 10% above the low of €12.57 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of €8.48 is for.
Which stocks are comparable to Orange S.A?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Orange S.A stock attractive at the current price?
The data as of Oct 2, 2026: price €13.79, calculated fair value €8.48 (−39%), Quality Score 48/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 1ORA calculated?
We run Orange S.A through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €8.48, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Orange S.A itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Orange S.A (1ORA)?
The closing price on Oct 1, 2026 was €13.79. Our model-based fair value is €8.48, about −39% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Orange S.A right now?
Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (€6.30 to €14.58) leaves room in how you read the outcome.

Key figures of Orange S.A

How large is the market capitalisation of Orange S.A (1ORA)?
The market capitalisation of Orange S.A is €42.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Orange S.A (1ORA)?
The price-to-earnings ratio of Orange S.A is 125.4. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Orange S.A (1ORA)?
The price-to-sales ratio of Orange S.A is 1.67 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Orange S.A (1ORA)?
Earnings per share at Orange S.A are €0.1100 (price ÷ EPS = P/E 125.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Orange S.A (1ORA)?
The dividend yield of Orange S.A is 5.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Orange S.A (1ORA)?
The net margin of Orange S.A is 1.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Orange S.A (1ORA)?
The return on equity (ROE) of Orange S.A is 3.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Orange S.A (1ORA)?
On an EBIT basis the return on assets of Orange S.A is 4.9% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Orange S.A (1ORA)?
The operating margin of Orange S.A is 16.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Orange S.A (1ORA)?
Revenue at Orange S.A is growing +0.1% versus a year earlier (3y avg +1.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Orange S.A (1ORA)?
Earnings per share at Orange S.A are growing −1.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Orange S.A (1ORA) carry?
The net debt of Orange S.A is €31.5B (fiscal year 2022, ≈ 9.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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