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ORANGE BELGIUM (OBEL.BR) Stock Fundamental Analysis

EBR:OBEL - Euronext Brussels - BE0003735496 - Common Stock - Currency: EUR

17.45  +0.2 (+1.16%)

Fundamental Rating

3

Overall OBEL gets a fundamental rating of 3 out of 10. We evaluated OBEL against 6 industry peers in the Wireless Telecommunication Services industry. While OBEL is still in line with the averages on profitability rating, there are concerns on its financial health. OBEL is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

OBEL had positive earnings in the past year.
OBEL had a positive operating cash flow in the past year.
OBEL had positive earnings in each of the past 5 years.
In the past 5 years OBEL always reported a positive cash flow from operatings.
OBEL.BR Yearly Net Income VS EBIT VS OCF VS FCFOBEL.BR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M

1.2 Ratios

OBEL's Return On Assets of 0.54% is on the low side compared to the rest of the industry. OBEL is outperformed by 66.67% of its industry peers.
OBEL has a Return On Equity (2.31%) which is in line with its industry peers.
OBEL has a Return On Invested Capital of 3.15%. This is comparable to the rest of the industry: OBEL outperforms 50.00% of its industry peers.
The Average Return On Invested Capital over the past 3 years for OBEL is in line with the industry average of 6.26%.
Industry RankSector Rank
ROA 0.54%
ROE 2.31%
ROIC 3.15%
ROA(3y)1.11%
ROA(5y)1.76%
ROE(3y)3.59%
ROE(5y)5.18%
ROIC(3y)4.46%
ROIC(5y)4.89%
OBEL.BR Yearly ROA, ROE, ROICOBEL.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

OBEL's Profit Margin of 1.11% is on the low side compared to the rest of the industry. OBEL is outperformed by 66.67% of its industry peers.
In the last couple of years the Profit Margin of OBEL has declined.
The Operating Margin of OBEL (6.95%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of OBEL has grown nicely.
Looking at the Gross Margin, with a value of 67.46%, OBEL belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
In the last couple of years the Gross Margin of OBEL has grown nicely.
Industry RankSector Rank
OM 6.95%
PM (TTM) 1.11%
GM 67.46%
OM growth 3Y7.61%
OM growth 5Y9.59%
PM growth 3Y-27.48%
PM growth 5Y-15.2%
GM growth 3Y4.71%
GM growth 5Y4.35%
OBEL.BR Yearly Profit, Operating, Gross MarginsOBEL.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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1

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so OBEL is destroying value.
Compared to 1 year ago, OBEL has more shares outstanding
The number of shares outstanding for OBEL has been increased compared to 5 years ago.
OBEL has a better debt/assets ratio than last year.
OBEL.BR Yearly Shares OutstandingOBEL.BR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
OBEL.BR Yearly Total Debt VS Total AssetsOBEL.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.2 Solvency

OBEL has an Altman-Z score of 0.97. This is a bad value and indicates that OBEL is not financially healthy and even has some risk of bankruptcy.
OBEL has a worse Altman-Z score (0.97) than 66.67% of its industry peers.
The Debt to FCF ratio of OBEL is 20.08, which is on the high side as it means it would take OBEL, 20.08 years of fcf income to pay off all of its debts.
OBEL has a Debt to FCF ratio of 20.08. This is comparable to the rest of the industry: OBEL outperforms 50.00% of its industry peers.
A Debt/Equity ratio of 2.12 is on the high side and indicates that OBEL has dependencies on debt financing.
OBEL has a Debt to Equity ratio of 2.12. This is amonst the worse of the industry: OBEL underperforms 83.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.12
Debt/FCF 20.08
Altman-Z 0.97
ROIC/WACC0.62
WACC5.11%
OBEL.BR Yearly LT Debt VS Equity VS FCFOBEL.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

2.3 Liquidity

A Current Ratio of 0.61 indicates that OBEL may have some problems paying its short term obligations.
With a Current ratio value of 0.61, OBEL is not doing good in the industry: 83.33% of the companies in the same industry are doing better.
A Quick Ratio of 0.56 indicates that OBEL may have some problems paying its short term obligations.
OBEL has a worse Quick ratio (0.56) than 83.33% of its industry peers.
Industry RankSector Rank
Current Ratio 0.61
Quick Ratio 0.56
OBEL.BR Yearly Current Assets VS Current LiabilitesOBEL.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 48642.86% over the past year.
OBEL shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -9.64% yearly.
The Revenue has grown by 13.96% in the past year. This is quite good.
The Revenue has been growing by 8.26% on average over the past years. This is quite good.
EPS 1Y (TTM)48642.86%
EPS 3Y-19.85%
EPS 5Y-9.64%
EPS Q2Q%118.05%
Revenue 1Y (TTM)13.96%
Revenue growth 3Y13.5%
Revenue growth 5Y8.26%
Sales Q2Q%0.71%

3.2 Future

OBEL is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 33.42% yearly.
OBEL is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -10.97% yearly.
EPS Next Y55.47%
EPS Next 2Y40.71%
EPS Next 3Y33.42%
EPS Next 5YN/A
Revenue Next Year1.17%
Revenue Next 2Y1.06%
Revenue Next 3Y0.55%
Revenue Next 5Y-10.97%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
OBEL.BR Yearly Revenue VS EstimatesOBEL.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B 2B
OBEL.BR Yearly EPS VS EstimatesOBEL.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.2 0.4 0.6 0.8 1

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4

4. Valuation

4.1 Price/Earnings Ratio

OBEL is valuated quite expensively with a Price/Earnings ratio of 51.32.
Based on the Price/Earnings ratio, OBEL is valued a bit more expensive than the industry average as 66.67% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Earnings ratio of 27.50, OBEL is valued quite expensively.
OBEL is valuated rather expensively with a Price/Forward Earnings ratio of 21.80.
Based on the Price/Forward Earnings ratio, OBEL is valued a bit more expensive than the industry average as 66.67% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.44, OBEL is valued a bit cheaper.
Industry RankSector Rank
PE 51.32
Fwd PE 21.8
OBEL.BR Price Earnings VS Forward Price EarningsOBEL.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, OBEL is valued cheaper than 83.33% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of OBEL indicates a somewhat cheap valuation: OBEL is cheaper than 66.67% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 11.02
EV/EBITDA 5.33
OBEL.BR Per share dataOBEL.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
OBEL's earnings are expected to grow with 33.42% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.93
PEG (5Y)N/A
EPS Next 2Y40.71%
EPS Next 3Y33.42%

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0

5. Dividend

5.1 Amount

OBEL does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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ORANGE BELGIUM

EBR:OBEL (7/18/2025, 7:00:00 PM)

17.45

+0.2 (+1.16%)

Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupTelecommunication Services
GICS IndustryWireless Telecommunication Services
Earnings (Last)02-07 2025-02-07/amc
Earnings (Next)07-24 2025-07-24
Inst Owners5.2%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap1.18B
Analysts77.78
Price Target20.57 (17.88%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0.01
Dividend Growth(5Y)-57.8%
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)6.84%
PT rev (3m)17.84%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.24%
Valuation
Industry RankSector Rank
PE 51.32
Fwd PE 21.8
P/S 0.59
P/FCF 11.02
P/OCF 2.34
P/B 1.23
P/tB N/A
EV/EBITDA 5.33
EPS(TTM)0.34
EY1.95%
EPS(NY)0.8
Fwd EY4.59%
FCF(TTM)1.58
FCFY9.07%
OCF(TTM)7.46
OCFY42.74%
SpS29.58
BVpS14.23
TBVpS-9.7
PEG (NY)0.93
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.54%
ROE 2.31%
ROCE 4.2%
ROIC 3.15%
ROICexc 3.21%
ROICexgc 6.38%
OM 6.95%
PM (TTM) 1.11%
GM 67.46%
FCFM 5.35%
ROA(3y)1.11%
ROA(5y)1.76%
ROE(3y)3.59%
ROE(5y)5.18%
ROIC(3y)4.46%
ROIC(5y)4.89%
ROICexc(3y)4.56%
ROICexc(5y)5.09%
ROICexgc(3y)11.41%
ROICexgc(5y)10.53%
ROCE(3y)6.22%
ROCE(5y)6.69%
ROICexcg growth 3Y-7.87%
ROICexcg growth 5Y2.19%
ROICexc growth 3Y-16.49%
ROICexc growth 5Y-3.51%
OM growth 3Y7.61%
OM growth 5Y9.59%
PM growth 3Y-27.48%
PM growth 5Y-15.2%
GM growth 3Y4.71%
GM growth 5Y4.35%
F-Score8
Asset Turnover0.49
Health
Industry RankSector Rank
Debt/Equity 2.12
Debt/FCF 20.08
Debt/EBITDA 3.33
Cap/Depr 83.78%
Cap/Sales 19.86%
Interest Coverage 1.31
Cash Conversion 82.24%
Profit Quality 481.9%
Current Ratio 0.61
Quick Ratio 0.56
Altman-Z 0.97
F-Score8
WACC5.11%
ROIC/WACC0.62
Cap/Depr(3y)156.85%
Cap/Depr(5y)119.41%
Cap/Sales(3y)34.82%
Cap/Sales(5y)26.91%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)48642.86%
EPS 3Y-19.85%
EPS 5Y-9.64%
EPS Q2Q%118.05%
EPS Next Y55.47%
EPS Next 2Y40.71%
EPS Next 3Y33.42%
EPS Next 5YN/A
Revenue 1Y (TTM)13.96%
Revenue growth 3Y13.5%
Revenue growth 5Y8.26%
Sales Q2Q%0.71%
Revenue Next Year1.17%
Revenue Next 2Y1.06%
Revenue Next 3Y0.55%
Revenue Next 5Y-10.97%
EBIT growth 1Y12.13%
EBIT growth 3Y22.15%
EBIT growth 5Y18.64%
EBIT Next Year291.94%
EBIT Next 3Y57.64%
EBIT Next 5Y21.59%
FCF growth 1Y184.99%
FCF growth 3Y-9.07%
FCF growth 5Y-7.65%
OCF growth 1Y33.27%
OCF growth 3Y10.98%
OCF growth 5Y8.17%