Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Orange Belgium S.A. is a leading telecommunications company operating primarily in Belgium and Luxembourg as a subsidiary of the global Orange Group. It provides a comprehensive range of convergent services, including mobile telecommunications (30.2% of net sales), fixed telephony (16.9%), broadband internet, digital television with original content like Be tv and VOOsport, and equipment sales (9.9%). The company also offers wholesale services to telecom operators (8.2%) and IT solutions, serving over 3 million customers through its high-quality fixed and mobile networks. Notable for being the first nationwide operator to deliver 1Gbps fixed network speeds and recognized as having Belgium's fastest 5G network by Ookla, Orange Belgium supports technological advancements like 5G deployment, IoT, Big Data, and partnerships with MVNOs. Headquartered in Brussels with approximately 2,950 employees, it plays a pivotal role in the wireless telecommunications services sector, fostering digital infrastructure, connectivity, and innovation across residential, business, and wholesale markets in Western Europe.
€21.50
+€0.00 (+0.00%)
EOD Jun 23, 2026 · Twelve Data
Operating margin is thin at 7.85%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 0.6% YoY. The question is whether this is cyclical or a structural shift.
At 35x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Net debt of €2.01B represents 13.5x FCF, leverage limits flexibility.
35.2x earnings, 9.7x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
€1.95B
▼ -0.6% YoY
Net Income (TTM)
€41M
▲ +140.8% YoY
Op. Margin
7.85%
▲ +0.8pp YoY
ROIC
4.94%
▲ +0.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€149M
▲ +11.2% YoY
Op. Cash Flow (TTM)
€525M
▲ +4.6% YoY
Net Debt
€2.01B
Cash & Equiv.
€83M
3Y CAGR: +12.6%
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At a P/E of 35.2 and a price-to-free-cash-flow of 9.7, Orange Belgium (OBEL.XBRU) trades above a two-stage DCF intrinsic value of about €8.59 per share, so at €21.50 the stock looks overvalued (60.0% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Orange Belgium scores 52/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about €8.59 per share for OBEL.XBRU, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around €6.44. At today's €21.50, that puts the stock about 60.0% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Orange Belgium scores 52 out of 100 on Intrinsiqq's quality score, passing 3 of 8 checks, which makes it a mixed business on these measures. Recent fundamentals include a 7.8% operating margin and a 4.9% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full check-by-check breakdown is on the quality scorecard.
That depends on valuation and quality together, not either alone. OBEL.XBRU currently trades above its estimated intrinsic value and scores 52/100 on quality (mixed). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.