ORANGE financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data ORANGE files with the SEC in its annual reports.

In EUR millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023
Revenue	40,236	40,708	40,859	41,381	42,238	42,270	42,522	43,471	44,122
Cost of revenue						265	292	434
Gross profit						42,005	42,230	43,037
Operating income	4,742	3,917	4,778	4,829	5,930	5,521	2,521	4,801	4,969
Interest expense	1,583	2,097	1,715			1,314	782	920
Interest income		21	76	56	55	79	119	124	156
Income tax	649	951	1,052	1,309	1,447	-848	962	1,265	871
Income from continuing operations	2,510	869	2,011	2,158	3,226
Net income to minority interests	306	309	197	204	218	233	545	471	451
Net income	2,652	2,813	1,843	1,954	3,004	4,822	233	2,146	2,440
EBITDA	11,207	10,645	11,624	11,876	13,040	12,655
EPS, basic	0.85	0.95	0.59	0.63	1.03	1.72	0.00	0.73	0.85
EPS, diluted	0.85	0.95	0.59	0.62	1.02	1.71	0.00	0.73	0.85

Balance sheet

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023
Cash and equivalents	4,469	6,355	5,810	427	6,481	8,145	8,621	6,004	5,618
Inventory	763	819	827	965	906	814	952	1,048	1,152
Total current assets	15,632	21,038	21,737	21,891	24,987	25,094	25,834	26,803	25,241
Property, plant and equipment	25,123	25,912	26,665	27,119	28,423	29,075	30,484	31,640	33,193
Lease right-of-use assets				6,790	6,700	7,009	7,702	7,936	8,175
Goodwill	26,932	26,979	26,911	27,174	27,644	27,596	24,192	23,113	23,775
Intangible assets	14,327	14,602	14,339	15,135	14,737	15,135	14,940	14,946	15,098
Total assets	92,318	95,411	95,349	104,262	106,689	107,676	108,071	109,650	110,052
Total current liabilities	21,654	25,928	29,057	30,296	27,767	28,294	27,276	29,223	30,526
Lease liabilities					5,593	5,875	6,696	6,901	7,099
Total liabilities	58,236	61,566	61,837	70,898	72,128	70,476	72,710	74,694	74,954
Shareholders' equity	30,907	31,241	30,975	30,785	31,875	34,557	32,341	31,784	31,825
Minority interests	2,360	2,604	2,537	2,580	2,687	2,643	3,020	3,172	3,274
Total equity	34,082	33,845	33,512	33,364	34,561	37,200	35,361	34,956	35,098
Total liabilities and equity	92,318	95,411	95,349	104,262	106,689	107,676	108,071	109,650	110,052

Cash flow statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023
Net income	2,958	3,122	2,040	2,158	3,222	5,055	778	2,617	2,892
Depreciation and amortization	6,465	6,728	6,846	7,047	7,110	7,134
Cash from operations	9,527	8,750	10,174	9,506	10,190	12,697	11,236	11,235	12,054
Cash from investing	-9,406	-4,879	-7,941	-8,552	-9,370	-5,564	-5,976	-10,448	-7,008
Share buybacks			-4	-101	-34		-188
Dividends paid	-1,893	-1,855	-1,963	-2,106	-2,105	-1,820	-2,345	-2,189	-2,242
Cash from financing	-3,924	-1,883	-2,738	-1,131	24	-5,410	-4,834	-3,343	-5,465
Exchange rate effect	13	-102	-40	1	3	-59	50	-61
Income taxes paid					1,079	-1,160	1,028	1,022	1,133

Key metrics

Worked out from the statements above. Latest values use fiscal 2023. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Operating margin	11.3%	Operating income / revenue.
Net margin	5.5%	Net income / revenue.
Operating cash flow margin	27.3%	Cash from operations / revenue.
Return on equity (ROE)	7.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.2%	Net income / average total assets.
Return on invested capital (ROIC)	15.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	1.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	1.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	1.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	3.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-3.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	0.6%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	13.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-20.3%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	4.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	16.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-20.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	6.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	7.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-1.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	4.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	0.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-2.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	0.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	0.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	1.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.83x	Current assets / current liabilities.
Quick ratio	0.18x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.18x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	68.1%	Total liabilities / total assets.
Working capital	-€5.29B	Current assets - current liabilities.
Goodwill and intangibles / assets	35.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	-€7.05B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.40x	Revenue / average total assets.
Fixed asset turnover	1.36x	Revenue / average property, plant and equipment.

Per share

Metric	Value	How it is calculated
EPS, diluted	€0.85	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	€0.85	Net income per basic share, as reported (split-adjusted).
Payout ratio	91.9%	Dividends paid / net income, when net income is positive.

What was ORANGE's revenue in fiscal 2023?

ORANGE reported revenue of €44.12B for fiscal 2023, 1.5% higher than the year before.

Was ORANGE profitable in fiscal 2023?

Yes. Net income was €2.44B, a net margin of 5.5%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to ORANGE