Equity Brief · Communication Services2026-10-27
OBEL.BR·Communication Services

Orange Belgium S.A.

I · AI Analysis

The brief

Orange Belgium operates telecom networks delivering mobile phone service, home internet, and television to consumers and businesses across Belgium and Luxembourg [Yahoo Finance]. The company is a subsidiary of Atlas Services Belgium and competes in the European telecom services market [Yahoo Finance].

Orange Belgium provides mobile, internet, and television services to residential and business customers in Belgium and Luxembourg [Yahoo Finance]. The company operates as a subsidiary of Atlas Services Belgium, employs about 2,900 people, and generates trailing-twelve-month revenue of EUR 2.0 billion through 30 June 2026 [Yahoo Finance]. Its stock has risen 59% recently and now trades at a forward P/E of 23.0x, while the company carries 3.3x net debt to EBITDA and scores 3.2/10 on financial health [Yahoo Finance] [Sentinellis calculation].

Orange Belgium shows moderate revenue growth but carries elevated leverage and weak returns, earning a 3.2/10 health score [Sentinellis calculation].

The brief AI analysisConfidence 6/10

Sentinellis health

Significant risks

3.2/10

7.5+ strong · 4.5–7.5 moderate · under 4.5 weak

Profitability

16% of score3.3/10
Net margin+2.9%· need ≥ 5.5%, the lower third of Telecom Services in our libraryGross margin+55.1%

Returns on capital

16% of score0.0/10
ROIC+3.4%· need > 10%Return on equity+5.6%· need > 12%

Growth & momentum

11% of score0.0/10
Revenue growth+0.4%· need ≥ 2.5%, the lower third of Telecom Services in our libraryOperating margin trend—· no data

Balance sheet

32% of score3.3/10
Current ratio0.6x· need > 1.2xNet debt / EBITDA3.3xInterest coverage1.4x· need > 3.0xDebt / equity1.96· need < 1.5

Cash generation

16% of score10.0/10
Free cash flowEUR 149.3MCash vs reported profitEUR 525.7M vs EUR 41.3M

Value creation

11% of score0.0/10
ROIC vs cost of capital-0.7pp· need ROIC above WACC

Sentinellis calculation from the published statements — not a score reported by any data source. Each category is scored on the checks that had data; missing inputs are excluded rather than counted as failures.

Market capitalisation

EUR 1.5B

Revenue (TTM)

EUR 2.0B

Explainers

How we read these numbers

Plain-English guides · no account needed

II · Recent news

What moved

1 story · ranked by relevance

  • Company2026-10-17

    Orange Belgium (ENXTBR:OBEL) Stock Looks Fully Priced After Its 59% Run - Yahoo Finance

    Yahoo Finance

Premium · Free with any account

Net debt stands at 3.3 times EBITDA, a level that limits room for investment, dividends, or tolerance of revenue setbacks [Sentinellis calculation].

1 of 5 risks in this report

Risks

5

Opportunities

4

Red flags

3

Leadership

7

11 more findings in the full report — free with any account.

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III · Related

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Produced 27 Oct 2026, 10:43 UTC

Figures come from company filings and market data. The Sentinellis health score and the wording attached to it are our interpretation of those figures, not numbers the company reported.

Not investment advice and not a recommendation to buy or sell. Sentinellis holds no positions in the companies it covers, takes no payment from issuers, and has no broker referral arrangements.

How every figure and score is calculated