Orange S.A. (EPA:ORA)
France · Delayed Price · Currency is EUR 16.41
+0.12 (0.74%)
Aug 14, 2026, 5:37 PM CET
Orange Cash Flow Statement
Financials in millions EUR. Fiscal year is January - December.
Millions EUR. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 4,142 | 538 | 2,350 | 2,440 | 2,146 | 233 |
Depreciation & Amortization | 7,630 | 7,186 | 6,574 | 6,606 | 6,236 | 8,639 |
Other Amortization | 1,363 | 1,363 | 1,349 | 1,317 | 1,305 | - |
Loss (Gain) From Sale of Assets | -5,093 | -245 | 1 | -135 | -181 | -80 |
Asset Writedown & Restructuring Costs | 546 | 546 | 52 | 483 | 999 | 4,073 |
Loss (Gain) From Sale of Investments | 2,369 | -8 | 366 | 1 | -74 | -2,455 |
Loss (Gain) on Equity Investments | 317 | 202 | 348 | 29 | 2 | -3 |
Stock-Based Compensation | 20 | 18 | 18 | 16 | 14 | 179 |
Provision & Write-off of Bad Debts | -274 | -274 | -218 | -210 | -128 | -71 |
Other Operating Activities | 690 | 1,980 | 497 | 476 | 600 | 899 |
Change in Accounts Receivable | 203 | 280 | -368 | 338 | -315 | 204 |
Change in Inventory | -4 | 35 | 200 | -84 | -108 | -126 |
Change in Accounts Payable | 88 | 60 | 152 | -100 | 297 | 36 |
Change in Other Net Operating Assets | 348 | -901 | -1,296 | -163 | -666 | -292 |
Operating Cash Flow | 12,345 | 10,780 | 10,195 | 12,054 | 11,235 | 11,236 |
Operating Cash Flow Growth | 21.16% | 5.74% | -15.42% | 7.29% | -0.01% | -11.51% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -7,312 | -7,322 | -6,710 | -7,829 | -8,777 | -8,749 |
Sale of Property, Plant & Equipment | 704 | 485 | 270 | 316 | 324 | 217 |
Cash Acquisitions | - | - | - | -1,373 | - | -211 |
Divestitures | -5 | 11 | 4,356 | - | - | 890 |
Investment in Securities | 1,057 | 135 | -892 | 1,995 | -2,166 | 952 |
Other Investing Activities | -4,633 | 249 | 1,516 | -117 | 171 | 925 |
Investing Cash Flow | -10,189 | -6,442 | -1,460 | -7,008 | -10,448 | -5,976 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | - | - | 56 | - | 1,143 |
Long-Term Debt Issued | - | 7,783 | 1,243 | 1,442 | 1,809 | 2,523 |
Total Debt Issued | 13,630 | 7,783 | 1,243 | 1,498 | 1,809 | 3,666 |
Short-Term Debt Repaid | - | -115 | -566 | - | -400 | - |
Long-Term Debt Repaid | - | -4,910 | -3,936 | -4,252 | -2,607 | -6,197 |
Total Debt Repaid | -10,832 | -5,025 | -4,502 | -4,252 | -3,007 | -6,197 |
Net Debt Issued (Repaid) | 2,798 | 2,758 | -3,259 | -2,754 | -1,198 | -2,531 |
Issuance of Common Stock | - | - | - | 177 | 14 | - |
Repurchase of Common Stock | -520 | -487 | -12 | -15 | -451 | -510 |
Common Dividends Paid | -2,169 | -2,163 | -2,090 | -2,039 | -2,074 | -2,365 |
Other Financing Activities | -480 | -983 | -365 | -834 | 366 | 572 |
Financing Cash Flow | -371 | -875 | -5,726 | -5,465 | -3,343 | -4,834 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | - | - | - | 32 | -61 | 50 |
Miscellaneous Cash Flow Adjustments | -19 | -62 | 139 | 1 | - | - |
Net Cash Flow | 1,766 | 3,401 | 3,148 | -386 | -2,617 | 476 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 5,033 | 3,458 | 3,485 | 4,225 | 2,458 | 2,487 |
Free Cash Flow Growth | 59.73% | -0.78% | -17.52% | 71.89% | -1.17% | -40.09% |
Free Cash Flow Margin | 12.13% | 8.56% | 8.66% | 10.65% | 6.28% | 5.85% |
Free Cash Flow Per Share | 1.68 | 1.30 | 1.31 | 1.59 | 0.92 | 0.94 |
Levered Free Cash Flow | 6,392 | 2,350 | 1,395 | 2,977 | 1,404 | 1,877 |
Unlevered Free Cash Flow | 7,447 | 3,239 | 2,313 | 3,841 | 2,122 | 2,589 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 1,147 | 1,021 | 1,026 | 1,035 | 963 | - |
Cash Income Tax Paid | 1,084 | 1,138 | 988 | 1,129 | 1,033 | 954 |
Change in Working Capital | 635 | -526 | -1,312 | -9 | -792 | -178 |