Orange S.A.: Post Tariffs, This Is One Of The Better-Positioned Telcos

2025-04-03 10:17:56 ET

Summary

• Orange S.A. has outperformed the S&P 500 by over 30%, driven by strong FY24 results and a strategic focus on growth markets like Africa.
• The company's FCF increased by €1.4B over two years, with a solid performance in France and a low net debt to EBITDAaL ratio below 1.9x.
• Orange's investments in AI and cyber defense, along with a BBB+ rating and a 6+% yield, position it for continued growth.

Dear readers/followers,

In this article, I'll be providing an update on Orange S.A. ( ORANY ), a telecommunications company that I've invested heavily in for the past 2-3 years at times of undervaluation. The company reported its FY24 results relatively recently - a little over a month ago- and I'll be using those as a basis for updating my thesis.

Overall, I've long held the belief that this company has the potential to outperform. My last article, now over 2.5 months old, was a bullish "Buy," and the company has done superb since then....

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