Orange (XTER:FTE) Operating Income: €4,834 Mil (TTM As of Jun. 2026)

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XTER:FTE Orange SA XTER:FTE
76 GF Score
Price €15.05
GF Value €12.00
Valuation Modestly Overvalued
! 1 Warning Sign
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What is Orange Operating Income?

Orange XTER:FTE -5.30% 76 Operating Income is €4,834 Mil as of Jun. 2026. GuruFocus rates XTER:FTE with a GF Score™ of 76/100 and a GF Value™ of €12.00 (Modestly Overvalued). The stock has 1 warning sign investors should review.

Orange's Operating Income for the six months ended in Jun. 2026 was €2,098 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was €4,834 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Orange's Operating Income for the six months ended in Jun. 2026 was €2,098 Mil. Orange's Revenue for the six months ended in Jun. 2026 was €20,948 Mil. Therefore, Orange's Operating Margin % for the quarter that ended in Jun. 2026 was 10.02%.

Orange's 5-Year average Growth Rate for Operating Margin % was -0.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Orange's annualized ROC % for the quarter that ended in Jun. 2026 was 3.36%. Orange's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 24.14%.


Orange  (XTER:FTE) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Orange's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=4196 * ( 1 - 10.8% )/( (101274 + 121602)/ 2 )
=3742.832/111438
=3.36 %

where

Note: The Operating Income data used here is two times the semi-annual (Jun. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Orange's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=10184/( ( (39134 + max(-8163, 0)) + (45256 + max(-10508, 0)) )/ 2 )
=10184/( ( 39134 + 45256 )/ 2 )
=10184/42195
=24.14 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(6506 + 743 + 4555) - (6951 + 2590 + 10426)
=-8163

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(7442 + 956 + 6305) - (9532 + 3127 + 12552)
=-10508

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Orange's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=2098/20948
=10.02 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Orange Operating Income Related Terms


Orange Operating Income Historical Data

* Premium members only.

The historical data trend for Orange's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Orange Operating Income Chart

Orange Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3,668.00 5,037.00 4,516.00 5,163.00 3,287.00

Orange Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Jun26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2,180.00 2,983.00 551.00 2,736.00 2,098.00
XTER:FTE
76GF Score
Orange SA XTER:FTE
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Orange Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was €4,834 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of €4,834 Mil mean?
Orange (XTER:FTE) has a Operating Income of €4,834 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Orange and its competitors.
Is Orange's Operating Income too high?
Orange's current Operating Income is €4,834 Mil. Overall, Orange has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Orange's Operating Income compare to VZ and TMUS?
Orange's Operating Income of €4,834 Mil can be compared against companies in the Telecommunication Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Telecommunication Services company?
A good Operating Income depends on the Telecommunication Services industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Orange and its competitors. Orange's current Operating Income is €4,834 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Orange stock overvalued right now?
Based on GuruFocus' analysis, Orange (XTER:FTE) is currently considered Modestly Overvalued. The stock's GF Value™ is €12.00, compared to a current price of €15.05 — trading 25.4% above its estimated fair value. The current Operating Income is €4,834 Mil. Orange's overall GF Score™ is 76/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Orange (XTER:FTE), the current Operating Income is €4,834 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Orange (XTER:FTE) Overvalued in 2026?

Based on GuruFocus' analysis, Orange stock appears to be overvalued. The current stock price of €15.05 is trading 25.4% above its estimated GF Value™ of €12.00. GuruFocus considers Orange to be Modestly Overvalued.

Key valuation signals for XTER:FTE:

  • Operating Income: €4,834 Mil
  • GF Value™: €12.00 vs. price of €15.05 (25.4% above fair value)
  • GF Score™: 76/100 with 1 warning sign

No single metric tells the full story. See the XTER:FTE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Orange Business Description

Address 111, quai du president Roosevelt, Issy-les-Moulineaux, Paris, FRA, 92130
Orange SA is a French telecommunications operator and one of the largest mobile and fixed-line carriers in Europe and Africa. It provides mobile, fixed broadband, television, and enterprise services under the Orange brand, along with banking through Orange Bank and cybersecurity and cloud offerings. Its largest market is France, where it holds a leading position in both fixed and mobile, followed by other European operations including Spain, Poland, Belgium, Luxembourg, Romania, Slovakia, and Moldova. Orange also operates extensively in Africa and the Middle East, where mobile networks and mobile money services are significant growth drivers. The company serves consumers, businesses, and public-sector customers, generating revenue from subscription plans, voice and data usage, wholesale and roaming agreements, equipment sales, and enterprise IT and connectivity contracts. It is listed in Paris and trades in the United States through American Depositary Receipts.
76GF Score

Get the complete analysis for XTER:FTE

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€15.05
Price
€12.00
GF Value