Orange Belgium Valuation
Is 0FBS undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
5/6Valuation Score 5/6
Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast
Share Price vs Fair Value
What is the Fair Price of 0FBS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: 0FBS (€14.8) is trading below our estimate of fair value (€24.43)
Significantly Below Fair Value: 0FBS is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for 0FBS?
Key metric: As 0FBS is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.
| What is 0FBS's PS Ratio? | |
|---|---|
| PS Ratio | 0.5x |
| Sales | €1.99b |
| Market Cap | €999.05m |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 1.6x |
| Enterprise Value/EBITDA | 5.8x |
| PEG Ratio | 12.1x |
Price to Sales Ratio vs Peers
How does 0FBS's PS Ratio compare to its peers?
| Company | Forward PS | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 1.5x | ||
AAF Airtel Africa | 0.9x | 12.0% | UK£3.5b |
VOD Vodafone Group | 0.6x | 0.9% | UK£18.1b |
HTWS Helios Towers | 1.9x | 8.0% | UK£1.1b |
GAMA Gamma Communications | 2.8x | 6.6% | UK£1.5b |
0FBS Orange Belgium | 0.5x | 0.7% | €999.0m |
Price-To-Sales vs Peers: 0FBS is good value based on its Price-To-Sales Ratio (0.5x) compared to the peer average (1.5x).
Price to Sales Ratio vs Industry
How does 0FBS's PS Ratio compare vs other companies in the Global Wireless Telecom Industry?
| 11 Companies | Price / Sales | Estimated Growth | Market Cap |
|---|---|---|---|
| 11 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Sales vs Industry: 0FBS is good value based on its Price-To-Sales Ratio (0.5x) compared to the Global Wireless Telecom industry average (1.3x).
Price to Sales Ratio vs Fair Ratio
What is 0FBS's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PS Ratio | 0.5x |
| Fair PS Ratio | 1x |
Price-To-Sales vs Fair Ratio: 0FBS is good value based on its Price-To-Sales Ratio (0.5x) compared to the estimated Fair Price-To-Sales Ratio (1x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | €14.80 | €17.23 +16.4% | 16.7% | €22.00 | €14.80 | n/a | 8 |
| Nov ’25 | €14.80 | €17.10 +15.5% | 17.5% | €22.00 | €14.00 | n/a | 8 |
| Oct ’25 | €14.85 | €17.10 +15.2% | 17.5% | €22.00 | €14.00 | n/a | 8 |
| Sep ’25 | €14.83 | €17.10 +15.3% | 17.5% | €22.00 | €14.00 | n/a | 8 |
| Aug ’25 | €14.83 | €17.98 +21.2% | 18.2% | €22.00 | €14.00 | n/a | 8 |
| Jul ’25 | €14.87 | €18.98 +27.6% | 26.7% | €30.00 | €14.00 | n/a | 8 |
| Jun ’25 | €14.78 | €18.98 +28.4% | 26.7% | €30.00 | €14.00 | n/a | 8 |
| May ’25 | €14.12 | €18.54 +31.3% | 28.5% | €30.00 | €14.00 | n/a | 7 |
| Apr ’25 | €13.72 | €18.54 +35.2% | 28.2% | €30.00 | €14.80 | n/a | 7 |
| Mar ’25 | €13.10 | €18.98 +44.8% | 26.5% | €30.00 | €14.80 | n/a | 8 |
| Feb ’25 | €13.12 | €19.06 +45.3% | 26.2% | €30.00 | €14.50 | n/a | 8 |
| Jan ’25 | €13.50 | €19.19 +42.1% | 25.8% | €30.00 | €14.50 | n/a | 8 |
| Dec ’24 | €13.48 | €19.28 +43.0% | 24.2% | €30.00 | €14.50 | n/a | 9 |
| Nov ’24 | €13.41 | €19.50 +45.4% | 23.6% | €30.00 | €14.50 | €14.80 | 9 |
| Oct ’24 | €13.74 | €19.97 +45.3% | 21.7% | €30.00 | €14.50 | €14.85 | 9 |
| Sep ’24 | €13.56 | €19.87 +46.5% | 20.7% | €30.00 | €14.50 | €14.83 | 10 |
| Aug ’24 | €13.90 | €20.27 +45.8% | 19.9% | €30.00 | €14.50 | €14.83 | 10 |
| Jul ’24 | €13.84 | €20.57 +48.6% | 17.0% | €30.00 | €16.00 | €14.87 | 11 |
| Jun ’24 | €13.74 | €20.84 +51.7% | 15.5% | €30.00 | €17.75 | €14.78 | 11 |
| May ’24 | €14.72 | €20.84 +41.6% | 15.5% | €30.00 | €17.75 | €14.12 | 11 |
| Apr ’24 | €15.26 | €20.63 +35.2% | 15.4% | €30.00 | €18.00 | €13.72 | 12 |
| Mar ’24 | €16.04 | €20.63 +28.6% | 15.4% | €30.00 | €18.00 | €13.10 | 12 |
| Feb ’24 | €16.70 | €20.70 +24.0% | 15.4% | €30.00 | €17.50 | €13.12 | 12 |
| Jan ’24 | €17.02 | €20.81 +22.3% | 15.0% | €30.00 | €17.50 | €13.50 | 12 |
| Dec ’23 | €16.88 | €21.48 +27.2% | 16.3% | €30.00 | €17.50 | €13.48 | 12 |
| Nov ’23 | €17.12 | €21.48 +25.4% | 16.3% | €30.00 | €17.50 | €13.41 | 12 |
Analyst Forecast: Target price is less than 20% higher than the current share price.
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