Orange S.A. (ORA) — Financial Flexibility Index

Latest as of December 2025: 0.12x

Orange S.A. (ORA) has a Financial Flexibility Index of 0.12x as of December 2025. Free cash flow of €9.85 Billion (operating CF €6.07 Billion minus capex €3.78 Billion) represents 0% of total liabilities (€82.15 Billion). Check ORA strategic asset allocation to assess the company's strategic physical and investment asset allocation.

Financial Flexibility Index

0.12x
Free Cash Flow / Total Liabilities

Free Cash Flow

€9.85 Billion
Operating CF − Capex

Total Liabilities

€82.15 Billion
EUR

Capital Expenditures

€3.78 Billion
EUR

Orange S.A. Financial Flexibility Index (1997–2025)

Historical Financial Flexibility Index trend for Orange S.A. across 29 annual periods. See ORA working capital efficiency to evaluate short-term liquidity relative to the company's equity base.

Annual Financial Flexibility Index for Orange S.A. (1997–2025)

Year-by-year free cash flow to debt coverage for Orange S.A.. For the full company profile including market capitalisation, see Orange S.A. stock valuation.

Year Flexibility Index Free Cash Flow (EUR) Operating CF Total Liabilities YoY Change
2025 0.22x €18.10 Billion €10.78 Billion €82.15 Billion ▼ -10.4%
2024 0.25x €16.91 Billion €10.20 Billion €68.71 Billion ▼ -7.3%
2023 0.27x €19.88 Billion €12.05 Billion €74.95 Billion ▲ +10.2%
2022 0.24x €20.01 Billion €11.23 Billion €83.17 Billion ▼ -1.9%
2021 0.25x €19.98 Billion €11.24 Billion €81.46 Billion ▼ -8.2%
2020 0.27x €21.24 Billion €12.70 Billion €79.52 Billion ▲ +17.0%
2019 0.23x €18.61 Billion €10.19 Billion €81.50 Billion ▼ -15.6%
2018 0.27x €17.15 Billion €9.51 Billion €63.34 Billion ▼ -5.4%
2017 0.29x €17.70 Billion €10.17 Billion €61.84 Billion ▲ +2.2%
2016 0.28x €17.24 Billion €8.75 Billion €61.57 Billion ▼ -5.8%
2015 0.30x €17.30 Billion €9.53 Billion €58.16 Billion ▲ +29.6%
2014 0.23x €13.01 Billion €8.80 Billion €56.70 Billion ▲ +19.4%
2013 0.19x €11.43 Billion €7.26 Billion €59.50 Billion ▼ -14.6%
2012 0.22x €14.31 Billion €10.02 Billion €63.60 Billion ▼ -23.6%
2011 0.29x €19.59 Billion €12.88 Billion €66.49 Billion ▲ +0.0%
2010 0.29x €18.48 Billion €12.59 Billion €62.73 Billion ▼ -13.1%
2009 0.34x €21.45 Billion €15.32 Billion €63.30 Billion ▼ -2.2%
2008 0.35x €22.27 Billion €15.03 Billion €64.25 Billion ▲ +6.7%
2007 0.32x €21.74 Billion €14.67 Billion €66.96 Billion ▲ +11.1%
2006 0.29x €20.90 Billion €13.86 Billion €71.53 Billion ▲ +21.1%
2005 0.24x €19.50 Billion €13.36 Billion €80.85 Billion ▲ +2.4%
2004 0.24x €18.02 Billion €12.81 Billion €76.54 Billion ▲ +17.3%
2003 0.20x €16.40 Billion €11.30 Billion €81.70 Billion ▲ +8.3%
2002 0.19x €19.77 Billion €11.83 Billion €106.67 Billion ▲ +16.4%
2001 0.16x €15.66 Billion €7.09 Billion €98.34 Billion ▼ -28.2%
2000 0.22x €20.98 Billion €6.63 Billion €94.65 Billion ▼ -42.9%
1999 0.39x €13.12 Billion €8.11 Billion €33.81 Billion ▼ -6.6%
1998 0.42x €11.80 Billion €7.14 Billion €28.42 Billion ▲ +8.6%
1997 0.38x €10.70 Billion €6.18 Billion €27.98 Billion —
Financial Flexibility Index = (Operating CF − Capex) / Total Liabilities = Free Cash Flow / Total Liabilities