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  "documentTitle": "Morgan Stanley | Investment Banking Pitch Book | 30 slides",
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  "authorName": "Morgan Stanley",
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  "presentationDate": "2022-09-01 00:00:00",
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  "notes": "Includes management estimates vs street consensus for Orange, compared against two peer groups.",
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      "text": "CY2023E AV / Revenue",
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      "text": "Source: Capital IQ, Thomson Consensus. Notes: 1. Market data and consensus estimates as of 9/12/2022. 2. Management reflects forecast provided by Management on 8/12/2022. 3. Free cash flow calculated as operating cash flow less capex.",
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      "text": "Orange Estimates; High Growth Software; High Growth Security",
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