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Australian integrated energy retailer and generator, also holding a large stake in the Australia Pacific LNG export project.
Australian integrated energy retailer and generator, also holding a large stake in the Australia Pacific LNG export project.
Buys or generates electricity and gas and sells them to households and businesses at retail tariffs, with profit set by the gap between wholesale cost and tariff. The APLNG stake supplies cash through its share of earnings, which follow oil-linked long-term LNG contracts, mainly with Asian buyers.
In one line: Australia's NRG Energy, with an LNG export stake.
Moat: narrow (scale, brand, installed base). Large integrated retail customer base plus a stake in a major LNG export project generates diversified cash flow.
Headquarters: Sydney, Australia · Founded: 2000 · Employees: 5,000
Size Origin Energy (ORG.AX) is an Australia Energy company (Oil & Gas Production) with a market value of $14.4B, the 28th largest of 316 Australia companies the cockpit tracks. Shares closed at A$12.12 on 6 Nov 2026.
Performance Over six months the shares gained 4.6%, against -2.8% for the median peer and +4.1% for the Australia market (cap-weighted) — 4th highest of 15 in its peer set.
Growth Revenue fell 9.9% over the last twelve months (peer median +14.2%); the operating margin is 8.1% (peer median 26.6%).
Valuation It trades at 16.2× forward earnings against a peer median of 9.0× (4th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.9 points below its cost of capital (8.1% WACC).
Credit Origin Energy has 3 bonds outstanding ($1.22B), rated NR by the agencies and trading like BBB- at a weighted spread of 130 bp.
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$15.4B | A$15.4B | A$17.1B | A$16.1B | A$16.4B |
| Revenue growth | — | -10% | +6% | -2% | — |
| Gross profit | A$1.86B | A$2.04B | A$2.20B | A$1.98B | A$2.74B |
| EBITDA | A$1.83B | A$1.96B | A$2.03B | A$1.84B | A$3.05B |
| Net income | A$1.57B | A$1.57B | A$1.48B | A$1.40B | A$1.05B |
| Free cash flow | A$1.73B | A$1.73B | -A$347M | A$1.77B | A$679M |
| Capital expenditure | A$969M | A$969M | A$1.47B | A$653M | A$475M |
| Total debt | n/a | A$4.99B | A$4.84B | A$3.38B | A$3.26B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Origin Energy ORG.AX | $14.4B | +5% | -10% | 8% | 16.2× | 10.9% |
| AGL Energy AGL.AX | $4.21B | -3% | -6% | 11% | 10.5× | n/a |
| Woodside Energy WDS.AX | $40.4B | 0% | -10% | 26% | 9.4× | n/a |
| Santos STO.AX | $19.2B | +11% | -8% | 21% | 8.1× | 11.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ORG.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.2% | -2.8% | 3rd highest of 15 |
| 6-month return | +4.6% | -2.8% | 4th highest of 15 |
| Distance from 52-week high | -5.6% | -20.0% | 2nd highest of 15 |
| Revenue growth (TTM) | -9.9% | +14.2% | lowest of 15 |
| Operating margin | 8.1% | 26.6% | 3rd lowest of 15 |
| Forward P/E | 16.2× | 9.0× | 4th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 10.9% | -2.9% | 3rd most demanding of 11 |
| Growth delivered (Del g) | +5.0% | +17.2% | lowest of 11 |
| Hurdle (Req g minus delivered) | +5.9 pp | -17.6 pp | 2nd most demanding of 11 |
| ROIC minus cost of capital | -1.9 pp | +2.0 pp | 5th lowest of 15 |
| EV / EBITDA | 13.5× | 5.8× | most expensive of 15 |
| Net debt / EBITDA | 2.2× | 1.0× | 2nd most indebted of 15 |
| Bond spread | 130 bp | 145 bp | 5th tightest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Origin Energy ORG.AX | Australia | $14.4B | +5% | -10% | 8% | 16.2× | 10.9% | +5.0% |
| Tourmaline Oil TOU.TO | Canada | $17.5B | -3% | +4% | 1% | 11.9× | n/a | n/a |
| Range Resources RRC | United States | $11.4B | +20% | +18% | 33% | 12.1× | -1.7% | +10.9% |
| Antero Resources AR | United States | $11.1B | 0% | +22% | 23% | 7.8× | -4.1% | +15.1% |
| Santos STO.AX | Australia | $19.2B | +11% | -8% | 21% | 8.1× | 11.7% | +9.3% |
| Seplat Energy SEPL.L | United Kingdom | $7.14B | +56% | +25% | 27% | 19.7× | -7.1% | +38.0% |
| Vista Energy SAB de CV Sponsored ADR VIST | United States | $6.91B | -12% | +84% | 40% | 4.6× | -13.4% | +55.3% |
| Magnolia Oil & Gas MGY | United States | $6.34B | -15% | +11% | 38% | 7.4× | 3.4% | +19.4% |
| Harbour Energy HBR.L | United Kingdom | $6.17B | -8% | +17% | 40% | 5.1× | n/a | n/a |
| Murphy Oil MUR | United States | $5.16B | -3% | +8% | 22% | 8.6× | -0.7% | +9.0% |
| Woodside Energy WDS.AX | Australia | $40.4B | 0% | -10% | 26% | 9.4× | n/a | n/a |
| CNX Resources CNX | United States | $4.99B | -2% | +8% | 40% | 9.3× | -5.8% | +14.6% |
| Diamondback Energy FANG | United States | $50.0B | -5% | +21% | 39% | 7.9× | -5.6% | +39.8% |
| Comstock Resources CRK | United States | $3.94B | -5% | +17% | 19% | 43.4× | n/a | n/a |
| Patterson-UTI Energy PTEN | United States | $3.76B | -13% | 0% | 0% | 26.0× | 42.6% | +33.8% |
Origin Energy has 3 bonds outstanding with $1.22B face value. The agencies rate it NR; its bonds trade like BBB-. Weighted yield 5.07%, a spread of 130 bp over government bonds.