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Global engineering and project delivery company serving energy, chemicals and increasingly low-carbon/renewable projects.
Global engineering and project delivery company serving energy, chemicals and increasingly low-carbon/renewable projects.
Bills clients for engineering and project-management work, largely on cost-plus or reimbursable terms, so revenue follows hours worked and the volume of client projects, with limited exposure to fixed-price cost overruns. Its scale grew with the 2019 purchase of Jacobs' energy, chemicals and resources business.
In one line: Australia's global EPC firm, like a smaller Fluor/Jacobs.
Moat: narrow (switching costs, process know-how). Deep engineering expertise and long project relationships with global energy majors.
Headquarters: Sydney, Australia · Founded: 1971 · Employees: 40,400
Size Worley (WOR.AX) is an Australia Industrials company (Engineering & Construction) with a market value of $3.39B, the 90th largest of 316 Australia companies the cockpit tracks. Shares closed at A$10.10 on 6 Nov 2026.
Performance Over six months the shares fell 15.6%, against -13.8% for the median peer and +4.1% for the Australia market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 4.8% over the last twelve months (peer median +6.7%); the operating margin is 3.9% (peer median 7.7%).
Valuation It trades at 12.6× forward earnings against a peer median of 14.3× (9th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +3 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 2.0 points below its cost of capital (6.5% WACC).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$10.7B | A$10.7B | A$11.2B | A$11.8B | A$11.3B |
| Revenue growth | — | -5% | -5% | +4% | — |
| Gross profit | A$593M | A$593M | A$928M | A$902M | A$722M |
| EBITDA | A$692M | A$715M | A$954M | A$866M | A$814M |
| Net income | A$238M | A$238M | A$409M | A$303M | A$37.0M |
| Free cash flow | A$338M | A$338M | A$665M | A$587M | A$178M |
| Capital expenditure | A$63.0M | A$63.0M | A$76.0M | A$95.0M | A$82.0M |
| Total debt | n/a | A$2.85B | A$2.45B | A$2.07B | A$2.25B |
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 |
|---|---|---|---|---|---|---|
| Worley WOR.AX | $3.39B | -16% | -5% | 4% | 12.6× | 5.2% |
| Fluor FLR | $6.22B | +7% | -5% | -2% | 14.2× | n/a |
| Jacobs Solutions J | $17.4B | +26% | +20% | 5% | 18.6× | 15.8% |
| KBR KBR | $4.69B | +14% | -3% | 9% | 9.5× | -8.7% |
| Technip Energies TE.PA | $6.83B | -8% | +2% | 4% | 18.9× | -6.5% |
| Jgc 1963.T | $2.94B | -18% | -15% | 6% | 10.0× | n/a |
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 | WOR.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.5% | -7.1% | 4th highest of 21 |
| 6-month return | -15.6% | -13.8% | 9th lowest of 21 |
| Distance from 52-week high | -29.1% | -29.2% | 11th highest of 21 |
| Revenue growth (TTM) | -4.8% | +6.7% | 3rd lowest of 21 |
| Operating margin | 3.9% | 7.7% | 7th lowest of 21 |
| Forward P/E | 12.6× | 14.3× | 9th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 5.2% | 2.8% | 7th most demanding of 18 |
| Growth delivered (Del g) | +2.3% | +11.9% | 5th lowest of 18 |
| Hurdle (Req g minus delivered) | +2.8 pp | -6.0 pp | 3rd most demanding of 18 |
| ROIC minus cost of capital | -2.0 pp | +2.5 pp | 5th lowest of 17 |
| EV / EBITDA | 9.6× | 8.5× | 6th most expensive of 13 |
| Net debt / EBITDA | 2.5× | 0.0× | 5th most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Worley WOR.AX | Australia | $3.39B | -16% | -5% | 4% | 12.6× | 5.2% | +2.3% |
| Alten ATE.PA | France | $3.43B | +43% | 0% | 8% | 11.4× | 3.5% | +11.9% |
| Primoris Services PRIM | United States | $3.52B | -38% | -5% | 3% | 13.7× | 22.8% | +16.8% |
| Comsys 1721.T | Japan | $3.55B | -15% | +4% | 8% | 13.3× | -0.7% | +2.3% |
| Ventia Services VNT.AX | Australia | $3.24B | -2% | -1% | 7% | 16.1× | -1.4% | +13.7% |
| Sacyr SCYR.MC | Spain | $3.58B | -14% | +6% | 24% | 20.5× | -5.4% | +0.5% |
| Downer EDI DOW.AX | Australia | $3.21B | -6% | -7% | 4% | 15.8× | 11.1% | -3.4% |
| China Communications Services 0552.HK | Hong Kong | $3.19B | -19% | 0% | 2% | 5.7× | n/a | n/a |
| Sinoma International Engineering 600970.SS | China | $3.15B | -14% | +3% | 5% | 9.2× | -8.3% | +10.3% |
| Veidekke VEI.OL | Norway | $3.13B | +25% | +8% | 5% | 17.1× | -3.5% | +2.5% |
| China Southern Power Grid Technology 688248.SS | China | $3.71B | -20% | +28% | 12% | 47.6× | 25.8% | +27.0% |
| Kraftia 1959.T | Japan | $3.10B | -29% | +5% | 12% | 10.8× | 2.8% | +4.0% |
| SINOPEC Engineering (Group) 2386.HK | Hong Kong | $3.05B | -13% | +14% | 2% | 9.0× | n/a | n/a |
| L&K Engineering 6139.TW | Taiwan | $3.81B | -23% | +78% | 17% | 6.5× | -9.1% | +41.0% |
| Legence LGN | United States | $3.02B | -72% | +69% | 3% | 12.2× | 29.7% | +69.2% |
| Bravida BRAV.ST | Sweden | $3.00B | +30% | +4% | 6% | 19.0× | 5.3% | +5.9% |
| L&K Engineering (Suzhou) 603929.SS | China | $2.99B | -50% | +43% | 25% | 14.8× | 7.5% | +39.5% |
| Koninklijke BAM Groep BAMNB.AS | Netherlands | $3.85B | +37% | +7% | 3% | 11.5× | -5.2% | +0.8% |
| Guangdong Hongda 002683.SZ | China | $3.86B | -7% | +15% | 10% | 23.7× | 4.9% | +26.1% |
| Argan AGX | United States | $3.89B | -59% | +29% | 15% | 20.5× | 0.3% | +19.2% |
| ACME Solar ACMESOLAR.NS | India | $2.95B | +32% | +54% | 66% | 29.6× | n/a | n/a |