Worley Ltd (WOR) fair value: what the stock is really worth
As of Oct 26, 2026: fair value (intrinsic value) of Worley Ltd stock A$8.12, price A$9.64, upside -15.8%, quality 57 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value above price?No
Good quality?Yes
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 25, 2026.
How to read this chart
60‑month range A$7.66 – A$15.72 · fair‑value band A$7.90 – A$9.82 · the A$9.64 price screens above the A$8.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 25, 2026.
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Worley Limited provides professional services to the energy, chemicals, and resources sectors in the Americas, Europe, the Middle East, Africa, Australia, the Asia Pacific, and China.
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The company offers project delivery services, such as engineering, procurement and supply chain management, construction and fabrication, and installation and commissioning; asset performance services comprising operations and maintenance, and workflow optimization; and specialist and technology solutions.
It also provides professional and consulting services comprising planning and investment, capital project support, digital solutions, and environment and sustainability consulting, as well as optimize, repurpose, and decommissioning.
The company serves the chemicals and fuels industry comprising plastic recycling solutions, low carbon fuels, and refining, as well as carbon capture, utilization, and storage; conventional energy industry, including midstream energy infrastructure, decommissioning, integrated gas, and water; low carbon energy industry, such as hydrogen, energy storage, nuclear power, power networks, renewable energy, and biogas and renewable natural gas; and resources industry consisting of battery materials, copper and energy transition materials, aluminum, precious metals, bauxite and alumina, iron ore, and mined fertilizers.
The company was formerly known as WorleyParsons Limited and changed its name to Worley Limited in October 2019. Worley Limited was founded in 1971 and is headquartered in Sydney, Australia.
Stock analysis
Worley Ltd (WOR) currently trades at A$9.64, while our model-based Fair Value estimate is A$8.12, 15.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of A$14.83 per share, and 12 of the 24 models we run sit above the A$9.64 price.
Bear case: the Economic Profit group reads lowest at A$5.76, and 12 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: A$7.90 (bear) to A$9.82 (bull), the price of A$9.64 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Energy sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Worley Ltd reported revenue of A$10.7B in FY2026 versus A$9.7B in FY2022, a compound +2.4%/yr. Reported net income was A$238M in FY2026, compounding +8.5%/yr from FY2022.
Key figures
Market cap A$4.8B (≈ $3.4B) Mid · P/E ratio 20.5 · P/S ratio 0.45 · EPS (TTM) A$0.4700 · Dividend yield 5.2% · Net margin 2.2% · Return on equity 4.8% · Return on assets (EBIT) 5.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −38% fair-value upside, at −16%, WOR screens cheaper than that median.
Fair Value models
BearA$7.90Fair Value A$8.12BullA$9.82
Price A$9.64 · Upside -15.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.51/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.3%
Start year 2021 (pandemic). Over 10 years: +3.2% a year
Revenue growth 26 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+33.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+13.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.8%
Dividend (yield on the price)5.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.7.8% vs 15.4%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 4%
Pace: the 5-year rate starts in 2021 (pandemic)
⚠ Revenue per share shrinking 4.9%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+4.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (Australia: IMF forecast 3.0% a year to 2030, 2.9% from 2016 to 2025) that is about +1.6% a year for the price and +3.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (83 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Limited evidence points to a business with strength in NVIDIA partnerships for AI governance and expanding energy transition projects, but weakness in low gross margins within a cyclical oil services sector lacking a clear moat.
Main risk: Execution risks in complex developments such as LNG with CCS projects would hit returns by holding back margin improvements from AI and energy transition initiatives.
Worley is partnering with NVIDIA on its Agent Safety Platform to improve AI governance across its operations. At the same time its FY26 earnings fell after transformation and restructuring costs even as bookings and backlog grew. Will the move into responsible AI and energy transition projects such as LNG with CCS strengthen margins more than traditional services recover, or will execution risks in complex developments hold back returns?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Equipment & Services · 178 stocks
Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−15.8% · Below median
Profitability
Return on equity (12 months)4.8% · Below median
Return on assets2.2% · Below median
Net margin (12 months)2.2% · Below median
Operating margin (12 months)4.4% · Below median
Growth and dividend
Revenue growth (quarter YoY)−7.9% · Bottom 25%
Dividend yield (12 months)5.2% · Top 25%
Balance sheet
Debt / equity0.33× · Above median
Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper
P/E (12 months)20.5× · Pricier than median
P/B0.99× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Worley Ltd Fair Value". https://www.fairvalue-calculator.com/stock/WOR.AU
Frequently asked questions
Is Worley Ltd (WOR) overvalued or undervalued?
As of Oct 25, 2026, our model estimates a fair value of A$8.12 versus a price of A$9.64, about −16% upside (overvalued).
What is the fair value of WOR?
Our model-based fair value for Worley Ltd is A$8.12 (as of Oct 25, 2026), built from audited fundamentals. The current price: A$9.64.
What is the quality score of WOR?
Worley Ltd has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Worley Ltd (WOR)?
Our model-based price target is the fair value of A$8.12 (as of Oct 25, 2026) from 24 valuation models. Cautious scenario A$7.90, optimistic scenario A$9.82. It is a calculation from audited fundamentals, not an analyst target.
What is the Worley Ltd stock forecast for 2026?
Our models put fair value at A$8.12, about −16% upside versus a price of A$9.64 (overvalued). Cautious scenario A$7.90, optimistic scenario A$9.82. The calculation is refreshed regularly with new filings.
What is the revenue of Worley Ltd (WOR)?
Worley Ltd reported trailing-twelve-month revenue of about A$10.7B (latest available figure, as of Oct 25, 2026).
Does Worley Ltd pay a dividend?
Worley Ltd currently shows a dividend yield of 5.19% relative to its recent price (as of Oct 25, 2026).
What growth is priced into Worley Ltd (WOR)?
For today's price to be fair in a discounted-cash-flow model, Worley Ltd would have to grow free cash flow by +4.6 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.4 % per year. As of Oct 25, 2026.
What discount rate (WACC) does the fair value of WOR use?
Our models discount Worley Ltd at 8.3 %: a base by market capitalisation (mid), damped by beta 0.40, country premium for Australia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Worley Ltd that is +4.6 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Worley Ltd (WOR) delivered so far?
Over the past 5 years revenue at Worley Ltd grew +2.4 % a year. The price currently implies +4.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Worley Ltd (WOR) growing?
The median revenue growth in the sector is +13.0 % a year. That is the yardstick for the growth priced into Worley Ltd (+4.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Worley Ltd (WOR)?
The free-cash-flow yield on the price is 7.00 %: that much free cash flow Worley Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Worley Ltd (WOR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Worley Ltd it is A$8.12 per share (as of Oct 25, 2026), against a price of A$9.64. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Worley Ltd stock overvalued or undervalued in 2026?
As of Oct 25, 2026, WOR trades above its calculated fair value: price A$9.64, fair value A$8.12, a gap of about −16% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WOR?
No. The price is what the market pays today (A$9.64); the fair value is what the company's own numbers justify (A$8.12). For Worley Ltd the two are A$1.52 per share apart. That gap is exactly why we show both numbers side by side.
How much is Worley Ltd worth?
The market values Worley Ltd at about A$4.8B (market capitalisation, as of Oct 25, 2026). Per share that is A$9.64; our models calculate a fair value of A$8.12 per share.
What do the bullish and bearish scenarios say about WOR?
Our models span a range for Worley Ltd: cautious scenario A$7.90, base A$8.12, optimistic A$9.82 per share (as of Oct 25, 2026, price A$9.64). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WOR?
Worley Ltd trades at a price-to-earnings ratio of 20.5 (as of Oct 25, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$8.12 is built from several models across several years. Other multiples: PEG 1.0, P/B 1.0, P/S 0.5, EV/EBITDA 9.0.
What is the PEG ratio of WOR?
The PEG ratio of Worley Ltd is 1.04 (P/E divided by earnings growth, as of Oct 25, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Worley Ltd (WOR)?
Balance-sheet figures for Worley Ltd (as of Oct 25, 2026): return on equity 4.8%, debt of 0.33 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is WOR from its 52-week high?
Worley Ltd trades at A$9.64, about 31% below its 52-week high of A$13.87 and 5% above the low of A$9.21 (as of Oct 26, 2026). Distance from the high says nothing about value: that is what the fair value of A$8.12 is for.
Which stocks are comparable to Worley Ltd?
From the same area (Energy) we also value SLB N.V, Baker Hughes Company, Halliburton Company, TechnipFMC plc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Worley Ltd stock attractive at the current price?
The data as of Oct 25, 2026: price A$9.64, calculated fair value A$8.12 (−16%), Quality Score 57/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WOR calculated?
We run Worley Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of A$8.12, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 12.7 % above its aggregate fair value. Worley Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Worley Ltd (WOR)?
The closing price on Oct 26, 2026 was A$9.64. Our model-based fair value is A$8.12, about −16% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Worley Ltd right now?
Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Worley Ltd (WOR) come from?
Earnings per share at Worley Ltd grew +21.8 % a year from 2016 to 2026. Broken into its drivers: revenue per share −2.2 %, EBIT margin +8.7 %, tax rate −1.3 %, residual (interest, one-offs) +16.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Worley Ltd
How large is the market capitalisation of Worley Ltd (WOR)?
The market capitalisation of Worley Ltd is A$4.8B (≈ $3.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Worley Ltd (WOR)?
The price-to-sales ratio of Worley Ltd is 0.45 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Worley Ltd (WOR)?
Earnings per share at Worley Ltd are A$0.4700 (price ÷ EPS = P/E 20.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Worley Ltd (WOR)?
The dividend yield of Worley Ltd is 5.2% (payout 106%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Worley Ltd (WOR)?
The net margin of Worley Ltd is 2.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Worley Ltd (WOR)?
The return on equity (ROE) of Worley Ltd is 4.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Worley Ltd (WOR)?
On an EBIT basis the return on assets of Worley Ltd is 5.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Worley Ltd (WOR)?
The operating margin of Worley Ltd is 4.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Worley Ltd (WOR)?
Revenue at Worley Ltd is growing −7.9% versus a year earlier (3y avg −1.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Worley Ltd (WOR)?
Earnings per share at Worley Ltd are growing −44.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Worley Ltd (WOR) carry?
The net debt of Worley Ltd is A$1.7B (fiscal year 2026, ≈ 5.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Oct 25, 2026