Worley (ASX:WOR) Operating Income: A$562 Mil (TTM As of Dec. 2025)


ASX:WOR Worley Ltd ASX:WOR
86 GF Score
Price A$10.80
GF Value A$15.61
Valuation Significantly Undervalued
! 5 Warning Signs
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What is Worley Operating Income?

Worley ASX:WOR +0.19% 86 Operating Income is A$562 Mil as of Dec. 2025. GuruFocus rates ASX:WOR with a GF Score™ of 86/100 and a GF Value™ of A$15.61 (Significantly Undervalued). The stock has 5 warning signs investors should review.

Worley's Operating Income for the six months ended in Dec. 2025 was A$185 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was A$562 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Worley's Operating Income for the six months ended in Dec. 2025 was A$185 Mil. Worley's Revenue for the six months ended in Dec. 2025 was A$5,509 Mil. Therefore, Worley's Operating Margin % for the quarter that ended in Dec. 2025 was 3.36%.

Good Sign:

Worley Ltd operating margin is expanding. Margin expansion is usually a good sign.

Worley's 5-Year average Growth Rate for Operating Margin % was 3.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Worley's annualized ROC % for the quarter that ended in Dec. 2025 was 2.52%. Worley's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 80.68%.

Worley  (ASX:WOR) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Worley's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=370 * ( 1 - 35.5% )/( (10119 + 8787)/ 2 )
=238.65/9453
=2.52 %

where

Invested Capital(Q: Jun. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=11019 - 779 - ( 962 - max(0, 3564 - 3685+962))
=10119

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=10851 - 1989 - ( 852 - max(0, 3642 - 3717+852))
=8787

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Worley's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=520/( ( (664 + max(-919, 0)) + (625 + max(-758, 0)) )/ 2 )
=520/( ( 664 + 625 )/ 2 )
=520/644.5
=80.68 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1413 + 55 + 159) - (779 + 0 + 1767)
=-919

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1565 + 52 + 265) - (1989 + 0 + 651)
=-758

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Worley's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=185/5509
=3.36 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Worley Operating Income Related Terms

Worley Operating Income Historical Data

* Premium members only.

The historical data trend for Worley's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Worley Operating Income Chart

Worley Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 415.00 435.00 521.00 609.00 647.00

Worley Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 270.00 339.00 270.00 377.00 185.00
ASX:WOR
86GF Score
Worley Ltd ASX:WOR
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Worley Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$562 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of A$562 Mil mean?
Worley (ASX:WOR) has a Operating Income of A$562 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Worley and its competitors.
Is Worley's Operating Income too high?
Worley's current Operating Income is A$562 Mil. Overall, Worley has a GF Score™ of 86/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Worley's Operating Income compare to SLB and BKR?
Worley's Operating Income of A$562 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for an Oil & Gas company?
A good Operating Income depends on the Oil & Gas industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Worley and its competitors. Worley's current Operating Income is A$562 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Worley stock overvalued right now?
Based on GuruFocus' analysis, Worley (ASX:WOR) is currently considered Significantly Undervalued. The stock's GF Value™ is A$15.61, compared to a current price of A$10.80 — trading 30.8% below its estimated fair value. The current Operating Income is A$562 Mil. Worley's overall GF Score™ is 86/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Worley (ASX:WOR), the current Operating Income is A$562 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Worley (ASX:WOR) Overvalued in 2026?

Based on GuruFocus' analysis, Worley stock appears to be undervalued. The current stock price of A$10.80 is trading 30.8% below its estimated GF Value™ of A$15.61. GuruFocus considers Worley to be Significantly Undervalued.

Key valuation signals for ASX:WOR:

  • Operating Income: A$562 Mil
  • GF Value™: A$15.61 vs. price of A$10.80 (30.8% below fair value)
  • GF Score™: 86/100 with 5 warning signs

No single metric tells the full story. See the ASX:WOR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Worley Business Description

Industry EnergyOil & Gas
Address 420 George Street, Level 19, North Sydney, Sydney, NSW, AUS, 2000
Worley is a leading global provider of professional services, such as engineering, procurement, and construction management, to the oil, gas, mining, power, and infrastructure sectors. Purchase of Jacobs ECR in April 2019 reduced revenue contribution from hydrocarbons to just over 50%, from a prior 75%-80% position. Metals and mining contributes 23% and infrastructure and chemicals the balance. Worley has a global presence with about 59,000 staff in more than 50 countries. It has a strong presence in many developing economies, including Africa.
86GF Score

Get the complete analysis for ASX:WOR

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

A$10.80
Price
A$15.61
GF Value