Worley Limited (WOR.AX) Stock Analysis & Winston Score

Worley is an Australian engineering and professional services company that helps energy, chemicals, and resources companies build and run large industrial projects. Its customers include oil and gas producers, mining companies, and chemical manufacturers who need help designing facilities, managing construction, and keeping plants running safely. Worley is one of the largest engineering services firms in the world focused on the energy sector. Worley makes money by charging fees for engineering, procurement, and project management work — essentially selling the time and expertise of its roughly 50,000 employees. It operates across more than 40 countries, with major activity in Australia, the Americas, the Middle East, and Europe. The company is pushing to grow its "sustainability" work — projects tied to renewables, hydrogen, and decarbonization — to reduce its dependence on traditional fossil fuel spending, but thin margins and the cyclical nature of capital spending by energy companies remain the key risks to its earnings.