Worley stock gets a buyback update as FY26 backlog rises

Worley (ISIN AU000000WOR2) was trading at AUD 9.45 on the ASX on October 8, 2026, at 12:22 p.m. AEDT, down AUD 0.09 or 0.94 percent from AUD 9.54. The company also issued an on-market buyback update dated October 7, 2026, according to Intelligent Investor.

Buyback activity adds a capital signal

The latest ASX announcement came alongside a share quotation application and a director interest notice, placing the buyback within a broader capital-management sequence. The Globe and Mail reported that Worley cancelled 3,147,751 ordinary shares following an on-market buyback executed on September 23, 2026.

For shareholders, the relevance is mechanical: cancelled shares reduce the issued share base, while the market still values Worley at AUD 4.8 billion as of October 8, 2026. The capital action therefore sits beside, rather than replaces, the operating recovery investors are watching.

FY26 backlog reached AUD 13.8 billion

Worley's FY26 results showed aggregated revenue of AUD 12.023 billion and underlying EBITA of AUD 734 million for the year ended June 30, 2026, according to Kapitales on September 16, 2026.

The same report placed backlog at AUD 13.8 billion, up from AUD 12.7 billion in FY25. That AUD 1.1 billion increase contrasts with the lower earnings profile and makes project conversion a central operating test for FY27.

Consensus remains above the ASX quote

MarketScreener listed an Outperform consensus from 10 analysts, with an average price target of AUD 11.67 on September 9, 2026. The same consensus included a high target of AUD 14.50 and a low target of AUD 9.50.

Analyst revisions have become more cautious: Simply Wall St reported on September 17, 2026, that the target was reduced to AUD 14.50 from AUD 16.37. The gap between backlog growth and weaker FY26 profitability remains the key tension in that assessment.

Worley stock holds near its yearly low

Worley stock was trading at AUD 9.45 on the ASX on October 8, 2026, with an intraday range of AUD 9.38 to AUD 9.50 and a 52-week range of AUD 9.38 to AUD 14.62. The reference price is 35.36 percent below the 52-week high.

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