Energy, Enterprise & Expansion: 3 ASX 200 Growth Stories Worth Watching

These three ASX 200 shares are showing solid growth in different areas. Their latest results and business plans suggest they could continue growing over the long term.

Origin Energy Limited (ASX: ORG)

Reported its FY26 results on 13 August 2026. Statutory profit rose to $1,574 million from $1,481 million and underlying profit fell to $1,159 million from $1,490M. Underlying EBITDA was $3,220 million, compared with $3,411 million. Adjusted Free Cash Flow increased by $867 million to $2,074 million. Net debt to adjusted underlying EBITDA was 1.6x.

Retail added 243,000 customer accounts, taking the total to 4.94 million. Large-scale batteries reached 1.3 GW/4.1 GWh in operation from the 1.8 GW program. Octopus Energy added 2.2 million accounts, reaching 19 million. Kraken revenue grew 19% and contracted accounts reached 95 million.

For FY27, Energy Markets EBITDA is expected at $1,550–$1,850 million. APLNG production is estimated at 625–670 PJ. Total capital and operating spending is expected at $3.0–$3.3 billion, while Origin’s total capex is expected at $450–$650 million. Octopus and Kraken are expected to keep growing, while battery development moves towards completion.

Technology One Limited (ASX: TNE)

On 19 May 2026, reported H1 FY26 results. PBT was $89.1m, up 9%, while PAT reached $66.8m, up 6%. ARR rose 17% to $598.0m, with NRR at 114%. UK ARR increased 23% to $53.0m. Total revenue was $322.7m, up 11% and SaaS and recurring revenue reached $299.2m, up 13%.

The company had $245.5m in cash and investments, up 16%. Free cash flow was $20.3m, compared with $24.0m in H1 FY25. R&D spending rose 22% to $84.1m, equal to 26% of total income. The interim dividend increased 21% to 8.0 cps.

TechnologyOne reaffirmed FY26 guidance of 18%-20% PBT growth and 16%-18% ARR growth. It is targeting 32% PBT margin and 100% cash conversion. The company remains on track for $1+ billion ARR by FY30 and 35%+ long-term PBT margin.

Wesfarmers Limited (ASX: WES)

On 22 July 2026, announced the final investment decision for the Mt Holland lithium expansion with SQM. The project will double spodumene concentrate capacity from 380,000 to 760,000 tonnes annually, while an ore sorter will add about three million tonnes over the operation. Wesfarmers’ capital share is estimated at $645m-$715m, funded through existing cash and debt facilities. Construction is expected to start in the second half of 2027, with first expansion production in the first half of 2030.

On 10 June 2026, Wesfarmers outlined Bunnings’ growth plans, including 353 stores, 100+ property projects to FY30, marketplace expansion, commercial growth, AI use, retail media and technology investment. The marketplace had c.300k SKUs across 600+ sellers.

The briefing also covered lithium and industrial projects. FY27 spodumene production is expected at c.190kt, while sodium cyanide capacity rises to c.130kt and NAAN capacity to c.865ktpa.

(Source: Company Report)