The Williams Companies, Inc. logo

The Williams Companies, Inc.

WMB

NYSEEnergyOil & Gas Midstream

Regular session

$70.015

−$0.475 · -0.67%

Aug 24, 10:10 AM ET

WMB company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

66

Undervalued

Momentum

52

Neutral

Sentiment

72

Bullish

Risk resilience

83

Low Risk

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Company profile

Company website

The Williams Companies, Inc., alongside its subsidiaries, operates as a prominent energy infrastructure entity, primarily conducting business throughout the United States. The company’s operations are organized into four key segments: Transmission & Gulf of Mexico, Northeast G&P, West, and Gas & NGL Marketing Services. The Transmission & Gulf of Mexico division manages crucial natural gas pipelines such as Transco and Northwest, in addition to natural gas gathering and processing, and crude oil production handling and transportation assets situated in the Gulf Coast. This segment also oversees various petrochemical and feedstock pipelines. Focusing on midstream activities, the Northeast G&P segment handles gathering, processing, and fractionation within the Marcellus Shale region, predominantly in Pennsylvania and New York, and the Utica Shale region of eastern Ohio. The West segment delivers gas gathering, processing, and treating services across the Rocky Mountain areas of Colorado and Wyoming, the Barnett Shale in north-central Texas, the Eagle Ford Shale in South Texas, the Haynesville Shale in northwest Louisiana, and the expansive Mid-Continent region (including the Anadarko, Arkoma, and Permian basins). This segment also operates natural gas liquid (NGL) fractionation and storage facilities located near Conway in central Kansas. The Gas & NGL Marketing Services segment provides comprehensive wholesale marketing, trading, storage, and transportation of natural gas to utilities, municipalities, power generators, and producers, while also offering risk and asset management and NGL marketing services. The company possesses and operates an extensive network, including 30,000 miles of pipelines, 29 processing facilities, 7 fractionation facilities, and an approximate NGL storage capacity of 23 million barrels. The Williams Companies, Inc. was established in 1908 and maintains its headquarters in Tulsa, Oklahoma.

Industry
Oil & Gas Midstream
Sector
Energy
Headquarters
US
CEO
Chad J. Zamarin
Listed since
Dec 31, 1981
Employees
5,987

Market position

Day range

Current $70.015

52-week range

Current $70.015

Open
$70.38
Previous close
$70.49
Volume
405.51K
0.06× average
Average volume
6.74M
Average daily volume
Market cap
85.64B USD
Beta
0.62
Market reference 1
50-day average
$73.3154
-4.50% below average
200-day average
$69.4261
+0.85% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
102.72B USD
P/E (TTM)
27.78×
P/B (TTM)
6.5×
P/S (TTM)
7.02×
EV / EBITDA
13.86×
Earnings yield
3.57%
Free cash flow yield
1.37%
Dividend yield
2.93%

Profitability & efficiency

Gross margin
73.59%
Operating margin
40.31%
Net margin
25.18%
Return on equity
20.44%
Return on assets
4.47%
Return on invested capital
6.16%

Financial health

Debt / equity
2.33×
Current ratio
0.53×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends67%48%29%9%Gross margin, FY2021: 44.73%Gross margin, FY2022: 50.15%Gross margin, FY2023: 62.35%Gross margin, FY2024: 58.71%Gross margin, FY2025: 42.86%Operating margin, FY2021: 24.76%Operating margin, FY2022: 27.52%Operating margin, FY2023: 39.53%Operating margin, FY2024: 31.79%Operating margin, FY2025: 36.83%Net margin, FY2021: 14.27%Net margin, FY2022: 18.69%Net margin, FY2023: 29.15%Net margin, FY2024: 21.18%Net margin, FY2025: 21.91%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 44.73%. Gross margin FY2022 50.15%. Gross margin FY2023 62.35%. Gross margin FY2024 58.71%. Gross margin FY2025 42.86%. Operating margin FY2021 24.76%. Operating margin FY2022 27.52%. Operating margin FY2023 39.53%. Operating margin FY2024 31.79%. Operating margin FY2025 36.83%. Net margin FY2021 14.27%. Net margin FY2022 18.69%. Net margin FY2023 29.15%. Net margin FY2024 21.18%. Net margin FY2025 21.91%.

Income trends

Revenue

11.95B USD+13.78%

Operating income

4.4B USD+31.81%

Net income

2.62B USD+17.66%
Income trends across reported periods12.99B USD8.82B USD4.65B USD473.7M USDRevenue, FY2021: 10.63B USDRevenue, FY2022: 10.97B USDRevenue, FY2023: 10.91B USDRevenue, FY2024: 10.5B USDRevenue, FY2025: 11.95B USDOperating income, FY2021: 2.63B USDOperating income, FY2022: 3.02B USDOperating income, FY2023: 4.31B USDOperating income, FY2024: 3.34B USDOperating income, FY2025: 4.4B USDNet income, FY2021: 1.52B USDNet income, FY2022: 2.05B USDNet income, FY2023: 3.18B USDNet income, FY2024: 2.23B USDNet income, FY2025: 2.62B USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 10.63B USD. Revenue FY2022 10.97B USD. Revenue FY2023 10.91B USD. Revenue FY2024 10.5B USD. Revenue FY2025 11.95B USD. Operating income FY2021 2.63B USD. Operating income FY2022 3.02B USD. Operating income FY2023 4.31B USD. Operating income FY2024 3.34B USD. Operating income FY2025 4.4B USD. Net income FY2021 1.52B USD. Net income FY2022 2.05B USD. Net income FY2023 3.18B USD. Net income FY2024 2.23B USD. Net income FY2025 2.62B USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue11.95B USD10.5B USD10.91B USD10.97B USD10.63B USD
Cost of goods sold6.83B USD4.34B USD4.11B USD5.47B USD5.87B USD
Gross profit5.12B USD6.17B USD6.8B USD5.5B USD4.75B USD
Selling, general, and administrative721M USD708M USD665M USD636M USD558M USD
Operating expenses721M USD2.83B USD2.49B USD2.48B USD2.12B USD
Interest income42M USD67M USD79M USD15M USD7M USD
Interest expense1.44B USD1.36B USD1.24B USD1.15B USD1.18B USD
Depreciation and amortization2.35B USD2.22B USD2.07B USD2.01B USD1.84B USD
Operating income4.4B USD3.34B USD4.31B USD3.02B USD2.63B USD
Net income2.62B USD2.23B USD3.18B USD2.05B USD1.52B USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
55%
6 beats, 4 misses, 1 met estimate
Average EPS surprise
+4.70%
11 comparable reports
Latest EPS result
0.5
Estimate 0.5 · Miss by 0.40%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.770.650.540.42Q1 '25MetQ2 '25BeatQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 12, 2025: actual 0.47, estimate 0.47, surprise 0.00%, Met estimate. Q2 2025, reported May 5, 2025: actual 0.6, estimate 0.567, surprise +5.82%, Beat. Q3 2025, reported Aug 4, 2025: actual 0.46, estimate 0.48, surprise -4.25%, Miss. Q4 2025, reported Nov 3, 2025: actual 0.49, estimate 0.516, surprise -5.04%, Miss. Q1 2026, reported Feb 10, 2026: actual 0.55, estimate 0.573, surprise -4.01%, Miss. Q2 2026, reported May 4, 2026: actual 0.73, estimate 0.634, surprise +15.14%, Beat. Q3 2026, reported Aug 3, 2026: actual 0.5, estimate 0.502, surprise -0.40%, Miss. Q4 2026, reported Nov 2, 2026: actual —, estimate 0.57, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates3.41B3.12B2.84B2.55BQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 12, 2025: actual 2.74B USD, estimate 2.68B USD, surprise +2.27%, Beat. Q2 2025, reported May 5, 2025: actual 3.05B USD, estimate 2.94B USD, surprise +3.60%, Beat. Q3 2025, reported Aug 4, 2025: actual 2.77B USD, estimate 2.73B USD, surprise +1.55%, Beat. Q4 2025, reported Nov 3, 2025: actual 2.92B USD, estimate 2.88B USD, surprise +1.44%, Beat. Q1 2026, reported Feb 10, 2026: actual 3.2B USD, estimate 3.02B USD, surprise +5.95%, Beat. Q2 2026, reported May 4, 2026: actual 3.03B USD, estimate 3.28B USD, surprise -7.62%, Miss. Q3 2026, reported Aug 3, 2026: actual 3.05B USD, estimate 2.83B USD, surprise +7.94%, Beat. Q4 2026, reported Nov 2, 2026: actual —, estimate 3.01B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$85.82

22.57% upside
Past 12 months12-month forecastHigh $103Average $85.82Low $75.00

WMB peers

ETFs holding WMB

Funds reporting this stock among their holdings, ordered by reported position size.

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