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Investment Highlights Market Valuation Price Chart Return vs. Risk About WMB Interactive Breakdown Better Bets vs. WMB Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Williams Companies (WMB)

Market Price (10/31/2025): $57.33 | Market Cap: $70.0 Bil
Sector: Energy | Industry: Oil & Gas Storage & Transportation

Williams Companies (WMB)

Market Price (10/31/2025): $57.33
Market Cap: $70.0 Bil
Sector: Energy
Industry: Oil & Gas Storage & Transportation

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.8%, Dividend Yield is 3.4%		  Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 13x
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 48%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 5.3 Bil		  
2 Low stock price volatility
Vol 12M is 27%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.8%, Dividend Yield is 3.4%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 48%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 5.3 Bil
2 Low stock price volatility
Vol 12M is 27%
3 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 13x

Market Valuation & Key Metrics

WMBS&P 500
REVENUE GROWTHFAIR
Rev LTM ($ Bil)11.2
Rev Chg Q19.0%6.5%
Rev Chg LTM7.4%5.4%
Rev Chg 3Y Avg1.8%5.3%
PROFITABILITYVERY GOOD
Op Inc LTM ($ Bil)3.7
CFO LTM ($ Bil)5.3
Net Inc LTM ($ Bil)2.4
Op Mgn LTM32.7%18.7%
CFO/Rev LTM47.6%20.3%
Net Inc Mgn21.6%12.7%
VALUATIONHIGH
P/S6.23.2
P/CFO13.115.3
P/FCF39.120.3
P/E28.823.6
STABILITYFAIR
Debt/Equity0.410.21
Cash/Assets0.020.07

WMB Stock

   
   
   
   
   
   
   
Factor Drivers of Stock Movement
The -0.3% change in WMB stock from 5/1/2025 to 10/30/2025 was primarily driven by a -8.6% change in the company's P/E Multiple.

501202510302025Change
Stock Price ($)57.8257.62-0.34%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)10503.0011225.006.87%
Net Income Margin (%)21.18%21.64%2.15%
P/E Multiple31.6928.98-8.57%
Shares Outstanding (Mil)1219.671221.65-0.16%
Cumulative Contribution-0.34%

LTM = Last Twelve Months as of date shown
The 13.6% change in WMB stock from 10/30/2024 to 10/30/2025 was primarily driven by a 32.4% change in the company's P/E Multiple.

1030202410302025Change
Stock Price ($)50.7157.6213.62%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)10450.0011225.007.42%
Net Income Margin (%)27.03%21.64%-19.95%
P/E Multiple21.8928.9832.39%
Shares Outstanding (Mil)1219.371221.65-0.19%
Cumulative Contribution13.62%

LTM = Last Twelve Months as of date shown
The 102.0% change in WMB stock from 10/31/2022 to 10/30/2025 was primarily driven by a 66.8% change in the company's P/E Multiple.

1031202210302025Change
Stock Price ($)28.5357.62101.96%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)11292.0011225.00-0.59%
Net Income Margin (%)17.73%21.64%22.05%
P/E Multiple17.3728.9866.82%
Shares Outstanding (Mil)1218.961221.65-0.22%
Cumulative Contribution101.96%

LTM = Last Twelve Months as of date shown

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
WMB Return-8%38%33%12%62%9%234%
Peers Return-15%32%18%6%22%-17%42%
S&P 500 Return16%27%-19%24%23%16%110%

Monthly Win Rates [3]
WMB Win Rate42%67%67%58%75%67% 
Peers Win Rate27%45%40%43%45%42% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
WMB Max Drawdown-60%0%0%-13%-5%-0% 
Peers Max Drawdown-37%-1%-2%-6%-15%-19% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: KMI, LNG, OKE, BANL, TMDE. See WMB Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

Unique KeyEventWMBS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-24.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven33.1%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven541 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-61.5%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven159.9%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven351 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-38.0%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven61.4%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven1166 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-75.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven310.1%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1146 days1480 days

Compare to KMI, LNG, OKE, BANL, TMDE


In The Past

Williams Companies's stock fell -24.9% during the 2022 Inflation Shock from a high on 6/7/2022. A -24.9% loss requires a 33.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Williams Companies (WMB)

Better Bets than Williams Companies (WMB)

 WMBBetter Performance than WMB
MetricValueIndustry (Oil & Gas Storage & Transporta)
Rev Chg LTM7.4%ENB (48.2%), KMI (8.3%), LNG (17.8%), OKE (58.4%), PBA (18.4%)
Rev Chg 3Y Avg1.8%ENB (10.2%), OKE (16.4%), DTM (8.3%), AM (9.0%), FRO (35.9%)
Op Mgn LTM32.7%TRP (43.3%), LNG (37.2%), PBA (37.1%), VG (34.4%), DTM (48.5%)
CFO/Rev LTM47.6%TRP (58.8%), DTM (71.1%), AM (72.8%), VNOM (74.9%), HESM (61.4%)
FCF/Rev LTM16.0%KMI (16.8%), PBA (31.9%), DTM (42.0%), AM (60.7%), FRO (33.7%)
Total Yield6.8%ENB (14.4%), KMI (9.2%), TRP (15.4%), LNG (9.6%), OKE (7.9%)
 WMBBetter Performance than WMB
MetricValueAll Other Sectors
Rev Chg LTM7.4%NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AVGO (28.0%)
Rev Chg 3Y Avg1.8%NVDA (92.0%), AAPL (1.8%), MSFT (13.2%), GOOGL (11.0%), AMZN (11.3%)
Op Mgn LTM32.7%NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), META (43.2%), LLY (43.0%)
CFO/Rev LTM47.6%MSFT (50.0%), META (56.8%), V (60.4%), MA (53.3%), PLTR (50.3%)
FCF/Rev LTM16.0%NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), GOOGL (19.1%), AVGO (41.6%)
Total Yield6.8%JNJ (8.2%), BAC (6.8%), BABA (36.3%), UNH (8.1%), KO (7.2%)
 Best Bets In Energy Sector
 WMBTPL AM MGY INSW CTRA DTM EOG WHD WMB CHRD
What You Pay           
P/E29.046.217.711.010.411.329.610.016.329.019.6
P/EBIT15.237.910.08.18.88.516.37.610.915.28.8
What You Get           
Rev Chg Q19.0%8.8%8.7%9.7%-24.0%54.6%26.6%-11.2%-5.8%19.0%-6.4%
Rev Chg LTM7.4%10.7%8.7%8.8%-22.0%17.1%15.3%-5.4%-0.7%7.4%19.5%
Rev Chg 3Y Avg1.8%7.8%9.0%5.1%37.6%0.7%8.3%-5.1%28.4%1.8%34.0%
FCF/Rev 3Y Avg22.9%47.2%46.6%38.2%33.0%27.6%25.0%24.3%23.1%22.9%22.8%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 5.4%, alpha of -0.1%, and sharpe of 0.25

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Williams Companies Earnings Notes  
2Pay Less, Grow More: KNTK, OKE Beat Williams Companies StockActionable 
3Cheniere Energy vs Williams Companies: Which Is the Stronger Buy Today?Counter-Intuitive Comparisons 
4With Williams Companies Stock Down 10% In A Month, How Confident Are You?Return 
5Williams Companies vs Cheniere Energy: Which Is A Better Investment?Counter-Intuitive Comparisons 
6How Does Williams Companies Stock Stack Up Against Its Peers?Peer Comparison 
7Better Bet Than WMB Stock: Pay Less Than Williams Companies To Get More From OKE, BKR   
8Better Bet Than WMB Stock: Pay Less Than Williams Companies To Get More From OKE   
9WMB Dip Buy Analysis  
10WMB YTD Stock Return Of 13% Outperforms OKE by 30% and Underperforms LNG by -0.7%Return 
11ARTICLES  
12OKE Tops Williams Companies Stock on Price & Potential October 24th, 2025
13Cheniere Energy vs Williams Companies: Which Is the Stronger Buy Today? October 24th, 2025
14S&P 500 Stocks Trading At 52-Week High October 4th, 2025
Title
0DASHBOARDS
1OKE Tops Williams Companies Stock on Price & Potential
2Cheniere Energy vs Williams Companies: Which Is the Stronger Buy Today?
3S&P 500 Stocks Trading At 52-Week High
4ARTICLES
5Williams Companies Earnings Notes
6Pay Less, Grow More: KNTK, OKE Beat Williams Companies Stock
7Cheniere Energy vs Williams Companies: Which Is the Stronger Buy Today?
8With Williams Companies Stock Down 10% In A Month, How Confident Are You?
9Williams Companies vs Cheniere Energy: Which Is A Better Investment?
10How Does Williams Companies Stock Stack Up Against Its Peers?
11Better Bet Than WMB Stock: Pay Less Than Williams Companies To Get More From OKE, BKR 
12Better Bet Than WMB Stock: Pay Less Than Williams Companies To Get More From OKE 
13WMB Dip Buy Analysis
14WMB YTD Stock Return Of 13% Outperforms OKE by 30% and Underperforms LNG by -0.7%

Trade Ideas

Select past ideas related to WMB. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TDW_9302025_Dip_Buyer_FCFYield09302025TDWTidewaterDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-5.4%-5.4%-11.3%
OKE_9302025_Dip_Buyer_ValueBuy09302025OKEONEOKDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-8.6%-8.6%-8.6%
LEU_8312025_Quality_Momentum_RoomToRun_10%08312025LEUCentrus EnergyQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		90.0%90.0%-1.3%
KNTK_5312025_Dip_Buyer_ValueBuy05312025KNTKKinetikDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-14.1%-14.1%-18.1%
WHD_4302025_Dip_Buyer_FCFYield04302025WHDCactusDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		12.1%14.5%-11.4%
WMB_6302022_Quality_Momentum_RoomToRun_10%06302022WMBWilliams CompaniesQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		8.4%10.4%-7.8%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TDW_9302025_Dip_Buyer_FCFYield09302025TDWTidewaterDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-5.4%-5.4%-11.3%
OKE_9302025_Dip_Buyer_ValueBuy09302025OKEONEOKDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-8.6%-8.6%-8.6%
LEU_8312025_Quality_Momentum_RoomToRun_10%08312025LEUCentrus EnergyQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		90.0%90.0%-1.3%
KNTK_5312025_Dip_Buyer_ValueBuy05312025KNTKKinetikDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-14.1%-14.1%-18.1%
WHD_4302025_Dip_Buyer_FCFYield04302025WHDCactusDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		12.1%14.5%-11.4%
WMB_6302022_Quality_Momentum_RoomToRun_10%06302022WMBWilliams CompaniesQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		8.4%10.4%-7.8%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PRAXPraxis Precision Medicines279.1%161.2%
2INBXInhibrx Biosciences131.0%409.8%
3PUMPProPetro99.6%16.2%
4DYNDyne Therapeutics88.4%-0.0%
5VICRVicor85.4%89.2%
6CELCCelcuity74.6%503.2%
7GLUEMonte Rosa Therapeutics73.5%87.5%
8NVTSNavitas Semiconductor72.1%251.8%
9LUMNLumen Technologies70.3%94.7%
10BALYBallys63.4%4.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical-62.9%5106.3%
2LRNStride-53.8%-35.8%
3FMCFMC-51.0%-66.6%
4FIFiserv-48.3%-68.3%
5NFENew Fortress Energy-43.6%-91.9%
6VGVenture Global-41.7% 
7OGNOrganon-40.2%-55.0%
8VRNSVaronis Systems-39.5%-21.2%
9ITGRInteger-38.5%-52.2%
10LENZLENZ Therapeutics-37.9%5.5%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Williams Companies

Financials

WMBKMILNGOKEBANLTMDEMedian
NameWilliams.Kinder M.Cheniere.ONEOK CBL Inte.TMD Ener. 
Mkt Price57.6226.08211.5266.720.500.7241.85
Mkt Cap70.458.046.442.1--52.2
Rev LTM11,22516,41618,96231,564--17,689
Op Inc LTM3,6704,4597,0475,907--5,183
FCF LTM1,7922,7572,2222,920--2,490
FCF 3Y Avg2,5233,3754,3552,763--3,069
CFO LTM5,3445,7355,1255,664--5,504
CFO 3Y Avg5,5015,9186,7494,801--5,710

Growth & Margins

WMBKMILNGOKEBANLTMDEMedian
NameWilliams.Kinder M.Cheniere.ONEOK CBL Inte.TMD Ener. 
Rev Chg LTM7.4%8.3%17.8%58.4%--13.1%
Rev Chg 3Y Avg1.8%-4.3%-12.4%16.4%---1.3%
Rev Chg Q19.0%12.1%18.0%71.9%--18.5%
QoQ Delta Rev Chg LTM4.1%2.8%3.7%12.9%--3.9%
Op Mgn LTM32.7%27.2%37.2%18.7%--29.9%
Op Mgn 3Y Avg34.5%27.6%53.2%21.2%--31.1%
QoQ Delta Op Mgn LTM1.0%-0.5%-0.4%-0.9%---0.5%
CFO/Rev LTM47.6%34.9%27.0%17.9%--31.0%
CFO/Rev 3Y Avg49.8%37.5%33.4%21.5%--35.5%
FCF/Rev LTM16.0%16.8%11.7%9.3%--13.8%
FCF/Rev 3Y Avg22.9%21.5%20.8%12.7%--21.1%

Valuation

WMBKMILNGOKEBANLTMDEMedian
NameWilliams.Kinder M.Cheniere.ONEOK CBL Inte.TMD Ener. 
Mkt Cap70.458.046.442.1--52.2
P/S6.33.52.41.3--3.0
P/EBIT15.213.06.46.6--9.8
P/E29.021.311.612.6--16.9
P/CFO13.210.19.17.4--9.6
Total Yield6.8%9.2%9.6%7.9%--8.6%
Dividend Yield3.4%4.5%1.0%0.0%--2.2%
FCF Yield 3Y Avg5.0%7.2%10.4%6.9%--7.0%
D/E0.40.60.50.8--0.6
Net D/E0.40.60.50.8--0.5

Returns

WMBKMILNGOKEBANLTMDEMedian
NameWilliams.Kinder M.Cheniere.ONEOK CBL Inte.TMD Ener. 
1M Rtn-9.0%-7.9%-10.0%-8.6%-33.5%-12.1%-9.5%
3M Rtn-3.1%-7.1%-10.1%-18.7%-30.1%-20.2%-14.4%
6M Rtn-0.3%0.2%-7.8%-15.5%-46.9%-47.8%-11.6%
12M Rtn13.6%9.7%17.3%-27.3%-48.6%-9.7%
3Y Rtn102.0%67.8%23.5%29.6%--48.7%
1M Excs Rtn-11.2%-9.5%-10.5%-10.2%-35.1%-13.4%-10.9%
3M Excs Rtn-13.0%-16.6%-20.6%-24.9%-36.4%-26.6%-22.8%
6M Excs Rtn-22.1%-21.5%-29.6%-37.2%-68.7%-69.6%-33.4%
12M Excs Rtn-3.1%-7.3%-0.9%-44.4%-64.1%--7.3%
3Y Excs Rtn30.8%-0.4%-48.1%-41.1%---20.8%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/4/20255/5/20252/25/202511/6/20248/5/20245/6/20242/21/202411/1/20238/2/20235/3/20232/27/202310/31/2022
Key Financials Quarterly            
Total Revenue2,7813,0482,7432,6532,3362,7712,7842,5592,4833,0812,9303,021
Ebitda1,7121,8561,5111,8721,4341,7522,3981,6961,5772,0411,7471,508
Operating Income9451,0947938386961,0121,0888648701,3601,072820
Net Income5466914867064016321,138654460927669600
EPS0.450.570.390.580.330.520.940.540.380.760.550.49
Key Financials TTM            
Total Revenue TTM11,22510,78010,50310,54410,45010,59710,90711,05311,51511,52210,96511,292
Ebitda TTM6,9516,6736,5697,4567,2807,4237,7127,0616,8736,4455,6985,530
Operating Income TTM3,6703,4213,3393,6343,6603,8344,1824,1664,1223,7243,0182,883
Net Income TTM2,4292,2842,2252,8772,8252,8843,1792,7102,6562,5962,0492,002
Growth Rates Quarterly            
Total Revenue Growth19.0%10.0%-1.5%3.7%-5.9%-10.1%-5.0%-15.3%-0.3%22.1%-10.0%22.1%
EBITDA Growth19.4%5.9%-37.0%10.4%-9.1%-14.2%37.3%12.5%37.2%57.7%10.6%50.0%
Operating Income Growth35.8%8.1%-27.1%-3.0%-20.0%-25.6%1.5%5.4%84.3%108.0%14.4%131.0%
Net Income Growth36.2%9.3%-57.3%8.0%-12.8%-31.8%70.1%9.0%15.0%143.9%7.6%263.6%
Margins Quarterly            
EBITDA Margin61.6%60.9%55.1%70.6%61.4%63.2%86.1%66.3%63.5%66.2%59.6%49.9%
Operating Income Margin34.0%35.9%28.9%31.6%29.8%36.5%39.1%33.8%35.0%44.1%36.6%27.1%
Net Income Margin19.6%22.7%17.7%26.6%17.2%22.8%40.9%25.6%18.5%30.1%22.8%19.9%
Cash & Debt            
Total Cash90310060762556672,1502,074551477152859
Total Debt28,57227,41126,93727,10926,26226,88726,46225,65124,40924,41222,92923,407
Net Debt / (Cash)27,66927,31126,87726,34726,20726,22024,31223,57723,85823,93522,77722,548
Cash Flows Quarterly            
FCF from Operations1,4501,4331,2181,2431,2791,2341,8131,2341,3771,5141,2191,490
Cash Flows TTM            
FCF from Operations TTM5,3445,1734,9745,5695,5605,6585,9385,3445,6005,3214,8894,809
Returns to Shareholders Quarterly            
Dividends611610579579579579544544545546518518
Share Repurchases-0-0-0-0-0-0-0-05674-09
Return on Invested Capital (ROIC) Quarterly            
ROIC5.7%6.8%5.3%5.1%4.3%6.3%6.9%5.8%5.6%8.8%6.7%6.1%
Return on Invested Capital (ROIC) TTM            
ROIC TTM5.6%5.3%5.2%5.6%5.7%6.0%6.7%6.8%6.8%6.4%5.4%5.3%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Product sales4,92811,0666,621  
Other revenues4,5377,9352,644  
Monetary consideration3,5333,2582,877  
Regulated interstate natural gas transportation and storage3,2743,0672,955  
Commodity consideration146260238  
Other115122933430
Other adjustments-5,626-14,743-4,801  
Eliminations   -256-280
Northeast Gathering and processing (G&P)   1,5291,500
Transmission & Gulf of Mexico   3,4693,640
West   2,9433,311
Total10,90710,96510,6277,7198,201


Price Behavior

WMB Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta-0.18-0.16-0.180.550.640.66
Up Beta0.24-0.61-0.440.390.490.58
Down Beta-0.41-0.43-0.881.011.000.94
Up Capture90%31%13%31%60%37%
Bmk +ve Days13233574144420
Stock +ve Days12223370136416
Down Capture-179%-30%8%40%51%76%
Bmk -ve Days8192952107330
Stock -ve Days9193054113329

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity12,768,083
Short Interest: % Change Since 9302025-15.3%
Average Daily Volume6,229,613
Days-to-Cover Short Interest2.05
Basic Shares Quantity1,221,650,000
Short % of Basic Shares1.0%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/2025-2.1%-3.7%-4.2%
5/5/2025-2.4%-5.1%-0.1%
2/12/20254.8%6.6%5.4%
11/6/20240.2%0.5%2.7%
8/5/20243.9%5.0%7.8%
5/6/20240.1%1.5%6.5%
2/14/2024-2.9%1.9%9.8%
11/1/20233.1%1.2%7.4%
...
SUMMARY STATS   
# Positive131516
# Negative1087
Median Positive2.3%3.1%6.4%
Median Negative-1.8%-3.2%-4.2%
Max Positive8.2%9.2%15.3%
Max Negative-3.4%-10.8%-48.5%

SEC Filings

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Report DateFiling DateFiling
6302025804202510-Q 6/30/2025
3312025505202510-Q 3/31/2025
12312024225202510-K 12/31/2024
93020241106202410-Q 9/30/2024
6302024805202410-Q 6/30/2024
3312024506202410-Q 3/31/2024
12312023221202410-K 12/31/2023
93020231101202310-Q 9/30/2023
6302023802202310-Q 6/30/2023
3312023503202310-Q 3/31/2023
12312022227202310-K 12/31/2022
93020221031202210-Q 9/30/2022
6302022801202210-Q 6/30/2022
3312022502202210-Q 3/31/2022
12312021228202210-K 12/31/2021
93020211101202110-Q 9/30/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Larsen Larry CExecutive Vice President & COO8122025Sell58.474,500263,1154,537,974Form
1Wilson Terrance LaneSVP & General Counsel7022025Sell62.702,000125,40019,790,942Form
2Wilson Terrance LaneSVP & General Counsel6032025Sell61.212,000122,42019,443,050Form
3Wilson Terrance LaneSVP & General Counsel5022025Sell58.212,000116,42018,606,535Form
4Wilson Terrance LaneSVP & General Counsel4022025Sell59.532,000119,06019,147,527Form

Industry Resources

External Quote Links


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