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NYSE · Energy

WILLIAMS COMPANIES, INC. (WMB)

As-reported financials and SEC filings for WILLIAMS COMPANIES, INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About WILLIAMS COMPANIES, INC.

Williams Companies, Inc. is an energy company that provides infrastructure for gathering, processing, transmitting, storing, and marketing natural gas and natural gas liquids (NGLs) in the United States. It operates over 32,000 miles of pipelines, natural gas processing and fractionation facilities, and storage capacity serving approximately 800 customers including utilities, municipalities, industrial users, and producers. Its subsidiaries, Transcontinental Gas Pipe Line Company and Northwest Pipeline, operate interstate natural gas pipeline systems regulated by the Federal Energy Regulatory Commission.

Snapshot

Revenue
$11.95B
Revenue growth (YoY)
13.8%
Net income
$2.62B
Diluted EPS
$2.14
Gross margin
Operating margin
35.1%
Net margin
21.9%
FCF margin
8.4%
ROE
17.5%
net income / fiscal-year-end equity
P/E
29.0×
trailing when available, otherwise FY EPS
Market cap
$89.07B
Long-term debt / equity
1.82×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Williams Companies

  • Revenue grew 13.8% to $11.9B in FY2025, after a 3.7% decline the year before.
  • Operating margin is 35.1% in FY2025, +10.4 pp against 24.8% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $3.4B, up 0.0% from Q2 FY2025.
  • Free cash flow was $1.0B in FY2025, 8.4% of revenue.
  • Net income rose 17.7% to $2.6B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Williams Companies’s fundamentals sit among the 125 Energy companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin35.1%
91st percentile of 104
Net margin21.9%
87th percentile of 120
FCF margin8.4%
66th percentile of 69
Revenue growth (YoY)+13.8%
74th percentile of 122
ROE17.5%
88th percentile of 100
P/E29.0×
80th percentile of 85
Long-term debt / equity1.82×
90th percentile of 83
Short interest3.36d
28th percentile of 123

Williams Companies’s operating margin of 35.1% ranks in the 91st percentile of the 104 Energy companies reporting it. Williams Companies’s long-term debt to equity of 1.82 ranks in the 90th percentile of the 83 Energy companies reporting it. Williams Companies’s return on equity of 17.5% ranks in the 88th percentile of the 100 Energy companies reporting it.

No reported insider purchases (code P) in the last 90 days; 5 insider sales totaling $1.4M. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 4 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
4
+7 quant / multi-strat
Initiated / added
4
1 new, 3 added
Reduced / exited
6
6 trimmed, 0 exited
Combined position
$703.1M
reported long value
InvestorAs ofPosition valueSharesChange
Citadel AdvisorsquantQ2 2026$194.9M2.6MAdded
Point72 Asset ManagementquantQ2 2026$188.0M2.5MAdded
Millennium ManagementquantQ2 2026$109.4M1.5MReduced
AQR Capital ManagementquantQ2 2026$75.2M1.0MAdded
Dodge & CoxQ2 2026$70.2M944.5KReduced
D. E. ShawquantQ2 2026$54.4M731.2KReduced
Gotham Asset ManagementQ2 2026$4.4M58.7KReduced
Bridgewater AssociatesQ2 2026$2.3M31.2KReduced
Two Sigma InvestmentsquantQ2 2026$2.2M29.1KHeld
Renaissance TechnologiesquantQ2 2026$1.9M25.5KNew
First Eagle Investment ManagementQ2 2026$314,5334.2KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
5
$1.4M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-09-01
filed 2026-09-02
Wilson Terrance LaneSVP & General CounselSell2.0K$75.56$151K
2026-08-14
filed 2026-08-17
Wilson Terrance LaneSVP & General CounselSell10.2K$74.88$764K
2026-08-14
filed 2026-08-17
Wilson Terrance LaneSVP & General CounselSell2.8K$74.84$210K
2026-08-03
filed 2026-08-04
Wilson Terrance LaneSVP & General CounselSell2.0K$70.65$141K
2026-07-01
filed 2026-07-02
Wilson Terrance LaneSVP & General CounselSell2.0K$74.16$148K
2026-06-01
filed 2026-06-02
Wilson Terrance LaneSVP & General CounselSell2.0K$71.30$143K
2026-05-15
filed 2026-05-18
Jasek Glen G.Senior Vice PresidentSell1.7K$78.17$130K
2026-05-15
filed 2026-05-18
Jasek Glen G.Senior Vice PresidentSell836$78.13$65K
2026-05-14
filed 2026-05-15
Larsen Larry CExecutive Vice President & COOSell12.0K$76.48$918K
2026-05-06
filed 2026-05-07
Porter John DeanEVP & CFOSell50.0K$75.37$3.8M
2026-05-01
filed 2026-05-04
Wilson Terrance LaneSVP & General CounselSell2.0K$76.35$153K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
26.2M
settled 2026-08-31
Change vs prior
+8.5%
vs previous settlement
Days to cover
3.36
at avg daily volume
Avg daily volume
7.8M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-3126.2M+8.5%3.36
2026-08-1424.1M-8.9%3.87
2026-07-3126.5M+29.4%3.99
2026-07-1520.5M-16.6%3.19
2026-06-3024.5M+4.0%2.50
2026-06-1523.6M+8.8%4.08
2026-05-2921.7M+6.8%3.13
2026-05-1520.3M+9.1%2.98

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$11.95B$10.50B$10.91B$17.77B$10.63B
Gross profit
Operating income$4.20B$3.34B$4.31B$3.02B$2.63B
Net income$2.62B$2.23B$3.18B$2.05B$1.52B
Diluted EPS$2.14$1.82$2.60$1.67$1.24

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$63.0M$60.0M$2.15B$152.0M$1.68B
Current assets$3.24B$2.66B$4.51B$3.80B$4.55B
Total assets$58.57B$54.53B$52.63B$48.43B$47.61B
Current liabilities$6.11B$5.31B$5.83B$4.89B$4.97B
Long-term debt$27.32B$24.74B$23.38B$21.93B$21.65B
Total liabilities$43.58B$39.69B$37.74B$34.39B$33.51B
Total equity$14.99B$14.84B$14.89B$14.04B$14.10B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$5.90B$4.97B$5.94B$4.89B$3.94B
Capital expenditure$4.89B$2.57B$2.52B$2.25B$1.24B
Free cash flow$1.00B$2.40B$3.42B$2.64B$2.71B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$3.38B0.0%$827.0M$0.68
Q1 FY2026$4.72B12.7%$865.0M$0.70
Q4 FY2025$894.0M-30.3%$734.0M$0.60
Q3 FY2025$3.49B15.0%$647.0M$0.53
Q2 FY2025$3.38B18.7%$546.0M$0.45
Q1 FY2025$4.19B25.4%$691.0M$0.56
Q4 FY2024$1.28B-33.6%$486.0M$0.40
Q3 FY2024$3.04B-0.8%$706.0M$0.58

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorEnergy
SIC industryNatural Gas Transmission
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2016
SEC CIK107263

Selected SEC filings

10-K2026-02-24
View on EDGAR →
10-K2025-02-25
View on EDGAR →
10-Q2026-08-03
View on EDGAR →
10-Q2026-05-04
View on EDGAR →
10-Q2025-11-03
View on EDGAR →
10-Q2025-08-04
View on EDGAR →
8-K2026-09-10
View on EDGAR →
8-K2026-09-10
View on EDGAR →

Largest Energy peers

All Energy companies →

WMB head to head

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.