WMB Chart
About

The Williams Companies, Inc., together with its subsidiaries, operates as an energy infrastructure company primarily in the United States. It operates through Transmission, Power & Gulf, Northeast G&P, West, and Gas & NGL Marketing Services segments. The Transmission, Power & Gulf segment comprises Transco, NWP, and Mountain West interstate natural gas pipelines, and their related natural gas storage facilities, as well as natural gas gathering and processing; and crude oil production handling and transportation assets in the Gulf Coast region. The Northeast G&P segment engages in the midstream gathering, processing, and fractionation activities in the Marcellus Shale region primarily in Pennsylvania and New York, and the Utica Shale region of eastern Ohio. The West segment consists of gas gathering, processing, and treating operations in the Rocky Mountain region of Colorado and Wyoming, the Barnett Shale region of north-central Texas, the Eagle Ford Shale region of South Texas, the Haynesville Shale region of northwest Louisiana, the Mid-Continent region that includes the Anadarko and Permian basins, and the DJ Basin of Colorado; and operates natural gas liquid (NGL) fractionation and storage assets in central Kansas near Conway. The Gas & NGL Marketing Services segment provides wholesale marketing, trading, storage, and transportation of natural gas for natural gas utilities, municipalities, power generators, and producers; asset management services; and transports and markets NGLs. The company owns and operates approximately 32,000 miles of pipelines. The Williams Companies, Inc. was founded in 1908 and is headquartered in Tulsa, Oklahoma.

Fundamentals
Scroll to Statements
Sector Energy Industry Oil & Gas Midstream Market Cap 90.85B
Enterprise Value 121.90B Income 2.62B Sales 11.83B
Book/sh 10.45 Cash/sh 0.05 Dividend Yield 284.00%
Payout 93.46% Employees 5987 IPO
P/E 34.75 Forward P/E 28.37 PEG
P/S 7.68 P/B 7.12 P/C
EV/EBITDA 17.99 EV/Sales 10.30 Quick Ratio 0.30
Current Ratio 0.53 Debt/Eq 197.03 LT Debt/Eq
EPS (ttm) 2.14 EPS next Y 2.62 EPS Growth 50.80%
Revenue Growth 8.70% Earnings 2026-05-04 ROA 4.90%
ROE 18.55% ROIC Gross Margin 62.12%
Oper. Margin 41.25% Profit Margin 22.13% Shs Outstand 1.22B
Shs Float 1.21B Short Float 1.31% Short Ratio 1.72
Short Interest 52W High 76.87 52W Low 51.58
Beta 0.65 Avg Volume 7.39M Volume 870.85K
Target Price $77.41 Recom Buy Prev Close $73.84
Price $74.37 Change 0.72%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$77.41
Mean price target
2. Current target
$74.37
Latest analyst target
3. DCF / Fair value
$-5.21
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$74.37
Low
$60.00
High
$90.00
Mean
$77.41

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-02 main Morgan Stanley Overweight → Overweight $90
2026-02-17 main UBS Buy → Buy $89
2026-02-17 main Jefferies Buy → Buy $81
2026-02-13 up Scotiabank Sector Perform → Sector Outperform $84
2026-02-13 main Stifel Buy → Buy $78
2026-02-12 main Citigroup Buy → Buy $81
2026-02-11 main RBC Capital Outperform → Outperform $78
2026-02-11 main Wells Fargo Overweight → Overweight $80
2026-02-03 main Jefferies Buy → Buy $76
2026-01-09 main Jefferies Buy → Buy $71
2025-11-13 main Citigroup Buy → Buy $70
2025-11-06 main TD Cowen Buy → Buy $70
2025-11-05 main Jefferies Buy → Buy $70
2025-11-05 main BMO Capital Outperform → Outperform $70
2025-10-14 main Barclays Equal-Weight → Equal-Weight $66
2025-10-09 init Jefferies — → Buy $72
2025-10-02 main Morgan Stanley Overweight → Overweight $83
2025-10-02 main Goldman Sachs Neutral → Neutral $65
2025-09-30 main UBS Buy → Buy $78
2025-09-30 main Barclays Equal-Weight → Equal-Weight $65
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 2000 150480.0 Sale at price 75.24 per share. WILSON TERRANCE LANE General Counsel 2026-03-02 00:00:00 D
1 10107 757115.0 Sale at price 74.91 per share. HAUSMAN MARY A. Officer 2026-02-26 00:00:00 D
2 3000 Stock Gift at price 0.00 per share. WILSON TERRANCE LANE General Counsel 2026-02-24 00:00:00 I
3 27000 1968840.0 Sale at price 72.92 per share. WILSON TERRANCE LANE General Counsel 2026-02-24 00:00:00 D
4 64029 4672836.0 Conversion of Exercise of derivative security at price 72.98 per share. PORTER JOHN DEAN Chief Financial Officer 2026-02-23 00:00:00 D
5 34478 nan TEPLY CHAD A Officer 2026-02-23 00:00:00 D
6 8559 624636.0 Conversion of Exercise of derivative security at price 72.98 per share. HAUSMAN MARY A. Officer 2026-02-23 00:00:00 D
7 36939 2695808.0 Conversion of Exercise of derivative security at price 72.98 per share. LARSEN LARRY C Chief Operating Officer 2026-02-23 00:00:00 D
8 6698 488820.0 Conversion of Exercise of derivative security at price 72.98 per share. RINKE TODD J Officer 2026-02-23 00:00:00 D
9 6403 467291.0 Conversion of Exercise of derivative security at price 72.98 per share. FAZEL PAYVAND Officer 2026-02-23 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-49.77M59.16M157.88M167.19K
TaxRateForCalcs0.240.210.230.17
NormalizedEBITDA7.62B6.29B7.02B5.70B
TotalUnusualItems-210.00M276.00M692.00M1.00M
TotalUnusualItemsExcludingGoodwill-210.00M276.00M692.00M1.00M
NetIncomeFromContinuingOperationNetMinorityInterest2.62B2.23B3.28B2.05B
ReconciledDepreciation2.35B2.22B2.07B2.01B
ReconciledCostOfRevenue4.55B4.34B4.11B5.47B
EBITDA7.41B6.57B7.71B5.70B
EBIT5.07B4.35B5.64B3.69B
NetInterestIncome-1.40B-1.30B-1.16B-1.13B
InterestExpense1.44B1.36B1.24B1.15B
InterestIncome40.00M67.00M79.00M15.00M
NormalizedIncome2.78B2.01B2.74B2.05B
NetIncomeFromContinuingAndDiscontinuedOperation2.62B2.23B3.18B2.05B
TotalExpenses7.54B7.16B6.72B7.95B
TotalOperatingIncomeAsReported4.20B3.34B4.31B3.02B
DilutedAverageShares1.23B1.22B1.22B1.22B
BasicAverageShares1.22B1.22B1.22B1.22B
DilutedEPS2.141.822.601.67
BasicEPS2.141.822.611.68
DilutedNIAvailtoComStockholders2.62B2.22B3.18B2.05B
NetIncomeCommonStockholders2.62B2.22B3.18B2.05B
PreferredStockDividends3.00M3.00M3.00M3.00M
NetIncome2.62B2.23B3.18B2.05B
MinorityInterests-150.00M-121.00M-124.00M-68.00M
NetIncomeIncludingNoncontrollingInterests2.77B2.35B3.30B2.12B
NetIncomeDiscontinuousOperations0.000.00-97.00M0.00
NetIncomeContinuousOperations2.77B2.35B3.40B2.12B
TaxProvision857.00M640.00M1.00B425.00M
PretaxIncome3.62B2.99B4.41B2.54B
OtherIncomeExpense619.00M944.00M1.38B656.00M
OtherNonOperatingIncomeExpenses69.00M108.00M99.00M18.00M
SpecialIncomeCharges-212.00M149.00M663.00M0.00
GainOnSaleOfBusiness0.00149.00M129.00M0.00
OtherSpecialCharges-534.00M
WriteOff212.00M0.0010.00M0.00
ImpairmentOfCapitalAssets0.002.00M
EarningsFromEquityInterest760.00M560.00M589.00M637.00M
GainOnSaleOfSecurity2.00M127.00M29.00M1.00M
NetNonOperatingInterestIncomeExpense-1.40B-1.30B-1.16B-1.13B
InterestExpenseNonOperating1.44B1.36B1.24B1.15B
InterestIncomeNonOperating40.00M67.00M79.00M15.00M
OperatingIncome4.41B3.34B4.18B3.02B
OperatingExpense3.00B2.83B2.62B2.48B
OtherOperatingExpenses-7.00M-60.00M-30.00M28.00M
SellingGeneralAndAdministration721.00M708.00M665.00M636.00M
GrossProfit7.40B6.17B6.80B5.50B
CostOfRevenue4.55B4.34B4.11B5.47B
TotalRevenue11.95B10.50B10.91B10.96B
OperatingRevenue11.83B10.75B9.95B11.35B
Line Item2025-12-312024-12-312023-12-312022-12-31
TreasurySharesNumber39.00M39.00M39.00M35.00M
OrdinarySharesNumber1.22B1.22B1.22B1.22B
ShareIssued1.26B1.26B1.26B1.25B
NetDebt29.30B26.85B24.29B22.75B
TotalDebt29.39B26.94B26.46B22.93B
TangibleBookValue6.01B5.19B4.77B4.09B
InvestedCapital42.13B39.31B38.80B34.35B
WorkingCapital-2.86B-2.65B-1.32B-1.09B
NetTangibleAssets6.04B5.23B4.81B4.12B
CapitalLeaseObligations32.00M26.00M24.00M25.00M
CommonStockEquity12.77B12.40B12.37B11.45B
PreferredStockEquity35.00M35.00M35.00M35.00M
TotalCapitalization40.12B37.17B35.78B33.41B
TotalEquityGrossMinorityInterest14.99B14.84B14.89B14.04B
MinorityInterest2.19B2.40B2.49B2.56B
StockholdersEquity12.81B12.44B12.40B11.48B
GainsLossesNotAffectingRetainedEarnings127.00M76.00M0.00-24.00M
OtherEquityAdjustments127.00M76.00M-24.00M-33.00M
TreasuryStock1.18B1.18B1.18B1.05B
RetainedEarnings-12.24B-12.40B-12.29B-13.27B
AdditionalPaidInCapital24.80B24.64B24.58B24.54B
CapitalStock1.30B1.29B1.29B1.29B
CommonStock1.26B1.26B1.26B1.25B
PreferredStock35.00M35.00M35.00M35.00M
TotalLiabilitiesNetMinorityInterest43.58B39.69B37.74B34.39B
TotalNonCurrentLiabilitiesNetMinorityInterest37.47B34.38B31.91B29.50B
OtherNonCurrentLiabilities4.99B5.27B4.68B4.68B
NonCurrentDeferredLiabilities5.17B4.38B3.85B2.89B
NonCurrentDeferredTaxesLiabilities5.17B4.38B3.85B2.89B
LongTermDebtAndCapitalLeaseObligation27.32B24.74B23.38B21.93B
LongTermDebt27.32B24.74B23.38B21.93B
CurrentLiabilities6.11B5.31B5.83B4.89B
OtherCurrentLiabilities912.00M602.00M581.00M820.00M
CurrentDeferredLiabilities165.00M170.00M159.00M141.00M
CurrentDeferredRevenue165.00M170.00M159.00M141.00M
CurrentDebtAndCapitalLeaseObligation2.08B2.20B3.09B1.00B
CurrentCapitalLeaseObligation32.00M26.00M24.00M25.00M
CurrentDebt2.04B2.17B3.06B977.00M
OtherCurrentBorrowings1.34B1.72B2.34B627.00M
CommercialPaper700.00M455.00M725.00M350.00M
PensionandOtherPostRetirementBenefitPlansCurrent283.00M285.00M197.00M
CurrentProvisions103.00M91.00M106.00M87.00M
PayablesAndAccruedExpenses2.57B1.96B1.70B2.84B
CurrentAccruedExpenses342.00M350.00M322.00M513.00M
InterestPayable342.00M350.00M322.00M274.00M
Payables2.22B1.61B1.38B2.33B
AccountsPayable2.22B1.61B1.38B2.33B
TotalAssets58.57B54.53B52.63B48.43B
TotalNonCurrentAssets55.33B51.87B48.11B44.64B
OtherNonCurrentAssets2.01B1.83B1.57B1.32B
InvestmentsAndAdvances4.56B4.14B4.64B5.07B
OtherInvestments17.00M6.00M
LongTermEquityInvestment5.05B5.12B
InvestmentsInOtherVenturesUnderEquityMethod139.00M130.00M
InvestmentsinAssociatesatCost1.38B1.38B
InvestmentsinSubsidiariesatCost3.52B3.61B
GoodwillAndOtherIntangibleAssets6.76B7.21B7.59B7.36B
OtherIntangibleAssets6.30B6.74B7.13B7.36B
Goodwill466.00M466.00M463.00M
NetPPE42.00B38.69B34.31B30.89B
AccumulatedDepreciation-20.01B-18.70B-17.53B-16.17B
GrossPPE62.01B57.40B51.84B47.06B
ConstructionInProgress3.60B2.08B2.26B1.71B
OtherProperties9.74B9.41B7.14B6.67B
MachineryFurnitureEquipment48.67B45.90B42.44B38.68B
CurrentAssets3.24B2.66B4.51B3.80B
OtherCurrentAssets256.00M192.00M195.00M279.00M
HedgingAssetsCurrent209.00M267.00M239.00M323.00M
AssetsHeldForSaleCurrent318.00M1.00M
Inventory314.00M279.00M274.00M320.00M
Receivables2.08B1.86B1.66B2.72B
OtherReceivables363.00M952.00M
AccountsReceivable2.08B1.86B1.66B1.77B
AllowanceForDoubtfulAccountsReceivable-1.00M-1.00M-3.00M-6.00M
GrossAccountsReceivable2.08B1.86B1.66B2.73B
CashCashEquivalentsAndShortTermInvestments63.00M60.00M2.15B152.00M
CashAndCashEquivalents63.00M60.00M2.15B152.00M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow899.00M2.30B3.37B2.61B
RepurchaseOfCapitalStock0.000.00-130.00M-9.00M
RepaymentOfDebt-2.83B-2.95B-634.00M-2.88B
IssuanceOfDebt4.94B3.59B2.75B1.75B
IssuanceOfCapitalStock9.00M10.00M6.00M54.00M
CapitalExpenditure-5.00B-2.68B-2.57B-2.28B
EndCashPosition63.00M60.00M2.15B152.00M
BeginningCashPosition60.00M2.15B152.00M1.68B
ChangesInCash3.00M-2.09B2.00B-1.53B
FinancingCashFlow-406.00M-2.20B-49.00M-3.04B
CashFlowFromContinuingFinancingActivities-406.00M-2.20B-49.00M-3.04B
NetOtherFinancingCharges-331.00M-274.00M-239.00M-240.00M
CashDividendsPaid-2.44B-2.32B-2.18B-2.07B
CommonStockDividendPaid-2.44B-2.32B-2.18B-2.07B
NetCommonStockIssuance9.00M10.00M-124.00M45.00M
CommonStockPayments0.000.00-130.00M-9.00M
CommonStockIssuance9.00M10.00M6.00M54.00M
NetIssuancePaymentsOfDebt2.36B379.00M2.49B-776.00M
NetShortTermDebtIssuance245.00M-269.00M372.00M345.00M
NetLongTermDebtIssuance2.11B648.00M2.12B-1.12B
LongTermDebtPayments-2.83B-2.95B-634.00M-2.88B
LongTermDebtIssuance4.94B3.59B2.75B1.75B
InvestingCashFlow-5.49B-4.86B-3.89B-3.38B
CashFlowFromContinuingInvestingActivities-5.49B-4.86B-3.89B-3.38B
NetOtherInvestingChanges22.00M12.00M39.00M7.00M
NetBusinessPurchaseAndSale-512.00M-2.20B-1.36B-1.10B
SaleOfBusiness0.00161.00M346.00M0.00
PurchaseOfBusiness-512.00M-2.36B-1.71B-1.10B
NetPPEPurchaseAndSale-106.00M-105.00M-51.00M-30.00M
CapitalExpenditureReported-4.89B-2.57B-2.52B-2.25B
OperatingCashFlow5.90B4.97B5.94B4.89B
CashFlowFromContinuingOperatingActivities5.90B4.97B5.94B4.89B
DividendReceivedCFO800.00M789.00M796.00M865.00M
ChangeInWorkingCapital-164.00M-526.00M118.00M-379.00M
ChangeInOtherWorkingCapital-114.00M-531.00M-16.00M-122.00M
ChangeInOtherCurrentLiabilities170.00M35.00M-19.00M209.00M
ChangeInOtherCurrentAssets-71.00M9.00M60.00M-33.00M
ChangeInPayablesAndAccruedExpense115.00M139.00M-1.01B410.00M
ChangeInAccruedExpense-19.00M209.00M58.00M
ChangeInPayable115.00M139.00M-1.01B410.00M
ChangeInAccountPayable115.00M139.00M-1.01B410.00M
ChangeInInventory-45.00M-9.00M13.00M-110.00M
ChangeInReceivables-219.00M-169.00M1.09B-733.00M
ChangesInAccountReceivables-219.00M-169.00M1.09B-733.00M
StockBasedCompensation93.00M99.00M77.00M73.00M
AssetImpairmentCharge220.00M10.00M30.00M161.00M
DeferredTax744.00M506.00M951.00M431.00M
DeferredIncomeTax744.00M506.00M951.00M431.00M
DepreciationAmortizationDepletion2.35B2.22B2.07B2.01B
DepreciationAndAmortization2.35B2.22B2.07B2.01B
OperatingGainsLosses-910.00M-469.00M-1.41B-388.00M
EarningsLossesFromEquityInvestments-760.00M-687.00M-619.00M-637.00M
GainLossOnInvestmentSecurities-150.00M367.00M-660.00M249.00M
GainLossOnSaleOfBusiness0.00-149.00M-129.00M0.00
NetIncomeFromContinuingOperations2.77B2.35B3.30B2.12B
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for WMB
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status