WILLIAMS COMPANIES, INC. WMB
This report includes information for multiple registrants, specifically The Williams Companies, Inc. (Williams), as well as Transcontinental Gas Pipe Line Company, LLC (Transco) and Northwest Pipeline LLC (NWP) both of which are wholly owned subsidiaries of Williams (collectively, the Registrants). References to subsidiaries by name, including equity-method investees, Transco, and NWP, refer exclusively to those businesses and operations.
Williams is an energy company committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Williams has operations in 11 supply areas that provide natural gas gathering and processing (G&P), transmission and storage services; NGL fractionation, transportation, and storage services; and marketing services to approximately 800 customers. Williams owns an interest in and operates over 32,000 miles of pipelines in 24 states and in the Gulf of America, 35 natural gas processing facilities, 9 NGL fractionation facilities, approximately 23 million barrels of NGL storage capacity, and 423 Bcf of natural gas storage capacity, and delivers natural gas that is used every day for clean-power generation, heating, and industrial use.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.90B | $12.63B | $12.00B | $17.77B | $12.78B | $7.65B | $8.14B | $8.60B | $8.03B | $7.50B |
| SG&A | $721.0M | $708.0M | $665.0M | $636.0M | $558.0M | $466.0M | $558.0M | $569.0M | $594.0M | $722.0M |
| Total operating expenses | $7.75B | $7.16B | $6.60B | $7.95B | $8.00B | $5.52B | $6.28B | $7.92B | $7.10B | $6.81B |
| Operating income | $4.20B | $3.34B | $4.31B | $3.02B | $2.63B | $2.20B | $1.92B | $768.0M | $927.0M | $689.0M |
| Interest expense | $1.44B | $1.36B | $1.24B | $1.15B | $1.18B | $1.17B | $1.19B | $1.11B | $1.08B | $1.18B |
| Pre-tax income | $3.62B | $2.99B | $4.41B | $2.54B | $2.07B | $277.0M | $1.06B | $331.0M | $535.0M | -$375.0M |
| Income tax | $857.0M | $640.0M | $1.00B | $425.0M | $511.0M | $79.0M | $335.0M | $138.0M | $1.97B | $25.0M |
| Net income | $2.62B | $2.23B | $3.18B | $2.05B | $1.52B | $211.0M | $850.0M | -$155.0M | $2.17B | -$424.0M |
| EPS, basic | 2.14 | 1.82 | 2.61 | 1.68 | 1.25 | 0.17 | 0.70 | -0.16 | 2.63 | -0.57 |
| EPS, diluted | 2.14 | 1.82 | 2.60 | 1.67 | 1.24 | 0.17 | 0.70 | -0.16 | 2.62 | -0.57 |
| Shares, diluted (wtd. avg.) | 1.23B | 1.22B | 1.22B | 1.22B | 1.22B | 1.22B | 1.21B | 973.6M | 828.5M | 750.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $63.0M | $60.0M | $2.15B | $152.0M | $1.68B | $142.0M | $289.0M | $168.0M | $899.0M | $170.0M |
| Receivables | $2.08B | $1.86B | $1.66B | $2.72B | $1.98B | $999.0M | $996.0M | $992.0M | $976.0M | $938.0M |
| Inventory | $314.0M | $279.0M | $274.0M | $320.0M | $379.0M | $136.0M | $125.0M | $130.0M | $113.0M | $138.0M |
| Total current assets | $3.24B | $2.66B | $4.51B | $3.80B | $4.55B | $1.43B | $1.58B | $1.46B | $2.18B | $1.46B |
| Property, plant and equipment | $42.00B | $38.69B | $34.31B | $30.89B | $29.26B | $28.93B | $29.20B | $27.50B | $28.21B | $28.43B |
| Goodwill | $466.0M | $466.0M | $463.0M | $0 | $0 | — | $188.0M | $0 | $47.0M | — |
| Total assets | $58.57B | $54.53B | $52.63B | $48.43B | $47.61B | $44.16B | $46.04B | $45.30B | $46.35B | $46.84B |
| Accounts payable | $2.22B | $1.61B | $1.38B | $2.33B | $1.75B | $482.0M | $552.0M | $662.0M | $978.0M | $623.0M |
| Total current liabilities | $6.11B | $5.31B | $5.83B | $4.89B | $4.97B | $2.32B | $3.97B | $1.81B | $2.65B | $2.95B |
| Retained earnings | -$12.24B | -$12.40B | -$12.29B | -$13.27B | -$13.24B | -$12.75B | -$11.00B | -$10.00B | -$8.43B | -$9.65B |
| Total equity | $12.81B | $12.44B | $14.89B | $14.04B | $14.10B | $14.58B | $16.36B | $16.00B | $16.18B | $14.05B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $5.90B | $4.97B | $5.94B | $4.89B | $3.94B | $3.50B | $3.69B | $3.29B | $3.09B | $4.16B |
| Depreciation and amortisation | $2.35B | $2.22B | $2.07B | $2.01B | $1.84B | $1.72B | $1.71B | $1.73B | $1.74B | $1.76B |
| Stock-based compensation | $93.0M | $99.0M | $77.0M | $73.0M | $81.0M | $52.0M | $57.0M | $55.0M | $78.0M | $73.0M |
| Capital expenditure | $4.89B | $2.57B | $2.52B | $2.25B | $1.24B | $1.24B | $2.11B | $3.26B | $2.40B | $2.05B |
| Investing cash flow | -$5.49B | -$4.86B | -$3.89B | -$3.38B | -$1.47B | -$1.56B | -$2.83B | -$2.73B | $100.0M | -$891.0M |
| Financing cash flow | -$406.0M | -$2.20B | -$49.0M | -$3.04B | -$942.0M | -$2.08B | -$745.0M | -$1.30B | -$2.46B | -$3.19B |
| Dividends paid | $2.44B | $2.32B | $2.18B | $2.07B | $1.99B | $1.94B | $1.84B | $1.39B | $992.0M | $1.26B |
| Buybacks | $0 | $0 | $130.0M | $9.0M | $0 | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000107263-26-000006.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.50B | $8.03B | $8.60B | $8.14B | $7.65B | $12.78B | $17.77B | $12.00B | $12.63B | $14.90B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$424.0M | $2.17B | -$155.0M | $850.0M | $211.0M | $1.52B | $2.05B | $3.18B | $2.23B | $2.62B |
Recent filings and events
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Results announced Item 2.02
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 4922
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|---|---|---|---|---|
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| ET | Energy Transfer LP | $70.42B | — | 3.5% |
| TRGP | Targa Resources Corp. | $64.84B | 35.6x | 3.9% |
| WES | Western Midstream Partners, LP | $17.77B | — | 6.6% |
| DTM | DT Midstream, Inc. | $12.64B | 28.8x | 26.7% |
| AM | Antero Midstream Corp | $9.90B | 24.2x | 7.4% |
| AROC | Archrock, Inc. | $5.11B | 15.9x | 28.7% |