W 
Williams Companies WMB · USD
Energy · Oil, Gas & Consumable Fuels · US listing · 🇺🇸 United States
S&P 500
66.45
+3.70%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$11.95bn
FY2016FY2025
Net income
$2.62bn
FY2016FY2025
Free cash flow
$1.00bn
FY2016FY2025
Shareholders' equity
$12.81bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.95bn | $10.50bn | $10.91bn | $10.96bn | $10.63bn | $7.72bn | $8.20bn | $8.69bn | $8.03bn | $7.50bn |
| Operating income | $4.40bn | $3.34bn | $5.51bn | $3.02bn | $2.63bn | $1.45bn | $1.92bn | $768.0m | $927.0m | $689.0m |
| Net income | $2.62bn | $2.23bn | $3.18bn | $2.05bn | $1.52bn | $211.0m | $850.0m | −$155.0m | $2.17bn | −$424.0m |
| Diluted earnings per share | 2.14 | 1.82 | 2.60 | 1.67 | 1.25 | 0.17 | 0.70 | -0.13 | 2.62 | -0.56 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $58.57bn | $54.53bn | $52.63bn | $48.43bn | $47.61bn | $44.16bn | $46.04bn | $45.30bn | $46.35bn | $46.84bn |
| Cash and short-term investments | $63.0m | $60.0m | $2.15bn | $152.0m | $1.68bn | $142.0m | $289.0m | $168.0m | $899.0m | $170.0m |
| Total liabilities | $43.58bn | $39.69bn | $37.74bn | $34.39bn | $33.51bn | $29.58bn | $29.68bn | $29.30bn | $30.18bn | $32.79bn |
| Debt | $29.36bn | $26.91bn | $26.44bn | $22.90bn | $23.68bn | $22.34bn | $22.29bn | $22.41bn | $20.93bn | $23.50bn |
| Shareholders' equity | $12.81bn | $12.44bn | $12.40bn | $11.48bn | $11.42bn | $11.77bn | $13.36bn | $14.66bn | $9.66bn | $4.64bn |
| Shares outstanding | 1,222m | 1,224m | 1,223m | 1,224m | 1,218m | 1,217m | 1,213m | 1,211m | 830m | 751m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $5.90bn | $4.97bn | $5.94bn | $4.89bn | $3.94bn | $3.50bn | $3.69bn | $3.29bn | $2.56bn | $3.66bn |
| Capital spending | −$4.89bn | −$2.57bn | −$2.57bn | −$2.28bn | −$1.25bn | −$1.27bn | −$2.15bn | −$3.26bn | −$2.44bn | −$2.05bn |
| Free cash flow | $1.00bn | $2.40bn | $3.37bn | $2.61bn | $2.70bn | $2.22bn | $1.54bn | $30.0m | $116.0m | $1.61bn |
| Dividends paid | −$2.44bn | −$2.32bn | −$2.18bn | −$2.07bn | −$1.99bn | −$1.94bn | −$1.84bn | −$1.39bn | −$992.0m | −$1.26bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.05bn | $3.03bn | $3.20bn | $2.92bn | $2.77bn | $3.05bn | $2.74bn | $2.65bn |
| Operating income | $1.18bn | $1.32bn | $1.31bn | $1.48bn | $887.0m | $1.27bn | $793.0m | $1.18bn |
| Net income | $827.0m | $865.0m | $734.0m | $647.0m | $546.0m | $691.0m | $486.0m | $706.0m |
| Diluted earnings per share | 0.68 | 0.71 | 0.60 | 0.53 | 0.45 | 0.57 | 0.40 | 0.58 |
| Cash from operations | $1.38bn | $1.60bn | $1.58bn | $1.44bn | $1.45bn | $1.43bn | $1.22bn | $1.24bn |
| Capital spending | −$1.83bn | −$1.36bn | −$2.06bn | −$954.0m | −$972.0m | −$1.01bn | −$873.0m | −$682.0m |
| Free cash flow | −$458.0m | $244.0m | −$485.0m | $485.0m | $478.0m | $421.0m | $345.0m | $561.0m |
| Total assets | $60.61bn | $59.57bn | $58.57bn | $55.74bn | $56.14bn | $54.92bn | $54.53bn | $53.84bn |
| Cash and short-term investments | $203.0m | $950.0m | $63.0m | $70.0m | $903.0m | $100.0m | $60.0m | $762.0m |
| Debt | $30.79bn | $30.30bn | $29.39bn | $27.99bn | $28.57bn | $27.41bn | $26.94bn | $27.11bn |
| Shareholders' equity | $13.19bn | $12.99bn | $12.81bn | $12.52bn | $12.44bn | $12.49bn | $12.44bn | $12.43bn |
Financial ratios
Data as of 10 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 36.8% | 31.8% | 50.6% | 27.5% | 24.8% | 18.8% |
| Net margin | 21.9% | 21.2% | 29.1% | 18.7% | 14.3% | 2.7% |
| Return on equity | 20.4% | 17.9% | 25.6% | 17.8% | 13.3% | 1.8% |
| Return on assets | 4.5% | 4.1% | 6.0% | 4.2% | 3.2% | 0.5% |
| Free cash flow yield | 11.8% | 8.2% | 9.3% | 7.8% | 5.7% | 5.2% |
| Revenue growth | 13.8% | -3.7% | -0.5% | 3.2% | 37.7% | -5.9% |
| Earnings growth | 17.7% | -30.0% | 55.1% | 35.1% | 619.0% | -75.2% |
| Current ratio | 0.53x | 0.50x | 0.77x | 0.78x | 0.91x | 0.62x |
| Debt to equity | 2.30x | 2.17x | 2.13x | 2.00x | 2.07x | 1.90x |
| Equity ratio | 21.9% | 22.8% | 23.6% | 23.7% | 24.0% | 26.6% |
| Interest coverage | 3.05x | 2.45x | 4.46x | 2.63x | 2.23x | 1.24x |
| Buybacks as a share of market value | 0.2% | -0.1% | 0.1% | -0.5% | -0.1% | -0.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.9% | 9.1% | 5.0% |
| Operating income | 13.4% | 24.9% | 34.6% |
| Net income | 8.5% | 65.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 34.5% | 36.7% | 32.5% | 24.3% |
| Net margin | 21.6% | 22.7% | 18.8% | 13.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 28.1 | 29.8 | 13.4 | 19.6 | 20.9 | 115.7 | 33.9 | -172.2 | 11.6 | -55.1 |
| Price to sales | 6.2 | 6.3 | 3.9 | 3.7 | 3.0 | 3.2 | 3.5 | 3.1 | 3.1 | 3.1 |
Market value over time
31 Oct 2016 to 9 Sept 2026, in USD
$21.95bn$91.98bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 13% | 48% | 9% | 27% | 22% | -13% | 9% | -27% | -1% | 16% |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 11 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.575 | 2.00 | 1.90 | 1.79 | 1.70 | 1.64 | 1.60 | 1.52 |
- 2-for-1 split · 30 Dec 1997
- 3-for-2 split · 31 Dec 1996
- 2-for-1 split · 8 Nov 1993
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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