10x Insights
Loading account…
Companies / Energy / Williams Companies
WMB

Williams Companies

EnergyElectric, Gas & WaterS&P 500
Ticker WMBTULSA, OKFiscal year ends DecemberBook value per share $10.77Diluted shares 1.2B

The Williams Companies, Inc. (NYSE: WMB) gathers, processes, transports, stores and markets natural gas and natural gas liquids, serving producers, utilities, power generators, municipalities, industrial users and energy and petrochemical customers. Its operations span 11 supply areas and include more than 32,000… From the company’s description.

In fiscal 2025, Williams Companies reported revenue of $11.95B, up 13.8% from fiscal 2024, and net income of $2.77B. Its operating margin was 35.1%, and operations generated $5.90B in cash. Over the twelve months to Jun 30, 2026, revenue was $12.20B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$11.95BFY2025
+13.8% year over year
Last 12 mo $12.20B
35.11%FY2025
+3.3 percentage points
Last 12 mo 38.18%
$2.77BFY2025
+18.0% year over year
Last 12 mo $3.24B
21.71%FY2025
+3.8 percentage points
Cash & financing
$5.90BFY2025
+18.6% year over year
Last 12 mo $5.99B
$1.00BFY2025
−58.1% year over year
Last 12 mo $-108.00M
2.30FY2025
Was 2.16× a year earlier
Last 12 mo 2.34
1.2BFY2025
+0.2% year over year

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Williams Companies does

In the company’s own words

The Williams Companies, Inc. (NYSE: WMB) gathers, processes, transports, stores and markets natural gas and natural gas liquids, serving producers, utilities, power generators, municipalities, industrial users and energy and petrochemical customers. Its operations span 11 supply areas and include more than 32,000 miles of pipelines across 24 states and the Gulf of America, 35 natural gas processing facilities, nine NGL fractionation facilities, and natural gas and NGL storage assets. Williams reports four segments: Transmission, Power & Gulf; Northeast G&P; West; and Gas & NGL Marketing Services; upstream and corporate activities are included in Other. Its businesses provide wellhead gathering and processing, interstate pipeline transportation and storage, NGL fractionation and transportation, and gas and NGL marketing. Major pipeline systems include Transco, which runs from the Gulf Coast to the New York metropolitan area, and Northwest Pipeline, serving western states and extending to the Canadian border. In 2025, Williams served approximately 800 customers. It was founded in 1908 and completed the acquisition of MountainWest Pipelines in 2023, adding interstate pipeline and storage assets.

Company details
Sector
Energy
Industry (SIC)
Electric, Gas & Water
Headquarters
TULSA, OK
Fiscal year end
December
CIK
107263
SIC
4922

Financial performance, year by year

Fiscal 2013–2025 · USD
$-2.67B$1.39B$5.44B$9.50B$13.56B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Williams Companies — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

1.0K
funds hold it
0 of 35
superinvestors hold it
$30.99B
held by funds, at market
34.2%
of shares held by funds
34
bond issues held by funds

Largest fund holders · Williams Companies’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.13%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.14%of fund net assets
5.03%of fund net assets
iShares Core S&P 500 ETF
IVV · iShares Trust
0.14%of fund net assets
Fidelity 500 Index Fund
FXAIX · Fidelity Concord Street Trust
0.13%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Williams Companies’s bonds, as funds hold them

Funds report holding 34 issues of Williams Companies’s debt, $4.54B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.94%, maturing 2027 to 2056.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Williams Companies and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Williams Companies's earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Williams Companies's last four quarterly filings that the numbers alone won't show?”
See how it works →All research tools with a subscription. Use your own AI account.