Sunday 1 November 2026 Export WMB’s income statement to Excel — free account

Williams Companies, Inc. (The)

Williams Companies, Inc. (The)’s revenue for fiscal 2025 (year ended December 2025) was $12.0 billion, up 13.8% from fiscal 2024.

Revenue: +9.78%
EPS: +51.1%
Free cash flow: −195.8%
Total debt: +6.11%

Quarter to June 2026, against a year earlier

74.35 0.53 −0.71%

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Market cap: $91.6B
P/E: 29.5×
Fwd P/E: 29.8×
Dividend yield: 2.79%
F-score: 7/9
Altman Z: 1.10
Beneish M: −2.65
Dividend safety: 18/100

Overview Business Profile Earnings & Analysis Segments Filings

Williams Companies, Inc. (The) (WMB) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2017: revenue by segment, and margins
West	4,259	53.03%
Atlantic Gulf	2,723	33.91%
Northeast G & P	1,163	14.48%
Corporate Segment and Other Operating Segment	404	5.03%
Gross margin		71.36%
Operating margin		11.54%
Pre-tax margin		6.66%

Revenue by product or service $m

Line	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010
Regulated Service	2,846 37.19%	2,780 34.15%	2,362 27.45%	—	—	—	—	—	—	—	—
NonRegulated Service Monetary Consideration	2,756 36.01%	2,884 35.43%	2,921 33.95%	—	—	—	—	—	—	—	—
Other Service	253 3.31%	210 2.58%	144 1.67%	—	—	—	—	—	—	—	—
NonRegulated Service Commodity Consideration	129 1.69%	203 2.49%	400 4.65%	0 0.00%	—	—	—	—	—	—	—
Energy Commodities and Service	(5) (0.07%)	2 0.02%	—	—	—	—	—	—	—	—	—
NGL And Natural Gas Product Sales	—	—	2,760 32.08%	—	—	—	—	—	—	—	—
Other Product Sales	—	—	17 0.20%	—	—	—	—	—	—	—	—
Product	—	—	2,777	—	—	—	—	—	—	—	—
Service	5,984	6,077	5,827	—	—	—	—	—	—	—	—
Revenue	7,653	8,140	8,604	8,031	7,499	7,360	7,637	6,860	7,486	7,930	6,638

Gross profit by product or service $m, and margin

	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010
Oil and Gas, Purchased	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by segment $m

Line	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
Gas & NGL Marketing Services	4,211 32.94%	1,631 21.31%	—	—	—	—	—	—	—	—	—	—	—	—
Transmission And Gulf Of Mexico	3,786 29.62%	3,469 45.33%	3,640 44.72%	3,447 40.06%	—	—	—	—	—	—	—	—	—	—
West	2,026 15.85%	1,523 19.90%	3,311 40.68%	4,410 51.26%	4,259 53.03%	3,708 49.45%	—	—	—	—	—	—	—	—
Northeast G & P	1,634 12.78%	1,529 19.98%	1,500 18.43%	1,283 14.91%	1,163 14.48%	1,032 13.76%	—	—	—	—	—	—	—	—
Corporate Segment and Other Operating Segment	345 2.70%	34 0.44%	30 0.37%	34 0.40%	404 5.03%	847 11.29%	121 1.64%	259 3.39%	36 0.52%	27 0.36%	25 0.32%	24 0.36%	27 0.51%	—
Sequent	—	—	0 0.00%	—	—	—	—	—	—	—	—	—	—	—
Atlantic Gulf	—	—	—	—	2,723 33.91%	2,448 32.64%	—	—	—	—	—	—	—	—
Williams Partners	—	—	—	—	—	—	7,331 99.61%	7,409 97.01%	6,835 99.64%	7,471 99.80%	7,714 97.28%	6,459 97.30%	4,602 87.19%	5,847 49.18%
Williams Ngl And Petchem Services	—	—	—	—	—	—	—	0 0.00%	0 0.00%	0 0.00%	341 4.30%	238 3.59%	—	—
Access Midstream Partners	—	—	—	—	—	—	—	—	—	0 0.00%	0 0.00%	0 0.00%	—	—
Intersegment Eliminations	—	—	—	—	—	—	—	—	—	—	—	(83) (1.25%)	(104) (1.97%)	—
Midstream Canada And Olefins	—	—	—	—	—	—	—	—	—	—	—	—	753 14.27%	—
Exploration Production	—	—	—	—	—	—	—	—	—	—	—	—	—	6,195 52.10%
Others	—	—	—	—	—	—	—	—	—	—	—	—	—	1,257 10.57%
Business Intersegment, Eliminations [Member] (Deprecated 2012-01-31)	—	—	—	—	—	—	—	—	—	—	—	—	—	(1,409) (11.85%)
Other, not broken out	782 6.12%	—	—	—	—	—	—	—	—	—	—	—	—	—
Eliminations	—	(533) (6.96%)	(341) (4.19%)	(570) (6.62%)	(518) (6.45%)	(536) (7.15%)	(92) (1.25%)	—	—	—	(150) (1.89%)	—	—	—
Revenue	12,784	7,653	8,140	8,604	8,031	7,499	7,360	7,637	6,860	7,486	7,930	6,638	5,278	11,890

Operating income by segment $m, and margin

	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
Williams Partners	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Access Midstream Partners	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate Segment and Other Operating Segment	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Williams Ngl And Petchem Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating Segments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Intersegment Eliminations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Midstream Canada And Olefins	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Unallocated Amount to Segment [Member] (Deprecated 2013-01-31)	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
General Corporate Expense	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011
United States	8,030 99.99%	7,425 99.01%	7,247 98.46%	7,229 94.66%	6,703 97.71%	7,335 97.98%	7,728 97.45%
California	1 0.01%	74 0.99%	113 1.54%	408 5.34%	157 2.29%	151 2.02%	202 2.55%
Revenue	8,031	7,499	7,360	7,637	6,860	7,486	7,930

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Avg. daily firm reserved capacity	Q2 FY2026	8.00	8.00	0.00%
Avg. daily firm reserved capacity	Q2 FY2026	20.60	20.60	0.00%
Avg. daily firm reserved capacity	Q2 FY2026	1.40	1.40	0.00%
Avg. daily firm reserved capacity	Q2 FY2026	4.00	3.70	+8.11%
Avg. daily transportation volumes	Q2 FY2026	3.00	3.10	−3.23%
Avg. daily transportation volumes	Q2 FY2026	1.30	1.30	0.00%
Avg. daily transportation volumes	Q2 FY2026	2.00	2.40	−16.67%
Avg. daily transportation volumes	Q2 FY2026	14.10	14.00	+0.71%
Crude oil transportation volumes	Q2 FY2026	237.00	196.00	+20.92%
Gathering volumes	Q2 FY2026	4.16	4.15	+0.24%
Gathering volumes	Q2 FY2026	0.73	0.68	+7.35%
Gathering volumes	Q2 FY2026	6.80	6.72	+1.19%
NGL equity sales	Q4 FY2025	1.00	—	—
NGL equity sales	Q2 FY2026	9.00	15.00	−40.00%
NGL production	Q2 FY2026	166.00	138.00	+20.29%
NGL production	Q2 FY2026	73.00	76.00	−3.95%
Plant inlet natural gas volumes	Q2 FY2026	2.04	1.89	+7.94%
Plant inlet natural gas volumes	Q2 FY2026	1.12	1.13	−0.88%
Plant inlet natural gas volumes	Q2 FY2026	0.78	0.89	−12.36%
Remaining performance obligations	Q2 FY2026	$30.7B	$32.1B	−4.13%

	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020
Avg. daily firm reserved capacity	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Avg. daily firm reserved capacity	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Avg. daily firm reserved capacity	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Avg. daily firm reserved capacity	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Avg. daily transportation volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Avg. daily transportation volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Avg. daily transportation volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Avg. daily transportation volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Crude oil transportation volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gathering volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gathering volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gathering volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL equity sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL equity sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL production	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL production	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Plant inlet natural gas volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Plant inlet natural gas volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Plant inlet natural gas volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.