Williams Companies (WMB): financials, SEC filings and peers
Williams Companies (WMB) is an oil & gas storage & transportation company in the Energy sector of the S&P 500, headquartered in Tulsa, Oklahoma.
It was founded in 1908 and joined the S&P 500 on March 31, 1975.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Natural Gas Transmission”.
Williams Companies at a glance
- Revenue (12 months)
- $12.2B
- Revenue growth
- +8.7%
- Operating margin
- 38.2%
- Net income (12 months)
- $3.1B
- Free cash flow (12 months)
- −$108M
- Cash
- $203M
- Debt
- $30.8B
- Diluted EPS (12 months)
- $2.51
Twelve months to June 30, 2026, from the 10-Q filed August 3, 2026.
Latest twelve months
Over the twelve months to June 30, 2026, Williams Companies reported revenue of $12.2 billion, up 8.7% from a year earlier.
Its operating margin was 38.2%, up 5.5 percentage points from a year earlier: for every $100 of sales, about $38 was left as operating profit.
Net income was $3.1 billion (25.2% of revenue), 26.5% higher than a year earlier.
Operating cash flow was $6.0 billion and capital spending $6.1 billion, leaving free cash flow of −$108 million (-0.9% of revenue). Capital spending equal to 50% of revenue is high; the company is investing heavily.
At the end of the period it held $203 million in cash and $30.8 billion in debt, a net debt position of $30.6 billion.
Five-year trend
- Revenue went from $7.7 billion in fiscal 2020 to $11.9 billion in fiscal 2025, about 9.1% a year.
- Operating margin widened from 28.5% to 35.1% over the same years.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $10.6B | $11.0B | $10.9B | $10.5B | $11.9B |
| Revenue growth | 37.7% | 3.2% | -0.5% | -3.7% | 13.8% |
| Operating margin | 24.8% | 27.5% | 39.5% | 31.8% | 35.1% |
| Net income | $1.5B | $2.0B | $3.2B | $2.2B | $2.6B |
| Free cash flow | $2.7B | $2.6B | $3.4B | $2.4B | $1.0B |
| Diluted EPS | $1.24 | $1.67 | $2.60 | $1.82 | $2.14 |
Fiscal years as reported in Williams Companies’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 8-K filed September 10, 2026 — Material agreement
- 8-K filed September 10, 2026 — Regulation FD disclosure; Other event
- 8-K filed September 3, 2026 — Other event
- 8-K filed August 21, 2026 — Executive or director change
- 10-Q filed August 3, 2026 — quarterly report
- 8-K filed August 3, 2026 — Earnings results
- 8-K filed July 13, 2026 — Regulation FD disclosure
- 8-K filed July 1, 2026 — Executive or director change; Regulation FD disclosure
Companies like Williams Companies
Other S&P 500 companies in Oil & Gas Storage & Transportation:
More from Energy
Questions about Williams Companies
Is Williams Companies's revenue growing?
Yes. Revenue for the twelve months to June 30, 2026 was $12.2 billion, up 8.7% from a year earlier, according to its SEC filings.
Is Williams Companies profitable?
Yes. It earned $3.1 billion in net income over the twelve months to June 30, 2026, a net margin of 25.2%.
Does Williams Companies have more cash or more debt?
At June 30, 2026 it had $203 million in cash and $30.8 billion in debt, so more debt than cash.
When did Williams Companies last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on August 3, 2026.
Which companies are similar to Williams Companies?
In the S&P 500, Williams Companies is grouped in Oil & Gas Storage & Transportation within the Energy sector. Kinder Morgan (KMI), Oneok (OKE), Targa Resources (TRGP) are in the same group.
Understand the numbers
Source: Williams Companies’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.