YouTube · Q2 2026 · 2026-07-25
WMB · NYSE
The Williams Companies, Inc.
Oil & Gas Midstream · United States
USD 70.62-0.3% daily changeQuote 2026-10-06 · USD
- Market cap (USD)
- US$86.38B
- Trailing P/E
- 28.14x
- Forward P/E
- 26.69x
- Quarterly revenue growth
- 7.8%
- Trailing net margin
- 24.9%
- Indicated dividend yield
- 3.0%
Snapshot 2026-10-06 · Latest financial period 2026-06-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2026-11-02 (provider estimate, not issuer-confirmed).
Company background
The Williams Companies, Inc., together with its subsidiaries, operates as an energy infrastructure company primarily in the United States. It operates through Transmission, Power & Gulf, Northeast G&P, West, and Gas & NGL Marketing Services segments. The Transmission, Power & Gulf segment comprises Transco, NWP, and Mountain West interstate natural gas pipelines, and their related natural gas storage facilities, as well as natural gas gathering and processing; and crude oil production handling and transportation assets in the Gulf Coast region. The Northeast G&P segment engages in the midstream gathering, processing, and fractionation activities in the Marcellus Shale region primarily in Pennsylvania and New York, and the Utica Shale region of eastern Ohio. The West segment consists of gas gathering, processing, and treating operations in the Rocky Mountain region of Colorado and Wyoming, the Barnett Shale region of north-central Texas, the Eagle Ford Shale region of South Texas, the Haynesville Shale region of northwest Louisiana, the Mid-Continent region that includes the Anadarko and Permian basins, and the DJ Basin of Colorado; and operates natural gas liquid (NGL) fractionation and storage assets in central Kansas near Conway. The Gas & NGL Marketing Services segment provides wholesale marketing, trading, storage, and transportation of natural gas for natural gas utilities, municipalities, power generators, and producers; asset management services; and transports and markets NGLs. The company owns and operates approximately 32,000 miles of pipelines. The Williams Companies, Inc. was founded in 1908 and is headquartered in Tulsa, Oklahoma.
Company websiteQ2 2026
Go beyond the headline.
Williams (WMB): The $0.68 Headline Is 26% Air - And We Sit Below Every Analyst
Published 2026-08-07
Comparable businesses
WMB peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | WMBThe Williams Companies, Inc.Snapshot 2026-10-06Financial period: 2026-06-30 | KMIKinder Morgan, Inc.Snapshot 2026-10-06Financial period: 2026-06-30 | MPLXMPLX LPSnapshot 2026-10-06Financial period: 2026-06-30 | Peer medianSimilar-size peers only |
|---|---|---|---|---|
| Market capMarket value, converted to USD | US$86.38B | US$69.74B | US$57.75B | US$63.75Bn=2 |
| Forward P/EProvider forward earnings estimate | 26.69x | 20.28x | 11.82x | 16.05xn=2 |
| EV / EBITDAEnterprise value / trailing EBITDA | 16.98x | 13.56x | 13.66x | 13.61xn=2 |
| Revenue growthLatest quarter vs prior-year quarter | 7.8% | 10.8% | 10.6% | 10.7%n=2 |
| Operating marginLatest reported quarter | 39.5% | 30.1% | 38.2% | 34.2%n=2 |
| Free cash flow yieldTrailing cash flow / market cap | -1.8% | 1.5% | 2.4% | 2.0%n=2 |
| Net debt / EBITDANet debt / trailing EBITDA | 4.35x | 4.23x | 4.11x | 4.17xn=2 |
| Debt / equityTotal debt / positive book equity | 2.00x | 0.99x | 1.83x | 1.41xn=2 |
| Trailing P/ETrailing twelve-month earnings | 28.14x | 20.21x | 12.25x | 16.23xn=2 |
| Price / bookPrice / positive book equity per share | 6.57x | 2.20x | 4.12x | 3.16xn=2 |
| EV / salesEnterprise value / trailing revenue | 9.69x | 5.76x | 6.94x | 6.35xn=2 |
| Earnings growthLatest quarter vs prior-year quarter | 51.2% | 21.2% | 3.2% | 12.2%n=2 |
| Gross marginTrailing twelve months | 63.6% | 49.4% | 55.7% | 52.6%n=2 |
| Net marginTrailing twelve months | 24.9% | 19.3% | 39.3% | 29.3%n=2 |
| Return on equityProvider trailing return; positive equity only | 21.5% | 11.0% | 33.7% | 22.3%n=2 |
| Free cash flow marginTrailing free cash flow / revenue | -12.3% | 6.0% | 11.4% | 8.7%n=2 |
| Dividend yieldIndicated annual dividend / price | 3.0% | 3.8% | 7.6% | 5.7%n=2 |
| Earnings payoutProvider trailing dividend payout | 81.7% | 75.8% | 90.0% | 82.9%n=2 |
| Current ratioCurrent assets / current liabilities | 0.48x | 0.46x | 0.89x | 0.68xn=2 |
| BetaProvider historical market sensitivity | 0.66 | 0.58 | 0.48 | 0.53n=2 |
YouTube · Q2 2026 · 2026-07-25
YouTube · Q2 2026 · 2026-08-08
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
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Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
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Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-10-06. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for WMB
Q2 20262026-08-07
Williams (WMB): The $0.68 Headline Is 26% Air - And We Sit Below Every Analyst
Presentation · 2026-08-07 · YouTube
Q1 20262026-05-09
WMB Stock: EPS Beats by 16% — Q1 2026 Earnings Analysis
Presentation · 2026-05-09 · YouTube