Williams Companies Inc
WMB—
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Williams Companies Inc AI Insights
Informational only. Not investment advice.Snapshot
- Operating margin 34.3% TTM vs industry median 27.1% - infrastructure moat generating 1.3x peer profitability on 11.5B revenue[Operating Margin TTM]
- Debt/equity 2.24x with 28B total debt consuming 1.4B interest TTM - 44% of operating income services debt[Debt to Equity]
- EPS growth 30% 1Y vs industry median -16% while gross profit grew 20% - margin expansion outpacing revenue[EPS Growth 1Y]
Watch Triggers
- Interest Expense TTM: Exceeds 1.6B (>40% of EBIT) — Currently 30% of EBIT - rising rates on 28B debt could compress earnings materially
- Free Cash Flow TTM: Falls below 1.5B or capex exceeds 4B — Dividend coverage already stretched at 101% payout - FCF decline forces cut
- Debt to Equity: Rises above 2.5x — Already elevated leverage - further increase signals balance sheet stress
Bull Case
60% gross margin with 40B PPE creates regulated infrastructure moat - natural gas demand secular tailwind from AI/data centers
Gross Margin TTMPPEOperating Margin TTM
ROIC 5.9% TTM at industry median despite heavy capex cycle - returns should expand as projects complete
ROIC TTMCapital Expenditure TTM
Bear Case
P/E 31.8x vs industry median 15x - premium valuation leaves no margin of safety if rates stay elevated
P/E RatioP/S RatioP/B Ratio
Negative working capital -3.1B and only 70M cash with 2.4B current debt due - refinancing risk in tight credit
Working CapitalCash and EquivalentsCurrent Debt
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
FCF constrained by 3.8B capex TTM limits dividend growth despite 5.5B operating cash flow
1-3yhigh
- Capex 33% of revenue vs 2.4% industry median
- FCF yield only 2.3% on 76B market cap
- Dividend payout 1.98/share near EPS of 1.95
FCF 1.7B TTM vs 5.5B operating CFCapex -3.8B TTM for pipeline expansionDividends consuming 101% of EPS
Valuation Context
Caveats
WMB Fundamentals
Transportation and Warehousing → Pipeline Transportation
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$87.63B | — | ||
$116.99B | — | ||
31 | — | ||
$11.93B | +10.7% | — | |
$2.28 | +35.2% | — | |
37.3% | +5.6% | — | |
23.4% | +2.2% | — | |
$722.0M | -64.4% | — | |
22.0% | +3.6% | — | |
Beta 5Y (Monthly) | unknown | — |
WMB Dividend History
106 dividends
2026
$1.050006/12/26$0.5250
03/13/26$0.5250
2025
$2.000012/12/25$0.5000
09/12/25$0.5000
06/13/25$0.5000
03/14/25$0.5000
2024
$1.900012/13/24$0.4750
09/13/24$0.4750
06/07/24$0.4750
03/07/24$0.4750
2023
$1.790012/07/23$0.4475
09/08/23$0.4475
06/09/23$0.4475
03/10/23$0.4475
2022
$1.700012/08/22$0.4250
09/08/22$0.4250
06/09/22$0.4250
03/10/22$0.4250
2021
$1.640012/09/21$0.4100
09/09/21$0.4100
06/10/21$0.4100
03/11/21$0.4100
2020
$1.600012/10/20$0.4000
09/10/20$0.4000
06/11/20$0.4000
03/12/20$0.4000
2019
$1.520012/12/19$0.3800
09/12/19$0.3800
06/06/19$0.3800
03/07/19$0.3800
2018
$1.360012/13/18$0.3400
09/06/18$0.3400
06/07/18$0.3400
03/08/18$0.3400
2017
$1.200012/07/17$0.3000
09/07/17$0.3000
06/07/17$0.3000
03/08/17$0.3000
2016
$1.680012/07/16$0.2000
09/07/16$0.2000
06/16/16$0.6400
03/10/16$0.6400
2015
$2.450012/09/15$0.6400
09/22/15$0.6400
06/10/15$0.5900
03/11/15$0.5800
2014
$1.957512/10/14$0.5700
09/10/14$0.5600
06/11/14$0.4250
03/12/14$0.4025
2013
$1.437512/11/13$0.3800
09/11/13$0.3663
06/05/13$0.3525
03/06/13$0.3387
2012
$1.196312/05/12$0.3250
08/22/12$0.3125
06/06/12$0.3000
03/07/12$0.2587
2011
$0.775012/07/11$0.2500
08/24/11$0.2000
06/08/11$0.2000
03/09/11$0.1250
2010
$0.485012/08/10$0.1250
08/25/10$0.1250
06/09/10$0.1250
03/10/10$0.1100
2009
$0.440012/09/09$0.1100
08/26/09$0.1100
06/10/09$0.1100
03/11/09$0.1100
2008
$0.430012/10/08$0.1100
08/20/08$0.1100
06/11/08$0.1100
03/12/08$0.1000
2007
$0.390012/12/07$0.1000
08/22/07$0.1000
05/23/07$0.1000
03/07/07$0.0900
2006
$0.345012/06/06$0.0900
08/23/06$0.0900
06/07/06$0.0900
03/08/06$0.0750
2005
$0.250012/07/05$0.0750
08/24/05$0.0750
06/08/05$0.0500
03/09/05$0.0500
2004
$0.080012/08/04$0.0500
08/25/04$0.0100
06/09/04$0.0100
03/10/04$0.0100
2003
$0.040012/10/03$0.0100
08/20/03$0.0100
06/11/03$0.0100
03/12/03$0.0100
2002
$0.420012/11/02$0.0100
08/21/02$0.0100
06/05/02$0.2000
03/13/02$0.2000
2001
$0.680012/12/01$0.2000
08/22/01$0.1800
06/06/01$0.1500
03/07/01$0.1500
2000
$0.600012/06/00$0.1500
08/23/00$0.1500
06/07/00$0.1500
03/08/00$0.1500
WMB Stock Splits
No stock splits
WMB SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/04/26 | 03/31/26 | 10-Q | |
02/24/26 | 12/31/25 | Unknown | |
11/03/25 | 09/30/25 | 10-Q | |
08/04/25 | 06/30/25 | 10-Q | |
05/05/25 | 03/31/25 | 10-Q | |
02/25/25 | 12/31/24 | 10-K | |
11/06/24 | 09/30/24 | 10-Q | |
08/05/24 | 06/30/24 | 10-Q | |
05/06/24 | 03/31/24 | 10-Q | |
02/21/24 | 12/31/23 | 10-K | |
11/01/23 | 09/30/23 | 10-Q | |
08/02/23 | 06/30/23 | 10-Q | |
05/03/23 | 03/31/23 | 10-Q | |
02/27/23 | 12/31/22 | 10-K | |
10/31/22 | 09/30/22 | 10-Q | |
08/01/22 | 06/30/22 | 10-Q | |
05/02/22 | 03/31/22 | 10-Q | |
02/28/22 | 12/31/21 | 10-K | |
11/01/21 | 09/30/21 | 10-Q | |
08/02/21 | 06/30/21 | 10-Q | |
05/03/21 | 03/31/21 | 10-Q | |
02/24/21 | 12/31/20 | 10-K | |
11/02/20 | 09/30/20 | 10-Q | |
08/03/20 | 06/30/20 | 10-Q | |
05/04/20 | 03/31/20 | 10-Q | |
02/24/20 | 12/31/19 | 10-K | |
10/31/19 | 09/30/19 | 10-Q | |
08/01/19 | 06/30/19 | 10-Q | |
05/02/19 | 03/31/19 | 10-Q | |
02/21/19 | 12/31/18 | 10-K | |
11/01/18 | 09/30/18 | 10-Q | |
08/02/18 | 06/30/18 | 10-Q | |
05/03/18 | 03/31/18 | 10-Q | |
02/22/18 | 12/31/17 | 10-K | |
11/02/17 | 09/30/17 | 10-Q | |
08/03/17 | 06/30/17 | 10-Q | |
05/04/17 | 03/31/17 | 10-Q | |
02/22/17 | 12/31/16 | 10-K | |
10/31/16 | 09/30/16 | 10-Q | |
08/02/16 | 06/30/16 | 10-Q | |
05/05/16 | 03/31/16 | 10-Q | |
02/26/16 | 12/31/15 | 10-K | |
10/29/15 | 09/30/15 | 10-Q | |
07/30/15 | 06/30/15 | 10-Q | |
04/30/15 | 03/31/15 | 10-Q | |
02/25/15 | 12/31/14 | 10-K | |
10/30/14 | 09/30/14 | 10-Q | |
07/31/14 | 06/30/14 | 10-Q | |
05/01/14 | 03/31/14 | 10-Q | |
02/26/14 | 12/31/13 | 10-K | |
10/31/13 | 09/30/13 | 10-Q | |
07/31/13 | 06/30/13 | 10-Q | |
05/08/13 | 03/31/13 | 10-Q | |
02/27/13 | 12/31/12 | 10-K | |
10/31/12 | 09/30/12 | 10-Q | |
08/02/12 | 06/30/12 | 10-Q | |
05/01/12 | 03/31/12 | 10-Q | |
02/28/12 | 12/31/11 | 10-K | |
11/02/11 | 09/30/11 | 10-Q | |
08/04/11 | 06/30/11 | 10-Q | |
05/05/11 | 03/31/11 | 10-Q | |
02/25/11 | 12/31/10 | 10-K | |
10/28/10 | 09/30/10 | 10-Q | |
07/29/10 | 06/30/10 | 10-Q | |
05/05/10 | 03/31/10 | 10-Q | |
02/26/10 | 12/31/09 | 10-K | |
10/29/09 | 09/30/09 | 10-Q | |
08/06/09 | 06/30/09 | 10-Q | |
04/30/09 | 03/31/09 | 10-Q | |
02/25/09 | 12/31/08 | 10-K | |
11/06/08 | 09/30/08 | 10-Q | |
08/07/08 | 06/30/08 | 4 | |
05/01/08 | 03/30/08 | Unknown | -- |
02/26/08 | 12/31/07 | 10-K | |
11/01/07 | 09/30/07 | 10-Q | |
08/07/07 | 06/30/07 | 10-Q | |
05/03/07 | 03/30/07 | Unknown | -- |
02/28/07 | 12/31/06 | 10-K | |
11/02/06 | 09/30/06 | 10-Q | |
08/03/06 | 06/30/06 | 10-Q | |
05/04/06 | 03/30/06 | Unknown | -- |
03/09/06 | 12/31/05 | 10-K | |
11/03/05 | 09/30/05 | 10-Q | |
08/04/05 | 06/30/05 | 10-Q | |
05/05/05 | 03/30/05 | Unknown | -- |
03/11/05 | 12/31/04 | 10-K | |
11/04/04 | 09/30/04 | 10-Q | |
08/05/04 | 06/30/04 | 10-Q | |
05/06/04 | 03/30/04 | Unknown | -- |
03/15/04 | 12/31/03 | 10-K | |
11/06/03 | 09/30/03 | 10-Q | |
08/12/03 | 06/30/03 | 8-K | |
05/13/03 | 03/30/03 | Unknown | -- |
03/19/03 | 12/31/02 | 8-K | |
11/14/02 | 09/30/02 | 4 | |
08/14/02 | 06/30/02 | 10-Q | |
05/09/02 | 03/30/02 | Unknown | -- |
03/07/02 | 12/31/01 | 10-K | |
11/13/01 | 09/30/01 | 10-Q | |
08/13/01 | 06/30/01 | 10-Q | |
05/15/01 | 03/31/01 | 8-K | |
03/12/01 | 12/31/00 | 10-K405 | |
11/14/00 | 09/30/00 | 10-Q | |
08/11/00 | 06/30/00 | 10-Q | |
05/15/00 | 03/30/00 | Unknown | -- |