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Williams Companies, Inc. (WMB)

Williams owns and operates natural gas infrastructure: gathering and processing, long-distance transmission, storage, the fractionation, transport and storage of natural gas liquids, and marketing. It has operations in 11 supply areas serving approximately 800 customers. It owns an interest in and operates over 32,000 miles of pipeline across 24 states and the Gulf of America, 35 natural gas processing plants, 9 natural gas liquids fractionation plants, approximately 23 million barrels of liquids storage and 423 Bcf of natural gas storage. The company was founded in 1908, first incorporated in Nevada in 1949 and reincorporated in Delaware in 1987, and is headquartered in Tulsa, Oklahoma with other major offices in Houston, Pittsburgh and Salt Lake City. All of its operations are in the United States. There are four reportable segments: Transmission, Power and Gulf; Northeast G&P; West; and Gas & NGL Marketing Services, with upstream operations and corporate activities reported in Other. This filing also covers two wholly owned pipeline subsidiaries as separate registrants.

Williams Companies, Inc.

Williams owns and operates natural gas infrastructure: gathering and processing, long-distance transmission, storage, the fractionation, transport and storage of natural gas liquids, and marketing. It has operations in 11 supply areas serving approximately 800 customers. It owns an interest in and operates over 32,000 miles of pipeline across 24 states and the Gulf of America, 35 natural gas processing plants, 9 natural gas liquids fractionation plants, approximately 23 million barrels of liquids storage and 423 Bcf of natural gas storage. The company was founded in 1908, first incorporated in Nevada in 1949 and reincorporated in Delaware in 1987, and is headquartered in Tulsa, Oklahoma with other major offices in Houston, Pittsburgh and Salt Lake City. All of its operations are in the United States. There are four reportable segments: Transmission, Power and Gulf; Northeast G&P; West; and Gas & NGL Marketing Services, with upstream operations and corporate activities reported in Other. This filing also covers two wholly owned pipeline subsidiaries as separate registrants.

Transco

Transcontinental Gas Pipe Line Company runs an approximately 9,600-mile pipeline from Texas, Louisiana, Mississippi and the Gulf of America through Alabama, Georgia, South Carolina, North Carolina, Virginia, Maryland, Delaware, Pennsylvania and New Jersey to the New York City area, serving customers in Texas and twelve southeastern and Atlantic seaboard states, including the large cities of Georgia, Washington D.C., Maryland, North Carolina, New York, New Jersey and Pennsylvania. Its principal business is the interstate transportation of natural gas, regulated by the FERC.

Northwest Pipeline

Northwest Pipeline runs an approximately 3,900-mile system from the San Juan basin in north-western New Mexico and south-western Colorado through Colorado, Utah, Wyoming, Idaho, Oregon and Washington to the Canadian border near Sumas, Washington, serving customers in ten western states either directly or through interconnections with other pipelines. Its principal business is also interstate gas transportation under FERC jurisdiction.

Gathering, processing and liquids

The Northeast G&P business includes a 43 Mbbls/d liquids fractionation plant at Moundsville, West Virginia, condensate stabilisation capable of approximately 17 Mbbls/d, a de-ethanisation unit at the Oak Grove processing plant able to take up to approximately 80 Mbbls/d of mixed liquids and pull out up to approximately 40 Mbbls/d of ethane, an ethane pipeline and a liquids pipeline. In Harrison County, Ohio the company owns a 135 Mbbls/d fractionation plant, approximately 970,000 barrels of liquids storage and 44 Mbbls/d of condensate stabilisation, plus loading and terminal facilities in Harrison, Carroll and Columbiana Counties.

Marketing

The marketing business sells natural gas and natural gas liquids to users in the energy and petrochemical industries, and provides gas asset management, wholesale marketing, trading, storage and transportation for gas and electric utilities, municipalities, power generators and producers, including for Williams' own upstream properties. It also moves and optimises gas through transportation and storage agreements on its own assets. Concentration differs between the two commodities: in 2025 the three largest gas marketing customers were approximately 8 percent of gross gas marketing sales, while the three largest liquids customers were approximately 42 percent of liquids marketing sales. In March 2025 Williams bought a minority interest in Cogentrix for $153 million, held as an equity-method investment in this segment; Cogentrix owns interests in 11 natural gas power plants.

Regulation and what moves the business

The interstate transmission and storage activities are regulated by the FERC under the Natural Gas Act and the Natural Gas Policy Act, covering rates and charges, accounting, and the extension, enlargement or abandonment of jurisdictional facilities, and each pipeline company holds certificates of public convenience and necessity. Standards of conduct require the pipelines to treat affiliated and non-affiliated transmission customers on a not unduly discriminatory basis and keep transmission staff functioning independently of marketing staff; the FERC can impose civil penalties of more than $1.5 million a day per violation. The filing names the key variables for the business as obstacles to construction and expansion, including permit delays or denials and opposition to hydrocarbon energy development, producer drilling activity feeding gathering and processing volumes, and keeping customers by providing reliable service.

People

Williams had 5,987 full-time employees across the United States at 1 February 2026, and 6.3 percent of employees left voluntarily during 2025. Transco and Northwest Pipeline have no employees of their own; Williams provides their operations, management and certain administrative services.

From Williams' annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Williams Companies became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 2 November 2026
Revenue
$3.2 billion
+10.3% on the year · +5.6% on the quarter
Q4 FY2024Q3 FY2026
Net income
$700 million
+8.2% on the year · -15.4% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.56
+5.7% on the year · -17.6% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 24 February 2026
Revenue
$11.9 billion
+13.8% on the year
FY2018FY2025
Net income
$2.6 billion
+17.7% on the year
FY2018FY2025
Diluted EPS
$2.14
+17.6% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsWilliams Companies (WMB) reported revenue of $11.9 billion for fiscal 2025, the year ended 31 December 2025, up 13.8% on the year before. Net income was $2.6 billion and diluted earnings per share $2.14. Revenue was $10.5 billion in fiscal 2024, $10.9 billion in fiscal 2023, $11.0 billion in fiscal 2022 and $10.6 billion in fiscal 2021. Net income in the same years was $2.2 billion, $3.2 billion, $2.0 billion and $1.5 billion. Over the twelve months to 30 September 2026, Williams Companies reported revenue of $12.5 billion and net income of $3.1 billion. Revenue grew 9.1% a year, compounded, over the five years to fiscal 2025. Williams Companies declared $2.08 a share in dividends over the last four quarters and had 1.25 billion shares outstanding at the latest filed count. At the close of 6 November 2026 the market cap of Williams Companies was $80.1 billion, 25.2 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE19.9%
ROCE9.9%
Operating margin37.5%
Net margin25.0%
FCF margin-12.6%
Interest cover3.1x
Debt to equity2.02x
Cash conversion1.94x
Share count, last 12 months2.4%
Sales CAGR, 3 years2.9%
Profit CAGR, 3 years8.5%
EPS, TTM$2.54

At the close of 6 November 2026

Price$64.09
Market cap$80.1 billion
Stock P/E25.2x
Price to book5.1x
EV / EBITDA15.6x
Dividend yield3.2%
Market cap / sales6.4x
52-week high$79.40
52-week low$57.94
Price, 1 year10.6%
Price CAGR, 3 years22.0%
Price CAGR, 5 years17.5%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the one borrowings figure Williams Companies, Inc. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.
WMBgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue3,2572,5242,4903,0212,9303,0812,4832,5592,7842,7712,3362,6532,7433,0482,7812,9233,1983,0303,0533,223
SG&A169154160163159176161146182186164170188194168168n/an/an/an/a
Operating income9376544728201,0721,3608709941,0871,0126968387931,0949451,1091,0481,3211,1821,136
Operating margin29%26%19%27%37%44%35%39%39%37%30%32%29%36%34%38%33%44%39%35%
Interest expense295286281291289294306314322349339338338349350372371376371385
Pre-tax income8305103627179531,2417568611,5478555559686089227579291,0171,1561,136988
Tax rate24%23%-12%13%27%23%23%20%24%23%23%23%15%21%23%26%24%21%23%22%
Net income6223804006006699274606541,138632401706486691546647734865827700
Net margin19%15%16%20%23%30%19%26%41%23%17%27%18%23%20%22%23%29%27%22%
Diluted EPS$0.51$0.31$0.33$0.49$0.54$0.76$0.38$0.54$0.92$0.52$0.33$0.58$0.39$0.56$0.45$0.53$0.60$0.70$0.68$0.56
Operating cash flow1,1391,0821,0981,4901,2191,5141,3771,2341,8131,2341,2791,2431,2181,4331,4501,4391,5761,6031,3761,505
Capital expenditure2822913158418065456106906715445796827681,0129729541,9551,3591,8342,489
Free cash flow8577917836494139697675441,142690700561450421478485-379244-458-984
Buybacksn/a0.00.09.00.074.056.00.00.00.00.00.00.0n/an/an/an/an/an/an/a
Dividends paid498518517518518546545544544579579579579610611611610642642656
Shares outstanding1,216m1,218m1,219m1,218m1,219m1,218m1,216m1,216m1,217m1,219m1,219m1,219m1,219m1,221m1,221m1,221m1,222m1,223m1,223m1,250m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2007FY2008 †FY2009 †FY2010 †FY2011 †FY2012FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024FY2025TTM
Revenue10,23911,8515,2786,6387,9307,4866,8607,6377,3607,4998,0318,6868,2017,71910,62710,96510,90710,50311,95012,504
Cost of revenuen/an/an/a3,2603,9343,496n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Gross profitn/an/an/a3,3783,9963,990n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Gross marginn/an/an/a50.9%50.4%53.3%n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Selling, general and administrative461498330504477571512661736723594569558466558636665708n/an/a
Operating income1,7872,6811,1061,4071,8671,6121,3751,5692276899277681,9212,2022,6313,0184,3113,3394,1964,687
Operating margin17.5%22.6%21.0%21.2%23.5%21.5%20.0%20.5%3.1%9.2%11.5%8.8%23.4%28.5%24.8%27.5%39.5%31.8%35.1%37.5%
Interest expensen/a592592614599n/a5107471,0441,1791,0831,1121,1861,1721,1791,1471,2361,3641,4421,503
Pre-tax incomen/an/a5503851,2021,2891,0803,584-1,713-3755353311,0642772,0732,5424,4052,9863,6254,297
Income tax4907332041141243604011,249-399-25.0-1,97413833579.05114251,005640857969
Effective tax raten/an/a37.1%29.6%10.3%27.9%37.1%34.8%n/an/a-369.0%41.7%31.5%28.5%24.7%16.7%22.8%21.4%23.6%22.6%
Net income9901,418285-1,0973768594302,114-571-4242,174-1558502111,5172,0493,1792,2252,6183,126
Net margin9.7%12.0%5.4%-16.5%4.7%11.5%6.3%27.7%-7.8%-5.7%27.1%-1.8%10.4%2.7%14.3%18.7%29.1%21.2%21.9%25.0%
Diluted EPS$1.63$2.40$0.49-$1.88$0.63$1.37$0.62$2.92-$0.76-$0.57$2.62-$0.16$0.70$0.17$1.24$1.67$2.60$1.82$2.14$2.54
Filing10-K8-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service FY2010 to FY2025

FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Service2,3592,5322,7292,9394,1165,1645,1715,3125,5025,9335,9246,0016,5367,0267,6288,34869.9%
Product4,2795,3984,7573,9213,5212,1962,3282,7192,7842,0631,6714,5364,5562,7792,9913,29027.5%
NonRegulated Service Commodity Considerationn/an/an/an/an/an/an/a04002031292382601461341921.6%
Energy Commodities and Servicen/an/an/an/an/an/an/an/an/a2-5-148-387956-2501201.0%
ServiceProductNonRegulated Service Commodity Consideration FY2018 to FY2025Energy Commodities and Service FY2019 to FY2025
7.9FY20116.9FY20137.4FY20158.0FY20178.2FY201910.8FY202110.9FY202311.9FY2025

$ billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Energy Commodities and Service is below zero in FY2020, FY2021, FY2022 and FY2024 as the 10-K filed it, so it has no share or block for those years.

Cash flow

FY2007FY2008 †FY2009 †FY2010 †FY2011 †FY2012FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024FY2025TTM
Operating cash flow2,2373,3552,5722,6513,4391,8352,2172,1343,1144,1553,0893,2933,6933,4963,9454,8895,9384,9745,8986,060
Capital expendituren/a3,3942,3872,7882,7962,5293,5724,0313,1672,0512,3993,2562,1091,2391,2392,2532,5162,5734,8937,637
Free cash flown/a-39.0185-137643-694-1,355-1,897-53.02,10469037.01,5842,2572,7062,6363,4222,4011,005-1,577
Free cash flow marginn/a-0.3%3.5%-2.1%8.1%-9.3%-19.8%-24.8%-0.7%28.1%8.6%0.4%19.3%29.2%25.5%24.0%31.4%22.9%8.4%-12.6%
Cash from investing-2,296-3,183-2,310-4,296-3,003-6,921-4,052-10,157-3,705-891100-2,725-2,827-1,558-1,465-3,375-3,891-4,863-5,489-10,285
Cash from financing-511-432166573-3425,0361,6777,582451-3,194-2,460-1,299-745-2,085-942-3,042-49.0-2,201-4065,911
Depreciation and amortisation1,0821,3101,4691,5076617568151,1761,7381,7631,7361,7251,7141,7211,8422,0092,0712,2192,3472,389
Share-based compensationn/a31.043.048.052.036.037.053.082.073.078.055.057.052.081.073.077.099.093.088.0
Buybacks-5264740.0n/an/an/an/an/an/an/an/an/an/an/a0.09.01300.00.0n/a
Dividends paid-2332502562844577429821,4121,8361,2619921,3861,8421,9411,9922,0712,1792,3162,4422,550
Dividend per share$0.39$0.43$0.44$0.48$0.78$1.20$1.44$1.96$2.45$1.68$1.20$1.36$1.52$1.60$1.64$1.70$1.79$1.90$2.00n/a
Diluted shares, weighted610m593m589m585m598m625m687m724m749m751m829m974m1,214m1,215m1,218m1,223m1,223m1,223m1,225m1,239m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a1,250m
Filing10-K8-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2007FY2008 †FY2009 †FY2010 †FY2011 †FY2012FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024FY2025TTM
Funded by
Shareholders' equity7,8058,4408,4476,8031,2964,7524,8648,7776,1484,6439,65614,66013,36311,76911,42311,48512,40212,43612,80715,733
Non-controlling interestn/a6145721,3311,2902,6754,05711,39510,0779,4036,5191,3373,0012,8142,6782,5602,4892,4042,1885,761
Debtn/a7,6838,2598,6008,72210,73511,57921,58224,48723,50220,93522,36722,28822,34423,67522,90426,43826,45628,66131,732
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/an/a188161141148148142151n/a
Other liabilitiesn/a9,2698,0028,2385,1946,1656,6428,7018,3089,2879,2426,9387,2007,0779,69511,33611,15013,09414,76617,454
Total liabilities and equityn/a26,00625,28024,97216,50224,32727,14250,45549,02046,83546,35245,30246,04044,16547,61248,43352,62754,53258,57370,680
Owned
Fixed assetsn/a17,74118,58211,75412,58015,46718,21028,08129,57928,42828,21127,50429,20028,92929,25830,88934,31138,69241,99652,531
Goodwilln/a1,0111,0118.00.06496461,12047.0n/a47.00.0188n/a0.00.0463466466n/a
Intangible assetsn/an/an/an/a44.01,7041,64410,4539,970n/an/an/an/an/an/an/an/an/an/an/a
Investmentsn/a9718861,2401,3913,987n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Cash and equivalents1,6991,4391,8677588898396812401001708991682891421,6801522,15060.063.01,756
Receivablesn/an/an/an/an/a6886741,1391,0419389769929969991,9782,7231,6551,8632,0842,098
Inventoryn/a260221225169175194231127138113130125136379320274279314319
Other assetsn/a4,5842,71310,9871,4298185,0939,1918,15617,16116,10616,50815,24213,95914,31714,34913,77413,17213,65013,976
Total assetsn/a26,00625,28024,97216,50224,32727,14250,45549,02046,83546,35245,30246,04044,16547,61248,43352,62754,53258,57370,680
Filing10-K8-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded5.0%9.1%2.9%8.8%
Profit growth, compoundedn/a65.5%8.5%31.9%
Return on equity, average11.6%19.0%21.3%20.4%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Williams Companies' revenue in fiscal 2025?

Williams Companies (WMB) reported revenue of $11.9 billion for fiscal 2025, the year ended 31 December 2025, up 13.8% on the year before.

How much did Williams Companies earn in fiscal 2025?

Net income was $2.6 billion for fiscal 2025, and diluted earnings per share $2.14.

What is Williams Companies' P/E ratio?

At the close of 6 November 2026, Williams Companies traded at 25.2 times its earnings over the twelve months to 30 September 2026.

What is Williams Companies' market cap?

The market cap of Williams Companies was $80.1 billion at the close of 6 November 2026.

Does Williams Companies pay a dividend?

Yes. Williams Companies declared $2.08 a share in dividends over the four quarters to 30 September 2026.

Peers: Utilities

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
National Grid plc NGG *$86.4 billion19.038.2%30.7%-3.8%1.192.5%
Williams Companies, Inc. WMB$80.1 billion25.2319.9%37.5%8.8%2.023.2%
Enterprise Products Partners L.P. EPD$79.8 billion12.26n/a12.7%21.5%n/an/a
Kinder Morgan, Inc. KMI$66.7 billion18.4911.4%29.0%11.7%1.053.9%
TC Energy Corporation TRP *$64.5 billion26.4412.9%52.7%10.7%2.203.9%
Targa Resources Corp. TRGP$56.7 billion23.4164.1%22.5%4.7%5.201.7%
Western Midstream Partners, LP WES$16.5 billion12.91n/a38.5%22.3%n/an/a
DT Midstream, Inc. DTM$11.6 billion24.759.8%49.4%13.4%0.683.0%
Antero Midstream Corp. AM$9.0 billion13.3730.5%81.3%7.3%1.424.7%
Kinetik Holdings Inc. KNTK$7.9 billion16.31n/a12.2%15.8%n/a6.6%
Archrock, Inc. AROC$4.8 billion14.2021.4%n/a3.7%1.473.2%
Kodiak Gas Services, Inc. KGS$4.2 billion49.563.7%27.4%8.2%1.264.6%
All 96 in Utilities
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
NextEra Energy Inc. NEE$182.3 billion15.6718.9%30.0%9.6%1.852.8%
Southern Co. SO$107.5 billion21.1311.1%24.7%7.9%1.653.2%
Duke Energy Corp. DUK$99.7 billion18.719.7%28.5%6.8%1.683.3%
Constellation Energy Corp. CEG$88.7 billion24.3410.8%14.7%26.0%0.770.7%
National Grid plc NGG *$86.4 billion19.038.2%30.7%-3.8%1.192.5%
Williams Companies, Inc. WMB$80.1 billion25.2319.9%37.5%8.8%2.023.2%
Enterprise Products Partners L.P. EPD$79.8 billion12.26n/a12.7%21.5%n/an/a
American Electric Power Co. Inc. AEP$68.9 billion20.6710.2%23.4%11.1%1.603.0%
Kinder Morgan, Inc. KMI$66.7 billion18.4911.4%29.0%11.7%1.053.9%
TC Energy Corporation TRP *$64.5 billion26.4412.9%52.7%10.7%2.203.9%
Dominion Energy, Inc. D$60.4 billion22.799.1%22.5%21.5%1.663.9%
Cheniere Energy, Inc. LNG$56.8 billion19.4046.3%28.1%22.5%3.680.8%
Targa Resources Corp. TRGP$56.7 billion23.4164.1%22.5%4.7%5.201.7%
ONEOK Inc. OKE$53.7 billion13.2317.4%14.2%36.8%1.225.0%
Entergy Corp. ETR$52.8 billion25.4110.3%24.6%10.3%1.752.3%
Sempra SRE$51.1 billion16.759.2%n/a-0.9%1.123.3%
Xcel Energy Inc. XEL$50.6 billion18.5710.5%21.7%4.5%1.592.9%
Exelon Corp. EXC$47.2 billion17.708.8%19.8%6.7%1.773.6%
Consolidated Edison Inc. ED$44.0 billion18.988.7%18.7%9.0%1.05n/a
Vistra Corp. VST$41.9 billion21.0440.5%18.5%3.8%3.570.7%
WEC Energy Group, Inc. WEC$38.1 billion21.0412.1%23.5%8.1%1.523.2%
Public Service Enterprise Group Inc. PEG$36.2 billion20.5110.2%21.6%5.3%1.483.6%
Ameren Corp. AEE$31.2 billion19.6211.3%25.2%-0.3%1.552.6%
American Water Works Company, Inc. AWK$29.9 billion26.059.5%37.0%5.4%1.372.3%
Atmos Energy Corp. ATO$29.3 billion20.679.2%37.0%6.5%0.682.0%
Venture Global, Inc. VG$28.8 billion9.0838.9%37.6%100.7%4.880.3%
Pg&E Corp. PCG$28.6 billion9.618.6%20.2%4.1%1.88n/a
DTE Energy Co. DTE$28.2 billion20.5810.8%13.1%12.4%2.253.3%
Cheniere Energy Partners, L.P. CQP$27.8 billionn/an/a34.2%13.2%n/an/a
Centerpoint Energy Inc. CNP$27.0 billion23.259.8%24.4%7.8%2.122.3%
PPL Corp. PPL$27.0 billion20.478.6%24.5%7.5%1.333.1%
Firstenergy Corp. FE$26.9 billion22.339.3%14.9%12.2%2.323.8%
Eversource Energy ES$26.3 billion18.438.7%21.5%4.6%1.764.5%
Edison International EIX$22.8 billion6.3220.3%31.8%2.6%2.335.9%
CMS Energy Corp. CMS$21.7 billion24.719.0%13.8%8.2%2.063.3%
Nisource Inc. NI$21.2 billion22.649.8%27.4%10.0%1.912.7%
Evergy, Inc. EVRG$20.5 billion19.499.7%27.4%8.5%1.473.2%
Alliant Energy Corp. LNT$18.9 billion20.2512.0%22.6%5.4%1.612.9%
NRG Energy, Inc. NRG$18.6 billion22.9217.5%6.1%12.8%4.822.1%
Western Midstream Partners, LP WES$16.5 billion12.91n/a38.5%22.3%n/an/a
Talen Energy Corp. TLN$16.0 billionn/a-16.1%2.0%71.9%6.06n/a
Essential Utilities, Inc. WTRG$13.0 billion22.847.9%72.4%9.2%1.223.2%
Pinnacle West Capital Corp. PNW$12.6 billion19.598.8%20.7%7.5%1.533.5%
DT Midstream, Inc. DTM$11.6 billion24.759.8%49.4%13.4%0.683.0%
OGE Energy Corp. OGE$10.5 billion19.0310.6%25.8%2.4%1.123.4%
Antero Midstream Corp. AM$9.0 billion13.3730.5%81.3%7.3%1.424.7%
Entergy Arkansas, LLC EAI$8.7 billion4.1910.3%24.6%n/a1.7513.4%
Idacorp Inc. IDA$8.6 billion22.519.2%23.5%4.5%0.952.4%
UGI Corp. UGI$7.9 billion12.3912.9%16.2%-0.5%1.354.0%
Kinetik Holdings Inc. KNTK$7.9 billion16.31n/a12.2%15.8%n/a6.6%
Clearway Energy, Inc. CWEN$7.0 billion44.271.7%13.4%9.9%1.665.4%
National Fuel Gas Co. NFG$7.0 billion10.2117.2%40.3%15.1%0.912.9%
Southwest Gas Holdings, Inc. SWX$6.6 billionn/an/an/an/a0.862.8%
Black Hills Corp. BKH$6.5 billion20.418.0%24.3%2.8%1.133.3%
Txnm Energy Inc. TXNM$6.4 billion28.076.3%24.4%10.0%1.652.9%
Ormat Technologies, Inc. ORA$5.7 billion42.745.1%16.7%28.6%0.600.5%
New Jersey Resources Corp. NJR$5.5 billion15.0113.9%24.8%6.4%1.403.5%
Portland General Electric Co. POR$5.5 billion19.736.3%14.4%1.2%1.164.6%
Spire Inc. SR$5.2 billion9.9015.3%19.7%4.1%2.033.7%
NorthWestern Energy Group, Inc. NWE$5.1 billion31.225.7%18.1%10.1%1.273.2%
One Gas, Inc. OGS$5.1 billion17.258.3%21.1%-1.9%1.003.3%
Archrock, Inc. AROC$4.8 billion14.2021.4%n/a3.7%1.473.2%
Kodiak Gas Services, Inc. KGS$4.2 billion49.563.7%27.4%8.2%1.264.6%
MDU Resources Group Inc. MDU$4.0 billion20.026.5%17.1%-0.7%0.873.0%
American States Water Co. AWR$3.6 billion24.6512.6%32.2%11.1%0.792.3%
Chesapeake Utilities Corp. CPK$3.4 billion22.129.0%27.2%13.9%1.042.0%
Avista Corp. AVA$3.4 billion13.498.7%18.9%-1.4%1.194.9%
Otter Tail Corp. OTTR$3.3 billion18.719.2%15.2%0.0%0.652.9%
California Water Service Group CWT$3.2 billion22.797.2%19.4%4.8%0.862.6%
H2O America HTO$3.0 billion24.704.8%20.7%4.2%0.952.8%
MGE Energy Inc. MGEE$3.0 billion18.5510.9%22.5%8.0%0.632.3%
Fervo Energy Co. FRVO$2.7 billionn/an/an/an/a0.08n/a
Northwest Natural Holding Co. NWN$2.2 billion17.138.3%22.9%3.2%1.843.8%
Centuri Holdings, Inc. CTRI$2.1 billion36.326.0%3.1%31.5%0.90n/a
NGL Energy Partners LP NGL$1.9 billionn/an/a1.9%18.0%n/an/a
NextDecade Corp. NEXT$1.6 billionn/a-83.8%n/an/a107.19n/a
Hawaiian Electric Industries Inc. HE$1.5 billion6.3912.8%10.5%13.6%1.28n/a
New Fortress Energy Inc. NFE$1.3 billionn/an/a-84.3%-36.9%n/an/a
Excelerate Energy, Inc. EE$1.2 billion25.252.1%23.8%16.2%0.460.9%
Middlesex Water Co. MSEX$1.1 billion21.639.5%30.5%8.9%0.802.4%
Unitil Corp. UTL$1.0 billion18.318.6%18.6%21.1%1.543.3%
Xplr Infrastructure, LP XIFR$689 million4.601.4%6.4%-1.1%0.57n/a
York Water Co. YORW$530 million19.678.5%37.9%13.7%0.652.8%
Hallador Energy Co. HNRG$476 million505.00-0.5%3.7%6.5%0.23n/a
Genie Energy Ltd. GNE$462 million16.1810.9%5.2%1.7%0.031.7%
Consolidated Water Co. Ltd. CWCO$436 million27.527.2%12.3%-1.2%0.002.1%
Clean Energy Fuels Corp. CLNE$421 millionn/a-13.6%-4.0%6.3%0.39n/a
Montauk Renewables, Inc. MNTK$388 million54.203.0%0.6%4.3%0.57n/a
Artesian Resources Corp. ARTNA$354 million15.049.2%25.0%5.9%0.723.7%
Cadiz Inc. CDZI$300 millionn/a-789.7%-236.1%-21.3%18.65n/a
Summit Midstream Corp. SMC$288 millionn/a-0.6%14.6%20.9%2.07n/a
Pure Cycle Corp. PCYO$262 million17.859.7%37.7%22.9%0.09n/a
RGC Resources Inc. RGCO$241 million17.2911.4%17.3%13.8%1.213.7%
Global Water Resources, Inc. GWRS$219 million81.112.6%12.6%9.8%1.414.1%
Stabilis Solutions, Inc. SLNG$67 millionn/a-15.0%-19.4%-30.3%0.14n/a
Ocean Power Technologies, Inc. OPTT$4 millionn/an/a-1,088.8%-25.8%1.17n/a
13 companies share its SEC industry code (Natural Gas Transmission); the rest are the names nearest in size in its wider industry, Utilities, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on WMB

Dividends$2.075 a share over the four quarters to 30 September 2026, a 3.24% yield
Filings29 in twelve months: 18 current reports (8-K), about 5 material agreement; 5 regulation FD disclosure; 4 other events; 4 results of operations; 4 officer or director change
Planned insider sales22 Form 144 notices in twelve months, $31.9 million; latest 2 November 2026
Options tapeput/call 0.6 by open interest at the 6 November 2026 close; the straddle prices a 4.0% move to 13 November 2026
13F holders1,843 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading23 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest26.6 million shares short, 3.35 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 20262 November 2026EDGAR
10-Q30 June 20263 August 2026EDGAR
10-Q31 March 20264 May 2026EDGAR
10-K31 December 202524 February 2026EDGAR
10-Q30 September 20253 November 2025EDGAR
10-Q30 June 20254 August 2025EDGAR
10-Q31 March 20255 May 2025EDGAR
10-K31 December 202425 February 2025EDGAR
10-Q30 September 20246 November 2024EDGAR
10-Q30 June 20245 August 2024EDGAR

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