Williams Companies (WMB) FY2019 results: revenue $8.2 billion, down 5.6% on the year
Williams Companies, Inc. (WMB) reported revenue of $8.2 billion for fiscal 2019, the year ended 31 December 2019, down 5.6% on the year before. Net income was $850 million, and diluted earnings per share $0.70. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$8.2 billion
-5.6% on the year
FY2012FY2019
Operating margin
23.4%
8.8% a year earlier
FY2012FY2019
Net income
$850 million
FY2012FY2019
Diluted EPS
$0.70
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
8,201
8,686
8,031
-5.6%
Selling, general and administrative
558
569
594
-1.9%
Operating income
1,921
768
927
+150.1%
Operating margin
23.4%
8.8%
11.5%
Interest expense
1,186
1,112
1,083
+6.7%
Pre-tax income
1,064
331
535
+221.5%
Income tax
335
138
-1,974
+142.8%
Effective tax rate
31.5%
41.7%
-369.0%
Net income
850
-155
2,174
Net margin
10.4%
-1.8%
27.1%
Diluted EPS
$0.70
-$0.16
$2.62
$ million except per share. 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.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
3,693
3,293
3,089
+12.1%
Capital expenditure
2,109
3,256
2,399
-35.2%
Free cash flow
1,584
37.0
690
+4,181.1%
Free cash flow margin
19.3%
0.4%
8.6%
Cash from investing
-2,827
-2,725
100
Cash from financing
-745
-1,299
-2,460
Depreciation and amortisation
1,714
1,725
1,736
-0.6%
Share-based compensation
57.0
55.0
78.0
+3.6%
Dividends paid
1,842
1,386
992
+32.9%
Dividend per share
$1.52
$1.36
$1.20
+11.8%
Diluted shares, weighted
1,214m
974m
829m
+24.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
13,363
14,660
9,656
-8.8%
Non-controlling interest
3,001
1,337
6,519
+124.5%
Debt
22,288
22,367
20,935
-0.4%
Operating lease liabilities
188
n/a
n/a
Other liabilities
7,200
6,938
9,242
+3.8%
Total liabilities and equity
46,040
45,302
46,352
+1.6%
Fixed assets
29,200
27,504
28,211
+6.2%
Goodwill
188
0.0
47.0
Cash and equivalents
289
168
899
+72.0%
Receivables
996
992
976
+0.4%
Inventory
125
130
113
-3.8%
Other assets
15,242
16,508
16,106
-7.7%
Total assets
46,040
45,302
46,352
+1.6%
10-K for the year ended 31 December 2019, filed 24 February 2020: the filing.