Williams Companies (WMB) FY2020 results: revenue $7.7 billion, down 5.9% on the year
Williams Companies, Inc. (WMB) reported revenue of $7.7 billion for fiscal 2020, the year ended 31 December 2020, down 5.9% on the year before. Net income was $211 million, down 75.2%, and diluted earnings per share $0.17. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$7.7 billion
-5.9% on the year
FY2013FY2020
Operating margin
28.5%
23.4% a year earlier
FY2013FY2020
Net income
$211 million
-75.2% on the year
FY2013FY2020
Diluted EPS
$0.17
-75.7% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
7,719
8,201
8,686
-5.9%
Selling, general and administrative
466
558
569
-16.5%
Operating income
2,202
1,921
768
+14.6%
Operating margin
28.5%
23.4%
8.8%
Interest expense
1,172
1,186
1,112
-1.2%
Pre-tax income
277
1,064
331
-74.0%
Income tax
79.0
335
138
-76.4%
Effective tax rate
28.5%
31.5%
41.7%
Net income
211
850
-155
-75.2%
Net margin
2.7%
10.4%
-1.8%
Diluted EPS
$0.17
$0.70
-$0.16
-75.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
3,496
3,693
3,293
-5.3%
Capital expenditure
1,239
2,109
3,256
-41.3%
Free cash flow
2,257
1,584
37.0
+42.5%
Free cash flow margin
29.2%
19.3%
0.4%
Cash from investing
-1,558
-2,827
-2,725
Cash from financing
-2,085
-745
-1,299
Depreciation and amortisation
1,721
1,714
1,725
+0.4%
Share-based compensation
52.0
57.0
55.0
-8.8%
Dividends paid
1,941
1,842
1,386
+5.4%
Dividend per share
$1.60
$1.52
$1.36
+5.3%
Diluted shares, weighted
1,215m
1,214m
974m
+0.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
11,769
13,363
14,660
-11.9%
Non-controlling interest
2,814
3,001
1,337
-6.2%
Debt
22,344
22,288
22,367
+0.3%
Operating lease liabilities
161
188
n/a
-14.4%
Other liabilities
7,077
7,200
6,938
-1.7%
Total liabilities and equity
44,165
46,040
45,302
-4.1%
Fixed assets
28,929
29,200
27,504
-0.9%
Goodwill
n/a
188
0.0
Cash and equivalents
142
289
168
-50.9%
Receivables
999
996
992
+0.3%
Inventory
136
125
130
+8.8%
Other assets
13,959
15,242
16,508
-8.4%
Total assets
44,165
46,040
45,302
-4.1%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.