Williams Financials
This page shows Williams (WMB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Williams has an operating margin of 35.1%, meaning the company retains $35 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 31.8% the prior year.
Williams's revenue grew 13.8% year-over-year to $11.9B, a solid pace of expansion. This earns a growth score of 56/100.
Williams has a moderate D/E ratio of 2.13. This balance of debt and equity financing earns a leverage score of 59/100.
Williams's current ratio of 0.53 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 5/100, which could limit financial flexibility.
Williams has a free cash flow margin of 8.4%, earning a moderate score of 46/100. The company generates positive cash flow after capital investments, but with room for improvement.
Williams's ROE of 20.4% shows moderate profitability relative to equity, earning a score of 57/100. This is up from 17.9% the prior year.
Williams scores 1.24, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($88.0B) relative to total liabilities ($45.8B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Williams passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Williams generates $2.25 in operating cash flow ($5.9B OCF vs $2.6B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Williams earns $2.9 in operating income for every $1 of interest expense ($4.2B vs $1.4B). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Williams generated $11.9B in revenue in fiscal year 2025. This represents an increase of 13.8% from the prior year.
Williams's EBITDA was $6.5B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 17.7% from the prior year.
Williams reported $2.6B in net income in fiscal year 2025. This represents an increase of 17.7% from the prior year.
Williams earned $2.14 per diluted share (EPS) in fiscal year 2025. This represents an increase of 17.6% from the prior year.
Cash & Balance Sheet
Williams generated $1.0B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 58.1% from the prior year.
Williams held $63.0M in cash against $27.3B in long-term debt as of fiscal year 2025.
Margins & Returns
Williams's operating margin was 35.1% in fiscal year 2025, reflecting core business profitability. This is up 3.3 percentage points from the prior year.
Williams's net profit margin was 21.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.7 percentage points from the prior year.
Williams's ROE was 20.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.5 percentage points from the prior year.
Capital Allocation
Williams spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Williams invested $4.9B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 90.2% from the prior year.
WMB Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1B-29.6% | $2.9B+5.1% | $2.8B-33.6% | $4.2B+52.6% | $2.7B+3.4% | $2.7B+13.6% | $2.3B-15.7% | $2.8B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $191.0M+13.7% | $168.0M0.0% | $168.0M-13.4% | $194.0M+3.2% | $188.0M+10.6% | $170.0M+3.7% | $164.0M-11.8% | $186.0M |
| Operating Income | $1.0B-5.5% | $1.1B+17.4% | $945.0M-13.6% | $1.1B+38.0% | $793.0M-5.4% | $838.0M+20.4% | $696.0M-31.2% | $1.0B |
| Interest Expense | $371.0M-0.3% | $372.0M+6.3% | $350.0M+0.3% | $349.0M+3.3% | $338.0M0.0% | $338.0M-0.3% | $339.0M-2.9% | $349.0M |
| Income Tax | $244.0M-0.8% | $246.0M+41.4% | $174.0M-9.8% | $193.0M+112.1% | $91.0M-59.9% | $227.0M+76.0% | $129.0M-33.2% | $193.0M |
| Net Income | $734.0M+13.4% | $647.0M+18.5% | $546.0M-21.0% | $691.0M+42.2% | $486.0M-31.2% | $706.0M+76.1% | $401.0M-36.6% | $632.0M |
| EPS (Diluted) | N/A | $0.53+17.8% | $0.45-19.6% | $0.56 | N/A | $0.58+75.8% | $0.33-36.5% | $0.52 |
WMB Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $58.6B+5.1% | $55.7B-0.7% | $56.1B+2.2% | $54.9B+0.7% | $54.5B+1.3% | $53.8B+2.7% | $52.4B-0.6% | $52.7B |
| Current Assets | $3.2B+42.8% | $2.3B-29.5% | $3.2B+27.1% | $2.5B-4.7% | $2.7B-1.4% | $2.7B+27.6% | $2.1B-19.0% | $2.6B |
| Cash & Equivalents | $63.0M-10.0% | $70.0M-92.2% | $903.0M+803.0% | $100.0M+66.7% | $60.0M-92.1% | $762.0M+1285.5% | $55.0M-91.8% | $667.0M |
| Inventory | $314.0M-7.4% | $339.0M+1.2% | $335.0M+34.5% | $249.0M-10.8% | $279.0M+1.5% | $275.0M+0.4% | $274.0M+14.6% | $239.0M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $466.0M | N/A | N/A | N/A | $466.0M | N/A | N/A | N/A |
| Total Liabilities | $45.8B+5.9% | $43.2B-1.1% | $43.7B+3.0% | $42.4B+0.8% | $42.1B+1.7% | $41.4B+3.2% | $40.1B-0.5% | $40.3B |
| Current Liabilities | $6.1B+13.6% | $5.4B-10.6% | $6.0B-4.1% | $6.3B+18.0% | $5.3B+12.6% | $4.7B+0.5% | $4.7B-5.7% | $5.0B |
| Long-Term Debt | $27.3B+6.7% | $25.6B-0.1% | $25.6B+6.1% | $24.1B-2.5% | $24.7B-0.4% | $24.8B+3.0% | $24.1B0.0% | $24.1B |
| Total Equity | $12.8B+2.3% | $12.5B+0.7% | $12.4B-0.4% | $12.5B+0.4% | $12.4B+0.1% | $12.4B+1.1% | $12.3B-1.2% | $12.4B |
| Retained Earnings | -$12.2B+0.9% | -$12.4B+0.3% | -$12.4B-0.5% | -$12.3B+0.6% | -$12.4B-0.8% | -$12.3B+1.0% | -$12.4B-1.5% | -$12.2B |
WMB Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.6B+9.5% | $1.4B-0.8% | $1.4B+1.2% | $1.4B+17.7% | $1.2B-2.0% | $1.2B-2.8% | $1.3B+3.6% | $1.2B |
| Capital Expenditures | $2.0B+104.9% | $954.0M-1.9% | $972.0M-4.0% | $1.0B+31.8% | $768.0M+12.6% | $682.0M+17.8% | $579.0M+6.4% | $544.0M |
| Free Cash Flow | -$379.0M-178.1% | $485.0M+1.5% | $478.0M+13.5% | $421.0M-6.4% | $450.0M-19.8% | $561.0M-19.9% | $700.0M+1.4% | $690.0M |
| Investing Cash Flow | -$2.3B-126.9% | -$1.0B+1.6% | -$1.0B+12.5% | -$1.2B-9.3% | -$1.1B-45.2% | -$737.0M-18.9% | -$620.0M+74.5% | -$2.4B |
| Financing Cash Flow | $704.0M+155.7% | -$1.3B-435.3% | $377.0M+269.1% | -$223.0M+73.8% | -$850.0M-522.9% | $201.0M+115.8% | -$1.3B-352.3% | -$281.0M |
| Dividends Paid | $610.0M-0.2% | $611.0M0.0% | $611.0M+0.2% | $610.0M+5.4% | $579.0M0.0% | $579.0M0.0% | $579.0M0.0% | $579.0M |
| Share Buybacks | N/A | N/A | N/A | N/A | $0 | $0 | $0 | $0 |
WMB Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 50.9%+13.0pp | 37.9%+4.0pp | 34.0%+7.9pp | 26.1%-2.8pp | 28.9%-2.7pp | 31.6%+1.8pp | 29.8%-6.7pp | 36.5% |
| Net Margin | 35.6%+13.5pp | 22.1%+2.5pp | 19.6%+3.1pp | 16.5%-1.2pp | 17.7%-8.9pp | 26.6%+9.4pp | 17.2%-5.6pp | 22.8% |
| Return on Equity | 5.7%+0.6pp | 5.2%+0.8pp | 4.4%-1.1pp | 5.5%+1.6pp | 3.9%-1.8pp | 5.7%+2.4pp | 3.3%-1.8pp | 5.1% |
| Return on Assets | 1.3%+0.1pp | 1.2%+0.2pp | 1.0%-0.3pp | 1.3%+0.4pp | 0.9%-0.4pp | 1.3%+0.5pp | 0.8%-0.4pp | 1.2% |
| Current Ratio | 0.53+0.1 | 0.42-0.1 | 0.54+0.1 | 0.40-0.1 | 0.50-0.1 | 0.57+0.1 | 0.45-0.1 | 0.52 |
| Debt-to-Equity | 2.13+0.1 | 2.04-0.0 | 2.06+0.1 | 1.93-0.1 | 1.990.0 | 2.00+0.0 | 1.96+0.0 | 1.94 |
| FCF Margin | -18.4%-35.0pp | 16.6%-0.6pp | 17.2%+7.1pp | 10.1%-6.4pp | 16.4%-4.7pp | 21.1%-8.8pp | 30.0%+5.1pp | 24.9% |
Note: The current ratio is below 1.0 (0.53), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Williams's annual revenue?
Williams (WMB) reported $11.9B in total revenue for fiscal year 2025. This represents a 13.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Williams's revenue growing?
Williams (WMB) revenue grew by 13.8% year-over-year, from $10.5B to $11.9B in fiscal year 2025.
Is Williams profitable?
Yes, Williams (WMB) reported a net income of $2.6B in fiscal year 2025, with a net profit margin of 21.9%.
What is Williams's EBITDA?
Williams (WMB) had EBITDA of $6.5B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Williams have?
As of fiscal year 2025, Williams (WMB) had $63.0M in cash and equivalents against $27.3B in long-term debt.
What is Williams's operating margin?
Williams (WMB) had an operating margin of 35.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Williams's net profit margin?
Williams (WMB) had a net profit margin of 21.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Williams's return on equity (ROE)?
Williams (WMB) has a return on equity of 20.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Williams's free cash flow?
Williams (WMB) generated $1.0B in free cash flow during fiscal year 2025. This represents a -58.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Williams's operating cash flow?
Williams (WMB) generated $5.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Williams's total assets?
Williams (WMB) had $58.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Williams's capital expenditures?
Williams (WMB) invested $4.9B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Williams's current ratio?
Williams (WMB) had a current ratio of 0.53 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Williams's debt-to-equity ratio?
Williams (WMB) had a debt-to-equity ratio of 2.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Williams's return on assets (ROA)?
Williams (WMB) had a return on assets of 4.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Williams's Altman Z-Score?
Williams (WMB) has an Altman Z-Score of 1.24, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Williams's Piotroski F-Score?
Williams (WMB) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Williams's earnings high quality?
Williams (WMB) has an earnings quality ratio of 2.25x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Williams cover its interest payments?
Williams (WMB) has an interest coverage ratio of 2.9x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Williams?
Williams (WMB) scores 54 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.