WMB

Williams CompaniesNYSE · Oil & Gas Storage & Transportation · Energy

Previous close

74.35

Change

−0.53 / −0.71%

FinDog View

Neutral

52-Week Range ?

56.19 – 80.08

P/E (TTM) ?

29.6

Forward P/E ?

27.9

Based on consensus earnings for the next 12 months

Market Cap

$87.7B

+9.39%

S&P 500 −0.91% over same period

Volume / Avg Volume

7.6M / 7.7M

0.99× average

Latest earnings analysisFY2026 Q2Reported 2026-08-03

Williams Q2 2026: GAAP EPS up 51%, guidance raised for Momentum deal

Williams posted $827 million of second-quarter 2026 net income, $0.68 per diluted share, and lifted its 2026 Adjusted EBITDA midpoint to $8.40 billion while agreeing to buy Momentum Midstream for up to $5.50 billion. Read the quarter as solid operations plus a bigger, more levered growth plan: adjusted profit grew 8%, but free cash flow was negative $458 million and capital spending is running at $7.30–$7.90 billion for the year.

Read the full analysis →

Revenue$3.38BYoY +21.50%

EPS (non-GAAP)$0.50Missest. $0.51

Next-day move+1.53%

Price History

Closing price · USD1M 6M 1Y 5Y

Historical P/E

Close ÷ trailing four-quarter EPS · Period median 31.71M 6M 1Y 5Y

Recent Earnings

Click to read the FinDog analysis

Period	Reported	Revenue	EPS Actual / Est.	Next-Day Move	Analysis
FY2026 Q2 Quarter ended 2026-06	2026-08-03	$3.4B	0.50 / 0.51	+1.53%	Read analysis →
FY2026 Q1 Quarter ended 2026-03	2026-05-04	$4.7B	0.73 / 0.63	+0.94%	Pending
FY2025 Q4 Quarter ended 2025-12	2026-02-10	$14.9B	0.55 / 0.57	+3.31%	Pending
FY2025 Q3 Quarter ended 2025-09	2025-11-03	$3.5B	0.49 / 0.52	−4.27%	Pending
FY2025 Q2 Quarter ended 2025-06	2025-08-04	$3.4B	0.46 / —	−2.09%	Pending
FY2025 Q1 Quarter ended 2025-03	2025-05-05	$4.2B	0.60 / —	−2.44%	Pending

Next Earnings

Date and consensus from the earnings calendar; the analysis is generated automatically after the releaseEarnings Calendar →

Report date

2026-11-02

Today · Pre-market

Consensus EPS

$0.55

Last quarter EPS $0.50

Avg. next-day move over the last 6 reports

±2.4%

Decision Panel

Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market data

Valuation

P/E is at percentile 56 of its 5-year rangeMid-range

5-year range 14.9 – 34.4 · Median 28.6

Last 4 quarters: $0 in buybacks + $2.5B in dividends, 2.86% of market cap combined

P/E (TTM)

29.6

P/B

6.9

P/S

7.5

Dividend Yield

2.78%

Earnings Reaction

Over the last 6 reports, the stock moved ±2.4% on average on the first trading day after, rising 3 times

Most recent +1.53%

Volatility & Correlation

1-year beta 0.06 · Correlation with S&P 500 0.03Low beta

Annualized volatility 25% vs. 13% for the S&P 500

Insider Trading

View all →

Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions

Buy 0 · $0.00MSell 4 · $1.4MNet selling $1.4M

10-01Wilson Terrance LaneSVP & General CounselSell$0.14M2,000 shares · Avg price 67.85
09-01Wilson Terrance LaneSVP & General CounselSell$0.15M2,000 shares · Avg price 75.56
08-14Wilson Terrance LaneSVP & General CounselSell$0.97M13,000 shares · 2 trades · Avg price 74.87
08-03Wilson Terrance LaneSVP & General CounselSell$0.14M2,000 shares · Avg price 70.65

Multi-Quarter Financial Trends

View all quarters →

Last 12 quarters · As reported by the company

Quarter	Revenue ($B)	YoY	Gross Margin	Operating Income ($B)	Net Income ($B)	Free Cash Flow ($B)	EPS
FY2026 Q2	3.38	+0.0%	—	1.18	0.83	-0.46	0.68
FY2026 Q1	4.72	+12.7%	—	1.32	0.87	0.24	0.70
FY2025 Q4	3.84	+12.7%	—	1.05	0.73	-0.38	0.60
FY2025 Q3	3.49	+15.0%	—	1.11	0.65	0.49	0.53
FY2025 Q2	3.38	+18.7%	—	0.95	0.55	0.48	0.45
FY2025 Q1	4.19	+25.4%	—	1.09	0.69	0.42	0.56
FY2024 Q4	3.41	+12.9%	—	0.79	0.49	0.45	0.39
FY2024 Q3	3.04	−0.8%	—	0.84	0.71	0.56	0.58
FY2024 Q2	2.85	+1.9%	—	0.70	0.40	0.70	0.33
FY2024 Q1	3.34	+7.1%	—	1.01	0.63	0.69	0.52
FY2023 Q4	3.02	−26.8%	—	1.09	1.14	1.14	0.92
FY2023 Q3	3.06	−38.4%	—	0.99	0.65	0.54	0.54

Peers

Largest by market cap in the sector · Latest quarterView Energy sector →

Ticker	Company	Market Cap	P/E	Revenue YoY	Gross Margin	1M	View
WMB	Williams Companies	$87.7B	29.6	+0.0%	—	+9.39%	Neutral
XOM	ExxonMobil	$753B	22.6	+42.3%	—	+15.05%	Neutral	Compare
CVX	Chevron Corporation	$465B	22.6	+51.4%	45.5%	+15.33%	Bullish	Compare
COP	ConocoPhillips	$184B	19.7	+43.3%	62.9%	+23.08%	Bullish	Compare
MPC	Marathon Petroleum	$124B	14.2	+53.8%	17.2%	+12.47%	Neutral	Compare
VLO	Valero Energy	$121B	15.4	+43.3%	20.4%	+3.11%	Bullish	Compare
PSX	Phillips 66	$109B	15.0	+46.4%	19.2%	+10.78%	Bullish	Compare
EOG	EOG Resources	$86.6B	12.6	+57.4%	—	+20.17%	Bullish	Compare
SLB	Schlumberger	$78.6B	25.5	+5.8%	—	+10.30%	Neutral	Compare

Earnings Preview · Reports 11-02 Pre-market

Williams Q3 preview: EPS seen at $0.55, watch cash flow and leverage

Whether adjusted EPS meets the $0.55 consensus and reverses last quarter's miss
Whether free cash flow turns positive from last quarter's -$458 million
Whether leverage peaks after long-term debt rose to $28.121 billion and the Momentum deal

No explicit prior guidance is available; the consensus EPS is $0.55, above the $0.68 reported for Q2 (definitions may differ).

Over the past 6 reports, the stock moved ±2.4% on average, rising in half of them; the latest move was +1.5%.

Watch out for：If free cash flow stays negative and debt keeps climbing, concerns that growth relies on borrowing and acquisitions will grow.

The View in One Line

Adjusted EBITDA up 6% and guidance raised, but EPS 0.50 missed 0.5148, free cash flow -$458M and long-term debt $28.1B; neutral.

Updated 2026-10-30

ETFs holding it

XLE Energy Select Sector SPDR Fund4.13%
MTUM iShares MSCI USA Momentum Factor ETF0.51%
VYM Vanguard High Dividend Yield ETF0.36%
VTV Vanguard Value ETF0.33%
RSP Invesco S&P 500 Equal Weight ETF0.20%
VOO Vanguard S&P 500 ETF0.14%
SPY SPDR S&P 500 ETF Trust0.14%
IVV iShares Core S&P 500 ETF0.14%

Weights estimated at latest prices

Key Events

09-10Capital Actions
Williams Issues $2.75 Billion of Senior Notes Across Multiple Maturities
On September 8, 2026, Williams priced a total of $2.75 billion of senior notes in four tranches maturing 2029, 2033, 2036 and 2056, with settlement expected September 10.Source ↗
09-10Capital Actions
Williams Issues $2.75 Billion of Senior Notes Across Multiple Maturities
On September 10, 2026, Williams completed the issuance of 5.000% 2029 notes, 5.600% 2033 notes, 5.800% 2036 notes and 6.400% 2056 notes, totaling $2.75 billion.Source ↗
09-03Capital Actions
Williams Files Prospectus Supplement for Resale of 26.87 Million Shares
On September 3, 2026, The Williams Companies filed a prospectus supplement registering the resale of up to 26,874,496 shares of common stock by selling stockholders.Source ↗
08-21Management Change
Director Creel Will Not Stand for Re-election, to Retire at Term End
On August 17, 2026, Michael A. Creel notified Williams Companies that he will not stand for re-election at the 2027 annual meeting of shareholders and will leave the board at the end of his term.Source ↗
07-01Management Change
Williams Adds Two Independent Directors, Expanding Board to 12
On July 1, 2026, Williams appointed Robb E. Turner and Lloyd W. Helms, Jr. as independent directors, expanding the board from 10 to 12 members.Source ↗
05-20Capital Actions
Williams Signs Second Amended Credit Agreement
On May 19, 2026, The Williams Companies, Northwest Pipeline, and Transco entered into a second amended and restated credit agreement.Source ↗
05-04Governance
Williams Shareholders Pass Director Elections and Equity Incentive Plan Amendment
At the April 28, 2026 annual meeting, shareholders elected 10 directors, approved executive compensation, and increased shares issuable under the 2007 incentive plan from 50 million to 85 million.Source ↗
03-26Management Change
Executive Chairman Armstrong Resigns from Board, Bergstrom Becomes Chairman
Alan S. Armstrong resigned from the Williams board on March 23, 2026 to become a U.S. Senator; Stephen W. Bergstrom was elected chairman, and the board size decreased from 12 to 11 members.Source ↗

Key Financial Trends

Quarterly Revenue ($B)3.4

Free Cash Flow ($B)-0.5