Income StatementBalance SheetCash FlowSegments
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Williams Companies Income Statement

Revenue, expenses, and profitability over time

Williams Companies generated $11.5B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $2.4B with a 20.62% net margin. Diluted EPS is $1.93, which declined 0.2% year-over-year. Based on the Q3 2025 filing.

Total Revenue (TTM)$11.5BOperating Income (TTM)$3.9BNet Income (TTM)$2.4BEps Diluted (TTM)$1.93
Latest FilingQ3 2025
Report Date2025-11-03
Market Cap$95.0B
P/E Ratio40.09
ROE19.0%

Operating Expenses

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Other Operating Expense, Net$27.0M$25.0M—$10.0M-$13.0M-$14.0M
Defined Contribution Plan Cost$17.3M$17.3M$17.3M———
Stock-based compensation expense$25.0M$22.0M$32.0M-$25.0M$17.0M$24.0M
Shipping and Handling Costs$522.0M$580.0M$566.0M$542.0M$572.0M$583.0M
Depreciation and amortization$540.0M$566.0M$565.0M$585.0M$605.0M$564.0M
Stock-based compensation expense$24.0M$21.0M$30.0M$30.0M$19.0M$21.0M
Selling, general and administrative$164.0M$170.0M$188.0M$194.0M$168.0M$168.0M
Amortization of Deferred Costs$0.0$0.0—-$1.0M$0.0-$2.0M
Accretion Expense$29.5M$29.5M$29.5M———
Total operating expenses$1.6B$1.8B$2.0B$2.0B$1.8B$1.8B

Revenue

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Revenue Recognized from Contract Liability$66.0M$66.0M$75.0M$66.0M$73.0M$83.0M
Total revenue$2.3B$2.7B$2.7B$3.0B$2.8B$2.9B

Net Income

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Net income applicable to common shareholders$401.0M$705.0M$485.0M$690.0M$546.0M$646.0M
Net income attributable to noncontrolling interests$25.0M$35.0M$31.0M$38.0M$37.0M$36.0M
Dividends Paid to Minority Interest$66.0M$48.0M$64.0M$69.0M$62.0M$66.0M
Net income$401.0M$706.0M$486.0M$691.0M$546.0M$647.0M
Preferred stock dividends$0.0$1.0M$1.0M$1.0M$0.0$1.0M

Tax

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Current income tax expense (benefit)$23.0M$18.0M$52.0M$86.0M$95.0M-$10.0M
Income Tax at U.S. Statutory Rate$156.8M$156.8M$156.8M———
State and Local Income Taxes, Net$4.0M$7.0M—$7.0M$11.0M-$2.0M
Tax Reconciliation, Other Items$750.0K$750.0K$750.0K———
Income tax expense$129.0M$227.0M$91.0M$193.0M$174.0M$246.0M
Tax Reconciliation: Enacted Rate Change-$11.0M-$11.0M-$11.0M———

Earnings Per Share

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Basic earnings per share$0.33$0.58$0.39$0.57$0.45$0.53
Diluted earnings per share$0.33$0.58$0.39$0.56$0.45$0.53
Dividends Per Share Declared$0.47$0.47$0.48$0.50$0.50$0.50
Weighted-average shares, basic1.2B1.2B—1.2B1.2B1.2B
Weighted-average shares, diluted1.2B1.2B—1.2B1.2B1.2B

Other Income & Expense

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Income from equity method investments$147.0M$147.0M$129.0M$155.0M$142.0M$152.0M
Interest expense$339.0M$338.0M$338.0M$349.0M$350.0M$372.0M
Interest income$16.8M$16.8M$16.8M———
Distributions of earnings from equity method investees$206.0M$186.0M$209.0M$158.0M$254.0M$188.0M

Cost of Revenue

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Inventory Write-Down$2.0M$2.0M$2.0M$1.0M$3.0M$1.0M

Income Before Tax

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Income before income taxes$555.0M$968.0M$608.0M$922.0M$757.0M$929.0M

Other

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Tax effect of unrealized gain (loss) on cash flow hedges$0.0$0.0$1.0M$0.0$0.0$1.0M
Derivative, Additional Notional Amount$237.5M$237.5M$237.5M———
Asset Retirement Obligation Accretion Expense For Nonregulated Operations$21.0M$17.0M$25.0M$24.0M$24.0M$23.0M
Asset Retirement Obligation, Liabilities Settled$17.0M$17.0M$17.0M———
Changes in estimated cash flows$7.8M$7.8M$7.8M———
Gain resulting from acquisition of joint venture$31.8M$31.8M$31.8M———
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation-$612.0M$707.0M-$702.0M$40.0M$803.0M-$833.0M
Comprehensive Income (Loss), Net of Tax, Attributable to Parent$404.0M$693.0M$562.0M$691.0M$547.0M$643.0M
Less: comprehensive income attributable to noncontrolling interest$25.0M$35.0M$31.0M$38.0M$37.0M$36.0M
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest$429.0M$728.0M$593.0M$729.0M$584.0M$679.0M
Increase (decrease) to net contractual service agreements due to billings$40.0M$44.0M$45.0M$30.0M$28.0M$13.0M
Contract with Customer, Asset, Increase (Decrease) for Contract Acquired in Business Combination—$36.0M———$0.0
Contract with Customer, Asset, Reclassified to Receivable$23.0M$23.0M$71.0M$23.0M$30.0M$5.0M
Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress-$75.0M-$33.0M-$33.0M-$34.0M-$86.0M-$32.0M
Other—$53.0M———$0.0
Contributions From Noncontrolling Interests$10.0M$0.0$0.0$5.0M$14.0M$3.0M
Federal$19.0M$11.0M$60.0M$79.0M$84.0M-$8.0M
Federal$90.0M$178.0M$77.0M$89.0M$63.0M$185.0M
Deferred taxes$106.0M$209.0M$39.0M$107.0M$79.0M$256.0M
Provision (benefit) for deferred income taxes$106.0M$209.0M$39.0M$107.0M$79.0M$256.0M
State$16.0M$31.0M—$18.0M$16.0M$71.0M
Deferred Tax Assets, Tax Credit Carryforwards, Foreign, Expired$8.8M$8.8M$8.8M———
Defined Contribution Plan Employer Matching Contribution Percent Of Match0.010.010.01———
Depreciation$450.0M$450.0M$450.0M———
Derivative Notional Amount Terminated$437.5M$437.5M$437.5M———
Dividends, Common Stock, Cash$579.0M$579.0M$579.0M$610.0M$611.0M$611.0M
Equity Method Investment Realized Gain Loss On Disposal$37.3M$37.3M$37.3M———
Transfers into Level 3$250.0K$250.0K$250.0K———
Transfers out of Level 3$0.0$0.0$0.0———
Purchases, issuances, and settlements-$250.0K-$250.0K-$250.0K———
Realized and unrealized gains (losses): Included in income (loss)-$1.3M-$1.3M-$1.3M———
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Amount$6.3M$6.3M$6.3M———
Federal settlements$0.0$0.0$0.0———
Income taxes paid$17.0M$17.0M$17.0M———
Increase (Decrease) in Accounts and Notes Receivable$44.0M-$97.0M$536.0M-$82.0M-$219.0M-$83.0M
Accounts payable$90.0M-$98.0M$456.0M-$29.0M-$236.0M-$94.0M
Changes in related accounts payable and accrued liabilities$53.0M$17.0M—-$34.0M$91.0M$84.0M
Increase (Decrease) in Derivative Assets and Liabilities$73.0M-$67.0M$212.0M-$4.0M-$15.0M-$58.0M
Increase (Decrease) in Inventories$37.0M$3.0M$3.0M-$28.0M$89.0M$5.0M
Increase (Decrease) in Other Current Assets-$3.0M$28.0M-$25.0M$40.0M-$4.0M$7.0M
Increase (decrease) in other current liabilities$142.0M-$32.0M$143.0M-$70.0M$220.0M-$55.0M
Interest capitalized$17.0M$17.0M$17.0M———
Investment and other (expense) income, net$18.0M$290.0M$11.0M$8.0M$4.0M$19.0M
Investment Income Nonoperating Other$0.0$0.0$0.0———
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders$66.0M$48.0M$64.0M$69.0M$62.0M$66.0M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$1.3B$201.0M-$850.0M-$223.0M$377.0M-$1.3B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$620.0M-$737.0M-$1.1B-$1.2B-$1.0B-$1.0B
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$1.3B$1.2B$1.2B$1.4B$1.5B$1.4B
Net gains (losses) deferred$4.0M-$13.0M$4.0M$1.0M$2.0M$0.0
Other comprehensive income (loss)$3.0M-$13.0M$76.0M$0.0$1.0M-$4.0M
Pension and other postretirement benefit, tax$1.0M$0.0——$1.0M$3.0M
Other Comprehensive Income Loss Reclassification Adjustment From AOCI Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax$0.0$0.0——$0.0$2.0M
Other income, net (Note 6)$33.0M$31.0M$13.0M$14.0M$16.0M$21.0M
All other operating activities-$90.0M-$49.0M-$45.0M-$29.0M-$48.0M-$51.0M
Other Significant Noncash Transaction, Value of Consideration Received$2.0M$2.0M$2.0M$2.0M$2.0M$1.0M
Payment for (Proceeds from) Other Investing Activity-$14.0M$0.0—-$6.0M-$4.0M$1.0M
Payments of Debt Issuance Costs$2.0M$13.0M$1.0M$12.0M$14.0M$3.0M
Payments of Ordinary Dividends, Common Stock$579.0M$579.0M$579.0M$610.0M$611.0M$611.0M
Payments to Acquire Businesses, Net of Cash Acquired-$7.0M$151.0M$249.0M$1.0M$0.0$0.0
Payments to Acquire Equity Method Investments$30.0M$19.0M$13.0M$163.0M$16.0M$13.0M
Payments to Acquire Productive Assets$1.4B$1.4B$1.4B———
Payments to Acquire Property, Plant, and Equipment$579.0M$682.0M$768.0M$1.0B$972.0M$954.0M
Payments To Retire Proceeds From Sale Of Property Plant And Equipment$32.0M$46.0M$32.0M$0.0$40.0M$40.0M
Proceeds from Issuance of Common Stock$0.0$3.0M$2.0M$5.0M$0.0$4.0M
Debt issued (Note 13)$1.0M$1.5B$0.0$1.5B$1.5B$0.0
Proceeds from Noncontrolling Interests$10.0M$0.0$0.0$5.0M$14.0M$3.0M
Financing — other-$1.0M-$16.0M-$2.0M-$54.0M-$3.0M-$3.0M
Net change in commercial paper$628.0M-$628.0M—-$132.0M-$322.0M$170.0M
Sales of and distributions from equity method investments$40.3M$40.3M$40.3M———
Property Plant And Equipment Additions$632.0M$699.0M$741.0M$978.0M$1.1B$1.0B
Proportional Modified EBITDA Equity Method Investments$238.0M$227.0M$216.0M$236.0M$231.0M$250.0M
Related Party Transaction, Rate0.010.010.010.040.000.00
Repayments of Long-Term Debt$1.3B$12.0M$660.0M$853.0M$122.0M$758.0M
Revenue Not from Contract with Customer, Other$363.0M$541.0M$576.0M$1.1B$671.0M$704.0M
Revenues Adjustments For Certain Risk Management Activities Costs$874.0M$923.0M$1.2B$2.2B$1.3B$1.3B
Stockholders' Equity, Other$3.0M$4.0M$7.0M$5.0M$2.0M-$26.0M
Stockholders' Equity, Period Increase (Decrease)-$184.0M$119.0M-$25.0M$25.0M-$60.0M$55.0M
Treasury stock, value, acquired$0.0$0.0$0.0$0.0$0.0$0.0
Unrealized Gain (Loss) on Derivatives and Commodity Contracts-$131.0M$13.0M-$157.0M-$32.0M$36.0M$51.0M
Unrealized Gain (Loss) on Derivatives, Net$2.0M-$4.0M$1.0M$0.0$1.0M$0.0
Cash Flow Hedge Reclassification, After Tax$0.0$0.0$1.0M$1.0M$0.0$1.0M
Asset Retirement Obligation Liabilities Incurred$118.5M$118.5M$118.5M———

Operating Income

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Operating income$696.0M$838.0M$793.0M$1.1B$945.0M$1.1B