Income StatementBalance SheetCash FlowSegments
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Williams Companies Cash Flow Statement

Operating, investing, and financing cash movements

Williams Companies generated $5.5B in operating cash flow over the trailing twelve months. After $3.7B in capital expenditures, free cash flow was $1.8B. Free cash flow decreased 0.4% year-over-year. Based on the Q3 2025 filing.

Net Cash From Operating (TTM)$5.5BNet Cash From Investing (TTM)-$4.3BNet Cash From Financing (TTM)-$2.0BCapital Expenditures (TTM)$3.7BDepreciation And Amortization Cf (TTM)$2.3BNet Change In Cash (TTM)-$496.0M
Latest FilingQ3 2025
Report Date2025-11-03
Market Cap$96.0B
P/E Ratio40.49
ROE19.0%

Investing

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Acquisitions, net of cash acquired$0.0$151.0M$249.0M$1.0M——
Capital expenditures$579.0M$682.0M$768.0M$1.0B$972.0M$954.0M
Payment for (Proceeds from) Other Investing Activity-$14.0M——-$6.0M-$4.0M—
Payments to Acquire Equity Method Investments$30.0M$19.0M$13.0M$163.0M$16.0M$13.0M
Payments To Retire Proceeds From Sale Of Property Plant And Equipment$32.0M$46.0M$32.0M$0.0$40.0M$40.0M
Sales of and distributions from equity method investments$40.3M$40.3M$40.3M———
Proceeds from Sale of Equity Method Investments$40.3M$40.3M$40.3M———
Proceeds from Sale of Equity Method Investments$40.3M$40.3M$40.3M———
Net cash from investing activities-$620.0M-$737.0M-$1.1B-$1.2B-$1.0B-$1.0B
Proceeds from Partial Sale of Haleon Investment$40.3M$40.3M$40.3M———

Operating

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Inventory write-down$2.0M$2.0M$2.0M$1.0M$3.0M$1.0M
Share of Profits (Losses) of Related Party$147.0M$147.0M$129.0M$155.0M$142.0M$152.0M
Change in accounts payable$90.0M-$98.0M$456.0M-$29.0M-$236.0M-$94.0M
Change in inventories$37.0M$3.0M$3.0M-$28.0M$89.0M$5.0M
Other working capital changes-$90.0M-$49.0M-$45.0M-$29.0M-$48.0M-$51.0M
Depreciation and amortization$540.0M$566.0M$565.0M$585.0M$605.0M$564.0M
Change in Derivative Assets and Liabilities$73.0M—$212.0M-$4.0M-$15.0M-$58.0M
Income (Loss) from Equity Method Investments$147.0M$147.0M$129.0M$155.0M$142.0M$152.0M
Income (Loss) from Equity Method Investments$147.0M$147.0M$129.0M$155.0M$142.0M$152.0M
Realized Gain (Loss) on Disposal of Equity Method Investment$37.3M$37.3M$37.3M———
Step Acquisition Remeasurement Gain$31.8M$31.8M$31.8M———
Income (Loss) from Equity Method Investments$147.0M$147.0M$129.0M$155.0M$142.0M$152.0M
Net cash from operating activities$1.3B$1.2B$1.2B$1.4B$1.5B$1.4B
Net income$426.0M$741.0M$517.0M$729.0M$583.0M$683.0M
Provision (benefit) for deferred income taxes$106.0M$209.0M$39.0M$107.0M$79.0M$256.0M
Distributions of earnings from equity method investees$206.0M$186.0M$209.0M$158.0M$254.0M$188.0M
Equity in earnings (losses) of equity method investees$147.0M$147.0M$129.0M$155.0M$142.0M$152.0M
Increase (Decrease) in Accounts and Notes Receivable$44.0M-$97.0M$536.0M-$82.0M-$219.0M-$83.0M
Increase (Decrease) in Other Current Assets-$3.0M$28.0M-$25.0M$40.0M—$7.0M
Current liabilities$142.0M-$32.0M$143.0M-$70.0M$220.0M—
Inventory write-downs$2.0M$2.0M$2.0M$1.0M$3.0M$1.0M
Unrealized Gain (Loss) on Derivatives and Commodity Contracts-$131.0M$0.0-$157.0M-$32.0M$36.0M$51.0M
Gain on Partial Sale of Investment$40.3M$40.3M$40.3M———
Income (Loss) from Equity Method Investments$147.0M$147.0M$129.0M$155.0M$142.0M$152.0M
Stock-based compensation$24.0M$21.0M$30.0M$30.0M$19.0M$21.0M

Financing

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Proceeds from minority shareholders$10.0M——$5.0M$14.0M$3.0M
Proceeds from issuance of debt$1.0M$1.5B$0.0$1.5B$1.5B—
Repayments of debt$1.3B$12.0M$660.0M$853.0M$122.0M$758.0M
Distributions to noncontrolling interests$66.0M$48.0M$64.0M$69.0M$62.0M$66.0M
Dividends paid$579.0M$579.0M$579.0M$610.0M$611.0M$611.0M
Payments Of Debt Issuance Costs$2.0M$13.0M$1.0M$12.0M$14.0M$3.0M
Other, net-$1.0M-$16.0M-$2.0M-$54.0M-$3.0M-$3.0M
Proceeds from (repayments of) short-term borrowings, net—-$628.0M—-$132.0M-$322.0M—
Net proceeds from sales of subsidiary shares$10.0M——$5.0M$14.0M$3.0M
Payment of Deferred Purchase Consideration-$1.0M-$16.0M-$2.0M-$54.0M-$3.0M-$3.0M
Noncontrolling interest transactions and other-$1.0M-$16.0M-$2.0M-$54.0M-$3.0M-$3.0M
Proceeds from Minority Shareholders$10.0M——$5.0M$14.0M$3.0M
Proceeds from Sale of Noncontrolling Interests$10.0M——$5.0M$14.0M$3.0M
Net cash from financing activities-$1.3B$0.0-$850.0M-$223.0M$377.0M-$1.3B
Noncontrolling Interests Activity and Other-$1.0M-$16.0M-$2.0M-$54.0M-$3.0M-$3.0M
Proceeds from Minority Shareholders$10.0M——$5.0M$14.0M$3.0M
Proceeds from issuance of common stock$0.0$3.0M$2.0M$5.0M—$4.0M
Repurchases of common stock$0.0$0.0$0.0———
Proceeds from Minority Shareholders$10.0M——$5.0M$14.0M$3.0M

Free Cash Flow

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Free cash flow$700.0M$561.0M$450.0M$421.0M$478.0M$485.0M

Other

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Net increase (decrease) in cash-$612.0M—-$702.0M$40.0M$803.0M—
Changes in related accounts payable and accrued liabilities$53.0M$17.0M—-$34.0M$91.0M$84.0M
Property, Plant and Equipment, Additions$632.0M$699.0M$741.0M$978.0M$1.1B$1.0B