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Williams Companies WMB West — Proportional Modified EBITDA Equity Method Investments

Other segment segments

Northeast G & P
-$161M-8.1%
Transmission, Power & Gulf
-$37M+9.8%
Gas & NGL Marketing Services
-$16M

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Other financials

Income statement

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Revenue$3.1B+9.8%
Operating income$1.1B+32.3%
Net income$827.0M+51.5%
EPS (diluted)$0.68+51.1%

Balance sheet

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Cash & equivalents$70.0M-90.8%
Total debt$26.6B+2.9%
Total equity$12.5B+0.7%
Total assets$55.7B+3.5%

Cash flow

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Operating cash flow$1.4B+15.8%
CapEx$954.0M+39.9%
Free cash flow$485.0M-13.5%

Valuation

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Market cap$87.49B+18.9%
P/E32.3×+13.1×
P/S7.4×+1.6×

Profitability

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Operating margin34.3%-0.2pp
Net margin20.6%-6.7pp
FCF margin16%-13.4pp

Returns & leverage

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Return on equity19%-4.7pp
Debt / equity2.1×+0.1×
Current ratio0.4×-0.1×

Where this comes from

Reported directly by Williams Companies in its filing.

Tagged under the XBRL concept wmb:ProportionalModifiedEBITDAEquityMethodInvestments.

The source filing: Williams Companies’s 10-Q, filed November 3, 2025.

Filed
Nov 3, 2025
Fiscal quarter
Q4 FY2025
Calendar quarter
Q4 2025
Accession
0000107263-25-000145
Three Months Ended September 30, 2025Transmission, Power & Gulf / Three Months Ended September 30, 2025Northeast G&PWestGas & NGL Marketing Services (1)Total
Operating and administrative expenses (3)(290)(114)(150)(14)
Recoverable power, transportation, and storage costs (4)(64)(42)(17)
Other segment income (expenses) - net (5)37(5)(28)
Proportional Modified EBITDA of equity-method investments371613616
Total Modified EBITDA of reportable segments$973$505$342$54$1,874
Reconciliation of Modified EBITDA:
Contribution from upstream operations, corporate, and other business activities93
Depreciation, depletion, and amortization expenses(564)

Item 1. Financial Statements

FAQ

What is Williams Companies's west — proportional modified EBITDA equity method investments?
Williams Companies (WMB) reported west — proportional modified EBITDA equity method investments of -$36M in Q3 2025.
How has Williams Companies's west — proportional modified EBITDA equity method investments changed year-over-year?
Williams Companies's west — proportional modified EBITDA equity method investments decreased by 2.9% year-over-year, from -$35M to -$36M.
What is the long-term trend for Williams Companies's west — proportional modified EBITDA equity method investments?
Over 3 years (2021 to 2024), Williams Companies's west — proportional modified EBITDA equity method investments has grown at a 7.9% compound annual growth rate (CAGR), from $105M to -$132M.
What does west — proportional modified EBITDA equity method investments mean?
This metric reflects the West segment's proportional share of Modified EBITDA generated by unconsolidated entities accounted for under the equity method. It provides visibility into the operational performance of joint ventures and partnerships that are not fully consolidated in the financial statements.

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