The Williams Companies Inc. (WMB)

NYSE: WMB · USD

$74.3

+0.16 (+0.2%)· Recorded snapshot

英語版にフォールバックJA

翻訳中のため英語版を表示しています

このレポートはまだ翻訳されていません。翻訳キューが追いついたら数分後に更新してください。

StockMarketAgent Research · Analyzed 2026-09-28

Our latest published analysis: WMB rated Sell

The Williams Companies Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$38.3 / share

Potential value

$41.9 / share

Upside to FV

-44.6%

from $74.3

Moat

7.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$84.7B
Revenue (ttm)	12.3B
Net income (ttm)	3.1B
EPS (ttm)	$2.51
Shares out	1.2B
P/E (trailing)	29.6x
P/E (forward)	26.8x
Dividend	$2.10 (2.83%)
Volume	6,205,452
Beta	0.66

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 12.3B
Net income (ttm): 3.1B
EPS (ttm): $2.51
P/E (trailing): 29.6x
P/E (forward): 26.8x
Market cap: $84.7B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$12.78B	$17.77B	$12.00B	$12.63B	$14.90B	+3.9%
Gross profit	$4.75B	$5.50B	$6.80B	$6.17B	$5.12B	+1.9%
Operating income	$2.63B	$3.02B	$4.31B	$3.34B	$4.20B	+12.4%
Net income	$1.52B	$2.05B	$3.18B	$2.23B	$2.62B	+14.6%
EPS (diluted)	$1.24	$1.67	$2.60	$1.82	$2.14	+14.6%
EBITDA	$5.09B	$5.70B	$7.71B	$6.57B	$7.41B	+9.8%
R&D	—	—	—	—	—	—
SG&A	$558.0M	$636.0M	$665.0M	$708.0M	$721.0M	+6.6%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	ホールド
ALB	Albemarle Corporation	11.4B	198.9x	1.9x	4.1%	+12.8%	+1.9%	ホールド
ANET	Arista Networks Inc.	235.7B	59.1x	22.4x	284.8%	+32.0%	+19.7%	売り
BKR	Baker Hughes Company	54.3B	18.8x	1.9x	11.7%	+7.0%	+20.1%	売り
COP	ConocoPhillips	179B	19.8x	2.8x	11.6%	+16.8%	+73.8%	ホールド
CVX	Chevron Corporation	448.9B	22.0x	2.2x	8.2%	+12.6%	+54.1%	縮小

Base and Bull scenarios

Base55%

Price target

$38.34

-44.6% from spot

The base scenario reflects the house modal expectation where execution of fully subscribed take-or-pay pipeline laterals and the integration of Momentum drive solid revenue and earnings expansion. Elevated transformation build expenditures peak across the near term before moderating, enabling free cash flow conversion to normalize. This path generates a target of $38.34 with an assessed probability of 55.0%, representing an expected return of -44.6% relative to $69.26.

Line 200 expansion and lateral projects commercialize in line with multi-year schedules
Operating margins stabilize near normalized levels despite marketing segment fluctuations
Capital intensity declines post-build phase toward ongoing maintenance requirements

Bull20%

Price target

$41.89

-39.5% from spot

Under the bull scenario, power generation interconnect demand accelerates rapidly, driving data center multi-lateral contract expansions and higher recontracting tariffs across the Transco corridor. Momentum synergy capture exceeds targets, expanding operating margins and lifting compound earnings growth toward double digits. Supported by fully contracted take-or-pay capacity, this path yields a target of $41.89 with an estimated probability of 20.0% and an implied return of -39.5% from the reference price of $69.26.

Power generation interconnect demand accelerates with multi-lateral utility commitments
Momentum acquisition integration exceeds synergy expectations with margin expansion
Terminal valuation multiple expands reflecting premier infrastructure scarcity

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($38.34). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
6.9%	$39.0	$39.0	$39.0	$39.0	$39.0
7.4%	$38.7	$38.7	$38.7	$38.7	$38.7
7.9%	$38.3	$38.3	$38.3	$38.3	$38.3
8.4%	$38.0	$38.0	$38.0	$38.0	$38.0
8.9%	$37.7	$37.7	$37.7	$37.7	$37.7

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E26.8

P25 n/aP50 n/aP75 n/a

Trailing P/E27.6

P25 n/aP50 n/aP75 n/a

ROE21.5

P25 n/aP50 n/aP75 n/a

ROIC8

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All WMB indicators

Market & fundamental data

Available fields

278

Groups with data

Currency

USD

Showing 278 of 278 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000107263
Company name	The Williams Companies, Inc.
Country	United States
Country code	US
CUSIP number	969457100
Earnings date	2026-11-02
Earnings time	amc
Employees	5,987
Employees change	158
Employees growth	2.71%
Enterprise value	$121.4B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1908
In index	SP500
Industry	Oil & Gas Midstream
Is primary listing	Yes
Is SPAC	No
ISIN number	US9694571004
Last 10-K release date	2026-02-24
Last earnings date	2026-08-03
Last refreshed	2026-10-28
Last stock split date	1997-12-30
Last stock split type	Forward
Market cap	$90.8B
Market cap category	Large-Cap
Next earnings date	2026-11-02
Options	Yes
Price	$74.25
Price currency	USD
Sector	Energy
SIC code	4922
Stock price date	2026-10-28
Symbol	WMB
U.S. state	Oklahoma
Website	https://www.williams.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	32.71x
Average P/E ratio (10Y)	103.78x
Average P/E ratio (3Y)	24.85x
Average P/E ratio (5Y)	23.42x
Earnings yield	3.38%
EV/Earnings	39.52x
EV/EBIT	25.81x
EV/EBITDA	17.25x
EV/Sales	9.85x
FCF / EV yield	-0.14%
FCF yield	-0.19%
Forward EV/Sales	9.29x
Forward P/E	29.86x
Forward P/S	6.94x
Graham number	24.64631
Graham upside	-66.77%
Industry forward P/E	15.26x
Industry P/E	17.69x
Lynch fair value	$54.36
Lynch upside	-26.72%
P/(OCF - SBC) ratio	15.35x
P/B ratio	6.89x
P/E ratio	29.58x
P/OCF ratio	15.14x
P/S ratio	7.36x
PEG ratio	1.46x
Price / tangible book value	13.79x
Price/EBITDA ratio	12.9x
Sector forward P/E	10.06x
Sector P/E	15.08x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	38.14%
EBITDA margin	57.07%
Effective tax rate	23.45%
Gross margin	63.64%
Operating margin	38.14%
Pretax margin	34.39%
Profit margin	24.94%
Profit per employee	$512,778
Profitable quarters	25
Profitable years	7
Revenue per employee	$2.1M
ROA	5.03%
ROA (5Y)	4.32%
ROCE	8.69%
ROE	21.5%
ROE (5Y)	16.75%
ROIC	7.95%
ROIC (5Y)	7.05%
SBC / revenue	0.67%
Tax / revenue	8.07%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	26.23%
EPS growth (Q)	51.22%
EPS growth (QoQ)	-3.48%
EPS growth 3Y	5.15%
EPS growth 5Y	21.48%
EPS growth quarters	3
EPS growth years	1
Gross profit growth	14.72%
Gross profit growth (Q)	8.97%
Gross profit growth 3Y	8.89%
Gross profit growth 5Y	9.5%
Net income growth	26.51%
Net income growth (Q)	51.47%
Net income growth (QoQ)	-4.28%
Net income growth 3Y	4.99%
Net income growth 5Y	21.66%
Net income growth quarters	3
Net income growth years	1
OCF growth	12.16%
OCF growth (Q)	-5.1%
OCF growth (QoQ)	-14.16%
OCF growth 10Y	8.45%
OCF growth 3Y	2.29%
OCF growth 5Y	11.12%
Operating income growth	26.75%
Operating income growth (Q)	23.81%
Operating income growth 3Y	4.29%
Operating income growth 5Y	11.89%
Revenue growth	8.45%
Revenue growth (Q)	7.8%
Revenue growth (QoQ)	-12.69%
Revenue growth 10Y	5.52%
Revenue growth 3Y	4.58%
Revenue growth 5Y	6.55%
Revenue growth quarters	1
Revenue growth years	1

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-6.2B
Depreciation and amortization	$2.3B
EBIT	$4.7B
EBITDA	$7B
EPS	$2.51
FCF per share	$-0.14
Financing cash flow	$-609M
Free cash flow	$-174M
Free cash flow minus SBC	$-257M
Gross profit	$7.8B
Income taxes	$994M
Investing cash flow	$-6.1B
Net borrowing	$2.2B
Net cash flow	$-700M
Net income	$3.1B
Operating cash flow minus SBC	$5.9B
Operating income	$4.7B
Revenue	$12.3B
Stock-based compensation	$83M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	1.18
Book value per share	$10.76
Debt / EBITDA	4.33
Debt / equity	2
Interest coverage	3.15
Long-term assets	$57.5B
Long-term liabilities	$38.7B
Net cash (debt)	$-30.6B
Net cash / market cap	-33.71%
Net debt / EBITDA	4.35
Net debt / equity	1.99
Piotroski F-Score	6
Property, plant and equipment	$44.4B
Shareholders' equity	$15.4B
Tangible book value	$6.6B
Tangible book value per share	$5.38
Total assets	$60.6B
Total cash	$203M
Total debt	$30.8B
Total liabilities	$45.2B
WACC	6.83%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.21
Current assets	$3.1B
Current liabilities	$6.5B
Current ratio	0.48
Inventory turnover	13.38
Net working capital	$-954M
Quick ratio	0.31
Working capital	$-3.4B
Working capital turnover	-3.97

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-0.17%
Dividend growth	5.06%
Dividend growth (10Y)	-0.21%
Dividend growth (3Y)	5.49%
Dividend growth (5Y)	4.95%
Dividend growth years	8
Dividend payment date	2026-09-28
Dividend payment years	53
Dividend payout frequency	Quarterly
Dividend per share	$2.10
Dividend yield	2.83%
Ex-dividend date	2026-09-11
Last dividend	$0.53
Payout ratio	83.67%
Shareholder yield	2.66%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	152.83%
10Y return CAGR	15.45%
10Y total return	320.59%
150-day SMA	$72.99
15Y price change	138.45%
15Y return CAGR	13.08%
15Y total return	532.47%
1D price change	0.22%
1M price change	7.18%
1M total return	7.18%
1W price change	5.55%
1W total return	5.55%
1Y price change	28.72%
1Y return CAGR	32.66%
1Y total return	32.64%
20-day SMA	$71.87
200-day SMA	$72.28
20Y price change	202.86%
20Y return CAGR	11.56%
20Y total return	791.68%
3M price change	4.86%
3M total return	5.62%
3Y price change	118%
3Y return CAGR	34.6%
3Y total return	143.88%
50-day SMA	$72.10
50-day SMA vs 200-day SMA	50under200
52-week high	$80.08
52-week high date	2026-05-20
52-week low	$56.19
52-week low date	2025-11-04
5Y price change	162.3%
5Y return CAGR	26.72%
5Y total return	226.74%
6M price change	3.66%
6M total return	5.18%
All-time high	$80.08
All-time high date	2026-05-20
All-time low	$0.78
All-time low date	2002-07-26
Average true range (ATR)	$2.07
Average volume	7.8M
Beta (1Y)	-0.33
Beta (2Y)	0.29
Beta (5Y)	0.66
Change from 52-week high	-7.27%
Change from 52-week low	32.14%
Change from all-time high	-7.3%
Change from all-time low	9,416.67%
Change from open	-0.2%
Day's gap	0.42%
Dollar volume	$460.8M
High price	$74.99
Low price	$73.48
Monthly RSI	61.98
Open price	$74.40
Position in 52-week range	50.99%
Premarket change	0.42%
Premarket close	$74.09
Premarket price	$74.40
Premarket volume	2.2K
Previous close	$74.09
Price vs 150-day SMA	1.7%
Price vs 20-day SMA	3.29%
Price vs 200-day SMA	2.7%
Price vs 50-day SMA	2.96%
Relative volume	0.8
RSI	57.72
Sharpe ratio	1.1
Sharpe ratio (3Y)	1.17
Sharpe ratio (5Y)	0.91
Sortino ratio	1.88
Sortino ratio (3Y)	1.92
Sortino ratio (5Y)	1.54
Volume	6.2M
Weekly RSI	54.52
YTD price change	23.49%
YTD total return	26.21%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	1.2B
Float percentage	99.4%
Shares change (QoQ)	-0.08%
Shares change (YoY)	0.17%
Shares held by insiders	0.48%
Shares held by institutions	91.42%
Shares outstanding	1.2B
Short % of float	2.24%
Short % of shares	2.22%
Short ratio	3.4 days

Deeper analysis on WMB

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this WMB report

What is the latest published WMB stock rating?

The Williams Companies Inc. is shown with Sell in the latest published report, analyzed 2026-09-28. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full WMB analysis?

The full latest published report, analyzed 2026-09-28, lives at /stocks/WMB/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for WMB?

The latest published report analyzed 2026-09-28 gives WMB a fair value of USD 38 and a potential value of USD 42. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the WMB page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-28). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellWMB · Fair value $38.3-44.6%

Read full analysis →

Category	Score	Reading
Valuation	1.5
Management	8.5
Balance Sheet	1.5
Profitability	6.5
Revenue Growth	6.0
Risk Assessment	3.5
Competitive Moat	7.5
Earnings Quality	9.0
Capital Efficiency	5.5

The Williams Companies Inc. (WMB)

Our latest published analysis: WMB rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · WMB

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All WMB indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on WMB

Frequently asked questions

レーティング履歴