WMB · Williams Companies, Inc.
One customer — 31% of revenue (the year ended December 31, 2025)
“For the year ended December 31, 2025, Transco's largest customer was Duke Energy Corporation, which accounted for approximately 9 percent of its operating revenue, and NWP's largest customer was Puget Sound Energy, Inc., which accounted for approximately 31 percent of its operating revenue.”
One customer — 9% of revenue (the year ended December 31, 2025)
“For the year ended December 31, 2025, Transco's largest customer was Duke Energy Corporation, which accounted for approximately 9 percent of its operating revenue, and NWP's largest customer was Puget Sound Energy, Inc., which accounted for approximately 31 percent of its operating revenue.”
Price & Indicators
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AI Brief
TL;DR.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
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Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
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| Adjusted EBITDA non-GAAP | $1.97B | Year-to-date 2026 | — |
| Adjusted Net Income non-GAAP | $614M | 2Q 2026 | — |
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| Available Funds from Operations non-GAAP | $1.45B | 2Q 2026 | — |
| Avg. daily firm reserved capacity | 1.4 | 2nd Qtr | — |
| Capital Investments (Excluding Acquisitions) | $1.64B | 2Q 2026 | — |
| Crude oil transportation volumes | 242 | 2nd Qtr | — |
| Debt-to-Adjusted EBITDA at Quarter End non-GAAP | 3.67 | 2Q 2026 | — |
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| Dividend Coverage Ratio non-GAAP | 2.26 | 2Q 2026 | — |
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| Gulfstream Non-consolidated Avg. daily transportation volumes | 1.3 | Q2 2026 | — |
| Modified EBITDA non-GAAP | $959M | Q2 2026 | — |
| MountainWest Avg. daily firm reserved capacity | 8 | Q2 2026 | — |
| Natural Gas Net Product Sales Volumes | 0.22 | 2nd Qtr | — |
| Natural Gas Product Sales Volumes | 5.52 | 2nd Qtr | — |
| NGL and Crude Oil Transportation volumes | 299 | 2nd Qtr | — |
| NGLs Net Product Sales Volumes | 14 | 2nd Qtr | — |
| NGLs Product Sales Volumes | 185 | 2nd Qtr | — |
| Non-consolidated NGL production | 82 | 2nd Qtr | — |
| Non-consolidated Plant inlet natural gas volumes | 1.12 | 2nd Qtr | — |
| Northeast G&P Consolidated Gathering volumes | 4.16 | Q2 2026 | — |
| Northeast G&P Consolidated NGL production | 166 | Q2 2026 | — |
| Northeast G&P Consolidated Plant inlet natural gas volumes | 2.04 | Q2 2026 | — |
| Northeast G&P Non-consolidated Gathering volumes | 6.8 | Q2 2026 | — |
| Northeast G&P Non-consolidated Plant inlet natural gas volumes | 1.12 | Q2 2026 | — |
| Northwest Pipeline LLC Avg. daily firm reserved capacity | 4 | Q2 2026 | — |
| Northwest Pipeline LLC Avg. daily transportation volumes | 2 | Q2 2026 | — |
| Transcontinental Gas Pipe Line Avg. daily firm reserved capacity | 20.6 | Q2 2026 | — |
| Transcontinental Gas Pipe Line Avg. daily transportation volumes | 14.1 | Q2 2026 | — |
| Transmission, Power & Gulf Crude oil transportation volumes | 237 | Q2 2026 | — |
| Transmission, Power & Gulf Gathering volumes | 0.73 | Q2 2026 | — |
| Transmission, Power & Gulf NGL equity sales | 9 | Q2 2026 | — |
| Transmission, Power & Gulf NGL production | 73 | Q2 2026 | — |
| Transmission, Power & Gulf Plant inlet natural gas volumes | 0.78 | Q2 2026 | — |
| Consolidated Gathering volumes | 4.16 | Full Year 2025 | — |
| Consolidated NGL production | 143 | Full Year 2025 | — |
| Consolidated Plant inlet natural gas volumes | 1.89 | Full Year 2025 | — |
| Non-consolidated Gathering volumes | 6.73 | Full Year 2025 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Oil & Gas Midstream — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
WMB
this stock
Williams Companies, Inc.
|
$91.90B | +25.0% | +13.8% | 29.9 | 2.2% |
|
ENB
Enbridge Inc
|
$109.64B | +5.1% | — | — | 1.4% |
|
EPD
Enterprise Products Partners L.P.
|
$82.68B | +18.9% | -6.4% | — | 0.8% |
|
ET
Energy Transfer LP
|
$73.22B | +28.4% | +3.5% | — | 0.8% |
|
KMI
Kinder Morgan, Inc.
|
$71.99B | +19.6% | +12.2% | 20.7 | 2.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| WMB | +3.9% | +2.4% | +1.6% | +5.0% | +25.0% |
| SPY | -0.4% | +2.6% | +10.7% | +2.7% | +12.5% |
| vs SPY | +4.3% | -0.2% | -9.2% | +2.3% | +12.5% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.