Executive readout · one minute
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WMB
$75.20
+2.96%
WMB · Williams Companies, Inc.
$75.20
+2.16 (+2.96%)
At close · Aug 14
View the 10-K filed Feb 24, 2026
Customer concentration
— top customer 31% of revenue
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.”
Market Cap
$90.15B
Shares
1.22B
All earnings calls
Earnings call · FY2025 Q4
Williams Companies, Inc. Q4 FY2025 Earnings Call
Williams Companies, Inc. Q4 FY2025 Earnings Call
Forward guidance
9 guided metrics
Management's latest ranges and targets are included below.
Research coverage
2 live sources
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Revenue · derived Q4
$3.20B
+16.6% YoY
Net income · derived Q4
$734.00M
+51% YoY
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Forward guidance
From the 8-K filed Feb 10, 2026.
| Metric | Period | Guided | Basis |
|---|---|---|---|
|
Adjusted EBITDA
2026
|
$8.05B – $8.35B | Non-GAAP | |
|
Adjusted income from continuing operations - diluted earnings pe
table
2026
|
$2.20 – $2.38 | Non-GAAP | |
|
Growth capex
2026
|
$6.1B – $6.7B | — | |
|
Maintenance capex
2026
|
$850M – $950M | — | |
|
Available funds from operations (AFFO)
table
2026
|
$6.09B – $6.32B | Non-GAAP | |
|
Net income (loss) from continuing operations
table
2026
|
$3.01B – $3.24B | — | |
|
Modified EBITDA
table
2026
|
$8.24B – $8.54B | — | |
|
Adjusted income from continuing operations - diluted earnings pe
table
2026
|
$2.20 – $2.38 | Non-GAAP | |
|
AFFO per common share
table
2026
|
$4.95 – $5.14 | Non-GAAP |
Quarter detail
How the reported period landed and where the business moved.
SEC filing · Item 2.02
8-K earnings release
Filed Feb 10, 2026 · complete as-filed document
SEC periodic report
10-K report
Filed Feb 24, 2026 · complete as-filed document