Skip to main content
WMB logo

WMB · Williams Companies, Inc. · Financials

Track WMB — free
$72.80 -1.77 (-2.37%) At close · Oct 14
Market Cap
$91.21B
Shares
1.22B
Volume · Oct 14 10.63M Avg daily vol (3M) 7.18M

Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.

Revenue
$11.95B +13.8%
FY2025 Revenue FY2007–FY2025
Net Income
$2.62B +17.7%
FY2025 Net Income FY2007–FY2025
Gross Margin
53.3% +2.9pp
FY2012 Gross Margin FY2010–FY2012
Operating Margin
35.11% +3.3pp
FY2025 Operating Margin FY2007–FY2025
Diluted EPS
$2.14 +17.6%
FY2025 Diluted EPS FY2007–FY2025
Operating Cash Flow
$5.9B +18.6%
FY2025 Operating Cash Flow FY2007–FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Line Item TTM FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018 FY2017 FY2016 FY2015 FY2014 FY2013 FY2012 FY2011 FY2010 FY2009 FY2008 FY2007
$12.2B $11.95B $10.5B $10.91B $10.97B $10.63B $7.72B $8.2B $8.69B $8.03B $7.5B $7.36B $7.64B $6.86B $7.49B $7.93B $6.64B $5.28B $11.89B $10.24B
$3.17B — — — — — — — — — — — — — $3.5B $3.93B $3.26B — — —
$3.9B — — — — — — — — — — — — — $3.99B $4B $3.38B — — —
— — — — — — — — — — — — — — 53.3% 50.39% 50.89% — — —
— $721M $708M $665M — — — — — — — — — — — — — — — —
$718M — $708M $665M $636M $558M $466M $558M $569M $594M $722M $741M $661M $512M $571M $477M $504M $330M $504M $461M
— — — — — — $328M $324M $333M $347M $356M $353M $209M $60M $43M $2M $0 — — —
$2.33B $2.35B $2.22B $2.07B $2.01B $1.84B $1.72B $1.71B $1.73B $1.74B $1.76B $1.74B $1.18B $815M $756M $661M $1.51B $1.47B $1.31B $1.08B
— — — — — — — — — — — — — — $26M — $45M — — —
$7.54B $7.75B $7.16B $6.6B $7.95B $8B $5.52B $6.28B $7.92B $7.1B $6.81B $7.13B $6.07B $5.49B $5.87B $6.06B $5.23B — — —
$4.66B $4.2B $3.34B $4.31B $3.02B $2.63B $2.2B $1.92B $768M $927M $689M $226M $1.57B $1.38B $1.61B $1.87B $1.41B $1.11B $2.53B $1.79B
— 35.11% 31.79% 39.53% 27.52% 24.76% 28.53% 23.42% 8.84% 11.54% 9.19% 3.07% 20.54% 20.04% 21.53% 23.54% 21.2% 20.95% 21.3% 17.45%
$6.99B $6.54B $5.56B $6.38B $5.03B $4.47B $3.92B $3.64B $2.49B $2.66B $2.45B $1.96B $2.75B $2.19B $2.37B $2.53B $2.91B $2.58B $3.84B $2.87B
$1.49B $1.44B $1.36B $1.24B $1.15B $1.18B $1.17B $1.19B $1.11B $1.08B $1.18B $1.04B $747M $510M — — — — — —
— $40M $67M $79M $15M $7M — — — — — — $43M $53M $28M $6M — — — —
$97M $69M $108M $99M $18M $6M -$43M $33M $92M -$25M $85M $102M $31M $0 -$2M $11M -$12M $2M $0 $12M
$783M $760M $560M $589M $637M $608M $328M $375M $396M $434M $397M $335M $144M $134M $111M $155M $143M $118M $137M —
— — — — — — — — — — — — — — — — $43M -$75M $1M —
$4.24B $3.63B $2.99B $4.41B $2.54B $2.07B $277M $1.06B $331M $535M -$375M -$1.71B $3.58B $1.08B $1.29B $1.2B $385M $550M — —
$994M $857M $640M $1.01B $425M $511M $79M $335M $138M -$1.97B -$25M -$399M $1.25B $401M $360M $124M $114M $204M $677M $490M
$3.07B $2.62B $2.23B $3.18B $2.05B $1.52B $211M $850M -$155M $2.17B -$424M -$571M $2.11B $430M $859M $376M -$1.1B $285M $1.42B $990M
— 21.91% 21.18% 29.15% 18.69% 14.27% 2.73% 10.36% -1.78% 27.07% -5.65% -7.76% 27.68% 6.27% 11.47% 4.74% -16.53% 5.4% 11.93% 9.67%
$171M $150M $121M $124M $68M $45M -$13M -$136M $348M $335M $74M -$743M $225M $238M $206M $285M $175M $76M $174M $90M
$3.07B $2.62B $2.22B $3.18B $2.05B $1.51B $208M $847M -$156M $2.17B -$424M — — — — — — — — —
$3.09B $2.64B $2.3B $3.2B $2.06B $1.58B $314M $921M -$123M $2.28B -$321M -$672M $1.96B $628M $886M $288M -$1.01B — — —
USD/shares $2.51 $2.14 $1.82 $2.61 $1.68 $1.25 $0.17 $0.70 -$0.16 $2.63 -$0.57 -$0.76 $2.94 $0.63 $1.39 $0.64 -$1.88 $0.49 $2.44 $1.66
USD/shares $2.51 $2.14 $1.82 $2.60 $1.67 $1.24 $0.17 $0.70 -$0.16 $2.62 -$0.57 -$0.76 $2.92 $0.62 $1.37 $0.63 -$1.86 $0.49 $2.40 $1.63
shares — 1.22B 1.22B 1.22B 1.22B 1.22B 1.21B 1.21B 973.63M 826.18M 750.67M 749.27M 719.33M 682.95M 619.79M 588.55M 584.55M 581.67M 581.34M 596.17M
shares — 1.23B 1.22B 1.22B 1.22B 1.22B 1.22B 1.21B 973.63M 828.52M 750.67M 749.27M 723.64M 687.19M 625.49M 598.18M 590.7M 585.96M 592.72M 609.87M
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2007–FY2025: $1.14B in buybacks, $24.87B in dividends.

Debt Profile

Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.

Reported debt balances

Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.

Reported balanceAs ofAmountSource
Current long-term debt and lease obligations 2026-06-30 USD 2,197,000,000 10-Q filed 2026-08-03
Noncurrent long-term debt and lease obligations 2026-06-30 USD 28,121,000,000 10-Q filed 2026-08-03
Instrument and agreement coverage is incomplete. Additional filings are awaiting review.
2 filings have incomplete source or extraction coverage. Verified observations are shown; missing observations do not establish that debt was unchanged.

Covenants

Some sections could not be verified in 1 agreement document. Other restrictions or tests may apply.

Covenant terms have not yet been verified for this profile.

The balance figures do not establish whether covenants apply or whether the company complies with them.

Loans, facilities and notes

5.000% Senior Notes due 2029

Note · The Williams Companies, Inc.

Reference: 5.000% Senior Notes due 2029

Active
Original principal
USD 500,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 5% Reported 2026-09-10 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-09-10 Original principal USD 500,000,000 Exact source document Parent 8-K filing · 2026-09-10
    On September 8, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Underwriting Agreement is filed as Exhibit 1.1 to this report.
    Issuer evidence: On September 8, 2026, The Williams Companies, Inc. (the “Company”) issued a press release announcing that it had priced the Offering (as defined below). A copy of the press release is furnished and attached as Exhibit 99.1 hereto and is incorporated herein by reference.
    Supporting evidence: On September 8, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Underwriting Agreement is filed as Exhibit 1.1 to this report.
    Supporting evidence: On September 8, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Underwriting Agreement is filed as Exhibit 1.1 to this report.

5.000% Senior Notes due 2029

Note · The Williams Companies, Inc.

Reference: 5.000% Senior Notes due 2029

Active
Original principal
USD 500,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 5% Reported 2026-09-10 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-09-10 Original principal USD 500,000,000 Exact source document Parent 8-K filing · 2026-09-10
    On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).
    Issuer evidence: On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).
    Supporting evidence: On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).
    Supporting evidence: On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).

5.600% Senior Notes due 2033

Note · The Williams Companies, Inc.

Reference: 5.600% Senior Notes due 2033

Active
Original principal
USD 1,000,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 5.6% Reported 2026-09-10 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-09-10 Original principal USD 1,000,000,000 Exact source document Parent 8-K filing · 2026-09-10
    On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).
    Issuer evidence: On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).
    Supporting evidence: On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).
    Supporting evidence: On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).

5.600% Senior Notes due 2033

Note · The Williams Companies, Inc.

Reference: 5.600% Senior Notes due 2033

Active
Original principal
USD 1,000,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 5.6% Reported 2026-09-10 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-09-10 Original principal USD 1,000,000,000 Exact source document Parent 8-K filing · 2026-09-10
    On September 8, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Underwriting Agreement is filed as Exhibit 1.1 to this report.
    Issuer evidence: On September 8, 2026, The Williams Companies, Inc. (the “Company”) issued a press release announcing that it had priced the Offering (as defined below). A copy of the press release is furnished and attached as Exhibit 99.1 hereto and is incorporated herein by reference.
    Supporting evidence: On September 8, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Underwriting Agreement is filed as Exhibit 1.1 to this report.
    Supporting evidence: On September 8, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Underwriting Agreement is filed as Exhibit 1.1 to this report.

5.800% Senior Notes due 2036

Note · The Williams Companies, Inc.

Reference: 5.800% Senior Notes due 2036

Active
Original principal
USD 750,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 5.8% Reported 2026-09-10 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-09-10 Original principal USD 750,000,000 Exact source document Parent 8-K filing · 2026-09-10
    This Note is one of the series designated on the face hereof as 5.800% Senior Notes due 2036 (the “Notes”) which was issued under the Fourteenth Supplemental Indenture to the Base Indenture dated as of September 10, 2026 (the “Supplemental Indenture,” together with the Base Indenture, the “Indenture”) and which is initially limited to $750,000,000 in principal amount.
    Issuer evidence: This Note is one of a duly authorized issue of Securities (the “Securities”) of The Williams Companies, Inc. (the “Company,” which term includes any successor Person under the Base Indenture hereinafter referred to), issued and issuable in one or more series under an Indenture, dated as of December 18, 2012, (the “Base Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee,” which term includes any successor trustee under the Base Indenture), to which Base Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitation of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities issued thereunder and of the terms upon which said Securities are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof as 5.800% Senior Notes due 2036 (the “Notes”) which was issued under the Fourteenth Supplemental Indenture to the Base Indenture dated as of September 10, 2026 (the “Supplemental Indenture,” together with the Base Indenture, the “Indenture”) and which is initially limited to $750,000,000 in principal amount.
    Supporting evidence: This Note is one of the series designated on the face hereof as 5.800% Senior Notes due 2036 (the “Notes”) which was issued under the Fourteenth Supplemental Indenture to the Base Indenture dated as of September 10, 2026 (the “Supplemental Indenture,” together with the Base Indenture, the “Indenture”) and which is initially limited to $750,000,000 in principal amount.
  2. Issuance · 2026-09-10 Original principal USD 750,000,000 Exact source document Parent 8-K filing · 2026-09-10
    On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).
    Issuer evidence: On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).
    Supporting evidence: On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).
    Supporting evidence: On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).

5.800% Senior Notes due 2036

Note · The Williams Companies, Inc.

Reference: 5.800% Senior Notes due 2036

Active
Original principal
USD 750,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 5.8% Reported 2026-09-10 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-09-10 Original principal USD 750,000,000 Exact source document Parent 8-K filing · 2026-09-10
    On September 8, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Underwriting Agreement is filed as Exhibit 1.1 to this report.
    Issuer evidence: On September 8, 2026, The Williams Companies, Inc. (the “Company”) issued a press release announcing that it had priced the Offering (as defined below). A copy of the press release is furnished and attached as Exhibit 99.1 hereto and is incorporated herein by reference.
    Supporting evidence: On September 8, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Underwriting Agreement is filed as Exhibit 1.1 to this report.
    Supporting evidence: On September 8, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Underwriting Agreement is filed as Exhibit 1.1 to this report.

6.400% Senior Notes due 2056

Note · The Williams Companies, Inc.

Reference: 6.400% Senior Notes due 2056

Active
Original principal
USD 500,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 6.4% Reported 2026-09-10 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-09-10 Original principal USD 500,000,000 Exact source document Parent 8-K filing · 2026-09-10
    This Note is one of the series designated on the face hereof as 6.400% Senior Notes due 2056 (the “Notes”) which was issued under the Fourteenth Supplemental Indenture to the Base Indenture dated as of September 10, 2026 (the “Supplemental Indenture,” together with the Base Indenture, the “Indenture”) and which is initially limited to $500,000,000 in principal amount.
    Issuer evidence: This Note is one of a duly authorized issue of Securities (the “Securities”) of The Williams Companies, Inc. (the “Company,” which term includes any successor Person under the Base Indenture hereinafter referred to), issued and issuable in one or more series under an Indenture, dated as of December 18, 2012, (the “Base Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee,” which term includes any successor trustee under the Base Indenture), to which Base Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitation of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities issued thereunder and of the terms upon which said Securities are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof as 6.400% Senior Notes due 2056 (the “Notes”) which was issued under the Fourteenth Supplemental Indenture to the Base Indenture dated as of September 10, 2026 (the “Supplemental Indenture,” together with the Base Indenture, the “Indenture”) and which is initially limited to $500,000,000 in principal amount.
    Supporting evidence: This Note is one of the series designated on the face hereof as 6.400% Senior Notes due 2056 (the “Notes”) which was issued under the Fourteenth Supplemental Indenture to the Base Indenture dated as of September 10, 2026 (the “Supplemental Indenture,” together with the Base Indenture, the “Indenture”) and which is initially limited to $500,000,000 in principal amount.
  2. Issuance · 2026-09-10 Original principal USD 500,000,000 Exact source document Parent 8-K filing · 2026-09-10
    On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).
    Issuer evidence: On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).
    Supporting evidence: On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).
    Supporting evidence: On September 10, 2026, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated September 8, 2026 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on September 9, 2026 (the “Prospectus Supplement”).

6.400% Senior Notes due 2056

Note · The Williams Companies, Inc.

Reference: 6.400% Senior Notes due 2056

Active
Original principal
USD 500,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 6.4% Reported 2026-09-10 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-09-10 Original principal USD 500,000,000 Exact source document Parent 8-K filing · 2026-09-10
    On September 8, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Underwriting Agreement is filed as Exhibit 1.1 to this report.
    Issuer evidence: On September 8, 2026, The Williams Companies, Inc. (the “Company”) issued a press release announcing that it had priced the Offering (as defined below). A copy of the press release is furnished and attached as Exhibit 99.1 hereto and is incorporated herein by reference.
    Supporting evidence: On September 8, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Underwriting Agreement is filed as Exhibit 1.1 to this report.
    Supporting evidence: On September 8, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $500 million aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Notes”), $1.0 billion aggregate principal amount of its 5.600% Senior Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of its 5.800% Senior Notes due 2036 (the “2036 Notes”) and $500 million aggregate principal amount of its 6.400% Senior Notes due 2056 (the “2056 Notes” and, together with the 2029 Notes, the 2033 Notes and the 2036 Notes, the “Notes”). The Underwriting Agreement is filed as Exhibit 1.1 to this report.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue
9.82×
Peer median 4.32×
EV/EBIT
25.71×
Peer median 14.76×
P/E (TTM)
29.71×
Peer median 21.54×

Peer medians compare against the 14 similar-size Oil & Gas Midstream companies (of 43 listed).

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018
Transmission Power Gulf $5,443,000,000 $4,628,000,000 $4,150,000,000 — — — — —
West $2,847,000,000 $2,669,000,000 $2,135,000,000 $2,561,000,000 $2,026,000,000 $1,523,000,000 $3,311,000,000 $4,410,000,000
Gas NGL Marketing Services $2,175,000,000 $1,789,000,000 $2,878,000,000 $3,233,000,000 $4,211,000,000 $1,631,000,000 — —
Northeast GP $2,168,000,000 $2,025,000,000 $2,033,000,000 — — — — —
Corporate And Other — — $506,000,000 $651,000,000 $345,000,000 $34,000,000 $30,000,000 $34,000,000
Atlantic Gulf — — — — — — $3,190,000,000 $3,003,000,000
Northeast G and P — $2,025,000,000 $2,033,000,000 $1,802,000,000 $1,634,000,000 $1,529,000,000 $1,500,000,000 $1,283,000,000
Sequent — — — — -$86,000,000 $0 $0 —
Transmission and Gulf of America — $4,628,000,000 $4,150,000,000 $4,047,000,000 — — — —
Transmission and Gulf of Mexico — — $4,150,000,000 $4,047,000,000 $3,786,000,000 $3,469,000,000 $3,640,000,000 $3,447,000,000

By Product & Service (USD)

Component FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018
Service $8,348,000,000 $7,628,000,000 $7,026,000,000 $6,536,000,000 $6,001,000,000 $5,924,000,000 $5,933,000,000 $5,502,000,000
Non Regulated Service Monetary Consideration $4,372,000,000 $3,970,000,000 $3,533,000,000 $3,258,000,000 $2,877,000,000 $2,756,000,000 $2,884,000,000 $2,921,000,000
Regulated Service $3,721,000,000 $3,419,000,000 $3,274,000,000 $3,067,000,000 $2,955,000,000 $2,846,000,000 $2,780,000,000 $2,362,000,000
Product $3,290,000,000 $2,991,000,000 $2,779,000,000 $4,556,000,000 $4,536,000,000 $1,671,000,000 $2,063,000,000 $2,784,000,000
Non Regulated Service Commodity Consideration $192,000,000 $134,000,000 $146,000,000 $260,000,000 $238,000,000 $129,000,000 $203,000,000 $400,000,000
Other Service $155,000,000 $140,000,000 $115,000,000 $122,000,000 $93,000,000 $253,000,000 $210,000,000 $144,000,000
Energy Commodities And Service $120,000,000 -$250,000,000 $956,000,000 -$387,000,000 -$148,000,000 -$5,000,000 $2,000,000 —
NGL and Natural Gas Product Sales — — — — — $1,669,000,000 $2,063,000,000 $2,760,000,000
Other Product Sales — — — — — — — $17,000,000
Key facts CIK 107263 CUSIP 969457100 13F (30d) 147 filings 143 filers Visit website Investor relations