WMB · Williams Companies, Inc.
One customer — 31% of revenue (the year ended December 31, 2025)
“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”
Price & Indicators
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Metrics snapshot
Useful current figures from the complete screener profile.
AI Brief
Q2 FY26 earnings call · Aug 4, 2026TL;DR. Williams raised 2026 adjusted EBITDA guidance to $8.3–$8.5 billion (midpoint up $200M to $8.4B) on stronger base results, announced a $5.5B acquisition of Momentum Midstream with two accompanying Transco/LEG expansion projects, and lifted its long-term EBITDA/EPS CAGR target to 11%+.
- + Raised 2026 adjusted EBITDA guidance to $8.3B–$8.5B with $200M midpoint increase reflecting Momentum deal.
- + Announced $5.5B strategic acquisition of Momentum Midstream, expected to be accretive to AFFO/EPS.
- + Lifted long-term 2025–2030 EBITDA/EPS CAGR target from 10%+ to 11%+.
- + Power Innovation JV with Blackstone adds $5.34B of low-cost capital; Socrates Phase 1 completed on time and on budget.
- − Year-end 2026 leverage expected at ~3.9x, with company noting leverage tightness is a 2026/2027 issue.
- − Higher interest expense and net debt reflect funding of the Momentum acquisition and growth capex.
- − Q2 2026 cash flow from operations declined $74M YoY due to Transco rate refunds.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
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 SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
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.
|
$84.72B | +14.2% | +13.8% | 27.6 | 2.0% |
|
ENB
Enbridge Inc
|
$102.08B | -2.5% | — | — | 0.8% |
|
EPD
Enterprise Products Partners L.P.
|
$79.36B | +12.4% | -6.4% | 12.7 | 0.8% |
|
ET
Energy Transfer LP
|
$69.52B | +20.7% | +3.5% | — | 0.9% |
|
KMI
Kinder Morgan, Inc.
|
$68.47B | +10.8% | +12.2% | 19.7 | 2.1% |
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 | -3.3% | -8.6% | -6.0% | -8.6% | +14.2% |
| SPY | -1.2% | -0.4% | +13.1% | -0.4% | +12.1% |
| vs SPY | -2.1% | -8.2% | -19.1% | -8.2% | +2.1% |
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.