PerpEquities

Equity · Energy

Is Williams Companies (WMB) tradable as a perp? Not yet

The Williams Companies, Inc. is a US energy infrastructure firm operating natural gas pipelines, gathering, processing, and NGL services across the US in four segments.

Not yet listed on any perp exchange

No perpetual-futures venue lists WMB yet. We track it continuously; as soon as the first listing appears, this page becomes a full market page. Until then: fundamentals below and tradable alternatives.

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Company data

Company fundamentals

Updated 3h ago
Market cap
$88.1B
Updated 3h ago
Revenue
$12.2B
Trailing 12 months
Revenue growth
+4%
Next fiscal year
Profit margin
+25.2%
P/E
28.6
Peer P/E 15.9
Free cash flow
-$214M
Trailing 12 months
More metrics
Net income
$3.1B
Trailing 12 months
P/S
7.2
Peer P/E
15.9
Similar listed perps
Revenue estimate
$12.4B
Next fiscal year
Earnings
2026-11-02
Revenue est. $3B · Updated 3h ago
Dividend
$0.525
2026-09-11

Fundamental detail

Annual + quarterly
Latest revenue$12B
Net margin+21.9%
Free cash flow$1B
Net debt$29.3B
2020$7.7B
2021$10.6B
2022$11B
2023$10.9B
2024$10.5B
2025$12B
PeriodRevenueGrowthNet incomeFCF
2020$7.7B-6%$211M$2.2B
2021$10.6B+38%$1.5B$2.7B
2022$11B+3%$2B$2.6B
2023$10.9B-1%$3.2B$3.4B
2024$10.5B-4%$2.2B$2.4B
2025$12B+14%$2.6B$1B
PeriodGross marginOperating marginNet marginROEROA
2020+56.8%+28.5%+2.7%+1.8%+0.5%
2021+44.7%+24.8%+14.3%+13.3%+3.2%
2022+50.2%+27.5%+18.7%+17.8%+4.2%
2023+62.4%+39.5%+29.1%+25.6%+6.0%
2024+58.7%+31.8%+21.2%+17.9%+4.1%
2025+42.9%+36.8%+21.9%+20.4%+4.5%
PeriodCashDebtNet debtCurrent ratio
2020$142M$22.3B$22.2B0.62
2021$1.7B$23.7B$22B0.91
2022$152M$22.9B$22.8B0.78
2023$2.2B$26.5B$24.3B0.77
2024$60M$27.1B$27B0.50
2025$63M$29.4B$29.3B0.53
PeriodMarket capEnterprise valueP/SP/E
2020$24.3B$46.5B3.2117.9
2021$31.6B$53.6B3.020.8
2022$40.1B$62.8B3.719.6
2023$42.4B$66.7B3.913.3
2024$66B$93B6.329.7
2025$73.4B$102.7B6.128.1
Q3 2024$2.7B
Q4 2024$2.7B
Q1 2025$3B
Q2 2025$2.8B
Q3 2025$2.9B
Q4 2025$3.2B
Q1 2026$3B
Q2 2026$3.1B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$2.7B+4%$706M$561M
Q4 2024$2.7B-1%$486M$345M
Q1 2025$3B+10%$691M$421M
Q2 2025$2.8B+19%$546M$478M
Q3 2025$2.9B+10%$647M$485M
Q4 2025$3.2B+17%$734M-$485M
Q1 2026$3B-1%$865M$244M
Q2 2026$3.1B+10%$827M-$458M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+58.9%+31.6%+26.6%+5.7%+1.3%
Q4 2024+56.7%+28.9%+17.7%+3.9%+0.9%
Q1 2025+59.7%+35.9%+22.7%+5.5%+1.3%
Q2 2025+38.1%+32.0%+19.7%+4.4%+1.0%
Q3 2025+83.9%+37.9%+22.1%+5.2%+1.2%
Q4 2025+46.8%+40.9%+23.0%+5.7%+1.3%
Q1 2026+82.1%+43.6%+28.5%+6.7%+1.5%
Q2 2026+83.3%+38.7%+27.1%+6.3%+1.4%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$762M$27.1B$26.3B0.57
Q4 2024$60M$26.9B$26.9B0.50
Q1 2025$100M$27.4B$27.3B0.40
Q2 2025$903M$28.6B$27.7B0.54
Q3 2025$70M$28B$27.9B0.42
Q4 2025$63M$29.4B$29.3B0.53
Q1 2026$950M$30.3B$29.4B0.83
Q2 2026$203M$30.8B$30.6B0.48
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$55.7B$82B21.019.7
Q4 2024$66B$92.9B24.133.8
Q1 2025$72.9B$100.3B23.926.2
Q2 2025$76.7B$104.4B27.734.9
Q3 2025$77.4B$105.3B26.529.9
Q4 2025$73.5B$102.8B23.025.0
Q1 2026$89B$118.4B29.425.6
Q2 2026$91B$121.6B29.827.3

Refreshed 3h ago

Charts: revenue, profit, cash flow & valuation
Revenue$3.1BQ2 2026
$799.5M$1.6B$2.4B$3.2BQ3 2023: $2.6BQ4 2023: $2.8BQ1 2024: $2.8BQ2 2024: $2.3BQ3 2024: $2.7BQ4 2024: $2.7BQ1 2025: $3BQ2 2025: $2.8BQ3 2025: $2.9BQ4 2025: $3.2BQ1 2026: $3BQ2 2026: $3.1BQ3 2023Q2 2026
Net income$827MQ2 2026
$284.5M$569M$853.5M$1.1BQ3 2023: $654MQ4 2023: $1.1BQ1 2024: $632MQ2 2024: $401MQ3 2024: $706MQ4 2024: $486MQ1 2025: $691MQ2 2025: $546MQ3 2025: $647MQ4 2025: $734MQ1 2026: $865MQ2 2026: $827MQ3 2023Q2 2026
EBITDA$2.1BQ2 2026
$599.5M$1.2B$1.8B$2.4BQ3 2023: $1.7BQ4 2023: $2.4BQ1 2024: $1.8BQ2 2024: $1.4BQ3 2024: $1.9BQ4 2024: $1.5BQ1 2025: $1.9BQ2 2025: $1.7BQ3 2025: $1.9BQ4 2025: $2BQ1 2026: $1.5BQ2 2026: $2.1BQ3 2023Q2 2026
Free cash flow-$458MQ2 2026
-$82.8M$319.5M$721.8M$1.1BQ3 2023: $532MQ4 2023: $1.1BQ1 2024: $690MQ2 2024: $700MQ3 2024: $561MQ4 2024: $345MQ1 2025: $421MQ2 2025: $478MQ3 2025: $485MQ4 2025: -$485MQ1 2026: $244MQ2 2026: -$458MQ3 2023Q2 2026
EPS$0.68Q2 2026
$0.23$0.47$0.7$0.93Q3 2023: $0.54Q4 2023: $0.93Q1 2024: $0.52Q2 2024: $0.33Q3 2024: $0.58Q4 2024: $0.4Q1 2025: $0.57Q2 2025: $0.45Q3 2025: $0.53Q4 2025: $0.6Q1 2026: $0.71Q2 2026: $0.68Q3 2023Q2 2026
Cash / Debt$203MQ2 2026
$7.7B$15.4B$23.1B$30.8BQ3 2023 · Cash: $2.1BQ3 2023 · Debt: $25.7BQ4 2023 · Cash: $2.2BQ4 2023 · Debt: $26.5BQ1 2024 · Cash: $667MQ1 2024 · Debt: $26.9BQ2 2024 · Cash: $55MQ2 2024 · Debt: $26.3BQ3 2024 · Cash: $762MQ3 2024 · Debt: $27.1BQ4 2024 · Cash: $60MQ4 2024 · Debt: $26.9BQ1 2025 · Cash: $100MQ1 2025 · Debt: $27.4BQ2 2025 · Cash: $903MQ2 2025 · Debt: $28.6BQ3 2025 · Cash: $70MQ3 2025 · Debt: $28BQ4 2025 · Cash: $63MQ4 2025 · Debt: $29.4BQ1 2026 · Cash: $950MQ1 2026 · Debt: $30.3BQ2 2026 · Cash: $203MQ2 2026 · Debt: $30.8BQ3 2023Q2 2026
CashDebt
Profitability+83.3%Q2 2026
+21.0%+41.9%+62.9%+83.9%Q3 2023 · Gross margin: +59.5%Q4 2023 · Gross margin: +64.9%Q1 2024 · Gross margin: +61.1%Q2 2024 · Gross margin: +58.0%Q3 2024 · Gross margin: +58.9%Q4 2024 · Gross margin: +56.7%Q1 2025 · Gross margin: +59.7%Q2 2025 · Gross margin: +38.1%Q3 2025 · Gross margin: +83.9%Q4 2025 · Gross margin: +46.8%Q1 2026 · Gross margin: +82.1%Q2 2026 · Gross margin: +83.3%Q3 2023 · Operating margin: +38.8%Q4 2023 · Operating margin: +39.0%Q1 2024 · Operating margin: +36.5%Q2 2024 · Operating margin: +29.8%Q3 2024 · Operating margin: +31.6%Q4 2024 · Operating margin: +28.9%Q1 2025 · Operating margin: +35.9%Q2 2025 · Operating margin: +32.0%Q3 2025 · Operating margin: +37.9%Q4 2025 · Operating margin: +40.9%Q1 2026 · Operating margin: +43.6%Q2 2026 · Operating margin: +38.7%Q3 2023 · Net margin: +25.6%Q4 2023 · Net margin: +40.9%Q1 2024 · Net margin: +22.8%Q2 2024 · Net margin: +17.2%Q3 2024 · Net margin: +26.6%Q4 2024 · Net margin: +17.7%Q1 2025 · Net margin: +22.7%Q2 2025 · Net margin: +19.7%Q3 2025 · Net margin: +22.1%Q4 2025 · Net margin: +23.0%Q1 2026 · Net margin: +28.5%Q2 2026 · Net margin: +27.1%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+10.2%Q2 2026
+3.5%+8.6%+13.6%+18.6%Q3 2024: +3.7%Q4 2024: -1.5%Q1 2025: +10.0%Q2 2025: +18.6%Q3 2025: +10.2%Q4 2025: +16.6%Q1 2026: -0.6%Q2 2026: +10.2%Q3 2023Q2 2026
Shares outstanding1.2BQ2 2026
306.1M612.2M918.4M1.2BQ3 2023: 1.2BQ4 2023: 1.2BQ1 2024: 1.2BQ2 2024: 1.2BQ3 2024: 1.2BQ4 2024: 1.2BQ1 2025: 1.2BQ2 2025: 1.2BQ3 2025: 1.2BQ4 2025: 1.2BQ1 2026: 1.2BQ2 2026: 1.2BQ3 2023Q2 2026
Valuation27.3Q2 2026
8.717.426.234.9Q3 2023 · P/E: 15.6Q4 2023 · P/E: 9.4Q1 2024 · P/E: 18.7Q2 2024 · P/E: 32.1Q3 2024 · P/E: 19.7Q4 2024 · P/E: 33.8Q1 2025 · P/E: 26.2Q2 2025 · P/E: 34.9Q3 2025 · P/E: 29.9Q4 2025 · P/E: 25.0Q1 2026 · P/E: 25.6Q2 2026 · P/E: 27.3Q3 2023 · P/S: 16.0Q4 2023 · P/S: 15.2Q1 2024 · P/S: 17.1Q2 2024 · P/S: 22.1Q3 2024 · P/S: 21.0Q4 2024 · P/S: 24.1Q1 2025 · P/S: 23.9Q2 2025 · P/S: 27.7Q3 2025 · P/S: 26.5Q4 2025 · P/S: 23.0Q1 2026 · P/S: 29.4Q2 2026 · P/S: 29.8Q3 2023Q2 2026
P/EP/S
Revenue$12B2025
$3B$6B$9B$12B2018: $8.7B2019: $8.2B2020: $7.7B2021: $10.6B2022: $11B2023: $10.9B2024: $10.5B2025: $12B20182025
Net income$2.6B2025
$678.5M$1.5B$2.3B$3.2B2018: -$155M2019: $850M2020: $211M2021: $1.5B2022: $2B2023: $3.2B2024: $2.2B2025: $2.6B20182025
EBITDA$7.4B2025
$1.9B$3.9B$5.8B$7.7B2018: $3.2B2019: $4B2020: $3.2B2021: $5.1B2022: $5.7B2023: $7.7B2024: $6.6B2025: $7.4B20182025
Free cash flow$1B2025
$842.8M$1.7B$2.5B$3.4B2018: $30M2019: $1.5B2020: $2.2B2021: $2.7B2022: $2.6B2023: $3.4B2024: $2.4B2025: $1B20182025
EPS$2.142025
$0.53$1.22$1.91$2.62018: -$0.162019: $0.72020: $0.172021: $1.242022: $1.672023: $2.62024: $1.822025: $2.1420182025
Cash / Debt$63M2025
$7.3B$14.7B$22B$29.4B2018 · Cash: $168M2018 · Debt: $22.4B2019 · Cash: $289M2019 · Debt: $22.3B2020 · Cash: $142M2020 · Debt: $22.3B2021 · Cash: $1.7B2021 · Debt: $23.7B2022 · Cash: $152M2022 · Debt: $22.9B2023 · Cash: $2.2B2023 · Debt: $26.5B2024 · Cash: $60M2024 · Debt: $27.1B2025 · Cash: $63M2025 · Debt: $29.4B20182025
CashDebt
Profitability+42.9%2025
+14.3%+30.3%+46.3%+62.4%2018 · Gross margin: +47.4%2019 · Gross margin: +53.9%2020 · Gross margin: +56.8%2021 · Gross margin: +44.7%2022 · Gross margin: +50.2%2023 · Gross margin: +62.4%2024 · Gross margin: +58.7%2025 · Gross margin: +42.9%2018 · Operating margin: +8.8%2019 · Operating margin: +23.4%2020 · Operating margin: +28.5%2021 · Operating margin: +24.8%2022 · Operating margin: +27.5%2023 · Operating margin: +39.5%2024 · Operating margin: +31.8%2025 · Operating margin: +36.8%2018 · Net margin: -1.8%2019 · Net margin: +10.4%2020 · Net margin: +2.7%2021 · Net margin: +14.3%2022 · Net margin: +18.7%2023 · Net margin: +29.1%2024 · Net margin: +21.2%2025 · Net margin: +21.9%20182025
Gross marginOperating marginNet margin
Revenue growth+13.8%2025
+5.0%+15.9%+26.8%+37.7%2019: -5.6%2020: -5.9%2021: +37.7%2022: +3.2%2023: -0.5%2024: -3.7%2025: +13.8%20182025
Shares outstanding1.2B2025
305.7M611.5M917.2M1.2B2018: 973.6M2019: 1.2B2020: 1.2B2021: 1.2B2022: 1.2B2023: 1.2B2024: 1.2B2025: 1.2B20182025
Valuation28.12025
-73.9-9.954.0117.92018 · P/E: -137.82019 · P/E: 33.92020 · P/E: 117.92021 · P/E: 20.82022 · P/E: 19.62023 · P/E: 13.32024 · P/E: 29.72025 · P/E: 28.12018 · P/S: 2.52019 · P/S: 3.52020 · P/S: 3.22021 · P/S: 3.02022 · P/S: 3.72023 · P/S: 3.92024 · P/S: 6.32025 · P/S: 6.120182025
P/EP/S

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20262.46$12.4B+4%9
FY 20272.57$14.2B+19%10
FY 20282.98$16.4B+37%9
FY 20293.53$18.5B+54%3
FY 20304.49$22.3B+87%3
Q1 20290.53$3.3B+10%2

Company events

6
2026-11-02EarningsActual - / Estimate 0.56-
2026-09-11Dividend$0.525-
2026-08-03EarningsActual 0.5 / Estimate 0.5Miss
2026-06-12Dividend$0.525-
2026-05-04EarningsActual 0.73 / Estimate 0.63Beat
2026-03-13Dividend$0.525-

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
BE$78.2B25.1317.8+7.9%24SLB$75.9B2.124.6+8.5%1OXY$58.5B2.38.8+28.8%2VLO$119B0.917.1+5.4%1LNG$56.2B2.519.9+13.1%1MPC$124B0.814.6+5.6%1PBR$134B1.34.8+24.5%1VG$34.2B2.010.3+21.5%2

Analyst track record

How the analysts covering WMB have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings131314
Analysts2433
Buy / hold / sell117 / 14 / 0221 / 92 / 1
Upgrades / downgrades / initiations2 / 0 / 78 / 4 / 12
Price targets hit / missed24 / 99 (20%)186 / 103 (64%)
Avg. return after a rating (TipRanks)-9.9%+21.2%
Best / worst call+12.2% / -30.3%+111.2% / -30.3%

After buy calls on this stock: median 21-day move +1.6% vs S&P 500 -0.2% (n = 218)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Elvira ScottoRBC Capital100% hit rate on this stock · 16 targets measuredBuytarget $87.00Aug 7, 2026
  2. Selman AkyolStifel Nicolaus100% hit rate on this stock · 10 targets measuredBuytarget $83.00Aug 4, 2026
  3. Praneeth SatishWells Fargo100% hit rate on this stock · 10 targets measuredBuytarget $90.00Aug 4, 2026

Latest ratings

DateAnalystCallTarget
Sep 14, 2026Julien Dumoulin SmithJefferiesBuyReiterated$85.00article ↗
Sep 10, 2026Brandon BinghamScotiabankBuyMaintained$85.00article ↗
Sep 10, 2026Tim O'TooleStifel NicolausBuyInitiated$85.00article ↗
Sep 10, 2026Robert HodgesStifel NicolausBuyInitiated$85.00article ↗
Sep 3, 2026Jeremy TonetJ.P. MorganBuyMaintained$91.00article ↗
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$60.00$65.00$70.00$75.00$80.00$85.00Oct 25 · Buy 16 · Hold 5 · Sell 0Oct 25Nov 25 · Buy 15 · Hold 4 · Sell 0Dec 25 · Buy 14 · Hold 3 · Sell 0Dec 25Jan 26 · Buy 13 · Hold 4 · Sell 0Feb 26 · Buy 14 · Hold 2 · Sell 0Feb 26Mar 26 · Buy 15 · Hold 2 · Sell 0Apr 26 · Buy 16 · Hold 1 · Sell 0Apr 26May 26 · Buy 19 · Hold 1 · Sell 0Jun 26 · Buy 19 · Hold 1 · Sell 0Jun 26Jul 26 · Buy 19 · Hold 1 · Sell 0Aug 26 · Buy 21 · Hold 1 · Sell 0Aug 26Sep 26 · Buy 23 · Hold 1 · Sell 0Oct 25 · avg. target $68.95Nov 25 · avg. target $70.39Dec 25 · avg. target $70.38Jan 26 · avg. target $70.75Feb 26 · avg. target $77.27Mar 26 · avg. target $79.82Apr 26 · avg. target $81.19May 26 · avg. target $83.58Jun 26 · avg. target $84.61Jul 26 · avg. target $84.95Aug 26 · avg. target $85.77Sep 26 · avg. target $85.75Oct 25 · month-end close $57.87Nov 25 · month-end close $60.93Dec 25 · month-end close $60.11Jan 26 · month-end close $67.26Feb 26 · month-end close $74.72Mar 26 · month-end close $72.78Apr 26 · month-end close $76.31May 26 · month-end close $71.39Jun 26 · month-end close $74.34Jul 26 · month-end close $71.54Aug 26 · month-end close $75.05Sep 26 · month-end close $71.81

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Sep 18, 2026 · 131 ratings