The Williams Companies, Inc. (WMB) Income Statement
WMB 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWMB revenue and net income
Where WMB's revenue goes
2025Each bar shows an amount and its share of revenue. WMB kept 21.9% of revenue as net income.
WMB profit margins
WMB growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +13.8% | +2.9% | +9.1% | +5.0% |
| Gross profit | −16.9% | −2.3% | +3.2% | +2.9% |
| Operating income | +31.8% | +13.4% | +14.9% | +34.6% |
| Net income | +17.7% | +8.5% | +65.5% | — |
| EPS (diluted) | +9.4% | +5.5% | +19.3% | +14.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WMB quarterly EPS vs estimates
Williams beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 2, 2026 (estimate $0.56).
WMB income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.95B | $10.50B | $10.91B | $10.96B | $10.63B | $7.72B | $8.20B | $8.69B | $8.03B | $7.50B |
| Cost of revenue | $6.83B | $4.34B | $4.11B | $5.47B | $5.87B | $3.33B | $3.78B | $4.57B | $4.04B | $3.49B |
| Gross profit | $5.12B | $6.17B | $6.80B | $5.50B | $4.75B | $4.38B | $4.42B | $4.12B | $4.00B | $4.01B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $721.0M | $708.0M | $642.0M | $2.44B | $558.0M | $466.0M | $558.0M | $569.0M | $608.0M | $723.0M |
| Total operating expenses | $721.0M | $2.83B | $2.49B | $2.48B | $2.12B | $2.18B | $2.50B | $3.35B | $3.07B | $3.32B |
| Operating income | $4.40B | $3.34B | $4.31B | $3.02B | $2.63B | $2.20B | $1.92B | $768.0M | $927.0M | $689.0M |
| Interest income | $640.0M | $67.0M | $79.0M | $494.0M | $564.0M | $836.0M | $704.0M | $497.0M | $367.0M | $719.0M |
| Interest expense | $1.44B | $1.36B | $1.24B | $1.15B | $1.18B | $1.17B | $1.19B | $1.11B | $1.08B | $1.18B |
| Income before taxes | $3.62B | $2.99B | $4.41B | $2.54B | $2.07B | $277.0M | $1.06B | $331.0M | $535.0M | −$375.0M |
| Income taxes | $857.0M | $640.0M | $1.00B | $425.0M | $511.0M | $79.0M | $335.0M | $138.0M | −$1.97B | −$25.0M |
| Net income | $2.62B | $2.23B | $3.18B | $2.05B | $1.52B | $211.0M | $850.0M | −$155.0M | $2.17B | −$424.0M |
| EBITDA | $7.41B | $6.57B | $7.71B | $5.70B | $5.09B | $3.17B | $3.96B | $3.17B | $3.35B | $2.57B |
| EPS (diluted) | $2.10 | $1.92 | $1.91 | $1.79 | $1.35 | $0.87 | $0.98 | $0.79 | $0.62 | $0.59 |
| Gross margin | 42.9% | 58.7% | 62.4% | 50.2% | 44.7% | 56.8% | 53.9% | 47.4% | 49.7% | 53.5% |
| Operating margin | 36.8% | 31.8% | 39.5% | 27.5% | 24.8% | 28.5% | 23.4% | 8.8% | 11.5% | 9.2% |
| Net margin | 21.9% | 21.2% | 29.1% | 18.7% | 14.3% | 2.7% | 10.4% | −1.8% | 27.1% | −5.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.05B | $3.03B | $3.20B | $2.92B | $2.77B | $3.05B | $2.74B | $2.65B | $2.34B | $2.77B | $2.78B | $2.56B |
| Cost of revenue | $509.0M | $543.0M | $1.70B | $471.0M | $1.72B | $1.23B | $1.19B | $1.09B | $981.0M | $1.08B | $977.0M | $1.04B |
| Gross profit | $2.54B | $2.49B | $1.50B | $2.45B | $1.05B | $1.82B | $1.56B | $1.56B | $1.35B | $1.69B | $1.81B | $1.52B |
| Sales, general & admin | $180.0M | $193.0M | $776.0M | $168.0M | $740.0M | $194.0M | $188.0M | $170.0M | $164.0M | $186.0M | $182.0M | $666.0M |
| Total operating expenses | $1.36B | $1.17B | $191.0M | $1.34B | $168.0M | $726.0M | $763.0M | $725.0M | $659.0M | $680.0M | $720.0M | $529.0M |
| Operating income | $1.18B | $1.32B | $1.31B | $1.11B | $887.0M | $1.09B | $793.0M | $838.0M | $696.0M | $1.01B | $1.09B | $994.0M |
| Interest income | — | — | $49.0M | $201.0M | $204.0M | $186.0M | $198.0M | $99.0M | — | — | — | $163.0M |
| Interest expense | $371.0M | $376.0M | $371.0M | $372.0M | $350.0M | $349.0M | $338.0M | $338.0M | $339.0M | $349.0M | $322.0M | $314.0M |
| Income before taxes | $1.14B | $1.16B | $1.02B | $929.0M | $757.0M | $922.0M | $608.0M | $968.0M | $555.0M | $855.0M | $1.55B | $861.0M |
| Income taxes | $260.0M | $244.0M | $244.0M | $246.0M | $174.0M | $193.0M | $91.0M | $227.0M | $129.0M | $193.0M | $370.0M | $176.0M |
| Net income | $827.0M | $865.0M | $734.0M | $647.0M | $546.0M | $691.0M | $486.0M | $706.0M | $401.0M | $632.0M | $1.14B | $654.0M |
| EBITDA | $2.10B | $1.74B | $1.98B | $1.86B | $1.71B | $1.86B | $1.51B | $1.87B | $1.43B | $1.75B | $2.40B | $1.70B |
| EPS (diluted) | $0.50 | $0.73 | $0.55 | $0.49 | $0.46 | $0.60 | $0.47 | $0.43 | $0.43 | $0.59 | $0.48 | $0.45 |
| Gross margin | 83.3% | 82.1% | 46.8% | 83.9% | 38.1% | 59.7% | 56.7% | 58.9% | 58.0% | 61.1% | 64.9% | 59.5% |
| Operating margin | 38.7% | 43.6% | 40.9% | 37.9% | 32.0% | 35.9% | 28.9% | 31.6% | 29.8% | 36.5% | 39.0% | 38.8% |
| Net margin | 27.1% | 28.5% | 23.0% | 22.1% | 19.7% | 22.7% | 17.7% | 26.6% | 17.2% | 22.8% | 40.9% | 25.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WMB's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WMB financial results
In fiscal year 2025 (ended December 31, 2025), Williams reported revenue of $11.9 billion, up 13.8% from the year before. It had net income of $2.6 billion (up 17.7%), a net profit margin of 21.9%. Diluted earnings per share came to $2.10. Over five years revenue grew at an average rate of 9.1% a year.
See the WMB stock overview for the latest quote and news, or the WMB chart for price history and technical indicators.
WMB income statement FAQ
What is Williams's annual revenue?
Williams reported total revenue of $11.9 billion for fiscal year 2025, which ended on December 31, 2025. That was up 13.8% from $10.5 billion the previous year.
Is Williams profitable?
Yes. Williams reported net income of $2.6 billion in fiscal 2025, a net profit margin of 21.9%; its operating margin was 36.8%.
What is Williams's gross margin?
Williams's gross margin was 42.9% in fiscal 2025: for every $100 of revenue, Williams kept $43 after the direct cost of its products and services.
How fast is Williams growing?
Revenue grew 9.1% a year on average over the last five fiscal years, from $7.7 billion to $11.9 billion.
What are Williams's earnings per share?
Williams earned $2.10 per diluted share in fiscal 2025, compared with $1.92 a year earlier.
When will Williams report its next earnings?
Williams is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 after the market closes.
When does Williams's fiscal year end?
Williams's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.