The Williams Companies, Inc. (WMB) Key Metrics
WMB valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $87.19B
- Enterprise value
- $119.73B
- P/E (TTM)
- 28.4 10-yr median 24.5
- Forward P/E
- 26.8
- PEG ratio
- 2.07
- Price / sales
- 7.1 10-yr median 3.3
- Price / book
- 6.8 10-yr median 3.1
- EV / EBITDA
- 14.9 10-yr median 13.7
- Dividend yield
- 2.95% $2.10 a year
- Beta
- 0.66
WMB key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsWMB valuation Price multiples at each fiscal year-end price.
WMB returns How much profit the business earns on the capital it uses.
WMB per-share figures Results divided by the shares outstanding at year-end.
WMB financial health Debt, liquidity and how easily interest is covered.
WMB efficiency & capital use Working capital cycle and where the cash goes.
WMB valuation history
WMB returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
WMB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
WMB cash returned to shareholders
WMB price vs earnings per share
WMB key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $73.39B | $66.19B | $42.59B | $40.23B | $31.72B | $24.36B | $28.80B | $21.47B | $25.26B | $23.38B |
| Enterprise value | $102.72B | $93.21B | $66.90B | $62.98B | $53.72B | $46.57B | $50.80B | $43.71B | $45.30B | $46.71B |
| P/E ratio | 28.0 | 29.7 | 13.4 | 19.6 | 20.9 | 115.5 | 33.9 | — | 11.6 | — |
| Price / sales | 6.1 | 6.3 | 3.9 | 3.7 | 3.0 | 3.2 | 3.5 | 2.5 | 3.1 | 3.1 |
| Price / book | 5.7 | 5.3 | 3.4 | 3.5 | 2.8 | 2.1 | 2.2 | 1.5 | 2.6 | 5.0 |
| Price / free cash flow | 73.0 | 27.6 | 12.6 | 15.4 | 11.8 | 11.0 | 18.7 | 715.6 | 217.8 | 14.5 |
| Price / operating cash flow | 12.4 | 13.3 | 7.2 | 8.2 | 8.0 | 7.0 | 7.8 | 6.5 | 9.9 | 6.4 |
| EV / sales | 8.6 | 8.9 | 6.1 | 5.7 | 5.1 | 6.0 | 6.2 | 5.0 | 5.6 | 6.2 |
| EV / EBITDA | 13.9 | 14.2 | 8.7 | 11.1 | 10.5 | 14.7 | 12.8 | 13.8 | 13.5 | 18.2 |
| EV / free cash flow | 102.2 | 38.8 | 19.8 | 24.2 | 19.9 | 21.0 | 32.9 | — | 390.5 | 29.0 |
| Earnings yield | 3.6% | 3.4% | 7.5% | 5.1% | 4.8% | 0.9% | 3.0% | −0.7% | 8.6% | −1.8% |
| Free cash flow yield | 1.4% | 3.6% | 7.9% | 6.5% | 8.5% | 9.1% | 5.4% | 0.1% | 0.5% | 6.9% |
| Dividend yield | 3.3% | 3.5% | 5.1% | 5.1% | 6.3% | 8.0% | 6.4% | 6.5% | 3.9% | 5.4% |
| Shareholder yield (dividends + buybacks) | 3.3% | 3.5% | 5.4% | 5.1% | 6.3% | 8.0% | 6.4% | 6.5% | 3.9% | 5.4% |
| Share price at fiscal year-end | $60.11 | $54.12 | $34.83 | $32.90 | $26.04 | $20.05 | $23.72 | $22.05 | $30.49 | $31.14 |
| Per share | ||||||||||
| Revenue per share | $9.79 | $8.59 | $8.92 | $8.97 | $8.72 | $6.35 | $6.76 | $8.92 | $9.69 | $9.99 |
| Earnings per share | $2.14 | $1.82 | $2.60 | $1.68 | $1.25 | $0.17 | $0.70 | −$0.16 | $2.62 | −$0.56 |
| Operating cash flow per share | $4.83 | $4.07 | $4.86 | $4.00 | $3.24 | $2.88 | $3.04 | $3.38 | $3.09 | $4.88 |
| Free cash flow per share | $0.82 | $1.96 | $2.76 | $2.13 | $2.21 | $1.83 | $1.27 | $0.03 | $0.14 | $2.15 |
| Cash per share | $0.05 | $0.05 | $1.76 | $0.12 | $1.38 | $0.12 | $0.24 | $0.17 | $1.09 | $0.23 |
| Book value per share | $10.49 | $10.17 | $10.14 | $9.39 | $9.38 | $9.69 | $11.01 | $15.06 | $11.65 | $6.19 |
| Tangible book value per share | $4.57 | $4.27 | $3.93 | $3.37 | $3.30 | $3.56 | $4.45 | $7.08 | $1.04 | −$6.69 |
| Dividends per share | $2.00 | $1.89 | $1.78 | $1.69 | $1.64 | $1.60 | $1.52 | $1.42 | $1.20 | $1.68 |
| Capex per share | $4.01 | $2.10 | $2.10 | $1.87 | $1.02 | $1.05 | $1.77 | $3.35 | $2.95 | $2.73 |
| Debt per share | $24.07 | $22.14 | $21.64 | $18.73 | $19.43 | $18.39 | $18.36 | $23.02 | $25.27 | $31.31 |
| Shares outstanding | 1.22B | 1.22B | 1.22B | 1.22B | 1.22B | 1.22B | 1.21B | 973.6M | 828.5M | 750.7M |
| Change in shares outstanding | −0.2% | +0.0% | +0.0% | +0.4% | +0.3% | +0.1% | +24.7% | +17.5% | +10.4% | +0.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 20.7% | 17.9% | 26.6% | 17.9% | 13.1% | 1.7% | 6.1% | −1.3% | 30.4% | −7.9% |
| Return on invested capital (ROIC) | 8.2% | 6.9% | 9.4% | 7.4% | 5.9% | 4.5% | 3.6% | 1.3% | 3.2% | 1.9% |
| Return on assets (ROA) | 4.6% | 4.2% | 6.3% | 4.3% | 3.3% | 0.5% | 1.9% | −0.3% | 4.7% | −0.9% |
| Return on tangible assets | 5.1% | 4.7% | 7.1% | 5.0% | 3.8% | 0.6% | 2.2% | −0.4% | 5.8% | −1.1% |
| Free cash flow margin | 8.4% | 22.9% | 30.9% | 23.8% | 25.4% | 28.8% | 18.8% | 0.3% | 1.4% | 21.5% |
| Income quality (OCF / net income) | 2.25 | 2.24 | 1.87 | 2.39 | 2.60 | 16.57 | 4.34 | — | 1.18 | — |
| Financial health | ||||||||||
| Total debt | $29.39B | $27.08B | $26.46B | $22.90B | $23.68B | $22.34B | $22.29B | $22.41B | $20.93B | $23.50B |
| Cash & short-term investments | $63.0M | $60.0M | $2.15B | $152.0M | $1.68B | $142.0M | $289.0M | $168.0M | $899.0M | $170.0M |
| Net debt | $29.33B | $27.02B | $24.31B | $22.75B | $22.00B | $22.20B | $22.00B | $22.25B | $20.04B | $23.33B |
| Debt / equity | 2.30 | 2.18 | 2.13 | 1.99 | 2.07 | 1.90 | 1.67 | 1.53 | 2.17 | 5.06 |
| Debt / assets | 0.50 | 0.50 | 0.50 | 0.47 | 0.50 | 0.51 | 0.48 | 0.49 | 0.45 | 0.50 |
| Net debt / EBITDA | 3.96 | 4.11 | 3.15 | 3.99 | 4.32 | 7.00 | 5.55 | 7.02 | 5.97 | 9.09 |
| Current ratio | 0.53 | 0.50 | 0.77 | 0.78 | 0.91 | 0.62 | 0.40 | 0.81 | 0.82 | 0.50 |
| Quick ratio | 0.48 | 0.45 | 0.73 | 0.71 | 0.84 | 0.56 | 0.37 | 0.74 | 0.78 | 0.45 |
| Interest coverage | 3.1 | 2.4 | 3.5 | 2.6 | 2.2 | 1.9 | 1.6 | 0.7 | 0.9 | 0.6 |
| Working capital | −$2.86B | −$2.65B | −$1.32B | −$1.09B | −$423.0M | −$890.0M | −$2.39B | −$347.0M | −$467.0M | −$1.49B |
| Invested capital | $42.14B | $39.45B | $36.71B | $34.24B | $33.42B | $33.97B | $35.36B | $36.91B | $29.69B | $27.98B |
| Tangible asset value | $7.77B | $7.63B | $7.30B | $6.68B | $6.70B | $7.14B | $8.40B | $8.23B | $7.38B | $4.38B |
| Net current asset value | −$40.33B | −$37.03B | −$33.22B | −$30.59B | −$28.96B | −$28.15B | −$28.10B | −$27.84B | −$28.00B | −$31.33B |
| Graham number | $22.49 | $20.40 | $24.36 | $18.82 | $16.21 | $6.15 | $13.17 | — | $26.23 | — |
| Graham net-net per share | −$34.23 | −$31.15 | −$27.98 | −$26.20 | −$24.76 | −$23.55 | −$23.54 | −$29.10 | −$34.39 | −$42.42 |
| Capital allocation | ||||||||||
| Dividends paid | $2.44B | $2.32B | $2.18B | $2.07B | $1.99B | $1.94B | $1.84B | $1.39B | $992.0M | $1.26B |
| Share buybacks (net) | $0 | $0 | $130.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividend payout ratio | 93.3% | 104.1% | 68.5% | 101.1% | 131.3% | 919.9% | 216.7% | — | 45.6% | — |
| Dividends + buybacks / free cash flow | 243.0% | 96.5% | 68.5% | 79.5% | 73.8% | 87.4% | 119.3% | — | 855.2% | 78.2% |
| Capex / revenue | 40.9% | 24.5% | 23.5% | 20.8% | 11.7% | 16.5% | 26.2% | 37.6% | 30.4% | 27.4% |
| Capex / operating cash flow | 83.0% | 51.7% | 43.2% | 46.7% | 31.6% | 36.5% | 58.2% | 99.1% | 95.5% | 56.0% |
| Capex / depreciation | 2.08 | 1.16 | 1.24 | 1.14 | 0.68 | 0.74 | 1.25 | 1.89 | 1.41 | 1.16 |
| Stock-based compensation / revenue | 0.8% | 0.9% | 0.7% | 0.7% | 0.8% | 0.7% | 0.7% | 0.6% | 1.0% | 1.0% |
| SG&A / revenue | 6.0% | 6.7% | 5.9% | 22.3% | 5.3% | 6.0% | 6.8% | 6.6% | 7.6% | 9.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 60.3 | 61.1 | 73.3 | 78.2 | 51.1 | 47.2 | 44.2 | 41.3 | 43.5 | 48.2 |
| Days of inventory on hand | 15.8 | 23.3 | 26.4 | 23.3 | 16.0 | 14.3 | 12.3 | 9.7 | 11.3 | 13.9 |
| Days payables outstanding | 102.6 | 125.9 | 164.7 | 136.0 | 69.2 | 56.6 | 58.6 | 65.5 | 72.4 | 71.5 |
| Cash conversion cycle (days) | -26.4 | -41.5 | -65.1 | -34.4 | -2.1 | 4.9 | -2.1 | -14.5 | -17.5 | -9.5 |
| Receivables turnover | 6.06 | 5.97 | 4.98 | 4.66 | 7.14 | 7.74 | 8.25 | 8.83 | 8.39 | 7.58 |
| Payables turnover | 3.56 | 2.90 | 2.22 | 2.68 | 5.27 | 6.45 | 6.23 | 5.57 | 5.04 | 5.10 |
| Inventory turnover | 23.03 | 15.69 | 13.82 | 15.64 | 22.81 | 25.55 | 29.65 | 37.60 | 32.16 | 26.32 |
| Asset turnover | 0.21 | 0.20 | 0.22 | 0.23 | 0.23 | 0.17 | 0.18 | 0.19 | 0.17 | 0.16 |
| Average receivables | $1.97B | $1.76B | $2.19B | $2.35B | $1.49B | $997.5M | $994.0M | $984.0M | $957.0M | $989.5M |
| Average payables | $1.92B | $1.50B | $1.85B | $2.04B | $1.11B | $517.0M | $607.0M | $820.0M | $800.5M | $683.5M |
| Average inventory | $296.5M | $276.5M | $297.0M | $349.5M | $257.5M | $130.5M | $127.5M | $121.5M | $125.5M | $132.5M |
| Intangibles / total assets | 12.3% | 13.2% | 14.4% | 15.2% | 15.5% | 16.9% | 17.3% | 17.1% | 19.0% | 20.6% |
Computed from WMB's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
WMB valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Williams traded at 28.0 times earnings, against a 10-year median of 24.5. Based on the latest twelve months, the trailing P/E is 28.4 and the forward P/E is 26.8. Williams earned a return on equity of 20.7% and a return on invested capital of 8.2% in fiscal 2025. It ended the year with $29.4 billion of debt and $63.0 million in cash and short-term investments, net debt of $29.3 billion. It returned $2.4 billion to shareholders: $2.4 billion in dividends and $0 in share buybacks, 243% of free cash flow. The share count rose 62.7% from 750.7M to 1.22B over 9 years.
See the WMB income statement, the WMB chart for price history, or the WMB stock overview for the latest quote and news.
WMB key metrics FAQ
What is Williams's P/E ratio?
Williams's trailing P/E ratio is 28.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 26.8. At the end of fiscal 2025 it was 28.0, compared with a 10-year median of 24.5.
What is Williams's EV/EBITDA?
Williams's enterprise value was 13.9 times EBITDA at the end of fiscal 2025 (enterprise value $102.7 billion, EBITDA $7.4 billion); the current EV/EBITDA is 14.9.
What is Williams's return on equity?
Williams's return on equity (ROE) was 20.7% in fiscal 2025: net income of $2.6 billion on average shareholders' equity of $12.6 billion.
What is Williams's ROIC?
Williams's return on invested capital was 8.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Williams have?
Williams had total debt of $29.4 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.30 and $29.3 billion of net debt (3.96 times EBITDA).
What is Williams's dividend yield?
Williams's forward dividend yield is 2.95%. Williams paid $2.4 billion in dividends in fiscal 2025 ($2.00 per share), a payout ratio of 93.3%.
What is Williams's free cash flow yield?
Williams generated $1.0 billion of free cash flow in fiscal 2025, a free cash flow yield of 1.4% on its market value at year-end ($73.4 billion).
What is Williams's current ratio?
Williams's current ratio was 0.53 at the end of fiscal 2025: current assets were 0.53 times current liabilities.