WILLIAMS COMPANIES, INC.
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 29,361 | 69.6 |
| Stockholders' equity | 12,807 | 30.4 |
| Total capitalization | 42,168 | 100.0 |
1,223,167,472 shares outstanding at 30 July 2026 (cover page of the 10-Q filed 3 August 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, incl. current maturities | 28,661 |
| Long-term debt, noncurrent | 27,316 |
| Current maturities | 1,345 |
| Short-term borrowings / commercial paper | 700 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 1,470,000,000 |
| Common shares issued | 1,261,000,000 |
| Treasury shares | 39,000,000 |
| Par or stated value per share ($) | 1 |
| Preferred stock ($ millions) | 35 |
| Outstanding at 7/30/26 | 1,223,167,472 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | 2.00 | 93.5 |
| 2024 | 1.90 | 104.4 |
| 2023 | 1.79 | 68.8 |
| 2022 | 1.70 | 101.8 |
| 2021 | 1.64 | 132.3 |
HISTORY AND BUSINESS
HISTORY: Incorporated in Delaware.
BUSINESS: Classified by the SEC under Standard Industrial Classification 4922, Natural Gas Transmission. Large accelerated filer. Principal executive office: One Williams Ctr, Tulsa, OK 74172. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Operating revenues | 14,899 | 12,632 | 11,996 |
| Depreciation and amortization | 2,347 | 2,219 | 2,071 |
| Total operating expenses | 7,754 | 7,164 | 6,596 |
| Operating income | 4,196 | 3,339 | 4,311 |
| Interest charges | 1,442 | 1,364 | 1,236 |
| Income before income taxes | 3,625 | 2,986 | 4,405 |
| Income taxes | 857 | 640 | 1,005 |
| Net income | 2,618 | 2,225 | 3,179 |
| Earned per share, diluted ($) | 2.14 | 1.82 | 2.60 |
| Dividends per share ($) | 2.00 | 1.90 | 1.79 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Utility plant, net | 41,996 | 38,692 |
| Total current assets | 3,244 | 2,661 |
| Regulatory assets | 698 | 666 |
| Total assets | 58,573 | 54,532 |
| Total current liabilities | 6,106 | 5,312 |
| Long-term debt | 27,316 | 24,736 |
| Common stockholders' equity | 12,807 | 12,436 |
| Total capitalization and liabilities | 58,573 | 54,532 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 14,899 | 4,196 | 2,618 | 17.6 | 2.14 | 2.00 | 5,898 | 4,893 | 1,005 | 58,573 | 43,578d | 29,361 | 12,807 | 20.4 | 2.29 |
| 12/31/24 | 12,632 | 3,339 | 2,225 | 17.6 | 1.82 | 1.90 | 4,974 | 2,573 | 2,401 | 54,532 | 39,692d | 26,911 | 12,436 | 17.9 | 2.16 |
| 12/31/23 | 11,996 | 4,311 | 3,179 | 26.5 | 2.60 | 1.79 | 5,938 | 2,516 | 3,422 | 52,627 | 37,736d | 26,438 | 12,402 | 25.6 | 2.13 |
| 12/31/22 | 17,773 | 3,018 | 2,049 | 11.5 | 1.67 | 1.70 | 4,889 | 2,253 | 2,636 | 48,433 | 34,388d | 22,904 | 11,485 | 17.8 | 1.99 |
| 12/31/21 | 12,784 | 2,631 | 1,517 | 11.9 | 1.24 | 1.64 | 3,945 | 1,239 | 2,706 | 47,612 | 33,511d | 23,675 | 11,423 | 13.3 | 2.07 |
| 12/31/20 | 7,719 | 2,202 | 211 | 2.7 | 0.17 | 1.60 | 3,496 | 1,239 | 2,257 | 44,165 | 29,582d | 22,344 | 11,769 | 1.8 | 1.90 |
| 12/31/19 | 8,201 | 1,921 | 850 | 10.4 | 0.70 | 1.52 | 3,693 | 2,109 | 1,584 | 46,040 | 29,676d | 22,288 | 13,363 | 6.4 | 1.67 |
| 12/31/18 | 8,686 | 768 | (155) | -1.8 | (0.16) | 1.36 | 3,293 | 3,256 | 37 | 45,302 | 29,305d | 22,414 | 14,660 | -1.1 | 1.53 |
| 12/31/17 | 8,031 | 927 | 2,174 | 27.1 | 2.62 | 1.20 | 3,089 | 2,399 | 690 | 46,352 | 30,177d | 20,935 | 9,656 | 22.5 | 2.17 |
| 12/31/16 | 7,499 | 689 | (424) | -5.7 | (0.57) | 1.68 | 4,155 | 2,051 | 2,104 | 46,835 | 32,789d | 23,502 | 4,643 | -9.1 | 5.06 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
WILLIAMS COMPANIES, INC.
CIK 107263 · EIN 73-0569878
PRINCIPAL OFFICE:
One Williams Ctr, Tulsa, OK 74172
Tel.: 9185732000
INCORPORATED:
Delaware
INDUSTRY (SEC SIC CODE):
4922 · Natural Gas Transmission
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 24 February 2026
FORMER NAMES:
WILLIAMS COMPANIES INC
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/24/26) · 10-K FY2024 (filed 2/25/25) · 10-K FY2023 (filed 2/21/24) · 10-K FY2022 (filed 2/27/23) · 10-K FY2021 (filed 2/28/22) · 10-K FY2020 (filed 2/24/21) · 10-K FY2019 (filed 2/24/20) · 10-K FY2018 (filed 2/21/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.