WMB Williams Companies
FY2025 10-K
Williams Companies (WMB) filed its fiscal year 2025 10-K annual report with the SEC on Feb 24, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Natural gas infrastructure operator: G&P, interstate transmission/storage, NGL fractionation, and marketing across 32,000+ pipeline miles serving ~800 customers
- • New LNG-adjacent push: Oct 2025 acquired 10% equity in Louisiana LNG export facility and 80% in Driftwood Pipeline (Line 200); expected in-service 2029
Management Discussion & Analysis
- • Total revenues $11.95B in 2025 vs $10.50B in 2024, up $1.45B; service revenues +$720M (+9% YoY) to $8.35B
- • Net income attributable to Williams $2.62B vs $2.23B in 2024 (+18% YoY); operating income $4.20B vs $3.34B; no margin % disclosed in text
Risk Factors
- • FERC regulatory risk: interstate pipeline rates, certifications, and market manipulation rules under FERC oversight; successful shipper challenges could materially cut revenues
- • Tariff/trade exposure: steel and steel pipe tariffs on foreign-made materials directly threaten construction budgets for capital projects and power innovation builds
Financial SummaryXBRL
Revenue
$14.9B
Net Income
$2.6B
Operating Margin
28.2%
Net Margin
17.6%
ROE
20.4%
Total Assets
$58.6B
EPS (Diluted)
$2.14
Operating Cash Flow
$5.9B
Source: XBRL data from Williams Companies FY2025 10-K filing on SEC EDGAR. All figures in USD.
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