Williams Companies (WMB) FY2025 10-K Annual Report
Williams Companies (WMB) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 24, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Williams Companies FY2025 10-K Analysis
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
Williams Companies FY2025 Key Financial MetricsXBRL
Revenue
$14.9B
▲ +17.9% YoY
Net Income
$2.6B
▲ +17.7% YoY
Operating Margin
28.2%
▲ +173bp YoY
Net Margin
17.6%
▼ -4bp YoY
ROE
20.4%
▲ +255bp YoY
Total Assets
$58.6B
▲ +7.4% YoY
EPS (Diluted)
$2.14
▲ +17.6% YoY
Operating Cash Flow
$5.9B
▲ +18.6% YoY
Source: XBRL data from Williams Companies FY2025 10-K filing on SEC EDGAR. All figures in USD.
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