# Williams Companies Inc. (WMB) — Stock CV

Williams Companies Inc. is a $89.2B utility company. Revenue grew 8.7% over the last year, it keeps 25¢ of every dollar of sales as profit, and it carries $7.67B of net debt. It trades at 29.0× earnings — around the middle of its own history.

> Williams operates the Transco pipeline, which connects the Gulf Coast to the Northeast United States. It has additional natural gas transmission pipelines connecting the Rockies to the Pacific Northwest and midcontinent.

## Identity

- **Ticker**: WMB
- **Sector**: Utilities
- **Industry**: Natural Gas Transmission
- **Headquarters**: TULSA, OK
- **Employees**: 5 987
- **Website**: https://www.williams.com
- **Market cap**: $89.2B
- **Last price**: $72.96
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $12.2B
- **Net income**: $3.07B
- **Free cash flow**: -$108M
- **Net debt**: $7.67B
- **P/E**: 29.0
- **Revenue growth (YoY)**: 8.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 29 |
| Growth | 56 |
| Profitability | 82 |
| Health | 33 |
| Quality | 59 |
| Moat | 31 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +8.7% YoY
- [x] Profitable — $3.07B TTM
- [x] Profit growing — +8.4% YoY
- [ ] Generates cash — -$108M TTM
- [ ] Debt under control — current ratio 0.48
- [x] Established company — $89.2B market cap
- [x] Not printing shares — +0.8% shares over ~5y
- [x] Proven track record — 8/10 profitable years
- [ ] Financially stable — Altman Z 1.1 — distress
- [x] Pays a dividend — yield 2.81%
- [x] Valuation not extreme — P/E 29.0

## Experience (career milestones)

- **FY2023** — Best year on record: $3.18B net income
- **FY2021** — Revenue crossed $10B: $10.6B for the year
- **FY2017** — Turned profitable: $2.17B net income after a loss year
- **FY2016** — Revenue already above $1B: $7.50B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2015** — Williams agreed to a US$32.6 billion takeover offer from Energy Transfer, however the acquisition…
- **Dec 31, 2011** — The spinoff was completed with the December 31, 2011, distribution of one share of WPX Energy common stock for every…
- **2001** — Williams acquired Barrett Resources, which provided them with additional national gas reserves
- **1966** — Williams bought the then-largest petroleum products pipeline in America, known as the Great Lakes Pipeline…
- **1957** — The company went public in 1957 under the Williams Brothers name
- **1908** — It was founded as Williams Brothers in 1908 by Miller and David Williams in Fort Smith, Arkansas

## Strengths

- High gross margin (82.4%)
- Strongly profitable — 25.2% net margin
- Interest covered 6.7× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- Negative free cash flow (-$108.0M)
- Altman Z-Score 1.08 — elevated financial-distress risk
- Loss-making in 2 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $10.6B | $1.52B | $2.71B |
| FY2022 | $11.0B | $2.05B | $2.64B |
| FY2023 | $10.9B | $3.18B | $3.42B |
| FY2024 | $10.5B | $2.23B | $2.40B |
| FY2025 | $11.9B | $2.62B | $1.00B |

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Source: https://stockcv.com/WMB — derived from company filings; may be delayed or incomplete. Information, not investment advice.