Question 1

What is Williams Companies's P/B ratio?

Accepted Answer

Williams Companies (WMB) P/B ratio is 6.8× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Williams Companies?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Williams Companies specifically, the relevant sector benchmark is the current sector median of 2.4×.

Question 5

Is Williams Companies's P/B ratio high or low?

Accepted Answer

Williams Companies's P/B ratio of 6.8× is above its own 5-year average of 4.2× and above the sector median of 2.4×. That places the current reading at the 94th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Williams Companies's historical P/B ratio range?

Accepted Answer

In the available daily series, Williams Companies (WMB) P/B ratio has ranged from a low of 0.2× in 2002 to a high of 12.0× in 2011. The 5-year average is 4.2× and the 5-year median is 3.5×.

Question 7

What was Williams Companies's P/B ratio in 2025?

Accepted Answer

Williams Companies (WMB) P/B ratio at the end of 2025 was 5.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Williams Companies's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$73.45B	$12.81B	5.7×	+0.4×	Dec 31, 2025
2024	$65.98B	$12.44B	5.3×	+1.9×	Dec 31, 2024
2023	$42.39B	$12.40B	3.4×	-0.1×	Dec 31, 2023
2022	$40.07B	$11.48B	3.5×	+0.7×	Dec 31, 2022
2021	$31.65B	$11.42B	2.8×	+0.7×	Dec 31, 2021
2020	$24.35B	$11.77B	2.1×	-0.1×	Dec 31, 2020
2019	$28.76B	$13.36B	2.2×	+0.3×	Dec 31, 2019
2018	$26.69B	$14.66B	1.8×	-0.8×	Dec 31, 2018
2017	$25.18B	$9.66B	2.6×	-2.4×	Dec 31, 2017
2016	$23.36B	$4.64B	5.0×	+1.9×	Dec 31, 2016
2015	$19.25B	$6.15B	3.1×	-0.7×	Dec 31, 2015
2014	$33.57B	$8.78B	3.8×	-1.6×	Dec 31, 2014
2013	$26.34B	$4.86B	5.4×	+0.7×	Dec 31, 2013
2012	$22.22B	$4.75B	4.7×	-7.4×	Dec 31, 2012
2011	$15.59B	$1.30B	12.0×	+10.4×	Dec 31, 2011
2010	$11.51B	$7.29B	1.6×	+0.4×	Dec 31, 2010
2009	$9.76B	$8.45B	1.2×	+0.4×	Dec 31, 2009
2008	$6.65B	$8.44B	0.8×	-1.8×	Dec 31, 2008
2007	$16.62B	$6.38B	2.6×	+0.6×	Dec 31, 2007
2006	$12.39B	$6.07B	2.0×	+0.0×	Dec 31, 2006
2005	$10.87B	$5.43B	2.0×	+0.5×	Dec 31, 2005
2004	$7.29B	$4.96B	1.5×	+0.5×	Dec 31, 2004
2003	$4.05B	$4.10B	1.0×	+0.8×	Dec 31, 2003
2002	$1.11B	$5.05B	0.2×	-1.5×	Dec 31, 2002
2001	$10.51B	$6.04B	1.7×	—	Dec 31, 2001


Enphase Energy (ENPH)	4.5×
Marathon Petroleum (MPC)	4.3×
Baker Hughes (BKR)	3.1×
Valero Energy (VLO)	3.1×
Halliburton (HAL)	3.0×
SLB (SLB)	2.9×
Exxon Mobil (XOM)	2.8×
Phillips 66 (PSX)	2.6×
ONEOK (OKE)	2.5×
ConocoPhillips (COP)	2.5×
EOG Resources (EOG)	2.5×
Kinder Morgan (KMI)	2.4×
National Fuel Gas (NFG)	2.3×
APA (APA)	2.3×
Chevron (CVX)	2.2×
First Solar (FSLR)	2.1×
Devon Energy (DVN)	2.0×
Energy Transfer LP (ET)	1.9×
Enbridge (ENB)	1.8×
Occidental Petroleum (OXY)	1.6×
EQT (EQT)	1.6×
Diamondback Energy (FANG)	1.5×
Expand Energy (EXE)	1.3×
Sunrun (RUN)	1.0×
NACCO Industries (NC)	0.9×

P/B Ratio for Williams Companies (WMB)

P/B Ratio daily chart for Williams Companies (WMB)

Historical P/B Ratio for Williams Companies (WMB) from 2001 to 2025

About P/B Ratio at Williams Companies (WMB)

Williams Companies P/B Ratio by Year

Williams Companies P/B Ratio 2025: 5.7×

Williams Companies P/B Ratio 2024: 5.3×

Williams Companies P/B Ratio 2023: 3.4×

Williams Companies P/B Ratio 2022: 3.5×

Williams Companies P/B Ratio 2021: 2.8×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Williams Companies (WMB) Key Financials

P/B Ratio daily chart for Williams Companies (WMB)

Historical P/B Ratio for Williams Companies (WMB) from 2001 to 2025

About P/B Ratio at Williams Companies (WMB)

Williams Companies P/B Ratio by Year

Williams Companies P/B Ratio 2025: 5.7×

Williams Companies P/B Ratio 2024: 5.3×

Williams Companies P/B Ratio 2023: 3.4×

Williams Companies P/B Ratio 2022: 3.5×

Williams Companies P/B Ratio 2021: 2.8×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Williams Companies's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Williams Companies?

+Is Williams Companies's P/B ratio high or low?

+What is Williams Companies's historical P/B ratio range?

+What was Williams Companies's P/B ratio in 2025?

+Why does Williams Companies's P/B ratio change over time?

Williams Companies (WMB) Key Financials