How does Williams Companies (WMB) make money?

Williams Companies (WMB) generates revenue primarily from Gas & NGL Marketing Services, which accounted for 62.2% of total revenue in TTM through Q1 2026. The company reported $11.9B in revenue and converted 23.8% of it into net profit, equivalent to roughly $2.84B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Williams Companies (WMB)?

Williams Companies (WMB) reported a gross profit margin of 62.8% in TTM through Q1 2026, equivalent to $7.49B in gross profit on $11.9B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Williams Companies (WMB)?

Williams Companies (WMB) reported an operating profit margin of 38.8% in TTM through Q1 2026, equivalent to $4.62B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Williams Companies (WMB)?

Williams Companies (WMB) reported a net profit margin of 23.8% in TTM through Q1 2026, equivalent to $2.84B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Williams Companies (WMB) profitable?

Yes. Williams Companies (WMB) reported $2.84B in net income for TTM through Q1 2026, with a net profit margin of 23.8%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Williams Companies (WMB) spend on capital expenditures?

Williams Companies (WMB) spent $5.35B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 44.8% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Williams Companies (WMB) generate?

Williams Companies (WMB) generated $722M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 6.1%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Williams Companies (WMB)?

Williams Companies (WMB) had an effective tax rate of 23.5% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Williams Companies (WMB)?

Williams Companies (WMB) reports revenue across 4 reportable product segments, led by Gas & NGL Marketing Services at 62.2% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Williams Companies Makes Money: 2026 Visual Revenue Map

Williams Companies (WMB) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 4, 2026).

Williams Companies discloses geographic revenue only in annual filings. to view the full breakdown.

Williams Companies (WMB) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Williams Companies (WMB), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Gas & NGL Marketing Services	$7.41B	62.2%
West	$2.74B	23%
Transmission And Gulf Of America	$1.25B	10.5%
Northeast G And P	$516M	4.3%
Total	$11.9B	100%

Gas & NGL Marketing Services$7.41B
West$2.74B
Transmission And Gulf Of America$1.25B
Northeast G And P$516M
Total$11.9B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Williams Companies (WMB) reports revenue across 4 reportable product segments; the largest segment was Gas & NGL Marketing Services at 62.2%, followed by West (23%) and Transmission And Gulf Of America (10.5%).

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