WMBWilliams Companies

$72.67+23% 1Y

$72.67

$55.2452 weeks$78.82

Is the business good?

Mixed

The checks split: earnings fully cash-backed (1.7×) and margins widening, but returns that lean on debt.

2 good, 1 to watch, 1 without data

Profits arrive as cash1.68×derived · Jun 30, 2026

Operating profit is fully backed by cash. Conversion is worsening vs a year ago.

Margin direction, 3 years+2.5 pts

Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.

Where ROE comes from4.6× leverage

Leverage-amplified, a high assets-to-equity ratio does much of the work. ROE 21% = margin × turnover × leverage.

Unless marked, from derived.

Against the whole market›

Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.

FCF conversionbottom 10% of the market

Leverage (Debt/EBITDA)behind 72% of the market

Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.

Williams Companies earns 8.4% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.

8.4%

Return on invested capital · cost of capital 9.0% · 0.59 points below what the capital costs: growth destroys value

Operating margin: 38%
Operating margin · Oil & Gas Midstream median 30% · 12 months to Q2 2026
Cash conversion: 1.68×
Cash conversion · 1.84× a year ago · operating cash flow covers the operating profit after tax
Share count, year on year: +0.08%
Share count, year on year · flat: no meaningful dilution

Details›

Operating margin12 months to Q2 2026: 38%
Net margin12 months to Q2 2026: 25%
Free cash flow margin: −0.88%
Revenue, trailing twelve months: $12.2B
Free cash flow, trailing twelve months: −$108M
Net income, trailing twelve months: $3.07B
Return on invested capitaloperating profit after tax ÷ debt + equity − cash: 8.4%

Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.

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