Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Williams Companies (WMB) delivered strong Q1 FY2026 results with net income surging 25.2% YoY to $865M and operating margin expanding 7.7 percentage points to 43.6%, despite a slight 0.6% dip in revenue to $3.03B.
Revenue
$3.03B
-0.59% YoY
EPS (Diluted)
$0.70
+25.00% YoY
Operating Income
$1.32B
+20.75% YoY
Source: SEC XBRL
Williams (WMB) reported Q1 FY2026 revenue of $3.03B, down 0.6% year over year. Operating margin was 43.6%, up 7.7 points from 35.9% a year earlier. Operating cash flow was $1.6B, up 11.9% year over year. WMB's fiscal Q1 FY2026 corresponds to calendar Q1 2026.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 0.67 | 0.51 | Beat +30.1% |
| Mar 2026This filing | 0.60 | 0.63 | Miss -4.6% |
| Dec 2025 | 0.72 | 0.57 | Beat +25.3% |
| Sep 2025 | 0.53 | 0.52 | Beat +2.5% |
Adjusted (non-GAAP) EPS of $0.60 versus the $0.63 analyst consensus — a -4.6% miss for Mar 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $0.70.
Compiled by AI from this SEC filing
Operating income jumped 20.7% YoY to $1.321B even as revenue edged down 0.6% to $3.03B, indicating significant cost discipline and margin expansion driving profitability improvements in Q1 FY2026.
Source: 10-Q Income Statement Data
Operating cash flow grew 11.9% YoY to $1.603B, reflecting the company's robust cash-generating capability from its midstream natural gas infrastructure assets, supporting ongoing capital investment and distributions.
Source: 10-Q Cash Flow Statement Data
Current liabilities declined sharply by 36.1% YoY to $4.006B while current assets rose 31.0% to $3.320B, reflecting improved near-term liquidity management even as total assets grew 8.5% to $59.57B.
Source: 10-Q Balance Sheet Data
Financing cash flow turned positive at $168M in Q1 FY2026 compared to an outflow of -$223M in the prior year period, a 175.3% swing that may reflect new debt issuances or other financing activities supporting growth investments.
Source: 10-Q Cash Flow Statement Data
Total assets grew 8.5% YoY to $59.57B, suggesting continued investment in pipeline and midstream infrastructure, consistent with WMB's strategy of expanding its natural gas transmission and gathering network.
Source: 10-Q Balance Sheet Data
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
WMB's current ratio stands at 0.83, meaning current liabilities exceed current assets. While this improved significantly from the prior year (when current liabilities were $6.27B), it still signals potential short-term liquidity constraints that could require refinancing or credit facility draws.
Source: 10-Q Balance Sheet Data
Revenue declined 0.6% YoY to $3.03B despite strong earnings growth, highlighting that top-line performance can be pressured by changes in natural gas throughput volumes or fee structures. Any sustained reduction in producer activity or commodity price weakness could compress revenues further.
Source: 10-Q Income Statement Data
With total assets of $59.57B and stockholders' equity of only $12.99B, WMB carries a substantial implied debt load. The ROA of only 1.45% reflects the capital-intensive nature of the business, and rising interest rates could increase financing costs materially.
Source: 10-Q Balance Sheet Data
Return on equity of 6.66% and ROA of 1.45% are modest figures for a company of WMB's scale, suggesting that the large asset base is not yet generating proportionally high returns for shareholders, which could limit valuation upside if growth investments underperform.
Source: 10-Q Key Ratios Data
Investing cash outflows of -$884M in Q1 FY2026, combined with the 8.5% growth in total assets, suggest ongoing capital deployment. Large infrastructure investments or acquisitions carry execution and integration risks that could weigh on returns if projects face delays or cost overruns.
Source: 10-Q Cash Flow Statement Data
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 3.03 $B | 3.05 $B | -0.59% |
Operating Income $B | 1.32 $B | 1.09 $B | +20.75% |
Net Income $M | 865.00 $M | 691.00 $M | +25.18% |
EPS (Basic) $ | 0.71 $ | 0.57 $ | +24.56% |
EPS (Diluted) $ | 0.70 $ | 0.56 $ | +25.00% |
Answers draw on this SEC filing and the data on this page
Williams' Q2 FY2026 net income surged 51% on expansion-driven service revenue and a one-time investment gain, while the company positioned for future growth with a major Haynesville acquisition and a power infrastructure joint venture.
Williams Companies (WMB) delivered strong FY2025 results with revenue rising 13.8% to $11.95B and operating income surging 25.7% to $4.20B, driven by robust natural gas infrastructure demand.
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