Filing Flows › Williams Companies (WMB) › Q4 2025
Williams Companies (WMB) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Williams Companies (WMB) reported revenue of $3.2B for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and +9% from the quarter before. Operating margin was 32.8%, net earnings $734M (23.0% of revenue).
Williams Companies, Q4 2025: revenue $3.2B (+17% year over year), operating margin 32.8%, net earnings $734M, operating cash flow $1.6B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.2B | +9% | +17% |
| Operating profit | $1.0B | -6% | +32% |
| Net earnings | $734M | +13% | +51% |
| Operating cash flow | $1.6B | +10% | +29% |
What changed
Revenue was $3.2B in Q4 2025, up 17% year over year and up 9% from the previous quarter. Service was the largest line at 69% of revenue.
Operating profit was $1.0B, a 32.8% margin (up 3.9 points year over year). Of the extra revenue versus a year earlier, 56% reached operating profit, above the 29% margin then. Total costs grew 10% against revenue growth of 17%. Net earnings were $0.73B, up 51% year over year. The effective tax rate was 24.0%.
Operating cash flow was $1.6B (up 29% year over year), 204% of net income including minority interests. Non-cash charges added back $0.59B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.19B. Capital expenditures of $2.0B exceeded it, leaving free cash flow of −$0.38B.
Questions
What was Williams Companies' revenue in the fourth quarter 2025?
Williams Companies (WMB) reported revenue of $3.2B for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and +9% from the quarter before.
Was Williams Companies profitable in the fourth quarter 2025?
Operating profit was $1.0B (32.8% of revenue) and net earnings $734M.
Source: Williams Companies 10-K on SEC EDGAR.