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Kinder Morgan vs Williams Companies: KMI and WMB compared
Kinder Morgan is the larger company: $4.5B of revenue in its latest quarter (Q3 2026) against $3.2B for Williams Companies (Q3 2026). Williams Companies is growing faster (+10% against +9% a year earlier). Williams Companies is more profitable, with an operating margin of 35.2% against 25.6%.
Where the money goes: KMI and WMB
Kinder Morgan (KMI) · Q3 2026
Kinder Morgan, Q3 2026: revenue $4.5B (+9% year over year), operating margin 25.6%, net earnings $764M, operating cash flow $1.6B. The chart follows the revenue to costs, profit and cash.
Williams Companies (WMB) · Q3 2026
Williams Companies, Q3 2026: revenue $3.2B (+10% year over year), operating margin 35.2%, net earnings $700M. The chart follows the revenue to costs, profit and cash.
| Kinder Morgan (KMI) | Williams Companies (WMB) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $4.5B | $3.2B |
| Revenue growth, Y/Y | +9% | +10% |
| Operating margin | 25.6% | 35.2% |
| Net earnings | $764M | $700M |
| Net margin | 16.9% | 21.7% |
| Operating cash flow | $1.6B | — |
| Free cash flow | $545M | — |
| Market value | $66.7B | $79.2B |
| P/E | 18.5× | 24.4× |
| Analysts’ mean target | $37.50 | $85.42 |
Where the revenue comes from
Kinder Morgan
- Services: $2.5B (55%)
- Commodity sales: $2.1B (45%)
Williams Companies
- Service revenues: $2.3B (72%)
- Product sales: $845M (26%)
- Service revenues – commodity consideration: $57.0M (2%)
Questions
Which is bigger, Kinder Morgan or Williams Companies?
Kinder Morgan is the larger company: $4.5B of revenue in its latest quarter (Q3 2026) against $3.2B for Williams Companies (Q3 2026).
Is Kinder Morgan or Williams Companies growing faster?
Williams Companies is growing faster (+10% against +9% a year earlier).
Which is more profitable, Kinder Morgan or Williams Companies?
Williams Companies is more profitable, with an operating margin of 35.2% against 25.6%.
More: Kinder Morgan earnings · how Kinder Morgan makes money · Williams Companies earnings · how Williams Companies makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 23, 2026; 8-K filed Nov 2, 2026). Fiscal quarters can end on different dates. Not investment advice.