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Williams Companies vs Western Midstream Partners, LP: WMB and WES compared
Williams Companies is the larger company: $3.2B of revenue in its latest quarter (Q3 2026) against $1.2B for Western Midstream Partners, LP (Q3 2026). Western Midstream Partners, LP is growing faster (+25% against +10% a year earlier). Western Midstream Partners, LP is more profitable, with an operating margin of 38.6% against 35.2%.
Where the money goes: WMB and WES
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.
Western Midstream Partners, LP (WES) · Q3 2026
Western Midstream Partners, LP, Q3 2026: revenue $1.2B (+25% year over year), operating margin 38.6%, net earnings $332M. The chart follows the revenue to costs, profit and cash.
| Williams Companies (WMB) | Western Midstream Partners, LP (WES) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $3.2B | $1.2B |
| Revenue growth, Y/Y | +10% | +25% |
| Operating margin | 35.2% | 38.6% |
| Net earnings | $700M | $332M |
| Net margin | 21.7% | 27.8% |
| Market value | $79.2B | $15.7B |
| P/E | 24.4× | 12.8× |
| Analysts’ mean target | $85.42 | $49.54 |
Where the revenue comes from
Williams Companies
- Service revenues: $2.3B (72%)
- Product sales: $845M (26%)
- Service revenues – commodity consideration: $57.0M (2%)
Questions
Which is bigger, Williams Companies or Western Midstream Partners, LP?
Williams Companies is the larger company: $3.2B of revenue in its latest quarter (Q3 2026) against $1.2B for Western Midstream Partners, LP (Q3 2026).
Is Williams Companies or Western Midstream Partners, LP growing faster?
Western Midstream Partners, LP is growing faster (+25% against +10% a year earlier).
Which is more profitable, Williams Companies or Western Midstream Partners, LP?
Western Midstream Partners, LP is more profitable, with an operating margin of 38.6% against 35.2%.
More: Williams Companies earnings · how Williams Companies makes money · Western Midstream Partners, LP earnings · how Western Midstream Partners, LP makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Nov 2, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.