Williams Companies (WMB) Operating Margin (2009 - 2026)
Williams Companies (WMB) posted Operating Margin of 38.72% for Q2 2026, up 4.74 percentage points from 33.98% a year earlier but down 4.88 percentage points from the prior quarter.
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Analysis
Williams Companies (WMB) Operating Margin (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Margin at Williams Companies was 38.18%, up 5.49 percentage points year-over-year; for FY2025, it came in at 35.11%, up 3.32 percentage points from FY2024.
- Annual Operating Margin shows a five-year change of +6.59 percentage points (FY2020 to FY2025).
- In prior years, Williams Companies' Operating Margin was 31.79% in FY2024 (-7.73 pp), 39.53% in FY2023 (+12.00 pp), 27.52% in FY2022 (+2.77 pp) and 24.76% in FY2021 (-3.77 pp).
- Quarterly Operating Margin has run from a low of 14.34% in Q3 2021 to a high of 44.14% in Q1 2023 over five years.
- On a year-over-year basis, Operating Margin has increased in each of the last five quarters, with an average year-over-year change of +1.10 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Operating Margin in the past five years was Q1 2023, with a gain of 18.23 percentage points; the weakest was Q3 2021, with a drop of 18.82 percentage points.
- According to Business Quant data, Operating Margin for the three prior quarters was 43.60% (Q1 2026), 32.77% (Q4 2025) and 37.94% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 104.58 Bn | 100.18 Bn | 4.84 Bn | 9.93% |
| 2 | Williams Companies | 86.03 Bn | 84.75 Bn | 2.54 Bn | 38.72% |
| 3 | Enterprise Products Partners | 80.00 Bn | 78.39 Bn | - | 12.31% |
| 4 | Kinder Morgan | 74.74 Bn | 74.44 Bn | 3.07 Bn | 30.06% |
| 5 | Energy Transfer | 69.45 Bn | 62.63 Bn | 7.40 Bn | 10.41% |
| 6 | Tc Energy | 64.24 Bn | 60.32 Bn | 2.81 Bn | 135.28% |
| 7 | Targa Resources | 62.85 Bn | 62.33 Bn | 2.14 Bn | 27.80% |
| 8 | Cheniere Energy | 59.18 Bn | 54.01 Bn | 5.29 Bn | 74.84% |
| 9 | Mplx | 59.17 Bn | 52.74 Bn | 2.91 Bn | 41.61% |
| 10 | Oneok | 58.67 Bn | 57.06 Bn | 2.81 Bn | 13.22% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 38.72% |
| Mar 31, 2026 | 43.60% |
| Dec 31, 2025 | 32.77% |
| Sep 30, 2025 | 37.94% |
| Jun 30, 2025 | 33.98% |
| Mar 31, 2025 | 35.89% |
| Dec 31, 2024 | 28.91% |
| Sep 30, 2024 | 31.59% |
| Jun 30, 2024 | 29.79% |
| Mar 31, 2024 | 36.52% |
| Dec 31, 2023 | 39.04% |
| Sep 30, 2023 | 38.84% |
| Jun 30, 2023 | 35.04% |
| Mar 31, 2023 | 44.14% |
| Dec 31, 2022 | 36.59% |
| Sep 30, 2022 | 27.14% |
| Jun 30, 2022 | 18.96% |
| Mar 31, 2022 | 25.91% |
| Dec 31, 2021 | 28.77% |
| Sep 30, 2021 | 14.34% |
API Access
Williams Companies Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=WMB&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "WMB", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=WMB&period=max&api_key=YOUR_API_KEY");
const data = await res.json();