Williams Companies (WMB) Operating Margin (2009 - 2026)
Williams Companies (WMB) posted Operating Margin of 35.25% for Q3 2026, down 2.69 percentage points from 37.94% a year earlier and down 3.47 percentage points from the prior quarter.
Powered by 
Analysis
Williams Companies (WMB) Operating Margin (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Operating Margin at Williams Companies was 37.48%, up 3.20 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 18.96% in Q2 2022 to a high of 44.14% in Q1 2023 over five years.
- On a year-over-year basis, Operating Margin increased in five of the last eight quarters, with an average year-over-year change of +1.67 percentage points.
- 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 Q4 2024, with a drop of 10.13 percentage points.
- According to Business Quant data, Operating Margin for the three prior quarters was 38.72% (Q2 2026), 43.60% (Q1 2026) and 32.77% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 103.53 Bn | 99.13 Bn | 4.84 Bn | 9.93% |
| 2 | Williams Companies | 82.50 Bn | 79.53 Bn | 2.59 Bn | 35.25% |
| 3 | Enterprise Products Partners | 79.39 Bn | 77.75 Bn | - | 11.09% |
| 4 | Kinder Morgan | 68.14 Bn | 66.99 Bn | 2.97 Bn | 25.60% |
| 5 | Energy Transfer | 65.55 Bn | 61.38 Bn | 6.57 Bn | 7.50% |
| 6 | Tc Energy | 65.45 Bn | 62.21 Bn | - | - |
| 7 | Cheniere Energy | 59.68 Bn | 53.83 Bn | 2.97 Bn | 31.02% |
| 8 | Targa Resources | 58.63 Bn | 58.09 Bn | 2.02 Bn | 19.58% |
| 9 | Mplx | 57.55 Bn | 51.58 Bn | 3.19 Bn | 40.94% |
| 10 | Oneok | 54.31 Bn | 53.71 Bn | 2.84 Bn | 12.59% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 35.25% |
| 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% |
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();