--- title: Williams Companies (WMB) — intrinsic value and fair price canonical: https://sweetvaluelab.com/stocks/wmb ticker: WMB as_of: 2026-10-17 sector: Energy industry: Oil & Gas Midstream --- # Williams Companies (WMB) Williams Companies (WMB) closed at $71.28 on Oct 16, 2026, overvalued by 97% vs its model value of $36.13 (from a five-year discounted cash flow). ## Key figures | Figure | Value | | --- | ---: | | Last close | $71.28 (Oct 16, 2026) | | Model value (from a five-year discounted cash flow) | $36.13 | | Price vs model | overvalued by 97% vs model | | Range of that model | $14.12 – $136.16 | | Market value | $87.2B | | P/E (fiscal 2025) | 33.3 | | Net margin (fiscal 2025) | 21.9% | | Free cash flow (fiscal 2025) | $1.0B | | Dividend yield (trailing twelve months) | 2.91% | | Beta | 0.66 | | Cost of capital (WACC) | 7.18% | | Business classification | Dividend Payer (Moderate growth (~11% recent), Moderate margins (18% net margin), Pays dividends, Highly cyclical earnings, High leverage (D/E 2.3x)) | ## Dividends | Figure | Value | | --- | ---: | | Trailing dividend yield | 2.91% | | Dividends per share, last 12 months | $2.07 | | Dividends / free cash flow (fiscal 2025) | 243.0% | | Raised | 9 years in a row | | Growth over 5 years | 4.9% a year | | Latest payment | $0.525, ex-date Sep 11, 2026, paid Sep 28, 2026 | | Year of payments | Dividends per share | | --- | ---: | | To Sep 9, 2021 | $1.63 | | To Sep 8, 2022 | $1.69 | | To Sep 8, 2023 | $1.77 | | To Sep 13, 2024 | $1.87 | | To Sep 12, 2025 | $1.98 | | Trailing twelve months (to Sep 11, 2026) | $2.08 | ## Valuation models Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026. | Model | Role | Value per share | Low | High | | --- | --- | ---: | ---: | ---: | | DCF · Perpetuity growth · 5y | primary | $36.13 | $14.12 | $136.16 | | DCF · Perpetuity growth · 10y | cross check | $49.31 | $22.50 | $170.28 | | DCF · EBITDA exit · 5y | cross check | $49.28 | $24.07 | $79.12 | | DCF · EBITDA exit · 10y | cross check | $64.99 | $33.03 | $108.31 | | P/E · peers | cross check | $39.32 | $32.83 | $53.97 | | P/E · own history | cross check | $60.91 | $44.69 | $75.08 | | PEG | sanity check | $46.45 | $46.45 | $46.45 | | EV/EBITDA · peers | cross check | $32.13 | $26.69 | $43.89 | | EV/Revenue · peers | cross check | $18.68 | $2.87 | $49.20 | | Earnings power value | cross check | $0.00 | $0.00 | $0.00 | | Dividend discount | cross check | $49.61 | $33.65 | $83.38 | ## Insider activity (SEC Form 4) Past 90 days: 0 open-market buys ($0) and 5 open-market sales ($1.4M); 10b5-1 plan sales included. | Date | Insider | Relationship | Transaction | Shares | Value | | --- | --- | --- | --- | ---: | ---: | | Oct 1, 2026 | Wilson Terrance Lane | SVP & General Counsel | Open-market sell | 2,000 | $135,700 | | Sep 1, 2026 | Wilson Terrance Lane | SVP & General Counsel | Open-market sell | 2,000 | $151,120 | | Aug 14, 2026 | Wilson Terrance Lane | SVP & General Counsel | Open-market sell | 2,800 | $209,540.8 | | Aug 14, 2026 | Wilson Terrance Lane | SVP & General Counsel | Open-market sell | 10,200 | $763,776 | | Aug 14, 2026 | Wilson Terrance Lane | SVP & General Counsel | Bona fide gift | 1,900 | $0 | ## Recent SEC filings | Filed | Form | What | Filing | | --- | --- | --- | --- | | Sep 10, 2026 | 8-K | 1.01 Entry into a Material Agreement; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/107263/000119312526387930/d116217d8k.htm | | Sep 10, 2026 | 8-K | 7.01 Regulation FD Disclosure; 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/107263/000119312526387359/d113424d8k.htm | | Sep 8, 2026 | 424B5 | Prospectus supplement | https://www.sec.gov/Archives/edgar/data/107263/000119312526384435/d110651d424b5.htm | | Sep 3, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/107263/000119312526381926/d111572d8k.htm | | Aug 21, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/107263/000010726326000028/wmb-20260821.htm | ## Superinvestors holding it (latest 13F) | Manager | Quarter | Shares | Value | | --- | --- | ---: | ---: | | AKO Capital | 2026-06-30 | 1,486,116 | $110.5M | | Dodge & Cox | 2026-06-30 | 944,450 | $70.2M | | Bridgewater | 2026-06-30 | 31,211 | $2.3M | | First Eagle | 2026-06-30 | 4,231 | $314,533 | 4 tracked managers in all. ## About The Williams Companies, Inc., alongside its subsidiaries, operates as a prominent energy infrastructure entity, primarily conducting business throughout the United States. The company’s operations are organized into four key segments: Transmission & Gulf of Mexico, Northeast G&P, West, and Gas & NGL Marketing Services. The Transmission & Gulf of Mexico division manages crucial natural gas pipelines such as Transco and Northwest, in addition to natural gas gathering and processing, and crude oil production handling and transportation assets situated in the Gulf Coast. This segment also oversees various petrochemical and feedstock pipelines. Focusing on midstream activities, the Northeast G&P segment handles gathering, processing, and fractionation within the Marcellus Shale region, predominantly in Pennsylvania and New York, and the Utica Shale region of eastern Ohio. The West segment del… --- Source: https://sweetvaluelab.com/stocks/wmb (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.