Williams Companies
Williams Companies returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | 8.94% | — | 23.96% | 5.26% | — |
| FY 2026 Q1 | Mar 31, 2026 | — | 8.49% | — | 21.89% | 4.88% | — |
| FY 2025 Q4 | Dec 31, 2025 | — | 8.25% | — | 20.72% | 4.63% | — |
| FY 2025 Q3 | Sep 30, 2025 | — | 7.92% | — | 18.98% | 4.33% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | 7.5% | — | 19.62% | 4.48% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | 7.1% | — | 18.29% | 4.24% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | 6.96% | — | 17.89% | 4.15% | — |
| FY 2024 Q3 | Sep 30, 2024 | — | 7.7% | — | 23.68% | 5.5% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | 8.3% | — | 23.54% | 5.57% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | 8.55% | — | 23.78% | 5.67% | — |
| FY 2023 Q4 | Dec 31, 2023 | — | 9.54% | — | 26.59% | 6.29% | — |
| FY 2023 Q3 | Sep 30, 2023 | 8.85% | 9.66% | 57.87% | 23.37% | 5.45% | 4.5 pp |
| FY 2023 Q2 | Jun 30, 2023 | 8.62% | 9.66% | 72.69% | 23.17% | 5.5% | 4.2 pp |
| FY 2023 Q1 | Mar 31, 2023 | 8.24% | 8.59% | 45.62% | 22.45% | 5.47% | 3.8 pp |
| FY 2022 Q4 | Dec 31, 2022 | 6.9% | 7% | 75.74% | 17.86% | 4.27% | 2.5 pp |
| FY 2022 Q3 | Sep 30, 2022 | 6.74% | 6.81% | 205.54% | 17.76% | 4.23% | 2.3 pp |
| FY 2022 Q2 | Jun 30, 2022 | 5.53% | 5.79% | 136.76% | 13.76% | 3.37% | 1.1 pp |
| FY 2022 Q1 | Mar 31, 2022 | 5.32% | 6.1% | — | 12.76% | 3.22% | 0.9 pp |
| FY 2021 Q4 | Dec 31, 2021 | 5.44% | 6.23% | — | 13.06% | 3.31% | 1 pp |
| FY 2021 Q3 | Sep 30, 2021 | 4.48% | 5.3% | — | 8.67% | 2.24% | 0.1 pp |
| FY 2021 Q2 | Jun 30, 2021 | 5.05% | 5.9% | — | 9.71% | 2.54% | 0.6 pp |
| FY 2021 Q1 | Mar 31, 2021 | 5.02% | 5.96% | — | 9.57% | 2.57% | 0.6 pp |
| FY 2020 Q4 | Dec 31, 2020 | 4.19% | 5.25% | — | 1.66% | 0.47% | -0.2 pp |
| FY 2020 Q3 | Sep 30, 2020 | 0.65% | 4.49% | — | 1.68% | 0.48% | -3.8 pp |
| FY 2020 Q2 | Jun 30, 2020 | — | 4.43% | — | 0.98% | 0.29% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | 4.25% | — | 1.01% | 0.3% | — |
| FY 2019 Q4 | Dec 31, 2019 | 3.44% | 4.49% | 723.64% | 6.05% | 1.86% | -1 pp |
| FY 2019 Q3 | Sep 30, 2019 | 1.98% | 2.41% | — | 1.04% | 0.33% | -2.4 pp |
| FY 2019 Q2 | Jun 30, 2019 | 1.22% | 2.12% | — | 0.53% | 0.14% | -3.2 pp |
| FY 2019 Q1 | Mar 31, 2019 | 1.05% | 1.93% | — | -0.95% | -0.24% | -3.3 pp |
| FY 2018 Q4 | Dec 31, 2018 | 1.2% | 1.76% | — | -1.28% | -0.34% | -3.2 pp |
| FY 2018 Q3 | Sep 30, 2018 | — | 2.76% | — | 17.73% | 4.51% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | 2.22% | — | 22.74% | 4.22% | — |
| FY 2018 Q1 | Mar 31, 2018 | — | 2.13% | — | 21.8% | 4.13% | — |
| FY 2017 Q4 | Dec 31, 2017 | — | 2.06% | — | 30.41% | 4.67% | — |
| FY 2017 Q3 | Sep 30, 2017 | 3.82% | 3.77% | — | 7.28% | 1.01% | -0.6 pp |
| FY 2017 Q2 | Jun 30, 2017 | 3.69% | 3.86% | — | 7.61% | 1.03% | -0.7 pp |
| FY 2017 Q1 | Mar 31, 2017 | 2.17% | 1.9% | — | 0.2% | 0.03% | -2.2 pp |
| FY 2016 Q4 | Dec 31, 2016 | — | 1.55% | — | -7.86% | -0.88% | — |
| FY 2016 Q3 | Sep 30, 2016 | — | -1.37% | — | -18.36% | -2.29% | — |
| FY 2016 Q2 | Jun 30, 2016 | — | -1.33% | — | -19.2% | -2.47% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | 0.55% | — | -10.16% | -1.42% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | 0.48% | — | -7.65% | -1.15% | — |
| FY 2015 Q3 | Sep 30, 2015 | 2.42% | 3.21% | 38.08% | 4.08% | 0.67% | -2 pp |
| FY 2015 Q2 | Jun 30, 2015 | 2.69% | 3.64% | 0.69% | 26.03% | 4.77% | -1.7 pp |
| FY 2015 Q1 | Mar 31, 2015 | 2.82% | 3.72% | -0.03% | 31.87% | 5.19% | -1.6 pp |
| FY 2014 Q4 | Dec 31, 2014 | 3.33% | 4.29% | 0.72% | 30.99% | 5.44% | -1.1 pp |
| FY 2014 Q3 | Sep 30, 2014 | 2.68% | 3.65% | -1.14% | 27.09% | 5% | -1.7 pp |
| FY 2014 Q2 | Jun 30, 2014 | 3.66% | 4.76% | -2.63% | 5.89% | 1.22% | -0.7 pp |
| FY 2014 Q1 | Mar 31, 2014 | 4.61% | 5.59% | -7.16% | 8.69% | 1.54% | 0.2 pp |
| FY 2013 Q4 | Dec 31, 2013 | 4.65% | 5.74% | -11.92% | 8.94% | 1.67% | 0.3 pp |
| FY 2013 Q3 | Sep 30, 2013 | 6.34% | 6.74% | -3.97% | 14.75% | 2.49% | 1.9 pp |
| FY 2013 Q2 | Jun 30, 2013 | 6.67% | 7.24% | -7.88% | 15.86% | 2.64% | 2.3 pp |
| FY 2013 Q1 | Mar 31, 2013 | 7.4% | 7.65% | -7% | 17.73% | 2.8% | 3 pp |
| FY 2012 Q4 | Dec 31, 2012 | 8.23% | 8.57% | -8% | 26.25% | 4.21% | 3.8 pp |
| FY 2012 Q3 | Sep 30, 2012 | 7.69% | 7.24% | — | 4.84% | 1.12% | 3.3 pp |
| FY 2012 Q2 | Jun 30, 2012 | 9.03% | 8.04% | — | 7.17% | 1.67% | 4.6 pp |
| FY 2012 Q1 | Mar 31, 2012 | 10.77% | 9.85% | — | 10.09% | 2.23% | 6.4 pp |
| FY 2011 Q4 | Dec 31, 2011 | 12.03% | 10.03% | — | 8.28% | 1.81% | 7.6 pp |
| FY 2011 Q3 | Sep 30, 2011 | 10.52% | 8.72% | — | 13.31% | 3.98% | 6.1 pp |
| FY 2011 Q2 | Jun 30, 2011 | 0.98% | 0.77% | — | -7.05% | -2.14% | -3.4 pp |
| FY 2011 Q1 | Mar 31, 2011 | 0.26% | 0.2% | — | -7.72% | -2.32% | -4.1 pp |
| FY 2010 Q4 | Dec 31, 2010 | — | 0.19% | — | -13.94% | -4.37% | — |
| FY 2010 Q3 | Sep 30, 2010 | — | 0.26% | — | -14.34% | -4.5% | — |
| FY 2010 Q2 | Jun 30, 2010 | — | 7.65% | — | 3.85% | 1.23% | — |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 4.4%, rounded from the Utility · General benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · WMB, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.