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Side-by-side financial comparison of Eastman Chemical Company (EMN) and Williams Companies (WMB). Click either name above to swap in a different company.
Williams Companies is the larger business by last-quarter revenue ($3.8B vs $2.0B, roughly 1.9× Eastman Chemical Company). Williams Companies runs the higher net margin — 19.1% vs 5.3%, a 13.8% gap on every dollar of revenue. On growth, Williams Companies posted the faster year-over-year revenue change (12.7% vs -13.8%). Over the past eight quarters, Williams Companies's revenue compounded faster (7.3% CAGR vs -8.6%).
Eastman Chemical Company is an American chemical products manufacturer based in Kingsport, Tennessee. Founded in 1920, it was formerly a subsidiary of Kodak until 1994. The company is an independent global specialty materials company that produces a broad range of advanced materials, chemicals and fibers for everyday purposes. It operates 36 manufacturing sites worldwide and employs approximately 14,000 people. In 2023, Eastman had sales revenue of approximately $9.21 billion.
The Williams Companies, Inc. is an American energy company based in Tulsa, Oklahoma. Its core business is natural gas processing and transportation, with additional petroleum and electricity generation assets. A Fortune 500 company, its common stock is a component of the S&P 500.
EMN vs WMB — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $3.8B |
| Net Profit | $105.0M | $734.0M |
| Gross Margin | 17.1% | — |
| Operating Margin | — | 27.3% |
| Net Margin | 5.3% | 19.1% |
| Revenue YoY | -13.8% | 12.7% |
| Net Profit YoY | -42.3% | 51.0% |
| EPS (diluted) | $0.93 | $0.60 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $3.8B | ||
| Q3 25 | $2.2B | $3.5B | ||
| Q2 25 | $2.3B | $3.4B | ||
| Q1 25 | $2.3B | $4.2B | ||
| Q4 24 | $2.2B | $3.4B | ||
| Q3 24 | $2.5B | $3.0B | ||
| Q2 24 | $2.4B | $2.8B |
| Q1 26 | $105.0M | — | ||
| Q4 25 | $105.0M | $734.0M | ||
| Q3 25 | $47.0M | $647.0M | ||
| Q2 25 | $140.0M | $546.0M | ||
| Q1 25 | $182.0M | $691.0M | ||
| Q4 24 | $330.0M | $486.0M | ||
| Q3 24 | $180.0M | $706.0M | ||
| Q2 24 | $230.0M | $401.0M |
| Q1 26 | 17.1% | — | ||
| Q4 25 | 17.1% | — | ||
| Q3 25 | 19.7% | — | ||
| Q2 25 | 22.1% | — | ||
| Q1 25 | 24.8% | — | ||
| Q4 24 | 24.7% | — | ||
| Q3 24 | 24.6% | — | ||
| Q2 24 | 25.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 27.3% | ||
| Q3 25 | 6.1% | 31.8% | ||
| Q2 25 | 7.4% | 28.0% | ||
| Q1 25 | 11.0% | 26.1% | ||
| Q4 24 | 13.2% | 23.2% | ||
| Q3 24 | 11.4% | 27.6% | ||
| Q2 24 | 12.1% | 24.4% |
| Q1 26 | 5.3% | — | ||
| Q4 25 | 5.3% | 19.1% | ||
| Q3 25 | 2.1% | 18.5% | ||
| Q2 25 | 6.1% | 16.2% | ||
| Q1 25 | 7.9% | 16.5% | ||
| Q4 24 | 14.7% | 14.2% | ||
| Q3 24 | 7.3% | 23.3% | ||
| Q2 24 | 9.7% | 14.1% |
| Q1 26 | $0.93 | — | ||
| Q4 25 | $0.93 | $0.60 | ||
| Q3 25 | $0.40 | $0.53 | ||
| Q2 25 | $1.20 | $0.45 | ||
| Q1 25 | $1.57 | $0.56 | ||
| Q4 24 | $2.81 | $0.39 | ||
| Q3 24 | $1.53 | $0.58 | ||
| Q2 24 | $1.94 | $0.33 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $566.0M | — |
| Total DebtLower is stronger | — | $27.3B |
| Stockholders' EquityBook value | $6.0B | $12.8B |
| Total Assets | $14.9B | $58.6B |
| Debt / EquityLower = less leverage | — | 2.13× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $566.0M | — | ||
| Q4 25 | $566.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $837.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $27.3B | ||
| Q3 25 | — | $25.6B | ||
| Q2 25 | — | $25.6B | ||
| Q1 25 | — | $24.1B | ||
| Q4 24 | — | $24.7B | ||
| Q3 24 | — | $24.8B | ||
| Q2 24 | — | $24.1B |
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.0B | $12.8B | ||
| Q3 25 | $5.8B | $12.5B | ||
| Q2 25 | $5.8B | $12.4B | ||
| Q1 25 | $5.9B | $12.5B | ||
| Q4 24 | $5.8B | $12.4B | ||
| Q3 24 | $5.7B | $12.4B | ||
| Q2 24 | $5.6B | $12.3B |
| Q1 26 | $14.9B | — | ||
| Q4 25 | $14.9B | $58.6B | ||
| Q3 25 | $15.0B | $55.7B | ||
| Q2 25 | $15.2B | $56.1B | ||
| Q1 25 | $15.0B | $54.9B | ||
| Q4 24 | $15.2B | $54.5B | ||
| Q3 24 | $15.1B | $53.8B | ||
| Q2 24 | $14.9B | $52.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.13× | ||
| Q3 25 | — | 2.04× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 1.93× | ||
| Q4 24 | — | 1.99× | ||
| Q3 24 | — | 2.00× | ||
| Q2 24 | — | 1.96× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $1.6B |
| Free Cash FlowOCF − Capex | — | $-379.0M |
| FCF MarginFCF / Revenue | — | -9.9% |
| Capex IntensityCapex / Revenue | — | 50.9% |
| Cash ConversionOCF / Net Profit | — | 2.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $502.0M | $1.6B | ||
| Q3 25 | $402.0M | $1.4B | ||
| Q2 25 | $233.0M | $1.4B | ||
| Q1 25 | $-167.0M | $1.4B | ||
| Q4 24 | $540.0M | $1.2B | ||
| Q3 24 | $396.0M | $1.2B | ||
| Q2 24 | $367.0M | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | $390.0M | $-379.0M | ||
| Q3 25 | $265.0M | $485.0M | ||
| Q2 25 | $83.0M | $478.0M | ||
| Q1 25 | $-314.0M | $421.0M | ||
| Q4 24 | $361.0M | $450.0M | ||
| Q3 24 | $276.0M | $561.0M | ||
| Q2 24 | $252.0M | $700.0M |
| Q1 26 | — | — | ||
| Q4 25 | 19.8% | -9.9% | ||
| Q3 25 | 12.0% | 13.9% | ||
| Q2 25 | 3.6% | 14.2% | ||
| Q1 25 | -13.7% | 10.1% | ||
| Q4 24 | 16.1% | 13.2% | ||
| Q3 24 | 11.2% | 18.5% | ||
| Q2 24 | 10.7% | 24.6% |
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 50.9% | ||
| Q3 25 | 6.2% | 27.3% | ||
| Q2 25 | 6.6% | 28.8% | ||
| Q1 25 | 6.4% | 24.2% | ||
| Q4 24 | 8.0% | 22.5% | ||
| Q3 24 | 4.9% | 22.5% | ||
| Q2 24 | 4.9% | 20.3% |
| Q1 26 | — | — | ||
| Q4 25 | 4.78× | 2.15× | ||
| Q3 25 | 8.55× | 2.22× | ||
| Q2 25 | 1.66× | 2.66× | ||
| Q1 25 | -0.92× | 2.07× | ||
| Q4 24 | 1.64× | 2.51× | ||
| Q3 24 | 2.20× | 1.76× | ||
| Q2 24 | 1.60× | 3.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EMN
Segment breakdown not available.
WMB
| Services | $2.2B | 57% |
| Natural Gas Us Regulated | $740.0M | 19% |
| West | $730.0M | 19% |
| Non Regulated Service Commodity Consideration | $51.0M | 1% |
| Natural Gas Gathering Transportation Marketing And Processing | $45.0M | 1% |
| Affiliated Entity | $23.0M | 1% |
| Other | $14.0M | 0% |
| Other Service | $11.0M | 0% |
