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Side-by-side financial comparison of Williams Companies (WMB) and XPO, Inc. (XPO). Click either name above to swap in a different company.
Williams Companies is the larger business by last-quarter revenue ($3.8B vs $2.1B, roughly 1.8× XPO, Inc.). Williams Companies runs the higher net margin — 19.1% vs 4.8%, a 14.3% gap on every dollar of revenue. On growth, Williams Companies posted the faster year-over-year revenue change (12.7% vs 7.3%). Over the past eight quarters, Williams Companies's revenue compounded faster (7.3% CAGR vs 0.4%).
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.
XPO, Inc., formerly XPO Logistics, is an American transportation company that conducts less-than-truckload shipping in North America. The company has headquarters in Greenwich, Connecticut, and has 592 locations globally. XPO is the second largest provider of less-than-truckload (LTL) services in North America, operating in 99 percent of all U.S. postal codes.
WMB vs XPO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.8B | $2.1B |
| Net Profit | $734.0M | $101.0M |
| Gross Margin | — | — |
| Operating Margin | 27.3% | 8.3% |
| Net Margin | 19.1% | 4.8% |
| Revenue YoY | 12.7% | 7.3% |
| Net Profit YoY | 51.0% | 46.4% |
| EPS (diluted) | $0.60 | $0.85 |
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 | — | $2.1B | ||
| Q4 25 | $3.8B | $2.0B | ||
| Q3 25 | $3.5B | $2.1B | ||
| Q2 25 | $3.4B | $2.1B | ||
| Q1 25 | $4.2B | $2.0B | ||
| Q4 24 | $3.4B | $1.9B | ||
| Q3 24 | $3.0B | $2.1B | ||
| Q2 24 | $2.8B | $2.1B |
| Q1 26 | — | $101.0M | ||
| Q4 25 | $734.0M | $59.0M | ||
| Q3 25 | $647.0M | $82.0M | ||
| Q2 25 | $546.0M | $106.0M | ||
| Q1 25 | $691.0M | $69.0M | ||
| Q4 24 | $486.0M | $75.0M | ||
| Q3 24 | $706.0M | $95.0M | ||
| Q2 24 | $401.0M | $150.0M |
| Q1 26 | — | 8.3% | ||
| Q4 25 | 27.3% | 7.1% | ||
| Q3 25 | 31.8% | 7.8% | ||
| Q2 25 | 28.0% | 9.5% | ||
| Q1 25 | 26.1% | 7.7% | ||
| Q4 24 | 23.2% | 7.8% | ||
| Q3 24 | 27.6% | 8.6% | ||
| Q2 24 | 24.4% | 9.5% |
| Q1 26 | — | 4.8% | ||
| Q4 25 | 19.1% | 2.9% | ||
| Q3 25 | 18.5% | 3.9% | ||
| Q2 25 | 16.2% | 5.1% | ||
| Q1 25 | 16.5% | 3.5% | ||
| Q4 24 | 14.2% | 3.9% | ||
| Q3 24 | 23.3% | 4.6% | ||
| Q2 24 | 14.1% | 7.2% |
| Q1 26 | — | $0.85 | ||
| Q4 25 | $0.60 | $0.49 | ||
| Q3 25 | $0.53 | $0.68 | ||
| Q2 25 | $0.45 | $0.89 | ||
| Q1 25 | $0.56 | $0.58 | ||
| Q4 24 | $0.39 | $0.63 | ||
| Q3 24 | $0.58 | $0.79 | ||
| Q2 24 | $0.33 | $1.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $237.0M |
| Total DebtLower is stronger | $27.3B | $3.3B |
| Stockholders' EquityBook value | $12.8B | $1.9B |
| Total Assets | $58.6B | $8.2B |
| Debt / EquityLower = less leverage | 2.13× | 1.77× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $237.0M | ||
| Q4 25 | — | $310.0M | ||
| Q3 25 | — | $335.0M | ||
| Q2 25 | — | $225.0M | ||
| Q1 25 | — | $212.0M | ||
| Q4 24 | — | $246.0M | ||
| Q3 24 | — | $378.0M | ||
| Q2 24 | — | $250.0M |
| Q1 26 | — | $3.3B | ||
| 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 | — | $1.9B | ||
| Q4 25 | $12.8B | $1.9B | ||
| Q3 25 | $12.5B | $1.8B | ||
| Q2 25 | $12.4B | $1.8B | ||
| Q1 25 | $12.5B | $1.6B | ||
| Q4 24 | $12.4B | $1.6B | ||
| Q3 24 | $12.4B | $1.6B | ||
| Q2 24 | $12.3B | $1.5B |
| Q1 26 | — | $8.2B | ||
| Q4 25 | $58.6B | $8.2B | ||
| Q3 25 | $55.7B | $8.2B | ||
| Q2 25 | $56.1B | $8.1B | ||
| Q1 25 | $54.9B | $7.9B | ||
| Q4 24 | $54.5B | $7.7B | ||
| Q3 24 | $53.8B | $7.9B | ||
| Q2 24 | $52.4B | $7.7B |
| Q1 26 | — | 1.77× | ||
| 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 | $183.0M |
| Free Cash FlowOCF − Capex | $-379.0M | — |
| FCF MarginFCF / Revenue | -9.9% | — |
| Capex IntensityCapex / Revenue | 50.9% | — |
| Cash ConversionOCF / Net Profit | 2.15× | 1.81× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $183.0M | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.4B | $371.0M | ||
| Q2 25 | $1.4B | $247.0M | ||
| Q1 25 | $1.4B | $142.0M | ||
| Q4 24 | $1.2B | $189.0M | ||
| Q3 24 | $1.2B | $264.0M | ||
| Q2 24 | $1.3B | $210.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-379.0M | — | ||
| Q3 25 | $485.0M | $215.0M | ||
| Q2 25 | $478.0M | $51.0M | ||
| Q1 25 | $421.0M | $-57.0M | ||
| Q4 24 | $450.0M | $23.0M | ||
| Q3 24 | $561.0M | $137.0M | ||
| Q2 24 | $700.0M | $20.0M |
| Q1 26 | — | — | ||
| Q4 25 | -9.9% | — | ||
| Q3 25 | 13.9% | 10.2% | ||
| Q2 25 | 14.2% | 2.5% | ||
| Q1 25 | 10.1% | -2.9% | ||
| Q4 24 | 13.2% | 1.2% | ||
| Q3 24 | 18.5% | 6.7% | ||
| Q2 24 | 24.6% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 50.9% | 5.3% | ||
| Q3 25 | 27.3% | 7.4% | ||
| Q2 25 | 28.8% | 9.4% | ||
| Q1 25 | 24.2% | 10.2% | ||
| Q4 24 | 22.5% | 8.6% | ||
| Q3 24 | 22.5% | 6.2% | ||
| Q2 24 | 20.3% | 9.1% |
| Q1 26 | — | 1.81× | ||
| Q4 25 | 2.15× | — | ||
| Q3 25 | 2.22× | 4.52× | ||
| Q2 25 | 2.66× | 2.33× | ||
| Q1 25 | 2.07× | 2.06× | ||
| Q4 24 | 2.51× | 2.52× | ||
| Q3 24 | 1.76× | 2.78× | ||
| Q2 24 | 3.19× | 1.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
XPO
Segment breakdown not available.
