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Side-by-side financial comparison of Williams Companies (WMB) and Zoetis (ZTS). Click either name above to swap in a different company.
Williams Companies is the larger business by last-quarter revenue ($3.8B vs $2.4B, roughly 1.6× Zoetis). Zoetis runs the higher net margin — 25.3% vs 19.1%, a 6.2% gap on every dollar of revenue. On growth, Williams Companies posted the faster year-over-year revenue change (12.7% vs 3.0%). Zoetis produced more free cash flow last quarter ($732.0M vs $-379.0M). Over the past eight quarters, Williams Companies's revenue compounded faster (7.3% CAGR vs 4.4%).
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.
Zoetis Inc. (/zō-EH-tis/) is an American drug company, the world's largest producer of medicine and vaccinations for pets and livestock. The company was a subsidiary of Pfizer, the world's largest drug maker, but with Pfizer's spinoff of its 83% interest in the firm it is now a completely independent company. The company directly markets its products in approximately 45 countries, and sells them in more than 100 countries. Operations outside the United States accounted for 50% of the total re...
WMB vs ZTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.8B | $2.4B |
| Net Profit | $734.0M | $603.0M |
| Gross Margin | — | 70.2% |
| Operating Margin | 27.3% | 31.9% |
| Net Margin | 19.1% | 25.3% |
| Revenue YoY | 12.7% | 3.0% |
| Net Profit YoY | 51.0% | 3.8% |
| EPS (diluted) | $0.60 | $1.37 |
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.
| Q4 25 | $3.8B | $2.4B | ||
| Q3 25 | $3.5B | $2.4B | ||
| Q2 25 | $3.4B | $2.5B | ||
| Q1 25 | $4.2B | $2.2B | ||
| Q4 24 | $3.4B | $2.3B | ||
| Q3 24 | $3.0B | $2.4B | ||
| Q2 24 | $2.8B | $2.4B | ||
| Q1 24 | $3.3B | $2.2B |
| Q4 25 | $734.0M | $603.0M | ||
| Q3 25 | $647.0M | $721.0M | ||
| Q2 25 | $546.0M | $718.0M | ||
| Q1 25 | $691.0M | $631.0M | ||
| Q4 24 | $486.0M | $581.0M | ||
| Q3 24 | $706.0M | $682.0M | ||
| Q2 24 | $401.0M | $624.0M | ||
| Q1 24 | $632.0M | $599.0M |
| Q4 25 | — | 70.2% | ||
| Q3 25 | — | 71.5% | ||
| Q2 25 | — | 73.6% | ||
| Q1 25 | — | 72.0% | ||
| Q4 24 | — | 69.5% | ||
| Q3 24 | — | 70.6% | ||
| Q2 24 | — | 71.7% | ||
| Q1 24 | — | 70.6% |
| Q4 25 | 27.3% | 31.9% | ||
| Q3 25 | 31.8% | 37.0% | ||
| Q2 25 | 28.0% | 36.7% | ||
| Q1 25 | 26.1% | 36.5% | ||
| Q4 24 | 23.2% | 31.6% | ||
| Q3 24 | 27.6% | 36.6% | ||
| Q2 24 | 24.4% | 33.0% | ||
| Q1 24 | 30.3% | 34.1% |
| Q4 25 | 19.1% | 25.3% | ||
| Q3 25 | 18.5% | 30.0% | ||
| Q2 25 | 16.2% | 29.2% | ||
| Q1 25 | 16.5% | 28.4% | ||
| Q4 24 | 14.2% | 25.1% | ||
| Q3 24 | 23.3% | 28.6% | ||
| Q2 24 | 14.1% | 26.4% | ||
| Q1 24 | 18.9% | 27.4% |
| Q4 25 | $0.60 | $1.37 | ||
| Q3 25 | $0.53 | $1.63 | ||
| Q2 25 | $0.45 | $1.61 | ||
| Q1 25 | $0.56 | $1.41 | ||
| Q4 24 | $0.39 | $1.29 | ||
| Q3 24 | $0.58 | $1.50 | ||
| Q2 24 | $0.33 | $1.37 | ||
| Q1 24 | $0.52 | $1.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $27.3B | — |
| Stockholders' EquityBook value | $12.8B | $3.3B |
| Total Assets | $58.6B | $15.5B |
| Debt / EquityLower = less leverage | 2.13× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $2.0B |
| 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 24 | $24.1B | — |
| Q4 25 | $12.8B | $3.3B | ||
| Q3 25 | $12.5B | $5.4B | ||
| Q2 25 | $12.4B | $5.0B | ||
| Q1 25 | $12.5B | $4.7B | ||
| Q4 24 | $12.4B | $4.8B | ||
| Q3 24 | $12.4B | $5.2B | ||
| Q2 24 | $12.3B | $5.0B | ||
| Q1 24 | $12.4B | $5.1B |
| Q4 25 | $58.6B | $15.5B | ||
| Q3 25 | $55.7B | $15.2B | ||
| Q2 25 | $56.1B | $14.5B | ||
| Q1 25 | $54.9B | $14.1B | ||
| Q4 24 | $54.5B | $14.2B | ||
| Q3 24 | $53.8B | $14.4B | ||
| Q2 24 | $52.4B | $14.2B | ||
| Q1 24 | $52.7B | $14.3B |
| 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× | — | ||
| Q1 24 | 1.94× | — |
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 | $893.0M |
| Free Cash FlowOCF − Capex | $-379.0M | $732.0M |
| FCF MarginFCF / Revenue | -9.9% | 30.7% |
| Capex IntensityCapex / Revenue | 50.9% | 6.7% |
| Cash ConversionOCF / Net Profit | 2.15× | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $893.0M | ||
| Q3 25 | $1.4B | $938.0M | ||
| Q2 25 | $1.4B | $486.0M | ||
| Q1 25 | $1.4B | $587.0M | ||
| Q4 24 | $1.2B | $905.0M | ||
| Q3 24 | $1.2B | $951.0M | ||
| Q2 24 | $1.3B | $502.0M | ||
| Q1 24 | $1.2B | $595.0M |
| Q4 25 | $-379.0M | $732.0M | ||
| Q3 25 | $485.0M | $805.0M | ||
| Q2 25 | $478.0M | $308.0M | ||
| Q1 25 | $421.0M | $438.0M | ||
| Q4 24 | $450.0M | $689.0M | ||
| Q3 24 | $561.0M | $784.0M | ||
| Q2 24 | $700.0M | $370.0M | ||
| Q1 24 | $690.0M | $455.0M |
| Q4 25 | -9.9% | 30.7% | ||
| Q3 25 | 13.9% | 33.5% | ||
| Q2 25 | 14.2% | 12.5% | ||
| Q1 25 | 10.1% | 19.7% | ||
| Q4 24 | 13.2% | 29.7% | ||
| Q3 24 | 18.5% | 32.8% | ||
| Q2 24 | 24.6% | 15.7% | ||
| Q1 24 | 20.7% | 20.8% |
| Q4 25 | 50.9% | 6.7% | ||
| Q3 25 | 27.3% | 5.5% | ||
| Q2 25 | 28.8% | 7.2% | ||
| Q1 25 | 24.2% | 6.7% | ||
| Q4 24 | 22.5% | 9.3% | ||
| Q3 24 | 22.5% | 7.0% | ||
| Q2 24 | 20.3% | 5.6% | ||
| Q1 24 | 16.3% | 6.4% |
| Q4 25 | 2.15× | 1.48× | ||
| Q3 25 | 2.22× | 1.30× | ||
| Q2 25 | 2.66× | 0.68× | ||
| Q1 25 | 2.07× | 0.93× | ||
| Q4 24 | 2.51× | 1.56× | ||
| Q3 24 | 1.76× | 1.39× | ||
| Q2 24 | 3.19× | 0.80× | ||
| Q1 24 | 1.95× | 0.99× |
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% |
ZTS
| Other | $1.3B | 56% |
| Livestock | $234.0M | 10% |
| Pain Sedation | $209.0M | 9% |
| Other Pharmaceuticals | $188.0M | 8% |
| Swine | $125.0M | 5% |
| Poultry | $117.0M | 5% |
| Fish | $81.0M | 3% |
| Other Non Pharmaceuticals | $70.0M | 3% |
| Manufactured Product Other | $18.0M | 1% |
| Medicated Feed Additives | $12.0M | 1% |
