Oneok vs Williams Companies
Oneok reported revenue of $33.6 billion in fiscal 2025, 2.8 times Williams Companies' $11.9 billion in fiscal 2025. Oneok's revenue grew 55.0% in its latest year, and Williams Companies' grew 13.8%. Oneok had an operating margin of 17.1%, against 35.1% at Williams Companies. Free cash flow was $2.4 billion at Oneok and $1.0 billion at Williams Companies.
Side by side
| Oneok | Williams Companies | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $33.6B | $11.9B |
| Revenue growth | 55.0% | 13.8% |
| Revenue growth a year, last 5 years | 31.5% | 9.1% |
| Gross margin | 30.5% | — |
| Operating margin | 17.1% | 35.1% |
| Net margin | 10.1% | 21.9% |
| Free cash flow | $2.4B | $1.0B |
| Free cash flow margin | 7.3% | 8.4% |
| Return on capital | 8.1% | 7.5% |
| Net debt to EBITDA | 4.5x | 4.5x |
| Dividends and buybacks | $2.7B | $2.4B |
| Change in diluted share count | 6.7% | 0.2% |
| Last close | $96.36 | $71.75 |
| P/E at the last close | 16.6× | 28.6× |
| Insider trades, last 12 months | bought $165,000, sold $0 | sold $11.1 million |
| Piotroski F-score | 5 of 9 | 6 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
OneokWilliams Companies
Operating margin
Percent of revenue
OneokWilliams Companies
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
OneokWilliams Companies
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Oneok and Williams Companies pages.