Added to YB: 2026-04-15
Pitch date: 2026-04-11
WMB [neutral]
The Williams Companies, Inc.
+2.42%
current return
Author Info
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Company Info
The Williams Companies, Inc., together with its subsidiaries, operates as an energy infrastructure company primarily in the United States.
Market Cap
$90.5B
Pitch Price
$72.44
Price Target
N/A
Dividend
2.84%
EV/EBITDA
15.94
P/E
32.45
EV/Sales
10.08
Sector
Oil, Gas and Consumable Fuels
Category
growth
Williams Companies – An Energy Infrastructure Monopoly (Deep Dive)
WMB (deep dive): Natural gas infrastructure monopoly w/ 33k mi pipeline moving 1/3 US nat gas. Transco (16% US consumption, 30% LNG exports) unreplicatable—$85-100B replacement cost vs full market cap. 95% fee-based take-or-pay contracts, 10-20yr duration. 13yr EBITDA growth streak, targeting 10%+ CAGR through 2030 (8% locked in backlog). LNG tailwind: US exports 15→30 Bcf/d by 2029, Williams 30% share; AI data center power demand adding 4-6 Bcf/d by 2030. $7.3B power projects at 5x EBITDA multiples, $18B 5yr capex runway. 16% CROIC→20% by 2030. Trades 14.5x EV/EBITDA (28% historical premium), author sees fair value $68 (6% overpriced at $72). Rating: Hold, accumulate <$68. 10.5% CAGR to 2029 target $115B mkt cap
Read full article (33 min)