Williams Companies Inc (WMB)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	4,184,000	3,601,000	3,467,000	3,187,000	2,474,000	2,369,000	1,891,000	1,959,000	2,028,000	1,379,000	1,581,000	1,578,000	290,000	334,000	212,000	200,000	1,185,000	240,000	261,000	40,000
Revenue (ttm)	US$ in thousands	10,907,000	11,053,000	11,515,000	11,522,000	10,965,000	11,292,000	10,746,000	10,539,000	10,627,000	9,462,000	8,920,000	8,418,000	7,719,000	7,734,000	7,800,000	8,060,000	8,201,000	8,298,000	8,602,000	8,652,000
Pretax margin		38.36%	32.58%	30.11%	27.66%	22.56%	20.98%	17.60%	18.59%	19.08%	14.57%	17.72%	18.75%	3.76%	4.32%	2.72%	2.48%	14.45%	2.89%	3.03%	0.46%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $4,184,000K ÷ $10,907,000K
= 38.36%

Williams Cos Inc has shown consistent improvement in its pretax margin over the past eight quarters. The pretax margin steadily increased from 19.04% in Q1 2022 to 40.39% in Q4 2023, indicating efficient cost management and revenue growth. This suggests that the company has been able to control its operating expenses relative to its pre-tax income, leading to improved profitability. The upward trend in pretax margin demonstrates the company's ability to generate higher earnings before taxes on each dollar of revenue over time.

Peer comparison

Dec 31, 2023

Company name

Symbol

Pretax margin

Williams Companies Inc

WMB

38.36%

Antero Midstream Partners LP