Williams Companies Inc (WMB)

Debt-to-capital ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	25,830,000	25,713,000	22,554,000	27,768,000	27,043,000
Total stockholders’ equity	US$ in thousands	12,436,000	12,402,000	11,485,000	11,423,000	11,769,000
Debt-to-capital ratio		0.68	0.67	0.66	0.71	0.70

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $25,830,000K ÷ ($25,830,000K + $12,436,000K)
= 0.68

The debt-to-capital ratio of Williams Companies Inc has exhibited relative stability over the past five years. Starting at 0.70 in December 31, 2020, the ratio slightly increased to 0.71 by December 31, 2021, before decreasing to 0.66 by December 31, 2022. Subsequently, the ratio saw a slight uptick to 0.67 by December 31, 2023, and further increased to 0.68 by December 31, 2024.

Overall, the trend suggests that Williams Companies Inc has maintained a relatively high proportion of debt in its capital structure, ranging between 0.66 and 0.71 over the period. This indicates that a significant portion of the company's capital is financed through debt rather than equity. The slight fluctuations in the ratio may be reflective of changes in the company's borrowing activities and capital management strategies during the period under review.