ET vs. WMB

Last updated Apr 1, 2026

Compare and contrast key facts about Energy Transfer LP (ET) and The Williams Companies, Inc. (WMB).

Performance

ET vs. WMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Energy Transfer LP (ET) and The Williams Companies, Inc. (WMB). The values are adjusted to include any dividend payments, if applicable.

ET vs. WMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ET Energy Transfer LP	19.24%	-9.37%	53.87%	27.87%	55.74%	42.96%	-44.92%	5.88%	-17.74%	-4.66%
WMB The Williams Companies, Inc.	21.95%	14.91%	62.35%	11.86%	32.83%	38.36%	-8.20%	14.18%	-23.88%	2.02%

Fundamentals

Market Cap ET : $70.45B WMB : $88.94B
EPS ET : $1.37 WMB : $2.14
PE Ratio ET : 14.10 WMB : 33.97
PS Ratio ET : 0.84 WMB : 7.45
PB Ratio ET : 1.44 WMB : 6.96
Total Revenue (TTM) ET : $82.63B WMB : $11.94B
Gross Profit (TTM) ET : $18.01B WMB : $6.83B
EBITDA (TTM) ET : $14.93B WMB : $7.41B

Returns By Period

In the year-to-date period, ET achieves a 19.24% return, which is significantly lower than WMB's 21.95% return. Over the past 10 years, ET has underperformed WMB with an annualized return of 20.51%, while WMB has yielded a comparatively higher 23.08% annualized return.

ET

• 1D: -1.48%
• 1M: 2.44%
• YTD: 19.24%
• 6M: 16.88%
• 1Y: 12.07%
• 3Y*: 25.52%
• 5Y*: 29.51%
• 10Y*: 20.51%

WMB

• 1D: 0.43%
• 1M: -1.90%
• YTD: 21.95%
• 6M: 16.67%
• 1Y: 25.78%
• 3Y*: 40.30%
• 5Y*: 31.00%
• 10Y*: 23.08%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

ET vs. WMB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ET

ET Risk / Return Rank: 57
ET Sharpe Ratio Rank: 61
ET Sortino Ratio Rank: 52
ET Omega Ratio Rank: 54
ET Calmar Ratio Rank: 58
ET Martin Ratio Rank: 61

WMB

WMB Risk / Return Rank: 74
WMB Sharpe Ratio Rank: 76
WMB Sortino Ratio Rank: 68
WMB Omega Ratio Rank: 68
WMB Calmar Ratio Rank: 80
WMB Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ET vs. WMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Energy Transfer LP (ET) and The Williams Companies, Inc. (WMB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ET	WMB	Difference
Sharpe ratio Return per unit of total volatility	0.51	1.05	-0.54
Sortino ratio Return per unit of downside risk	0.86	1.44	-0.59
Omega ratio Gain probability vs. loss probability	1.12	1.20	-0.08
Calmar ratio Return relative to maximum drawdown	0.65	2.18	-1.53
Martin ratio Return relative to average drawdown	1.82	4.69	-2.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ET vs. WMB - Sharpe Ratio Comparison

The current ET Sharpe Ratio is 0.51, which is lower than the WMB Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of ET and WMB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ET	WMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.51	1.05	-0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.17	1.33	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.73	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.23	+0.12

Correlation

The correlation between ET and WMB is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ET vs. WMB - Dividend Comparison

ET's dividend yield for the trailing twelve months is around 6.87%, more than WMB's 2.78% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ET Energy Transfer LP	6.87%	7.97%	6.51%	8.95%	7.33%	7.41%	17.27%	9.51%	9.24%	6.66%	5.90%	7.42%
WMB The Williams Companies, Inc.	2.78%	3.33%	3.51%	5.14%	5.17%	6.30%	7.98%	6.41%	6.17%	3.94%	5.39%	9.53%

Drawdowns

ET vs. WMB - Drawdown Comparison

The maximum ET drawdown since its inception was -87.81%, smaller than the maximum WMB drawdown of -98.03%. Use the drawdown chart below to compare losses from any high point for ET and WMB.

Drawdown Indicators

	ET	WMB	Difference
Max Drawdown Largest peak-to-trough decline	-87.81%	-98.03%	+10.22%
Max Drawdown (1Y) Largest decline over 1 year	-17.33%	-12.36%	-4.97%
Max Drawdown (5Y) Largest decline over 5 years	-25.82%	-23.01%	-2.81%
Max Drawdown (10Y) Largest decline over 10 years	-72.82%	-68.08%	-4.74%
Current Drawdown Current decline from peak	-1.88%	-3.88%	+2.00%
Average Drawdown Average peak-to-trough decline	-25.95%	-27.17%	+1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.24%	5.75%	+0.49%

Volatility

ET vs. WMB - Volatility Comparison

Energy Transfer LP (ET) and The Williams Companies, Inc. (WMB) have volatilities of 4.96% and 5.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ET	WMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	5.10%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	11.68%	16.36%	-4.68%
Volatility (1Y) Calculated over the trailing 1-year period	23.80%	24.70%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.48%	23.40%	+2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.63%	31.62%	+5.01%

Financials

ET vs. WMB - Profitability Comparison

The chart below illustrates the profitability comparison between Energy Transfer LP and The Williams Companies, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ET - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Energy Transfer LP reported a gross profit of 5.78B and revenue of 22.41B. Therefore, the gross margin over that period was 25.8%.

WMB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, The Williams Companies, Inc. reported a gross profit of 1.50B and revenue of 3.20B. Therefore, the gross margin over that period was 46.8%.

ET - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Energy Transfer LP reported an operating income of 2.37B and revenue of 22.41B, resulting in an operating margin of 10.6%.

WMB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, The Williams Companies, Inc. reported an operating income of 1.31B and revenue of 3.20B, resulting in an operating margin of 40.9%.

ET - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Energy Transfer LP reported a net income of 1.46B and revenue of 22.41B, resulting in a net margin of 6.5%.

WMB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, The Williams Companies, Inc. reported a net income of 734.00M and revenue of 3.20B, resulting in a net margin of 23.0%.