Energy Transfer LP vs WILLIAMS COMPANIES, INC., two Utilities stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Price to book tells the story at a glance: Williams at 6.30, Energy Transfer at 1.33. Williams is a corporation running natural-gas pipelines with a strong 18.41 percent return on equity, valued at 34.2 times earnings. Energy Transfer is a master limited partnership distributing cash on a K-1, earning 8.77 percent on equity and booking a thin 4.73 percent net margin on high volumes. The cash order inverts the valuation: Energy Transfer yielded 5.48 percent free cash while Williams managed 0.31. Energy Transfer carries less leverage, 1.39 debt to equity against Williams' 1.98. Williams is larger at 95.6 billion versus 65.9, and pays through a dividend rather than a partnership distribution.
Comparison updated 2026-07-11.
| Metric | ET | WMB |
|---|---|---|
| Price | $19.66 | $75.00 |
| Market cap | $67.7B | $92.0B |
| Sector | Utilities | Utilities |
| Stage | Mature | Growth |
| Implied growth (priced in) | — | +12.4% |
| P/E | — | 32.9 |
| P/B | 1.36 | 6.06 |
| P/S | 0.73 | 5.96 |
| EV/EBITDA | 8.9 | 18.0 |
| Revenue growth | +12.6% | +14.8% |
| Operating margin | 10.7% | 28.0% |
| Net margin | 4.7% | 18.1% |
| Return on equity | 8.8% | 18.4% |
| Return on assets | 3.0% | 4.7% |
| Return on invested capital | 6.3% | 7.7% |
| FCF yield | 5.3% | 0.3% |
| Dividend yield | — | 2.7% |
| Debt / equity | 1.39 | 1.98 |
| Current ratio | 1.17 | 0.83 |
| Altman Z (solvency) | 6.72 | 6.04 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.