Positioning political buying, disclosed 2026-08-20
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price69.26 USD
Fair value53.40
Ethical score10.0/100
RatingAVOID
Our investment reviews on this name
2026-10-02Read Markdown69.26+0.0% to today
2026-09-03Read Markup71.68-3.4% to today
2026-07-30Read Distribution74.00-6.4% to today ✓
2026-07-18Read Markup71.96-3.8% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Williams Companies holds its Markdown at $69.26. The statistical read favours the buyers, held for 146 days.
As held on the ledger · 2026-09-25
Phase
Markdown · caution
Quantitative state
The statistical read favours the buyers, held for 146 days
Price at the screen
$69.26
Valuation
27.59 trailing · 26.86 forward price to earnings
Values screen
FAIL· score 10.0
Beta
0.62
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
50.18%
Below 33%
Interest-bearing debt is 50.2% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
7.78%
Below 33%
Cash held in interest-bearing accounts and securities is 7.8% of assets, under the one-third limit.
Pass
Receivables
3.67%
Below 49%
Money owed to the company is 3.7% of assets, under the 49% limit.
Pass
Revenue purity
0.33%
Below 5%
Only 0.3% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Williams Companies's business is in a permissible area, but its interest-bearing debt is about 50% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads AVOID: it trades above our $53.40 fair value estimate, moderate competitive moat, 7.80% revenue growth.
Fair value range in USD, drawn from the 2026-09-25 screen. The gold marker is the market price at the same screen. The price runs 22.9% above the base estimate.
Third-party analyst targets: 23 covering, consensus Strong Buy. The average target sits +23% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-25 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Pipeline cash flows mask cyclical debt traps
Think of US energy infrastructure as the plumbing that moves gas when demand surges and sits idle when prices crash. Williams Companies sits right in the middle of that system, collecting fees across its transmission and gathering assets.
We pass because the shares trade at a 28.5 times forward multiple while sitting 28 percent above our fair value in a cyclical industry. Revenue growth of 9 percent and a 23 percent profit margin look solid on paper, yet the ethical screen flags the debt burden and the moderate moat offers little protection when volumes turn.
High ROE of 20 percent may reflect peak conditions rather than durable strength, and history shows these multiples compress quickly once energy cycles roll over. Analyst buy ratings and an 84 dollar median target ignore that simple reality.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
WMB trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markdown · changed$69.26-3.4%Entry 12
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (23 analysts) rates it buy, with a mean price target of $82.
2026-09-03Markup · changed$71.68-3.1%Entry 11
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 3.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (23 analysts) rates it buy, with a mean price target of $82.
2026-08-03Distribution$74.00+0.0%Entry 10
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (23 analysts) rates it buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-02Distribution$74.00+0.0%Entry 9
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (23 analysts) rates it buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-01Distribution$74.00+0.0%Entry 8
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (23 analysts) rates it buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-31Distribution$74.00+0.0%Entry 7
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (23 analysts) rates it buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (23 analysts) rates it buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-28Markup$74.00+0.0%Entry 5
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (23 analysts) rates it buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-27Markup$74.00+2.8%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 2.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (23 analysts) rates it buy, with a mean price target of $82. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-18Markup$71.96+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (23 analysts) rates it buy, with a mean price target of $82.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
