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Williams Companies10-K: Customer concentration

Top 10 customers represent 55% of gathering and processing revenue.

What happened

This high customer concentration in a core business segment creates significant revenue risk if a key customer is lost, highlighting a need for advanced customer relationship management, risk analytics, and service reliability solutions to ensure retention.

Source

SEC EDGARFeb 24, 2026

Annual report (Form 10-K)

Williams Companies 10-K for FY2025

Filing excerpt

During 2025, Williams’ facilities gathered and processed gas for approximately 253 customers. The top ten customers accounted for approximately 55 percent of gathering and processing fee revenues and NGL margins from noncash commodity-based agreements.

sec.gov/Archives/edgar/data/107263/000010726326000006/wmb-20251231.htmRead the full source

Other signals in this filing (11)

Extracted by Autobound

From the Signal API record
Signal
10-K: Customer concentration

What this signalsFilings often name leadership changes, deals and spending plans.

Period
FY2025
Fiscal year end
12/31
Filed
Feb 24, 2026

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The full record

From the Signal API record

Numbers

Percent
55% (of gathering and processing fee revenues from top 10 customers)

Details

CIK
107263
Accession number
0000107263-26-000006
Timeframe
Current year
Filing year
2026
Why it matters
Diversification strategy
Signal category
Market

Extraction

Confidence
High
Relevance
90%
Sentiment
Negative
Detected
Mar 3, 2026
signal_type
sec-10k
signal_subtype
customerConcentration

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The API returns more than this page shows

This page shows a preview. The full sec-10k record in the Signal API and MCP can also have these 8 fields. Some fields are empty for some signals.

Company

  • linkedin_urlValue in the API
  • industriesValue in the API
  • employee_count_lowValue in the API
  • employee_count_highValue in the API
  • revenueValue in the API
  • descriptionValue in the API

Signal

  • signal_nameValue in the API
  • associationValue in the API
Show the full JSONThe record on this page and the API request

GET /v1/signals/97f39a02-4b6b-47c5-a737-1dab9f140eea returns this record as JSON. POST /v1/companies/enrich returns every signal for williams.com.

{
  "signal_id": "97f39a02-4b6b-47c5-a737-1dab9f140eea",
  "signal_type": "sec-10k",
  "signal_subtype": "customerConcentration",
  "detected_at": "2026-03-03T05:52:01.704+00:00",
  "company": {
    "name": "Williams Companies",
    "domain": "williams.com"
  },
  "data": {
    "detail": "This high customer concentration in a core business segment creates significant revenue risk if a key customer is lost, highlighting a need for advanced customer relationship management, risk analytics, and service reliability solutions to ensure retention.",
    "metrics": {
      "pct": 0.55,
      "timeframe": "current_year",
      "pct_context": "of gathering and processing fee revenues from top 10 customers"
    },
    "summary": "Top 10 customers represent 55% of gathering and processing revenue.",
    "excerpts": "During 2025, Williams’ facilities gathered and processed gas for approximately 253 customers. The top ten customers accounted for approximately 55 percent of gathering and processing fee revenues and NGL margins from noncash commodity-based agreements.",
    "relevance": 0.9,
    "sentiment": "negative",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/107263/000010726326000006/wmb-20251231.htm",
    "filing_date": "2026-02-24",
    "filing_year": 2026,
    "fiscal_year_end": "12/31",
    "sales_relevance": "Diversification strategy",
    "signal_category": "market"
  }
}

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