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Cactus, Inc.

WHD

Cactus, Inc. • NYSE
$42.92 ▲ 1.39% (+0.59)
Market Cap $2.95 B
52w High $68.90
52w Low $33.20
Dividend Yield 0.56%
P/E 17.1
Volume 224.16K
Outstanding Shares 68.84M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $263.954M ▼ $31.889M ▼ $41.624M ▲ 15.769% ▲ $0.61 ▲ $80.62M ▲
Q2-2025 $273.575M ▼ $89.255M ▲ $40.329M ▼ 14.741% ▼ $0.59 ▼ $79.209M ▼
Q1-2025 $280.319M ▲ $35.126M ▲ $44.223M ▼ 15.776% ▼ $0.65 ▼ $86.615M ▼
Q4-2024 $272.121M ▼ $27.528M ▼ $46.687M ▼ 17.157% ▲ $0.69 ▼ $91.273M ▼
Q3-2024 $293.181M $37.51M $49.927M 17.029% $0.89 $92.007M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $445.614M ▲ $1.865B ▲ $471.364M ▼ $1.19B ▲
Q2-2025 $405.177M ▲ $1.825B ▲ $475.992M ▲ $1.148B ▲
Q1-2025 $347.661M ▲ $1.769B ▲ $463.697M ▼ $1.108B ▲
Q4-2024 $342.843M ▲ $1.739B ▲ $475.149M ▲ $1.071B ▲
Q3-2024 $303.376M $1.682B $469.443M $1.003B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $50.188M ▲ $61.768M ▼ $-8.218M ▲ $-13.287M ▲ $40.437M ▼ $51.585M ▼
Q2-2025 $49.047M ▼ $82.835M ▲ $-11.056M ▲ $-14.755M ▲ $57.516M ▲ $70.897M ▲
Q1-2025 $54.105M ▼ $41.545M ▼ $-15.451M ▼ $-21.791M ▼ $4.818M ▼ $31.315M ▼
Q4-2024 $57.447M ▼ $66.595M ▼ $-11.337M ▼ $-13.717M ▲ $39.467M ▼ $54.461M ▼
Q3-2024 $86.518M $85.3M $-9.997M $-19.232M $56.873M $75.629M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $200.00M ▲$210.00M ▲$210.00M ▲$210.00M ▲
Product and Service Other
Product and Service Other
 $40.00M ▲$40.00M ▲$40.00M ▲$40.00M ▲
Rental Revenue
Rental Revenue
 $30.00M ▲$30.00M ▲$20.00M ▼$20.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue and profits have grown steadily over the past several years, with especially strong gains as industry activity recovered. Profitability looks healthy: the company is keeping a solid share of each sales dollar as operating and net income, which suggests good pricing power and cost control. Earnings per share have climbed meaningfully, indicating both scale benefits and disciplined operations. The main risk is that results remain tied to drilling and completion cycles in oil and gas, so a downturn in activity could pressure both sales and margins.

Balance Sheet

Balance Sheet The balance sheet appears conservative and resilient. Assets and shareholder equity have grown consistently, showing that past profits are being reinvested back into the business rather than funded by heavy borrowing. Debt levels are very low relative to the size of the company, which reduces financial risk and gives flexibility in a downturn. Cash balances are solid, though they move around with acquisitions and investment, and overall the company looks well-positioned to fund growth and withstand industry volatility.

Cash Flow

Cash Flow The company is clearly cash-generative. Cash coming in from day‑to‑day operations has risen over time and generally tracks the growth in profits, which is a good sign that earnings are backed by real cash. After funding its investment needs, the business still produces healthy free cash flow, implying room to support acquisitions, shareholder returns, or further internal investment if management chooses. Capital spending has been measured rather than aggressive, suggesting a focus on returns and efficiency rather than sheer expansion for its own sake.

Competitive Edge

Competitive Edge Cactus occupies a specialized niche in wellhead and pressure control equipment, where safety and efficiency really matter to customers. Its flagship SafeDrill wellhead and the FlexSteel spoolable pipe line provide clear differentiation on installation speed, safety, and life‑cycle cost, which helps the company win and keep customers. Vertical integration and strong service capabilities deepen that edge, as operators value reliable field support. The acquisition of Baker Hughes’ surface pressure control assets adds international reach, reducing reliance on North American shale. Key competitive risks include exposure to large, well‑funded rivals and the inherently cyclical nature of oilfield spending.

Innovation and R&D

Innovation and R&D Innovation is a central part of the story. The company has already commercialized differentiated technologies like SafeDrill and FlexSteel, and it continues to refine equipment to reduce human intervention and improve wellsite safety and uptime. Its advanced manufacturing operations support rapid product tweaks and customization. Looking ahead, the planned new wellhead system and potential applications of its pressure and pipe technologies in areas like carbon management and hydrogen could open new avenues of growth. Execution risk is real: integrating acquisitions, scaling new products internationally, and competing with larger firms on R&D will all be ongoing challenges.

Summary

Taken together, Cactus looks like a focused, high‑quality oilfield equipment company with strong profitability, a clean and conservative balance sheet, and robust cash generation. Its specialized technology and service model give it a meaningful edge in its chosen niches, and recent acquisitions provide both product breadth and international exposure. At the same time, results remain closely tied to the health of the oil and gas industry, and management must execute well on integration and new product launches while navigating energy‑transition trends. The overall profile is of a financially sound business with a clear competitive identity, operating in a structurally cyclical environment.

NEWS

October 29, 2025 · 5:30 PM UTC

Cactus Announces Third Quarter 2025 Results

Read more

October 16, 2025 · 5:00 PM UTC

Cactus Announces Timing of Third Quarter 2025 Earnings Release and Conference Call

Read more