Cactus Inc. Class A Common Stock (WHD) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$0.67	$0.7	+4.5%	—	$388.3M	—
Q4 25	$0.58	$0.65	+12.1%	—	$261.2M	—
Q3 25	$0.58	$0.67	+15.5%	—	$264M	—
Q2 25	$0.72	$0.66	-8.3%	—	$273.6M	—
Q1 25	$0.69	$0.73	+5.8%	—	$280.3M	—
Q4 24	$0.72	$0.71	-1.4%	—	$272.1M	—
Q3 24	$0.76	$0.79	+3.9%	—	$293.2M	—
Q2 24	$0.72	$0.81	+12.5%	—	$290.4M	—
Q1 24	$0.72	$0.75	+4.2%	—	$274.1M	—
Q4 23	$0.68	$0.81	+19.1%	—	$274.9M	—
Q3 23	$0.86	$0.8	-7.0%	—	$287.9M	—
Q2 23	$0.75	$0.84	+12.0%	—	$305.8M	—
Q1 23	$0.56	$0.64	+14.3%	—	$228.4M	—
Q4 22	$0.5	$0.57	+14.0%	—	$187.8M	—
Q3 22	$0.48	$0.52	+8.3%	—	$184.5M	—
Q2 22	$0.36	$0.44	+22.2%	—	$170.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.42	—	—	$1.1B	—
FY24	—	$2.79	—	—	$1.1B	—
FY23	—	$2.62	—	—	$1.1B	—
FY22	—	$1.83	—	—	$688.4M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$155M	$341.2M	$544.1M	$628.4M	$348.6M	$438.6M	$688.4M	$1.1B	$1.1B	$1.1B
YoY change	-30%	+120.1%	+59.5%	+15.5%	-44.5%	+25.8%	+57%	+59.4%	+3%	-4.49%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	155M	341.2M	544.1M	628.4M	348.6M	438.6M	688.4M	1.1B	1.1B	1.1B
Cost of revenue	125.2M	225.2M	325.9M	393.6M	236.9M	317.1M	445.9M	690.7M	693.4M	679.6M
Gross profit	29.8M	116M	218.2M	234.8M	111.6M	121.4M	242.4M	406.3M	436.4M	399.4M
Gross margin	19.2%	34%	40.1%	37.4%	32%	27.7%	35.2%	37%	38.6%	37%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	19.2M	27.2M	40.5M	51.7M	39.7M	46M	67.7M	127.1M	130.5M	148.9M
Operating expenses	19.2M	27.2M	40.5M	51.7M	39.7M	46M	67.7M	127.1M	130.5M	148.9M
Operating income	10.6M	88.9M	177.7M	183.2M	71.9M	75.4M	174.7M	279.2M	305.9M	250.5M
Operating margin	6.85%	26%	32.7%	29.1%	20.6%	17.2%	25.4%	25.5%	27.1%	23.2%
Non-operating income, net	2.3M	—	-4.3M	4.3M	-2.4M	492K	-1.9M	-10.4M	-13.1M	-794K
Pretax income	-7.4M	68.1M	169.8M	188.3M	70.2M	75.1M	176.6M	262.4M	299.3M	260.7M
Income tax	809K	1.5M	19.5M	32M	11M	7.7M	31.4M	47.5M	66.5M	59M
Net income	-8.2M	66.5M	150.3M	156.3M	59.2M	67.5M	145.1M	214.8M	232.8M	201.6M
Net margin	-5.27%	19.5%	27.6%	24.9%	17%	15.4%	21.1%	19.6%	20.6%	18.7%
EBITDA	34.1M	112.1M	203.6M	228.4M	113.5M	112.3M	211.6M	347.2M	378.3M	327.2M
EPS	0	3.11	1.6	1.9	0.73	0.9	1.83	2.62	2.79	2.42
Diluted EPS	0	3.11	1.58	1.88	0.72	0.83	1.8	2.57	2.77	2.41

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	287.9M	274.9M	274.1M	290.4M	293.2M	272.1M	280.3M	273.6M	264M	261.2M	388.3M	449.5M
Cost of revenue	175.8M	165M	168.8M	176.5M	178.9M	169.2M	172.6M	173.6M	166.8M	166.6M	276.8M	299.8M
Gross profit	112.1M	109.9M	105.3M	113.9M	114.3M	102.9M	107.7M	100M	97.1M	94.6M	111.6M	149.7M
Gross margin	38.9%	40%	38.4%	39.2%	39%	37.8%	38.4%	36.6%	36.8%	36.2%	28.7%	33.3%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	29.5M	29.6M	29.4M	31.2M	37.4M	32.4M	39.1M	39.2M	35.9M	34.7M	62.1M	66.1M
Operating expenses	29.5M	29.6M	29.4M	31.2M	37.4M	32.4M	39.1M	39.2M	35.9M	34.7M	62.1M	66.1M
Operating income	82.5M	80.3M	75.9M	82.7M	76.9M	70.5M	68.6M	60.8M	61.2M	59.9M	49.5M	83.6M
Operating margin	28.7%	29.2%	27.7%	28.5%	26.2%	25.9%	24.5%	22.2%	23.2%	22.9%	12.7%	18.6%
Non-operating income, net	5.4M	-1.1M	-13.3M	-2.9M	-138K	3.2M	—	—	221K	-1M	—	—
Pretax income	86.5M	79.1M	63.2M	81.2M	78.9M	76M	70.9M	63.3M	64.4M	62M	49.7M	84.5M
Income tax	18.5M	17M	13.4M	18.2M	16.4M	18.5M	16.8M	14.3M	14.2M	13.7M	9.5M	23.2M
Net income	68M	62.1M	49.8M	63.1M	62.4M	57.4M	54.1M	49M	50.2M	48.3M	40.2M	61.4M
Net margin	23.6%	22.6%	18.2%	21.7%	21.3%	21.1%	19.3%	17.9%	19%	18.5%	10.4%	13.7%
EBITDA	92.6M	85.1M	104.2M	100.6M	92.1M	81.4M	84.3M	76.7M	77.4M	88.8M	86.3M	120.2M
EPS	0.81	—	0.6	0.75	0.75	0.69	0.65	0.59	0.61	0.58	-0.7	0.7
Diluted EPS	0.8	—	0.59	0.75	0.74	0.68	0.64	0.59	0.6	0.57	-0.7	0.7

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	1.2B	—	3B	2.9B	3.9B	3.1B	4.5B
Enterprise value	—	—	—	—	976.7M	—	2.7B	2.8B	3.6B	3B	4.6B
Shares outstanding	74.9M	21.4M	32.3M	45M	47.5M	55.4M	60.3M	64.6M	66.4M	68.6M	68.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	20.9	—	20.9	13.7	16.6	15.5	54
P/S	—	—	—	—	3.55	—	4.4	2.68	3.43	2.9	3.29
P/B	—	—	—	—	2.25	—	4.27	2.76	3.06	2.19	3.61
EV/EBITDA	—	—	—	—	8.6	—	12.9	8.18	9.45	9.31	12.1
EV/Sales	—	—	—	—	2.8	—	3.96	2.59	3.16	2.82	3.4
Earnings yield	—	—	—	—	4.79%	—	4.79%	7.32%	6.01%	6.44%	1.85%
FCF yield	—	—	—	—	9.61%	—	2.96%	10.1%	7.15%	7.01%	2.89%
PEG	—	—	—	—	—	—	—	—	—	—	2.9

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	19.2%	34%	40.1%	37.4%	32%	27.7%	35.2%	37%	38.6%	37%	33.3%
Operating margin	6.85%	26%	32.7%	29.1%	20.6%	17.2%	25.4%	25.5%	27.1%	23.2%	18.6%
Net margin	-5.27%	19.5%	27.6%	24.9%	17%	15.4%	21.1%	19.6%	20.6%	18.7%	12%
ROE	7.91%	-183.7%	41.5%	30.3%	10.8%	11.3%	20.4%	20.2%	18.4%	14.1%	13.1%
ROA	-4.95%	25%	25.7%	18.7%	7.26%	6.87%	13%	14.1%	13.4%	10.8%	7.41%
ROIC	7.8%	40.8%	51.1%	43.3%	20.9%	20.7%	35.8%	23.5%	24.7%	14.4%	14%
Return on tangible assets	-5.46%	26.5%	26.4%	19.1%	7.4%	6.98%	13.2%	28.4%	23.2%	17.2%	15.3%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.42	3.1	3.68	4.55	8.69	5.6	5.61	3.17	4.33	5.81	2.59
Quick ratio	1.85	1.88	2.34	3.31	6.9	4.31	4.23	2	3.06	4.13	1.81
Debt / equity	-2.4	-7.09	0.04	0.07	0.05	0.06	0.05	0.04	0.03	0.03	0.03
Debt / assets	1.5	0.96	0.03	0.05	0.03	0.03	0.03	0.03	0.02	0.02	0.02
Net debt / EBITDA	7.02	2.22	-0.27	-0.72	-2.29	-2.39	-1.46	-0.27	-0.8	-0.26	-0.83
Interest coverage	0.64	4.29	47.2	159	74.4	91.2	198	54.2	132.6	99.3	99.3
Effective tax rate	0%	2.27%	11.5%	17%	15.6%	10.2%	17.8%	18.1%	22.2%	22.6%	23.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	2.07	15.9	16.8	14	7.34	7.92	11.4	17	17	15.7	19.7
EPS (basic)	0	3.11	1.6	1.9	0.73	0.9	1.83	2.62	2.79	2.42	2.42
EPS (diluted)	0	3.11	1.58	1.88	0.72	0.83	1.8	2.57	2.77	2.41	1.19
Book value per share	-1.38	-1.69	11.2	11.5	11.6	10.7	11.8	16.5	19	20.9	17.8
FCF per share	0.03	0.12	3	3.33	2.51	0.9	1.49	4.58	4.17	3.2	4.61
Cash per share	0.12	0.35	2.19	4.5	6.08	5.45	5.71	2.07	5.16	1.8	5.25
Capex per share	0.23	—	—	—	—	—	—	—	—	0.57	0.61

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	11.2%	—	—	—	—	—	—	—	—	3.6%	3.15%
Capex / operating cash flow	74.7%	—	—	—	—	—	—	—	—	15%	11.7%
Payout ratio	-25.1%	0%	0%	2.72%	28.9%	31.4%	18.4%	14%	14.5%	18.6%	47.1%
Dividend yield	—	—	—	—	1.39%	—	0.88%	1.03%	0.87%	1.2%	0.95%

Yield

0.95%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.15

ex-dividend Aug 31, 2026

Payout ratio

47%

of earnings

Dividend growth

6 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 31, 2026	$0.15
Jun 1, 2026	$0.14
Mar 2, 2026	$0.14
Dec 1, 2025	$0.14
Aug 29, 2025	$0.14
Jun 2, 2025	$0.13
Mar 3, 2025	$0.13
Dec 2, 2024	$0.13

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$287.9M	$274.9M	$274.1M	$290.4M	$293.2M	$272.1M	$280.3M	$273.6M	$264M	$261.2M	$388.3M	$449.5M
YoY change	+56%	+46.4%	+20%	-5.05%	+1.84%	-1%	+2.26%	-5.79%	-9.97%	-4.01%	+38.5%	+64.3%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	8.7M	7.6M	70.8M	202.6M	288.7M	301.7M	344.5M	133.8M	342.8M	123.6M
Receivables	32.3M	84.2M	92.3M	87.9M	44.1M	89.2M	138.3M	205.4M	191.6M	164.5M
Inventory	37.9M	64.5M	99.8M	113.4M	87.5M	119.8M	161.3M	205.6M	226.8M	276.6M
Total current assets	82.6M	163.9M	274.5M	414.9M	425.1M	518.5M	654.6M	556.2M	774.7M	954.9M
Property, plant & equipment	63.7M	98.6M	121.3M	166.7M	142.9M	129.1M	127.7M	237M	236.9M	226.1M
Goodwill & intangibles	15.6M	15.6M	15.6M	15.6M	15.6M	15.6M	15.6M	766M	734M	702.1M
Total assets	165.3M	266.5M	584.7M	835M	815.6M	982.1M	1.1B	1.5B	1.7B	1.9B
Accounts payable	14M	35.1M	42M	41M	20.2M	42.8M	47.8M	71.8M	72M	71.5M
Short-term debt	3.7M	7.2M	7.4M	13.5M	8.1M	9.7M	10.7M	11.5M	11.1M	12.3M
Total current liabilities	24.1M	52.9M	74.6M	91.1M	48.9M	92.6M	116.6M	175.7M	178.8M	164.2M
Long-term debt	244.3M	249.4M	8.7M	24.2M	20.1M	23.5M	24.8M	28.5M	30.6M	25.5M
Total liabilities	268.6M	302.7M	222.4M	318.6M	264.8M	387M	408.5M	457.8M	475.1M	438.6M
Shareholders' equity	-103.3M	-36.2M	362.3M	516.4M	550.8M	595M	710.4M	1.1B	1.3B	1.4B
Total debt	248M	256.6M	16.1M	37.7M	28.1M	33.2M	35.5M	40M	41.7M	37.7M
Net debt	239.3M	249M	-54.7M	-164.9M	-260.5M	-268.5M	-309M	-93.8M	-301.1M	-85.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	63.7M	133.8M	194.3M	246.5M	303.4M	342.8M	347.7M	405.2M	445.6M	123.6M	291.6M	365.8M
Receivables	206.3M	205.4M	207.6M	205M	196.9M	191.6M	219.7M	207.3M	201.4M	164.5M	460M	510.2M
Inventory	203.5M	205.6M	204M	206.7M	219.8M	226.8M	230.3M	246.4M	271.3M	276.6M	404.2M	387M
Total current assets	492.9M	556.2M	617M	669M	730.2M	774.7M	809M	873.4M	928.7M	954.9M	1.2B	1.3B
Property, plant & equipment	233.2M	237M	237.3M	234.1M	235M	236.9M	236.7M	235.8M	231.6M	226.1M	268M	263.1M
Goodwill & intangibles	769.4M	766M	758M	750M	742M	734M	726M	718.1M	710.1M	702.1M	1.2B	1.3B
Total assets	1.5B	1.5B	1.6B	1.6B	1.7B	1.7B	1.8B	1.8B	1.9B	1.9B	2.5B	2.6B
Accounts payable	65.2M	71.8M	66.1M	63.8M	74.9M	72M	64.4M	83.1M	67.2M	71.5M	315.8M	320.1M
Short-term debt	11.7M	11.5M	11.3M	11.3M	11.6M	11.1M	12.3M	12.4M	12.4M	12.3M	15.6M	17.5M
Total current liabilities	177.4M	175.7M	190.7M	178.6M	191.3M	178.8M	167M	180M	175.9M	164.2M	451.1M	496M
Long-term debt	25M	28.5M	29.8M	28.3M	30M	30.6M	30.8M	29.6M	27.2M	25.5M	39.6M	38.8M
Total liabilities	454.1M	457.8M	475.3M	471.6M	469.4M	475.1M	463.7M	476M	471.4M	438.6M	811.8M	881.5M
Shareholders' equity	1B	1.1B	1.1B	1.2B	1.2B	1.3B	1.3B	1.3B	1.4B	1.4B	1.6B	1.7B
Total debt	36.7M	40M	41.1M	39.6M	41.6M	41.7M	43.2M	42M	39.6M	37.7M	55.2M	56.2M
Net debt	-27.1M	-93.8M	-153.2M	-206.9M	-261.8M	-301.1M	-304.5M	-363.2M	-406M	-85.8M	-236.4M	-309.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-8.2M	66.5M	150.3M	156.3M	59.2M	67.5M	145.1M	214.8M	232.8M	201.6M
Depreciation & amortization	21.2M	23.3M	30.2M	38.9M	40.5M	36.3M	34.1M	65M	60.4M	63.9M
Stock-based compensation	361K	0	4.7M	7M	8.6M	8.6M	10.6M	18.1M	22.9M	24.5M
Change in working capital	7.8M	-58.9M	-38.7M	-14M	43.6M	-59.3M	-88.4M	38.8M	-11.9M	-28.1M
Operating cash flow	23.2M	32.9M	161.9M	199.1M	145.4M	47.5M	117.1M	342.1M	286.2M	258.4M
Capital expenditure	-17.3M	—	—	—	—	—	—	—	—	-38.8M
Investing cash flow	-13M	1.4M	1.9M	3.8M	6.3M	2.3M	2.8M	-610.8M	3.8M	-39.1M
Dividends paid	-2.1M	0	0	-4.2M	-17.1M	-21.2M	-26.7M	-30.1M	-33.7M	-37.4M
Share repurchases	—	—	0	-1.5M	-1.4M	-3.3M	-4.6M	-5.2M	-9.3M	-5.9M
Financing cash flow	-12.2M	-5.3M	-35M	-21.7M	-40.2M	-39.4M	-47.4M	103.3M	-70.1M	-69.1M
Net change in cash	-2M	29M	128.8M	181.1M	111.5M	10.4M	72.5M	-165.4M	219.9M	150.3M
Free cash flow	2.3M	2.6M	97.1M	149.9M	118.9M	49.8M	89.6M	296.3M	276.9M	219.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	68M	62.1M	49.8M	63.1M	62.4M	57.4M	54.1M	49M	50.2M	48.3M	40.2M	61.4M
Depreciation & amortization	15.2M	14.9M	15M	15M	15.1M	15.3M	15.7M	15.9M	16.2M	16.2M	36.8M	36.6M
Stock-based compensation	4.4M	4.6M	4.4M	5.9M	5.6M	6.9M	6.1M	6.3M	6.1M	6M	7M	7.4M
Change in working capital	13.2M	3.3M	-10.9M	-2.4M	7.7M	-6.3M	-39.1M	14.3M	-36.7M	33.3M	35.7M	-19M
Operating cash flow	78.7M	92.9M	76.4M	73M	64.7M	72.1M	44.6M	91M	61.8M	72.3M	128.3M	104.6M
Capital expenditure	—	—	—	—	—	—	—	—	-10.2M	-6.5M	-9.7M	-16.5M
Investing cash flow	4M	1M	1.1M	2.2M	-326K	797K	-5.2M	882K	-8.2M	-4.3M	-310M	-15.6M
Dividends paid	-7.8M	-7.9M	-8.1M	-8M	-8.7M	-8.9M	-9.2M	-8.9M	-9.6M	-9.6M	-10.2M	-9.8M
Share repurchases	0	-650K	-8.3M	-221K	-832K	-10K	-5.5M	-212K	-204K	-13K	-7.9M	-128K
Financing cash flow	-74M	-13.4M	-20.1M	-17.1M	-19.2M	-13.7M	-21.8M	-14.8M	-13.3M	-19.2M	-21.5M	-14.7M
Net change in cash	8.7M	80.5M	57.3M	58.2M	45.2M	59.2M	17.6M	77.1M	40.3M	48.7M	-203.2M	74.2M
Free cash flow	70.4M	81.1M	78.4M	68.5M	75.6M	54.5M	31.3M	70.9M	51.6M	65.8M	118.5M	88M

Cactus Inc. Class A Common Stock Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement