Cactus (WHD) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WHD SEC filings page.
Cactus (WHD) reported $1.4B in revenue over the twelve months to Jun 30, 2026, up 21.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cactus’s dominant mechanic is a debt-free, cash-generative model whose recent slowdown is exposing less operating leverage.
The FY2025 operating margin compressed to23.2% from25.6% in FY2024, showing the slowdown reached profitability rather than staying at the top line. SG&A rose to$149M even as revenue fell4.5% , indicating the cost base did not reset as quickly as activity.
Operating cash flow exceeded net income in FY2025—
With no reported long-term debt and liabilities of
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Cactus's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Cactus has an operating margin of 23.2%, meaning the company retains $23 of operating profit per $100 of revenue. This strong profitability earns a score of 77/100, reflecting efficient cost management and pricing power. This is down from 25.6% the prior year.
Cactus's revenue declined 4.5% year-over-year, from $1.1B to $1.1B. This contraction results in a growth score of 43/100.
Cactus carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 5.81, Cactus holds $5.81 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 93/100.
Not available for Cactus, and counted as zero in the overall score.
Cactus earns a strong 13.5% return on equity (ROE), meaning it generates $14 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 89/100. This is down from 17.3% the prior year.
Cactus scores 8.69, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($4.9B) relative to total liabilities ($438.6M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Cactus passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Cactus generates $1.56 in operating cash flow ($258.4M OCF vs $166.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Cactus earns $360.43 in operating income for every $1 of interest expense ($250.5M vs $695K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Cactus generated $449.5M in revenue in Q2 2026. This represents an increase of 64.3% from the same quarter a year earlier. Against the prior quarter it is up 15.8%.
Cactus's EBITDA was $120.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 56.7% from the same quarter a year earlier. Against the prior quarter it is up 39.3%.
Cactus reported $49.0M in net income in Q2 2026. This represents an increase of 21.5% from the same quarter a year earlier. Against the prior quarter it is up 48.9%.
Not reported for Q2 2026.
Cash & Balance Sheet
Cactus held $365.8M in cash against $0 in long-term debt as of Q2 2026, with $496.0M of liabilities due within a year.
Cactus paid $0.14 per share in dividends in Q2 2026. This represents an increase of 7.7% from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Margins & Returns
Cactus's gross margin was 33.3% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 3.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.6 percentage points.
Cactus's operating margin was 18.6% in Q2 2026, reflecting core business profitability. This is down 3.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.8 percentage points.
Cactus's net profit margin was 10.9% in Q2 2026, showing the share of revenue converted to profit. This is down 3.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.4 percentage points.
Cactus's ROE was 4.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.2 percentage points.
Capital Allocation
Cactus spent $128K on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 39.6% from the same quarter a year earlier. Against the prior quarter it is down 98.4%.
Not reported for Q2 2026.
Not reported for Q2 2026.
WHD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $449.5M+64.3% | $388.3M+38.5% | $261.2M-4.0% | $264.0M-10.0% | $273.6M-5.8% | $280.3M+2.3% | $272.1M-1.0% | $293.2M+1.8% |
| Cost of Revenue | $299.8M+72.7% | $276.8M+60.4% | $166.6M-1.5% | $166.8M-6.7% | $173.6M-1.6% | $172.6M+2.2% | $169.2M | $178.9M |
| Gross Profit | $149.7M+49.7% | $111.6M+3.6% | $94.6M-8.1% | $97.1M-15.0% | $100.0M-12.2% | $107.7M+2.3% | $102.9M | $114.3M |
| SG&A Expenses | $66.1M+68.8% | $62.1M+58.7% | $34.7M+7.0% | $35.9M-4.0% | $39.2M+25.5% | $39.1M+33.0% | $32.4M+9.8% | $37.4M+26.5% |
| Operating Income | $83.6M+37.5% | $49.5M-27.8% | $59.9M-15.0% | $61.2M-20.3% | $60.8M-23.8% | $68.6M+9.7% | $70.5M-10.3% | $76.8M-12.3% |
| EBITDA | $120.2M+56.7% | $86.3M+2.3% | $76.0M-11.4% | $77.4M-15.7% | $76.7M-19.1% | $84.3M+8.6% | $85.8M-8.2% | $91.9M-10.6% |
| Income Tax | $23.2M+62.2% | $9.5M-43.5% | $13.7M-26.1% | $14.2M-13.2% | $14.3M-21.4% | $16.8M+25.4% | $18.5M+9.0% | $16.4M-11.2% |
| Net Income | $49.0M+21.5% | $32.9M-25.6% | $39.8M-14.7% | $41.6M-16.6% | $40.3M-19.1% | $44.2M+13.5% | $46.7M-4.6% | $49.9M-5.0% |
Not reported in any period shown, so not listed: R&D Expenses, Interest Expense, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
WHD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.6B+41.7% | $2.5B+38.9% | $1.9B+7.6% | $1.9B+10.9% | $1.8B+12.2% | $1.8B+12.3% | $1.7B+14.2% | $1.7B+14.9% |
| Current Assets | $1.3B+46.9% | $1.2B+45.3% | $954.9M+23.3% | $928.7M+27.2% | $873.4M+30.5% | $809.0M+31.1% | $774.7M+39.3% | $730.2M+48.1% |
| Cash & Equivalents | $365.8M-9.7% | $291.6M-16.1% | $123.6M-64.0% | $445.6M+46.9% | $405.2M+64.4% | $347.7M+79.0% | $342.8M+156.3% | $303.4M+376.0% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $299.0M+50.5% | $321.0M+74.3% | $228.9M+23.9% | $225.4M+22.3% | $198.7M+13.1% | $184.2M+7.2% | $184.8M+7.6% | $184.3M+9.1% |
| Accounts Receivable | $510.2M+146.1% | $460.0M+109.4% | $164.5M-14.2% | $201.4M+2.3% | $207.3M+1.1% | $219.7M+5.8% | $191.6M-6.7% | $196.9M-4.5% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $287.3M+41.5% | $248.3M+22.3% | $203.0M0.0% | $203.0M0.0% | $203.0M0.0% | $203.0M0.0% | $203.0M0.0% | $203.0M+1.1% |
| Total Liabilities | $881.5M+85.2% | $811.8M+75.1% | $438.6M-7.7% | $471.4M+0.4% | $476.0M+0.9% | $463.7M-2.4% | $475.1M+3.8% | $469.4M+3.4% |
| Current Liabilities | $496.0M+175.6% | $451.1M+170.2% | $164.2M-8.2% | $175.9M-8.1% | $180.0M+0.8% | $167.0M-12.4% | $178.8M+1.8% | $191.3M+7.9% |
| Non-Current Liabilities | $385.5M+30.2% | $360.7M+21.6% | $274.3M-7.4% | $295.5M+6.2% | $296.0M+1.0% | $296.7M+4.2% | $296.3M+5.0% | $278.1M+0.5% |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Equity | $1.2B+8.1% | $1.2B+7.4% | $1.2B+14.5% | $1.2B+18.6% | $1.1B+20.3% | $1.1B+24.0% | $1.1B+23.8% | $1.0B+22.2% |
| Retained Earnings | $660.9M+6.9% | $621.9M+5.9% | $680.4M+23.2% | $650.4M+26.4% | $618.6M+30.7% | $587.3M+36.0% | $552.1M+37.8% | $514.5M+43.0% |
WHD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $104.6M+26.2% | $128.3M+208.8% | $72.3M+8.5% | $61.8M-27.6% | $82.8M+6.3% | $41.5M-51.8% | $66.6M-27.4% | $85.3M+6.5% |
| Depreciation & Amortization | $36.6M+130.6% | $36.8M+134.5% | $16.2M+5.5% | $16.2M+7.4% | $15.9M+5.9% | $15.7M+4.2% | $15.3M+3.0% | $15.1M-0.5% |
| Stock-Based Compensation | N/A | $7.0M+16.1% | N/A | N/A | N/A | $6.1M+36.8% | N/A | N/A |
| Investing Cash Flow | -$15.6M-41.1% | -$310.0M-1906.3% | -$4.3M+61.7% | -$8.2M+17.8% | -$11.1M-52.6% | -$15.5M-127.0% | -$11.3M-18.7% | -$10.0M-74.7% |
| Financing Cash Flow | -$14.7M+0.2% | -$21.5M+1.2% | -$19.2M-40.2% | -$13.3M+30.9% | -$14.8M+13.6% | -$21.8M-8.3% | -$13.7M-2.5% | -$19.2M+74.0% |
| Dividends Paid | $9.8M+9.2% | $10.2M+10.8% | $9.6M+8.9% | $9.6M+11.0% | $8.9M+11.8% | $9.2M+13.2% | $8.9M+12.8% | $8.7M+11.4% |
| Share Buybacks | $128K-39.6% | $7.9M+43.7% | $13K+30.0% | $204K-75.5% | $212K-4.1% | $5.5M-33.5% | $10K-98.5% | $832K |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
WHD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.3%-3.2pp | 28.7%-9.7pp | 36.2%-1.6pp | 36.8%-2.2pp | 36.5%-2.7pp | 38.4%0.0pp | 37.8% | 39.0% |
| Operating Margin | 18.6%-3.6pp | 12.8%-11.7pp | 22.9%-3.0pp | 23.2%-3.0pp | 22.2%-5.3pp | 24.5%+1.7pp | 25.9%-2.7pp | 26.2%-4.2pp |
| Net Margin | 10.9%-3.8pp | 8.5%-7.3pp | 15.3%-1.9pp | 15.8%-1.3pp | 14.7%-2.4pp | 15.8%+1.6pp | 17.2%-0.7pp | 17.0%-1.2pp |
| Return on Equity | 4.0%+0.4pp | 2.8%-1.2pp | 3.3%-1.1pp | 3.5%-1.5pp | 3.5%-1.7pp | 4.0%-0.4pp | 4.4%-1.3pp | 5.0%-1.4pp |
| Return on Assets | 1.9%-0.3pp | 1.3%-1.2pp | 2.1%-0.6pp | 2.2%-0.7pp | 2.2%-0.8pp | 2.5%0.0pp | 2.7%-0.5pp | 3.0%-0.6pp |
| Current Ratio | 2.59-2.3x | 2.61-2.2x | 5.81+1.5x | 5.28+1.5x | 4.85+1.1x | 4.85+1.6x | 4.33+1.2x | 3.82+1.0x |
| Debt-to-Equity | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.00-0.6x |
| Asset Turnover | 0.170.0x | 0.160.0x | 0.140.0x | 0.140.0x | 0.150.0x | 0.160.0x | 0.160.0x | 0.170.0x |
Not reported in any period shown, so not listed: FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Cactus WHD | FY2025 | $1.1B | $166.0M | 15.4% | $4.9B | 66/100 |
| Tidewater Inc TDW | FY2025 | $1.4B | $333.5M | 24.6% | $4.6B | 74/100 |
| Kodiak Gas Services Inc KGS | FY2025 | $1.3B | $80.5M | 6.2% | $6.5B | 58/100 |
| Usa Compression Partners Lp USAC | FY2025 | $998.1M | $111.3M | 11.2% | $4.0B | 63/100 |
| Oceaneering Intl OII | FY2025 | $2.8B | $353.8M | 12.7% | $5.0B | 69/100 |
| Solaris Energy Infrastructure Inc SEI | FY2025 | $622.2M | $30.2M | 4.9% | $4.2B | 66/100 |
Where Cactus Ranks
Frequently Asked Questions
What is Cactus's annual revenue?
Cactus (WHD) reported $1.1B in total revenue for fiscal year 2025. This represents a -4.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cactus's revenue growing?
Cactus (WHD) revenue declined by 4.5% year-over-year, from $1.1B to $1.1B in fiscal year 2025.
Is Cactus profitable?
Yes, Cactus (WHD) reported a net income of $166.0M in fiscal year 2025, with a net profit margin of 15.4%.
What is Cactus's EBITDA?
Cactus (WHD) had EBITDA of $314.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cactus have?
As of fiscal year 2025, Cactus (WHD) had $123.6M in cash and equivalents against $0 in long-term debt.
What is Cactus's gross margin?
Cactus (WHD) had a gross margin of 37.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Cactus's operating margin?
Cactus (WHD) had an operating margin of 23.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cactus's net profit margin?
Cactus (WHD) had a net profit margin of 15.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Cactus pay dividends?
Yes, Cactus (WHD) paid $0.54 per share in dividends during fiscal year 2025.
What is Cactus's return on equity (ROE)?
Cactus (WHD) has a return on equity of 13.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cactus's operating cash flow?
Cactus (WHD) generated $258.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cactus's total assets?
Cactus (WHD) had $1.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Cactus's current ratio?
Cactus (WHD) had a current ratio of 5.81 as of fiscal year 2025, which is generally considered healthy.
What is Cactus's debt-to-equity ratio?
Cactus (WHD) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cactus's return on assets (ROA)?
Cactus (WHD) had a return on assets of 8.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cactus's P/E ratio?
Cactus (WHD) trades at 29.8x earnings, its market capitalization divided by net income of $163.4M net income, trailing 12 months to June 30, 2026. The market capitalization is $4.9B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cactus's price-to-sales ratio?
Cactus (WHD) trades at 3.6x sales, its market capitalization divided by revenue of $1.4B revenue, trailing 12 months to June 30, 2026. The market capitalization is $4.9B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cactus's Altman Z-Score?
Cactus (WHD) has an Altman Z-Score of 8.69, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Cactus's Piotroski F-Score?
Cactus (WHD) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cactus's earnings high quality?
Cactus (WHD) has an earnings quality ratio of 1.56x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Cactus cover its interest payments?
Cactus (WHD) has an interest coverage ratio of 360.43x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Cactus?
Cactus (WHD) scores 66 out of 100 on our Financial Health Score, indicating strong standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.