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NYSE · Industrials

Cactus, Inc. (WHD)

As-reported financials and SEC filings for Cactus, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Cactus, Inc.

Cactus, Inc. designs, manufactures, sells, and rents pressure control equipment and spoolable pipe technologies used in onshore unconventional oil and gas wells. The company serves customers during the drilling, completion, and production phases of wells, providing products under the Cactus Wellhead and FlexSteel brands. It operates service centers and manufacturing facilities in the United States, Canada, Australia, China, and Vietnam, and offers field services, repair, and refurbishment to support its equipment.

Snapshot

Revenue
$1.08B
Revenue growth (YoY)
-4.5%
Net income
$166.0M
Diluted EPS
Gross margin
37.0%
Operating margin
23.2%
Net margin
15.4%
FCF margin
ROE
11.6%
net income / fiscal-year-end equity
P/E
59.4×
trailing when available, otherwise FY EPS
Market cap
$4.93B
Long-term debt / equity
0.00×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Cactus

  • Revenue fell 4.5% to $1.1B in FY2025, slower than the 3.0% the year before.
  • Operating margin is 23.2% in FY2025, +6.0 pp against 17.2% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $450M, up 64.3% from Q2 FY2025.
  • Net income fell 10.5% to $166M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Cactus’s fundamentals sit among the 684 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin37.0%
68th percentile of 466
Operating margin23.2%
92nd percentile of 605
Net margin15.4%
87th percentile of 645
Revenue growth (YoY)-4.5%
22nd percentile of 668
ROE11.6%
64th percentile of 600
P/E59.4×
90th percentile of 434
Long-term debt / equity0.00×
1st percentile of 409
Short interest3.78d
58th percentile of 676

Cactus’s long-term debt to equity of 0.00 ranks in the 1st percentile of the 409 Industrials companies reporting it. Cactus’s operating margin of 23.2% ranks in the 92nd percentile of the 605 Industrials companies reporting it. Cactus’s P/E of 59.4 ranks in the 90th percentile of the 434 peers with a meaningful P/E.

No reported insider purchases (code P) in the last 90 days; 10 insider sales totaling $29.5M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+5 quant / multi-strat
Initiated / added
4
2 new, 2 added
Reduced / exited
3
2 trimmed, 1 exited
Combined position
$38.1M
reported long value
InvestorAs ofPosition valueSharesChange
Bridgewater AssociatesQ2 2026$15.4M300.6KAdded
Renaissance TechnologiesquantQ2 2026$6.8M133.0KNew
Millennium ManagementquantQ2 2026$6.2M121.9KReduced
AQR Capital ManagementquantQ2 2026$4.6M89.6KAdded
Citadel AdvisorsquantQ2 2026$4.5M88.3KReduced
Two Sigma InvestmentsquantQ2 2026$506,8189.9KNew

No longer held by: Gotham Asset Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
10
$29.5M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-07
filed 2026-08-10
Bender StevenCOO, EVP and CEO-SpoolableTechSell25.0K$67.65$1.7M
2026-08-05
filed 2026-08-06
ODONNELL JOHN ADirectorSell10.0K$66.13$661K
2026-08-05
filed 2026-08-06
MARSH WILLIAM DGC, EVP and SecretarySell7.2K$66.32$476K
2026-08-03
filed 2026-08-05
Bender JoelPresidentSell100.0K$63.89$6.4M
2026-08-03
filed 2026-08-05
Bender ScottChairman and CEOSell100.0K$63.89$6.4M
2026-08-03
filed 2026-08-05
Tadlock StephenEVP/CEO Cactus IntlSell38.5K$63.80$2.5M
2026-07-30
filed 2026-08-03
Bender ScottChairman and CEOSell86.7K$57.62$5.0M
2026-07-30
filed 2026-08-03
Bender JoelPresidentSell86.7K$57.62$5.0M
2026-07-27
filed 2026-07-29
Bender JoelPresidentSell13.3K$55.07$732K
2026-07-27
filed 2026-07-29
Bender ScottChairman and CEOSell13.3K$55.07$732K
2026-05-12
filed 2026-05-14
MCGOVERN MICHAEL YDirectorSell12.0K$56.57$679K
2026-05-12
filed 2026-05-14
Semple AlanDirectorSell10.2K$56.62$578K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
3.3M
settled 2026-08-14
Change vs prior
+2.8%
vs previous settlement
Days to cover
3.78
at avg daily volume
Avg daily volume
884.7K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-143.3M+2.8%3.78
2026-07-313.3M-9.3%3.94
2026-07-153.6M+1.4%4.67
2026-06-303.5M-1.0%3.31
2026-06-153.6M-22.6%5.91
2026-05-294.6M+31.4%5.80
2026-05-153.5M+2.3%4.94
2026-04-303.4M-6.1%4.69

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$1.08B$1.13B$1.10B$688.4M$438.6M
Gross profit$399.4M$436.4M$406.3M$242.4M
Operating income$250.5M$289.6M$264.4M$174.7M$75.4M
Net income$166.0M$185.4M$169.2M$110.2M$49.6M
Diluted EPS

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$258.4M$316.1M$340.3M$117.9M$63.8M
Capital expenditure
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$449.5M64.3%$49.0M
Q1 FY2026$388.3M38.5%$32.9M
Q4 FY2025$261.2M-4.0%$39.8M
Q3 FY2025$264.0M-10.0%$41.6M
Q2 FY2025$273.6M-5.8%$40.3M
Q1 FY2025$280.3M2.3%$44.2M
Q4 FY2024$272.1M-1.0%$46.7M
Q3 FY2024$293.2M1.8%$49.9M

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorIndustrials
SIC industryOil & Gas Field Machinery & Equipment
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2017
SEC CIK1699136

Selected SEC filings

10-Q2026-07-31
View on EDGAR →
10-Q2026-05-08
View on EDGAR →
8-K2026-07-29
View on EDGAR →
8-K2026-06-02
View on EDGAR →
8-K2026-05-12
View on EDGAR →
8-K2026-05-07
View on EDGAR →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.