Overview
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- TickerWHD on NYSE1
- IndustryOil & Gas Field Machinery & Equipment1
- Websitecactuswhd.com
- Business address920 Memorial City Way, Suite 300, Houston, Tx 770245
- Filer categoryLarge accelerated filer5
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
23.2%Operating margin4
15.4%Net margin4
-4.5%Revenue growth, 20254
13.5%Return on equity4
0.00×Debt to equity4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product brought in 76% of the revenue Cactus Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Product | $810.4M | $852.3M | $825.5M |
| Product and Service, Other | $172.9M | $175.8M | $168.3M |
| Rental Revenue | $113.6M | $101.8M | $85.2M |
Business segments
Pressure Control brought in 66% of the revenue Cactus Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Pressure Control | $756.7M | $722.8M | $710.8M |
| Spoolable Technologies | $340.2M | $407.0M | $368.2M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue63¢$679.6M
- Selling, general and admin14¢$148.9M
- Other costs2¢$25.5M
- Income tax5¢$59.0M
- Profit15¢$166.0M
Out of $1.1B in revenue.4
Where each dollar of operating cash went, fiscal 2025
- Dividends paid14¢$37.4M
- Share buybacks2¢$5.9M
- Kept or used elsewhere83¢$215.0M
Out of $258.4M of cash from operations.4
Financial statements
Every line of the income statement in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $1.1B | $1.1B | $1.1B |
| Selling, general and administrative expenses | $148.9M | $130.5M | $127.1M |
| Change in fair value of earn-out liability | $0 | $16.3M | $14.8M |
| Total costs and expenses | $828.5M | $840.2M | $832.6M |
| Operating income | $250.5M | $289.6M | $264.4M |
| Interest income (expense), net | $11.0M | $6.5M | -$6.5M |
| Other (expense) income, net | -$794.0K | $3.2M | $4.5M |
| Income before income taxes | $260.7M | $299.3M | $262.4M |
| Income tax expense | $59.0M | $66.5M | $47.5M |
| Net income | $201.6M | $232.8M | $214.8M |
| Less: net income attributable to non-controlling interest | $35.6M | $47.4M | $45.7M |
| Net income attributable to Cactus Inc. | $166.0M | $185.4M | $169.2M |
Every line of the balance sheet in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $123.6M | $342.8M | $133.8M |
| Restricted cash | $371.0M | $0 | $0 |
| Accounts receivable, net of allowance of $4,494 and $3,779, respectively | $164.5M | $191.6M | |
| Inventories | $276.6M | $226.8M | |
| Prepaid expenses and other current assets | $19.2M | $13.4M | |
| Total current assets | $954.9M | $774.7M | |
| Property and equipment, net | $342.6M | $346.0M | |
| Operating lease right-of-use assets, net | $19.5M | $24.1M | |
| Intangible assets, net | $148.0M | $164.0M | |
| Goodwill | $203.0M | $203.0M | |
| Deferred tax asset, net | $187.5M | $219.0M | |
| Investment in unconsolidated affiliates | $5.9M | $0 | |
| Other noncurrent assets | $10.1M | $8.5M | |
| Total assets | $1.9B | $1.7B | $1.5B |
| Accounts payable | $71.5M | $72.0M | |
| Accrued expenses and other current liabilities | $59.1M | $75.4M | |
| Current portion of liability related to tax receivable agreement | $21.3M | $20.3M | |
| Finance lease obligations, current portion | $7.5M | $7.0M | |
| Operating lease liabilities, current portion | $4.8M | $4.1M | |
| Total current liabilities | $164.2M | $178.8M | |
| Deferred tax liability, net | $2.8M | $2.9M | |
| Liability related to tax receivable agreement, net of current portion | $241.6M | $258.4M | |
| Finance lease obligations, net of current portion | $9.7M | $10.5M | |
| Operating lease liabilities, net of current portion | $15.8M | $20.1M | |
| Other noncurrent liabilities | $4.5M | $4.5M | |
| Total liabilities | $438.6M | $475.1M | |
| Preferred stock, $0.01 par value, 10,000 shares authorized, none issued and outstanding | $0 | $0 | |
| Additional paid-in capital | $546.9M | $520.8M | |
| Retained earnings | $680.4M | $552.1M | |
| Accumulated other comprehensive loss | -$1.6M | -$2.5M | |
| Total stockholders equity attributable to Cactus Inc. | $1.2B | $1.1B | |
| Non-controlling interest | $206.7M | $193.1M | |
| Total stockholders equity | $1.4B | $1.3B | $1.1B |
| Total liabilities and equity | $1.9B | $1.7B | |
| Allowance for doubtful accounts receivable | $4.5M | $3.8M | |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $201.6M | $232.8M | $214.8M |
| Depreciation and amortization | $63.9M | $60.4M | $65.0M |
| Deferred financing cost amortization | $1.1M | $1.1M | $4.5M |
| Stock-based compensation | $24.5M | $22.9M | $18.1M |
| Provision for expected credit losses | $1.2M | $370.0K | $2.6M |
| Inventory obsolescence | $3.2M | $3.8M | $5.3M |
| Gain on disposal of assets | -$3.0M | -$1.0M | -$3.2M |
| Deferred income taxes | $35.1M | $19.8M | $17.3M |
| Change in fair value of earn-out liability | $0 | $16.3M | $14.8M |
| (Gain) loss from revaluation of liability related to tax receivable agreement | $794.0K | -$3.2M | -$4.5M |
| Accounts receivable | $26.4M | $13.0M | -$11.9M |
| Inventories | -$52.5M | -$25.6M | $41.9M |
| Prepaid expenses and other assets | -$6.0M | -$2.3M | $753.0K |
| Accounts payable | -$2.1M | $675.0K | $8.7M |
| Accrued expenses and other liabilities | -$15.9M | $29.0M | -$7.4M |
| Payments pursuant to tax receivable agreement | -$20.1M | -$20.8M | -$26.9M |
| Payment of earn-out liability | $0 | -$31.2M | $0 |
| Net cash provided by operating activities | $258.4M | $316.1M | $340.3M |
| Acquisition of a business, net of cash and cash equivalents acquired | $0 | $0 | -$616.2M |
| Investment in unconsolidated affiliates | -$6.0M | $0 | $0 |
| Capital expenditures and other | -$38.8M | -$39.2M | -$44.0M |
| Proceeds from sale of assets | $5.7M | $3.8M | $5.4M |
| Net cash used in investing activities | -$39.1M | -$35.4M | -$654.8M |
| Proceeds from the issuance of long-term debt | $0 | $0 | $155.0M |
| Repayments of borrowings of long-term debt | $0 | $0 | -$155.0M |
| Payment of contingent consideration | $0 | -$6.0M | $0 |
| Net proceeds from the issuance of Class A common stock | $0 | $0 | $169.9M |
| Payments of deferred financing costs | -$2.4M | $0 | -$6.9M |
| Payments on finance leases | -$7.7M | -$7.9M | -$7.7M |
| Dividends paid to Class A common stock shareholders | -$37.4M | -$33.7M | -$30.1M |
| Distributions to members | -$15.6M | -$13.3M | -$16.6M |
| Repurchases of shares | -$5.9M | -$9.3M | -$5.2M |
| Net cash (used in) provided by financing activities | -$69.1M | -$70.1M | $103.3M |
| Effect of exchange rate changes on cash and cash equivalents | $1.4M | -$1.5M | $503.0K |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $151.7M | $209.1M | -$210.7M |
Timeline
- 2011Went public Listed on NYSE1
Recent filings
- Oct 2, 20264
- Oct 2, 20264
- Oct 2, 20264
- Oct 1, 2026144
- Sep 8, 20268-K
- Sep 2, 20264
- Sep 2, 20264
- Sep 2, 20264
- Sep 1, 2026144
- Aug 10, 20264
- Aug 10, 20264
- Aug 10, 20264
- Aug 10, 20264
- Aug 7, 2026144
- Aug 6, 20264
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
Links
- Websitecactuswhd.com1
- WikidataQ111384774
- SEC EDGARCIK 1699136
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataCactus Inc. on Wikidata
- 2SEC EDGARCactus Inc. filings on SEC EDGAR
- 3Company websiteCactus Inc. logo
- 4SEC EDGARCactus Inc. 10-K for fiscal 2025
- 5SEC EDGARCactus Inc. filings on SEC EDGAR
- 6SEC EDGARCactus Inc. 10-K for fiscal 2018
- 7SEC EDGARCactus Inc. 10-K for fiscal 2019
- 8SEC EDGARCactus Inc. 10-K for fiscal 2020
- 9SEC EDGARCactus Inc. 10-K for fiscal 2021
- 10SEC EDGARCactus Inc. 10-K for fiscal 2022
- 11SEC EDGARCactus Inc. 10-Q for fiscal 2025
- 12SEC EDGARCactus Inc. 10-Q for fiscal 2025
- 13SEC EDGARCactus Inc. 10-Q for fiscal 2026
- 14SEC EDGARCactus Inc. 10-K for fiscal 2018
- 15SEC EDGARCactus Inc. 10-Q for fiscal 2025