Cactus, Inc. (WHD) 10-Year Financial Performance & Capital Metrics

WHD • • Industrial / General

EnergyOilfield ServicesCompletion & Production EquipmentCompletion Tools & Systems

AboutCactus, Inc. designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, repair, and safe handling of the wellhead and pressure control equipment; and repair and refurbishment services. The company sells or rents its products for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells. In addition, it operates 15 service centers in the United States, as well as 3 service centers in Eastern Australia. Cactus, Inc. was founded in 2011 and is headquartered in Houston, Texas.Show more

Revenue $1.13B +3.0%
EBITDA $350M +6.3%
Net Income $185M +9.6%
EPS (Diluted) 2.77 +7.8%
Gross Margin 38.63% +4.3%
EBITDA Margin 30.98% +3.2%
Operating Margin 25.63% +6.4%
Net Margin 16.41% +6.4%
ROE 15.92% -16.5%
ROIC 22.46% -22.3%
Debt/Equity 0.03 -12.1%
Interest Coverage 75.74 +193.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y profit CAGR of 16.7%
✓FCF machine: 24.5% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 12.4%
✓Good 3Y average ROE of 17.3%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y12.45%

3Y37.08%

TTM-3.76%

Profit (Net Income) CAGR

10Y-

5Y16.71%

3Y55.2%

TTM-7.89%

EPS CAGR

10Y-

5Y6%

3Y49.44%

TTM-10.64%

ROCE

10Y Avg24.15%

5Y Avg15.86%

3Y Avg20.3%

Latest19.92%

Peer Comparison

Completion Tools & Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
WHDCactus, Inc.	3.62B	52.56	18.97	3%	15.86%	12.41%	7.65%	0.03
NCSMNCS Multistage Holdings, Inc.	99.73M	39.25	15.39	14.1%	6.89%	9.64%	11.45%	0.13
TSTenaris S.A.	20.94B	41.48	5.73	-15.77%	16.91%	11.58%	10.32%	0.03
OMSEOMS Energy Technologies Inc.	213.09M	5.02	4.74	108.91%	22.01%	53.12%	17.66%	0.05
NINENine Energy Service, Inc.	21.77M	0.50	-0.45	-9.09%	-7.17%
BOOMDMC Global Inc.	177.28M	8.61	-1.05	-10.61%	-1.11%	-1.56%	16.53%	0.27
OISOil States International, Inc.	489.32M	8.19	-45.50	-11.47%	3.65%	3.48%	1.71%	0.22

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	221.4M	155.05M	341.19M	544.13M	628.41M	348.57M	438.59M	688.37M	1.1B	1.13B
Revenue Growth %	-	-0.3%	1.2%	0.59%	0.15%	-0.45%	0.26%	0.57%	0.59%	0.03%
Cost of Goods Sold+	157.06M	125.23M	225.15M	325.9M	393.61M	236.95M	317.14M	445.92M	690.67M	693.42M
COGS % of Revenue	0.71%	0.81%	0.66%	0.6%	0.63%	0.68%	0.72%	0.65%	0.63%	0.61%
Gross Profit+	64.34M	29.82M	116.04M	218.23M	234.81M	111.62M	121.45M	242.45M	406.29M	436.39M
Gross Margin %	0.29%	0.19%	0.34%	0.4%	0.37%	0.32%	0.28%	0.35%	0.37%	0.39%
Gross Profit Growth %	-	-0.54%	2.89%	0.88%	0.08%	-0.52%	0.09%	1%	0.68%	0.07%
Operating Expenses+	22.14M	19.21M	27.18M	40.53M	51.66M	41.58M	46.02M	67.7M	141.93M	146.78M
OpEx % of Revenue	0.1%	0.12%	0.08%	0.07%	0.08%	0.12%	0.1%	0.1%	0.13%	0.13%
Selling, General & Admin	22.14M	19.21M	27.18M	40.53M	51.66M	39.72M	46.02M	67.7M	127.08M	130.46M
SG&A % of Revenue	0.1%	0.12%	0.08%	0.07%	0.08%	0.11%	0.1%	0.1%	0.12%	0.12%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	1.86M	0	0	14.85M	16.32M
Operating Income+	42.2M	10.62M	88.86M	177.7M	183.15M	70.04M	75.43M	174.75M	264.37M	289.61M
Operating Margin %	0.19%	0.07%	0.26%	0.33%	0.29%	0.2%	0.17%	0.25%	0.24%	0.26%
Operating Income Growth %	-	-0.75%	7.37%	1%	0.03%	-0.62%	0.08%	1.32%	0.51%	0.1%
EBITDA+	62.78M	31.86M	112.13M	207.85M	222M	110.56M	111.73M	208.87M	329.41M	350.05M
EBITDA Margin %	0.28%	0.21%	0.33%	0.38%	0.35%	0.32%	0.25%	0.3%	0.3%	0.31%
EBITDA Growth %	-	-0.49%	2.52%	0.85%	0.07%	-0.5%	0.01%	0.87%	0.58%	0.06%
D&A (Non-Cash Add-back)	20.58M	21.24M	23.27M	30.15M	38.85M	40.52M	36.31M	34.12M	65.05M	60.44M
EBIT	43.6M	12.85M	88.79M	173.48M	189.51M	71.14M	75.98M	177.45M	267.3M	301.55M
Net Interest Income+	-21.84M	-20.23M	-20.77M	-3.6M	879K	701K	-774K	3.71M	-6.48M	6.46M
Interest Income	11K	2K	0	128K	2.4M	1.83M	353K	4.94M	3.76M	10.28M
Interest Expense	21.85M	20.23M	20.77M	3.72M	1.52M	1.13M	1.13M	1.23M	10.24M	3.82M
Other Income/Expense	-20.2M	-17.98M	-20.77M	-7.9M	5.17M	146K	-282K	1.8M	-1.99M	9.66M
Pretax Income+	22.01M	-7.37M	68.1M	169.8M	188.32M	70.19M	75.14M	176.55M	262.38M	299.28M
Pretax Margin %	0.1%	-0.05%	0.2%	0.31%	0.3%	0.2%	0.17%	0.26%	0.24%	0.26%
Income Tax+	784K	809K	1.55M	19.52M	32.02M	10.97M	7.67M	31.43M	47.54M	66.52M
Effective Tax Rate %	0.96%	1.11%	0.98%	0.38%	0.45%	0.49%	0.66%	0.62%	0.64%	0.62%
Net Income+	21.22M	-8.18M	66.55M	65.33M	85.61M	34.45M	49.59M	110.17M	169.17M	185.41M
Net Margin %	0.1%	-0.05%	0.2%	0.12%	0.14%	0.1%	0.11%	0.16%	0.15%	0.16%
Net Income Growth %	-	-1.39%	9.14%	-0.02%	0.31%	-0.6%	0.44%	1.22%	0.54%	0.1%
Net Income (Continuing)	21.22M	-8.18M	66.55M	150.28M	156.3M	59.22M	67.47M	145.12M	214.84M	232.76M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	184.67M	188.93M	197.8M	126.39M	138.53M	199.25M	193.06M
EPS (Diluted)+	581.48	-0.76	3.11	2.00	2.07	0.72	0.83	1.80	2.57	2.77
EPS Growth %	-	-1%	5.09%	-0.36%	0.04%	-0.65%	0.15%	1.17%	0.43%	0.08%
EPS (Basic)	581.48	-0.76	3.11	2.02	3.47	1.25	1.22	1.83	2.62	2.79
Diluted Shares Outstanding	36.5K	10.73M	21.43M	32.7M	75.35M	75.5M	76.11M	76.34M	79.46M	79.92M
Basic Shares Outstanding	36.5K	10.73M	21.43M	32.33M	44.98M	47.46M	55.4M	60.32M	64.64M	66.39M
Dividend Payout Ratio	0.58%	-	-	0.49%	0.05%	0.5%	0.43%	0.24%	0.18%	0.18%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	93.4M	82.59M	163.93M	274.5M	414.88M	425.14M	518.49M	654.64M	556.18M	774.69M
Cash & Short-Term Investments	12.53M	8.69M	7.57M	70.84M	202.6M	288.66M	301.67M	344.53M	133.79M	342.84M
Cash Only	12.53M	8.69M	7.57M	70.84M	202.6M	288.66M	301.67M	344.53M	133.79M	342.84M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	32.44M	32.29M	84.17M	92.27M	87.86M	44.07M	89.2M	138.27M	205.38M	191.63M
Days Sales Outstanding	53.49	76.01	90.05	61.89	51.03	46.15	74.24	73.32	68.34	61.91
Inventory	43.61M	37.9M	64.45M	99.84M	113.37M	87.48M	119.82M	161.28M	205.63M	226.8M
Days Inventory Outstanding	101.35	110.47	104.48	111.81	105.13	134.76	137.9	132.02	108.67	119.38
Other Current Assets	0	0	7.73M	0	0	4.93M	0	10.56M	11.38M	13.42M
Total Non-Current Assets+	84.16M	82.74M	102.53M	310.24M	420.08M	390.45M	463.59M	464.25M	966.38M	964.64M
Property, Plant & Equipment	76.33M	74.87M	94.65M	142.05M	188.31M	164.82M	151.66M	153.18M	369M	370.1M
Fixed Asset Turnover	2.90x	2.07x	3.60x	3.83x	3.34x	2.11x	2.89x	4.49x	2.97x	3.05x
Goodwill	7.82M	7.82M	7.82M	7.82M	7.82M	7.82M	7.82M	7.82M	203.03M	203.03M
Intangible Assets	0	0	0	0	0	0	0	0	179.98M	163.99M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	44K	49K	1.31M	1.4M	1.21M	1.04M	1.6M	9.53M	8.52M
Total Assets+	177.56M	165.33M	266.46M	584.74M	834.96M	815.59M	982.08M	1.12B	1.52B	1.74B
Asset Turnover	1.25x	0.94x	1.28x	0.93x	0.75x	0.43x	0.45x	0.62x	0.72x	0.65x
Asset Growth %	-	-0.07%	0.61%	1.19%	0.43%	-0.02%	0.2%	0.14%	0.36%	0.14%
Total Current Liabilities+	19.63M	24.13M	52.87M	74.62M	91.13M	48.91M	92.57M	116.65M	175.66M	178.82M
Accounts Payable	8.85M	14M	35.08M	42.05M	40.96M	20.16M	42.82M	47.78M	71.84M	72M
Days Payables Outstanding	20.57	40.81	56.87	47.09	37.98	31.06	49.28	39.11	37.97	37.9
Short-Term Debt	2.65M	2.57M	7.24M	7.35M	0	8.07M	0	0	0	0
Deferred Revenue (Current)	1000K	565K	765K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	4.69M	7.41M	2.19M	8.92M	600K	13.07M	269K	576K	20.81M	0
Current Ratio	4.76x	3.42x	3.10x	3.68x	4.55x	8.69x	5.60x	5.61x	3.17x	4.33x
Quick Ratio	2.54x	1.85x	1.88x	2.34x	3.31x	6.90x	4.31x	4.23x	2.00x	3.06x
Cash Conversion Cycle	134.27	145.67	137.66	126.62	118.19	149.84	162.86	166.22	139.04	143.39
Total Non-Current Liabilities+	251.09M	244.51M	249.8M	147.79M	227.44M	215.91M	294.47M	291.8M	282.13M	296.32M
Long-Term Debt	250.56M	242.25M	241.44M	0	0	0	0	0	0	0
Capital Lease Obligations	0	2.06M	7.95M	8.74M	24.19M	20.06M	23.46M	24.81M	28.47M	30.61M
Deferred Tax Liabilities	64K	196K	416K	139.05M	1.35M	786K	1.17M	1.97M	3.59M	2.87M
Other Non-Current Liabilities	474K	0	0	138.01M	201.9M	195.06M	269.84M	265.02M	250.07M	262.85M
Total Liabilities	270.73M	268.65M	302.67M	222.42M	318.57M	264.82M	387.05M	408.45M	457.79M	475.15M
Total Debt+	253.2M	248.02M	256.62M	16.09M	37.66M	28.13M	33.21M	35.52M	39.97M	41.72M
Net Debt	240.68M	239.33M	249.04M	-54.75M	-164.94M	-260.53M	-268.46M	-309.01M	-93.82M	-301.13M
Debt / Equity	-	-	-	0.03x	0.07x	0.05x	0.06x	0.05x	0.04x	0.03x
Debt / EBITDA	4.03x	7.79x	2.29x	0.08x	0.17x	0.25x	0.30x	0.17x	0.12x	0.12x
Net Debt / EBITDA	3.83x	7.51x	2.22x	-0.26x	-0.74x	-2.36x	-2.40x	-1.48x	-0.28x	-0.86x
Interest Coverage	1.93x	0.52x	4.28x	47.73x	120.18x	62.15x	66.93x	142.30x	25.83x	75.74x
Total Equity+	-93.17M	-103.32M	-36.22M	547M	516.39M	550.77M	595.03M	710.45M	1.06B	1.26B
Equity Growth %	-	-0.11%	0.65%	16.1%	-0.06%	0.07%	0.08%	0.19%	0.5%	0.19%
Book Value per Share	-2552.52	-9.63	-1.69	16.73	6.85	7.30	7.82	9.31	13.40	15.82
Total Shareholders' Equity	-93.17M	-103.32M	-36.22M	362.33M	327.47M	352.97M	468.64M	571.92M	865.52M	1.07B
Common Stock	0	0	0	377K	472K	477K	590K	609K	654K	681K
Retained Earnings	0	0	0	51.68M	132.99M	150.09M	178.45M	261.76M	400.68M	552.13M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-191K	-475K	82K	-820K	-452K	330K	8K	-984K	-826K	-2.49M
Minority Interest	0	0	0	184.67M	188.93M	197.8M	126.39M	138.53M	199.25M	193.06M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	45.93M	23.98M	34.71M	167.18M	209.63M	143.38M	63.76M	117.88M	340.28M	316.11M
Operating CF Margin %	0.21%	0.15%	0.1%	0.31%	0.33%	0.41%	0.15%	0.17%	0.31%	0.28%
Operating CF Growth %	-	-0.48%	0.45%	3.82%	0.25%	-0.32%	-0.56%	0.85%	1.89%	-0.07%
Net Income	21.22M	-8.18M	66.55M	150.28M	156.3M	59.22M	67.47M	145.12M	169.17M	232.76M
Depreciation & Amortization	20.58M	21.24M	23.27M	30.15M	38.85M	40.52M	36.31M	34.12M	65.05M	60.44M
Stock-Based Compensation	359K	361K	361K	4.7M	7M	8.6M	8.62M	10.63M	18.11M	22.89M
Deferred Taxes	64K	132K	220K	15.2M	25.4M	6.95M	4.83M	25.3M	17.34M	19.77M
Other Non-Cash Items	3.27M	1.97M	3.08M	6.92M	-11.36M	-10.78M	-8.01M	-7.84M	65.35M	17.43M
Working Capital Changes	432K	8.45M	-58.78M	-40.08M	-6.56M	38.88M	-45.45M	-89.45M	5.27M	-37.18M
Change in Receivables	12.83M	509K	-50.09M	-8.11M	4.2M	44.83M	-45.49M	-49.35M	-11.86M	13.05M
Change in Inventory	10.56M	4.13M	-28.28M	-38.23M	-17.59M	18.2M	-36.08M	-44.89M	41.92M	3.84M
Change in Payables	-18.7M	5.01M	19.5M	7.65M	-607K	-19.43M	22.28M	5.8M	8.71M	675K
Cash from Investing+	-23.42M	-17.36M	-30.68M	-68.15M	-55.95M	-18.15M	-11.63M	-25.54M	-654.79M	-35.39M
Capital Expenditures	-25.28M	-21.72M	-32.08M	-70.05M	-59.7M	-24.49M	-13.94M	-28.29M	-43.98M	0
CapEx % of Revenue	0.11%	0.14%	0.09%	0.13%	0.1%	0.07%	0.03%	0.04%	0.04%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.86M	4.36M	1.4M	1.9M	3.75M	0	2.31M	0	5.37M	-35.39M
Cash from Financing+	-22.78M	-10.17M	-5.31M	-35M	-21.67M	-40.21M	-39.39M	-47.38M	103.28M	-70.14M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-12.23M	-2.06M	0	-31.85M	-4.24M	-17.14M	-21.16M	-26.72M	-30.12M	-33.68M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-19K	0	0	-608.37M	-8.39M	-16.3M	-9.74M	-10.04M	-23.58M	-19.25M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	20.65M	2.25M	2.63M	97.13M	149.93M	118.89M	49.82M	89.59M	296.3M	276.94M
FCF Margin %	0.09%	0.01%	0.01%	0.18%	0.24%	0.34%	0.11%	0.13%	0.27%	0.25%
FCF Growth %	-	-0.89%	0.16%	36%	0.54%	-0.21%	-0.58%	0.8%	2.31%	-0.07%
FCF per Share	565.64	0.21	0.12	2.97	1.99	1.57	0.65	1.17	3.73	3.47
FCF Conversion (FCF/Net Income)	2.16x	-2.93x	0.52x	2.56x	2.45x	4.16x	1.29x	1.07x	2.01x	1.70x
Interest Paid	21.39M	19.95M	0	0	0	0	959K	1.06M	5.63M	2.7M
Taxes Paid	370K	583K	0	0	0	0	4.54M	5.5M	26M	24.8M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-	25.58%	16.1%	6.46%	8.66%	16.88%	19.06%	15.92%
Return on Invested Capital (ROIC)	21.46%	5.62%	38.21%	37.8%	32.56%	16.37%	18.34%	36.01%	28.89%	22.46%
Gross Margin	29.06%	19.23%	34.01%	40.11%	37.36%	32.02%	27.69%	35.22%	37.04%	38.63%
Net Margin	9.59%	-5.27%	19.5%	12.01%	13.62%	9.88%	11.31%	16.01%	15.42%	16.41%
Debt / Equity	-	-	-	0.03x	0.07x	0.05x	0.06x	0.05x	0.04x	0.03x
Interest Coverage	1.93x	0.52x	4.28x	47.73x	120.18x	62.15x	66.93x	142.30x	25.83x	75.74x
FCF Conversion	2.16x	-2.93x	0.52x	2.56x	2.45x	4.16x	1.29x	1.07x	2.01x	1.70x
Revenue Growth	-	-29.97%	120.06%	59.48%	15.49%	-44.53%	25.83%	56.95%	59.36%	3%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Product	290.5M	357.09M	206.8M	280.91M	452.62M	810.38M	852.26M
Product Growth	-	22.92%	-42.09%	35.83%	61.13%	79.04%	5.17%
Product and Service, Other	-	-	75.6M	96.05M	135.3M	172.95M	175.76M
Product and Service, Other Growth	-	-	-	27.06%	40.86%	27.83%	1.63%
Rental Revenue	133.42M	141.82M	66.17M	61.63M	100.45M	113.63M	101.78M
Rental Revenue Growth	-	6.29%	-53.34%	-6.86%	63.00%	13.12%	-10.42%
Product And Service Other	120.22M	129.51M	-	-	-	-	-
Product And Service Other Growth	-	7.73%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Cactus, Inc. (WHD) has a price-to-earnings (P/E) ratio of 19.0x. This is roughly in line with market averages.

Growth & Financials

Cactus, Inc. (WHD) reported $1.09B in revenue for fiscal year 2024. This represents a 392% increase from $221.4M in 2015.

Cactus, Inc. (WHD) grew revenue by 3.0% over the past year. Growth has been modest.

Yes, Cactus, Inc. (WHD) is profitable, generating $172.9M in net income for fiscal year 2024 (16.4% net margin).

Dividend & Returns

Yes, Cactus, Inc. (WHD) pays a dividend with a yield of 0.80%. This makes it attractive for income-focused investors.

Cactus, Inc. (WHD) has a return on equity (ROE) of 15.9%. This is reasonable for most industries.

Cactus, Inc. (WHD) generated $208.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Cactus, Inc. (WHD) 10-Year Financial Performance & Capital Metrics

WHD • • Industrial / General

EnergyOilfield ServicesCompletion & Production EquipmentCompletion Tools & Systems

Revenue $1.13B +3.0%
EBITDA $350M +6.3%
Net Income $185M +9.6%
EPS (Diluted) 2.77 +7.8%
Gross Margin 38.63% +4.3%
EBITDA Margin 30.98% +3.2%
Operating Margin 25.63% +6.4%
Net Margin 16.41% +6.4%
ROE 15.92% -16.5%
ROIC 22.46% -22.3%
Debt/Equity 0.03 -12.1%
Interest Coverage 75.74 +193.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y profit CAGR of 16.7%
✓FCF machine: 24.5% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 12.4%
✓Good 3Y average ROE of 17.3%

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y12.45%

3Y37.08%

TTM-3.76%

Profit (Net Income) CAGR

10Y-

5Y16.71%

3Y55.2%

TTM-7.89%

EPS CAGR

10Y-

5Y6%

3Y49.44%

TTM-10.64%

ROCE

10Y Avg24.15%

5Y Avg15.86%

3Y Avg20.3%

Latest19.92%

Peer Comparison

Completion Tools & Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
WHDCactus, Inc.	3.62B	52.56	18.97	3%	15.86%	12.41%	7.65%	0.03
NCSMNCS Multistage Holdings, Inc.	99.73M	39.25	15.39	14.1%	6.89%	9.64%	11.45%	0.13
TSTenaris S.A.	20.94B	41.48	5.73	-15.77%	16.91%	11.58%	10.32%	0.03
OMSEOMS Energy Technologies Inc.	213.09M	5.02	4.74	108.91%	22.01%	53.12%	17.66%	0.05
NINENine Energy Service, Inc.	21.77M	0.50	-0.45	-9.09%	-7.17%
BOOMDMC Global Inc.	177.28M	8.61	-1.05	-10.61%	-1.11%	-1.56%	16.53%	0.27
OISOil States International, Inc.	489.32M	8.19	-45.50	-11.47%	3.65%	3.48%	1.71%	0.22

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	221.4M	155.05M	341.19M	544.13M	628.41M	348.57M	438.59M	688.37M	1.1B	1.13B
Revenue Growth %	-	-0.3%	1.2%	0.59%	0.15%	-0.45%	0.26%	0.57%	0.59%	0.03%
Cost of Goods Sold+	157.06M	125.23M	225.15M	325.9M	393.61M	236.95M	317.14M	445.92M	690.67M	693.42M
COGS % of Revenue	0.71%	0.81%	0.66%	0.6%	0.63%	0.68%	0.72%	0.65%	0.63%	0.61%
Gross Profit+	64.34M	29.82M	116.04M	218.23M	234.81M	111.62M	121.45M	242.45M	406.29M	436.39M
Gross Margin %	0.29%	0.19%	0.34%	0.4%	0.37%	0.32%	0.28%	0.35%	0.37%	0.39%
Gross Profit Growth %	-	-0.54%	2.89%	0.88%	0.08%	-0.52%	0.09%	1%	0.68%	0.07%
Operating Expenses+	22.14M	19.21M	27.18M	40.53M	51.66M	41.58M	46.02M	67.7M	141.93M	146.78M
OpEx % of Revenue	0.1%	0.12%	0.08%	0.07%	0.08%	0.12%	0.1%	0.1%	0.13%	0.13%
Selling, General & Admin	22.14M	19.21M	27.18M	40.53M	51.66M	39.72M	46.02M	67.7M	127.08M	130.46M
SG&A % of Revenue	0.1%	0.12%	0.08%	0.07%	0.08%	0.11%	0.1%	0.1%	0.12%	0.12%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	1.86M	0	0	14.85M	16.32M
Operating Income+	42.2M	10.62M	88.86M	177.7M	183.15M	70.04M	75.43M	174.75M	264.37M	289.61M
Operating Margin %	0.19%	0.07%	0.26%	0.33%	0.29%	0.2%	0.17%	0.25%	0.24%	0.26%
Operating Income Growth %	-	-0.75%	7.37%	1%	0.03%	-0.62%	0.08%	1.32%	0.51%	0.1%
EBITDA+	62.78M	31.86M	112.13M	207.85M	222M	110.56M	111.73M	208.87M	329.41M	350.05M
EBITDA Margin %	0.28%	0.21%	0.33%	0.38%	0.35%	0.32%	0.25%	0.3%	0.3%	0.31%
EBITDA Growth %	-	-0.49%	2.52%	0.85%	0.07%	-0.5%	0.01%	0.87%	0.58%	0.06%
D&A (Non-Cash Add-back)	20.58M	21.24M	23.27M	30.15M	38.85M	40.52M	36.31M	34.12M	65.05M	60.44M
EBIT	43.6M	12.85M	88.79M	173.48M	189.51M	71.14M	75.98M	177.45M	267.3M	301.55M
Net Interest Income+	-21.84M	-20.23M	-20.77M	-3.6M	879K	701K	-774K	3.71M	-6.48M	6.46M
Interest Income	11K	2K	0	128K	2.4M	1.83M	353K	4.94M	3.76M	10.28M
Interest Expense	21.85M	20.23M	20.77M	3.72M	1.52M	1.13M	1.13M	1.23M	10.24M	3.82M
Other Income/Expense	-20.2M	-17.98M	-20.77M	-7.9M	5.17M	146K	-282K	1.8M	-1.99M	9.66M
Pretax Income+	22.01M	-7.37M	68.1M	169.8M	188.32M	70.19M	75.14M	176.55M	262.38M	299.28M
Pretax Margin %	0.1%	-0.05%	0.2%	0.31%	0.3%	0.2%	0.17%	0.26%	0.24%	0.26%
Income Tax+	784K	809K	1.55M	19.52M	32.02M	10.97M	7.67M	31.43M	47.54M	66.52M
Effective Tax Rate %	0.96%	1.11%	0.98%	0.38%	0.45%	0.49%	0.66%	0.62%	0.64%	0.62%
Net Income+	21.22M	-8.18M	66.55M	65.33M	85.61M	34.45M	49.59M	110.17M	169.17M	185.41M
Net Margin %	0.1%	-0.05%	0.2%	0.12%	0.14%	0.1%	0.11%	0.16%	0.15%	0.16%
Net Income Growth %	-	-1.39%	9.14%	-0.02%	0.31%	-0.6%	0.44%	1.22%	0.54%	0.1%
Net Income (Continuing)	21.22M	-8.18M	66.55M	150.28M	156.3M	59.22M	67.47M	145.12M	214.84M	232.76M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	184.67M	188.93M	197.8M	126.39M	138.53M	199.25M	193.06M
EPS (Diluted)+	581.48	-0.76	3.11	2.00	2.07	0.72	0.83	1.80	2.57	2.77
EPS Growth %	-	-1%	5.09%	-0.36%	0.04%	-0.65%	0.15%	1.17%	0.43%	0.08%
EPS (Basic)	581.48	-0.76	3.11	2.02	3.47	1.25	1.22	1.83	2.62	2.79
Diluted Shares Outstanding	36.5K	10.73M	21.43M	32.7M	75.35M	75.5M	76.11M	76.34M	79.46M	79.92M
Basic Shares Outstanding	36.5K	10.73M	21.43M	32.33M	44.98M	47.46M	55.4M	60.32M	64.64M	66.39M
Dividend Payout Ratio	0.58%	-	-	0.49%	0.05%	0.5%	0.43%	0.24%	0.18%	0.18%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	93.4M	82.59M	163.93M	274.5M	414.88M	425.14M	518.49M	654.64M	556.18M	774.69M
Cash & Short-Term Investments	12.53M	8.69M	7.57M	70.84M	202.6M	288.66M	301.67M	344.53M	133.79M	342.84M
Cash Only	12.53M	8.69M	7.57M	70.84M	202.6M	288.66M	301.67M	344.53M	133.79M	342.84M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	32.44M	32.29M	84.17M	92.27M	87.86M	44.07M	89.2M	138.27M	205.38M	191.63M
Days Sales Outstanding	53.49	76.01	90.05	61.89	51.03	46.15	74.24	73.32	68.34	61.91
Inventory	43.61M	37.9M	64.45M	99.84M	113.37M	87.48M	119.82M	161.28M	205.63M	226.8M
Days Inventory Outstanding	101.35	110.47	104.48	111.81	105.13	134.76	137.9	132.02	108.67	119.38
Other Current Assets	0	0	7.73M	0	0	4.93M	0	10.56M	11.38M	13.42M
Total Non-Current Assets+	84.16M	82.74M	102.53M	310.24M	420.08M	390.45M	463.59M	464.25M	966.38M	964.64M
Property, Plant & Equipment	76.33M	74.87M	94.65M	142.05M	188.31M	164.82M	151.66M	153.18M	369M	370.1M
Fixed Asset Turnover	2.90x	2.07x	3.60x	3.83x	3.34x	2.11x	2.89x	4.49x	2.97x	3.05x
Goodwill	7.82M	7.82M	7.82M	7.82M	7.82M	7.82M	7.82M	7.82M	203.03M	203.03M
Intangible Assets	0	0	0	0	0	0	0	0	179.98M	163.99M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	44K	49K	1.31M	1.4M	1.21M	1.04M	1.6M	9.53M	8.52M
Total Assets+	177.56M	165.33M	266.46M	584.74M	834.96M	815.59M	982.08M	1.12B	1.52B	1.74B
Asset Turnover	1.25x	0.94x	1.28x	0.93x	0.75x	0.43x	0.45x	0.62x	0.72x	0.65x
Asset Growth %	-	-0.07%	0.61%	1.19%	0.43%	-0.02%	0.2%	0.14%	0.36%	0.14%
Total Current Liabilities+	19.63M	24.13M	52.87M	74.62M	91.13M	48.91M	92.57M	116.65M	175.66M	178.82M
Accounts Payable	8.85M	14M	35.08M	42.05M	40.96M	20.16M	42.82M	47.78M	71.84M	72M
Days Payables Outstanding	20.57	40.81	56.87	47.09	37.98	31.06	49.28	39.11	37.97	37.9
Short-Term Debt	2.65M	2.57M	7.24M	7.35M	0	8.07M	0	0	0	0
Deferred Revenue (Current)	1000K	565K	765K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	4.69M	7.41M	2.19M	8.92M	600K	13.07M	269K	576K	20.81M	0
Current Ratio	4.76x	3.42x	3.10x	3.68x	4.55x	8.69x	5.60x	5.61x	3.17x	4.33x
Quick Ratio	2.54x	1.85x	1.88x	2.34x	3.31x	6.90x	4.31x	4.23x	2.00x	3.06x
Cash Conversion Cycle	134.27	145.67	137.66	126.62	118.19	149.84	162.86	166.22	139.04	143.39
Total Non-Current Liabilities+	251.09M	244.51M	249.8M	147.79M	227.44M	215.91M	294.47M	291.8M	282.13M	296.32M
Long-Term Debt	250.56M	242.25M	241.44M	0	0	0	0	0	0	0
Capital Lease Obligations	0	2.06M	7.95M	8.74M	24.19M	20.06M	23.46M	24.81M	28.47M	30.61M
Deferred Tax Liabilities	64K	196K	416K	139.05M	1.35M	786K	1.17M	1.97M	3.59M	2.87M
Other Non-Current Liabilities	474K	0	0	138.01M	201.9M	195.06M	269.84M	265.02M	250.07M	262.85M
Total Liabilities	270.73M	268.65M	302.67M	222.42M	318.57M	264.82M	387.05M	408.45M	457.79M	475.15M
Total Debt+	253.2M	248.02M	256.62M	16.09M	37.66M	28.13M	33.21M	35.52M	39.97M	41.72M
Net Debt	240.68M	239.33M	249.04M	-54.75M	-164.94M	-260.53M	-268.46M	-309.01M	-93.82M	-301.13M
Debt / Equity	-	-	-	0.03x	0.07x	0.05x	0.06x	0.05x	0.04x	0.03x
Debt / EBITDA	4.03x	7.79x	2.29x	0.08x	0.17x	0.25x	0.30x	0.17x	0.12x	0.12x
Net Debt / EBITDA	3.83x	7.51x	2.22x	-0.26x	-0.74x	-2.36x	-2.40x	-1.48x	-0.28x	-0.86x
Interest Coverage	1.93x	0.52x	4.28x	47.73x	120.18x	62.15x	66.93x	142.30x	25.83x	75.74x
Total Equity+	-93.17M	-103.32M	-36.22M	547M	516.39M	550.77M	595.03M	710.45M	1.06B	1.26B
Equity Growth %	-	-0.11%	0.65%	16.1%	-0.06%	0.07%	0.08%	0.19%	0.5%	0.19%
Book Value per Share	-2552.52	-9.63	-1.69	16.73	6.85	7.30	7.82	9.31	13.40	15.82
Total Shareholders' Equity	-93.17M	-103.32M	-36.22M	362.33M	327.47M	352.97M	468.64M	571.92M	865.52M	1.07B
Common Stock	0	0	0	377K	472K	477K	590K	609K	654K	681K
Retained Earnings	0	0	0	51.68M	132.99M	150.09M	178.45M	261.76M	400.68M	552.13M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-191K	-475K	82K	-820K	-452K	330K	8K	-984K	-826K	-2.49M
Minority Interest	0	0	0	184.67M	188.93M	197.8M	126.39M	138.53M	199.25M	193.06M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	45.93M	23.98M	34.71M	167.18M	209.63M	143.38M	63.76M	117.88M	340.28M	316.11M
Operating CF Margin %	0.21%	0.15%	0.1%	0.31%	0.33%	0.41%	0.15%	0.17%	0.31%	0.28%
Operating CF Growth %	-	-0.48%	0.45%	3.82%	0.25%	-0.32%	-0.56%	0.85%	1.89%	-0.07%
Net Income	21.22M	-8.18M	66.55M	150.28M	156.3M	59.22M	67.47M	145.12M	169.17M	232.76M
Depreciation & Amortization	20.58M	21.24M	23.27M	30.15M	38.85M	40.52M	36.31M	34.12M	65.05M	60.44M
Stock-Based Compensation	359K	361K	361K	4.7M	7M	8.6M	8.62M	10.63M	18.11M	22.89M
Deferred Taxes	64K	132K	220K	15.2M	25.4M	6.95M	4.83M	25.3M	17.34M	19.77M
Other Non-Cash Items	3.27M	1.97M	3.08M	6.92M	-11.36M	-10.78M	-8.01M	-7.84M	65.35M	17.43M
Working Capital Changes	432K	8.45M	-58.78M	-40.08M	-6.56M	38.88M	-45.45M	-89.45M	5.27M	-37.18M
Change in Receivables	12.83M	509K	-50.09M	-8.11M	4.2M	44.83M	-45.49M	-49.35M	-11.86M	13.05M
Change in Inventory	10.56M	4.13M	-28.28M	-38.23M	-17.59M	18.2M	-36.08M	-44.89M	41.92M	3.84M
Change in Payables	-18.7M	5.01M	19.5M	7.65M	-607K	-19.43M	22.28M	5.8M	8.71M	675K
Cash from Investing+	-23.42M	-17.36M	-30.68M	-68.15M	-55.95M	-18.15M	-11.63M	-25.54M	-654.79M	-35.39M
Capital Expenditures	-25.28M	-21.72M	-32.08M	-70.05M	-59.7M	-24.49M	-13.94M	-28.29M	-43.98M	0
CapEx % of Revenue	0.11%	0.14%	0.09%	0.13%	0.1%	0.07%	0.03%	0.04%	0.04%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.86M	4.36M	1.4M	1.9M	3.75M	0	2.31M	0	5.37M	-35.39M
Cash from Financing+	-22.78M	-10.17M	-5.31M	-35M	-21.67M	-40.21M	-39.39M	-47.38M	103.28M	-70.14M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-12.23M	-2.06M	0	-31.85M	-4.24M	-17.14M	-21.16M	-26.72M	-30.12M	-33.68M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-19K	0	0	-608.37M	-8.39M	-16.3M	-9.74M	-10.04M	-23.58M	-19.25M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	20.65M	2.25M	2.63M	97.13M	149.93M	118.89M	49.82M	89.59M	296.3M	276.94M
FCF Margin %	0.09%	0.01%	0.01%	0.18%	0.24%	0.34%	0.11%	0.13%	0.27%	0.25%
FCF Growth %	-	-0.89%	0.16%	36%	0.54%	-0.21%	-0.58%	0.8%	2.31%	-0.07%
FCF per Share	565.64	0.21	0.12	2.97	1.99	1.57	0.65	1.17	3.73	3.47
FCF Conversion (FCF/Net Income)	2.16x	-2.93x	0.52x	2.56x	2.45x	4.16x	1.29x	1.07x	2.01x	1.70x
Interest Paid	21.39M	19.95M	0	0	0	0	959K	1.06M	5.63M	2.7M
Taxes Paid	370K	583K	0	0	0	0	4.54M	5.5M	26M	24.8M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-	25.58%	16.1%	6.46%	8.66%	16.88%	19.06%	15.92%
Return on Invested Capital (ROIC)	21.46%	5.62%	38.21%	37.8%	32.56%	16.37%	18.34%	36.01%	28.89%	22.46%
Gross Margin	29.06%	19.23%	34.01%	40.11%	37.36%	32.02%	27.69%	35.22%	37.04%	38.63%
Net Margin	9.59%	-5.27%	19.5%	12.01%	13.62%	9.88%	11.31%	16.01%	15.42%	16.41%
Debt / Equity	-	-	-	0.03x	0.07x	0.05x	0.06x	0.05x	0.04x	0.03x
Interest Coverage	1.93x	0.52x	4.28x	47.73x	120.18x	62.15x	66.93x	142.30x	25.83x	75.74x
FCF Conversion	2.16x	-2.93x	0.52x	2.56x	2.45x	4.16x	1.29x	1.07x	2.01x	1.70x
Revenue Growth	-	-29.97%	120.06%	59.48%	15.49%	-44.53%	25.83%	56.95%	59.36%	3%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Product	290.5M	357.09M	206.8M	280.91M	452.62M	810.38M	852.26M
Product Growth	-	22.92%	-42.09%	35.83%	61.13%	79.04%	5.17%
Product and Service, Other	-	-	75.6M	96.05M	135.3M	172.95M	175.76M
Product and Service, Other Growth	-	-	-	27.06%	40.86%	27.83%	1.63%
Rental Revenue	133.42M	141.82M	66.17M	61.63M	100.45M	113.63M	101.78M
Rental Revenue Growth	-	6.29%	-53.34%	-6.86%	63.00%	13.12%	-10.42%
Product And Service Other	120.22M	129.51M	-	-	-	-	-
Product And Service Other Growth	-	7.73%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Cactus, Inc. (WHD) has a price-to-earnings (P/E) ratio of 19.0x. This is roughly in line with market averages.

Growth & Financials

Cactus, Inc. (WHD) reported $1.09B in revenue for fiscal year 2024. This represents a 392% increase from $221.4M in 2015.

Cactus, Inc. (WHD) grew revenue by 3.0% over the past year. Growth has been modest.

Yes, Cactus, Inc. (WHD) is profitable, generating $172.9M in net income for fiscal year 2024 (16.4% net margin).

Dividend & Returns

Yes, Cactus, Inc. (WHD) pays a dividend with a yield of 0.80%. This makes it attractive for income-focused investors.

Cactus, Inc. (WHD) has a return on equity (ROE) of 15.9%. This is reasonable for most industries.

Cactus, Inc. (WHD) generated $208.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.