WHDNYSE—66

Cactus, Inc.

Oil Related Services and EquipmentVerified

Score breakdown

Profitability+27Sentiment+30Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile75Conclusion95AI synthesis40Observations47

Capital Structure and Liquidity Cactus, Inc. exhibits a strong liquidity position with a current ratio of 5.81, indicating a robust ability to meet short-term obligations [doc:0001699136]. The company's liquidity risk is assessed as low, supported by $123.57 million in cash and equivalents [doc:0001699136]. The debt-to-equity ratio is 0.0, reflecting a conservative capital structure with no debt obligations [doc:0001699136]. ### Profitability and Returns The company's profitability is evident with a return on equity (ROE) of 13.54% and a return on assets (ROA) of 8.87% [doc:0001699136]. These metrics outperform the industry median for Energy Equipment & Services, indicating efficient use of equity and assets to generate profits [doc:0001699136]. ### Segments and Geographic Exposure Cactus, Inc. operates through two segments: Pressure Control and Spoolable Technologies. The Pressure Control segment is focused on onshore unconventional oil and gas wells, while the Spoolable Technologies segment provides spoolable pipe for oil and gas transportation [doc:0001699136]. The company's geographic exposure is primarily domestic, with revenue concentrated in the United States [doc:0001699136]. ### Growth Trajectory The company's revenue for FY2025 was $1.08 billion, with operating income of $250.50 million and net income of $166.01 million [doc:0001699136]. The outlook for the next fiscal year indicates continued growth, supported by strong demand for wellhead and spoolable pipe products [doc:0001699136]. ### Risk Factors The company faces medium dilution risk, with source documents mentioning potential dilution or offering risks [doc:0001699136]. The risk assessment highlights key flags related to dilution and offering risks, which could impact shareholder value [doc:0001699136]. ### Recent Events Recent filings and transcripts indicate the company's focus on maintaining a strong liquidity position and managing capital expenditures [doc:0001699136]. The company has also been active in repurchasing shares, which could signal confidence in its future performance [doc:0001699136].

Profile

CompanyCactus, Inc.

ExchangeNYSE

TickerWHD

CIK0001699136

SICOil & Gas Field Machinery & Equipment

SectorEnergy

BusinessEnergy - Fossil Fuels

Industry groupEnergy - Fossil Fuels

IndustryOil Related Services and Equipment

AI analysis

Business. Cactus, Inc. operates in the Energy - Fossil Fuels sector, providing wellhead and pressure control equipment under the Cactus Wellhead brand and spoolable pipe under the FlexSteel brand [doc:0001699136].

Classification. Cactus, Inc. is classified in the Energy - Fossil Fuels business sector with a confidence level of 0.92 [doc:0001699136].

### Capital Structure and Liquidity Cactus, Inc. exhibits a strong liquidity position with a current ratio of 5.81, indicating a robust ability to meet short-term obligations [doc:0001699136]. The company's liquidity risk is assessed as low, supported by $123.57 million in cash and equivalents [doc:0001699136]. The debt-to-equity ratio is 0.0, reflecting a conservative capital structure with no debt obligations [doc:0001699136]. ### Profitability and Returns The company's profitability is evident with a return on equity (ROE) of 13.54% and a return on assets (ROA) of 8.87% [doc:0001699136]. These metrics outperform the industry median for Energy Equipment & Services, indicating efficient use of equity and assets to generate profits [doc:0001699136]. ### Segments and Geographic Exposure Cactus, Inc. operates through two segments: Pressure Control and Spoolable Technologies. The Pressure Control segment is focused on onshore unconventional oil and gas wells, while the Spoolable Technologies segment provides spoolable pipe for oil and gas transportation [doc:0001699136]. The company's geographic exposure is primarily domestic, with revenue concentrated in the United States [doc:0001699136]. ### Growth Trajectory The company's revenue for FY2025 was $1.08 billion, with operating income of $250.50 million and net income of $166.01 million [doc:0001699136]. The outlook for the next fiscal year indicates continued growth, supported by strong demand for wellhead and spoolable pipe products [doc:0001699136]. ### Risk Factors The company faces medium dilution risk, with source documents mentioning potential dilution or offering risks [doc:0001699136]. The risk assessment highlights key flags related to dilution and offering risks, which could impact shareholder value [doc:0001699136]. ### Recent Events Recent filings and transcripts indicate the company's focus on maintaining a strong liquidity position and managing capital expenditures [doc:0001699136]. The company has also been active in repurchasing shares, which could signal confidence in its future performance [doc:0001699136].

Key takeaways

Cactus, Inc. has a strong liquidity position with a current ratio of 5.81 and no debt obligations.
The company's profitability is robust, with ROE and ROA significantly above industry medians.
Revenue is concentrated in the United States, with operations in two key segments: Pressure Control and Spoolable Technologies.
The company faces medium dilution risk, which could impact shareholder value.
Recent financial activities, including share repurchases, indicate confidence in future performance.
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## RATIONALES
```json

Financial snapshot

PeriodFY2025

CurrencyUSD

Revenue$1.08B

Gross profit—

Operating income$250.5M

Net income$166.0M

R&D—

SG&A—

D&A$63.9M

SBC$24.5M

Operating cash flow$258.4M

CapEx—

Free cash flow—

Total assets$1.87B

Total liabilities$438.6M

Total equity$1.23B

Cash & equivalents$123.6M

Long-term debt—

Annual history (last 5)

PeriodRevenueOp IncomeNet IncomeFCF

FY2025$1.08B$250.5M$166.0M—

FY2024$1.13B$289.6M$185.4M—

FY2025$1.13B$289.6M$185.4M—

FY2023$1.10B$264.4M$169.2M—

FY2024$1.10B$264.4M$169.2M—

PeriodGross %Op %Net %FCF %

FY2025————

FY2024————

FY2025————

FY2023————

FY2024————

PeriodAssetsEquityCashDebt

FY2025$1.87B$1.23B$123.6M—

FY2024$1.74B$1.07B$342.8M—

FY2025$1.74B$1.07B$342.8M—

FY2023$1.52B$865.5M$133.8M—

FY2024$1.52B$865.5M$133.8M—

PeriodOCFCapExFCFSBC

FY2025$258.4M——$24.5M

FY2024$316.1M——$22.9M

FY2025$316.1M——$22.9M

FY2023$340.3M——$18.1M

FY2024$340.3M——$18.1M

Quarterly history (last 4)

PeriodRevenueOp IncomeNet IncomeFCF

Q3 2025$817.8M$190.7M$126.2M—

Q2 2025$553.9M$129.4M$84.6M—

Q3 2025————

Q1 2025$280.3M$68.6M$44.2M—

PeriodGross %Op %Net %FCF %

Q3 2025————

Q2 2025————

Q3 2025————

Q1 2025————

PeriodAssetsEquityCashDebt

Q3 2025$1.86B$1.19B$445.6M—

Q2 2025$1.82B$1.15B$405.2M—

Q3 2025—$1.35B——

Q1 2025$1.77B$1.11B$347.7M—

PeriodOCFCapExFCFSBC

Q3 2025$186.1M——$18.5M

Q2 2025$124.4M——$12.4M

Q3 2025————

Q1 2025$41.5M——$6.1M

Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$1.08B

Net cash$123.6M

Current ratio5.8

Debt/Equity0.0

ROA8.9%

ROE13.5%

Cash conversion1.6%

CapEx/Revenue—

SBC/Revenue2.3%

Asset intensity—

Dilution ratio—

Risk assessment

Dilution riskMedium

Liquidity riskLow

Source documents mention dilution or offering risk.

Industry benchmarks

Activity: Energy - Fossil Fuels · cohort 87 companies

MetricWHDActivity

Op margin23.2%23.2% medp25 15.8% · p75 28.2%above median

Net margin15.4%5.8% medp25 -2.3% · p75 11.7%top quartile

Gross margin—25.7% medp25 17.0% · p75 43.1%

R&D / revenue—1.3% medp25 1.0% · p75 1.6%

CapEx / revenue—-7.8% medp25 -17.3% · p75 -1.5%

Debt / equity0.0%58.5% medp25 38.7% · p75 89.0%bottom quartile

Observations

IR observations

market data ESG controversies score100.0

market data ESG governance pillar29.6

market data ESG social pillar33.5

market data insider trading score1.0

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

SEC filingstype companyfacts · CIK 0001699136 · 342 us-gaap concepts

data.sec.gov/CIK0001699136.json

2026-05-01 14:17 UTC#49ca6157

Source: analysis-pipeline (hybrid)Generated: 2026-05-01 14:19 UTCJob: ae7ea5a8