(WHD) Cactus - Overview
Sector: Energy | Industry: Oil & Gas Equipment & Services | Exchange: NYSE (USA) | Market Cap: 4.322m USD | Total Return: 42.2% in 12m
Avg Turnover: 41.5M
EPS Trend: -24.1%
Qual. Beats: 0
Rev. Trend: 60.9%
Qual. Beats: 3
Warnings
Fakeout Below Avwap Earnings
Tailwinds
No distinct edge detected
Cactus, Inc. (WHD) is a Houston-based provider of engineered pressure control systems and spoolable pipe technologies for the global energy industry. The company operates through two primary segments: Pressure Control, which provides wellheads and completion equipment under the Cactus Wellhead brand, and Spoolable Technologies, which manufactures flexible piping under the FlexSteel brand. Its operations span the drilling, completion, and production phases of onshore unconventional oil and gas wells.
The company utilizes a vertically integrated business model, combining internal manufacturing with a network of service centers to provide installation and maintenance near active shale basins. In the Oil & Gas Equipment & Services sector, wellhead providers often face high cyclicality tied to North American rig counts and hydraulic fracturing activity. Spoolable pipe technology serves as a corrosion-resistant alternative to traditional steel, reducing long-term maintenance costs for midstream and gathering infrastructure.
Investors can further analyze the company’s capital allocation and valuation metrics on ValueRay. Cactus, Inc. maintains a geographical footprint across the United States, Australia, Canada, and the Middle East, offering repair and refurbishment services to extend the lifecycle of its pressure control assets.
- Permian Basin rig count fluctuations dictate demand for pressure control equipment
- Adoption of FlexSteel spoolable pipe increases high-margin midstream revenue capture
- Steel and raw material price volatility impacts manufacturing cost structures
- Oil and gas operator capital expenditure budgets drive wellhead rental utilization
- Expansion into Middle Eastern markets diversifies revenue away from North America
| Net Income: 73.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA -0.61 > 1.0 |
| NWC/Revenue: 61.02% < 20% (prev 56.52%; Δ 4.50% < -1%) |
| CFO/TA 0.14 > 3% & CFO 342.7m > Net Income 73.2m |
| Net Debt (-236.4m) to EBITDA (324.2m): -0.73 < 3 |
| Current Ratio: 2.61 > 1.5 & < 3 |
| Outstanding Shares: last quarter (69.0m) vs 12m ago 0.53% < -2% |
| Gross Margin: 56.14% > 18% (prev 0.37%; Δ 5.58k% > 0.5%) |
| Asset Turnover: 56.16% > 50% (prev 64.22%; Δ -8.05% > 0%) |
| Interest Coverage Ratio: 55.01 > 6 (EBITDA TTM 324.2m / Interest Expense TTM 4.35m) |
| A: 0.29 (Total Current Assets 1.18b - Total Current Liabilities 451.1m) / Total Assets 2.46b |
| B: 0.25 (Retained Earnings 621.9m / Total Assets 2.46b) |
| C: 0.11 (EBIT TTM 239.2m / Avg Total Assets 2.11b) |
| D: 0.76 (Book Value of Equity 620.8m / Total Liabilities 811.8m) |
| Altman-Z'' = 4.32 = AA |
| DSRI: 2.00 (Receivables 460.0m/219.7m, Revenue 1.19b/1.14b) |
| GMI: 0.67 (GM 56.14% / 37.49%) |
| AQI: 1.04 (AQ_t 0.35 / AQ_t-1 0.33) |
| SGI: 1.04 (Revenue 1.19b / 1.14b) |
| TATA: -0.11 (NI 73.2m - CFO 342.7m) / TA 2.46b) |
| Beneish M = -2.56 (Cap -4..+1) = A |
As of May 29, 2026, the stock is trading at USD 60.64 with a total of 657,419 shares traded.
Over the past week, the price has changed by -6.24%,
over one month by +4.24%,
over three months by +8.21% and
over the past year by +42.15%.
Cactus has received a consensus analysts rating of 3.63. Therefore, it is recommended to hold WHD.
- StrongBuy: 2
- Buy: 2
- Hold: 3
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 63.2 | 4.3% |
P/E Trailing = 58.1869
P/E Forward = 48.0769
P/S = 3.6409
P/B = 3.6307
Revenue TTM = 1.19b USD
EBIT TTM = 239.2m USD
EBITDA TTM = 324.2m USD
Long Term Debt = 9.67m USD (from longTermDebtTotal, last fiscal year)
Short Term Debt = 15.6m USD (from shortTermDebt, last quarter)
Debt = 55.2m USD (from shortLongTermDebtTotal, last quarter) (leases 55.2m already included)
Net Debt = -236.4m USD (calculated: Debt 55.2m - CCE 291.6m)
Enterprise Value = 4.09b USD (4.32b + Debt 55.2m - CCE 291.6m)
Interest Coverage Ratio = 55.01 (Ebit TTM 239.2m / Interest Expense TTM 4.35m)
EV/FCF = 13.42x (Enterprise Value 4.09b / FCF TTM 304.4m)
FCF Yield = 7.45% (FCF TTM 304.4m / Enterprise Value 4.09b)
FCF Margin = 25.65% (FCF TTM 304.4m / Revenue TTM 1.19b)
Net Margin = 6.17% (Net Income TTM 73.2m / Revenue TTM 1.19b)
Gross Margin = 56.14% ((Revenue TTM 1.19b - Cost of Revenue TTM 520.7m) / Revenue TTM)
Gross Margin QoQ = 46.57% (prev 92.79%)
Tobins Q-Ratio = 1.66 (Enterprise Value 4.09b / Total Assets 2.46b)
Interest Expense / Debt = 7.87% (Interest Expense 4.35m / Debt 55.2m)
Taxrate = 19.11% (9.50m / 49.7m)
NOPAT = 193.5m (EBIT 239.2m * (1 - 19.11%))
Current Ratio = 2.61 (Total Current Assets 1.18b / Total Current Liabilities 451.1m)
Debt / Equity = 0.05 (Debt 55.2m / totalStockholderEquity, last quarter 1.19b)
Debt / EBITDA = -0.73 (Net Debt -236.4m / EBITDA 324.2m)
Debt / FCF = -0.78 (Net Debt -236.4m / FCF TTM 304.4m)
Total Stockholder Equity = 1.19b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.46% (Net Income 73.2m / Total Assets 2.46b)
RoE = 6.16% (Net Income TTM 73.2m / Total Stockholder Equity 1.19b)
RoCE = 19.96% (EBIT 239.2m / Capital Employed (Equity 1.19b + L.T.Debt 9.67m))
RoIC = 9.66% (NOPAT 193.5m / Invested Capital 2.00b)
WACC = 11.75% (E(4.32b)/V(4.38b) * Re(11.82%) + D(55.2m)/V(4.38b) * Rd(7.87%) * (1-Tc(0.19)))
Discount Rate = 11.82% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -15.56 | Cagr: -6.27%
[DCF] Terminal Value 67.79% ; FCFF base≈274.6m ; Y1≈314.8m ; Y5≈463.3m
[DCF] Fair Price = 66.00 (EV 4.35b - Net Debt -236.4m = Equity 4.58b / Shares 69.4m; r=11.75% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -24.11 | EPS CAGR: -1.97% | SUE: 0.33 | # QB: 0
Revenue Correlation: 60.91 | Revenue CAGR: 4.92% | SUE: 1.24 | # QB: 3
EPS current Quarter (2026-06-30): EPS=0.65 | Chg30d=-8.33% | Revisions=-33% | Analysts=6
EPS next Quarter (2026-09-30): EPS=0.71 | Chg30d=-7.22% | Revisions=+0% | Analysts=6
EPS current Year (2026-12-31): EPS=2.99 | Chg30d=+0.81% | Revisions=-11% | GrowthEPS=+11.1% | GrowthRev=+46.6%
EPS next Year (2027-12-31): EPS=3.45 | Chg30d=+1.16% | Revisions=+25% | GrowthEPS=+15.4% | GrowthRev=+6.9%
[Analyst] Revisions Ratio: -33%