Cactus Inc Class A (WHD) financials
Cactus revenue and earnings by year
Cactus's revenue was $1.08 billion in the fiscal year to December 31, 2025, down 4.5% from the year before. Net income was $166 million, 15.4% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 24.1% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.08 | 1.13 | 1.10 | 0.69 | 0.44 | 0.35 | 0.63 | 0.54 | 0.34 | 0.16 |
| Revenue growth | -4.5% | 3.0% | 59.4% | 57.0% | 25.8% | -44.5% | 15.5% | 59.5% | 120.1% | — |
| Gross profit | 0.40 | 0.44 | 0.41 | 0.24 | 0.12 | 0.11 | 0.23 | 0.22 | 0.12 | 0.03 |
| Gross margin | 37.0% | 38.6% | 37.0% | 35.2% | 27.7% | 32.0% | 37.4% | 40.1% | 34.0% | 19.2% |
| Operating income | 0.25 | 0.31 | 0.28 | 0.17 | 0.08 | 0.07 | 0.18 | 0.18 | 0.09 | 0.01 |
| Operating margin | 23.2% | 27.1% | 25.5% | 25.4% | 17.2% | 20.1% | 29.1% | 32.7% | 26.0% | 6.8% |
| Net income | 0.17 | 0.19 | 0.17 | 0.11 | 0.05 | 0.03 | 0.09 | 0.05 | 0.00 | 0.00 |
| Net margin | 15.4% | 16.4% | 15.4% | 16.0% | 11.3% | 9.9% | 13.6% | 9.5% | 0.0% | 0.0% |
| Diluted EPS | $2.41 | $2.76 | $2.56 | — | — | — | — | $1.56 | $0.00 | — |
| Free cash flow | 0.23 | 0.28 | 0.30 | 0.09 | 0.05 | 0.13 | 0.15 | 0.10 | 0.00 | 0.01 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open WHD in Markets.
How Cactus makes money
Revenue by segment in the quarter to March 31, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Pressure Control | $300M | 77.0% |
| Spoolable Technologies | $89.9M | 23.0% |
See also: WHD valuation and P/E history · WHD returns
No forecast, no recommendation. This page describes Cactus Inc Class A from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.