WHD (Cactus, Inc.) Stock Financials & Earnings | Market Cap Arena

WHD (Cactus, Inc.) Stock Financials & Earnings | Market Cap Arena

WHDCactus, Inc.

Mkt Cap$3B

Energy·Oil & Gas Equipment & Services·🇺🇸 United States·NYSE

Revenue (TTM)$1.1B

Net Income (TTM)$166M

EPS (TTM)$2.40

Free Cash Flow (TTM)$217M

Gross Margin54.6%

Op. Margin23.2%

Net Margin15.4%

FCF Margin20.1%

P/S Ratio (TTM)3.2x

P/E Ratio (TTM)21.1x

YoY Rev Growth-4.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$228M	$80M	$50M
Q2 23	$306M	$105M	$49M
Q3 23	$288M	$112M	$88M
Q4 23	$275M	$105M	$80M
Q1 24	$274M	$105M	$63M
Q2 24	$290M	$110M	$83M
Q3 24	$293M	$114M	$77M
Q4 24	$272M	$98M	$70M
Q1 25	$280M	$104M	$69M
Q2 25	$274M	$150M	$61M
Q3 25	$264M	$93M	$61M
Q4 25	$261M	$242M	$60M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	4.5x	26.4x
Q2 23	3.9x	26.9x
Q3 23	3.5x	23.1x
Q4 23	3.2x	20.7x
Q1 24	3.1x	21.2x
Q2 24	3.1x	18.4x
Q3 24	3.1x	18.6x
Q4 24	3.1x	18.9x
Q1 25	3.1x	18.3x
Q2 25	3.1x	19.3x
Q3 25	3.2x	20.2x
Q4 25	3.2x	21.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$60M	$45M
Q2 23	$108M	$100M
Q3 23	$80M	$70M
Q4 23	$92M	$81M
Q1 24	$86M	$78M
Q2 24	$78M	$68M
Q3 24	$85M	$76M
Q4 24	$67M	$54M
Q1 25	$42M	$31M
Q2 25	$83M	$71M
Q3 25	$62M	$52M
Q4 25	$70M	$63M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$16M
Q2 23	$8M
Q3 23	$10M
Q4 23	$11M
Q1 24	$8M
Q2 24	$9M
Q3 24	$10M
Q4 24	$12M
Q1 25	$10M
Q2 25	$12M
Q3 25	$10M
Q4 25	$6M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+56.6%	+55.5%
Q2 23	+79.7%	+104.2%
Q3 23	+56.0%	+50.4%
Q4 23	+46.4%	+39.4%
Q1 24	+20.0%	+18.4%
Q2 24	-5.0%	-19.3%
Q3 24	+1.8%	+8.1%
Q4 24	-1.0%	+3.7%
Q1 25	+2.3%	+0.1%
Q2 25	-5.8%	+2.4%
Q3 25	-10.0%	-6.3%
Q4 25	-4.0%	-0.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$4M	1.7%
Q2 23	$5M	1.7%
Q3 23	$4M	1.5%
Q4 23	$5M	1.7%
Q1 24	$4M	1.6%
Q2 24	$6M	2.0%
Q3 24	$6M	1.9%
Q4 24	$7M	2.6%
Q1 25	$6M	2.2%
Q2 25	$6M	2.3%
Q3 25	$6M	2.3%
Q4 25	-$18M	-7.1%

OpEx Breakdown

Quarter	SG&A
Q1 23	$30M
Q2 23	$38M
Q3 23	$30M
Q4 23	$25M
Q1 24	$29M
Q2 24	$27M
Q3 24	$37M
Q4 24	$28M
Q1 25	$35M
Q2 25	$39M
Q3 25	$32M

Revenue Segments

Quarter	Product	Product and Service, Other	Rental Revenue
Q1 23	$160M	$41M	$28M
Q2 23	$232M	$46M	$28M
Q3 23	$214M	$45M	$29M
Q4 23	$205M	$41M	$29M
Q1 24	$208M	$43M	$24M
Q2 24	$221M	$44M	$25M
Q3 24	$221M	$45M	$27M
Q4 24	$202M	$44M	$26M
Q1 25	$209M	$44M	$27M
Q2 25	$208M	$44M	$22M
Q3 25	$207M	$40M	$17M
Q4 25	$201M	$41M	$19M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$75M	$0	$75M
Q2 23	$64M	$0	$64M
Q3 23	$64M	$0	$64M
Q4 23	$134M	$0	$134M
Q1 24	$194M	$0	$194M
Q2 24	$247M	$0	$247M
Q3 24	$303M	$0	$303M
Q4 24	$343M	$0	$343M
Q1 25	$348M	$0	$348M
Q2 25	$405M	$0	$405M
Q3 25	$446M	$0	$446M
Q4 25	$495M	$0	$495M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	79M	+3.6%
Q2 23	65M	-17.9%
Q3 23	65M	+0.7%
Q4 23	80M	+21.9%
Q1 24	80M	-0.4%
Q2 24	67M	-16.3%
Q3 24	80M	+20.4%
Q4 24	80M	-0.3%
Q1 25	69M	-14.1%
Q2 25	69M	+0.1%
Q3 25	69M	+0.6%
Q4 25	70M	+0.5%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 15	—	—
FY 16	—	—
FY 17	$388K	880
FY 18	$453K	1K
FY 19	$571K	1K
FY 20	$528K	660
FY 21	$439K	1K
FY 22	$2M	350
FY 23	$686K	2K
FY 24	$706K	2K
FY 25	$719K	2K