Cactus, Inc. Class A Common Sto (WHD) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Cactus, Inc. Class A Common Sto

NYSE•Energy•Oil & Gas Equipment & Services

$62.03-0.19(<0.01%)After hours

Market Cap

$4.35B

P/E

23.6x

P/S

2.8x

P/B

3.3x

Cactus, Inc., together with its subsidiaries, designs, manufactures, sells, and rents engineered pressure control and spoolable pipe technologies in the United States, Australia, Canada, the Middle East, and internationally. The company operates in two segments: Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellheads and pressure control equipment under the Cactus Wellhead brand through its service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases. This segment also offers field services for its products and rental items to assist with the installation, maintenance, and handling of the equipment. The Spoolable Technologies segment designs, manufactures, and sells spoolable pipes and associated end fittings under the FlexSteel brand. Its products are primarily used in production, gathering, and takeaway pipelines to transport oil, gas, and other liquids. This segment also provides field services and rental items to assist with installation through service centers and pipe yards, as well as equipment and services. The company also offers repair and refurbishment services for pressure control equipment. Cactus, Inc. was founded in 2011 and is headquartered in Houston, Texas.

How this company scores

GoodMetricSide Score: 77/100

Strongest: Cash & Earnings Quality (24/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability18/25

Growth20/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality24/25

Strengths

Growing revenueRising free cash flowStrong marginsInterest easily covered

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 23.6x5y range 16.0x – 55.6x

Currently near its 20-quarter median.

P/S · 2.8x5y range 2.5x – 6.5x

Currently near its 20-quarter median.

P/B · 3.3x5y range 2.3x – 6.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 20.6% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Share Dilution

Watch

Shares outstanding rose 3.6% — mild dilution. Compare to earnings growth to assess the net per-share impact.

Price & Volume

Market Cap $4.35B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.53B
Q. Revenue: $430.89M
TTM EBITDA: $403.35M
TTM Op. Income: $286.98M
Q. Op. Income: $94.05M
TTM Net Income: $183.90M
Q. Net Income: $62.16M
EPS: $0.89
Shares Out.: $69.90M

$1.53B in TTM revenue grew 40.4% YoY, reaching $430.89M last quarter. TTM EBITDA of $403.35M and TTM operating income of $286.98M show growth is flowing through to the bottom line. TTM net income of $183.90M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 36.4%
EBITDA Margin: 28.0%
Op. Margin: 21.8%
Net Margin: 14.4%

Op. margin of 21.8% is down 1.4% YoY — costs are rising relative to revenue. Net margin at 14.4% and gross margin of 36.4% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 23.6x
P/S Ratio: 2.8x
P/B Ratio: 3.3x

At 23.6x P/E, the stock trades within typical market levels. P/S of 2.8x and P/B of 3.3x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 4 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.58B
Cash: $354.22M
Long-Term Debt: N/A
Book Value: $1.31B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $18.42M
TTM Free Cash Flow: $269.50M
FCF Margin: 17.6%
FCF / Net Income: 1.5

TTM FCF of $269.50M on $18.42M in operating cash flow. The FCF / Net Income ratio of 1.5x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 29% — a weakening trend.