10x Insights
Loading account…
Companies / Industrials / Cactus, Inc.
WHD

Cactus, Inc.

IndustrialsIndustrial Machinery
Ticker WHDHOUSTON, TXFiscal year ends DecemberBook value per share $17.77Diluted shares 69.8M

Cactus Inc. (CACTUS, ticker symbol on NASDAQ) operates as a leading designer, manufacturer, and service provider of pressure control and spoolable pipe technologies for the oil and gas industry. The company maintains its corporate headquarters and website at www.CactusWHD.com. From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$1.08B
−4.5% year over year
Last 12 mo $1.36B
23.21%
−2.4 percentage points
Last 12 mo 18.65%
$201.64M
−13.4% year over year
Last 12 mo $200.09M
13.54%
−3.8 percentage points
Last 12 mo 13.17%
Cash & financing
$258.42M
−18.3% year over year
Last 12 mo $366.87M
$219.61M
−20.7% year over year
Last 12 mo $323.96M
0.01
Was 0.02× a year earlier
Last 12 mo 0.01
69.0M
−13.6% year over year
Last 12 mo 69.8M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Cactus, Inc. does

In the company’s own words

Cactus Inc. (CACTUS, ticker symbol on NASDAQ) operates as a leading designer, manufacturer, and service provider of pressure control and spoolable pipe technologies for the oil and gas industry. The company maintains its corporate headquarters and website at www.CactusWHD.com.

The company operates through two primary segments: Pressure Control and Spoolable Technologies. The Pressure Control segment, representing the majority of operations, designs and manufactures wellhead systems and production trees under the Cactus Wellhead brand, along with rental equipment for hydraulic fracturing operations. This segment generated 76 percent of total revenues in 2025 through product sales, with additional revenue from equipment rentals and field services. The Spoolable Technologies segment, acquired through the FlexSteel business merger in February 2023, manufactures spoolable pipe and associated fittings under the FlexSteel brand for production, gathering, and takeaway pipeline applications.

Cactus serves over 300 customers including private operators, publicly-traded independents, and major oil and gas companies operating across key U.S. producing basins as well as in Australia, Canada, the Middle East, and other international markets. The company employs over 1,500 people worldwide, with manufacturing and production facilities located in Bossier City, Louisiana; Baytown, Texas; Suzhou, China; and Hai Duong, Vietnam. Service centers and pipe yards operate throughout the United States, Canada, and Australia, with rental and service operations in the Middle East.

On January 1, 2026, Cactus acquired a 65 percent stake in Baker Hughes Pressure Control LLC through a joint venture arrangement, expanding its international footprint and surface pressure control capabilities. The company traces its origins to 2011 with the formation of Cactus Wellhead LLC and completed its initial public offering in February 2018. Cactus differentiates itself through technical expertise, equipment availability, safety records, and superior execution, competing against companies including Vault, SLB divisions, TechnipFMC, Baker Hughes, Mattr, and NOV. The company holds API licenses and certifications for manufacturing facilities and maintains quality management systems certified to API Q1 and ISO 9001:2015 standards.

Company details
Sector
Industrials
Industry
Industrial Machinery
Headquarters
HOUSTON, TX
Fiscal year end
December
CIK
1699136
SIC
3533

Financial performance, year by year

Fiscal 2018–2025 · USD
$-136.30M$272.61M$681.52M$1.09B$1.50B20182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Cactus, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

382
funds hold it
0 of 35
superinvestors hold it
$2.41B
held by funds, at market
65.7%
of shares held by funds

Largest fund holders · Cactus, Inc.’s weight in each

0.26%of fund net assets
iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.19%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
Disciplined Value Mid Cap Fund
JVMAX · John Hancock Funds III
0.42%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.11%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Cactus, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Cactus, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Cactus, Inc.'s last four quarterly filings that the numbers alone won't show?”
See how it works →All research tools with a subscription. Use your own AI account.