Cactus, Inc. (WHD)
NYSEEnergyOil & Gas Equipment & ServicesSnapshot 2026-09-04
$70.16-2.07%
Close 2026-09-04 · 1-day change
NYSEEnergyOil & Gas Equipment & ServicesSnapshot 2026-09-04
QuarterlyIQ Insights · WHD
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within energy on a research-validated quality screen. As of 2026-09-04.
The screen ranks WHD against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 3 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Energy names rated neutral grew net income 57% of the time over the next year (vs 56% for the rest of the cohort, n=2314).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Continue to grow the Spoolable Technologies segment through increased bookings, shipments, and market expansion domestically and internationally.
Stated as a priority in 3 of last 3 quarters. Spoolable Technologies revenues grew from $84.8 million in 2025-Q4 to $89.9 million in 2026-Q1 (+6.8%) and then to $105.5 million in 2026-Q2 (+17.4%). Management has consistently emphasized strengthening bookings and shipments, and the financials show delivering growth and momentum in this segment.
“Order and shipment momentum continued in our Spoolable Technologies segment, and the acceleration of initial deliveries from previously discussed Latin America orders into the second quarter contribu…”
“I am particularly pleased with the strong performance of the Spoolable Technologies segment in the quarter, as both revenues and margins exceeded expectations following a strong close to the quarter…”
“Spoolable Technologies revenues declined in line with expectations in the seasonally slow quarter.”
Continue capital expenditure discipline with full-year 2026 capex expected between $55 and $65 million, including investments to support Spoolable Technologies growth.
Stated as a priority in 3 of last 3 quarters. Capital expenditure guidance was initially $40-$50 million for 2026 but was increased to $55-$65 million by 2026-Q2, reflecting investments in Spoolable Technologies manufacturing capacity. Actual net capex was $15.6 million in 2026-Q2. Management is maintaining disciplined capex within this updated range, showing delivering with some upward revision.
Continue to increase the quarterly dividend, with a 7% increase approved in July 2026 to $0.15 per Class A share.
Stated as a priority in 3 of last 3 quarters. The quarterly dividend was $0.14 per share in 2025-Q4 and 2026-Q1, then increased by 7% to $0.15 per share in 2026-Q2. Dividend payments were $11.7 million in 2026-Q1 and $11.2 million in 2026-Q2. Management is delivering consistent dividend increases as committed.
Integrate and grow the Cactus International business to diversify earnings geographically and expand backlog.
Stated as a priority in 3 of last 3 quarters. The Cactus International acquisition closed on January 1, 2026, contributing to a 68.2% sequential increase in Pressure Control revenue from $179.8 million in 2025-Q4 to $301.2 million in 2026-Q1. Backlog related to Cactus International was $537.5 million in 2026-Q1 and $455.8 million in 2026-Q2. Management is integrating and leveraging the acquisition for geographic diversification with mixed backlog trajectory.
Focus on operational efficiency improvements and cost control to improve margins and reduce expenses.
Stated as a priority in 3 of last 3 quarters. Operating income margin improved from 12.7% in 2026-Q1 to 18.6% in 2026-Q2, reflecting higher operating leverage and tariff refunds. Corporate and Other expenses decreased by $4.9 million sequentially in 2026-Q2 due to lower transaction and integration expenses. Management is delivering operational efficiency and cost control improvements with positive margin trajectory.
Over the trailing year it converted 2.11x of net income into operating cash flow. Historically, Energy names rated neutral grew net income 40% of the time over the next year (vs 46% for the rest of the cohort, n=1319).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, long-term interest rates, real (inflation-adjusted) rates, Fed net liquidity (low R² over the window).
12 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Energy names rated neutral grew net income 58% of the time over the next year (vs 56% for the rest of the cohort, n=807).
Not investment advice. As of 2026-09-04.
“The Company is increasing its expected capital expenditure range to $55 to $65 million.”
“For the full year 2026, the Company still expects net capital expenditures to be in the range of $40 to $50 million.”
“For the full year 2026, the Company expects net capital expenditures to be in the range of $40 to $50 million inclusive of capital for the Cactus International business.”
“Board approved a 7% increase in the dividend to $0.15 per Class A share per quarter.”
“Board approved a quarterly cash dividend of $0.14 per share of Class A common stock.”
“Board approved a quarterly cash dividend of $0.14 per share of Class A common stock.”
“Cactus International business results are included in the Pressure Control segment. Backlog is primarily related to operations in our Cactus International business.”
“Beginning this quarter, results of the Cactus International business are included in the Pressure Control segment.”
“On January 1, 2026, we closed on the acquisition of a majority interest in Baker Hughes's Surface Pressure Control business, supporting a multi-year journey to geographically diversify our earnings b…”
“Operating income margin increased to 18.6% due to higher operating leverage and partial receipt of tariff-related refunds; Corporate and Other expenses decreased $4.9 million sequentially.”
“Operating income margin decreased due to purchase price accounting adjustments; Corporate and Other expenses increased due to higher transaction and integration expenses.”
“Operating income margin increased due to cost reduction and recovery initiatives and improved utilization of rental equipment.”