Cactus, Inc. income statement WHD

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Cactus, Inc. reported revenue of $1.1 billion, down 4.5% from the year before. Net income was $166.0 million, a profit margin of 15.4%. Operating income came to $250.5 million, an operating margin of 23.2%. Over the twelve months ended Sep 30, 2026, revenue was $1.5 billion and net income was $183.9 million. Across the 8 fiscal years shown, revenue grew from $544.1 million in fiscal 2018 to $1.1 billion in fiscal 2025, about 10.3% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

Line	FY 2026 Sep 30, 2026	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018
Revenue	1,530 +40.4%	1,079 -4.5%	1,130 +3.0%	1,097 +59.4%	688 +57.0%	439 +25.8%	349 -44.5%	628 +15.5%	544
Cost of revenue	1,017	680 -2.0%	693	—	—	—	—	—	—
Gross profit	513	399 -8.5%	436	—	—	—	—	—	—
Selling, general and administrative	226 +53.9%	149 +14.1%	130 +2.7%	127 +87.7%	68 +47.1%	46 +15.9%	40 -23.1%	52 +27.5%	41
Operating expenses	226	149	—	—	—	—	—	—	—
Operating income	287 +9.9%	251 -13.5%	290 +9.6%	264 +51.3%	175 +131.7%	75 +7.7%	70 -61.8%	183 +3.1%	178
Pretax income	291 +6.0%	261 -12.9%	299 +14.1%	262 +48.6%	177 +134.9%	75 +7.1%	70 -62.7%	188 +10.9%	170
Income tax	67 +5.0%	59 -11.3%	67 +39.9%	48 +51.2%	31 +309.5%	8 -30.0%	11 -65.7%	32 +64.0%	20
Net income	184 +6.4%	166 -10.5%	185 +9.6%	169 +53.5%	110 +122.2%	50 +44.0%	34 -59.8%	86 +65.6%	52
Basic EPS	—	—	—	—	—	—	—	—	1.60
Diluted EPS	—	—	—	—	—	—	—	1.88	—
Other measures
Depreciation and amortization	116 +84.5%	64 +5.8%	60 -7.1%	65 +90.6%	34 -6.0%	36 -10.4%	41 +4.3%	39 +28.9%	30
EBITDA	403 +24.4%	314 -10.2%	350 +6.3%	329 +57.7%	209 +86.9%	112 +1.1%	111 -50.2%	222 +6.8%	208
Interest coverage	—	—	—	—	—	—	—	—	49.43x
Margins
Gross margin	33.51%	37.02%	38.63%	—	—	—	—	—	—
Operating margin	18.76%	23.21%	25.63%	24.10%	25.39%	17.20%	20.09%	29.14%	32.66%
Pretax margin	19.02%	24.16%	26.49%	23.92%	25.65%	17.13%	20.14%	29.97%	31.21%
Profit margin	12.02%	15.39%	16.41%	15.42%	16.01%	11.31%	9.88%	13.62%	9.50%
EBITDA margin	26.36%	29.14%	30.98%	30.03%	30.34%	25.48%	31.72%	35.33%	38.20%
Effective tax rate	23.04%	22.64%	22.23%	18.12%	17.80%	10.21%	15.63%	17.00%	11.50%

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.

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Company profile

Industry: Oil & Gas Field Machinery & Equipment (SIC 3533)
Listed as: WHD (NYSE)
Fiscal year ends: December 31
Headquarters: Houston, TX
SEC filer status: Large accelerated filer
SEC CIK: 1699136

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.