Cactus, Inc. (WHD) Stock

Cactus, Inc. (WHD) is a Industrials stock trading at $55.12 (as of 2026-07-24), with a market capitalization of $3.48B and a trailing P/E of 20.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Cactus, Inc. designs, manufactures, sells, and rents wellhead systems and pressure control equipment, including product lines such as Cactus SafeDrill, SafeLink, SafeClamp, and SafeInject, along with related components. The company supports onshore unconventional oil and gas drilling, completion, and production and provides installation, maintenance, repair, refurbishment, and related field services in the United States, Australia, China, and the Kingdom of Saudi Arabia.

Understand Cactus, Inc.: how it makes money

Cactus, Inc. designs, manufactures, sells, and rents wellheads and pressure control equipment, plus related field services, for customers using drilling and production equipment.

Cactus's profit engine is selling and supporting two main equipment-led streams, Pressure Control and Spoolable Technologies, with segment-level profitability information shown via adjusted segment EBITDA for each stream.

Revenue by segment (latest quarter)
Pressure Control	$0.3B
Spoolable Tech	$0.1B

Business quality (Solid): The company has a clear two-stream segment structure (Pressure Control and Spoolable Technologies) and disclosed operating margin (12.7% for the period). However, the only operating KPI details provided here are market share and select revenue line items, so it is harder to judge demand trends or conversion into profitability beyond segment mix.

Valuation: At 27× earnings, WHD trades 20% below the Machinery average (34×). Note: one-time items can distort reported P/E.

Bull case

Strong U.S. positioning: U.S. wellhead market share is provided as 43.3%, and U.S. product market share is provided as 40.2%.
Equipment and support breadth: The company sells and rents wellheads and pressure control equipment (including SafeDrill, SafeLink, SafeClamp, SafeInject), and it also provides field services such as 24-hour service crews and repair and refurbishment services.

Bear case

Segment concentration: Provided segment revenue candidates show most revenue coming from Pressure Control (0.3B) versus Spoolable Technologies (0.09B), which can increase sensitivity to pressure control conditions.
Smaller contribution from rentals and services: Provided breakdown candidates indicate rental and field service and other revenue lines are smaller versus pressure control product revenue (examples include rental revenue at 0.03B and field service and other revenue at 0.04B).

Valuation — source: SEC EDGAR (first-party)
Price	$55.12
Market Cap	$3.48B
P/E Ratio	20.9
EV / EBITDA	10.1
Price / Book	2.48
Price / Sales	2.93
Dividend Yield	1.1%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.08B
Net Margin	15.4%
Return on Equity	11.0%
Current Ratio	2.61
Revenue Growth (YoY)	38.5%

Financial Health — source: SEC EDGAR
Altman Z-Score	6.79 (safe)

Valuation vs Sector & Industry
Stock P/E	20.9
Sector P/E (Industrials)	28.3
Industry P/E (Machinery)	33.7
vs Sector	-26.0%
vs Industry	-37.9%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($483.39M)
Institutional Holders Tracked	10

Company
Sector	Industrials
Industry	Machinery
CEO	Stephen D. Tadlock
Employees	1,600
Country	US
IPO Date	2018-02-08

Related Companies (Business model: Industrials / Capital Goods (Heavy Machinery + Diversified Industrials); 8 closest by market cap; US-domiciled)

Data as of 2026-07-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.