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Cactus, Inc. ( Cactus Inc. ) was incorporated on February 17, 2017 as a Delaware corporation for the purpose of completing an initial public offering of equity, which was completed on February 12, 2018 (our IPO ). We began operating in August 2011 following the formation of Cactus Wellhead, LLC ( Cactus LLC ) in part by Scott Bender and Joel Bender, who have owned or operated wellhead manufactu…
$54.50
+$0.70 (+1.30%)
EOD Jul 17, 2026
Margins and capital returns are both well above average: 23.21% operating margin, ROIC at 16.11%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue declined 4.5% YoY. Margins deteriorated 2.4pp alongside, both lines moving the wrong way.
At 51x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from 22.11% to 16.11%, capital efficiency is deteriorating.
51.1x earnings. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$1.19B
▼ -4.5% YoY
Net Income (TTM)
$155M
▼ -10.5% YoY
Op. Margin
19.49%
▼ -2.4pp YoY
ROIC
14.58%
▼ -6.0pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
$345M
▼ -18.3% YoY
Net Debt
-$236M
Net Cash Position
Cash & Equiv.
$292M
5Y CAGR: +25.4%
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At a P/E of 51.1, Cactus (WHD)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in .
On quality, Cactus scores 45/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 1.0%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Cactus scores 45 out of 100 on Intrinsiqq's quality score, a weighted blend of 6 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 19.5% operating margin and a 14.6% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Cactus pays a regular dividend of about $0.56 per share per year (typically in quarterly installments), a yield of roughly 1.0% at the current price. That is a payout ratio of about 24.8% of earnings, so the dividend is amply covered by earnings. Cactus has grown the dividend at roughly 15.3% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For WHD's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. you should weigh WHD's valuation and scores 45/100 on quality (mixed). It also yields about 1.0%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.