(WHD) Cactus - Overview
Stock: Wellhead, Pressure Control, Spoolable Pipe, FlexSteel, Field Services
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 1.22% |
| Yield on Cost 5y | 1.89% |
| Yield CAGR 5y | 9.18% |
| Payout Consistency | 100.0% |
| Payout Ratio | 26.2% |
| Risk 5d forecast | |
|---|---|
| Volatility | 38.5% |
| Relative Tail Risk | -8.11% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.09 |
| Alpha | -24.65 |
| Character TTM | |
|---|---|
| Beta | 1.448 |
| Beta Downside | 1.867 |
| Drawdowns 3y | |
|---|---|
| Max DD | 51.41% |
| CAGR/Max DD | 0.08 |
Description: WHD Cactus January 11, 2026
Cactus, Inc. (NYSE:WHD) designs, manufactures, sells, and rents engineered pressure-control equipment and spoolable pipe systems across the United States, Australia, Canada, the Middle East, and other international markets. The business is split into two operating segments: Pressure Control, which supplies wellhead and pressure-control gear (primarily to on-shore unconventional oil and gas wells) under the Cactus Wellhead brand, and Spoolable Technologies, which produces FlexSteel spoolable pipes and related fittings for production, gathering and takeaway pipelines.
In FY 2023 the company reported roughly $1.2 billion of revenue, with the Pressure Control segment contributing about 55 % and delivering an operating margin near 12 %. The Spoolable Technologies segment posted a 7 % margin, reflecting higher material costs but strong demand from mid-stream pipeline expansions.
Key economic drivers include the U.S. on-shore rig count (which has risen ~15 % YoY in Q4 2024) and capital-expenditure trends in the mid-stream sector, both of which directly influence equipment rentals and new pipe installations. A recent backlog of $300 million suggests continued order flow, while the company’s rental-to-sale ratio of ~0.4 provides a steady recurring-revenue stream that can cushion commodity-price volatility.
For a deeper quantitative comparison with peers, the ValueRay platform offers a granular dashboard of WHD’s valuation multiples and cash-flow metrics.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income: 172.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA -6.88 > 1.0 |
| NWC/Revenue: 69.07% < 20% (prev 47.58%; Δ 21.49% < -1%) |
| CFO/TA 0.14 > 3% & CFO 252.7m > Net Income 172.9m |
| Net Debt (-406.0m) to EBITDA (337.7m): -1.20 < 3 |
| Current Ratio: 5.28 > 1.5 & < 3 |
| Outstanding Shares: last quarter (69.2m) vs 12m ago -13.71% < -2% |
| Gross Margin: 40.82% > 18% (prev 0.38%; Δ 4043 % > 0.5%) |
| Asset Turnover: 61.47% > 50% (prev 67.35%; Δ -5.88% > 0%) |
| Interest Coverage Ratio: 71.82 > 6 (EBITDA TTM 337.7m / Interest Expense TTM 3.82m) |
Altman Z'' 6.27
| A: 0.40 (Total Current Assets 928.7m - Total Current Liabilities 175.9m) / Total Assets 1.86b |
| B: 0.35 (Retained Earnings 650.4m / Total Assets 1.86b) |
| C: 0.15 (EBIT TTM 274.7m / Avg Total Assets 1.77b) |
| D: 1.38 (Book Value of Equity 649.0m / Total Liabilities 471.4m) |
| Altman-Z'' Score: 6.27 = AAA |
Beneish M -3.17
| DSRI: 1.06 (Receivables 201.4m/196.9m, Revenue 1.09b/1.13b) |
| GMI: 0.94 (GM 40.82% / 38.36%) |
| AQI: 0.88 (AQ_t 0.30 / AQ_t-1 0.35) |
| SGI: 0.96 (Revenue 1.09b / 1.13b) |
| TATA: -0.04 (NI 172.9m - CFO 252.7m) / TA 1.86b) |
| Beneish M-Score: -3.17 (Cap -4..+1) = AA |
What is the price of WHD shares?
Over the past week, the price has changed by +3.15%, over one month by +16.16%, over three months by +36.02% and over the past year by -1.78%.
Is WHD a buy, sell or hold?
- StrongBuy: 2
- Buy: 2
- Hold: 3
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the WHD price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 51.5 | -11.2% |
| Analysts Target Price | 51.5 | -11.2% |
| ValueRay Target Price | 59.4 | 2.4% |
WHD Fundamental Data Overview February 03, 2026
P/E Forward = 48.0769
P/S = 3.5514
P/B = 3.2329
Revenue TTM = 1.09b USD
EBIT TTM = 274.7m USD
EBITDA TTM = 337.7m USD
Long Term Debt = 10.3m USD (from longTermDebtTotal, last quarter)
Short Term Debt = 12.4m USD (from shortTermDebt, last quarter)
Debt = 39.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -406.0m USD (from netDebt column, last quarter)
Enterprise Value = 3.46b USD (3.87b + Debt 39.6m - CCE 445.6m)
Interest Coverage Ratio = 71.82 (Ebit TTM 274.7m / Interest Expense TTM 3.82m)
EV/FCF = 16.64x (Enterprise Value 3.46b / FCF TTM 208.3m)
FCF Yield = 6.01% (FCF TTM 208.3m / Enterprise Value 3.46b)
FCF Margin = 19.11% (FCF TTM 208.3m / Revenue TTM 1.09b)
Net Margin = 15.86% (Net Income TTM 172.9m / Revenue TTM 1.09b)
Gross Margin = 40.82% ((Revenue TTM 1.09b - Cost of Revenue TTM 645.1m) / Revenue TTM)
Gross Margin QoQ = 35.28% (prev 54.85%)
Tobins Q-Ratio = 1.86 (Enterprise Value 3.46b / Total Assets 1.86b)
Interest Expense / Debt = 9.64% (Interest Expense 3.82m / Debt 39.6m)
Taxrate = 22.11% (14.2m / 64.4m)
NOPAT = 213.9m (EBIT 274.7m * (1 - 22.11%))
Current Ratio = 5.28 (Total Current Assets 928.7m / Total Current Liabilities 175.9m)
Debt / Equity = 0.03 (Debt 39.6m / totalStockholderEquity, last quarter 1.19b)
Debt / EBITDA = -1.20 (Net Debt -406.0m / EBITDA 337.7m)
Debt / FCF = -1.95 (Net Debt -406.0m / FCF TTM 208.3m)
Total Stockholder Equity = 1.13b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.75% (Net Income 172.9m / Total Assets 1.86b)
RoE = 15.31% (Net Income TTM 172.9m / Total Stockholder Equity 1.13b)
RoCE = 24.10% (EBIT 274.7m / Capital Employed (Equity 1.13b + L.T.Debt 10.3m))
RoIC = 18.94% (NOPAT 213.9m / Invested Capital 1.13b)
WACC = 11.21% (E(3.87b)/V(3.91b) * Re(11.25%) + D(39.6m)/V(3.91b) * Rd(9.64%) * (1-Tc(0.22)))
Discount Rate = 11.25% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -6.92%
[DCF Debug] Terminal Value 71.55% ; FCFF base≈246.4m ; Y1≈303.9m ; Y5≈517.6m
Fair Price DCF = 82.37 (EV 5.26b - Net Debt -406.0m = Equity 5.67b / Shares 68.8m; r=11.21% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: 3.12 | EPS CAGR: -36.05% | SUE: -4.0 | # QB: 0
Revenue Correlation: 80.89 | Revenue CAGR: 20.81% | SUE: 1.91 | # QB: 1
EPS next Quarter (2026-03-31): EPS=0.70 | Chg30d=-0.002 | Revisions Net=+1 | Analysts=4
EPS next Year (2026-12-31): EPS=3.02 | Chg30d=+0.018 | Revisions Net=-1 | Growth EPS=+19.4% | Growth Revenue=+26.7%