Cactus
Supplies wellheads, pressure-control equipment and FlexSteel pipe for onshore oil and gas operations.
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Profile
Sells and rents wellhead and surface-pressure-control equipment, field services, and FlexSteel spoolable pipe for onshore oil and gas operations. Pressure Control now includes the majority-owned Cactus International business, adding broad international exposure while demand remains tied to drilling, completions, and wells entering production.
Designs, manufactures, sells and rents wellhead and surface-pressure-control equipment through Pressure Control, which combines Cactus Wellhead with the majority-owned Cactus International venture. The business supports onshore conventional and unconventional wells from drilling through production, pairing equipment with installation, maintenance, repair and rental services. Its U.S. service network is complemented by operations and manufacturing across the Middle East, Asia, Australia and Canada.
Spoolable Technologies makes FlexSteel pipe and fittings for production, gathering and takeaway lines, extending the offering from production trees into hydrocarbon transport. Product availability, technical performance and local service execution shape competition. Demand follows operator drilling, completions and wells entering production, while products and facilities depend on environmental rules, hydraulic-fracturing activity and API licenses.
Company facts
Key statistics
Year to date +48.2% · Average volume (30d) 758.3K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | Citigroup | Downgrade | Buy | Neutral | ||
| Aug 19, 2026 | Citigroup | Downgrade | Buy | Neutral | ||
| Aug 3, 2026 | Barclays | Reiterate | Overweight | $70 | $74 | |
| Jul 31, 2026 | Stifel Nicolaus | Target | $68 | $72 | ||
| Jun 16, 2026 | Stifel Nicolaus | Target | $66 | $68 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.64 | $0.93 | +46.0% | $400.8M | $449.5M | +12.2% | +18.50% |
| May 6, 2026Q1 FY26 | $0.65 | $0.70 | +7.7% | $380.4M | $388.3M | +2.1% | +2.97% |
| Feb 25, 2026Q4 FY25 | $0.58 | $0.65 | +12.1% | $251.9M | $261.2M | +3.7% | −11.10% |
| Oct 29, 2025Q3 FY25 | $0.58 | $0.67 | +15.5% | $250.6M | $264.0M | +5.3% | +2.11% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $280.3M | $273.6M | $264.0M | $261.2M | $388.3M | $449.5M | |
| Gross profit | $103.7M | $150.1M | $93.1M | $242.4M | $180.9M | $449.5M | |
| Operating income | $68.6M | $60.8M | $61.2M | $59.9M | $49.5M | $83.6M | |
| Net income | $44.2M | $40.3M | $41.6M | $39.8M | −$48.6M | $49.0M | |
| Diluted EPS | $0.64 | $0.59 | $0.60 | $0.57 | −$0.70 | $0.70 | |
| Gross margin | 37.0% | 54.9% | 35.3% | 92.8% | 46.6% | 100.0% | |
| Operating margin | 24.5% | 22.2% | 23.2% | 22.9% | 12.7% | 18.6% |
Fiscal years (4-quarter sums)FY21 $438.6M · FY22 $688.4M · FY23 $1.10B · FY24 $1.13B · FY25 $1.08B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $365.8M · Total debt $56.2M · Total assets $2.58B · Shareholders' equity $1.24B
Dividends
Raised for 5 straight years — most recently to $0.14 from $0.13 in Aug 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 1, 2026 | Jun 1 | Jun 18 | $0.14 | |
| Mar 2, 2026 | Mar 2 | Mar 19 | $0.14 | |
| Dec 1, 2025 | Dec 1 | Dec 18 | $0.14 | |
| Aug 29, 2025 | Aug 29 | Sep 18 | $0.14 | raised from $0.13 |
| Jun 2, 2025 | Jun 2 | Jun 20 | $0.13 | |
| Mar 3, 2025 | Mar 3 | Mar 20 | $0.13 | |
| Dec 2, 2024 | Dec 2 | Dec 19 | $0.13 | |
| Aug 26, 2024 | Aug 26 | Sep 12 | $0.13 | raised from $0.12 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 69.42M · Float 59.03M · 85.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 10.66M | 15.36% | 13F | Aug 7, 2026 |
| Joel Bender · director, 10 percent owner, officer: President | 9.40M | 13.54% | Form 4 | Aug 10, 2026 |
| Cactus WH Enterprises, LLC · 10 percent owner | 9.26M | 13.34% | Form 4 | Aug 10, 2026 |
| Boston Partners | 4.47M | 6.44% | 13G | Aug 4, 2026 |
| Vanguard Portfolio Management LLC | 4.26M | 6.14% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | Steven Bender | officer: COO, EVP and CEO-SpoolableTech | −25,000 | $67.65 |
| Aug 5, 2026 | William D. Marsh | officer: GC, EVP and Secretary | −7,178 | $66.32 |
| Aug 5, 2026 | John A. Odonnell | director | −10,000 | $66.13 |
| Aug 3, 2026 | Joel Bender | director, 10 percent owner, officer: President | −100,000 | $63.89 |
| Aug 3, 2026 | Scott Bender | director, 10 percent owner, officer: Chairman and CEO | −100,000 | $63.89 |
Peers
- SLB
Cameron division: surface wellheads, frac trees, and production trees worldwide
- Baker Hughes
JV partner in Cactus International; competes directly in spoolable pipe
- TechnipFMC
Surface wellhead and pressure control across U.S. onshore and Middle East
- NOV
Fiberspar spoolable pipe and completion tools competing across two WHD segments
- Halliburton
Completions services giant with adjacent frac-tree and wellhead overlap
- Weatherford International
Conventional wellhead systems and completion tools with marginal PC overlap
- Forum Energy Technologies
Small-cap OFS; pressure-control accessories and coiled line pipe overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cactus | $69.65 | −0.04% | $4.83B | 59.5 | 22.1 | 3.5 | +64.3% |
| SLB | $57.61 | +0.50% | $85.09B | 28.0 | 20.2 | 2.3 | +5.0% |
| Baker Hughes | $62.78 | +0.60% | $61.95B | 20.1 | 23.4 | 2.2 | −2.4% |
| TechnipFMC | $75.84 | +0.03% | $29.74B | 26.3 | 22.4 | 2.9 | +9.0% |
| NOV | $20.79 | −0.91% | $7.48B | 80.7 | 19.8 | 0.9 | −2.5% |
| Halliburton | $36.73 | +1.53% | $30.22B | 18.9 | 14.3 | 1.4 | +3.7% |
| Weatherford International | $93.79 | +0.01% | $6.72B | 18.5 | 15.3 | 1.4 | −8.2% |
| Forum Energy Technologies | $80.00 | −0.79% | $911.2M | — | 16.9 | 1.1 | +13.2% |
| Median | 23.2 | 19.8 | 1.4 | +3.7% |