Monitor integration of Baker Hughes acquisition and first-quarter 2026 results that will include the new business. The declining revenue and earnings trend is concerning despite strong cash flow and the transformational acquisition. Watch for guidance on when growth will resume.
Price Chart
Executive Summary
Cactus, Inc. reported mixed Q4 and full-year 2025 results with declining revenue and earnings but strong margins and cash flow. The company closed its acquisition of Baker Hughes' Surface Pressure Control business on January 1, 2026, and a board director will not seek re-election. Despite transformational growth plans, the filing is bearish due to clear YoY financial deterioration.
Key Financial Metrics
Key Facts
- Q4 2025 revenue: $261.2 million, down 4.0% YoY from $272.1 million
- Full-year 2025 revenue: $1.079 billion, down 4.5% YoY from $1.130 billion
- Q4 2025 net income: $48.3 million, down 15.9% YoY from $57.4 million
- Full-year 2025 net income: $201.6 million, down 13.4% YoY from $232.8 million
- Closed acquisition of Baker Hughes' Surface Pressure Control business on January 1, 2026
- Director Melissa Law will not stand for re-election at 2026 Annual Meeting
- Company holds $494.6 million cash with no bank debt outstanding as of December 31, 2025
Financial Impact
Revenue declined 4.5% YoY to $1.079B, net income down 13.4% to $201.6M, but company maintains strong cash position of $494.6M with no debt
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Pressure Control | $717.2M | -1.0% |
| Spoolable Technologies | $368.2M | -9.5% |
Risk Factors
- Continued decline in revenue and earnings if acquisition integration fails
- Near-term macroeconomic challenges in oil and gas sector affecting demand
- Potential leadership changes with director departure
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-011856 |
| Document: whd-20260225.htm | 0001628280-26-011856 |
| Document: 0001628280-26-011856-index-headers.html | 0001628280-26-011856 |
| Document: 0001628280-26-011856-index.html | 0001628280-26-011856 |
| Document: 0001628280-26-011856.txt | 0001628280-26-011856 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 2, 2026 4w ago | Insider Cluster | $71.64 $63.44 | ▼ −11.45% | ▼ −10.26% | $62.19 (−13.19%) |
Aug 6, 2026 8w ago | Insider Cluster | $68.54 $71.64 | ▼ −4.52% | ▼ −3.92% | $62.19 (+9.26%) |
Aug 6, 2026 8w ago | Insider Cluster | $68.54 $71.64 | ▲ +4.52% | ▲ +3.92% | $62.19 (−9.26%) |
Aug 5, 2026 8w ago | 3 | $65.91 $72.14 | ▲ +9.45% | ▲ +10.05% | $62.19 (−5.64%) |
Aug 3, 2026 8w ago | Insider Cluster | $67.21 $70.69 | ▼ −5.18% | ▼ −6.42% | $62.19 (+7.47%) |
Aug 3, 2026 8w ago | Insider Cluster | $67.21 $70.69 | ▲ +5.18% | ▲ +6.42% | $62.19 (−7.47%) |
Jul 29, 2026 9w ago | Insider Cluster | $62.00 $68.53 | ▲ +10.53% | ▲ +6.57% | $62.19 (+0.31%) |
Jul 29, 2026 9w ago | 8-K | $62.00 $68.53 | ▲ +10.53% | ▲ +6.57% | $62.19 (+0.31%) |
Jul 2, 2026 13w ago | Court Ruling | $50.42 $62.00 | ▼ −22.97% | ▼ −23.38% | $62.19 (−23.34%) |
Jun 2, 2026 17w ago | 8-K | $58.80 $50.42 | ▼ −14.25% | ▼ −13.25% | $62.19 (+5.77%) |
US Market Status
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