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WHD

Cactus NYSE:WHD Stock Report

Last Price

US$45.52

Market Cap

US$3.4b

7D

15.7%

1Y

15.7%

Updated

05 Oct, 2022

Data

Company Financials +
WHD fundamental analysis
Snowflake Score
Valuation2/6
Future Growth5/6
Past Performance5/6
Financial Health6/6
Dividends2/6

WHD Stock Overview

Cactus, Inc. designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia.

Cactus Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Cactus
Historical stock prices
Current Share PriceUS$45.52
52 Week HighUS$64.18
52 Week LowUS$34.70
Beta1.97
1 Month Change8.20%
3 Month Change14.52%
1 Year Change15.74%
3 Year Change64.69%
5 Year Changen/a
Change since IPO124.79%

Recent News & Updates

Aug 07
Cactus' (NYSE:WHD) Dividend Will Be $0.11

Cactus' (NYSE:WHD) Dividend Will Be $0.11

Cactus, Inc. ( NYSE:WHD ) has announced that it will pay a dividend of $0.11 per share on the 15th of September. This...

Shareholder Returns

WHDUS Energy ServicesUS Market
7D15.7%15.2%4.4%
1Y15.7%12.5%-18.2%

Return vs Industry: WHD exceeded the US Energy Services industry which returned 12.5% over the past year.

Return vs Market: WHD exceeded the US Market which returned -18.2% over the past year.

Price Volatility

Is WHD's price volatile compared to industry and market?
WHD volatility
WHD Average Weekly Movement8.5%
Energy Services Industry Average Movement8.8%
Market Average Movement6.9%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: WHD is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: WHD's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20111,000Scott Benderhttps://www.cactuswhd.com

Cactus, Inc. designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company’s principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, repair, and safe handling of the wellhead and pressure control equipment; and repair and refurbishment services.

Cactus Fundamentals Summary

How do Cactus's earnings and revenue compare to its market cap?
WHD fundamental statistics
Market CapUS$3.41b
Earnings (TTM)US$75.40m
Revenue (TTM)US$561.39m

36.6x

P/E Ratio

4.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
WHD income statement (TTM)
RevenueUS$561.39m
Cost of RevenueUS$385.84m
Gross ProfitUS$175.55m
Other ExpensesUS$100.15m
EarningsUS$75.40m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.24
Gross Margin31.27%
Net Profit Margin13.43%
Debt/Equity Ratio0%

How did WHD perform over the long term?

See historical performance and comparison

Dividends

1.0%

Current Dividend Yield

33%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is WHD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for WHD?

Other financial metrics that can be useful for relative valuation.

WHD key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue4.6x
Enterprise Value/EBITDA16.6x
PEG Ratio1x

Price to Earnings Ratio vs Peers

How does WHD's PE Ratio compare to its peers?

WHD PE Ratio vs Peers
The above table shows the PE ratio for WHD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average28.8x
PFHC ProFrac Holding
9.9x91.8%US$2.5b
NEX NexTier Oilfield Solutions
49.3x60.3%US$2.1b
RES RPC
21.6x27.2%US$1.7b
AROC Archrock
34.4x15.8%US$1.1b
WHD Cactus
36.6x36.5%US$3.4b

Price-To-Earnings vs Peers: WHD is expensive based on its Price-To-Earnings Ratio (36.6x) compared to the peer average (28.8x).


Price to Earnings Ratio vs Industry

How does WHD's PE Ratio compare vs other companies in the US Energy Services Industry?

Price-To-Earnings vs Industry: WHD is expensive based on its Price-To-Earnings Ratio (36.6x) compared to the US Energy Services industry average (26.2x)


Price to Earnings Ratio vs Fair Ratio

What is WHD's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

WHD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio36.6x
Fair PE Ratio26.1x

Price-To-Earnings vs Fair Ratio: WHD is expensive based on its Price-To-Earnings Ratio (36.6x) compared to the estimated Fair Price-To-Earnings Ratio (26.1x).


Share Price vs Fair Value

What is the Fair Price of WHD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: WHD ($45.52) is trading below our estimate of fair value ($98.54)

Significantly Below Fair Value: WHD is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Cactus forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


36.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: WHD's forecast earnings growth (36.5% per year) is above the savings rate (1.9%).

Earnings vs Market: WHD's earnings (36.5% per year) are forecast to grow faster than the US market (14.8% per year).

High Growth Earnings: WHD's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: WHD's revenue (14.6% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: WHD's revenue (14.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: WHD's Return on Equity is forecast to be high in 3 years time (25%)


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Past Performance

How has Cactus performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-2.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: WHD has high quality earnings.

Growing Profit Margin: WHD's current net profit margins (13.4%) are higher than last year (9.8%).


Past Earnings Growth Analysis

Earnings Trend: WHD has become profitable over the past 5 years, growing earnings by -2% per year.

Accelerating Growth: WHD's earnings growth over the past year (140.2%) exceeds its 5-year average (-2% per year).

Earnings vs Industry: WHD earnings growth over the past year (140.2%) exceeded the Energy Services industry 44.1%.


Return on Equity

High ROE: WHD's Return on Equity (15.6%) is considered low.


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Financial Health

How is Cactus's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: WHD's short term assets ($594.5M) exceed its short term liabilities ($113.6M).

Long Term Liabilities: WHD's short term assets ($594.5M) exceed its long term liabilities ($312.7M).


Debt to Equity History and Analysis

Debt Level: WHD is debt free.

Reducing Debt: WHD currently has no debt however we can't compare to 5 years ago as we have no data for that period.

Debt Coverage: WHD has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: WHD has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Cactus's current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


0.97%

Current Dividend Yield

Dividend Yield vs Market

Cactus Dividend Yield vs Market
How does Cactus dividend yield compare to the market?
SegmentDividend Yield
Company (Cactus)1.0%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.5%
Industry Average (Energy Services)2.1%
Analyst forecast in 3 Years (Cactus)0.9%

Notable Dividend: WHD's dividend (0.97%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.6%).

High Dividend: WHD's dividend (0.97%) is low compared to the top 25% of dividend payers in the US market (4.53%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, WHD has been paying a dividend for less than 10 years.

Growing Dividend: WHD's dividend payments have increased, but the company has only paid a dividend for 3 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (33%), WHD's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (71.8%), WHD's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.6yrs

Average management tenure


CEO

Scott Bender (68 yo)

11.75yrs

Tenure

US$2,031,846

Compensation

Mr. Scott J. Bender has been President, Chief Executive Officer and Director of Cactus, Inc. since 2011. He is the President and Chief Executive Officer of Cactus Wellhead, LLC. Mr. Bender founded Cactus L...


CEO Compensation Analysis

Scott Bender's Compensation vs Cactus Earnings
How has Scott Bender's remuneration changed compared to Cactus's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$75m

Mar 31 2022n/an/a

US$59m

Dec 31 2021US$2mUS$225k

US$50m

Sep 30 2021n/an/a

US$38m

Jun 30 2021n/an/a

US$31m

Mar 31 2021n/an/a

US$27m

Dec 31 2020US$2mUS$123k

US$34m

Sep 30 2020n/an/a

US$49m

Jun 30 2020n/an/a

US$62m

Mar 31 2020n/an/a

US$78m

Dec 31 2019US$2mUS$300k

US$86m

Sep 30 2019n/an/a

US$84m

Jun 30 2019n/an/a

US$84m

Mar 31 2019n/an/a

US$75m

Dec 31 2018US$2mUS$300k

US$52m

Sep 30 2018n/an/a

US$101m

Jun 30 2018n/an/a

US$83m

Mar 31 2018n/an/a

US$70m

Dec 31 2017US$585kUS$260k

US$67m

Compensation vs Market: Scott's total compensation ($USD2.03M) is below average for companies of similar size in the US market ($USD6.80M).

Compensation vs Earnings: Scott's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: WHD's management team is considered experienced (3.6 years average tenure).


Board Members

Experienced Board: WHD's board of directors are considered experienced (7.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NYSE:WHD Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
07 Jun 22SellUS$30,386,944Scott BenderIndividual562,336US$55.04
07 Jun 22SellUS$29,286,144Joel BenderIndividual542,336US$54.00
27 May 22SellUS$1,304,832Scott BenderIndividual24,680US$52.87
26 May 22SellUS$2,083,054Steven BenderIndividual40,259US$52.72
23 May 22SellUS$1,001,400Steven BenderIndividual20,000US$50.07
19 May 22SellUS$960,000Steven BenderIndividual20,000US$48.00
19 May 22SellUS$9,051,355Joel BenderIndividual188,784US$48.00
19 May 22SellUS$8,640,000Scott BenderIndividual180,000US$48.00
19 May 22SellUS$746,490Joel BenderIndividual15,151US$49.27
18 May 22SellUS$1,159,382Michael McGovernIndividual24,024US$49.35
16 May 22SellUS$976,800Alan SempleIndividual20,000US$48.84
15 Mar 22SellUS$1,048,074Steven BenderIndividual19,741US$55.99
10 Mar 22SellUS$86,768Donna AndersonIndividual1,496US$58.00
08 Mar 22SellUS$420,750Gary RosenthalIndividual7,000US$60.12
08 Mar 22SellUS$319,308David IsaacIndividual5,091US$62.72
08 Mar 22SellUS$1,636,784Stephen TadlockIndividual26,022US$62.90

Ownership Breakdown

What is the ownership structure of WHD?
Owner TypeNumber of SharesOwnership Percentage
Private Companies8,2020.01%
Individual Insiders375,5080.6%
Institutions65,110,68599.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 78.99% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
9.17%
The Vanguard Group, Inc.
5,560,176$253.1m-1.25%0.01%
8.84%
T. Rowe Price Group, Inc.
5,359,583$244.0m-4.45%0.03%
7.04%
BlackRock, Inc.
4,265,490$194.2m6.98%no data
5.47%
AllianceBernstein L.P.
3,314,913$150.9m-25.44%0.06%
4.58%
Van Eck Associates Corporation
2,776,221$126.4m-7.03%0.23%
4.31%
BNY Mellon Asset Management
2,610,293$118.8m0.63%0.02%
3.3%
ClearBridge Investments, LLC
2,002,158$91.1m0.06%0.08%
3.09%
J.P. Morgan Asset Management, Inc.
1,874,718$85.3m82.63%0.01%
2.97%
Wellington Management Group LLP
1,800,359$82.0m33.09%0.01%
2.9%
Brown Advisory Incorporated
1,758,458$80.0m0.36%0.13%
2.35%
Boston Trust Walden Company
1,427,349$65.0m38.06%0.57%
2.35%
State Street Global Advisors, Inc.
1,424,225$64.8m2.33%no data
2.1%
Channing Capital Management, LLC
1,273,520$58.0m20.26%1.85%
1.94%
Loomis Sayles & Company, L.P.
1,177,924$53.6m-0.51%0.09%
1.9%
Capital Research and Management Company
1,149,091$52.3m0%no data
1.87%
Jennison Associates LLC
1,134,657$51.6m7.66%0.04%
1.73%
Federated Hermes, Inc.
1,047,900$47.7m4.46%0.13%
1.73%
Lazard Asset Management LLC
1,046,889$47.7m-12.04%0.04%
1.69%
Stephens Investment Management Group, LLC
1,023,502$46.6m45.92%0.78%
1.68%
Victory Capital Management Inc.
1,016,099$46.3m-20.27%0.05%
1.65%
Geode Capital Management, LLC
999,455$45.5m3.17%0.01%
1.63%
Macquarie Investment Management Business Trust
989,367$45.0m14.97%0.04%
1.62%
Invesco Ltd.
980,710$44.6m21.4%0.01%
1.57%
Dimensional Fund Advisors LP
952,353$43.4m0.19%0.01%
1.51%
FMR LLC
915,898$41.7m61.2%no data

Company Information

Cactus, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Cactus, Inc.
  • Ticker: WHD
  • Exchange: NYSE
  • Founded: 2011
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Implied Market Cap: US$3.409b
  • Market Cap: US$2.759b
  • Shares outstanding: 75.88m
  • Website: https://www.cactuswhd.com

Number of Employees


Location

  • Cactus, Inc.
  • 920 Memorial City Way
  • Suite 300
  • Houston
  • Texas
  • 77024
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
WHDNYSE (New York Stock Exchange)YesClass A Common StockUSUSDFeb 2018
43CDB (Deutsche Boerse AG)YesClass A Common StockDEEURFeb 2018

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/10/05 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.