Cactus, Inc. (WHD) intrinsic value & 10-year financials
Cactus, Inc. (WHD) has a Graham intrinsic value of $62.45 per share. At $61.71 on Oct 17, 2026, the stock trades 1% below that value. Over the last 10 fiscal years revenue grew 24.1% a year to $1.1B, with an average return on invested capital of 45.8%.
- Graham intrinsic value
- $62.45
- Share price (Oct 17, 2026)
- $61.71
- Price vs Graham value
- 1% below
- Market cap
- $5.4B
- Revenue (FY2025)
- $1.1B
- Revenue growth (10-yr CAGR)
- 24.1%
- ROIC (10-yr avg)
- 45.8%
- Free cash flow (FY2025)
- —
WHD 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.1B | $166.0M | — | — | 23.2% | 19.6% |
| FY2024 | $1.1B | $185.4M | — | — | 25.6% | 28.1% |
| FY2023 | $1.1B | $169.2M | — | — | 24.1% | 40.8% |
| FY2022 | $688.4M | $110.2M | — | — | 25.4% | 61.4% |
| FY2021 | $438.6M | $49.6M | — | — | 17.2% | 47.5% |
| FY2020 | $348.6M | $34.4M | — | — | 20.1% | 45.5% |
| FY2019 | $628.4M | $85.6M | $1.88 | — | 29.1% | 100.7% |
| FY2018 | $544.1M | $51.7M | $1.58 | — | 32.7% | 81.7% |
| FY2017 | $341.2M | $66.5M | — | — | 26.0% | 43.4% |
| FY2016 | $155.0M | -$8.2M | — | — | 6.8% | -10.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Cactus, Inc. is a consistent compounder, expanding top-line revenue at 24.1% annually over the past decade.
Cactus, Inc. has earned high returns on invested capital, averaging 45.8% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Cactus, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Cactus, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $62.45 per share.