WHD at a glance
Cactus, Inc. (WHD, SEC CIK 1699136) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on July 31, 2026, an 8-K current report on September 8, 2026 and Form 4 insider filings as recently as October 2, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Cactus, Inc. (WHD) reported revenue of $1.1 billion (down 4.5% from FY2024) and net income of $166.0 million.
- As of June 30, 2026, 31 institutional investment managers tracked by SignalX reported holding Cactus, Inc. (WHD) shares worth $1.7 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Bender Scott on October 1, 2026 of 100,000 shares at $61.97 per share.
- In the last 90 days, WHD insiders reported 0 open-market purchases ($0) and 14 open-market sales ($56.0M) on Form 4, a net sale of $56.0M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $1.1B
- −4.5% vs prior year
- Insiders · 90 days
- 0 buys · 14 sells
- Net −$56.0M
- 13F holders
- 31 funds
- $1.7B · +3 vs prior quarter
- Latest 8-K
- Sep 8, 2026
- Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: design, manufacture, sale, rental, and field service of wellhead, pressure control equipment, and spoolable pipe technologies for oil and gas
- No new segments; 2025 emphasized investments in international expansion including joint venture in Vietnam and supply chain diversification
- Strategic impact of U.S. tariffs raised steel and import costs, pressuring margins despite cost reductions; Baker Hughes acquisition drove elevated professional fees
- Revenue declined 4.5% to $1.08B in 2025 with Pressure Control segment down 0.9% and Spoolable Technologies down 9.5% amid reduced drilling activity
- Noteworthy: $371M cash held in escrow tied to Baker Hughes transaction closed Jan 2026, constraining liquidity during 2025; share repurchase authorization nearly fully available at $146.3M remaining
Risk Factors
- Regulatory risk: Texas Railroad Commission bans deep wastewater disposal wells in 4 West Texas counties impacting hydraulic fracturing wastewater handling
- Geopolitical risk: Conflicts in Ukraine and Middle East causing longer transit times, higher costs, and reduced availability of raw materials and components
- Operational risk: Dependence on skilled labor with high competition and wage pressure risks limiting expansion and response to demand
- Competitive risk: Competitors with greater resources developing new drilling technologies may erode Cactus’ current U.S. market advantage
- Financial risk: Revenue concentration risk from reliance on a small number of oil and gas E&P customers vulnerable to industry consolidation and payment delays
Management Discussion & Analysis
- Revenue or profitability figures not disclosed in the MD&A section provided
- No specific YoY revenue change or profit margin percentages mentioned
- Pressure Control segment manufacturing facilities in US, China, Vietnam; Spoolable Technologies facility in Baytown, Texas
- Risks include oil and gas industry cyclicality, environmental regulations, hydraulic fracturing restrictions, climate change policies impacting demand and costs
AI summary of the WHD 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Q2 revenue $449.5M, up 15.8% sequentially; YoY quarterly revenue comparison not disclosed
- Q2 operating income $83.6M, margin 18.6% vs 12.7% sequentially
- Best segment Pressure Control revenue $344.0M, operating income $59.2M
- Cash $365.8M; six-month operating cash flow $232.8M vs $124.4M YoY
- 2026 capex guidance raised to $55M–$65M from $40M–$50M amid Baytown capacity investments; tariffs and Iran conflict remain headwinds
Risk Factors
- New Middle East conflict risk, triggered by ongoing U.S.-Iran and regional hostilities
- Middle East operations risk, with UAE and Saudi plants exposed to interruptions and employee-safety concerns
- Supply-chain risk, with Strait of Hormuz traffic expected to disrupt regional logistics
- Integration risk, with Cactus International’s integration plan potentially delayed by the conflict
AI summary of the WHD 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- Investor presentation materials disclosed under Regulation FD for upcoming meetings with certain investors
- Materials available as Exhibit 99.1 and on CactusWHD.com’s Investors section
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 results for quarter ended June 30, 2026
- Press release furnished as Exhibit 99.1 contains financial results and management commentary
Item EX-99.1: Item EX-99.1
- Q2 revenue $449.5M, up from $388.3M sequentially, with adjusted EBITDA $132.8M and 29.5% margin
- Pressure Control revenue rose 14.6% sequentially, while Spoolable Technologies revenue increased 17.4%
Item 1.01: Entry into a Material Definitive Agreement
- Term Loan Facility commitment extended from June 1, 2026 to December 31, 2026
- Facility remained undrawn on May 29, 2026, limiting immediate leverage impact
Item 7.01: Regulation FD Disclosure
- Investor presentation materials disclosed under Regulation FD ahead of upcoming investor meetings
- Exhibit 99.1 and identical materials available through Cactus’s investor-relations website
AI summaries of WHD 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for WHD
Don't miss the next WHD filing
- Alerts as it files. A push when WHD files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut WHD, by share count.
- Ask anything. An AI agent that reads every WHD filing and answers with sources.
WHD alerts on your phone. Follow it in the SignalX Android app.
Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Bender Scott | J | Oct 1, 2026 | 100,000 | - |
| Bender Joel | D | Oct 1, 2026 | 100,000 | - |
| Bender Scott | Sell | Oct 1, 2026 | 100,000 | $61.97 |
| Bender Scott | A | Oct 1, 2026 | 100,000 | - |
| Bender Joel | J | Oct 1, 2026 | 100,000 | - |
| Bender Joel | A | Oct 1, 2026 | 100,000 | - |
| Cactus WH Enterprises, LLC | J | Oct 1, 2026 | 100,000 | - |
| Bender Scott | J | Oct 1, 2026 | 100,000 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|
| Profitability | ||||
| Revenue | $1.1B | $1.1B | $1.1B | |
| Operating Income | $264.4M | $289.6M | $250.5M | |
| Net Income | $169.2M | $185.4M | $166.0M | |
| Op. Margin | 24.1% | 25.6% | 23.2% | |
| Net Margin | 15.4% | 16.4% | 15.4% | |
| Balance Sheet | ||||
| Total Assets | $1.5B | $1.7B | $1.9B | |
| Equity | $865.5M | $1.1B | $1.2B | |
| ROE | 19.5% | 17.3% | 13.5% | |
| Cash Flow | ||||
| Operating CF | $340.3M | $316.1M | $258.4M | |
Source: XBRL data in Cactus, Inc. (WHD)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate WHD share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 31 | $1.65B |
| Q1 2026 | 28 | $1.56B |
| Q4 2025 | 26 | $1.75B |
| Q3 2025 | 26 | $1.66B |
| Q2 2025 | 27 | $1.75B |
| Q1 2025 | 27 | $1.32B |
| Q4 2024 | 22 | $1.39B |
| Q3 2024 | 18 | $477.0M |
- BlackRock+460.1K (+5%)
- Bridgewater Associates LP+293.7K (+4285%)
- Ameriprise Financial+248.3K (+120%)
- BNY Mellon+118.7K (+17%)
- State Street Corp+108.7K (+4%)
- FMR LLC (Fidelity)−1.68M (-70%)
- Millennium Management−676.2K (-85%)
- Morgan Stanley−234.3K (-24%)
- Citadel Advisors LLC−69.1K (-44%)
- Invesco Ltd−62.7K (-18%)
- Renaissance Technologies LLC+133.0K
- Two Sigma Investments+9.9K
- M&T Bank+4.2K
Source: 13F-HR filings on SEC EDGAR (aggregated from 205 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
WHD filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 8-K | Sep 8, 2026 | - | Analysis | - |
| 4 | Sep 2, 2026 | - | - | - |
| 4 | Sep 2, 2026 | - | - | - |
| 4 | Sep 2, 2026 | - | - | - |
| 4 | Aug 10, 2026 | - | - | - |
| 4 | Aug 10, 2026 | - | - | - |
| 4 | Aug 10, 2026 | - | - | - |
| 4 | Aug 10, 2026 | - | - | - |
| 4 | Aug 6, 2026 | - | - | - |
| 4 | Aug 6, 2026 | - | - | - |
| 4 | Aug 5, 2026 | - | - | - |
| 4 | Aug 5, 2026 | - | - | - |
| 4 | Aug 5, 2026 | - | - | - |
| 4 | Aug 5, 2026 | - | - | - |
| 4 | Aug 5, 2026 | - | - | - |
| SC 13G | Aug 4, 2026 | - | - | |
| 4 | Aug 3, 2026 | - | - | - |
| 4 | Aug 3, 2026 | - | - | - |
| 10-Q | Jul 31, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 29, 2026 | - | - | - |
| 4 | Jul 29, 2026 | - | - | - |
| 4 | Jul 29, 2026 | - | - | - |
Related Energy companies
- BKR · Baker HughesOil & Gas Field Machinery & Equipment
- INVX · Innovex International, Inc.Oil & Gas Field Machinery & Equipment
- SEI · Solaris Energy Infrastructure, Inc.Oil & Gas Field Machinery & Equipment
- FTI · TechnipFMC plcOil & Gas Field Machinery & Equipment
- AMR · Alpha Metallurgical Resources, Inc.Bituminous Coal & Lignite Surface Mining
- APA · APA CorporationCrude Petroleum & Natural Gas
- AROC · Archrock, Inc.Natural Gas Transmission
- AESI · Atlas Energy Solutions Inc.Crude Petroleum & Natural Gas
WHD SEC filings: frequently asked questions
Are WHD insiders buying or selling?
In the last 90 days, Cactus, Inc. (WHD) officers, directors and 10% owners reported no open-market purchases and 14 open-market sales worth $56.0 million by 6 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold WHD stock?
As of June 30, 2026, the largest Cactus, Inc. (WHD) holders among the 13F filers tracked by SignalX were BlackRock ($546.4 million), Vanguard Portfolio Management LLC ($218.5 million), State Street Corp ($161.3 million), Vanguard Capital Management LLC ($160.0 million), Dimensional Fund Advisors ($96.3 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was WHD's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Cactus, Inc. (WHD) reported revenue of $1.1 billion (down 4.5% from FY2024) and net income of $166.0 million. The figures come from the XBRL data in the 10-K.
What are the main risks in WHD's latest 10-K?
In the 10-K filed February 26, 2026, Cactus, Inc. (WHD) flagged: Regulatory risk: Texas Railroad Commission bans deep wastewater disposal wells in 4 West Texas counties impacting hydraulic fracturing wastewater handling. Geopolitical risk: Conflicts in Ukraine and Middle East causing longer transit times, higher costs, and reduced availability of raw materials and components. (AI summary of the Risk Factors section.)
What did WHD report in its latest 8-K?
Cactus, Inc. (WHD) filed an 8-K on September 8, 2026 reporting Item 7.01 (Regulation FD Disclosure). Investor presentation materials disclosed under Regulation FD for upcoming meetings with certain investors.
What are the latest WHD SEC filings?
Cactus, Inc. (WHD) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on July 31, 2026, an 8-K current report on September 8, 2026 and a Form 4 insider filing on October 2, 2026.
What is WHD's SEC CIK number?
Cactus, Inc. (WHD)'s SEC Central Index Key (CIK) is 1699136. EDGAR lists every WHD filing under that number.
Ask anything about WHD
The research agent reads WHD's filings, financials, insider trades and 13F holders, then answers with sources.