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Cactus WHD Deferred Revenue

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Other financials

Income statement

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Revenue$388.3M+38.5%
Operating income$49.5M-27.8%
Net income$32.9M-25.6%
EPS (diluted)-$0.70-209%

Balance sheet

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Cash & equivalents$291.6M-16.1%
Total debt$55.2M+28.0%
Total equity$1.2B+7.4%
Total assets$2.5B+38.9%

Cash flow

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Operating cash flow$128.3M+209%
CapEx$282.0K-69.1%
Free cash flow$128.0M+215%

Valuation

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Market cap$5.5B+102%
Enterprise value$5.26B+123%
P/E35.5×+20.5×
P/S4.6×+2.2×

Profitability

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Operating margin19.5%-6.5pp
Net margin13%-3.8pp
FCF margin26.4%

Returns & leverage

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Return on equity13.5%-5.6pp
Debt / equity0.0×
Current ratio2.6×-2.2×

Where this comes from

Reported directly by Cactus in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityCurrent.

The source filing: Cactus’s 10-Q, filed May 8, 2026.

Filed
May 8, 2026, 11:23 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-032636
(in thousands, except per share data)March 31,2026December 31,2025
Current liabilities
Accounts payable$315,781$71,541
Accrued expenses and other current liabilities64,75351,388
Contract liabilities33,5937,707
Current portion of liability related to tax receivable agreement21,31421,314
Finance lease obligations, current portion7,6697,476
Operating lease liabilities, current portion7,9774,815
Total current liabilities451,087164,241

Item 1. Financial Statements.

FAQ

What is Cactus's deferred revenue?
Cactus (WHD) reported deferred revenue of $33.59M in Q1 2026.
How has Cactus's deferred revenue changed year-over-year?
Cactus's deferred revenue increased by 325.2% year-over-year, from $7.9M to $33.59M.
What is the long-term trend for Cactus's deferred revenue?
Over 5 years (2020 to 2025), Cactus's deferred revenue has grown at a 47.6% compound annual growth rate (CAGR), from $1.1M to $7.71M.
What does deferred revenue mean?
Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.

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