stockrowCactus, Inc.
WHD Energy Oil & Gas Equipment & Services
Cactus, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, down 4.49% from fiscal 2024.
- Revenue
- +63.2%
- EPS
- +45.9%
- Free cash flow
- −95.6%
- Total debt
- −7.21%
Quarter to September 2026, against a year earlier
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Cactus, Inc. (WHD) Piotroski F-score
Cactus, Inc.'s Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, down from 6 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | (1.00) |
| FY2024 | 6 | 0.00 |
| FY2023 | 6 | (2.00) |
| FY2022 | 8 | 3.00 |
| FY2021 | 5 | 0.00 |
| FY2020 | 5 | 0.00 |
| FY2019 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 9.20% | 11.37% | Pass | 1 |
| Positive operating cash flow | 258.42m | 316.11m | Pass | 1 |
| Rising return on assets | 9.20% | 11.37% | Fail | 0 |
| Cash flow above net income | 92.40m | 130.71m | Pass | 1 |
| Falling long-term leverage | 0.01 | 0.01 | Pass | 1 |
| Rising current ratio | 5.81 | 4.33 | Pass | 1 |
| No new shares issued | 68,565,000 | 66,393,000 | Fail | 0 |
| Rising gross margin | 37.02% | 38.63% | Fail | 0 |
| Rising asset turnover | 0.60 | 0.69 | Fail | 0 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| AROC Archrock, Inc. compare | 8 |
| OII Oceaneering International, Inc. compare | 7 |
| TDW Tidewater Inc. compare | 7 |
| USAC USA Compression Partners, LP compare | 6 |
| WFRD Weatherford International PLC compare | 6 |
| KGS Kodiak Gas Services, Inc. compare | 6 |
| WHD Cactus, Inc. | 5 |
| NOV NOV Inc. compare | 5 |
| SEI Solaris Energy Infrastructure, Inc. compare | 4 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover
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