Cactus, Inc. income statement
In fiscal 2025, Cactus, Inc. reported revenue of $1.08bn, down 4.5% on the year before, operating income of $251m (a 23.2% margin) and net income of $166m. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 155 | 341 | 544 | 628 | 349 | 439 | 688 | 1,097 | 1,130 | 1,079 | 1,530 |
| Cost of revenue | — | — | — | — | — | — | 446 | 691 | 693 | 680 | 1,017 |
| Gross profit | — | — | — | — | — | — | 242 | 406 | 436 | 399 | 513 |
| Selling, general and administrative | 19 | 27 | 41 | 52 | 40 | 46 | 68 | 127 | 130 | 149 | 226 |
| Operating income | 11 | 89 | 178 | 183 | 70 | 75 | 175 | 264 | 290 | 251 | 287 |
| Interest expense | 20 | 21 | 4 | 0 | 0 | 0 | 0 | 4 | 1 | 1 | — |
| Net interest income | — | −21 | −4 | 1 | 1 | −1 | 4 | −6 | — | — | — |
| Income before tax | −7 | 68 | 170 | 188 | 70 | 75 | 177 | 262 | 299 | 261 | 291 |
| Income tax | 1 | 2 | 20 | 32 | 11 | 8 | 31 | 48 | 67 | 59 | 67 |
| Net income | −8 | 67 | 52 | 86 | 34 | 50 | 110 | 169 | 185 | 166 | 184 |
| Diluted EPS | — | — | $1.58 | $1.88 | — | — | — | — | — | — | — |
| EBITDA | 32 | 112 | 208 | 222 | 111 | 112 | 209 | 329 | 350 | 314 | 403 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 272 | 280 | 274 | 264 | 261 | 388 | 450 | 431 |
| Cost of revenue | 169 | 173 | 174 | 167 | 167 | 277 | 300 | 274 |
| Gross profit | 103 | 108 | 100 | 97 | 95 | 112 | 150 | 157 |
| Selling, general and administrative | 32 | 39 | 39 | 36 | 35 | 62 | 66 | 63 |
| Operating income | 70 | 69 | 61 | 61 | 60 | 50 | 84 | 94 |
| Income before tax | 76 | 71 | 63 | 64 | 62 | 50 | 85 | 95 |
| Income tax | 19 | 17 | 14 | 14 | 14 | 10 | 23 | 21 |
| Net income | 47 | 44 | 40 | 42 | 40 | 33 | 49 | 62 |
| EBITDA | 86 | 84 | 77 | 77 | 76 | 86 | 120 | 121 |
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