Cactus (WHD) Operating Expenses (2017 - 2026)
Cactus' (WHD) quarterly Operating Expenses came in at $365.9 million in Q2 2026, up 71.99% on a YoY basis from $212.8 million in Q2 2025, and up 8.0% quarter-over-quarter from $338.8 million in Q1 2026.
Analysis
Cactus (WHD) Operating Expenses (2017 - 2026) Analysis & Trends
Cactus (WHD) has reported Operating Expenses for 10 consecutive years, with $365.9 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Expenses rose 71.99% year-over-year to $365.9 million; the trailing twelve-month figure through Jun 2026 stood at $1.1 billion (up 31.61% YoY), and the FY2025 full-year result was $828.6 million, down 1.39% from the prior year.
- Operating Expenses climbed to $365.9 million in Q2 2026 per WHD's latest filing, from $338.8 million in the prior quarter.
- Across five years, Operating Expenses topped out at $365.9 million in Q2 2026 and bottomed at $114.9 million in Q1 2022.
- Historically, Operating Expenses has averaged $206.7 million across 5 years, with a median of $202.2 million in 2024.
- The sharpest annual moves came in 2023 and 2024: Operating Expenses jumped 104.25% in 2023, then declined 18.16% in 2024.
- Over 5 years, Operating Expenses stood at $139.6 million in 2022, then soared by 40.67% to $196.3 million in 2023, then climbed by 2.73% to $201.7 million in 2024, then declined by 0.16% to $201.4 million in 2025, then soared by 81.74% to $365.9 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $365.9 million, $338.8 million, and $201.4 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | TechnipFMC | 30.87 Bn | 29.63 Bn | 1.40 Bn | 2.28 Bn |
| 2 | Nov | 7.72 Bn | 6.56 Bn | 521.00 Mn | 1.04 Bn |
| 3 | Cactus | 4.82 Bn | 4.46 Bn | 215.38 Mn | 365.95 Mn |
| 4 | Enerflex | 2.77 Bn | 2.69 Bn | 139.00 Mn | 81.00 Mn |
| 5 | Innovex International | 2.06 Bn | 1.83 Bn | 83.65 Mn | 50.20 Mn |
| 6 | Forum Energy Technologies | 911.33 Mn | 877.61 Mn | 71.35 Mn | 50.85 Mn |
| 7 | Flowco Holdings | 898.72 Mn | 898.72 Mn | 49.17 Mn | 79.71 Mn |
| 8 | Oil States International | 509.94 Mn | 490.13 Mn | 38.71 Mn | 144.95 Mn |
| 9 | OMS Energy Technologies | 197.41 Mn | 43.45 Mn | - | - |
| 10 | NCS Multistage Holdings | 140.02 Mn | 129.24 Mn | 13.95 Mn | 19.86 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 365.95 Mn |
| Mar 31, 2026 | 338.85 Mn |
| Dec 31, 2025 | 201.35 Mn |
| Sep 30, 2025 | 202.72 Mn |
| Jun 30, 2025 | 212.77 Mn |
| Mar 31, 2025 | 211.71 Mn |
| Dec 31, 2024 | 201.67 Mn |
| Sep 30, 2024 | 216.39 Mn |
| Jun 30, 2024 | 210.57 Mn |
| Mar 31, 2024 | 211.57 Mn |
| Dec 31, 2023 | 196.31 Mn |
| Sep 30, 2023 | 200.27 Mn |
| Jun 30, 2023 | 257.30 Mn |
| Mar 31, 2023 | 178.72 Mn |
| Dec 31, 2022 | 139.55 Mn |
| Sep 30, 2022 | 133.19 Mn |
| Jun 30, 2022 | 125.97 Mn |
| Mar 31, 2022 | 114.91 Mn |
| Dec 31, 2021 | 104.20 Mn |
| Sep 30, 2021 | 94.60 Mn |