Cactus (WHD) Operating Expenses (2017 - 2026)
Cactus' Operating Expenses came in at $365.95 million for Q2 2026, up 72.0% from $212.77 million a year earlier and up 8.0% from the prior quarter.
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Analysis
Cactus (WHD) Operating Expenses (2017 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Cactus reported Operating Expenses of $1.11 billion, up 31.6% year-over-year; for FY2025, it came in at $828.55 million, down 1.4% from FY2024.
- Operating Expenses carries a five-year compound annual growth rate of 24.4% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $840.2 million in FY2024 (+0.9%), $832.59 million in FY2023 (+62.1%), $513.62 million in FY2022 (+41.4%) and $363.16 million in FY2021 (+30.4%).
- The Q2 2026 figure represents the highest quarterly Operating Expenses in data going back to Q1 2017.
- Year-over-year, Operating Expenses increased in six of the last eight quarters, with growth averaging 17.2%.
- The fastest year-over-year change in Operating Expenses over five years came in Q2 2023 (growth of 104.2%), and the weakest in Q2 2024 (a decline of 18.2%).
- Business Quant data shows WHD's Operating Expenses at $338.85 million (Q1 2026), $201.35 million (Q4 2025) and $202.72 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Slb | 72.31 Bn | 69.42 Bn | 1.40 Bn | 324.00 Mn |
| 2 | Baker Hughes | 54.50 Bn | 17.77 Bn | 1.58 Bn | 723.00 Mn |
| 3 | TechnipFMC | 26.69 Bn | 22.84 Bn | 684.70 Mn | 2.28 Bn |
| 4 | Halliburton | 26.49 Bn | 18.25 Bn | 804.00 Mn | 4.94 Bn |
| 5 | Nov | 6.70 Bn | 1.49 Bn | 521.00 Mn | 1.04 Bn |
| 6 | Noble | 6.66 Bn | 4.59 Bn | 239.27 Mn | 689.21 Mn |
| 7 | Transocean | 5.85 Bn | 3.56 Bn | 358.00 Mn | 812.00 Mn |
| 8 | Weatherford International | 5.65 Bn | 1.58 Bn | 333.00 Mn | 998.00 Mn |
| 9 | Valaris | 5.44 Bn | 3.06 Bn | 123.70 Mn | 498.70 Mn |
| 10 | Cactus | 4.33 Bn | 3.35 Bn | 149.72 Mn | 365.95 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 |
API Access
Cactus Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=WHD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "WHD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=WHD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();