Cactus (WHD) Operating Margin (2017 - 2026)
Cactus (WHD) posted quarterly Operating Margin of 18.59% for Q2 2026, down 363.0% year-over-year from 7.07% in Q2 2025, and up 45.86% on a QoQ basis from 12.75% in Q1 2026.
Cactus (WHD) Operating Margin (2017 - 2026) Analysis & Trends
Cactus has reported Operating Margin for 10 years, with the latest figure at 18.59% in Q2 2026.
- Operating Margin for Q2 2026 came in at 18.59%, down 363.0% year-over-year; the trailing twelve-month figure through Jun 2026 was 18.65% (down 607.0% YoY), and the FY2025 annual result was 23.21%, down 242.0% from the prior year.
- Operating Margin advanced to 18.59% in Q2 2026, from 12.75% in the prior quarter.
- Over five years, Operating Margin peaked at 30.43% in Q3 2023 and troughed at 12.75% in Q1 2026.
- A 5-year average of 23.55% and a median of 23.84% in 2025 frame the typical range for Operating Margin.
- The widest annual swing landed in 2024, when Operating Margin surged 1162 bps; it then tumbled 1173 bps in 2026.
- A 5-year view of Operating Margin shows it stood at 25.68% in 2022, then grew by 11 bps to 28.58% in 2023, then fell by 9 bps to 25.89% in 2024, then retreated by 11 bps to 22.91% in 2025, then slipped by 19 bps to 18.59% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 18.59% in Q2 2026, 12.75% in Q1 2026, and 22.91% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Slb | 80.01 Bn | 75.94 Bn | 4.63 Bn | 48.02% |
| 2 | Baker Hughes | 62.12 Bn | 46.39 Bn | 1.58 Bn | 12.74% |
| 3 | Tenaris | 52.98 Bn | 43.95 Bn | 984.66 | 16.32% |
| 4 | TechnipFMC | 31.09 Bn | 29.85 Bn | 1.40 Bn | -31.83% |
| 5 | Halliburton | 29.61 Bn | 27.56 Bn | 2.10 Bn | 13.62% |
| 6 | Nov | 7.28 Bn | 6.11 Bn | 521.00 Mn | 12.28% |
| 7 | Weatherford International | 6.58 Bn | 5.44 Bn | 662.00 Mn | 9.68% |
| 8 | Kodiak Gas Services | 5.66 Bn | 5.52 Bn | 246.76 Mn | 31.76% |
| 9 | Archrock | 5.54 Bn | 5.54 Bn | 244.51 Mn | 55.10% |
| 10 | Cactus | 4.84 Bn | 4.47 Bn | 215.38 Mn | 18.59% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 18.59% |
| Mar 31, 2026 | 12.75% |
| Dec 31, 2025 | 22.91% |
| Sep 30, 2025 | 23.20% |
| Jun 30, 2025 | 22.23% |
| Mar 31, 2025 | 24.48% |
| Dec 31, 2024 | 25.89% |
| Sep 30, 2024 | 26.19% |
| Jun 30, 2024 | 27.49% |
| Mar 31, 2024 | 22.82% |
| Dec 31, 2023 | 28.58% |
| Sep 30, 2023 | 30.43% |
| Jun 30, 2023 | 15.87% |
| Mar 31, 2023 | 21.75% |
| Dec 31, 2022 | 25.68% |
| Sep 30, 2022 | 27.81% |
| Jun 30, 2022 | 25.99% |
| Mar 31, 2022 | 21.24% |
| Dec 31, 2021 | 19.79% |
| Sep 30, 2021 | 18.00% |