Cactus (WHD) Operating Margin (2017 - 2026)
Cactus (WHD) recorded Operating Margin of 18.59% in Q2 2026, down 3.63 percentage points from 22.23% a year earlier but up 5.85 percentage points from the prior quarter.
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Analysis
Cactus (WHD) Operating Margin (2017 - 2026) Analysis & Trends
On a TTM basis, Cactus' Operating Margin came in at 18.65% as of Jun 30, 2026, down 6.07 percentage points year-over-year; for FY2025, it was 23.21%, down 2.42 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +3.12 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 25.63% in FY2024 (+1.53 pp), 24.10% in FY2023 (-1.29 pp), 25.39% in FY2022 (+8.19 pp) and 17.20% in FY2021 (-2.90 pp).
- Quarterly Operating Margin has ranged from 12.75% in Q1 2026 to 30.43% in Q3 2023 over the past five years.
- On a year-over-year basis, Operating Margin has declined for five consecutive quarters, with an average year-over-year change of -3.98 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 11.62 percentage points in Q2 2024, against a drop of 11.73 percentage points in Q1 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 12.75% (Q1 2026), 22.91% (Q4 2025) and 23.20% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Slb | 74.03 Bn | 71.14 Bn | 1.40 Bn | 11.94% |
| 2 | Baker Hughes | 55.51 Bn | 18.79 Bn | 1.58 Bn | 12.74% |
| 3 | TechnipFMC | 27.04 Bn | 23.19 Bn | 684.70 Mn | -57.68% |
| 4 | Halliburton | 26.27 Bn | 18.03 Bn | 804.00 Mn | 13.62% |
| 5 | Nov | 6.79 Bn | 1.58 Bn | 521.00 Mn | 9.04% |
| 6 | Noble | 6.70 Bn | 4.63 Bn | 239.27 Mn | 4.23% |
| 7 | Transocean | 5.82 Bn | 3.53 Bn | 358.00 Mn | 15.73% |
| 8 | Weatherford International | 5.77 Bn | 1.71 Bn | 333.00 Mn | 9.68% |
| 9 | Valaris | 5.44 Bn | 3.05 Bn | 123.70 Mn | 9.48% |
| 10 | Cactus | 4.44 Bn | 3.45 Bn | 149.72 Mn | 18.59% |
Historic Data
Download Data
Historic 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% |
API Access
Cactus Operating Margin 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-margin&ticker=WHD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=WHD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();