← Cactus, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | $66.5m | $150.3m | $156.3m | $59.2m | $67.5m | $145.1m | $214.8m | $232.8m | $201.6m | |
| Depreciation and amortization | $23.3m | $30.2m | $38.9m | $40.5m | $36.3m | $34.1m | $65.0m | $60.4m | $63.9m | |
| Deferred financing cost amortization | $1.8m | $275k | $168k | $168k | $168k | $165k | $4.5m | $1.1m | $1.1m | |
| Deferred income taxes | $220k | $15.2m | $25.4m | $6.9m | $4.8m | $25.3m | $17.3m | $19.8m | $35.1m | |
| Stock-based compensation | — | $4.7m | $7.0m | $8.6m | $8.6m | $10.6m | $18.1m | $22.9m | $24.5m | |
| Provision for expected credit losses | ($100k) | $0 | $355k | $342k | $310k | $406k | $2.6m | $370k | $1.2m | |
| Inventory obsolescence | $1.3m | $1.5m | $2.6m | $4.8m | $3.5m | $2.7m | $5.3m | $3.8m | $3.2m | |
| Gain on disposal of assets | $534k | $886k | $236k | ($2.5m) | ($1.4m) | ($1.4m) | ($3.2m) | ($1.0m) | ($3.0m) | |
| Change in fair value of earn-out liability | — | — | — | — | $0 | $0 | $14.8m | $16.3m | $0 | |
| (Gain) loss from revaluation of liability related to tax receivable agreement | — | $0 | ($5.3m) | $555k | ($898k) | $1.9m | ($4.5m) | ($3.2m) | $794k | |
| Accounts receivable | ($50.1m) | ($8.1m) | $4.2m | $44.8m | ($45.5m) | ($49.3m) | ($11.9m) | $13.0m | $26.4m | |
| Inventories | ($28.3m) | ($38.2m) | ($17.6m) | $18.2m | ($36.1m) | ($44.9m) | $41.9m | ($25.6m) | ($52.5m) | |
| Prepaid expenses and other assets | ($4.0m) | ($6.5m) | $438k | $6.2m | ($2.8m) | ($3.1m) | $753k | ($2.3m) | ($6.0m) | |
| Accounts payable | $19.5m | $7.7m | ($607k) | ($19.4m) | $22.3m | $5.8m | $8.7m | $675k | ($2.1m) | |
| Accrued expenses and other liabilities | $4.1m | $5.1m | $7.0m | ($10.9m) | $16.6m | $2.1m | ($7.4m) | $29.0m | ($15.9m) | |
| Payments pursuant to tax receivable agreement | — | $0 | ($9.3m) | ($14.2m) | ($9.7m) | ($11.7m) | ($26.9m) | ($20.8m) | ($20.1m) | |
| Payment of earn-out liability | — | — | — | — | — | $0 | $0 | ($31.2m) | $0 | |
| Investment in unconsolidated affiliates | — | — | — | — | — | — | $0 | $0 | ($6.0m) | |
| Proceeds from sale of assets | $1.4m | $1.9m | $3.8m | $6.3m | $2.3m | $2.8m | $5.4m | $3.8m | $5.7m | |
| Payment of contingent consideration | — | — | — | — | — | $0 | $0 | ($6.0m) | $0 | |
| Payments of deferred financing costs | — | — | — | $0 | $0 | ($353k) | ($6.9m) | $0 | ($2.4m) | |
| Payments on finance leases | — | — | ($7.5m) | ($5.3m) | ($5.2m) | ($6.1m) | ($7.7m) | ($7.9m) | ($7.7m) | |
| Distributions to members | — | ($31.8m) | ($8.4m) | ($16.3m) | ($9.7m) | ($9.7m) | ($16.6m) | ($13.3m) | ($15.6m) | |
| Repurchases of shares | — | $0 | ($1.5m) | ($1.4m) | ($3.3m) | ($4.6m) | ($5.2m) | ($9.3m) | ($5.9m) | |
| Beginning of period | $7.6m | $70.8m | $202.6m | $288.7m | $301.7m | $344.5m | $133.8m | $342.8m | $494.6m | |
| Net cash provided by operating activities | $34.7m | $167.2m | $209.6m | $143.4m | $63.8m | $117.9m | $340.3m | $316.1m | $258.4m | |
| Capital expenditures and other | ($32.1m) | ($70.1m) | ($59.7m) | ($24.5m) | ($13.9m) | ($28.3m) | ($44.0m) | ($39.2m) | ($38.8m) | |
| Acquisition of a business, net of cash and cash equivalents acquired | — | — | — | — | $0 | $0 | ($616.2m) | $0 | $0 | |
| Net cash used in investing activities | ($30.7m) | ($68.2m) | ($55.9m) | ($18.1m) | ($11.6m) | ($25.5m) | ($654.8m) | ($35.4m) | ($39.1m) | |
| Proceeds from the issuance of long-term debt | — | — | — | — | $0 | $0 | $155.0m | $0 | $0 | |
| Repayments of borrowings of long-term debt | ($2.6m) | ($248.5m) | $0 | $0 | $0 | $0 | ($155.0m) | $0 | $0 | |
| Net proceeds from the issuance of Class A common stock | — | — | — | — | $0 | $0 | $169.9m | $0 | $0 | |
| Dividends paid to Class A common stock shareholders | — | $0 | ($4.2m) | ($17.1m) | ($21.2m) | ($26.7m) | ($30.1m) | ($33.7m) | ($37.4m) | |
| Net cash (used in) provided by financing activities | ($5.3m) | ($35.0m) | ($21.7m) | ($40.2m) | ($39.4m) | ($47.4m) | $103.3m | ($70.1m) | ($69.1m) | |
| Effect of exchange rate changes on cash and cash equivalents | $170k | ($755k) | ($253k) | $1.0m | $272k | ($2.1m) | $503k | ($1.5m) | $1.4m | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | ($1.1m) | $63.3m | $131.8m | $86.1m | $13.0m | $42.9m | ($210.7m) | $209.1m | $151.7m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.