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PENPenumbra, Inc.
$319.21$12.6B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
PEN logo

Penumbra, Inc.

PEN
NYSE · Medical Devices
$319.21
At close - Nov 6, 4:00 PM EST - USD
Market Cap$12.55B
P/E80.5x
52W High$362.41
Volume336.09K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Growth Deceleration and Margin Pressure Warrant Caution

Penumbra's revenue growth has decelerated to 14.9% in 2026Q2 from 22.1% in 2025Q4, while operating margin contracted to 10.5% from 15.4% over the same period, reflecting competitive pressures and rising SG&A costs.

GrowthDecelerating
ProfitabilityStrained
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

PEN price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

8/12 Beats

EPS beat 8 of last 12 quarters

02

Valuation risk

+172% Peers

P/E is 172% above peer median

03

Market leadership

RS 59 · Avg

Average momentum (RS Rating: 59)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Jan 29
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth decelerated to 14.9% in 2026Q2, while gross margin remained resilient at 67.9%, but operating margin contracted to 10.5% due to SG&A rising 24% year-over-year.

Analyst Consensus+0.2% target
Hold(22 analysts)
9 Buy13 Hold0 Sell

The Bull Case

Upside Catalysts

Technological edge in thrombectomy

Penumbra has a competitive advantage in thrombectomy technology, which is a key driver of its growth and market position.

Expanding global opportunity

The company is capitalizing on growing international demand for its medical devices, further boosting its revenue potential.

Strong stock price appreciation

Penumbra's stock has risen significantly, reflecting the successful execution of its growth strategy and bullish thesis.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
PEN+3.16%
S&P 500 (^GSPC)+7.63%
1-Year Return
PEN+20.63%
S&P 500 (^GSPC)+9.69%
3-Year Return
PEN+60.66%
S&P 500 (^GSPC)+67.78%
5-Year Return
PEN+16.28%
S&P 500 (^GSPC)+55.93%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
80.5x
Forward P/EExpansion
68.5x
EV/EBITDA25th %ile
60.1x
FCF YieldCash Flow
1.6%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
80.5x
108.4x
50th· Fair
EV/EBITDA
60.1x
98.5x
25th· Low
Price/FCF
62.7x
69.8x
0th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$39.45-87.6%
Base (Fair)$82.50-74.2%
Bull$100.36-68.6%
$39.45 Bear$82.50 Base$100.36 Bull
Current Market Price: $319.21
Trades at a 286.9% premium to Base DCF ($82.50)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$1.4B+17.5% YoY
Net income FY25
$178M+1168.1% YoY
Free cash flow FY25
$175M+18.8% YoY
Operating margin FY25
13.5%+6.3 pts YoY
ROIC (FY25)11.3%
Avg ROIC 5Y4.3%
ROE (TTM)10.4%
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate8/12 (67%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Oct 29, 2026
$1.07-10.8%
vs $1.20
$410M+2.2%
vs $401M
Q3 2026
Jul 30, 2026
$0.88-24.1%
vs $1.16
$390M+0.1%
vs $390M
Q2 2026
May 6, 2026
$0.82-21.2%
vs $1.04
$375M+1.2%
vs $370M
Q1 2026
Feb 25, 2026
$1.18+6.3%
vs $1.11
$385M+6.5%
vs $362M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
PRNewsWire·Oct 29, 2026
Penumbra, Inc. Reports Third Quarter 2026 Financial Results

ALAMEDA, Calif., Oct. 29, 2026 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN), the world's leading thrombectomy company, today reported financial results for the third quarter ended September 30, 2026.

PRNewsWire·Oct 20, 2026
Penumbra's CAVT Technology Receives FDA Clearance for the Treatment of Deep Vein Thrombosis (DVT)

BOLT-DVT, a recent prospective, multicenter Investigational Device Exemption (IDE) trial, demonstrated first-line use of computer assisted vacuum thrombectomy (CAVT) for DVT is safe and effective ALAMEDA, Calif., Oct. 20, 2026 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN), the world's leading thrombectomy company, announced that the U.S. Food and Drug Administration (FDA) has granted clearance for the treatment of deep vein thrombosis (DVT) to the company's Lightning™ computer assisted vacuum thrombectomy (CAVT™) technology.

Defense World·Oct 17, 2026
Penumbra (NYSE:PEN) Stock Breaks Above 50-Day Moving Average – Should You Sell?

Penumbra, Inc. (NYSE: PEN - Get Free Report)'s share price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $321.17 and traded as high as $322.80. Penumbra shares last traded at $320.9220, with a volume of 278,513 shares. Wall Street Analysts Forecast Growth Several research

PRNewsWire·Oct 6, 2026
New STORM-PE Data Demonstrate Correlation Between Clinical Assessments and Real-world Functional Recovery Captured Through Wearable Technology in Patients with Pulmonary Embolism

Wearable-derived data provide new insights into how clinical outcomes for patients treated with CAVT and anticoagulation, and anticoagulation alone translate to patients' everyday recovery ALAMEDA, Calif., Oct. 6, 2026 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN) announced results from a subset analysis of the landmark STORM-PE randomized controlled trial (RCT), the first trial to demonstrate a significant correlation between real-world, daily step-based activity as captured on a consumer wearable device and patient performance in the clinical 6-minute walk test.

Filtered for Penumbra, Inc.More Headlines
04

Compare before deciding

Benchmark PEN against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Penumbra, Inc. (PEN)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
PEN logoPENPenumbra, Inc.Current
$319.21$12.55B80.5517.5%10.06%10.44%—
ISRG logoISRGIntuitive Surgical, Inc.
$452.80$159.96B53.8420.51%25.54%16.91%—
NVCR logoNVCRNovocure Ltd
$13.28$1.54B-12.748.28%-16.78%-35.81%—
NVST logoNVSTEnvista Holdings Corp
$25.17$4.1B6.498.32%22.01%20.52%—
INVA logoINVAInnoviva, Inc.
$19.10$1.41B7.1218.52%43.79%15.84%—
SYK logoSYKStryker Corporation
$325.87$124.93B34.6011.16%13.78%15.61%1.03%

Compare PEN vs Peers

Penumbra, Inc. (PEN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ISRG

Most directly comparable listed peer for PEN.

Scale Benchmark

vs MDT

Larger-name benchmark to compare PEN against a more recognizable public peer.

Peer Set

Compare Top 5

vs ISRG, NVCR, NVST, INVA

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

PEN SEC Filings & Documents

Penumbra, Inc. (PEN) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jul 30, 2026·SEC

Material company update

Jun 22, 2026·SEC

Material company update

May 7, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 18, 2025·SEC

FY 2024

Feb 22, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Jul 30, 2026·SEC

FY 2026

May 6, 2026·SEC

FY 2025

Nov 5, 2025·SEC

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PEN Frequently Asked Questions

Penumbra, Inc. (PEN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Penumbra, Inc.'s revenue?

Penumbra, Inc. (PEN) reported $1.56B in revenue over the trailing twelve months. Revenue was $1.40B in fiscal year 2025. That is 1480% more than the $88.8M of fiscal year 2013.

How fast is Penumbra, Inc. growing?

Penumbra, Inc. (PEN) grew revenue by 17.0% over the trailing twelve months, compared with the twelve months before.

Is PEN profitable?

Yes. Penumbra, Inc. (PEN) earned $157.0M in net income over the trailing twelve months (a 10.1% net margin).

Dividend & Returns
What is PEN's return on equity?

Penumbra, Inc. (PEN) had a return on equity (ROE) of 10.4% over the trailing twelve months. That is in line with the market's typical 10-15%.

What is Penumbra, Inc.'s free cash flow?

Penumbra, Inc. (PEN) generated $200.3M in free cash flow over the trailing twelve months.

What if you invested $1,000 in PEN back in 2013?

Total return calculator · dividends reinvested · 13+ years of data

See returns →