Penguin Solutions, Inc. (PENG) 10-Year Financial Performance & Capital Metrics

PENG • • Industrial / General

TechnologyTech Hardware & EquipmentElectronic Manufacturing Services (EMS)Specialized Manufacturing Services

AboutPenguin Solutions, Inc. engages in the designing and development of enterprise solutions worldwide. It operates through three segments: Advanced Computing, Integrated Memory, and Optimized LED. It offers dynamic random access memory modules, solid-state and flash storage, and other advanced integrated memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services. The company also provides Penguin Computing that focus on technical computing for core and cloud environments through high-performance computing and AI solutions; and Penguin Edge, an edge computing solution for embedded and wireless applications, such as high-performance products for government, health care, manufacturing, and telecommunications applications. In addition, it offers Stratus, which provides simplified, protected, and autonomous fault tolerant computing solutions in the data center and at the Edge through hardware and software services; and solutions to education, energy, financial services, government, hyperscale, and manufacturing markets. Further, the company provides LED chip products comprising blue and green LED chips based on gallium nitride, and related materials under Cree LED brand; and surface mount devices under the Cree LED XLamp and J Series brands. It sells its products directly to original equipment manufacturers, enterprise, government and other end customers through direct sales force, e-commerce, customer service representatives, on-site field application engineers, independent sales representatives, distributors, integrators, and resellers. The company was formerly known as SMART Global Holdings, Inc. and changed its name to Penguin Solutions, Inc. in October 2024. Penguin Solutions, Inc. was founded in 1988 and is based in Grand Cayman, Cayman Islands.Show more

Revenue $1.37B +16.9%
EBITDA $130M +55.2%
Net Income $22M +141.1%
EPS (Diluted) 0.28 +128.0%
Gross Margin 28.8% -1.7%
EBITDA Margin 9.53% +32.8%
Operating Margin 5.42% +246.9%
Net Margin 1.58% +135.2%
ROE 4.28% +125.7%
ROIC 7.83% +317.4%
Debt/Equity 0.86 -52.6%
Interest Coverage 10.16 +1475.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.84%

5Y4.05%

3Y-0.65%

TTM16.91%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-31.3%

TTM148.39%

EPS CAGR

10Y-

5Y-

3Y-38.77%

TTM128%

ROCE

10Y Avg12.42%

5Y Avg2.77%

3Y Avg2.98%

Latest6.48%

Peer Comparison

Specialized Manufacturing Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PENGPenguin Solutions, Inc.	1.05B	20.01	71.46	16.91%	1.85%	4.17%	9.52%	0.86
FNFabrinet	17.83B	497.58	54.26	18.6%	9.69%	16.89%	1.16%	0.00
DAIOData I/O Corporation	30.99M	3.30	-9.71	-22.43%	-16.16%	-22.91%		0.16
NSYSNortech Systems Incorporated	23.35M	8.38	-17.83	-8.04%	-2.25%	-7.88%		0.53

Profit & Loss

	Aug 2016	Aug 2017	Aug 2018	Aug 2019	Aug 2020	Aug 2021	Aug 2022	Aug 2023	Aug 2024	Aug 2025
Sales/Revenue+	534.42M	761.29M	1.29B	1.21B	1.12B	1.06B	1.4B	1.44B	1.17B	1.37B
Revenue Growth %	-0.17%	0.42%	0.69%	-0.06%	-0.07%	-0.06%	0.32%	0.03%	-0.19%	0.17%
Cost of Goods Sold+	427.49M	599.04M	997.24M	974.47M	905.98M	817.56M	1B	1.03B	827.88M	974.52M
COGS % of Revenue	0.8%	0.79%	0.77%	0.8%	0.81%	0.77%	0.72%	0.71%	0.71%	0.71%
Gross Profit+	106.93M	162.25M	291.59M	237.53M	216.4M	237.97M	391.05M	415.17M	342.91M	394.27M
Gross Margin %	0.2%	0.21%	0.23%	0.2%	0.19%	0.23%	0.28%	0.29%	0.29%	0.29%
Gross Profit Growth %	-0.19%	0.52%	0.8%	-0.19%	-0.09%	0.1%	0.64%	0.06%	-0.17%	0.15%
Operating Expenses+	100.75M	108.38M	121.36M	148.45M	175.07M	253.68M	323.87M	406.43M	324.62M	320.08M
OpEx % of Revenue	0.19%	0.14%	0.09%	0.12%	0.16%	0.24%	0.23%	0.28%	0.28%	0.23%
Selling, General & Admin	61.5M	69.76M	84.54M	103.23M	123.01M	158.17M	204.84M	260.72M	233.88M	238.18M
SG&A % of Revenue	0.12%	0.09%	0.07%	0.09%	0.11%	0.15%	0.15%	0.18%	0.2%	0.17%
Research & Development	38.12M	38.16M	39.82M	47.92M	52.06M	59.93M	77.47M	90.56M	81.54M	79.8M
R&D % of Revenue	0.07%	0.05%	0.03%	0.04%	0.05%	0.06%	0.06%	0.06%	0.07%	0.06%
Other Operating Expenses	1.14M	457K	-3M	-2.7M	0	35.57M	41.56M	55.14M	9.2M	2.1M
Operating Income+	6.18M	53.87M	170.22M	89.08M	41.33M	-15.71M	67.18M	8.74M	18.3M	74.2M
Operating Margin %	0.01%	0.07%	0.13%	0.07%	0.04%	-0.01%	0.05%	0.01%	0.02%	0.05%
Operating Income Growth %	1.92%	7.71%	2.16%	-0.48%	-0.54%	-1.38%	5.28%	-0.87%	1.09%	3.06%
EBITDA+	37.66M	87.11M	196.4M	118.29M	77.76M	19.23M	113.84M	80.38M	84.01M	130.41M
EBITDA Margin %	0.07%	0.11%	0.15%	0.1%	0.07%	0.02%	0.08%	0.06%	0.07%	0.1%
EBITDA Growth %	-0.13%	1.31%	1.25%	-0.4%	-0.34%	-0.75%	4.92%	-0.29%	0.05%	0.55%
D&A (Non-Cash Add-back)	31.48M	33.24M	26.18M	29.21M	36.43M	34.94M	46.66M	71.63M	65.72M	56.22M
EBIT	8.06M	31.32M	156.92M	86.92M	24.36M	-15.12M	66.83M	-3.09M	-2.79M	56.21M
Net Interest Income+	-25.57M	-29.2M	-19.14M	-20.72M	-15M	-17.14M	-24.34M	-36.42M	-28.38M	-7.3M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	25.57M	29.2M	19.14M	20.72M	15M	17.14M	24.34M	36.42M	28.38M	7.3M
Other Income/Expense	-23.7M	-51.76M	-32.44M	-22.88M	-31.97M	-16.56M	-24.7M	-48.26M	-49.46M	-25.3M
Pretax Income+	-17.52M	2.12M	137.78M	66.2M	9.36M	-32.27M	42.48M	-39.51M	-31.17M	48.9M
Pretax Margin %	-0.03%	0%	0.11%	0.05%	0.01%	-0.03%	0.03%	-0.03%	-0.03%	0.04%
Income Tax+	2.44M	9.91M	18.32M	14.87M	10.5M	9.69M	18.07M	-49.2M	10.62M	20.07M
Effective Tax Rate %	1.14%	-3.68%	0.87%	0.78%	-0.12%	-0.66%	1.57%	4.75%	1.68%	0.44%
Net Income+	-19.96M	-7.79M	119.46M	51.33M	-1.14M	21.31M	66.56M	-187.53M	-52.47M	21.58M
Net Margin %	-0.04%	-0.01%	0.09%	0.04%	-0%	0.02%	0.05%	-0.13%	-0.04%	0.02%
Net Income Growth %	0.57%	0.61%	16.33%	-0.57%	-1.02%	19.64%	2.12%	-3.82%	0.72%	1.41%
Net Income (Continuing)	-19.96M	-7.79M	119.46M	51.33M	-1.14M	-41.95M	24.41M	9.69M	-41.78M	28.84M
Discontinued Operations	0	0	0	0	0	64.46M	44.19M	-195.38M	-8.15M	-3.81M
Minority Interest	0	0	0	0	0	8.67M	6.93M	6.76M	7.83M	11.27M
EPS (Diluted)+	-0.48	-0.24	2.59	1.10	-0.03	0.42	1.22	-3.78	-1.00	0.28
EPS Growth %	0.57%	0.5%	11.79%	-0.58%	-1.02%	17.8%	1.9%	-4.1%	0.74%	1.28%
EPS (Basic)	-0.48	-0.24	2.71	1.12	-0.03	0.44	1.35	-3.78	-1.00	0.29
Diluted Shares Outstanding	41.41M	31.57M	46.24M	46.94M	47.99M	51.58M	54.44M	51.32M	52.43M	54.37M
Basic Shares Outstanding	41.41M	31.57M	44.1M	45.92M	47.99M	48.56M	49.47M	49.57M	52.43M	53.15M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	0.36%

Balance Sheet

	Aug 2016	Aug 2017	Aug 2018	Aug 2019	Aug 2020	Aug 2021	Aug 2022	Aug 2023	Aug 2024	Aug 2025
Total Current Assets+	319.26M	346.99M	522.05M	472.26M	556.71M	950.82M	1.15B	907.4M	867.7M	1.06B
Cash & Short-Term Investments	58.63M	22.44M	31.38M	98.14M	150.81M	222.99M	313.33M	390.81M	389.48M	453.75M
Cash Only	58.63M	22.44M	31.38M	98.14M	150.81M	222.99M	313.33M	365.56M	383.15M	453.75M
Short-Term Investments	0	0	0	0	0	0	0	25.25M	6.34M	0
Accounts Receivable	144.6M	187.58M	242.57M	231.7M	220.99M	317.64M	356.32M	219.25M	251.74M	307.9M
Days Sales Outstanding	98.76	89.94	68.7	69.78	71.87	109.84	93.17	55.52	78.48	82.11
Inventory	103.07M	127.14M	221.42M	118.74M	162.99M	363.6M	263.77M	174.98M	151.21M	255.18M
Days Inventory Outstanding	88	77.46	81.04	44.47	65.67	162.33	95.81	62.24	66.67	95.58
Other Current Assets	8.32M	7.08M	14.84M	10.51M	21.92M	46.59M	218.44M	122.36M	75.26M	47.39M
Total Non-Current Assets+	139.4M	133.04M	150.71M	231.88M	229.9M	393.98M	420.2M	598.56M	606.8M	552.97M
Property, Plant & Equipment	57.6M	55.18M	56.62M	68.34M	79.72M	197.13M	168.53M	187.18M	166.9M	151.45M
Fixed Asset Turnover	9.28x	13.80x	22.76x	17.73x	14.08x	5.35x	8.28x	7.70x	7.02x	9.04x
Goodwill	44.98M	46.02M	45.39M	81.42M	73.95M	74.25M	55.12M	161.96M	161.96M	145.9M
Intangible Assets	16.88M	5.11M	26.25M	69.33M	55.67M	101.07M	77.81M	160.19M	121.45M	87.75M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	19.65M	24.63M	20.02M	10.85M	17.1M	21.52M	114.16M	15.15M	71.42M	68.77M
Total Assets+	458.65M	480.03M	672.76M	704.14M	786.61M	1.34B	1.57B	1.51B	1.47B	1.62B
Asset Turnover	1.17x	1.59x	1.92x	1.72x	1.43x	0.78x	0.89x	0.96x	0.79x	0.85x
Asset Growth %	-0.19%	0.05%	0.4%	0.05%	0.12%	0.71%	0.17%	-0.04%	-0.02%	0.1%
Total Current Liabilities+	229.16M	239.87M	295.79M	237.9M	282.49M	583.8M	515.54M	426.25M	327.6M	473.9M
Accounts Payable	197.98M	189.72M	223.19M	164.87M	224.66M	429.64M	293.17M	134.98M	181.64M	318.76M
Days Payables Outstanding	169.04	115.6	81.69	61.75	90.51	191.81	106.49	48.02	80.08	119.39
Short-Term Debt	17.12M	22.84M	27.41M	24.05M	0	25.35M	8.47M	35.62M	8M	19.95M
Deferred Revenue (Current)	0	0	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K
Other Current Liabilities	9.31M	17.7M	20.36M	17.19M	2.64M	74.34M	122.19M	160.5M	39.33M	61.3M
Current Ratio	1.39x	1.45x	1.76x	1.99x	1.97x	1.63x	2.23x	2.13x	2.65x	2.25x
Quick Ratio	0.94x	0.92x	1.02x	1.49x	1.39x	1.01x	1.72x	1.72x	2.19x	1.71x
Cash Conversion Cycle	17.72	51.8	68.05	52.5	47.02	80.36	82.49	69.75	65.07	58.29
Total Non-Current Liabilities+	230.73M	157.76M	189.85M	192.78M	222.01M	442.08M	677.98M	850.48M	747.7M	535.07M
Long-Term Debt	225.59M	154.45M	184.19M	182.45M	195.57M	340.48M	575.68M	754.82M	657.35M	441.89M
Capital Lease Obligations	0	0	0	0	20.83M	32.42M	66.99M	66.41M	60.54M	62.74M
Deferred Tax Liabilities	2.68M	1.44M	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	2.46M	1.87M	5.66M	10.33M	5.61M	69.17M	35.31M	29.25M	29.81M	30.45M
Total Liabilities	459.89M	397.63M	485.63M	430.68M	504.5M	1.03B	1.19B	1.28B	1.08B	1.01B
Total Debt+	242.7M	177.29M	211.6M	206.5M	221.71M	398.26M	651.14M	856.85M	725.88M	524.57M
Net Debt	184.07M	154.85M	180.22M	108.36M	70.89M	175.27M	337.81M	491.28M	342.74M	70.82M
Debt / Equity	-	2.15x	1.13x	0.76x	0.79x	1.25x	1.72x	3.74x	1.82x	0.86x
Debt / EBITDA	6.44x	2.04x	1.08x	1.75x	2.85x	20.71x	5.72x	10.66x	8.64x	4.02x
Net Debt / EBITDA	4.89x	1.78x	0.92x	0.92x	0.91x	9.11x	2.97x	6.11x	4.08x	0.54x
Interest Coverage	0.24x	1.84x	8.89x	4.30x	2.76x	-0.92x	2.76x	0.24x	0.64x	10.16x
Total Equity+	-1.24M	82.4M	187.13M	273.46M	282.1M	318.92M	378.55M	229.23M	399.21M	608.23M
Equity Growth %	-1.14%	67.61%	1.27%	0.46%	0.03%	0.13%	0.19%	-0.39%	0.74%	0.52%
Book Value per Share	-0.03	2.61	4.05	5.83	5.88	6.18	6.95	4.47	7.61	11.19
Total Shareholders' Equity	-1.24M	82.4M	187.13M	273.46M	282.1M	310.25M	371.61M	222.47M	391.38M	595.96M
Common Stock	416K	653K	678K	712K	737K	1.5M	1.59M	1.73M	1.81M	1.88M
Retained Earnings	586K	-7.21M	112.25M	164.62M	163.48M	184.79M	251.34M	82.46M	29.98M	46.71M
Treasury Stock	0	0	0	0	-2.03M	-50.55M	-107.78M	-132.45M	-153.76M	-207.08M
Accumulated OCI	-147.52M	-143.21M	-176M	-177.87M	-228.24M	-221.62M	-221.66M	-205.96M	10K	18K
Minority Interest	0	0	0	0	0	8.67M	6.93M	6.76M	7.83M	11.27M

Cash Flow

	Aug 2016	Aug 2017	Aug 2018	Aug 2019	Aug 2020	Aug 2021	Aug 2022	Aug 2023	Aug 2024	Aug 2025
Cash from Operations+	15.05M	-933K	67.91M	169.66M	87.2M	153.35M	104.93M	104.39M	77.19M	109.08M
Operating CF Margin %	0.03%	-0%	0.05%	0.14%	0.08%	0.15%	0.08%	0.07%	0.07%	0.08%
Operating CF Growth %	-0.63%	-1.06%	73.78%	1.5%	-0.49%	0.76%	-0.32%	-0.01%	-0.26%	0.41%
Net Income	-19.96M	-7.79M	119.46M	51.33M	-1.14M	-41.95M	24.41M	9.69M	-44.32M	28.84M
Depreciation & Amortization	31.48M	33.24M	26.18M	29.21M	36.43M	34.94M	46.66M	71.63M	65.72M	56.22M
Stock-Based Compensation	3.87M	5.36M	10.56M	18.2M	18.72M	30.96M	37.28M	39.23M	43.16M	41.18M
Deferred Taxes	-1.42M	-2.39M	-2.82M	-719K	-2.12M	-1.98M	-20K	-63.6M	-11.04M	0
Other Non-Cash Items	4.66M	31.86M	827K	809K	24.99M	71.11M	118.89M	39.07M	-31M	1.96M
Working Capital Changes	-3.58M	-61.21M	-86.3M	70.83M	10.32M	60.28M	-122.3M	8.37M	54.67M	-19.1M
Change in Receivables	44.92M	-40.43M	-55.3M	35.24M	-12.35M	-47.77M	-97.8M	162.51M	-32.49M	-56.16M
Change in Inventory	31.33M	-21.85M	-42.44M	102.08M	-51.84M	-99.91M	30.73M	95.22M	23.77M	-101.61M
Change in Payables	-86.59M	-10.61M	17.55M	-64.57M	70.09M	0	-44.91M	0	0	131.01M
Cash from Investing+	-13.37M	-18.03M	-67.75M	-109.44M	-32.04M	-84.18M	-38.97M	-298.57M	107.58M	24.97M
Capital Expenditures	-13.84M	-18.68M	-25.74M	-33.43M	-32.45M	-16.67M	-20.36M	-39.42M	-19.42M	0
CapEx % of Revenue	0.03%	0.02%	0.02%	0.03%	0.03%	0.02%	0.01%	0.03%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	475K	651K	305K	81K	404K	-31.83M	-18.61M	-16.91M	118.12M	17.68M
Cash from Financing+	-10.91M	-16.98M	7.94M	100K	12.59M	2.85M	73.88M	236.42M	-210.1M	-63.46M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	-7.86M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	133K	-156.62M	-768K	0	-21.82M	11.44M	-86K	-55.61M	-39.96M	4.61M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.21M	-19.61M	42.17M	136.22M	54.76M	136.68M	84.57M	64.97M	57.76M	100.07M
FCF Margin %	0%	-0.03%	0.03%	0.11%	0.05%	0.13%	0.06%	0.05%	0.05%	0.07%
FCF Growth %	-0.87%	-17.26%	3.15%	2.23%	-0.6%	1.5%	-0.38%	-0.23%	-0.11%	0.73%
FCF per Share	0.03	-0.62	0.91	2.90	1.14	2.65	1.55	1.27	1.10	1.84
FCF Conversion (FCF/Net Income)	-0.75x	0.12x	0.57x	3.31x	-76.29x	7.20x	1.58x	-0.56x	-1.47x	5.06x
Interest Paid	22.41M	21.46M	15.29M	20.65M	12.98M	8.03M	12.8M	0	0	0
Taxes Paid	5.3M	8.1M	21.83M	15.31M	9.15M	6.7M	13.81M	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-539.31%	-19.21%	88.65%	22.29%	-0.41%	7.09%	19.09%	-61.71%	-16.7%	4.28%
Return on Invested Capital (ROIC)	2.5%	19.24%	42.23%	17.84%	8.44%	-2.78%	8.32%	0.91%	1.88%	7.83%
Gross Margin	20.01%	21.31%	22.62%	19.6%	19.28%	22.55%	28.01%	28.81%	29.29%	28.8%
Net Margin	-3.73%	-1.02%	9.27%	4.24%	-0.1%	2.02%	4.77%	-13.01%	-4.48%	1.58%
Debt / Equity	-	2.15x	1.13x	0.76x	0.79x	1.25x	1.72x	3.74x	1.82x	0.86x
Interest Coverage	0.24x	1.84x	8.89x	4.30x	2.76x	-0.92x	2.76x	0.24x	0.64x	10.16x
FCF Conversion	-0.75x	0.12x	0.57x	3.31x	-76.29x	7.20x	1.58x	-0.56x	-1.47x	5.06x
Revenue Growth	-16.95%	42.45%	69.29%	-5.96%	-7.39%	-5.96%	32.24%	3.25%	-18.77%	16.91%

Revenue by Segment

	2024	2025
Product	925.83M	-
Product Growth	-	-
Service	244.97M	-
Service Growth	-	-

Revenue by Geography

	2024	2025
UNITED STATES	672.75M	776.51M
UNITED STATES Growth	-	15.42%
CHINA	190.65M	186.85M
CHINA Growth	-	-2.00%
Other Country	193.09M	161.14M
Other Country Growth	-	-16.55%
MEXICO	-	147.3M
MEXICO Growth	-	-
Europe	114.3M	97M
Europe Growth	-	-15.13%

Frequently Asked Questions

Valuation & Price

Penguin Solutions, Inc. (PENG) has a price-to-earnings (P/E) ratio of 71.5x. This suggests investors expect higher future growth.

Growth & Financials

Penguin Solutions, Inc. (PENG) reported $1.37B in revenue for fiscal year 2025. This represents a 113% increase from $643.5M in 2015.

Penguin Solutions, Inc. (PENG) grew revenue by 16.9% over the past year. This is strong growth.

Yes, Penguin Solutions, Inc. (PENG) is profitable, generating $25.4M in net income for fiscal year 2025 (1.6% net margin).

Dividend & Returns

Yes, Penguin Solutions, Inc. (PENG) pays a dividend with a yield of 0.72%. This makes it attractive for income-focused investors.

Penguin Solutions, Inc. (PENG) has a return on equity (ROE) of 4.3%. This is below average, suggesting room for improvement.

Penguin Solutions, Inc. (PENG) generated $103.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Penguin Solutions, Inc. (PENG) 10-Year Financial Performance & Capital Metrics

PENG • • Industrial / General

TechnologyTech Hardware & EquipmentElectronic Manufacturing Services (EMS)Specialized Manufacturing Services

Revenue $1.37B +16.9%
EBITDA $130M +55.2%
Net Income $22M +141.1%
EPS (Diluted) 0.28 +128.0%
Gross Margin 28.8% -1.7%
EBITDA Margin 9.53% +32.8%
Operating Margin 5.42% +246.9%
Net Margin 1.58% +135.2%
ROE 4.28% +125.7%
ROIC 7.83% +317.4%
Debt/Equity 0.86 -52.6%
Interest Coverage 10.16 +1475.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.84%

5Y4.05%

3Y-0.65%

TTM16.91%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-31.3%

TTM148.39%

EPS CAGR

10Y-

5Y-

3Y-38.77%

TTM128%

ROCE

10Y Avg12.42%

5Y Avg2.77%

3Y Avg2.98%

Latest6.48%

Peer Comparison

Specialized Manufacturing Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PENGPenguin Solutions, Inc.	1.05B	20.01	71.46	16.91%	1.85%	4.17%	9.52%	0.86
FNFabrinet	17.83B	497.58	54.26	18.6%	9.69%	16.89%	1.16%	0.00
DAIOData I/O Corporation	30.99M	3.30	-9.71	-22.43%	-16.16%	-22.91%		0.16
NSYSNortech Systems Incorporated	23.35M	8.38	-17.83	-8.04%	-2.25%	-7.88%		0.53

Profit & Loss

	Aug 2016	Aug 2017	Aug 2018	Aug 2019	Aug 2020	Aug 2021	Aug 2022	Aug 2023	Aug 2024	Aug 2025
Sales/Revenue+	534.42M	761.29M	1.29B	1.21B	1.12B	1.06B	1.4B	1.44B	1.17B	1.37B
Revenue Growth %	-0.17%	0.42%	0.69%	-0.06%	-0.07%	-0.06%	0.32%	0.03%	-0.19%	0.17%
Cost of Goods Sold+	427.49M	599.04M	997.24M	974.47M	905.98M	817.56M	1B	1.03B	827.88M	974.52M
COGS % of Revenue	0.8%	0.79%	0.77%	0.8%	0.81%	0.77%	0.72%	0.71%	0.71%	0.71%
Gross Profit+	106.93M	162.25M	291.59M	237.53M	216.4M	237.97M	391.05M	415.17M	342.91M	394.27M
Gross Margin %	0.2%	0.21%	0.23%	0.2%	0.19%	0.23%	0.28%	0.29%	0.29%	0.29%
Gross Profit Growth %	-0.19%	0.52%	0.8%	-0.19%	-0.09%	0.1%	0.64%	0.06%	-0.17%	0.15%
Operating Expenses+	100.75M	108.38M	121.36M	148.45M	175.07M	253.68M	323.87M	406.43M	324.62M	320.08M
OpEx % of Revenue	0.19%	0.14%	0.09%	0.12%	0.16%	0.24%	0.23%	0.28%	0.28%	0.23%
Selling, General & Admin	61.5M	69.76M	84.54M	103.23M	123.01M	158.17M	204.84M	260.72M	233.88M	238.18M
SG&A % of Revenue	0.12%	0.09%	0.07%	0.09%	0.11%	0.15%	0.15%	0.18%	0.2%	0.17%
Research & Development	38.12M	38.16M	39.82M	47.92M	52.06M	59.93M	77.47M	90.56M	81.54M	79.8M
R&D % of Revenue	0.07%	0.05%	0.03%	0.04%	0.05%	0.06%	0.06%	0.06%	0.07%	0.06%
Other Operating Expenses	1.14M	457K	-3M	-2.7M	0	35.57M	41.56M	55.14M	9.2M	2.1M
Operating Income+	6.18M	53.87M	170.22M	89.08M	41.33M	-15.71M	67.18M	8.74M	18.3M	74.2M
Operating Margin %	0.01%	0.07%	0.13%	0.07%	0.04%	-0.01%	0.05%	0.01%	0.02%	0.05%
Operating Income Growth %	1.92%	7.71%	2.16%	-0.48%	-0.54%	-1.38%	5.28%	-0.87%	1.09%	3.06%
EBITDA+	37.66M	87.11M	196.4M	118.29M	77.76M	19.23M	113.84M	80.38M	84.01M	130.41M
EBITDA Margin %	0.07%	0.11%	0.15%	0.1%	0.07%	0.02%	0.08%	0.06%	0.07%	0.1%
EBITDA Growth %	-0.13%	1.31%	1.25%	-0.4%	-0.34%	-0.75%	4.92%	-0.29%	0.05%	0.55%
D&A (Non-Cash Add-back)	31.48M	33.24M	26.18M	29.21M	36.43M	34.94M	46.66M	71.63M	65.72M	56.22M
EBIT	8.06M	31.32M	156.92M	86.92M	24.36M	-15.12M	66.83M	-3.09M	-2.79M	56.21M
Net Interest Income+	-25.57M	-29.2M	-19.14M	-20.72M	-15M	-17.14M	-24.34M	-36.42M	-28.38M	-7.3M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	25.57M	29.2M	19.14M	20.72M	15M	17.14M	24.34M	36.42M	28.38M	7.3M
Other Income/Expense	-23.7M	-51.76M	-32.44M	-22.88M	-31.97M	-16.56M	-24.7M	-48.26M	-49.46M	-25.3M
Pretax Income+	-17.52M	2.12M	137.78M	66.2M	9.36M	-32.27M	42.48M	-39.51M	-31.17M	48.9M
Pretax Margin %	-0.03%	0%	0.11%	0.05%	0.01%	-0.03%	0.03%	-0.03%	-0.03%	0.04%
Income Tax+	2.44M	9.91M	18.32M	14.87M	10.5M	9.69M	18.07M	-49.2M	10.62M	20.07M
Effective Tax Rate %	1.14%	-3.68%	0.87%	0.78%	-0.12%	-0.66%	1.57%	4.75%	1.68%	0.44%
Net Income+	-19.96M	-7.79M	119.46M	51.33M	-1.14M	21.31M	66.56M	-187.53M	-52.47M	21.58M
Net Margin %	-0.04%	-0.01%	0.09%	0.04%	-0%	0.02%	0.05%	-0.13%	-0.04%	0.02%
Net Income Growth %	0.57%	0.61%	16.33%	-0.57%	-1.02%	19.64%	2.12%	-3.82%	0.72%	1.41%
Net Income (Continuing)	-19.96M	-7.79M	119.46M	51.33M	-1.14M	-41.95M	24.41M	9.69M	-41.78M	28.84M
Discontinued Operations	0	0	0	0	0	64.46M	44.19M	-195.38M	-8.15M	-3.81M
Minority Interest	0	0	0	0	0	8.67M	6.93M	6.76M	7.83M	11.27M
EPS (Diluted)+	-0.48	-0.24	2.59	1.10	-0.03	0.42	1.22	-3.78	-1.00	0.28
EPS Growth %	0.57%	0.5%	11.79%	-0.58%	-1.02%	17.8%	1.9%	-4.1%	0.74%	1.28%
EPS (Basic)	-0.48	-0.24	2.71	1.12	-0.03	0.44	1.35	-3.78	-1.00	0.29
Diluted Shares Outstanding	41.41M	31.57M	46.24M	46.94M	47.99M	51.58M	54.44M	51.32M	52.43M	54.37M
Basic Shares Outstanding	41.41M	31.57M	44.1M	45.92M	47.99M	48.56M	49.47M	49.57M	52.43M	53.15M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	0.36%

Balance Sheet

	Aug 2016	Aug 2017	Aug 2018	Aug 2019	Aug 2020	Aug 2021	Aug 2022	Aug 2023	Aug 2024	Aug 2025
Total Current Assets+	319.26M	346.99M	522.05M	472.26M	556.71M	950.82M	1.15B	907.4M	867.7M	1.06B
Cash & Short-Term Investments	58.63M	22.44M	31.38M	98.14M	150.81M	222.99M	313.33M	390.81M	389.48M	453.75M
Cash Only	58.63M	22.44M	31.38M	98.14M	150.81M	222.99M	313.33M	365.56M	383.15M	453.75M
Short-Term Investments	0	0	0	0	0	0	0	25.25M	6.34M	0
Accounts Receivable	144.6M	187.58M	242.57M	231.7M	220.99M	317.64M	356.32M	219.25M	251.74M	307.9M
Days Sales Outstanding	98.76	89.94	68.7	69.78	71.87	109.84	93.17	55.52	78.48	82.11
Inventory	103.07M	127.14M	221.42M	118.74M	162.99M	363.6M	263.77M	174.98M	151.21M	255.18M
Days Inventory Outstanding	88	77.46	81.04	44.47	65.67	162.33	95.81	62.24	66.67	95.58
Other Current Assets	8.32M	7.08M	14.84M	10.51M	21.92M	46.59M	218.44M	122.36M	75.26M	47.39M
Total Non-Current Assets+	139.4M	133.04M	150.71M	231.88M	229.9M	393.98M	420.2M	598.56M	606.8M	552.97M
Property, Plant & Equipment	57.6M	55.18M	56.62M	68.34M	79.72M	197.13M	168.53M	187.18M	166.9M	151.45M
Fixed Asset Turnover	9.28x	13.80x	22.76x	17.73x	14.08x	5.35x	8.28x	7.70x	7.02x	9.04x
Goodwill	44.98M	46.02M	45.39M	81.42M	73.95M	74.25M	55.12M	161.96M	161.96M	145.9M
Intangible Assets	16.88M	5.11M	26.25M	69.33M	55.67M	101.07M	77.81M	160.19M	121.45M	87.75M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	19.65M	24.63M	20.02M	10.85M	17.1M	21.52M	114.16M	15.15M	71.42M	68.77M
Total Assets+	458.65M	480.03M	672.76M	704.14M	786.61M	1.34B	1.57B	1.51B	1.47B	1.62B
Asset Turnover	1.17x	1.59x	1.92x	1.72x	1.43x	0.78x	0.89x	0.96x	0.79x	0.85x
Asset Growth %	-0.19%	0.05%	0.4%	0.05%	0.12%	0.71%	0.17%	-0.04%	-0.02%	0.1%
Total Current Liabilities+	229.16M	239.87M	295.79M	237.9M	282.49M	583.8M	515.54M	426.25M	327.6M	473.9M
Accounts Payable	197.98M	189.72M	223.19M	164.87M	224.66M	429.64M	293.17M	134.98M	181.64M	318.76M
Days Payables Outstanding	169.04	115.6	81.69	61.75	90.51	191.81	106.49	48.02	80.08	119.39
Short-Term Debt	17.12M	22.84M	27.41M	24.05M	0	25.35M	8.47M	35.62M	8M	19.95M
Deferred Revenue (Current)	0	0	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K
Other Current Liabilities	9.31M	17.7M	20.36M	17.19M	2.64M	74.34M	122.19M	160.5M	39.33M	61.3M
Current Ratio	1.39x	1.45x	1.76x	1.99x	1.97x	1.63x	2.23x	2.13x	2.65x	2.25x
Quick Ratio	0.94x	0.92x	1.02x	1.49x	1.39x	1.01x	1.72x	1.72x	2.19x	1.71x
Cash Conversion Cycle	17.72	51.8	68.05	52.5	47.02	80.36	82.49	69.75	65.07	58.29
Total Non-Current Liabilities+	230.73M	157.76M	189.85M	192.78M	222.01M	442.08M	677.98M	850.48M	747.7M	535.07M
Long-Term Debt	225.59M	154.45M	184.19M	182.45M	195.57M	340.48M	575.68M	754.82M	657.35M	441.89M
Capital Lease Obligations	0	0	0	0	20.83M	32.42M	66.99M	66.41M	60.54M	62.74M
Deferred Tax Liabilities	2.68M	1.44M	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	2.46M	1.87M	5.66M	10.33M	5.61M	69.17M	35.31M	29.25M	29.81M	30.45M
Total Liabilities	459.89M	397.63M	485.63M	430.68M	504.5M	1.03B	1.19B	1.28B	1.08B	1.01B
Total Debt+	242.7M	177.29M	211.6M	206.5M	221.71M	398.26M	651.14M	856.85M	725.88M	524.57M
Net Debt	184.07M	154.85M	180.22M	108.36M	70.89M	175.27M	337.81M	491.28M	342.74M	70.82M
Debt / Equity	-	2.15x	1.13x	0.76x	0.79x	1.25x	1.72x	3.74x	1.82x	0.86x
Debt / EBITDA	6.44x	2.04x	1.08x	1.75x	2.85x	20.71x	5.72x	10.66x	8.64x	4.02x
Net Debt / EBITDA	4.89x	1.78x	0.92x	0.92x	0.91x	9.11x	2.97x	6.11x	4.08x	0.54x
Interest Coverage	0.24x	1.84x	8.89x	4.30x	2.76x	-0.92x	2.76x	0.24x	0.64x	10.16x
Total Equity+	-1.24M	82.4M	187.13M	273.46M	282.1M	318.92M	378.55M	229.23M	399.21M	608.23M
Equity Growth %	-1.14%	67.61%	1.27%	0.46%	0.03%	0.13%	0.19%	-0.39%	0.74%	0.52%
Book Value per Share	-0.03	2.61	4.05	5.83	5.88	6.18	6.95	4.47	7.61	11.19
Total Shareholders' Equity	-1.24M	82.4M	187.13M	273.46M	282.1M	310.25M	371.61M	222.47M	391.38M	595.96M
Common Stock	416K	653K	678K	712K	737K	1.5M	1.59M	1.73M	1.81M	1.88M
Retained Earnings	586K	-7.21M	112.25M	164.62M	163.48M	184.79M	251.34M	82.46M	29.98M	46.71M
Treasury Stock	0	0	0	0	-2.03M	-50.55M	-107.78M	-132.45M	-153.76M	-207.08M
Accumulated OCI	-147.52M	-143.21M	-176M	-177.87M	-228.24M	-221.62M	-221.66M	-205.96M	10K	18K
Minority Interest	0	0	0	0	0	8.67M	6.93M	6.76M	7.83M	11.27M

Cash Flow

	Aug 2016	Aug 2017	Aug 2018	Aug 2019	Aug 2020	Aug 2021	Aug 2022	Aug 2023	Aug 2024	Aug 2025
Cash from Operations+	15.05M	-933K	67.91M	169.66M	87.2M	153.35M	104.93M	104.39M	77.19M	109.08M
Operating CF Margin %	0.03%	-0%	0.05%	0.14%	0.08%	0.15%	0.08%	0.07%	0.07%	0.08%
Operating CF Growth %	-0.63%	-1.06%	73.78%	1.5%	-0.49%	0.76%	-0.32%	-0.01%	-0.26%	0.41%
Net Income	-19.96M	-7.79M	119.46M	51.33M	-1.14M	-41.95M	24.41M	9.69M	-44.32M	28.84M
Depreciation & Amortization	31.48M	33.24M	26.18M	29.21M	36.43M	34.94M	46.66M	71.63M	65.72M	56.22M
Stock-Based Compensation	3.87M	5.36M	10.56M	18.2M	18.72M	30.96M	37.28M	39.23M	43.16M	41.18M
Deferred Taxes	-1.42M	-2.39M	-2.82M	-719K	-2.12M	-1.98M	-20K	-63.6M	-11.04M	0
Other Non-Cash Items	4.66M	31.86M	827K	809K	24.99M	71.11M	118.89M	39.07M	-31M	1.96M
Working Capital Changes	-3.58M	-61.21M	-86.3M	70.83M	10.32M	60.28M	-122.3M	8.37M	54.67M	-19.1M
Change in Receivables	44.92M	-40.43M	-55.3M	35.24M	-12.35M	-47.77M	-97.8M	162.51M	-32.49M	-56.16M
Change in Inventory	31.33M	-21.85M	-42.44M	102.08M	-51.84M	-99.91M	30.73M	95.22M	23.77M	-101.61M
Change in Payables	-86.59M	-10.61M	17.55M	-64.57M	70.09M	0	-44.91M	0	0	131.01M
Cash from Investing+	-13.37M	-18.03M	-67.75M	-109.44M	-32.04M	-84.18M	-38.97M	-298.57M	107.58M	24.97M
Capital Expenditures	-13.84M	-18.68M	-25.74M	-33.43M	-32.45M	-16.67M	-20.36M	-39.42M	-19.42M	0
CapEx % of Revenue	0.03%	0.02%	0.02%	0.03%	0.03%	0.02%	0.01%	0.03%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	475K	651K	305K	81K	404K	-31.83M	-18.61M	-16.91M	118.12M	17.68M
Cash from Financing+	-10.91M	-16.98M	7.94M	100K	12.59M	2.85M	73.88M	236.42M	-210.1M	-63.46M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	-7.86M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	133K	-156.62M	-768K	0	-21.82M	11.44M	-86K	-55.61M	-39.96M	4.61M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.21M	-19.61M	42.17M	136.22M	54.76M	136.68M	84.57M	64.97M	57.76M	100.07M
FCF Margin %	0%	-0.03%	0.03%	0.11%	0.05%	0.13%	0.06%	0.05%	0.05%	0.07%
FCF Growth %	-0.87%	-17.26%	3.15%	2.23%	-0.6%	1.5%	-0.38%	-0.23%	-0.11%	0.73%
FCF per Share	0.03	-0.62	0.91	2.90	1.14	2.65	1.55	1.27	1.10	1.84
FCF Conversion (FCF/Net Income)	-0.75x	0.12x	0.57x	3.31x	-76.29x	7.20x	1.58x	-0.56x	-1.47x	5.06x
Interest Paid	22.41M	21.46M	15.29M	20.65M	12.98M	8.03M	12.8M	0	0	0
Taxes Paid	5.3M	8.1M	21.83M	15.31M	9.15M	6.7M	13.81M	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-539.31%	-19.21%	88.65%	22.29%	-0.41%	7.09%	19.09%	-61.71%	-16.7%	4.28%
Return on Invested Capital (ROIC)	2.5%	19.24%	42.23%	17.84%	8.44%	-2.78%	8.32%	0.91%	1.88%	7.83%
Gross Margin	20.01%	21.31%	22.62%	19.6%	19.28%	22.55%	28.01%	28.81%	29.29%	28.8%
Net Margin	-3.73%	-1.02%	9.27%	4.24%	-0.1%	2.02%	4.77%	-13.01%	-4.48%	1.58%
Debt / Equity	-	2.15x	1.13x	0.76x	0.79x	1.25x	1.72x	3.74x	1.82x	0.86x
Interest Coverage	0.24x	1.84x	8.89x	4.30x	2.76x	-0.92x	2.76x	0.24x	0.64x	10.16x
FCF Conversion	-0.75x	0.12x	0.57x	3.31x	-76.29x	7.20x	1.58x	-0.56x	-1.47x	5.06x
Revenue Growth	-16.95%	42.45%	69.29%	-5.96%	-7.39%	-5.96%	32.24%	3.25%	-18.77%	16.91%

Revenue by Segment

	2024	2025
Product	925.83M	-
Product Growth	-	-
Service	244.97M	-
Service Growth	-	-

Revenue by Geography

	2024	2025
UNITED STATES	672.75M	776.51M
UNITED STATES Growth	-	15.42%
CHINA	190.65M	186.85M
CHINA Growth	-	-2.00%
Other Country	193.09M	161.14M
Other Country Growth	-	-16.55%
MEXICO	-	147.3M
MEXICO Growth	-	-
Europe	114.3M	97M
Europe Growth	-	-15.13%

Frequently Asked Questions

Valuation & Price

Penguin Solutions, Inc. (PENG) has a price-to-earnings (P/E) ratio of 71.5x. This suggests investors expect higher future growth.

Growth & Financials

Penguin Solutions, Inc. (PENG) reported $1.37B in revenue for fiscal year 2025. This represents a 113% increase from $643.5M in 2015.

Penguin Solutions, Inc. (PENG) grew revenue by 16.9% over the past year. This is strong growth.

Yes, Penguin Solutions, Inc. (PENG) is profitable, generating $25.4M in net income for fiscal year 2025 (1.6% net margin).

Dividend & Returns

Yes, Penguin Solutions, Inc. (PENG) pays a dividend with a yield of 0.72%. This makes it attractive for income-focused investors.

Penguin Solutions, Inc. (PENG) has a return on equity (ROE) of 4.3%. This is below average, suggesting room for improvement.

Penguin Solutions, Inc. (PENG) generated $103.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.