Penumbra, Inc. (PEN) Key Metrics
PEN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $12.64B
- Enterprise value
- $12.14B
- P/E (TTM)
- 78.8 10-yr median 144.2
- Forward P/E
- 55.6
- PEG ratio
- 3.60
- Price / sales
- 8.4 10-yr median 9.9
- Price / book
- 8.2 10-yr median 8.5
- EV / EBITDA
- 54.6 10-yr median 116.4
- Dividend yield
- —
- Beta
- 0.70
PEN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsPEN valuation Price multiples at each fiscal year-end price.
PEN returns How much profit the business earns on the capital it uses.
PEN per-share figures Results divided by the shares outstanding at year-end.
PEN financial health Debt, liquidity and how easily interest is covered.
PEN efficiency & capital use Working capital cycle and where the cash goes.
PEN valuation history
PEN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PEN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PEN cash returned to shareholders
PEN price vs earnings per share
PEN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $12.22B | $9.33B | $9.86B | $8.42B | $10.88B | $6.26B | $5.96B | $4.41B | $3.32B | $2.14B |
| Enterprise value | $11.89B | $9.21B | $9.81B | $8.47B | $10.80B | $6.07B | $5.85B | $4.21B | $3.11B | $2.01B |
| P/E ratio | 68.8 | 665.5 | 108.5 | — | — | — | 122.9 | 668.1 | 713.7 | 144.2 |
| Price / sales | 8.7 | 7.8 | 9.3 | 9.9 | 14.6 | 11.2 | 10.9 | 9.9 | 10.0 | 8.1 |
| Price / book | 8.6 | 8.1 | 8.4 | 8.4 | 11.4 | 9.8 | 12.3 | 10.4 | 8.3 | 8.0 |
| Price / free cash flow | 69.8 | 63.3 | 120.1 | — | — | — | — | 229.6 | — | — |
| Price / operating cash flow | 51.2 | 55.3 | 101.3 | — | — | — | 223.5 | 153.1 | 261.9 | — |
| EV / sales | 8.5 | 7.7 | 9.3 | 10.0 | 14.5 | 10.8 | 10.7 | 9.5 | 9.3 | 7.6 |
| EV / EBITDA | 53.1 | 200.2 | 90.3 | 282.6 | — | — | 105.2 | 116.4 | 628.6 | — |
| EV / free cash flow | 68.0 | 62.5 | 119.5 | — | — | — | — | 219.2 | — | — |
| Earnings yield | 1.5% | 0.2% | 0.9% | −0.0% | 0.0% | −0.3% | 0.8% | 0.1% | 0.1% | 0.7% |
| Free cash flow yield | 1.4% | 1.6% | 0.8% | −0.9% | −0.1% | −0.9% | 0.1% | 0.4% | −0.1% | −1.2% |
| Dividend yield | — | — | — | 0.1% | 0.1% | 0.2% | 0.3% | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.0% | 1.1% | 0.0% | 0.2% | 0.3% | 0.3% | 0.6% | 0.4% | 0.4% | 0.1% |
| Share price at fiscal year-end | $310.91 | $237.48 | $251.54 | $222.46 | $287.32 | $175.00 | $164.27 | $122.20 | $94.10 | $63.80 |
| Per share | ||||||||||
| Revenue per share | $35.72 | $30.42 | $26.99 | $22.39 | $19.74 | $15.67 | $15.09 | $12.33 | $9.45 | $7.87 |
| Earnings per share | $4.52 | $0.36 | $2.32 | −$0.05 | $0.07 | −$0.54 | $1.34 | $0.18 | $0.13 | $0.44 |
| Operating cash flow per share | $6.07 | $4.29 | $2.48 | −$1.47 | $0.25 | −$0.93 | $0.73 | $0.80 | $0.36 | −$0.38 |
| Free cash flow per share | $4.45 | $3.75 | $2.09 | −$1.98 | −$0.31 | −$1.62 | $0.13 | $0.53 | −$0.07 | −$0.79 |
| Cash per share | $13.87 | $8.66 | $7.37 | $4.97 | $6.73 | $7.40 | $5.22 | $5.57 | $6.08 | $3.85 |
| Book value per share | $36.33 | $29.31 | $30.06 | $26.40 | $25.18 | $17.94 | $13.40 | $11.70 | $11.34 | $7.96 |
| Tangible book value per share | $31.92 | $24.90 | $24.21 | $19.58 | $18.40 | $17.40 | $12.49 | $10.73 | $10.43 | $7.96 |
| Dividends per share | — | — | — | $0.21 | $0.42 | $0.28 | $0.51 | — | $0.00 | $0.00 |
| Capex per share | $1.62 | $0.54 | $0.39 | $0.51 | $0.56 | $0.69 | $0.61 | $0.27 | $0.43 | $0.41 |
| Debt per share | $5.59 | $5.69 | $5.98 | $6.23 | $4.58 | $2.16 | $2.27 | $0.00 | $0.00 | $0.00 |
| Shares outstanding | 39.3M | 39.3M | 39.2M | 37.8M | 37.9M | 35.8M | 36.3M | 36.1M | 35.3M | 33.5M |
| Change in shares outstanding | +0.1% | +0.1% | +3.6% | −0.1% | +5.9% | −1.4% | +0.5% | +2.2% | +5.5% | +135.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 13.8% | 1.2% | 8.4% | −0.2% | 0.3% | −3.4% | 10.7% | 1.6% | 1.4% | 5.9% |
| Return on invested capital (ROIC) | 15.3% | 5.4% | 6.8% | 0.3% | −0.9% | −7.4% | 14.8% | −0.4% | 0.7% | −1.0% |
| Return on assets (ROA) | 10.6% | 0.9% | 6.2% | −0.2% | 0.3% | −2.6% | 8.2% | 1.3% | 1.2% | 5.2% |
| Return on tangible assets | 10.7% | 1.0% | 6.9% | −0.2% | 0.3% | −2.4% | 7.7% | 1.4% | 1.0% | 4.8% |
| Free cash flow margin | 12.5% | 12.3% | 7.8% | −8.8% | −1.6% | −10.3% | 0.8% | 4.3% | −0.7% | −10.0% |
| Income quality (OCF / net income) | 1.34 | 12.02 | 1.07 | — | 3.62 | — | 0.55 | 4.36 | 2.73 | −0.86 |
| Financial health | ||||||||||
| Total debt | $219.7M | $223.4M | $234.3M | $235.8M | $173.5M | $77.3M | $82.3M | $0 | $0 | $0 |
| Cash & short-term investments | $544.8M | $340.1M | $289.2M | $188.0M | $254.9M | $264.8M | $189.4M | $200.9M | $214.6M | $128.8M |
| Net debt | −$325.1M | −$116.7M | −$54.8M | $47.7M | −$81.3M | −$187.6M | −$107.1M | −$200.9M | −$214.6M | −$128.8M |
| Debt / equity | 0.15 | 0.19 | 0.20 | 0.24 | 0.18 | 0.12 | 0.17 | 0.00 | 0.00 | 0.00 |
| Debt / assets | 0.12 | 0.15 | 0.15 | 0.17 | 0.14 | 0.09 | 0.12 | 0.00 | 0.00 | 0.00 |
| Net debt / EBITDA | −1.45 | −2.54 | −0.50 | 1.59 | −9.13 | — | −1.93 | −5.56 | −43.39 | −135.96 |
| Current ratio | 6.64 | 6.01 | 6.06 | 5.21 | 5.53 | 5.83 | 5.09 | 6.22 | 7.41 | 7.37 |
| Quick ratio | 4.29 | 3.44 | 3.49 | 2.91 | 3.39 | 3.76 | 3.41 | 4.47 | 5.57 | 5.33 |
| Interest coverage | 144.4 | 60.8 | 42.3 | 3.5 | -0.5 | -2.2 | 3.9 | — | — | — |
| Working capital | $1.03B | $792.8M | $764.3M | $610.8M | $558.3M | $511.8M | $372.1M | $344.7M | $330.7M | $228.0M |
| Invested capital | $1.10B | $1.03B | $1.12B | $1.05B | $872.6M | $453.9M | $378.8M | $221.4M | $185.8M | $137.8M |
| Tangible asset value | $1.25B | $977.9M | $949.5M | $741.1M | $696.9M | $618.8M | $452.6M | $387.4M | $368.5M | $266.5M |
| Net current asset value | $817.8M | $568.9M | $538.0M | $383.7M | $391.2M | $432.5M | $282.8M | $318.1M | $306.0M | $222.1M |
| Graham number | $60.80 | $15.34 | $39.61 | — | $6.26 | — | $20.07 | $6.94 | $5.80 | $8.90 |
| Graham net-net per share | $12.83 | $7.31 | $6.56 | $3.58 | $5.19 | $7.70 | $4.55 | $6.31 | $6.49 | $4.66 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $8.0M | $15.8M | $10.1M | $18.5M | — | $0 | $0 |
| Share buybacks (net) | $0 | $100.4M | $2.1M | $8.0M | $15.8M | $10.1M | $18.5M | $17.7M | $11.7M | $2.6M |
| Dividend payout ratio | — | — | — | — | 603.6% | — | 38.2% | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 0.0% | 68.2% | 2.5% | — | — | — | 816.0% | 92.3% | — | — |
| Capex / revenue | 4.5% | 1.8% | 1.4% | 2.3% | 2.8% | 4.4% | 4.0% | 2.2% | 4.5% | 5.2% |
| Capex / operating cash flow | 26.7% | 12.6% | 15.6% | — | 222.9% | — | 83.0% | 33.3% | 118.4% | — |
| Capex / depreciation | 3.65 | 0.89 | 0.56 | 0.79 | 1.29 | 1.92 | 2.73 | 1.56 | 3.98 | 5.94 |
| Stock-based compensation / revenue | 4.2% | 3.9% | 4.8% | 4.4% | 8.8% | 4.6% | 3.9% | 4.1% | 5.3% | 5.6% |
| R&D / revenue | 6.4% | 7.9% | 8.0% | 9.4% | 14.0% | 16.1% | 9.4% | 8.1% | 9.5% | 9.1% |
| SG&A / revenue | 47.3% | 48.0% | 47.8% | 53.1% | 50.8% | 51.3% | 49.9% | 51.0% | 55.4% | 56.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 46.5 | 56.4 | 69.9 | 72.7 | 60.7 | 71.8 | 62.6 | 57.4 | 55.4 | 50.4 |
| Days of inventory on hand | 331.7 | 329.9 | 350.6 | 349.6 | 323.8 | 305.9 | 279.5 | 252.2 | 262.8 | 256.1 |
| Days payables outstanding | 26.1 | 24.3 | 26.1 | 23.5 | 18.5 | 24.0 | 24.2 | 17.9 | 17.0 | 13.2 |
| Cash conversion cycle (days) | 352.1 | 362.1 | 394.3 | 398.8 | 366.1 | 353.7 | 317.9 | 291.7 | 301.2 | 293.3 |
| Receivables turnover | 7.85 | 6.47 | 5.23 | 5.02 | 6.02 | 5.08 | 5.83 | 6.36 | 6.59 | 7.24 |
| Payables turnover | 13.96 | 15.03 | 13.96 | 15.56 | 19.78 | 15.21 | 15.07 | 20.41 | 21.46 | 27.70 |
| Inventory turnover | 1.10 | 1.11 | 1.04 | 1.04 | 1.13 | 1.19 | 1.31 | 1.45 | 1.39 | 1.43 |
| Asset turnover | 0.84 | 0.77 | 0.72 | 0.65 | 0.72 | 0.75 | 0.93 | 0.90 | 0.85 | 0.92 |
| Average receivables | $178.8M | $184.7M | $202.6M | $168.7M | $124.3M | $110.3M | $93.9M | $70.0M | $50.7M | $36.4M |
| Average payables | $33.0M | $29.2M | $26.9M | $20.1M | $13.8M | $14.6M | $11.6M | $7.5M | $5.4M | $3.3M |
| Average inventory | $419.1M | $397.4M | $361.0M | $298.8M | $241.5M | $186.3M | $134.4M | $105.3M | $84.0M | $64.9M |
| Intangibles / total assets | 9.5% | 11.3% | 14.7% | 18.8% | 20.7% | 2.3% | 5.0% | 6.8% | 6.7% | 0.0% |
Computed from PEN's annual financial statements (latest annual report filed February 25, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
PEN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Penumbra traded at 68.8 times earnings, against a 10-year median of 144.2. Based on the latest twelve months, the trailing P/E is 78.8 and the forward P/E is 55.6. Penumbra earned a return on equity of 13.8% and a return on invested capital of 15.3% in fiscal 2025. It ended the year with $219.7 million of debt and $544.8 million in cash and short-term investments, a net cash position of $325.1 million. The share count rose 17.4% from 33.5M to 39.3M over 9 years.
See the PEN income statement, the PEN chart for price history, or the PEN stock overview for the latest quote and news.
PEN key metrics FAQ
What is Penumbra's P/E ratio?
Penumbra's trailing P/E ratio is 78.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 55.6. At the end of fiscal 2025 it was 68.8, compared with a 10-year median of 144.2.
What is Penumbra's EV/EBITDA?
Penumbra's enterprise value was 53.1 times EBITDA at the end of fiscal 2025 (enterprise value $11.9 billion, EBITDA $223.9 million); the current EV/EBITDA is 54.6.
What is Penumbra's return on equity?
Penumbra's return on equity (ROE) was 13.8% in fiscal 2025: net income of $177.7 million on average shareholders' equity of $1.3 billion.
What is Penumbra's ROIC?
Penumbra's return on invested capital was 15.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Penumbra have?
Penumbra had total debt of $219.7 million at the end of fiscal 2025, a debt-to-equity ratio of 0.15 and more cash than debt.
What is Penumbra's free cash flow yield?
Penumbra generated $174.9 million of free cash flow in fiscal 2025, a free cash flow yield of 1.4% on its market value at year-end ($12.2 billion).
What is Penumbra's current ratio?
Penumbra's current ratio was 6.64 at the end of fiscal 2025: current assets were 6.64 times current liabilities.