PEN
Penumbra, Inc.
PEN's fundamentals are mixed, but it looks cheap: trading at 81x earnings, about a third of its usual 225x. Analysts expect strong earnings growth.
PEN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
PEN's revenue, profitability, cash flow and balance sheet are all currently healthy.
PEN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 55x | $321 | — |
| Cheap | 76x | $300 | -6.4% |
| Current | 81x | $321 | — |
| Fair | 222x | $883 | +175% |
| Expensive | 648x | $2,574 | +702% |
Historical ranges are pointers, not guarantees.
PEN's PE is in its cheap range at 81x. If earnings grow as analysts expect, today's price would be 55x next year's earnings.
PEN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for PEN, with profitability improving.
PEN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.82 | +47% |
| Q3 2026 | $3.97 | -5.5% |
| Q2 2026 | $4.07 | +7.7% |
| Q1 2026 | $4.34 | +302% |
| Q4 2025 | $4.52 | +1156% |
| Q3 2025 | $4.20 | +388% |
| Q2 2025 | $3.78 | +1012% |
| Q1 2025 | $1.08 | -54% |
| Q4 2024 | $0.36 | -84% |
PEN earned $3.97 per share over the past year, down 5.5% from the year before.
PEN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $410.1M | +16% |
| Q2 2026 | $390M | +15% |
| Q1 2026 | $374.8M | +16% |
| Q4 2025 | $385.4M | +22% |
| Q3 2025 | $354.7M | +18% |
| Q2 2025 | $339.5M | +13% |
| Q1 2025 | $324.1M | +16% |
| Q4 2024 | $315.5M | +11% |
PEN's revenue has grown year over year every quarter since late 2020: $410M last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | -1.4 points |
| Q2 2026 | 11% | -1.5 points |
| Q1 2026 | 10% | -2.3 points |
| Q4 2025 | 15% | +1.8 points |
| Q3 2025 | 14% | +2 points |
| Q2 2025 | 12% | +39 points |
| Q1 2025 | 12% | +8.1 points |
| Q4 2024 | 14% | +1.3 points |
PEN's operating margin was 12% last quarter, down 1.4 points from the same quarter a year ago.
PEN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $26.4M | -37% |
| Q2 2026 | $32.5M | +11% |
| Q1 2026 | $73.3M | +106% |
| Q4 2025 | $68.1M | +49% |
| Q3 2025 | $42M | -18% |
| Q2 2025 | $29.4M | +62% |
| Q1 2025 | $35.5M | +9.3% |
| Q4 2024 | $45.7M | +40% |
PEN generated $200M in free cash flow over the past year, up 31% from the year before.
PEN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +48.2K shares |
| 1 year | +0.8% | +318K shares |
| 3 years | +1% | +400K shares |
| 5 years | +5.3% | +2M shares |
| Available history | +9.1% | +3.3M shares |
PEN has 40M diluted shares, up 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q4 2024 | $1,000 |
PEN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.2x | Net Cash |
| Q2 2026 | -1.0x | Net Cash |
| Q1 2026 | -1.2x | Net Cash |
| Q4 2025 | -0.9x | Net Cash |
| Q3 2025 | -1.7x | Net Cash |
| Q2 2025 | -2.4x | Net Cash |
| Q1 2025 | -6.4x | Net Cash |
| Q4 2024 | -9.8x | Net Cash |
PEN has more cash than debt.
PEN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.7 | Neutral |
| Stochastic | 27.1 | Neutral |
PEN's weekly RSI is 51 (neutral) and its Stochastic is 27 (neutral).
PEN PE vs Healthcare Sector
| Metric | PEN | Sector median | Relative |
|---|---|---|---|
| PE | 81x | 26x | 213% above |
| PE % | 26 | 29 | 3 pts below |
PEN is trading at 81x earnings, a 213% premium to the Healthcare sector's median of 26x.
PEN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $320.0 | 0.2% above |
| 20 week MA | $320.6 | 0.1% above |
| 50 week MA | $325.6 | 1.5% below |
| 100 week MA | $294.7 | 8.8% above |
| 200 week MA | $267.7 | 20% above |
PEN's trend is mixed: it's above four of its five weekly moving averages, and 20% above its 200-week average.
PEN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $164.1 | $187.4 | +14% |
| 2021 | $187.4 | $275.6 | +47% |
| 2022 | $275.6 | $219.6 | -20% |
| 2023 | $219.6 | $251.5 | +15% |
| 2024 | $251.5 | $239.9 | -4.6% |
| 2025 | $239.9 | $317.0 | +32% |
| 2026 YTD | $317.0 | $320.8 | +1.2% |
PEN has finished higher in four of the last six years. It's up 1.2% so far in 2026.