Penumbra (PEN) Financials

$326.40 -0.14 (-0.04%)

Closing price 05/19/2026 03:59 PM Eastern

Extended Trading

$326.55 +0.15 (+0.05%)

As of 05/19/2026 07:10 PM Eastern

Annual Income Statements for Penumbra

This table shows Penumbra's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	1.08	15	4.66	6.60	48	-16	5.28	-2.00	91	14	178
Consolidated Net Income / (Loss)	2.37	15	4.66	2.91	47	-19	2.62	-2.00	91	14	178
Net Income / (Loss) Continuing Operations	2.37	15	6.09	2.91	47	-19	2.62	-2.00	91	14	178
Total Pre-Tax Income	4.02	-0.87	2.48	1.61	50	-38	-11	3.89	80	21	205
Total Operating Income	4.18	-1.35	1.17	-0.85	48	-39	-7.50	6.08	74	9.28	189
Total Gross Profit	124	171	217	293	372	338	475	535	683	755	942
Total Revenue	186	263	334	445	547	560	748	847	1,059	1,195	1,404
Operating Revenue	186	263	334	445	547	560	748	847	1,059	1,195	1,404
Total Cost of Revenue	62	92	117	152	175	222	272	312	376	440	461
Operating Cost of Revenue	62	92	117	152	175	222	272	312	376	440	461
Total Operating Expenses	120	172	216	293	324	377	483	529	609	746	753
Selling, General & Admin Expense	102	148	184	226	273	287	378	450	506	574	663
Research & Development Expense	18	24	32	67	52	90	105	79	103	95	90
Impairment Charge	-	-	-	-	-	-	-	0.00	0.00	77	0.00
Total Other Income / (Expense), net	-0.16	0.48	1.31	2.46	2.63	0.92	-3.00	-2.19	6.10	12	16
Other Income / (Expense), net	-0.70	-1.84	-1.34	-0.50	-0.23	-0.34	-3.00	-2.19	6.10	12	16
Income Tax Expense	1.66	-16	-3.61	-4.40	3.13	-19	-13	5.89	-11	6.86	27
Basic Earnings per Share	$0.09	$0.49	$0.14	$0.19	$1.39	($0.44)	$0.14	($0.05)	$2.37	$0.36	$4.57
Weighted Average Basic Shares Outstanding	11.99M	30.46M	32.98M	34.14M	34.75M	35.77M	36.76M	37.84M	38.40M	38.63M	38.92M
Diluted Earnings per Share	$0.08	$0.44	$0.13	$0.18	$1.34	($0.44)	$0.14	($0.05)	$2.32	$0.36	$4.52
Weighted Average Diluted Shares Outstanding	14.22M	33.48M	35.32M	36.09M	36.27M	35.77M	37.88M	37.84M	39.22M	39.27M	39.29M
Weighted Average Basic & Diluted Shares Outstanding	29.98M	30.20M	33.30M	34.70M	35.05M	36.45M	37.65M	38.18M	38.70M	38.52M	39.24M

This table shows Penumbra's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	9.21	54	11	-60	30	34	39	45	46	47	33
Consolidated Net Income / (Loss)	9.21	54	11	-60	30	34	39	45	46	47	33
Net Income / (Loss) Continuing Operations	9.21	54	11	-60	30	34	39	45	46	47	33
Total Pre-Tax Income	13	38	15	-78	40	44	44	45	52	64	42
Total Operating Income	13	35	12	-81	35	43	40	41	49	59	38
Total Gross Profit	178	187	181	163	200	211	216	224	240	262	253
Total Revenue	271	285	279	299	301	316	324	339	355	385	375
Operating Revenue	271	285	279	299	301	316	324	339	355	385	375
Total Cost of Revenue	93	98	98	137	101	105	108	115	114	123	121
Operating Cost of Revenue	93	98	98	137	101	105	108	115	114	123	121
Total Operating Expenses	165	152	169	244	165	168	176	183	192	203	215
Selling, General & Admin Expense	126	130	144	142	140	148	153	160	169	181	193
Research & Development Expense	39	22	25	25	25	20	22	23	23	22	22
Total Other Income / (Expense), net	0.68	3.13	2.53	3.09	4.41	1.56	3.51	4.48	3.49	4.40	3.45
Interest & Investment Income	0.68	-	2.53	3.09	4.41	-	3.51	4.48	3.49	-	3.45
Income Tax Expense	4.09	-16	3.62	-18	10	11	4.64	0.00	6.47	16	9.10
Basic Earnings per Share	$0.24	$1.42	$0.28	($1.55)	$0.76	$0.87	$1.02	$1.17	$1.17	$1.21	$0.83
Weighted Average Basic Shares Outstanding	38.46M	38.40M	38.72M	38.79M	38.61M	38.63M	38.56M	38.83M	39.08M	38.92M	39.28M
Diluted Earnings per Share	$0.23	$1.39	$0.28	($1.55)	$0.75	$0.88	$1.00	$1.15	$1.17	$1.20	$0.82
Weighted Average Diluted Shares Outstanding	39.22M	39.22M	39.39M	38.79M	39.18M	39.27M	39.16M	39.25M	39.30M	39.29M	39.54M
Weighted Average Basic & Diluted Shares Outstanding	38.60M	38.70M	38.76M	38.84M	38.38M	38.52M	38.73M	39.00M	39.16M	39.24M	39.33M

This table details how cash moves in and out of Penumbra's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	16	-6.31	37	19	4.93	-3.11	-10	10	98	157	-138
Net Cash From Operating Activities	-21	-13	13	29	27	-33	9.50	-56	97	168	239
Net Cash From Continuing Operating Activities	-21	-13	13	29	27	-33	9.50	-56	97	168	239
Net Income / (Loss) Continuing Operations	2.37	15	4.66	2.91	47	-19	2.62	-2.00	91	14	178
Consolidated Net Income / (Loss)	2.37	15	4.66	2.91	47	-19	2.62	-2.00	91	14	178
Depreciation Expense	1.75	2.30	3.78	6.17	8.10	13	16	24	27	24	17
Non-Cash Adjustments To Reconcile Net Income	9.00	18	21	48	26	39	72	41	75	167	65
Changes in Operating Assets and Liabilities, net	-34	-48	-17	-28	-54	-65	-82	-119	-96	-36	-21
Net Cash From Investing Activities	-86	0.69	-78	-0.39	-13	-104	-22	55	-16	78	-405
Net Cash From Continuing Investing Activities	-86	0.69	-78	-0.39	-13	-104	-22	55	-16	78	-405
Purchase of Property, Plant & Equipment	-5.47	-14	-13	-9.60	-22	-25	-21	-19	-15	-21	-64
Acquisitions	0.00	0.00	-17	-22	-	-	0.00	0.00	-0.99	-10	0.00
Purchase of Investments	-135	-63	-190	-108	-77	-153	-127	0.00	-82	-23	-356
Sale and/or Maturity of Investments	55	78	142	139	95	77	124	74	83	131	15
Other Investing Activities, net	-	-	0.00	0.00	-8.64	-3.06	-0.40	0.00	-0.50	1.10	0.00
Net Cash From Financing Activities	123	7.13	104	-9.82	-8.96	135	0.84	12	16	-87	27
Net Cash From Continuing Financing Activities	123	7.13	104	-9.82	-8.96	135	0.84	12	16	-87	27
Repayment of Debt	0.00	0.00	-1.08	-0.40	0.00	-2.21	-0.25	-0.14	-0.16	-0.06	-0.26
Repurchase of Common Equity	-	-	-	-	-	-	-	0.00	0.00	-100	0.00
Issuance of Common Equity	125	6.58	112	7.23	9.78	146	14	14	15	15	16
Other Financing Activities, net	-1.91	0.55	-6.64	-12	-17	-8.25	-13	-2.01	1.46	-1.86	10
Other Net Changes in Cash	-	-	-2.00	-	-	-	1.11	-0.27	0.17	-2.18	1.89

This table details how cash moves in and out of Penumbra's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-13	67	56	65	-7.86	44	52	46	-101	-134	54
Net Cash From Operating Activities	31	36	38	23	56	51	49	45	58	86	87
Net Cash From Continuing Operating Activities	31	36	38	23	56	51	49	45	58	86	87
Net Income / (Loss) Continuing Operations	9.21	54	11	-60	30	34	39	45	46	47	33
Consolidated Net Income / (Loss)	9.21	54	11	-60	30	34	39	45	46	47	33
Depreciation Expense	6.93	7.04	7.52	7.65	4.15	4.39	5.02	5.51	2.49	4.46	4.57
Non-Cash Adjustments To Reconcile Net Income	36	12	14	122	16	15	16	15	17	17	16
Changes in Operating Assets and Liabilities, net	-22	-37	5.85	-47	7.09	-1.77	-12	-21	-6.98	18	34
Net Cash From Investing Activities	-44	24	18	34	36	-11	-0.50	-16	-163	-226	-31
Net Cash From Continuing Investing Activities	-44	24	18	34	36	-11	-0.50	-16	-163	-226	-31
Purchase of Property, Plant & Equipment	-3.33	-3.65	-5.82	-4.54	-5.45	-5.37	-13	-16	-16	-18	-14
Purchase of Investments	-58	-8.57	-21	-0.04	-1.72	0.12	-0.04	-0.00	-147	-209	-141
Sale and/or Maturity of Investments	18	36	43	40	43	4.80	13	-	-	1.88	125
Other Investing Activities, net	-	-	2.10	-0.50	-	-0.50	0.00	-	-	-	-1.00
Net Cash From Financing Activities	0.21	5.92	-0.79	8.27	-101	6.07	2.71	15	3.95	5.06	-1.91
Net Cash From Continuing Financing Activities	0.21	5.92	-0.79	8.27	-101	6.07	2.71	15	3.95	5.06	-1.91
Repayment of Debt	-	-	-0.06	-	-	-	-0.26	-	-	-	0.00
Other Financing Activities, net	0.21	-0.59	-0.73	-0.59	-0.17	-0.37	2.96	5.95	3.95	-2.49	-1.91
Effect of Exchange Rate Changes	-0.07	-	-0.26	-0.14	0.51	-	0.47	1.53	-0.09	-	-0.04
Cash Income Taxes Paid	1.08	2.53	1.13	8.42	4.82	6.31	6.00	7.08	1.04	-	0.44

This table presents Penumbra's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	264	308	477	558	666	823	1,244	1,371	1,556	1,533	1,827
Total Current Assets	244	264	382	410	463	618	681	756	915	951	1,217
Cash & Equivalents	20	13	51	-	73	70	59	70	167	324	187
Short-Term Investments	129	116	164	-	117	-	195	118	122	16	358
Accounts Receivable	29	43	58	-	106	115	134	203	202	168	190
Inventories, net	57	73	95	-	153	220	264	334	388	407	432
Prepaid Expenses	9.35	19	15	12	15	19	29	30	36	37	50
Plant, Property, & Equipment, net	8.95	21	31	0.00	52	48	59	65	73	63	117
Total Noncurrent Assets	11	23	64	43	151	157	504	550	568	519	492
Noncurrent Note & Lease Receivables	-	-	-	-	40	38	36	33	31	28	26
Goodwill	-	0.00	8.18	-	7.66	8.37	166	166	166	166	167
Intangible Assets	-	0.00	24	-	25	11	91	81	71	6.51	6.19
Noncurrent Deferred & Refundable Income Taxes	10	22	27	-	31	50	66	64	85	100	79
Other Noncurrent Operating Assets	0.39	0.49	1.02	43	47	50	145	205	215	219	214
Total Liabilities & Shareholders' Equity	264	308	477	558	666	823	1,244	1,371	1,556	1,533	1,827
Total Liabilities	31	42	76	108	180	185	290	372	377	382	399
Total Current Liabilities	28	36	52	70	91	106	123	145	151	158	183
Accounts Payable	2.57	4.11	6.76	-	15	14	13	27	27	31	35
Accrued Expenses	26	32	45	58	68	86	100	106	111	112	132
Other Current Liabilities	-	-	-	3.61	8.31	6.03	9.98	12	13	15	16
Total Noncurrent Liabilities	3.18	5.91	25	47	89	79	167	227	226	224	216
Other Noncurrent Operating Liabilities	1.67	0.82	18	47	89	79	167	227	226	224	216
Commitments & Contingencies	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	233	267	400	0.00	486	638	954	999	1,179	1,151	1,428
Total Preferred & Common Equity	233	267	400	0.00	486	641	954	999	1,179	1,151	1,428
Total Common Equity	233	267	400	0.00	486	641	954	999	1,179	1,151	1,428
Common Stock	252	274	397	-	431	598	911	963	1,047	1,097	1,186
Retained Earnings	-17	-2.66	2.00	-	58	41	46	44	135	60	238
Accumulated Other Comprehensive Income / (Loss)	-2.12	-4.69	1.57	-	-2.32	2.54	-2.63	-8.12	-3.15	-5.84	4.35

This table presents Penumbra's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	1,322	1,395	1,433	1,468	1,580	1,535	1,479	1,593	1,675	1,744	1,898
Total Current Assets	724	786	828	868	935	944	892	1,000	1,065	1,142	1,275
Cash & Equivalents	55	95	114	101	223	288	280	376	422	321	241
Short-Term Investments	-	104	107	148	90	51	11	2.79	2.80	149	374
Accounts Receivable	189	207	209	207	192	201	176	168	176	183	183
Inventories, net	320	344	359	374	398	374	393	416	428	432	439
Prepaid Expenses	30	36	39	39	31	29	31	37	38	55	38
Plant, Property, & Equipment, net	64	65	66	66	76	58	60	72	85	98	134
Total Noncurrent Assets	534	544	539	534	569	533	527	521	525	505	489
Noncurrent Note & Lease Receivables	34	33	32	31	30	29	29	27	28	27	25
Goodwill	165	166	166	166	166	166	166	166	167	167	167
Intangible Assets	83	79	76	73	68	6.96	6.92	6.47	6.55	6.37	5.95
Noncurrent Deferred & Refundable Income Taxes	63	65	67	64	85	109	106	102	109	94	80
Other Noncurrent Operating Assets	188	201	198	199	220	222	219	219	214	211	211
Total Liabilities & Shareholders' Equity	1,322	1,395	1,433	1,468	1,580	1,535	1,479	1,593	1,675	1,744	1,898
Total Liabilities	348	371	366	364	376	373	375	380	381	386	425
Total Current Liabilities	138	146	144	145	153	151	153	159	158	170	212
Accounts Payable	25	28	26	28	32	33	33	31	28	30	44
Accrued Expenses	102	106	106	104	107	104	106	113	114	124	152
Other Current Liabilities	11	12	13	13	14	14	14	15	15	16	17
Total Noncurrent Liabilities	210	225	222	219	224	222	222	222	223	216	213
Other Noncurrent Operating Liabilities	210	225	222	219	224	222	222	222	223	216	213
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	974	1,024	1,067	1,104	1,204	1,161	1,104	1,213	1,294	1,359	1,474
Total Preferred & Common Equity	974	1,024	1,067	1,104	1,204	1,161	1,104	1,213	1,294	1,359	1,474
Total Common Equity	974	1,024	1,067	1,104	1,204	1,161	1,104	1,213	1,294	1,359	1,474
Common Stock	947	979	1,001	1,031	1,063	1,081	1,079	1,117	1,146	1,165	1,201
Retained Earnings	40	52	71	81	146	86	26	99	144	190	270
Accumulated Other Comprehensive Income / (Loss)	-13	-6.86	-5.58	-7.24	-4.84	-5.05	-0.96	-3.13	3.16	3.11	2.08

This table displays calculated financial ratios and metrics derived from Penumbra's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	48.27%	41.50%	26.75%	33.31%	23.03%	2.38%	33.40%	13.32%	24.95%	12.86%	17.50%
EBITDA Growth	54.10%	-98.08%	3,433.33%	33.52%	1,050.98%	-147.66%	122.38%	377.70%	278.93%	-58.31%	399.42%
EBIT Growth	29.00%	-191.65%	94.45%	-666.10%	3,586.80%	-183.09%	73.27%	137.06%	1,946.51%	-73.80%	882.92%
NOPAT Growth	14.13%	-138.48%	403.07%	-211.20%	1,498.49%	-161.20%	80.74%	40.42%	2,784.65%	-92.58%	2,531.30%
Net Income Growth	5.35%	526.38%	-68.56%	-37.51%	1,515.26%	-140.97%	113.62%	-176.32%	4,643.16%	-84.59%	1,168.11%
EPS Growth	144.44%	450.00%	-70.45%	38.46%	644.44%	-132.84%	131.82%	-135.71%	4,740.00%	-84.48%	1,155.56%
Operating Cash Flow Growth	-223.82%	38.10%	199.09%	127.00%	-7.48%	-224.73%	128.58%	-685.78%	274.87%	73.10%	41.66%
Free Cash Flow Firm Growth	25.76%	-63.23%	24.96%	-3.58%	29.48%	-891.99%	54.48%	15.63%	104.40%	1,583.40%	7.94%
Invested Capital Growth	76.05%	64.59%	32.04%	21.75%	33.72%	91.79%	23.05%	15.99%	9.73%	-8.87%	8.88%
Revenue Q/Q Growth	0.00%	7.64%	7.38%	5.89%	4.68%	4.02%	5.22%	2.07%	6.38%	2.65%	5.24%
EBITDA Q/Q Growth	0.00%	-97.34%	316.98%	460.84%	10.25%	-71.29%	-86.17%	244.85%	52.69%	59.83%	17.04%
EBIT Q/Q Growth	0.00%	-567.35%	96.78%	71.76%	10.64%	-44.66%	-136.75%	109.03%	83.72%	1,261.32%	18.71%
NOPAT Q/Q Growth	0.00%	-107.80%	206.47%	-24.14%	5.79%	-46.30%	-117.07%	88.48%	131.92%	72.79%	7.46%
Net Income Q/Q Growth	0.00%	-21.38%	168.26%	-47.37%	6.42%	-52.98%	-91.22%	93.44%	123.95%	-59.44%	8.33%
EPS Q/Q Growth	0.00%	-26.67%	161.90%	-25.00%	3.88%	-57.14%	-84.62%	93.98%	123.08%	-58.62%	7.62%
Operating Cash Flow Q/Q Growth	-14.77%	-21.88%	291.58%	41.42%	-9.40%	-25.95%	-43.06%	16.01%	55.96%	9.66%	17.40%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	25.84%	19.20%	-100.74%	-208.02%	-278.99%	78.25%	-94.93%	86.68%	18.78%
Invested Capital Q/Q Growth	0.00%	23.01%	10.26%	2.86%	8.71%	61.86%	67.37%	-11.76%	4.03%	-0.30%	-0.63%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	66.66%	64.88%	65.06%	65.75%	67.95%	60.34%	63.59%	63.18%	64.49%	63.20%	67.14%
EBITDA Margin	2.86%	0.04%	1.08%	1.08%	10.12%	-4.71%	0.79%	3.33%	10.10%	3.73%	15.86%
Operating Margin	2.25%	-0.51%	0.35%	-0.19%	8.68%	-6.95%	-1.00%	0.72%	6.95%	0.78%	13.48%
EBIT Margin	1.87%	-1.21%	-0.05%	-0.30%	8.64%	-7.01%	-1.40%	0.46%	7.52%	1.75%	14.61%
Profit (Net Income) Margin	1.27%	5.63%	1.40%	0.65%	8.59%	-3.44%	0.35%	-0.24%	8.59%	1.17%	12.66%
Tax Burden Percent	58.77%	-1,704.72%	188.09%	180.97%	93.75%	50.65%	-24.98%	-51.44%	114.19%	67.14%	86.62%
Interest Burden Percent	115.53%	27.22%	-1,398.87%	-118.58%	106.04%	96.77%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	41.23%	0.00%	-145.84%	-273.82%	6.25%	0.00%	0.00%	151.44%	-14.19%	32.86%	13.38%
Return on Invested Capital (ROIC)	3.74%	-0.85%	1.79%	-1.58%	17.21%	-6.31%	-0.83%	-0.41%	9.88%	0.73%	19.36%
ROIC Less NNEP Spread (ROIC-NNEP)	3.83%	-12.21%	0.76%	-4.49%	15.94%	-12.49%	-5.68%	-0.92%	6.96%	-1.74%	16.25%
Return on Net Nonoperating Assets (RNNOA)	-2.32%	6.79%	-0.40%	2.29%	-6.85%	2.88%	1.16%	0.21%	-1.52%	0.47%	-5.58%
Return on Equity (ROE)	1.43%	5.94%	1.40%	0.71%	10.35%	-3.43%	0.33%	-0.21%	8.35%	1.20%	13.78%
Cash Return on Invested Capital (CROIC)	-51.36%	-49.68%	-25.83%	-21.20%	-11.65%	-69.22%	-21.49%	-15.22%	0.60%	10.02%	10.86%
Operating Return on Assets (OROA)	1.81%	-1.12%	-0.05%	-0.27%	8.01%	-5.28%	-1.02%	0.30%	5.44%	1.35%	12.21%
Return on Assets (ROA)	1.23%	5.18%	1.19%	0.59%	7.96%	-2.59%	0.25%	-0.15%	6.21%	0.91%	10.58%
Return on Common Equity (ROCE)	0.95%	5.94%	1.40%	0.71%	10.35%	-3.44%	0.33%	-0.21%	8.35%	1.20%	13.78%
Return on Equity Simple (ROE_SIMPLE)	1.02%	5.56%	1.16%	0.69%	9.67%	-3.00%	0.28%	-0.20%	7.71%	1.22%	0.00%
Net Operating Profit after Tax (NOPAT)	2.46	-0.95	2.86	-3.18	45	-27	-5.25	-3.13	84	6.23	164
NOPAT Margin	1.32%	-0.36%	0.86%	-0.72%	8.14%	-4.86%	-0.70%	-0.37%	7.93%	0.52%	11.68%
Net Nonoperating Expense Percent (NNEP)	-0.09%	11.36%	1.03%	2.91%	1.26%	6.18%	4.85%	0.51%	2.92%	2.47%	3.11%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-0.31%	7.12%	0.54%	11.48%
Cost of Revenue to Revenue	33.34%	35.12%	34.94%	34.25%	32.05%	39.66%	36.41%	36.82%	35.51%	36.80%	32.86%
SG&A Expenses to Revenue	54.73%	56.32%	55.22%	50.88%	49.82%	51.22%	50.61%	53.09%	47.85%	48.05%	47.26%
R&D to Revenue	9.69%	9.07%	9.49%	15.06%	9.45%	16.07%	13.99%	9.37%	9.70%	7.93%	6.40%
Operating Expenses to Revenue	64.42%	65.39%	64.71%	65.94%	59.27%	67.29%	64.59%	62.46%	57.54%	62.42%	53.66%
Earnings before Interest and Taxes (EBIT)	3.48	-3.19	-0.18	-1.36	47	-39	-11	3.89	80	21	205
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5.32	0.10	3.60	4.81	55	-26	5.91	28	107	45	223
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.92	7.57	7.98	9.99	11.80	9.91	11.25	8.46	8.23	7.92	8.53
Price to Tangible Book Value (P/TBV)	6.92	7.57	8.67	10.89	12.67	10.21	15.40	11.24	10.31	9.31	9.70
Price to Revenue (P/Rev)	8.64	7.67	9.57	9.48	10.48	11.34	14.36	9.97	9.17	7.63	8.67
Price to Earnings (P/E)	1,483.74	136.28	685.77	638.73	118.36	0.00	2,031.40	0.00	106.74	650.46	68.52
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.07%	0.73%	0.15%	0.16%	0.84%	0.00%	0.05%	0.00%	0.94%	0.15%	1.46%
Enterprise Value to Invested Capital (EV/IC)	17.43	13.72	16.35	18.13	18.72	11.06	14.99	10.19	10.59	10.82	13.18
Enterprise Value to Revenue (EV/Rev)	7.84	7.18	8.91	9.03	10.13	11.21	14.02	9.75	8.90	7.34	8.29
Enterprise Value to EBITDA (EV/EBITDA)	274.46	18,530.64	825.52	834.49	100.13	0.00	1,774.31	292.80	88.11	196.86	52.25
Enterprise Value to EBIT (EV/EBIT)	419.06	0.00	0.00	0.00	117.29	0.00	0.00	2,122.47	118.26	420.44	56.70
Enterprise Value to NOPAT (EV/NOPAT)	594.27	0.00	1,038.80	0.00	124.51	0.00	0.00	0.00	112.15	1,408.33	70.95
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	234.43	139.39	208.08	0.00	1,102.83	0.00	96.77	52.08	48.73
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,861.37	103.00	126.50
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.60	-0.56	-0.52	-0.51	-0.43	-0.23	-0.20	-0.23	-0.22	-0.27	-0.34
Leverage Ratio	1.16	1.15	1.18	1.21	1.30	1.33	1.30	1.34	1.34	1.33	1.30
Compound Leverage Factor	1.34	0.31	-16.46	-1.43	1.38	1.28	1.30	1.34	1.34	1.33	1.30
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.04%	-0.06%	-0.58%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	99.96%	100.06%	100.58%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	32.45	30.74	26.66	29.00	20.94	21.93	23.35	14.83	17.00	15.81	20.31
Noncontrolling Interest Sharing Ratio	33.61%	0.00%	0.00%	0.02%	-0.01%	-0.36%	-0.23%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	8.68	7.37	7.41	6.22	5.09	5.83	5.53	5.21	6.06	6.01	6.64
Quick Ratio	6.33	4.81	5.28	4.28	3.24	1.74	3.16	2.70	3.25	3.21	4.01
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-34	-55	-41	-43	-30	-299	-136	-115	5.06	85	92
Operating Cash Flow to CapEx	-377.95%	-93.93%	101.27%	299.99%	120.55%	-134.28%	44.86%	-288.43%	639.80%	795.40%	374.50%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.97	0.92	0.85	0.90	0.93	0.75	0.72	0.65	0.72	0.77	0.84
Accounts Receivable Turnover	7.70	7.24	6.59	6.36	5.83	5.08	6.02	5.02	5.23	6.47	7.85
Inventory Turnover	1.38	1.43	1.39	1.45	1.31	1.19	1.13	1.04	1.04	1.11	1.10
Fixed Asset Turnover	26.34	17.31	12.75	13.42	12.55	11.21	13.97	13.68	15.37	17.65	15.59
Accounts Payable Turnover	25.24	27.70	21.46	20.41	15.07	15.21	19.78	15.56	13.96	15.03	13.96
Days Sales Outstanding (DSO)	47.42	50.44	55.41	57.38	62.61	71.81	60.68	72.67	69.85	56.44	46.51
Days Inventory Outstanding (DIO)	265.39	256.07	262.76	252.24	279.55	305.91	323.84	349.59	350.57	329.93	331.70
Days Payable Outstanding (DPO)	14.46	13.18	17.01	17.88	24.22	24.00	18.46	23.46	26.14	24.28	26.14
Cash Conversion Cycle (CCC)	298.35	293.34	301.17	291.74	317.93	353.73	366.06	398.80	394.28	362.09	352.06
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	84	138	182	222	296	568	699	811	890	811	883
Invested Capital Turnover	2.84	2.38	2.09	2.21	2.11	1.30	1.18	1.12	1.24	1.41	1.66
Increase / (Decrease) in Invested Capital	36	54	44	40	75	272	131	112	79	-79	72
Enterprise Value (EV)	1,460	1,890	2,975	4,016	5,546	6,281	10,479	8,261	9,419	8,774	11,631
Market Capitalization	1,608	2,019	3,194	4,216	5,735	6,354	10,734	8,449	9,709	9,114	12,176
Book Value per Share	$7.78	$8.42	$11.80	$12.24	$13.92	$17.67	$25.53	$26.30	$30.55	$29.99	$36.45
Tangible Book Value per Share	$7.78	$8.42	$10.86	$11.22	$12.97	$17.14	$18.65	$19.79	$24.40	$25.50	$32.04
Total Capital	233	267	400	422	486	638	954	999	1,179	1,151	1,428
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-149	-129	-218	-201	-189	-70	-255	-188	-289	-340	-545
Capital Expenditures (CapEx)	5.47	14	13	9.60	22	25	21	19	15	21	64
Debt-free, Cash-free Net Working Capital (DFCFNWC)	67	99	116	144	183	442	303	423	475	453	489
Debt-free Net Working Capital (DFNWC)	216	228	331	345	372	512	558	611	764	793	1,034
Net Working Capital (NWC)	216	228	331	345	372	512	558	611	764	793	1,034
Net Nonoperating Expense (NNE)	0.09	-16	-1.79	-6.09	-2.46	-8.00	-7.87	-1.13	-6.96	-7.78	-14
Net Nonoperating Obligations (NNO)	-149	-129	-218	-201	-189	-70	-255	-188	-289	-340	-545
Total Depreciation and Amortization (D&A)	1.84	3.29	3.78	6.17	8.10	13	16	24	27	24	17
Debt-free, Cash-free Net Working Capital to Revenue	36.22%	37.70%	34.77%	32.31%	33.38%	78.89%	40.58%	49.90%	44.88%	37.89%	34.82%
Debt-free Net Working Capital to Revenue	116.18%	86.60%	99.07%	77.46%	67.97%	91.32%	74.68%	72.10%	72.20%	66.36%	73.63%
Net Working Capital to Revenue	116.18%	86.60%	99.07%	77.46%	67.97%	91.32%	74.68%	72.10%	72.20%	66.36%	73.63%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.09	$0.49	$0.14	$0.19	$1.39	($0.44)	$0.14	$0.00	$2.37	$0.36	$4.57
Adjusted Weighted Average Basic Shares Outstanding	11.99M	30.46M	32.98M	34.14M	34.75M	35.77M	36.76M	0.00	38.40M	38.63M	38.92M
Adjusted Diluted Earnings per Share	$0.08	$0.44	$0.13	$0.18	$1.34	($0.44)	$0.14	$0.00	$2.32	$0.36	$4.52
Adjusted Weighted Average Diluted Shares Outstanding	14.22M	33.48M	35.32M	36.09M	36.27M	35.77M	37.88M	0.00	39.22M	39.27M	39.29M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	29.98M	31.94M	34.13M	34.65M	35.05M	36.45M	37.65M	0.00	38.70M	38.52M	39.24M
Normalized Net Operating Profit after Tax (NOPAT)	2.46	-0.95	0.82	-0.60	45	-27	-5.25	4.26	51	58	164
Normalized NOPAT Margin	1.32%	-0.36%	0.24%	-0.13%	8.14%	-4.86%	-0.70%	0.50%	4.86%	4.85%	11.68%
Pre Tax Income Margin	2.16%	-0.33%	0.74%	0.36%	9.16%	-6.78%	-1.40%	0.46%	7.52%	1.75%	14.61%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	153.99%	3.74%	-3.55%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	153.99%	3.74%	-3.55%	0.00%	0.00%	0.00%	716.44%	0.00%

This table displays calculated financial ratios and metrics derived from Penumbra's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	39,243,053.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	39,243,053.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.83
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	26.80%	28.69%	15.43%	14.49%	11.11%	10.83%	16.32%	13.38%	17.82%	22.14%	15.62%
EBITDA Growth	110.23%	213.78%	34.54%	-398.04%	102.02%	12.11%	131.22%	163.20%	29.90%	35.05%	-5.64%
EBIT Growth	310.17%	402.86%	51.11%	-552.57%	180.11%	22.11%	233.44%	150.43%	38.10%	38.48%	-5.24%
NOPAT Growth	315.04%	1,793.39%	14.86%	-426.43%	200.22%	-34.71%	296.43%	172.04%	63.03%	35.51%	-17.19%
Net Income Growth	505.72%	1,298.45%	28.50%	-417.51%	220.46%	-37.87%	256.51%	175.20%	55.29%	40.55%	-16.93%
EPS Growth	483.33%	1,163.64%	27.27%	-422.92%	226.09%	-36.69%	257.14%	174.19%	56.00%	36.36%	-18.00%
Operating Cash Flow Growth	338.93%	2,612.12%	191.68%	32.24%	83.07%	40.94%	27.88%	98.78%	3.18%	69.22%	77.60%
Free Cash Flow Firm Growth	114.32%	73.29%	-175.43%	-139.12%	-5.65%	482.25%	265.72%	78.54%	-147.38%	-125.08%	-93.74%
Invested Capital Growth	-6.92%	9.73%	7.84%	-2.83%	-4.91%	-8.87%	-6.29%	5.82%	9.24%	8.88%	2.89%
Revenue Q/Q Growth	3.61%	5.07%	-2.12%	7.45%	0.55%	4.81%	2.73%	4.72%	4.49%	8.66%	-2.76%
EBITDA Q/Q Growth	-20.49%	115.09%	-53.36%	-473.67%	153.89%	19.36%	-3.81%	2.14%	10.77%	24.10%	-32.79%
EBIT Q/Q Growth	-29.43%	177.46%	-65.45%	-769.04%	143.68%	20.96%	-5.67%	1.18%	19.62%	21.28%	-35.45%
NOPAT Q/Q Growth	-49.64%	469.23%	-81.71%	-722.60%	146.32%	23.79%	11.05%	13.14%	4.82%	2.89%	-32.13%
Net Income Q/Q Growth	-51.40%	488.43%	-79.71%	-647.17%	149.05%	14.08%	16.45%	15.42%	1.28%	3.25%	-31.17%
EPS Q/Q Growth	-52.08%	504.35%	-79.86%	-653.57%	148.39%	17.33%	13.64%	15.00%	1.74%	2.56%	-31.67%
Operating Cash Flow Q/Q Growth	80.38%	17.56%	5.61%	-40.96%	149.73%	-9.49%	-4.18%	-8.22%	29.63%	48.44%	0.56%
Free Cash Flow Firm Q/Q Growth	-13.50%	-140.29%	-90.63%	41.12%	308.62%	63.23%	-17.36%	-107.63%	-360.54%	13.58%	120.63%
Invested Capital Q/Q Growth	1.16%	4.03%	0.03%	-7.70%	-1.01%	-0.30%	2.87%	4.24%	2.19%	-0.63%	-2.79%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	65.59%	65.69%	65.00%	54.38%	66.54%	66.79%	66.60%	65.99%	67.78%	68.02%	67.62%
EBITDA Margin	7.22%	14.78%	7.04%	-24.49%	13.13%	14.95%	14.00%	13.65%	14.47%	16.53%	11.42%
Operating Margin	4.66%	12.30%	4.34%	-27.04%	11.75%	13.56%	12.45%	12.03%	13.77%	15.37%	10.20%
EBIT Margin	4.66%	12.30%	4.34%	-27.04%	11.75%	13.56%	12.45%	12.03%	13.77%	15.37%	10.20%
Profit (Net Income) Margin	3.40%	19.05%	3.95%	-20.11%	9.81%	10.68%	12.10%	13.34%	12.93%	12.28%	8.69%
Tax Burden Percent	69.26%	142.09%	75.22%	77.30%	74.23%	75.97%	89.43%	99.91%	87.63%	74.40%	78.16%
Interest Burden Percent	105.38%	108.93%	120.87%	96.19%	112.48%	103.66%	108.69%	110.98%	107.14%	107.43%	109.03%
Effective Tax Rate	30.74%	-42.09%	24.78%	0.00%	25.77%	24.03%	10.57%	0.00%	12.37%	25.66%	21.84%
Return on Invested Capital (ROIC)	3.62%	21.77%	4.17%	-25.75%	12.16%	14.47%	16.02%	18.21%	18.91%	18.94%	13.71%
ROIC Less NNEP Spread (ROIC-NNEP)	3.31%	19.90%	3.43%	-24.49%	10.95%	14.09%	15.11%	17.05%	18.11%	18.19%	13.16%
Return on Net Nonoperating Assets (RNNOA)	-0.48%	-4.36%	-0.79%	6.16%	-2.68%	-3.81%	-4.33%	-5.31%	-5.60%	-6.24%	-4.87%
Return on Equity (ROE)	3.14%	17.40%	3.38%	-19.58%	9.49%	10.66%	11.69%	12.90%	13.32%	12.70%	8.83%
Cash Return on Invested Capital (CROIC)	11.25%	0.60%	2.33%	1.09%	5.47%	10.02%	10.17%	10.41%	9.10%	10.86%	15.79%
Operating Return on Assets (OROA)	3.32%	8.90%	3.20%	-20.66%	9.28%	10.48%	9.73%	9.60%	11.39%	12.84%	8.50%
Return on Assets (ROA)	2.43%	13.77%	2.91%	-15.36%	7.75%	8.26%	9.46%	10.64%	10.70%	10.26%	7.24%
Return on Common Equity (ROCE)	3.14%	17.40%	3.38%	-19.58%	9.49%	10.66%	11.69%	12.90%	13.32%	12.70%	8.83%
Return on Equity Simple (ROE_SIMPLE)	3.68%	0.00%	7.76%	1.23%	3.13%	0.00%	3.48%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	8.74	50	9.10	-57	26	32	36	41	43	44	30
NOPAT Margin	3.23%	17.48%	3.27%	-18.93%	8.72%	10.30%	11.13%	12.03%	12.07%	11.43%	7.97%
Net Nonoperating Expense Percent (NNEP)	0.31%	1.86%	0.74%	-1.26%	1.21%	0.38%	0.91%	1.16%	0.80%	0.75%	0.54%
Return On Investment Capital (ROIC_SIMPLE)	-	4.22%	-	-	-	2.82%	2.98%	3.16%	3.15%	3.08%	2.03%
Cost of Revenue to Revenue	34.41%	34.31%	35.00%	45.62%	33.46%	33.21%	33.40%	34.01%	32.22%	31.98%	32.38%
SG&A Expenses to Revenue	46.47%	45.67%	51.82%	47.40%	46.42%	46.89%	47.34%	47.12%	47.62%	46.99%	51.45%
R&D to Revenue	14.46%	7.71%	8.84%	8.33%	8.37%	6.34%	6.81%	6.84%	6.39%	5.66%	5.97%
Operating Expenses to Revenue	60.93%	53.38%	60.66%	81.43%	54.79%	53.23%	54.15%	53.96%	54.01%	52.65%	57.42%
Earnings before Interest and Taxes (EBIT)	13	35	12	-81	35	43	40	41	49	59	38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	20	42	20	-73	40	47	45	46	51	64	43
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.42	8.23	7.16	6.01	6.84	7.92	8.49	7.68	7.27	8.53	8.74
Price to Tangible Book Value (P/TBV)	10.75	10.31	8.89	7.06	8.11	9.31	9.90	8.87	8.33	9.70	9.90
Price to Revenue (P/Rev)	9.34	9.17	7.86	6.15	6.49	7.63	8.31	7.76	7.41	8.67	8.86
Price to Earnings (P/E)	228.95	106.74	92.23	490.13	218.48	650.46	243.87	67.29	60.23	68.52	75.34
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.44%	0.94%	1.08%	0.20%	0.46%	0.15%	0.41%	1.49%	1.66%	1.46%	1.33%
Enterprise Value to Invested Capital (EV/IC)	10.58	10.59	9.33	8.08	8.92	10.82	11.89	10.94	10.59	13.18	14.30
Enterprise Value to Revenue (EV/Rev)	9.09	8.90	7.57	5.85	6.24	7.34	8.00	7.43	7.05	8.29	8.44
Enterprise Value to EBITDA (EV/EBITDA)	129.25	88.11	78.42	836.72	260.23	196.86	168.93	53.34	49.47	52.25	60.10
Enterprise Value to EBIT (EV/EBIT)	208.73	118.26	106.90	0.00	4,733.69	420.44	264.35	59.72	54.45	56.70	65.57
Enterprise Value to NOPAT (EV/NOPAT)	249.88	112.15	98.01	0.00	2,012.57	1,408.33	313.60	70.04	61.68	70.95	77.80
Enterprise Value to Operating Cash Flow (EV/OCF)	145.00	96.77	67.76	51.85	47.23	52.08	55.37	47.22	46.28	48.73	44.35
Enterprise Value to Free Cash Flow (EV/FCFF)	90.64	1,861.37	414.92	729.34	159.03	103.00	113.18	108.13	121.55	126.50	91.85
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.15	-0.22	-0.23	-0.25	-0.24	-0.27	-0.29	-0.31	-0.31	-0.34	-0.37
Leverage Ratio	1.34	1.34	1.34	1.33	1.33	1.33	1.31	1.31	1.31	1.30	1.30
Compound Leverage Factor	1.41	1.46	1.61	1.28	1.50	1.37	1.43	1.45	1.40	1.40	1.42
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	16.69	16.90	15.18	12.48	13.57	15.85	17.83	17.27	17.05	20.05	19.91
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.99	6.06	6.12	6.25	5.82	6.01	6.30	6.75	6.73	6.64	6.02
Quick Ratio	3.14	3.25	3.31	3.58	3.05	3.21	3.45	3.80	3.85	4.01	3.77
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	72	-29	-56	-33	68	111	92	-7.02	-32	-28	5.77
Operating Cash Flow to CapEx	925.69%	994.81%	657.54%	498.48%	1,035.90%	951.55%	363.63%	288.50%	358.56%	469.15%	636.17%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.71	0.72	0.74	0.76	0.79	0.77	0.78	0.80	0.83	0.84	0.83
Accounts Receivable Turnover	5.03	5.23	5.49	5.53	6.08	6.47	6.89	6.80	7.42	7.85	8.28
Inventory Turnover	1.04	1.04	1.03	1.16	1.13	1.11	1.11	1.07	1.07	1.10	1.11
Fixed Asset Turnover	15.34	15.37	15.55	18.33	18.54	17.65	16.73	17.96	16.92	15.59	14.08
Accounts Payable Turnover	13.53	13.96	12.63	14.50	14.15	15.03	14.16	14.09	14.06	13.96	12.68
Days Sales Outstanding (DSO)	72.56	69.85	66.51	65.97	60.01	56.44	52.98	53.66	49.19	46.51	44.08
Days Inventory Outstanding (DIO)	351.14	350.57	353.69	314.57	323.92	329.93	329.95	340.75	340.37	331.70	328.74
Days Payable Outstanding (DPO)	26.98	26.14	28.90	25.18	25.80	24.28	25.78	25.91	25.96	26.14	28.78
Cash Conversion Cycle (CCC)	396.72	394.28	391.31	355.36	358.12	362.09	357.15	368.49	363.60	352.06	344.04
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	855	890	890	822	813	811	834	869	888	883	858
Invested Capital Turnover	1.12	1.24	1.28	1.36	1.40	1.41	1.44	1.51	1.57	1.66	1.72
Increase / (Decrease) in Invested Capital	-64	79	65	-24	-42	-79	-56	48	75	72	24
Enterprise Value (EV)	9,049	9,419	8,300	6,637	7,257	8,774	9,921	9,514	9,409	11,631	12,271
Market Capitalization	9,298	9,709	8,614	6,977	7,548	9,114	10,300	9,938	9,879	12,176	12,886
Book Value per Share	$28.73	$30.55	$31.09	$29.96	$28.43	$29.99	$31.49	$33.41	$34.84	$36.45	$37.56
Tangible Book Value per Share	$22.50	$24.40	$25.03	$25.49	$23.97	$25.50	$27.01	$28.94	$30.40	$32.04	$33.16
Total Capital	1,104	1,179	1,204	1,161	1,104	1,151	1,213	1,294	1,359	1,428	1,474
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-249	-289	-313	-340	-291	-340	-379	-425	-470	-545	-616
Capital Expenditures (CapEx)	3.33	3.65	5.82	4.54	5.45	5.37	13	16	16	18	14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	475	475	469	453	448	453	462	483	502	489	448
Debt-free Net Working Capital (DFNWC)	723	764	782	793	739	793	841	908	972	1,034	1,064
Net Working Capital (NWC)	723	764	782	793	739	793	841	908	972	1,034	1,064
Net Nonoperating Expense (NNE)	-0.47	-4.45	-1.90	3.53	-3.28	-1.19	-3.14	-4.44	-3.06	-3.31	-2.70
Net Nonoperating Obligations (NNO)	-249	-289	-313	-340	-291	-340	-379	-425	-470	-545	-616
Total Depreciation and Amortization (D&A)	6.93	7.04	7.52	7.65	4.15	4.39	5.02	5.51	2.49	4.46	4.57
Debt-free, Cash-free Net Working Capital to Revenue	47.69%	44.88%	42.78%	39.97%	38.46%	37.89%	37.27%	37.74%	37.61%	34.82%	30.81%
Debt-free Net Working Capital to Revenue	72.70%	72.20%	71.38%	69.93%	63.46%	66.36%	67.82%	70.91%	72.87%	73.63%	73.14%
Net Working Capital to Revenue	72.70%	72.20%	71.38%	69.93%	63.46%	66.36%	67.82%	70.91%	72.87%	73.63%	73.14%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.24	$1.42	$0.28	($1.55)	$0.76	$0.87	$1.02	$1.17	$1.17	$1.21	$0.83
Adjusted Weighted Average Basic Shares Outstanding	38.46M	38.40M	38.72M	38.79M	38.61M	38.63M	38.56M	38.83M	39.08M	38.92M	39.28M
Adjusted Diluted Earnings per Share	$0.23	$1.39	$0.28	($1.55)	$0.75	$0.88	$1.00	$1.15	$1.17	$1.20	$0.82
Adjusted Weighted Average Diluted Shares Outstanding	39.22M	39.22M	39.39M	38.79M	39.18M	39.27M	39.16M	39.25M	39.30M	39.29M	39.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	38.60M	38.70M	38.76M	38.84M	38.38M	38.52M	38.73M	39.00M	39.16M	39.24M	39.33M
Normalized Net Operating Profit after Tax (NOPAT)	8.74	25	9.10	-2.81	26	32	36	29	43	44	30
Normalized NOPAT Margin	3.23%	8.61%	3.27%	-0.94%	8.72%	10.30%	11.13%	8.42%	12.07%	11.43%	7.97%
Pre Tax Income Margin	4.91%	13.40%	5.25%	-26.01%	13.21%	14.05%	13.53%	13.35%	14.75%	16.51%	11.12%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	716.44%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Penumbra (NYSE: PEN) continued to grow revenue in late 2025 while maintaining healthy gross margins and solid earnings per share. However, the company also shows substantial quarterly cash outflows from investing activities, which weighed on overall cash flow despite positive operating cash flow. Below are the key takeaways from the latest four years of quarterly statements, focusing on Q4 2025 and providing context from prior quarters.

Revenue growth: Q4 2025 operating revenue rose to $385.385 million from $315.518 million in Q4 2024 (+ about 22%).
Gross margin remains robust: Total Gross Profit was $262.128 million on $385.385 million of revenue (roughly 68% gross margin) in Q4 2025.
Earnings per share up: Basic EPS was $1.21 and Diluted EPS $1.20 in Q4 2025, up from $0.87 (basic) / $0.88 (diluted) in Q4 2024.
Net income progression: Net Income Attributable to Common Shareholders totaled $47.343 million in Q4 2025 vs $33.683 million in Q4 2024.
Operating margin solid: Total Operating Income was $59.233 million on $385.385 million of revenue (about 15.4% margin).
Strong operating cash flow: Net Cash From Continuing Operating Activities was $86.484 million in Q4 2025, reflecting healthy cash generation from operations.
Liquidity trend: Cash & equivalents have been in the roughly $320M–$420M range across 2025 quarters (example: $321.0M at Q3 2025 and $421.8M at Q2 2025), indicating a solid liquidity cushion.
Shareholder value signals: Consistent improvement in per-share metrics (Basic and Diluted EPS) alongside rising net income supports ongoing profitability delivery.

Investing activities are meaningfully negative: Net Cash From Continuing Investing Activities in Q4 2025 was -$225.647 million, with substantial purchases of investments and property, plant & equipment.
Free cash flow is not clearly positive this quarter due to heavy investing, even though operating cash flow remains positive.

Net cash change in the quarter: Net Change in Cash & Equivalents was -$134.132 million in Q4 2025, indicating the investing outlays exceeded the cash generated from operations for the quarter.
Investing cash outflows trend: The level of cash spent on investments and capex has been a recurring headwind in recent quarters, suggesting continued capital deployment rather than immediate cash preservation.
Cash flow volatility: The company exhibited notable quarterly fluctuations in cash flow, with large negative changes in cash in Q3 2025 and Q4 2025, underscoring the ongoing investment phase.

05/20/26 01:49 AM ETAI Generated. May Contain Errors.

Penumbra Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Penumbra's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Penumbra's net income appears to be on an upward trend, with a most recent value of $177.69 million in 2025, rising from $2.37 million in 2015. The previous period was $14.01 million in 2024. Check out Penumbra's forecast to explore projected trends and price targets.

Penumbra's total operating income in 2025 was $189.25 million, based on the following breakdown:

Total Gross Profit: $942.44 million
Total Operating Expenses: $753.19 million

Over the last 10 years, Penumbra's total revenue changed from $186.10 million in 2015 to $1.40 billion in 2025, a change of 654.3%.

Penumbra's total liabilities were at $398.92 million at the end of 2025, a 4.4% increase from 2024, and a 1,173.4% increase since 2015.

In the past 10 years, Penumbra's cash and equivalents has ranged from $0.00 in 2018 to $324.40 million in 2024, and is currently $186.90 million as of their latest financial filing in 2025.

Over the last 10 years, Penumbra's book value per share changed from 7.78 in 2015 to 36.45 in 2025, a change of 368.6%.

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Financial statements for NYSE:PEN last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Penumbra (PEN) Financials

Financials Breakdown Chart

Key Financial Trends

Penumbra Financials - Frequently Asked Questions

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Penumbra (PEN) Financials

Annual Income Statements for Penumbra

Quarterly Income Statements for Penumbra

Annual Cash Flow Statements for Penumbra

Quarterly Cash Flow Statements for Penumbra

Annual Balance Sheets for Penumbra

Quarterly Balance Sheets for Penumbra

Annual Metrics And Ratios for Penumbra

Quarterly Metrics And Ratios for Penumbra

Financials Breakdown Chart

Key Financial Trends

Penumbra Financials - Frequently Asked Questions

When does Penumbra's financial year end?

How has Penumbra's net income changed over the last 10 years?

What is Penumbra's operating income?

How has Penumbra's revenue changed over the last 10 years?

How much debt does Penumbra have?

How much cash does Penumbra have?

How has Penumbra's book value per share changed over the last 10 years?

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