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Maker of devices for treating stroke, pulmonary embolism and other vascular conditions via mechanical thrombectomy (clot removal).
Maker of devices for treating stroke, pulmonary embolism and other vascular conditions via mechanical thrombectomy (clot removal).
Sells single-use devices, used once per procedure, direct to hospitals through its own sales force, with clinicians trained on its aspiration systems, so revenue repeats as procedure volumes grow. Neurovascular and peripheral vascular are its two product groups, and the US is the largest market.
Moat: narrow (IP / patents, switching costs, brand). Strong clinician relationships and proprietary aspiration-thrombectomy technology in a growing niche.
Headquarters: Alameda, California, USA · Founded: 2004 · Employees: 4,700
Size Penumbra (PEN) is a United States Health Care company (Medical Specialties) with a market value of $12.6B, the 677th largest of 3,117 United States companies the cockpit tracks. Shares closed at $319.21 on 6 Nov 2026.
Performance Over six months the shares fell 0.9%, against +36.2% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 17.0% over the last twelve months (peer median +4.5%); the operating margin is 12.1% (peer median 15.7%).
Valuation It trades at 54.9× forward earnings against a peer median of 20.4× (3rd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 30% a year for seven years (Req g). Recent delivered growth is +20%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.0 points above its cost of capital (8.3% WACC).
Short interest Short interest is 5.7% of the free float (15 Oct 2026).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.56B | $1.40B | $1.19B | $1.06B | $847M |
| Revenue growth | — | +17% | +13% | +25% | — |
| Gross profit | $1.04B | $922M | $750M | $673M | $526M |
| EBITDA | $209M | $210M | $113M | $122M | $33.7M |
| Net income | $157M | $178M | $14.0M | $91.0M | -$2.00M |
| Free cash flow | $200M | $175M | $147M | $82.1M | -$75.0M |
| Capital expenditure | $60.8M | $63.7M | $21.2M | $15.2M | $19.3M |
| Total debt | $209M | $220M | $223M | $234M | $236M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Penumbra PEN | $12.6B | -1% | +17% | 12% | 54.9× | 30.1% |
| Stryker SYK | $124B | +14% | +8% | 25% | 20.4× | 10.6% |
| Medtronic MDT | $130B | +35% | +10% | 20% | 16.9× | 8.6% |
| Johnson & Johnson JNJ | $665B | +26% | +8% | 26% | 24.5× | 3.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PEN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.5% | +10.8% | 4th lowest of 21 |
| 6-month return | -0.9% | +36.2% | 4th lowest of 21 |
| Distance from 52-week high | -11.9% | -13.5% | 9th highest of 21 |
| Revenue growth (TTM) | +17.0% | +4.5% | 6th highest of 21 |
| Operating margin | 12.1% | 15.7% | 8th lowest of 21 |
| Forward P/E | 54.9× | 20.4× | 3rd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 30.1% | 10.7% | 2nd most demanding of 19 |
| Growth delivered (Del g) | +20.2% | +8.5% | 4th highest of 19 |
| Hurdle (Req g minus delivered) | +9.9 pp | +4.4 pp | 8th most demanding of 19 |
| ROIC minus cost of capital | +5.0 pp | +1.0 pp | 5th highest of 21 |
| EV / EBITDA | 57.9× | 14.2× | most expensive of 18 |
| Net debt / EBITDA | -2.2× | 1.8× | least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Penumbra PEN | United States | $12.6B | -1% | +17% | 12% | 54.9× | 30.1% | +20.2% |
| bioMerieux BIM.PA | France | $12.4B | +29% | -3% | 15% | 20.9× | 8.9% | +5.5% |
| Olympus 7733.T | Japan | $12.2B | +13% | +8% | 16% | 18.0× | -1.5% | +6.7% |
| Smith & Nephew SN..L | United Kingdom | $13.1B | +5% | +2% | 17% | 14.4× | 11.1% | +5.6% |
| Glaukos GKOS | United States | $13.3B | +68% | +47% | -9% | 155.4× | n/a | n/a |
| Baxter International BAX | United States | $13.3B | +43% | +5% | 6% | 12.6× | 12.7% | -0.7% |
| Cooper Companies (The) COO | United States | $11.9B | +4% | +5% | 19% | 13.8× | 9.4% | +11.0% |
| Lenskart Solutions LENSKART.NS | India | $13.4B | +49% | +35% | 10% | 137.4× | 52.8% | +33.5% |
| Align Technology ALGN | United States | $11.8B | -2% | +4% | 19% | 13.9× | 11.4% | +10.3% |
| Demant A/S DEMANT.CO | Denmark | $11.6B | +62% | +10% | 18% | 25.7× | 6.8% | +9.8% |
| Shanghai United Imaging Healthcare 688271.SS | China | $14.8B | +9% | +27% | 9% | 46.9× | n/a | n/a |
| Avantor AVTR | United States | $10.5B | +86% | +1% | 8% | 17.7× | 16.1% | +0.5% |
| Qiagen QGEN | United States | $10.4B | +52% | +3% | 25% | 19.8× | 8.8% | +2.2% |
| Bio-Rad Laboratories BIO | United States | $10.3B | +50% | +1% | 9% | 35.7× | 26.5% | +0.3% |
| Insulet PODD | United States | $10.2B | -5% | +26% | 18% | 19.5× | 10.3% | +24.5% |
| Globus Medical GMED | United States | $9.54B | -9% | +20% | 22% | 14.1× | 5.5% | +30.1% |
| Bruker BRKR | United States | $9.34B | +39% | +2% | 9% | 26.2× | 25.7% | +11.6% |
| Revvity RVTY | United States | $17.3B | +54% | +5% | 15% | 26.7× | 27.3% | -5.5% |
| Coloplast A/S COLO-B.CO | Denmark | $17.7B | +26% | +4% | 25% | 19.9× | -1.8% | +8.3% |
| Sartorius SRT.DE | Germany | $20.0B | +34% | +4% | 18% | 42.6× | 24.9% | +8.7% |
| Sysmex 6869.T | Japan | $7.89B | +50% | +4% | 13% | 31.2× | 4.4% | +10.4% |