Penumbra Inc PEN

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical and Medical Instrument Manufacturing derived NYSE

References herein to "we," "us," "our," the "Company," and "Penumbra," refer to Penumbra, Inc. and its consolidated subsidiaries unless expressly indicated or the context requires otherwise.

Penumbra, the world's leading thrombectomy company, is focused on developing the most innovative technologies for challenging medical conditions such as ischemic stroke, venous thromboembolism such as pulmonary embolism, and acute limb ischemia. Our broad portfolio, which includes computer assisted vacuum thrombectomy (CAVT), centers on removing blood clots from head-to-toe with speed, safety, and simplicity. Our team focuses on developing, manufacturing and marketing novel products for use by specialist physicians and other healthcare providers to drive improved clinical and health outcomes. We believe that the cost-effectiveness of our products is attractive to our customers.

Last close 324.39 2026-10-23
Market cap $12.78B 2026-06-30 share count
52-week range 221.26 - 362.41

Valuation FY2025 figures against the last close

P/S9.1x
P/E71.8x
P/FCF73.0x
EV/EBITDA61.8x
Dividend yield—
Diluted EPS4.52

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • International
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 1.1B (77.8%) 78% United States International, FY2025: 311.9M (22.2%) 22% International FY2024 United States, FY2024: 902.1M (75.5%) 76% International, FY2024: 292.5M (24.5%) 24% FY2023 United States, FY2023: 757.2M (71.5%) 72% International, FY2023: 301.4M (28.5%) 28%
Region FY2025FY2024FY2023
United States $1.09B $902.1M $757.2M
International $311.9M $292.5M $301.4M

As the company reported it, from the “Revenues - Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.40B$1.19B$1.06B$847.1M$747.6M$560.4M$547.4M$444.9M$333.8M$263.3M
Cost of revenue $461.2M$439.6M$375.9M$311.9M$272.2M$222.2M$175.4M$152.4M$116.6M$92.5M
Gross profit $942.4M$755.0M$682.6M$535.2M$475.4M$338.2M$372.0M$292.5M$217.1M$170.8M
R&D ———————$36.2M$31.7M$23.9M
SG&A $663.4M$574.0M$506.5M$449.7M$378.3M$287.1M$272.7M$226.4M$184.3M$148.3M
Total operating expenses $753.2M$745.7M$609.1M$529.1M$482.9M$377.1M$324.5M$293.4M$216.0M$172.2M
Operating income $189.2M$9.3M$73.6M$6.1M-$7.5M-$38.9M$47.5M-$852.0K$1.2M-$1.4M
Interest expense $1.3M$1.4M$1.7M$1.7M$1.9M—————
Pre-tax income $205.1M$20.9M$79.7M$3.9M-$10.5M-$38.0M$50.1M$1.6M$2.5M-$869.0K
Income tax $27.4M$6.9M$11.3M$5.9M$13.1M$18.8M$3.1M$4.4M$3.6M$15.7M
Net income $177.7M$14.0M$91.0M-$2.0M$5.3M-$15.7M$48.5M$6.6M$4.7M$14.8M
EPS, basic 4.570.362.37-0.050.14-0.441.390.190.140.49
EPS, diluted 4.520.362.32-0.050.14-0.441.340.180.130.44
Shares, diluted (wtd. avg.) 39.3M39.3M39.2M37.8M37.9M35.8M36.3M36.1M35.3M33.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $186.9M$324.4M$167.5M$69.9M$59.4M$69.7M$72.8M$67.8M$50.6M$13.2M
Short-term investments $357.9M$15.7M$121.7M$118.2M$195.5M$195.2M————
Receivables $190.0M$167.7M$201.8M$203.4M$133.9M$114.6M$105.9M$81.9M$58.0M$43.3M
Inventory $431.5M$406.7M$388.0M$334.0M$263.5M$219.5M$153.0M$115.7M$94.9M$73.0M
Total current assets $1.22B$951.1M$915.4M$755.7M$681.5M$617.7M$463.1M$410.7M$382.2M$263.8M
Property, plant and equipment $117.4M$62.6M$72.7M$65.0M$58.9M$48.2M$51.8M$35.4M$30.9M$21.5M
Goodwill $166.8M$165.8M$166.3M$166.0M$166.4M$8.4M$7.7M$7.8M$8.2M$0
Other intangibles $6.2M$6.5M$71.1M$81.2M$90.6M$10.6M$25.4M$27.2M$23.8M$0
Total assets $1.83B$1.53B$1.56B$1.37B$1.24B$823.0M$665.9M$515.0M$476.7M$308.3M
Accounts payable $34.7M$31.3M$27.2M$26.7M$13.4M$14.1M$15.1M$8.2M$6.8M$4.1M
Total current liabilities $183.1M$158.3M$151.1M$144.9M$123.2M$105.9M$91.0M$66.1M$51.6M$35.8M
Total liabilities $398.9M$382.2M$377.4M$372.0M$290.3M$185.2M$180.3M$92.6M$76.3M$41.7M
Retained earnings $237.7M$60.0M$134.9M$43.9M$45.9M$40.6M$57.5M$9.1M$2.0M-$2.7M
Total equity $1.43B$1.15B$1.18B$998.9M$953.9M$637.8M$485.6M$422.4M$400.4M$266.5M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $238.7M$168.5M$97.3M-$55.7M$9.5M-$33.2M$26.7M$28.8M$12.7M-$12.8M
Depreciation and amortisation $17.5M$23.7M$27.3M$24.3M$16.4M$12.9M$8.1M$6.2M$3.8M$2.3M
Stock-based compensation $59.2M$46.2M$50.5M$37.4M$65.8M$25.5M$21.5M$18.4M$17.8M$14.6M
Capital expenditure $63.7M$21.2M$15.2M$19.3M$21.2M$24.8M$22.1M$9.6M$12.5M$13.6M
Investing cash flow -$404.6M$77.6M-$16.1M$54.8M-$21.7M-$104.1M-$12.7M-$385.0K-$77.7M$687.0K
Financing cash flow $26.5M-$87.0M$16.2M$11.6M$836.0K$134.9M-$9.0M-$9.8M$104.4M$7.1M
Buybacks $0$100.4M$0$0——————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001321732-26-000010.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B 1.5B Revenue, FY2016: 263.3M Gross profit, FY2016: 170.8M Net income, FY2016: 14.8M Revenue, FY2017: 333.8M Gross profit, FY2017: 217.1M Net income, FY2017: 4.7M Revenue, FY2018: 444.9M Gross profit, FY2018: 292.5M Net income, FY2018: 6.6M Revenue, FY2019: 547.4M Gross profit, FY2019: 372M Net income, FY2019: 48.5M Revenue, FY2020: 560.4M Gross profit, FY2020: 338.2M Net income, FY2020: -15.7M Revenue, FY2021: 747.6M Gross profit, FY2021: 475.4M Net income, FY2021: 5.3M Revenue, FY2022: 847.1M Gross profit, FY2022: 535.2M Net income, FY2022: -2M Revenue, FY2023: 1.1B Gross profit, FY2023: 682.6M Net income, FY2023: 91M Revenue, FY2024: 1.2B Gross profit, FY2024: 755M Net income, FY2024: 14M Revenue, FY2025: 1.4B Gross profit, FY2025: 942.4M Net income, FY2025: 177.7M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $263.3M $333.8M $444.9M $547.4M $560.4M $747.6M $847.1M $1.06B $1.19B $1.40B
Gross profit $170.8M $217.1M $292.5M $372.0M $338.2M $475.4M $535.2M $682.6M $755.0M $942.4M
Net income $14.8M $4.7M $6.6M $48.5M -$15.7M $5.3M -$2.0M $91.0M $14.0M $177.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Shareholder vote Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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