Penumbra Inc PEN
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.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 4.57 | 0.36 | 2.37 | -0.05 | 0.14 | -0.44 | 1.39 | 0.19 | 0.14 | 0.49 |
| EPS, diluted | 4.52 | 0.36 | 2.32 | -0.05 | 0.14 | -0.44 | 1.34 | 0.18 | 0.13 | 0.44 |
| Shares, diluted (wtd. avg.) | $39.3M | $39.3M | $39.2M | $37.8M | $37.9M | $35.8M | $36.3M | $36.1M | $35.3M | $33.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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.
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