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Penumbra PEN Gross margin

Gross margin at other companies

Johnson & Johnson logo
Johnson & JohnsonJNJ
67.8%-0.5pp
Stryker logo
StrykerSYK
63.8%-0.1pp
Medtronic logo
MedtronicMDT
65%-0.3pp
Boston Scientific logo
Boston ScientificBSX
69.2%+0.5pp

Other financials

Income statement

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Revenue$374.8M+15.6%
Gross profit$253.4M+17.4%
Operating income$38.2M-5.2%
Net income$32.6M-16.9%
EPS (diluted)$0.82-18.0%

Balance sheet

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Cash & equivalents$241.3M-35.8%
Total debt$216.2M-2.0%
Total equity$1.5B+21.5%
Total assets$1.9B+19.2%

Cash flow

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Operating cash flow$87.0M+77.6%
CapEx$13.7M+1.5%
Free cash flow$73.3M+106%

Valuation

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Market cap$12.48B+25.1%
Enterprise value$12.45B+26.8%
P/E72.9×-163×
P/S8.6×+0.5×

Profitability

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Operating margin12.9%+9.8pp
Net margin11.8%+8.4pp
FCF margin14.6%+2.5pp

Returns & leverage

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Return on equity12.7%+9.2pp
Debt / equity0.1×0.0×
Current ratio-0.3×

Where this comes from

Calculated from Penumbra’s reported figures.

Based on trailing twelve months.

The official record: Penumbra’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Penumbra's gross margin?
Penumbra (PEN) reported gross margin of 67.4% in Q1 2026.
How has Penumbra's gross margin changed year-over-year?
Penumbra's gross margin increased by 5.8% year-over-year, from 63.7% to 67.4%.
What is the long-term trend for Penumbra's gross margin?
Over 5 years (2020 to 2025), Penumbra's gross margin has grown at a 2.2% compound annual growth rate (CAGR), from 60.3% to 67.1%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.