Penumbra Inc
NYSE: PEN · HEALTHCARE · MEDICAL DEVICES
Updated 2026-06-05
Penumbra Inc (PEN) Financial statements
SEC filings — annual and quarterly data.
Margin trends — annual
| Year | Revenue | Net income | Gross margin | Op. margin | Profit margin |
|---|---|---|---|---|---|
| 2012 | $73.14M | $1.96M | 66.94% | 4.69% | 2.68% |
| 2013 | $88.85M | $4.10M | 65.14% | -1.27% | 4.61% |
| 2014 | $125.51M | $2.25M | 66.00% | 2.40% | 1.79% |
| 2015 | $186.09M | $2.37M | 66.66% | 2.25% | 1.27% |
| 2016 | $263.32M | $14.81M | 64.88% | -0.51% | 5.63% |
| 2017 | $333.76M | $4.66M | 65.06% | 0.35% | 1.40% |
| 2018 | $444.94M | $6.60M | 65.75% | -0.19% | 1.48% |
| 2019 | $547.40M | $48.46M | 67.95% | 8.68% | 8.85% |
| 2020 | $560.41M | $-19.26M | 60.34% | -6.95% | -3.44% |
| 2021 | $747.59M | $2.62M | 63.59% | -1.00% | 0.35% |
| 2022 | $847.13M | $-2.00M | 63.18% | 0.72% | -0.24% |
| 2023 | $1.06B | $90.95M | 64.49% | 6.95% | 8.59% |
| 2024 | $1.19B | $14.01M | 63.20% | 0.78% | 1.17% |
| 2025 | $1.40B | $177.69M | 67.14% | 13.48% | 12.66% |
Frequently asked questions
What is Penumbra Inc's revenue?
Penumbra Inc's trailing twelve-month revenue is $1.45B, and consensus projects about $3.10B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is PEN?
In its most recent fiscal year, PEN ran a gross margin of 67.14%, an operating margin of 13.48%, and a net margin of 12.66%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does PEN generate?
PEN produced $174.93M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is PEN's balance sheet healthy?
PEN holds $186.90M in cash and equivalents against — in long-term debt, on $1.43B of shareholder equity. That debt is best read against the cash flow the business throws off each year.