ELV vs. PEN: Elevance Health vs. Penumbra Stock Comparison

November 11, 2026

How do Elevance Health (ELV) and Penumbra (PEN) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Elevance Health (ELV) and Penumbra (PEN) both fall under the Health Care Equipment & Services industry group, but ELV is classified in Health Care Providers & Services while PEN is classified in Health Care Equipment & Supplies.

Company profile comparison for Elevance Health (ELV) and Penumbra (PEN)
Profile Item	ELV	PEN
Name	Elevance Health, Inc.	Penumbra Inc.
Country/Region	United States	United States
GICS Sector	Health Care	Health Care
GICS Industry Group	Health Care Equipment & Services	Health Care Equipment & Services
GICS Industry	Health Care Providers & Services	Health Care Equipment & Supplies
GICS Sub-Industry	Managed Health Care	Health Care Equipment
Market Capitalization	91.96 billion USD	12.58 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	October 30, 2001	September 18, 2015
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ELV

PEN

GSPC

Elevance Health (ELV) vs. Penumbra (PEN), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Elevance Health (ELV) and Penumbra (PEN). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Elevance Health (ELV) and Penumbra (PEN). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Elevance Health (ELV) and Penumbra (PEN)
Metric	ELV	PEN
Total Return (1Y)	35.51%	20.52%
Total Return (3Y, Annualized)	-0.68%	20.38%
Total Return (5Y, Annualized)	1.10%	3.15%

Risk Profile

Drawdown History

ELV

PEN

GSPC

Elevance Health (ELV) vs. Penumbra (PEN), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Elevance Health (ELV) and Penumbra (PEN). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Elevance Health (ELV) and Penumbra (PEN)
Metric	ELV	PEN
Volatility (1Y, Annualized)	35.05%	19.78%
Beta (5Y)	0.61	0.68
Max Drawdown (5Y)	-50.38%	-59.60%
Avg. Volume (3M)	1.19M	348.64K

Risk-Adjusted Performance

Risk-Return Positioning

ELV and PEN are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Elevance Health (ELV) and Penumbra (PEN)
Metric	ELV	PEN
Sharpe Ratio (1Y)	0.89	0.82
Sortino Ratio (1Y)	1.25	1.56

Profitability

ROE (TTM)

Both Elevance Health (ELV) at 11.48% and Penumbra (PEN) at 10.67% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

ELV

Health Care Equipment & Services industry group

11.48%

Max: 47.61%
Q3: 14.36%
ELV: 11.48%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

PEN

Health Care Equipment & Services industry group

10.67%

Max: 47.61%
Q3: 14.36%
PEN: 10.67%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Elevance Health (ELV) vs. Penumbra (PEN): A comparison of their ROE against the Health Care Equipment & Services industry group benchmark.

Net Margin (TTM)

Penumbra (PEN) at 10.06% retains a top-quartile share of revenue as profit, ahead of Elevance Health (ELV) at 2.55%, which keeps about the industry-typical share.

ELV

Health Care Equipment & Services industry group

2.55%

Max: 29.35%
Q3: 9.33%
ELV: 2.55%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

PEN

Health Care Equipment & Services industry group

10.06%

Max: 29.35%
PEN: 10.06%
Q3: 9.33%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Elevance Health (ELV) vs. Penumbra (PEN): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

Both Elevance Health (ELV) at 4.22% and Penumbra (PEN) at 12.37% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

ELV

Health Care Equipment & Services industry group

4.22%

Max: 35.43%
Q3: 14.14%
Median: 6.81%
ELV: 4.22%
Q1: -0.28%
Min: -16.29%

PEN

Health Care Equipment & Services industry group

12.37%

Max: 35.43%
Q3: 14.14%
PEN: 12.37%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

Elevance Health (ELV) vs. Penumbra (PEN): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Elevance Health (ELV) and Penumbra (PEN)
Metric	ELV	PEN
ROE (TTM)	11.48%	10.67%
ROA (TTM)	4.01%	6.28%
Net Margin (TTM)	2.55%	10.06%
Operating Margin (TTM)	4.22%	12.37%
Gross Margin (TTM)	26.43%	67.99%

Growth

Revenue Growth

Both Elevance Health (ELV) at 12.62% and Penumbra (PEN) at 17.50% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Elevance Health (ELV) vs. Penumbra (PEN): A comparison of their Revenue Growth across different time periods.

EPS Growth

Penumbra (PEN) at 1,155.56% clears its industry range for EPS growth, a much stronger earnings trajectory than Elevance Health (ELV) at -1.83%, which is closer to a typical peer reading.

Elevance Health (ELV) vs. Penumbra (PEN): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Elevance Health (ELV) and Penumbra (PEN)
Metric	ELV	PEN
Revenue Growth (YoY)	12.62%	17.50%
Revenue Growth (3Y CAGR)	8.34%	18.33%
EPS Growth (YoY)	-1.83%	1,155.56%
EPS Growth (3Y CAGR)	0.53%	--

Financial Strength

Current Ratio (MRQ)

Elevance Health (ELV) at 1.47 keeps current ratio within its industry’s typical mid-range, while Penumbra (PEN) at 5.89 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

ELV

Health Care Equipment & Services industry group

1.47

Max: 7.59
Q3: 4.00
Median: 1.98
ELV: 1.47
Q1: 1.37
Min: 0.30

PEN

Health Care Equipment & Services industry group

5.89

Max: 7.59
PEN: 5.89
Q3: 4.00
Median: 1.98
Q1: 1.37
Min: 0.30

Elevance Health (ELV) vs. Penumbra (PEN): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

Penumbra (PEN) at 0.13 keeps leverage in the lower industry quartile, while Elevance Health (ELV) at 0.69 runs a more typical debt-to-equity mix.

ELV

Health Care Equipment & Services industry group

0.69

Max: 1.88
Q3: 0.91
ELV: 0.69
Median: 0.58
Q1: 0.16
Min: 0.00

PEN

Health Care Equipment & Services industry group

0.13

Max: 1.88
Q3: 0.91
Median: 0.58
Q1: 0.16
PEN: 0.13
Min: 0.00

Elevance Health (ELV) vs. Penumbra (PEN): A comparison of their debt-to-equity ratio against the Health Care Equipment & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Elevance Health (ELV) and Penumbra (PEN)
Metric	ELV	PEN
Current Ratio (MRQ)	1.47	5.89
Debt / Equity (MRQ)	0.69	0.13
Net Debt / EBITDA	-0.81	-2.22

Dividends

Dividend Yield (TTM)

Penumbra (PEN) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Elevance Health (ELV) reports a yield of 1.59%, ranking against industry peers normally.

ELV

Health Care Equipment & Services industry group

1.59%

ELV: 1.59%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

PEN

Health Care Equipment & Services industry group

0.00%

PEN: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Elevance Health (ELV) vs. Penumbra (PEN): A comparison of their dividend yield against the Health Care Equipment & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Penumbra (PEN) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Elevance Health (ELV) reports a payout of 29.17%, ranking against industry peers normally.

ELV

Health Care Equipment & Services industry group

29.17%

ELV: 29.17%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

PEN

Health Care Equipment & Services industry group

0.00%

PEN: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Elevance Health (ELV) vs. Penumbra (PEN): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Elevance Health (ELV) and Penumbra (PEN)
Metric	ELV	PEN
Dividend Yield (TTM)	1.59%	0.00%
Dividend Payout Ratio (TTM)	29.17%	0.00%

Valuation

P/E Ratio (TTM)

Elevance Health (ELV) at 18.07 sits in the cheaper P/E ratio quartile, while Penumbra (PEN) at 80.41 sits in the richer quartile — a clear split in what investors pay for each dollar of trailing earnings.

ELV

Health Care Equipment & Services industry group

18.07

Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
ELV: 18.07
Min: 4.21

PEN

Health Care Equipment & Services industry group

80.41

PEN: 80.41
Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
Min: 4.21

Elevance Health (ELV) vs. Penumbra (PEN): A comparison of their P/E ratio against the Health Care Equipment & Services industry group benchmark.

P/S Ratio (TTM)

Elevance Health (ELV) at 0.46 looks cheap on sales in the lower P/S ratio quartile, while Penumbra (PEN) at 8.06 looks rich in the upper quartile — a clear gap in price per dollar of revenue.

ELV

Health Care Equipment & Services industry group

0.46

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
ELV: 0.46
Min: 0.03

PEN

Health Care Equipment & Services industry group

8.06

Max: 8.80
PEN: 8.06
Q3: 4.32
Median: 2.13
Q1: 1.10
Min: 0.03

Elevance Health (ELV) vs. Penumbra (PEN): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

Elevance Health (ELV) at 2.06 is valued about in line with its industry on P/B ratio, while Penumbra (PEN) at 7.95 carries an above-peer premium to book — PEN is pricier on assets.

ELV

Health Care Equipment & Services industry group

2.06

Max: 11.68
Q3: 6.12
Median: 3.00
ELV: 2.06
Q1: 1.73
Min: -1.31

PEN

Health Care Equipment & Services industry group

7.95

Max: 11.68
PEN: 7.95
Q3: 6.12
Median: 3.00
Q1: 1.73
Min: -1.31

Elevance Health (ELV) vs. Penumbra (PEN): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Elevance Health (ELV) and Penumbra (PEN)
Metric	ELV	PEN
P/E Ratio (TTM)	18.07	80.41
P/S Ratio (TTM)	0.46	8.06
P/B Ratio (MRQ)	2.06	7.95
Free Cash Flow Yield (TTM)	8.69%	1.32%