EW vs. PEN: Edwards Lifesciences vs. Penumbra Stock Comparison

November 11, 2026

How do Edwards Lifesciences (EW) 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

Edwards Lifesciences (EW) and Penumbra (PEN) are both classified in the Health Care Equipment sub-industry within the broader Health Care Equipment & Supplies industry, placing them in the closest GICS peer bucket.

Company profile comparison for Edwards Lifesciences (EW) and Penumbra (PEN)
Profile Item	EW	PEN
Name	Edwards Lifesciences Corporation	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 Equipment & Supplies	Health Care Equipment & Supplies
GICS Sub-Industry	Health Care Equipment	Health Care Equipment
Market Capitalization	58.73 billion USD	12.58 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 27, 2000	September 18, 2015
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

PEN

GSPC

Edwards Lifesciences (EW) 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 Edwards Lifesciences (EW) and Penumbra (PEN). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Edwards Lifesciences (EW) and Penumbra (PEN). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Edwards Lifesciences (EW) and Penumbra (PEN)
Metric	EW	PEN
Total Return (1Y)	25.08%	20.52%
Total Return (3Y, Annualized)	17.28%	20.38%
Total Return (5Y, Annualized)	-2.77%	3.15%

Risk Profile

Drawdown History

PEN

GSPC

Edwards Lifesciences (EW) 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 Edwards Lifesciences (EW) and Penumbra (PEN). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Edwards Lifesciences (EW) and Penumbra (PEN)
Metric	EW	PEN
Volatility (1Y, Annualized)	25.58%	19.78%
Beta (5Y)	0.78	0.68
Max Drawdown (5Y)	-54.32%	-59.60%
Avg. Volume (3M)	3.69M	348.64K

Risk-Adjusted Performance

Risk-Return Positioning

EW 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 Edwards Lifesciences (EW) and Penumbra (PEN)
Metric	EW	PEN
Sharpe Ratio (1Y)	0.81	0.82
Sortino Ratio (1Y)	1.23	1.56

Profitability

ROE (TTM)

Both Edwards Lifesciences (EW) at 9.33% 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.

EW

Health Care Equipment & Services industry group

9.33%

Max: 47.61%
Q3: 14.36%
EW: 9.33%
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%

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

Net Margin (TTM)

For every dollar of sales, both Edwards Lifesciences (EW) at 15.30% and Penumbra (PEN) at 10.06% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

EW

Health Care Equipment & Services industry group

15.30%

Max: 29.35%
EW: 15.30%
Q3: 9.33%
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%

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

Operating Margin (TTM)

Edwards Lifesciences (EW) at 30.15% operates in the top operating margin quartile, ahead of Penumbra (PEN) at 12.37%, which runs around its industry’s norm.

EW

Health Care Equipment & Services industry group

30.15%

Max: 35.43%
EW: 30.15%
Q3: 14.14%
Median: 6.81%
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%

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

Profitability Metrics

Profitability metrics for Edwards Lifesciences (EW) and Penumbra (PEN)
Metric	EW	PEN
ROE (TTM)	9.33%	10.67%
ROA (TTM)	8.77%	6.28%
Net Margin (TTM)	15.30%	10.06%
Operating Margin (TTM)	30.15%	12.37%
Gross Margin (TTM)	78.02%	67.99%

Growth

Revenue Growth

Both Edwards Lifesciences (EW) at 11.55% 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.

Edwards Lifesciences (EW) vs. Penumbra (PEN): A comparison of their Revenue Growth across different time periods.

EPS Growth

Penumbra (PEN) at 1,155.56% delivers above-range EPS growth, while Edwards Lifesciences (EW) at -73.74% falls into the bottom quartile — a wide split in earnings momentum.

Edwards Lifesciences (EW) vs. Penumbra (PEN): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Edwards Lifesciences (EW) and Penumbra (PEN)
Metric	EW	PEN
Revenue Growth (YoY)	11.55%	17.50%
Revenue Growth (3Y CAGR)	10.77%	18.33%
EPS Growth (YoY)	-73.74%	1,155.56%
EPS Growth (3Y CAGR)	-9.14%	--

Financial Strength

Current Ratio (MRQ)

Both Edwards Lifesciences (EW) at 4.60 and Penumbra (PEN) at 5.89 post current ratio above their industries’ typical mid-ranges — short-term liquidity appears comfortable, though unusually high readings can point to idle current assets.

EW

Health Care Equipment & Services industry group

4.60

Max: 7.59
EW: 4.60
Q3: 4.00
Median: 1.98
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

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

Debt / Equity (MRQ)

Both Edwards Lifesciences (EW) at 0.06 and Penumbra (PEN) at 0.13 keep leverage in the lower quartile of their industries, with less balance-sheet debt relative to equity than most peers.

EW

Health Care Equipment & Services industry group

0.06

Max: 1.88
Q3: 0.91
Median: 0.58
Q1: 0.16
EW: 0.06
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

Edwards Lifesciences (EW) 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 Edwards Lifesciences (EW) and Penumbra (PEN)
Metric	EW	PEN
Current Ratio (MRQ)	4.60	5.89
Debt / Equity (MRQ)	0.06	0.13
Net Debt / EBITDA	-1.88	-2.22

Dividends

Dividend Yield (TTM)

Neither Edwards Lifesciences (EW) nor Penumbra (PEN) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

EW

Health Care Equipment & Services industry group

0.00%

EW: 0.00%
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%

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

Dividend Payout Ratio (TTM)

Neither Edwards Lifesciences (EW) nor Penumbra (PEN) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

EW

Health Care Equipment & Services industry group

0.00%

EW: 0.00%
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%

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

Dividend Metrics

Dividend metrics for Edwards Lifesciences (EW) and Penumbra (PEN)
Metric	EW	PEN
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

Both Edwards Lifesciences (EW) at 59.38 and Penumbra (PEN) at 80.41 sit in the richer earnings-multiple quartile for P/E ratio, so investors are paying more for TTM earnings than they pay for typical peers.

EW

Health Care Equipment & Services industry group

59.38

Max: 80.41
EW: 59.38
Q3: 47.62
Median: 29.93
Q1: 21.19
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

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

P/S Ratio (TTM)

Both Edwards Lifesciences (EW) at 8.80 and Penumbra (PEN) at 8.06 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.

EW

Health Care Equipment & Services industry group

8.80

EW: 8.80
Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
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

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

P/B Ratio (MRQ)

Edwards Lifesciences (EW) at 5.41 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.

EW

Health Care Equipment & Services industry group

5.41

Max: 11.68
Q3: 6.12
EW: 5.41
Median: 3.00
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

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

Valuation Metrics

Valuation metrics for Edwards Lifesciences (EW) and Penumbra (PEN)
Metric	EW	PEN
P/E Ratio (TTM)	59.38	80.41
P/S Ratio (TTM)	8.80	8.06
P/B Ratio (MRQ)	5.41	7.95
Free Cash Flow Yield (TTM)	1.95%	1.32%