PEN vs. SOLV: Penumbra vs. Solventum Stock Comparison

November 11, 2026

How do Penumbra (PEN) and Solventum (SOLV) 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

Penumbra (PEN) and Solventum (SOLV) both belong to the Health Care Equipment & Supplies industry, though PEN is classified under Health Care Equipment while SOLV falls under Health Care Supplies.

Penumbra (PEN) has been public since September 18, 2015, giving it a longer listed trading history, while Solventum (SOLV) listed on March 26, 2024 and still has a shorter public-market record.

Company profile comparison for Penumbra (PEN) and Solventum (SOLV)
Profile Item	PEN	SOLV
Name	Penumbra Inc.	Solventum Corporation
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 Supplies
Market Capitalization	12.58 billion USD	15.36 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	September 18, 2015	March 26, 2024
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

PEN

SOLV

GSPC

Penumbra (PEN) vs. Solventum (SOLV), 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 Penumbra (PEN) and Solventum (SOLV). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Penumbra (PEN) and Solventum (SOLV)
Metric	PEN	SOLV
Total Return (1Y)	20.52%	25.89%
Total Return (3Y, Annualized)	20.38%	--
Total Return (5Y, Annualized)	3.15%	--

Risk Profile

Drawdown History

PEN

SOLV

GSPC

Penumbra (PEN) vs. Solventum (SOLV), 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 Penumbra (PEN) and Solventum (SOLV). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Penumbra (PEN) and Solventum (SOLV)
Metric	PEN	SOLV
Volatility (1Y, Annualized)	19.78%	30.06%
Beta (5Y)	0.68	0.62
Max Drawdown (5Y)	-59.60%	-39.98%
Avg. Volume (3M)	348.64K	1.05M

Risk-Adjusted Performance

Risk-Return Positioning

PEN and SOLV 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 Penumbra (PEN) and Solventum (SOLV)
Metric	PEN	SOLV
Sharpe Ratio (1Y)	0.82	0.72
Sortino Ratio (1Y)	1.56	1.08

Profitability

ROE (TTM)

Both Penumbra (PEN) at 10.67% and Solventum (SOLV) at 3.19% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

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%

SOLV

Health Care Equipment & Services industry group

3.19%

Max: 47.61%
Q3: 14.36%
Median: 5.45%
SOLV: 3.19%
Q1: -10.67%
Min: -47.01%

Penumbra (PEN) vs. Solventum (SOLV): 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 Solventum (SOLV) at 1.91%, which keeps about the industry-typical share.

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%

SOLV

Health Care Equipment & Services industry group

1.91%

Max: 29.35%
Q3: 9.33%
Median: 2.18%
SOLV: 1.91%
Q1: -6.29%
Min: -28.46%

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

Operating Margin (TTM)

Both Penumbra (PEN) at 12.37% and Solventum (SOLV) at 6.82% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

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%

SOLV

Health Care Equipment & Services industry group

6.82%

Max: 35.43%
Q3: 14.14%
SOLV: 6.82%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

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

Profitability Metrics

Profitability metrics for Penumbra (PEN) and Solventum (SOLV)
Metric	PEN	SOLV
ROE (TTM)	10.67%	3.19%
ROA (TTM)	6.28%	2.29%
Net Margin (TTM)	10.06%	1.91%
Operating Margin (TTM)	12.37%	6.82%
Gross Margin (TTM)	67.99%	55.13%

Growth

Revenue Growth

Penumbra (PEN) at 17.50% is around its peer norm for revenue growth, while Solventum (SOLV) at 0.86% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Penumbra (PEN) vs. Solventum (SOLV): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Penumbra (PEN) at 1,155.56% and Solventum (SOLV) at 221.74% grew per-share earnings faster than their entire industry benchmark ranges for EPS growth — a strong showing on both sides, though a depressed base year can exaggerate the percentage, so the level of earnings matters too.

Penumbra (PEN) vs. Solventum (SOLV): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Penumbra (PEN) and Solventum (SOLV)
Metric	PEN	SOLV
Revenue Growth (YoY)	17.50%	0.86%
Revenue Growth (3Y CAGR)	18.33%	0.79%
EPS Growth (YoY)	1,155.56%	221.74%
EPS Growth (3Y CAGR)	--	4.51%

Financial Strength

Current Ratio (MRQ)

Penumbra (PEN) at 5.89 carries current ratio above its industry’s typical mid-range, while Solventum (SOLV) at 1.03 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

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

SOLV

Health Care Equipment & Services industry group

1.03

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
SOLV: 1.03
Min: 0.30

Penumbra (PEN) vs. Solventum (SOLV): 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 quartile, while Solventum (SOLV) at 1.10 sits in the higher-leverage quartile.

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

SOLV

Health Care Equipment & Services industry group

1.10

Max: 1.88
SOLV: 1.10
Q3: 0.91
Median: 0.58
Q1: 0.16
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for Penumbra (PEN) and Solventum (SOLV)
Metric	PEN	SOLV
Current Ratio (MRQ)	5.89	1.03
Debt / Equity (MRQ)	0.13	1.10
Net Debt / EBITDA	-2.22	4.66

Dividends

Dividend Yield (TTM)

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

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%

SOLV

Health Care Equipment & Services industry group

0.00%

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

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

Dividend Payout Ratio (TTM)

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

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%

SOLV

Health Care Equipment & Services industry group

0.00%

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

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

Dividend Metrics

Dividend metrics for Penumbra (PEN) and Solventum (SOLV)
Metric	PEN	SOLV
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

Both look expensive on trailing earnings: Penumbra (PEN) at 80.41 sits in the richer P/E ratio quartile, and Solventum (SOLV) at 101.55 is richer still, above its industry range.

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

SOLV

Health Care Equipment & Services industry group

101.55

SOLV: 101.55
Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
Min: 4.21

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

P/S Ratio (TTM)

Solventum (SOLV) at 1.88 is priced about in line with its industry on P/S ratio, while Penumbra (PEN) at 8.06 sits in the pricier quartile — PEN costs more per dollar of sales.

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

SOLV

Health Care Equipment & Services industry group

1.88

Max: 8.80
Q3: 4.32
Median: 2.13
SOLV: 1.88
Q1: 1.10
Min: 0.03

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

P/B Ratio (MRQ)

Solventum (SOLV) at 3.20 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.

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

SOLV

Health Care Equipment & Services industry group

3.20

Max: 11.68
Q3: 6.12
SOLV: 3.20
Median: 3.00
Q1: 1.73
Min: -1.31

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

Valuation Metrics

Valuation metrics for Penumbra (PEN) and Solventum (SOLV)
Metric	PEN	SOLV
P/E Ratio (TTM)	80.41	101.55
P/S Ratio (TTM)	8.06	1.88
P/B Ratio (MRQ)	7.95	3.20
Free Cash Flow Yield (TTM)	1.32%	1.31%