PEN vs. UNH: Penumbra vs. UnitedHealth Stock Comparison

November 11, 2026

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

Company profile comparison for Penumbra (PEN) and UnitedHealth (UNH)
Profile Item	PEN	UNH
Name	Penumbra Inc.	UnitedHealth Group 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 Providers & Services
GICS Sub-Industry	Health Care Equipment	Managed Health Care
Market Capitalization	12.58 billion USD	353.17 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	September 18, 2015	October 17, 1984
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

PEN

UNH

GSPC

Penumbra (PEN) vs. UnitedHealth (UNH), 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 UnitedHealth (UNH). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Penumbra (PEN) and UnitedHealth (UNH)
Metric	PEN	UNH
Total Return (1Y)	20.52%	26.08%
Total Return (3Y, Annualized)	20.38%	-7.69%
Total Return (5Y, Annualized)	3.15%	-1.26%

Risk Profile

Drawdown History

PEN

UNH

GSPC

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

Risk Metrics

Risk profile metrics for Penumbra (PEN) and UnitedHealth (UNH)
Metric	PEN	UNH
Volatility (1Y, Annualized)	19.78%	34.76%
Beta (5Y)	0.68	0.52
Max Drawdown (5Y)	-59.60%	-61.39%
Avg. Volume (3M)	348.64K	5.13M

Risk-Adjusted Performance

Risk-Return Positioning

PEN and UNH 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 UnitedHealth (UNH)
Metric	PEN	UNH
Sharpe Ratio (1Y)	0.82	0.63
Sortino Ratio (1Y)	1.56	0.86

Profitability

ROE (TTM)

UnitedHealth (UNH) at 15.77% sits in the top ROE quartile, while Penumbra (PEN) at 10.67% is closer to the peer norm — stronger capital efficiency for UNH.

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%

UNH

Health Care Equipment & Services industry group

15.77%

Max: 47.61%
UNH: 15.77%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Penumbra (PEN) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) at 3.53%, 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%

UNH

Health Care Equipment & Services industry group

3.53%

Max: 29.35%
Q3: 9.33%
UNH: 3.53%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Penumbra (PEN) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) at 5.82% 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%

UNH

Health Care Equipment & Services industry group

5.82%

Max: 35.43%
Q3: 14.14%
Median: 6.81%
UNH: 5.82%
Q1: -0.28%
Min: -16.29%

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

Profitability Metrics

Profitability metrics for Penumbra (PEN) and UnitedHealth (UNH)
Metric	PEN	UNH
ROE (TTM)	10.67%	15.77%
ROA (TTM)	6.28%	5.24%
Net Margin (TTM)	10.06%	3.53%
Operating Margin (TTM)	12.37%	5.82%
Gross Margin (TTM)	67.99%	20.05%

Growth

Revenue Growth

Both Penumbra (PEN) at 17.50% and UnitedHealth (UNH) at 11.81% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Penumbra (PEN) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) at -14.70%, which is closer to a typical peer reading.

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

Growth Metrics

Growth metrics for Penumbra (PEN) and UnitedHealth (UNH)
Metric	PEN	UNH
Revenue Growth (YoY)	17.50%	11.81%
Revenue Growth (3Y CAGR)	18.33%	11.35%
EPS Growth (YoY)	1,155.56%	-14.70%
EPS Growth (3Y CAGR)	--	-14.52%

Financial Strength

Current Ratio (MRQ)

Penumbra (PEN) at 5.89 carries current ratio above its industry’s typical mid-range, while UnitedHealth (UNH) at 0.74 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

UNH

Health Care Equipment & Services industry group

0.74

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
UNH: 0.74
Min: 0.30

Penumbra (PEN) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) at 0.70 runs a more typical debt-to-equity mix.

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

UNH

Health Care Equipment & Services industry group

0.70

Max: 1.88
Q3: 0.91
UNH: 0.70
Median: 0.58
Q1: 0.16
Min: 0.00

Penumbra (PEN) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH)
Metric	PEN	UNH
Current Ratio (MRQ)	5.89	0.74
Debt / Equity (MRQ)	0.13	0.70
Net Debt / EBITDA	-2.22	1.58

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 UnitedHealth (UNH) reports a yield of 2.29%, ranking against industry peers normally.

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%

UNH

Health Care Equipment & Services industry group

2.29%

UNH: 2.29%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Penumbra (PEN) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) reports a payout of 51.71%, ranking against industry peers normally.

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%

UNH

Health Care Equipment & Services industry group

51.71%

UNH: 51.71%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Penumbra (PEN) and UnitedHealth (UNH)
Metric	PEN	UNH
Dividend Yield (TTM)	0.00%	2.29%
Dividend Payout Ratio (TTM)	0.00%	51.71%

Valuation

P/E Ratio (TTM)

UnitedHealth (UNH) at 22.50 is near its industry’s usual P/E ratio, while Penumbra (PEN) at 80.41 sits in the richer quartile — PEN needs stronger growth or earnings quality to justify the premium.

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

UNH

Health Care Equipment & Services industry group

22.50

Max: 80.41
Q3: 47.62
Median: 29.93
UNH: 22.50
Q1: 21.19
Min: 4.21

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

P/S Ratio (TTM)

UnitedHealth (UNH) at 0.78 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.

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

UNH

Health Care Equipment & Services industry group

0.78

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
UNH: 0.78
Min: 0.03

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

P/B Ratio (MRQ)

UnitedHealth (UNH) at 3.60 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

UNH

Health Care Equipment & Services industry group

3.60

Max: 11.68
Q3: 6.12
UNH: 3.60
Median: 3.00
Q1: 1.73
Min: -1.31

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

Valuation Metrics

Valuation metrics for Penumbra (PEN) and UnitedHealth (UNH)
Metric	PEN	UNH
P/E Ratio (TTM)	80.41	22.50
P/S Ratio (TTM)	8.06	0.78
P/B Ratio (MRQ)	7.95	3.60
Free Cash Flow Yield (TTM)	1.32%	7.50%