PEN vs. ZBH: Penumbra vs. Zimmer Biomet Stock Comparison

November 11, 2026

How do Penumbra (PEN) and Zimmer Biomet (ZBH) 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 Zimmer Biomet (ZBH) 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 Penumbra (PEN) and Zimmer Biomet (ZBH)
Profile Item	PEN	ZBH
Name	Penumbra Inc.	Zimmer Biomet Holdings 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	12.58 billion USD	19.98 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	September 18, 2015	July 25, 2001
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

PEN

ZBH

GSPC

Penumbra (PEN) vs. Zimmer Biomet (ZBH), 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 Zimmer Biomet (ZBH). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Penumbra (PEN) and Zimmer Biomet (ZBH)
Metric	PEN	ZBH
Total Return (1Y)	20.52%	24.04%
Total Return (3Y, Annualized)	20.38%	2.38%
Total Return (5Y, Annualized)	3.15%	-2.74%

Risk Profile

Drawdown History

PEN

ZBH

GSPC

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

Risk Metrics

Risk profile metrics for Penumbra (PEN) and Zimmer Biomet (ZBH)
Metric	PEN	ZBH
Volatility (1Y, Annualized)	19.78%	32.39%
Beta (5Y)	0.68	0.42
Max Drawdown (5Y)	-59.60%	-43.94%
Avg. Volume (3M)	348.64K	2.09M

Risk-Adjusted Performance

Risk-Return Positioning

PEN and ZBH 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 Zimmer Biomet (ZBH)
Metric	PEN	ZBH
Sharpe Ratio (1Y)	0.82	0.61
Sortino Ratio (1Y)	1.56	0.93

Profitability

ROE (TTM)

Both Penumbra (PEN) at 10.67% and Zimmer Biomet (ZBH) at 6.03% 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%

ZBH

Health Care Equipment & Services industry group

6.03%

Max: 47.61%
Q3: 14.36%
ZBH: 6.03%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Penumbra (PEN) vs. Zimmer Biomet (ZBH): 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 Zimmer Biomet (ZBH) at 8.95%, 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%

ZBH

Health Care Equipment & Services industry group

8.95%

Max: 29.35%
Q3: 9.33%
ZBH: 8.95%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

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

Operating Margin (TTM)

Zimmer Biomet (ZBH) at 17.35% operates in the top operating margin quartile, ahead of Penumbra (PEN) at 12.37%, which runs around its industry’s norm.

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%

ZBH

Health Care Equipment & Services industry group

17.35%

Max: 35.43%
ZBH: 17.35%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

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

Profitability Metrics

Profitability metrics for Penumbra (PEN) and Zimmer Biomet (ZBH)
Metric	PEN	ZBH
ROE (TTM)	10.67%	6.03%
ROA (TTM)	6.28%	3.81%
Net Margin (TTM)	10.06%	8.95%
Operating Margin (TTM)	12.37%	17.35%
Gross Margin (TTM)	67.99%	69.33%

Growth

Revenue Growth

Both Penumbra (PEN) at 17.50% and Zimmer Biomet (ZBH) at 7.20% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Penumbra (PEN) vs. Zimmer Biomet (ZBH): 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 Zimmer Biomet (ZBH) at -19.86%, which is closer to a typical peer reading.

Penumbra (PEN) vs. Zimmer Biomet (ZBH): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Penumbra (PEN) and Zimmer Biomet (ZBH)
Metric	PEN	ZBH
Revenue Growth (YoY)	17.50%	7.20%
Revenue Growth (3Y CAGR)	18.33%	5.85%
EPS Growth (YoY)	1,155.56%	-19.86%
EPS Growth (3Y CAGR)	--	47.78%

Financial Strength

Current Ratio (MRQ)

Zimmer Biomet (ZBH) at 1.46 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.

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

ZBH

Health Care Equipment & Services industry group

1.46

Max: 7.59
Q3: 4.00
Median: 1.98
ZBH: 1.46
Q1: 1.37
Min: 0.30

Penumbra (PEN) vs. Zimmer Biomet (ZBH): 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 Zimmer Biomet (ZBH) at 0.60 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

ZBH

Health Care Equipment & Services industry group

0.60

Max: 1.88
Q3: 0.91
ZBH: 0.60
Median: 0.58
Q1: 0.16
Min: 0.00

Penumbra (PEN) vs. Zimmer Biomet (ZBH): 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 Zimmer Biomet (ZBH)
Metric	PEN	ZBH
Current Ratio (MRQ)	5.89	1.46
Debt / Equity (MRQ)	0.13	0.60
Net Debt / EBITDA	-2.22	2.85

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 Zimmer Biomet (ZBH) reports a yield of 0.90%, 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%

ZBH

Health Care Equipment & Services industry group

0.90%

ZBH: 0.90%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Penumbra (PEN) vs. Zimmer Biomet (ZBH): 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 Zimmer Biomet (ZBH) reports a payout of 24.24%, 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%

ZBH

Health Care Equipment & Services industry group

24.24%

ZBH: 24.24%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Penumbra (PEN) and Zimmer Biomet (ZBH)
Metric	PEN	ZBH
Dividend Yield (TTM)	0.00%	0.90%
Dividend Payout Ratio (TTM)	0.00%	24.24%

Valuation

P/E Ratio (TTM)

Zimmer Biomet (ZBH) at 26.66 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

ZBH

Health Care Equipment & Services industry group

26.66

Max: 80.41
Q3: 47.62
Median: 29.93
ZBH: 26.66
Q1: 21.19
Min: 4.21

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

P/S Ratio (TTM)

Zimmer Biomet (ZBH) at 2.33 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

ZBH

Health Care Equipment & Services industry group

2.33

Max: 8.80
Q3: 4.32
ZBH: 2.33
Median: 2.13
Q1: 1.10
Min: 0.03

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

P/B Ratio (MRQ)

Zimmer Biomet (ZBH) at 1.58 looks cheap against book in the lower P/B ratio quartile, while Penumbra (PEN) at 7.95 carries a premium in the upper quartile — a clear price-to-book gap.

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

ZBH

Health Care Equipment & Services industry group

1.58

Max: 11.68
Q3: 6.12
Median: 3.00
Q1: 1.73
ZBH: 1.58
Min: -1.31

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

Valuation Metrics

Valuation metrics for Penumbra (PEN) and Zimmer Biomet (ZBH)
Metric	PEN	ZBH
P/E Ratio (TTM)	80.41	26.66
P/S Ratio (TTM)	8.06	2.33
P/B Ratio (MRQ)	7.95	1.58
Free Cash Flow Yield (TTM)	1.32%	7.22%