Penumbra, Inc. (PEN) vs 10x Genomics (TXG)

Penumbra, Inc. and 10x Genomics are both Medical Devices companies. Penumbra, Inc. is the larger, with a market value of $12.7B against $7.6B — 1.7× the size. 10x Genomics has negative trailing earnings, so its P/E is not meaningful; Penumbra, Inc. trades at 80.3×. Penumbra, Inc. grew revenue faster over the last twelve months: 17.0% against −4.28%. Penumbra, Inc. has the higher net margin (10.1% vs −12.2%) and the higher return on invested capital (12.7% vs −20.2%). Across the 18 metrics below, Penumbra, Inc. leads on 15 and 10x Genomics on 3.

Valuation

Metric PEN TXG Medical Devices median
P/E 80.35 n/m 25.58
P/S 8.10 12.35 2.54
P/B 7.98 9.23 2.48
Price to free cash flow 63.11 63.28 28.81
EV/EBITDA 57.25 n/m 11.51
EV/Sales 7.68 11.51 2.72
Earnings yield 1.24% (1.01%) (12.82%)
Free cash flow yield 1.58% 1.58% (8.18%)

Profitability

Metric PEN TXG Medical Devices median
Gross margin 67.98% 70.03% 57.76%
Operating margin 12.13% (14.33%) (15.07%)
Net margin 10.06% (12.18%) (14.45%)
Free cash flow margin 12.84% 19.68% (3.88%)
Return on equity 10.67% (9.40%) (10.35%)
Return on assets 8.33% (7.47%) (17.26%)
Return on invested capital 12.73% (20.20%) (5.27%)

Growth

Metric PEN TXG Medical Devices median
Revenue growth (TTM) 16.98% (4.28%) 10.41%
EPS growth (last fiscal year) 1,155.56% 76.97% 28.17%
Revenue growth, 5-year CAGR 20.16% 16.55% 15.74%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PEN TXG Medical Devices median
Debt to equity 0.01 0.00 0.04
Current ratio 5.89 5.69 2.74
Net debt to EBITDA (2.54) 30.49 0.54

Dividend

Metric PEN TXG Medical Devices median
Dividend yield — — 1.02%
Payout ratio — — 0.37

Size

Metric PEN TXG Medical Devices median
Market cap 12.66b 7.56b 239.53m

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