PenumbraPEN +0.22%89 Net Current Asset Value is $21.63 as of Mar. 2026, which is 40% above its 10-year median of 15.45. GuruFocus rates PEN with a GF Score™ of 89/100 and a GF Value™ of $331.61 (Fairly Valued). The stock has 1 warning sign investors should review. Among 566 Medical Devices & Instruments companies, Penumbra ranks worse than 80.21% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Penumbra's net current asset value per share for the quarter that ended in Mar. 2026 was $21.63.
The historical rank and industry rank for Penumbra's Net Current Asset Value or its related term are showing as below:
PEN'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 8.25 Med: 15.45 Max: 28.6
Current: 14.63
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Penumbra was 28.60. The lowest was 8.25. And the median was 15.45.
PEN's Price-to-Net-Current-Asset-Value is ranked worse than 80.21% of 566
companies
in the Medical Devices & Instruments industry
Industry Median: 5.05
vs PEN: 14.63
Penumbra (NYSE:PEN) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Penumbra Net Current Asset Value Related Terms
Penumbra Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Penumbra's Net Current Asset Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
PEN vs GMED, PODD, BRKR: Net Current Asset Value Comparison
For the Medical Devices subindustry, Penumbra's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Penumbra Price-to-Net-Current-Asset-Value vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Penumbra's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Penumbra's Price-to-Net-Current-Asset-Value falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Net Current Asset Value of $21.63 mean?
Penumbra (PEN) has a Net Current Asset Value of $21.63 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Penumbra and its competitors. This is 40% above median its historical median of 15.45. Over the past decade, Penumbra's Net Current Asset Value has ranged from 8.25 to 28.60. According to the industry distribution chart, Penumbra ranks #454 out of 566 companies in the Medical Devices & Instruments industry, placing it in the top 80.2%.
Is Penumbra's Net Current Asset Value too high?
Penumbra's current Net Current Asset Value of $21.63 is 40% above median its 10-year median of 15.45. Over the past 10 years, this metric has ranged from a low of 8.25 to a high of 28.60. The Medical Devices & Instruments industry median Net Current Asset Value is 5.05. Penumbra's value of $21.63 is 328.3% above this industry median. Based on the distribution chart, Penumbra ranks #454 out of 566 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Penumbra has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Penumbra's Net Current Asset Value compare to GMED and PODD?
According to the Medical Devices & Instruments industry distribution chart, Penumbra ranks #454 out of 566 companies for Net Current Asset Value. This places Penumbra in the lower half of its industry. The industry median Net Current Asset Value is 5.05. Penumbra's value of $21.63 is 328.3% above this benchmark. Historically, Penumbra's own Net Current Asset Value has ranged from 8.25 to 28.60 over the past decade. While the company's 10-year median is 15.45 vs. the industry median of 5.05, Penumbra has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for a Medical Devices & Instruments company?
The median Net Current Asset Value among Medical Devices & Instruments companies is 5.05, based on 566 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Penumbra's current Net Current Asset Value of $21.63 is 328.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Penumbra and its competitors. For the Medical Devices & Instruments industry, the median Net Current Asset Value is 5.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Penumbra's current Net Current Asset Value is $21.63, which is 40% above median its own 10-year median of 15.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Penumbra stock overvalued right now?
Based on GuruFocus' analysis, Penumbra (PEN) is currently considered Fairly Valued. The stock's GF Value™ is $331.61, compared to a current price of $316.43 — trading 4.6% below its estimated fair value. The current Net Current Asset Value is $21.63, which is 40% above median its 10-year median of 15.45 and 328.3% above the Medical Devices & Instruments industry median of 5.05. Penumbra's overall GF Score™ is 89/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Penumbra (PEN), the current Net Current Asset Value is $21.63 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Penumbra (PEN) Overvalued in 2026?
Based on GuruFocus' analysis, Penumbra stock appears to be undervalued.
The current stock price of $316.43 is trading 4.6% below its estimated GF Value™ of $331.61.
GuruFocus considers Penumbra to be Fairly Valued.
Key valuation signals for PEN:
Net Current Asset Value: $21.63 (40% above median its 10-year median of 15.45)
GF Value™: $331.61 vs. price of $316.43 (4.6% below fair value)
Industry Position: 328.3% above the Medical Devices & Instruments median (#454 of 566)
No single metric tells the full story. See the PEN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Penumbra Inc is a thrombectomy company focused on developing technologies for challenging medical conditions such as ischemic stroke, venous thromboembolism (including pulmonary embolism), and acute limb ischemia. Its portfolio includes Computer-Assisted Vacuum Thrombectomy (CAVT), which is designed to remove blood clots throughout the body. The company offers products such as the Artemis Neuro Evacuation Device (used for surgical removal of fluid and tissue from the ventricles and cerebrum), Indigo System, Penumbra System Reperfusion Catheter, LANTERN Delivery Microcatheter, Penumbra Smart Coil, and ACE Reperfusion Catheters, among others. The company generates maximum revenue from the sale of its products in the United States, followed by international markets.
89GF Score
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