LivaNova
LIVN · Health Care Equipment
$80.90
0.5%Penumbra
PEN · Health Care Equipment
$324.39
0.2%The short version
- Penumbra is the larger business, with $1.4B of revenue in fiscal 2025 against $1.4B for LivaNova.
- Penumbra grew revenue faster (17.5%, against 10.7%).
- LivaNova kept more of each dollar of sales as operating profit (14.4% operating margin, against 13.5% operating margin).
- Penumbra earned a higher return on the capital invested in it (18.8%, against 12.8%).
- Investors pay more for each dollar of Penumbra’s earnings: a P/E of 79.7x against 23.9x for LivaNova.
| Latest fiscal year | LIVN · FY25 | PEN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.6B | $12.8B |
| Revenue | $1.4B | $1.4B |
| Free cash flow | $173M | $175M |
| Net income | −$243M | $178M |
| Growth | ||
| Revenue growth | 10.7% | 17.5% |
| 5-year growth | 8.2% | 20.2% |
| Share count change | −0.1% | 0.1% |
| Profitability | ||
| Gross margin | 67.7% | 67.1% |
| Operating margin | 14.4% | 13.5% |
| Net margin | −17.5% | 12.7% |
| FCF margin | 12.5% | 12.5% |
| Return on capital | 12.8% | 18.8% |
| Return on equity | −19.2% | 13.8% |
| Balance sheet | ||
| Net debt | −$260M | −$522M |
| Net debt / EBITDA | — | −2.5x |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | 23.9x | 79.7x |
| Piotroski F-score | 5 | 7 |
FY16
LIVN $965M
PEN $263M
FY17
LIVN $1.0B
PEN $334M
FY18
LIVN $1.1B
PEN $445M
FY19
LIVN $1.1B
PEN $547M
FY20
LIVN $934M
PEN $560M
FY21
LIVN $1.0B
PEN $748M
FY22
LIVN $1.0B
PEN $847M
FY23
LIVN $1.2B
PEN $1.1B
FY24
LIVN $1.3B
PEN $1.2B
FY25
LIVN $1.4B
PEN $1.4B
LIVN
PEN
FY16
LIVN 3.5%
PEN −0.5%
FY17
LIVN 9.5%
PEN 0.4%
FY18
LIVN −22.4%
PEN −0.2%
FY19
LIVN −15.8%
PEN 8.7%
FY20
LIVN −29.3%
PEN −7.0%
FY21
LIVN −0.1%
PEN −1.0%
FY22
LIVN −7.5%
PEN 0.7%
FY23
LIVN −5.9%
PEN 7.0%
FY24
LIVN 10.3%
PEN 0.8%
FY25
LIVN 14.4%
PEN 13.5%
LIVN
PEN
FY16
LIVN $51.8M
PEN −$26.4M
FY17
LIVN $58.4M
PEN $0.2M
FY18
LIVN $83.3M
PEN $19.2M
FY19
LIVN −$116M
PEN $4.5M
FY20
LIVN −$114M
PEN −$58.0M
FY21
LIVN $77.1M
PEN −$11.7M
FY22
LIVN $43.4M
PEN −$75.0M
FY23
LIVN $39.9M
PEN $82.1M
FY24
LIVN $136M
PEN $147M
FY25
LIVN $173M
PEN $175M
LIVN
PEN
FY16
LIVN 2.7%
PEN −0.5%
FY17
LIVN —
PEN 0.4%
FY18
LIVN —
PEN −0.2%
FY19
LIVN −8.3%
PEN 11.2%
FY20
LIVN −13.7%
PEN −7.3%
FY21
LIVN −0.0%
PEN −1.1%
FY22
LIVN −4.3%
PEN 0.4%
FY23
LIVN −3.5%
PEN 8.4%
FY24
LIVN 5.9%
PEN 0.7%
FY25
LIVN 12.8%
PEN 18.8%
LIVN
PEN
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.