Intrinsic value of Penumbra - PEN

Previous Close

$93.60

  Intrinsic Value

$1.94

stock screener

  Rating & Target

str. sell

-98%

Previous close

$93.60

 
Intrinsic value

$1.94

 
Up/down potential

-98%

 
Rating

str. sell

We calculate the intrinsic value of PEN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  41.40
  25.40
  23.36
  21.52
  19.87
  18.38
  17.05
  15.84
  14.76
  13.78
  12.90
  12.11
  11.40
  10.76
  10.19
  9.67
  9.20
  8.78
  8.40
  8.06
  7.76
  7.48
  7.23
  7.01
  6.81
  6.63
  6.46
  6.32
  6.19
  6.07
  5.96
Revenue, $m
  263
  330
  407
  494
  593
  702
  821
  951
  1,092
  1,242
  1,402
  1,572
  1,752
  1,940
  2,138
  2,344
  2,560
  2,785
  3,019
  3,262
  3,515
  3,778
  4,051
  4,335
  4,630
  4,937
  5,256
  5,589
  5,934
  6,294
  6,670
Variable operating expenses, $m
 
  322
  397
  483
  579
  685
  802
  929
  1,067
  1,214
  1,370
  1,536
  1,711
  1,895
  2,089
  2,290
  2,501
  2,721
  2,949
  3,187
  3,434
  3,691
  3,958
  4,236
  4,524
  4,824
  5,136
  5,460
  5,798
  6,150
  6,516
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  265
  322
  397
  483
  579
  685
  802
  929
  1,067
  1,214
  1,370
  1,536
  1,711
  1,895
  2,089
  2,290
  2,501
  2,721
  2,949
  3,187
  3,434
  3,691
  3,958
  4,236
  4,524
  4,824
  5,136
  5,460
  5,798
  6,150
  6,516
Operating income, $m
  -1
  8
  9
  11
  14
  16
  19
  22
  25
  29
  32
  36
  40
  45
  49
  54
  59
  64
  69
  75
  81
  87
  93
  100
  106
  114
  121
  129
  136
  145
  153
EBITDA, $m
  1
  10
  12
  15
  18
  21
  25
  29
  33
  38
  43
  48
  54
  59
  65
  72
  78
  85
  92
  100
  108
  116
  124
  133
  142
  151
  161
  171
  182
  193
  204
Interest expense (income), $m
  0
  0
  0
  1
  1
  2
  2
  3
  4
  5
  5
  6
  7
  8
  9
  10
  11
  13
  14
  15
  16
  18
  19
  21
  22
  24
  26
  27
  29
  31
  33
Earnings before tax, $m
  -1
  8
  9
  11
  12
  14
  16
  19
  21
  24
  27
  30
  33
  36
  40
  44
  48
  52
  56
  60
  64
  69
  74
  79
  84
  90
  95
  101
  107
  114
  120
Tax expense, $m
  -16
  2
  2
  3
  3
  4
  4
  5
  6
  6
  7
  8
  9
  10
  11
  12
  13
  14
  15
  16
  17
  19
  20
  21
  23
  24
  26
  27
  29
  31
  33
Net income, $m
  15
  6
  7
  8
  9
  10
  12
  14
  16
  18
  20
  22
  24
  27
  29
  32
  35
  38
  41
  44
  47
  50
  54
  58
  62
  66
  70
  74
  78
  83
  88

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  129
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  308
  225
  277
  337
  403
  478
  559
  648
  743
  846
  955
  1,070
  1,192
  1,321
  1,455
  1,596
  1,743
  1,896
  2,055
  2,221
  2,393
  2,572
  2,758
  2,951
  3,152
  3,361
  3,578
  3,804
  4,040
  4,285
  4,540
Adjusted assets (=assets-cash), $m
  179
  225
  277
  337
  403
  478
  559
  648
  743
  846
  955
  1,070
  1,192
  1,321
  1,455
  1,596
  1,743
  1,896
  2,055
  2,221
  2,393
  2,572
  2,758
  2,951
  3,152
  3,361
  3,578
  3,804
  4,040
  4,285
  4,540
Revenue / Adjusted assets
  1.469
  1.467
  1.469
  1.466
  1.471
  1.469
  1.469
  1.468
  1.470
  1.468
  1.468
  1.469
  1.470
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
  1.469
Average production assets, $m
  15
  19
  23
  28
  34
  40
  47
  54
  62
  71
  80
  90
  100
  111
  122
  134
  146
  159
  172
  186
  200
  215
  231
  247
  264
  281
  300
  319
  338
  359
  380
Working capital, $m
  228
  124
  153
  186
  223
  264
  309
  358
  410
  467
  527
  591
  659
  729
  804
  881
  963
  1,047
  1,135
  1,227
  1,322
  1,421
  1,523
  1,630
  1,741
  1,856
  1,976
  2,101
  2,231
  2,367
  2,508
Total debt, $m
  0
  10
  22
  36
  51
  68
  87
  107
  129
  153
  178
  204
  232
  261
  292
  324
  358
  393
  430
  468
  507
  548
  591
  635
  681
  729
  778
  830
  884
  940
  999
Total liabilities, $m
  42
  51
  63
  77
  92
  109
  128
  148
  170
  194
  219
  245
  273
  302
  333
  365
  399
  434
  471
  509
  548
  589
  632
  676
  722
  770
  819
  871
  925
  981
  1,040
Total equity, $m
  267
  173
  214
  259
  311
  368
  431
  499
  573
  652
  736
  825
  919
  1,018
  1,122
  1,230
  1,344
  1,462
  1,584
  1,712
  1,845
  1,983
  2,126
  2,275
  2,430
  2,591
  2,759
  2,933
  3,115
  3,304
  3,500
Total liabilities and equity, $m
  309
  224
  277
  336
  403
  477
  559
  647
  743
  846
  955
  1,070
  1,192
  1,320
  1,455
  1,595
  1,743
  1,896
  2,055
  2,221
  2,393
  2,572
  2,758
  2,951
  3,152
  3,361
  3,578
  3,804
  4,040
  4,285
  4,540
Debt-to-equity ratio
  0.000
  0.060
  0.110
  0.140
  0.170
  0.190
  0.200
  0.210
  0.230
  0.230
  0.240
  0.250
  0.250
  0.260
  0.260
  0.260
  0.270
  0.270
  0.270
  0.270
  0.270
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.290
Adjusted equity ratio
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771
  0.771

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  15
  6
  7
  8
  9
  10
  12
  14
  16
  18
  20
  22
  24
  27
  29
  32
  35
  38
  41
  44
  47
  50
  54
  58
  62
  66
  70
  74
  78
  83
  88
Depreciation, amort., depletion, $m
  2
  3
  3
  4
  5
  5
  6
  7
  8
  9
  11
  12
  13
  15
  16
  18
  19
  21
  23
  25
  27
  29
  31
  33
  35
  38
  40
  42
  45
  48
  51
Funds from operations, $m
  -49
  8
  10
  11
  14
  16
  18
  21
  24
  27
  30
  34
  38
  41
  45
  50
  54
  59
  64
  69
  74
  79
  85
  91
  97
  103
  110
  116
  124
  131
  139
Change in working capital, $m
  -36
  25
  29
  33
  37
  41
  45
  49
  53
  57
  60
  64
  67
  71
  74
  78
  81
  85
  88
  92
  95
  99
  103
  107
  111
  115
  120
  125
  130
  135
  141
Cash from operations, $m
  -13
  -17
  -19
  -21
  -23
  -25
  -27
  -28
  -29
  -30
  -30
  -30
  -30
  -29
  -29
  -28
  -27
  -26
  -24
  -23
  -21
  -20
  -18
  -16
  -14
  -12
  -10
  -8
  -6
  -4
  -2
Maintenance CAPEX, $m
  0
  -2
  -3
  -3
  -4
  -5
  -5
  -6
  -7
  -8
  -9
  -11
  -12
  -13
  -15
  -16
  -18
  -19
  -21
  -23
  -25
  -27
  -29
  -31
  -33
  -35
  -38
  -40
  -42
  -45
  -48
New CAPEX, $m
  -14
  -4
  -4
  -5
  -6
  -6
  -7
  -7
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -17
  -18
  -19
  -20
  -21
  -21
Cash from investing activities, $m
  1
  -6
  -7
  -8
  -10
  -11
  -12
  -13
  -15
  -17
  -18
  -21
  -22
  -24
  -26
  -28
  -30
  -32
  -34
  -37
  -39
  -42
  -45
  -47
  -50
  -52
  -56
  -59
  -62
  -66
  -69
Free cash flow, $m
  -12
  -23
  -26
  -30
  -33
  -36
  -39
  -42
  -44
  -46
  -49
  -50
  -52
  -54
  -55
  -56
  -57
  -58
  -59
  -60
  -61
  -61
  -62
  -63
  -64
  -65
  -66
  -67
  -69
  -70
  -72
Issuance/(repayment) of debt, $m
  0
  10
  12
  14
  15
  17
  19
  20
  22
  23
  25
  26
  28
  29
  31
  32
  34
  35
  36
  38
  39
  41
  43
  44
  46
  48
  50
  52
  54
  56
  58
Issuance/(repurchase) of shares, $m
  10
  30
  34
  38
  43
  47
  51
  55
  58
  61
  64
  67
  70
  72
  74
  77
  79
  80
  82
  84
  86
  88
  89
  91
  93
  96
  98
  100
  103
  106
  109
Cash from financing (excl. dividends), $m  
  7
  40
  46
  52
  58
  64
  70
  75
  80
  84
  89
  93
  98
  101
  105
  109
  113
  115
  118
  122
  125
  129
  132
  135
  139
  144
  148
  152
  157
  162
  167
Total cash flow (excl. dividends), $m
  -6
  17
  20
  22
  25
  28
  31
  33
  36
  38
  41
  43
  46
  48
  50
  53
  55
  57
  60
  62
  65
  67
  70
  73
  75
  78
  81
  85
  88
  92
  96
Retained Cash Flow (-), $m
  -34
  -35
  -40
  -46
  -52
  -57
  -63
  -68
  -74
  -79
  -84
  -89
  -94
  -99
  -104
  -108
  -113
  -118
  -123
  -128
  -133
  -138
  -143
  -149
  -155
  -161
  -168
  -174
  -181
  -189
  -197
Prev. year cash balance distribution, $m
 
  129
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  111
  -21
  -24
  -26
  -29
  -32
  -35
  -38
  -41
  -43
  -46
  -48
  -51
  -53
  -56
  -58
  -61
  -63
  -66
  -68
  -71
  -74
  -77
  -80
  -83
  -86
  -90
  -93
  -97
  -101
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  106
  -19
  -21
  -22
  -23
  -23
  -24
  -24
  -23
  -23
  -22
  -21
  -19
  -18
  -16
  -15
  -13
  -12
  -10
  -9
  -7
  -6
  -5
  -4
  -3
  -3
  -2
  -1
  -1
  -1
Current shareholders' claim on cash, %
  100
  97.9
  96.0
  94.3
  92.8
  91.4
  90.2
  89.1
  88.0
  87.1
  86.3
  85.5
  84.8
  84.1
  83.5
  82.9
  82.4
  81.9
  81.4
  81.0
  80.6
  80.2
  79.9
  79.5
  79.2
  78.9
  78.6
  78.3
  78.0
  77.8
  77.5

Penumbra, Inc. is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures. It focuses on developing, manufacturing and marketing products for use by specialist physicians, including interventional neuroradiologists, neurosurgeons, interventional neurologists, interventional radiologists and vascular surgeons. Its neuro products include Neurovascular Access, Neuro Thrombectomy (Ischemic Stroke), Neurovascular Embolization (Brain Aneurysms) and Neurosurgical Tools (Hemorrhagic Stroke). Its peripheral vascular products include Peripheral Vascular Embolization and Peripheral Thrombectomy.

FINANCIAL RATIOS  of  Penumbra (PEN)

Valuation Ratios
P/E Ratio 194.1
Price to Sales 11.1
Price to Book 10.9
Price to Tangible Book
Price to Cash Flow -224
Price to Free Cash Flow -107.8
Growth Rates
Sales Growth Rate 41.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 180%
Cap. Spend. - 3 Yr. Gr. Rate 69.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 5.2%
Ret/ On Assets - 3 Yr. Avg. 2.8%
Return On Total Capital 6%
Ret/ On T. Cap. - 3 Yr. Avg. 3.3%
Return On Equity 6%
Return On Equity - 3 Yr. Avg. 3.3%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 65%
Gross Margin - 3 Yr. Avg. 65.9%
EBITDA Margin 0.4%
EBITDA Margin - 3 Yr. Avg. 2.3%
Operating Margin -0.8%
Oper. Margin - 3 Yr. Avg. 1.3%
Pre-Tax Margin -0.4%
Pre-Tax Margin - 3 Yr. Avg. 1.4%
Net Profit Margin 5.7%
Net Profit Margin - 3 Yr. Avg. 2.8%
Effective Tax Rate 1600%
Eff/ Tax Rate - 3 Yr. Avg. 561.1%
Payout Ratio 0%

PEN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PEN stock intrinsic value calculation we used $263 million for the last fiscal year's total revenue generated by Penumbra. The default revenue input number comes from 2016 income statement of Penumbra. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PEN stock valuation model: a) initial revenue growth rate of 25.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for PEN is calculated based on our internal credit rating of Penumbra, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Penumbra.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PEN stock the variable cost ratio is equal to 97.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for PEN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Penumbra.

Corporate tax rate of 27% is the nominal tax rate for Penumbra. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PEN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PEN are equal to 5.7%.

Life of production assets of 7.5 years is the average useful life of capital assets used in Penumbra operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PEN is equal to 37.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $267 million for Penumbra - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 34.431 million for Penumbra is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Penumbra at the current share price and the inputted number of shares is $3.2 billion.

RELATED COMPANIES Price Int.Val. Rating
SYK Stryker 156.24 99.27  sell
BSX Boston Scienti 26.81 10.23  str.sell
JNJ Johnson&Johnso 129.67 146.14  hold
IART Integra LifeSc 50.64 17.85  str.sell
NVRO Nevro 77.30 47.67  sell
NVTR Nuvectra 10.26 1.15  str.sell

COMPANY NEWS

▶ Should You Buy Penumbra Inc (NYSE:PEN) At $93.6?   [Feb-15-18 02:19PM  Simply Wall St.]
▶ Stocks Flashing Renewed Technical Strength: Penumbra   [Dec-27-17 03:00AM  Investor's Business Daily]
▶ Cramer Remix: Im ashamed of my GE recommendation   [Dec-19-17 07:02PM  CNBC Videos]
▶ 3 Highest Growth Stocks in the Market Today   [Dec-04-17 08:07AM  Motley Fool]
▶ ETFs with exposure to Penumbra, Inc. : November 27, 2017   [Nov-27-17 03:18PM  Capital Cube]
▶ ETFs with exposure to Penumbra, Inc. : November 14, 2017   [Nov-14-17 02:43PM  Capital Cube]
▶ Should You Buy Penumbra Inc (PEN) Now?   [Nov-10-17 03:45PM  Simply Wall St.]
▶ Penumbra beats 3Q profit forecasts   [Nov-07-17 06:09PM  Associated Press]
▶ Penumbra, Inc. to Host Earnings Call   [03:00PM  ACCESSWIRE]
▶ Will Penumbra Incs (PEN) Earnings Grow Over The Next Year?   [Oct-27-17 04:31PM  Simply Wall St.]
▶ ETFs with exposure to Penumbra, Inc. : October 20, 2017   [Oct-20-17 10:22AM  Capital Cube]
▶ ETFs with exposure to Penumbra, Inc. : October 9, 2017   [Oct-09-17 11:54AM  Capital Cube]
▶ Is It Time To Buy Penumbra Inc (PEN)?   [Sep-28-17 10:55AM  Simply Wall St.]
▶ Stocks With Rising Relative Strength: Penumbra   [Sep-27-17 03:00AM  Investor's Business Daily]
▶ Penumbra Earns Relative Strength Rating Upgrade; Hits Key Benchmark   [Aug-29-17 03:00AM  Investor's Business Daily]
▶ Penumbra reports 2Q loss   [Aug-08-17 05:37PM  Associated Press]
▶ Penumbra, Inc. Value Analysis (NYSE:PEN) : July 31, 2017   [Jul-31-17 07:06PM  Capital Cube]
▶ ETFs with exposure to Penumbra, Inc. : July 21, 2017   [Jul-21-17 01:57PM  Capital Cube]
▶ ETFs with exposure to Penumbra, Inc. : July 10, 2017   [Jul-10-17 03:02PM  Capital Cube]
▶ ETFs with exposure to Penumbra, Inc. : June 26, 2017   [Jun-26-17 04:40PM  Capital Cube]
▶ ETFs with exposure to Penumbra, Inc. : June 12, 2017   [Jun-12-17 02:20PM  Capital Cube]
▶ Meet the highest-paid Bay Area executives under 40 in 2017   [Jun-05-17 03:30PM  American City Business Journals]
▶ Penumbra, Inc. Value Analysis (NYSE:PEN) : May 19, 2017   [May-19-17 02:36PM  Capital Cube]
▶ Penumbra reports 1Q loss   [May-09-17 05:42PM  Associated Press]
Financial statements of PEN
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.