Penguin Solutions Inc. (PENG) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$0.56	$0.84	+50.0%	—	$478.7M	—
Q2 26	$0.42	$0.52	+23.8%	—	$343M	—
Q1 26	$0.44	$0.49	+11.4%	—	$343.1M	—
Q4 25	$0.36	$0.43	+19.4%	—	$337.9M	—
Q3 25	$0.32	$0.47	+46.9%	—	$324.3M	—
Q2 25	$0.38	$0.52	+36.8%	—	$365.5M	—
Q1 25	$0.39	$0.49	+25.6%	—	$341.1M	—
Q4 24	$0.4	$0.37	-7.5%	—	$311.1M	—
Q3 24	$0.31	$0.37	+19.4%	—	$300.6M	—
Q2 24	$0.25	$0.27	+8.0%	—	$284.8M	—
Q1 24	$0.16	$0.24	+50.0%	—	$274.2M	—
Q4 23	$0.45	$0.35	-22.2%	—	$163.3M	—
Q3 23	$0.4	$0.66	+65.0%	—	$344.4M	—
Q2 23	$0.6	$0.76	+26.7%	—	$388.4M	—
Q1 23	$0.57	$0.79	+38.6%	—	$391.8M	—
Q4 22	$0.65	$0.8	+23.1%	—	$437.7M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.28	—	—	$1.4B	—
FY24	—	-$1	—	—	$1.2B	—
FY23	—	-$3.78	—	—	$1.4B	—
FY22	—	$1.35	—	—	$1.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$534.4M	$761.3M	$1.3B	$1.2B	$1.1B	$1.1B	$1.4B	$1.4B	$1.2B	$1.4B
YoY change	-16.9%	+42.5%	+69.3%	-5.96%	-7.39%	-5.96%	+32.2%	+3.25%	-18.8%	+16.9%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	534.4M	761.3M	1.3B	1.2B	1.1B	1.1B	1.4B	1.4B	1.2B	1.4B
Cost of revenue	427.5M	599M	997.2M	974.5M	906M	817.6M	1B	1B	830M	974.5M
Gross profit	106.9M	162.3M	291.6M	237.5M	216.4M	238M	391M	415.2M	340.8M	394.3M
Gross margin	20%	21.3%	22.6%	19.6%	19.3%	22.5%	28%	28.8%	29.1%	28.8%
Research & development	38.1M	38.2M	39.8M	47.9M	52.1M	59.9M	77.5M	90.6M	81.5M	79.8M
Selling, general & administrative	61.5M	69.8M	84.5M	103.2M	123M	158.2M	204.8M	260.7M	233.9M	238.2M
Operating expenses	99.6M	107.9M	124.4M	151.1M	178.6M	221.3M	282.5M	358.3M	322.5M	320.1M
Operating income	7.3M	54.3M	167.2M	86.4M	41.3M	16.7M	108.5M	56.8M	18.3M	74.2M
Operating margin	1.37%	7.14%	13%	7.13%	3.68%	1.58%	7.77%	3.94%	1.56%	5.42%
Non-operating income, net	739K	-23M	-10.3M	539K	-17M	-31.8M	-41.7M	-59.9M	-21.1M	-18M
Pretax income	-17.5M	2.1M	137.8M	66.2M	9.4M	-32.3M	42.5M	-39.5M	-31.2M	48.9M
Income tax	2.4M	9.9M	18.3M	14.9M	10.5M	9.7M	18.1M	-49.2M	10.6M	20.1M
Net income	-20M	-7.8M	119.5M	51.3M	-1.1M	22.5M	68.6M	-185.7M	-49.9M	28.8M
Net margin	-3.73%	-1.02%	9.27%	4.24%	-0.1%	2.13%	4.91%	-12.9%	-4.26%	2.11%
EBITDA	39.6M	88.1M	193.3M	116.6M	78.7M	52.2M	155.7M	129.6M	85.9M	131.5M
EPS	-0.48	-0.24	2.71	1.12	-0.03	0.44	1.35	-3.78	-1	0.28
Diluted EPS	-0.48	-0.24	2.58	1.09	-0.03	0.41	1.22	-3.78	-1	0.28

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	163.3M	274.2M	284.8M	300.6M	311.1M	341.1M	365.5M	324.3M	337.9M	343.1M	343M	478.7M
Cost of revenue	75.5M	191.4M	202.9M	211.7M	224.1M	243.3M	260.9M	229.2M	241.2M	247M	249.3M	345.5M
Gross profit	87.7M	82.8M	81.9M	88.9M	87.1M	97.8M	104.6M	95.1M	96.7M	96.1M	93.7M	133.2M
Gross margin	53.7%	30.2%	28.8%	29.6%	28%	28.7%	28.6%	29.3%	28.6%	28%	27.3%	27.8%
Research & development	17.6M	21.4M	20.5M	19.7M	19.9M	19.8M	19.9M	20.2M	19.9M	18.7M	19M	22M
Selling, general & administrative	56.3M	57.2M	61.4M	57.2M	58M	60.5M	59.3M	59.7M	58.6M	53.1M	48M	59.4M
Operating expenses	75M	78.6M	85.2M	77.4M	78.3M	80.4M	80.1M	79.9M	80.6M	71.8M	68M	82.4M
Operating income	12.8M	4.2M	-3.3M	11.5M	8.8M	17.5M	24.6M	15.1M	16.1M	24.3M	25.7M	50.9M
Operating margin	7.81%	1.53%	-1.16%	3.83%	2.83%	5.12%	6.72%	4.67%	4.78%	7.08%	7.49%	10.6%
Non-operating income, net	-4.3M	-2.3M	-248K	-441K	-21M	-736K	-5.9M	-3.9M	-6.6M	-16.4M	28M	3.5M
Pretax income	-3.9M	-7.7M	-10.8M	4.9M	-17.6M	12.3M	16.5M	10.7M	9.4M	7.9M	53M	53.7M
Income tax	-59.1M	3.5M	2.2M	-1.3M	6.2M	6.4M	7.6M	7.3M	-1.2M	1.8M	14.4M	7.5M
Net income	-140.2M	-19.4M	-13M	6.2M	-23.8M	6M	8.9M	3.5M	10.6M	6.1M	38.5M	46.2M
Net margin	-85.8%	-7.06%	-4.57%	2.07%	-7.65%	1.75%	2.43%	1.06%	3.12%	1.76%	11.2%	9.65%
EBITDA	23.7M	21.9M	14.1M	27.4M	25.3M	32.8M	38.9M	29.4M	29.4M	36.6M	38.4M	63.8M
EPS	-2.77	-0.38	-0.26	0.11	-0.46	0.1	0.09	-0.01	0.11	0.04	0.59	0.73
Diluted EPS	-2.77	-0.38	-0.26	0.11	-0.46	0.1	0.09	-0.01	0.11	0.04	0.58	0.68

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	652.3M	604.6M	1.2B	907.7M	1.3B	1.1B	1.3B	2.8B
Enterprise value	—	—	—	760.6M	675.5M	1.4B	1.2B	1.7B	1.4B	1.4B	3.2B
Shares outstanding	41.4M	31.6M	44.1M	45.9M	48M	48.6M	49.5M	49.6M	52.4M	53.2M	53.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	12.7	—	52.3	13.2	—	—	44.5	40.4
P/S	—	—	—	0.54	0.54	1.11	0.65	0.89	0.93	0.94	1.92
P/B	—	—	—	2.39	2.14	3.69	2.4	5.59	2.72	2.11	6.56
EV/EBITDA	—	—	—	6.52	8.58	25.9	8	13.5	16.5	10.3	18.2
EV/Sales	—	—	—	0.63	0.6	1.28	0.89	1.21	1.21	0.99	2.11
Earnings yield	—	—	—	7.87%	—	1.91%	7.56%	—	—	2.25%	2.47%
FCF yield	—	—	—	20.9%	9.06%	11.6%	9.32%	5.07%	5.32%	7.8%	-3.82%
PEG	—	—	—	—	—	—	—	—	—	—	-0.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	20%	21.3%	22.6%	19.6%	19.3%	22.5%	28%	28.8%	29.1%	28.8%	27.8%
Operating margin	1.37%	7.14%	13%	7.13%	3.68%	1.58%	7.77%	3.94%	1.56%	5.42%	10.8%
Net margin	-3.73%	-1.02%	9.27%	4.24%	-0.1%	2.13%	4.91%	-12.9%	-4.26%	2.11%	6.44%
ROE	1.6K%	-9.46%	63.8%	18.8%	-0.41%	7.06%	18.1%	-81%	-12.5%	4.74%	16.2%
ROA	-4.35%	-1.62%	17.8%	7.29%	-0.15%	1.67%	4.36%	-12.3%	-3.39%	1.78%	3.84%
ROIC	4%	0%	39.5%	17.5%	0%	3.38%	8.7%	8.17%	2.51%	6.44%	13.3%
Return on tangible assets	-5.96%	-2.06%	22.6%	12.7%	-0.22%	2.26%	5.25%	-21.6%	-5.5%	2.51%	5.74%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.39	1.45	1.76	1.99	1.97	1.63	2.23	2.13	2.65	2.25	1.54
Quick ratio	0.94	0.92	1.02	1.49	1.39	1.01	1.72	1.72	2.19	1.71	1.1
Debt / equity	-196.2	2.15	1.13	0.76	0.79	1.25	1.72	3.74	1.8	0.86	0.77
Debt / assets	0.53	0.37	0.31	0.29	0.28	0.3	0.41	0.57	0.49	0.32	0.23
Net debt / EBITDA	4.65	1.76	0.93	0.93	0.9	3.36	2.17	3.6	3.82	0.54	0.37
Interest coverage	0.32	1.07	8.2	4.2	1.62	-0.88	2.74	-0.08	-0.1	7.69	79.8
Effective tax rate	0%	100%	13.3%	22.5%	100%	0%	42.5%	0%	0%	41%	18.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	12.9	24.1	29.2	26.4	23.4	21.7	28.2	29.1	22.3	25.8	28.8
EPS (basic)	-0.48	-0.24	2.71	1.12	-0.03	0.44	1.35	-3.78	-1	0.28	0.28
EPS (diluted)	-0.48	-0.24	2.58	1.09	-0.03	0.41	1.22	-3.78	-1	0.28	1.39
Book value per share	-0.03	2.61	4.24	5.96	5.88	6.57	7.65	4.62	7.61	11.4	8.57
FCF per share	0.03	-0.62	0.96	2.97	1.14	2.81	1.71	1.31	1.1	1.88	-1.26
Cash per share	1.42	0.71	0.71	2.14	3.14	4.59	6.33	7.88	7.43	8.54	8.59
Capex per share	0.01	0.02	0.01	0	0.01	—	—	—	—	0.17	0.19

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.05%	0.09%	0.02%	0.01%	0.04%	—	—	—	—	0.66%	0.68%
Capex / operating cash flow	3.37%	-1.8%	0.42%	0.05%	0.58%	—	—	—	—	8.26%	-17.3%
Payout ratio	—	—	—	—	—	—	—	—	—	27.3%	0%
Dividend yield	—	—	—	—	—	—	—	—	—	0.61%	0.61%

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$163.3M	$274.2M	$284.8M	$300.6M	$311.1M	$341.1M	$365.5M	$324.3M	$337.9M	$343.1M	$343M	$478.7M
YoY change	-62.7%	-30%	-26.7%	-12.7%	+90.6%	+24.4%	+28.3%	+7.88%	+8.6%	+0.58%	-6.16%	+47.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	58.6M	22.4M	31.4M	98.1M	150.8M	223M	313.3M	390.8M	389.5M	453.8M
Receivables	142.5M	183.3M	237.2M	217.4M	215.9M	313.4M	355M	219.2M	251.7M	307.9M
Inventory	103.1M	127.1M	221.4M	118.7M	163M	363.6M	263.8M	175M	151.2M	255.2M
Total current assets	319.3M	347M	522M	472.3M	556.7M	950.8M	1.2B	907.4M	867.7M	1.1B
Property, plant & equipment	57.6M	55.2M	56.6M	68.3M	89.1M	143.6M	127.3M	117.9M	96.4M	82.2M
Goodwill & intangibles	123.7M	102.3M	143.3M	301.5M	259.3M	350.7M	265.9M	644.3M	566.8M	467.3M
Total assets	458.7M	480M	672.8M	704.1M	786.6M	1.3B	1.6B	1.5B	1.5B	1.6B
Accounts payable	198M	189.7M	223.2M	164.9M	224.7M	429.6M	293.2M	135M	182M	267.5M
Short-term debt	17.1M	22.8M	27.4M	24.1M	5.3M	25.4M	8.5M	35.6M	—	19.9M
Total current liabilities	229.2M	239.9M	295.8M	237.9M	282.5M	583.8M	515.5M	426.3M	327.6M	473.9M
Long-term debt	225.6M	154.4M	184.2M	182.4M	216.4M	372.9M	642.7M	821.2M	717.9M	504.6M
Total liabilities	459.9M	397.6M	485.6M	430.7M	504.5M	1B	1.2B	1.3B	1.1B	1B
Shareholders' equity	-1.2M	82.4M	187.1M	273.5M	282.1M	318.9M	378.5M	229.2M	399.2M	608.2M
Total debt	242.7M	177.3M	211.6M	206.5M	221.7M	398.3M	651.1M	856.8M	717.9M	524.6M
Net debt	184.1M	154.9M	180.2M	108.4M	70.9M	175.3M	337.8M	491.3M	334.7M	70.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	390.8M	553.4M	465.8M	467.5M	389.5M	393.7M	647M	735.5M	453.8M	461.5M	489.2M	440.3M
Receivables	219.2M	170.6M	169.7M	211.8M	251.7M	275.6M	330.4M	292.5M	307.9M	326.9M	369.9M	703M
Inventory	175M	208.4M	172.8M	177.3M	151.2M	247M	199.7M	184.3M	255.2M	213.2M	322.4M	498.3M
Total current assets	907.4M	986.8M	884.7M	942.3M	867.7M	995.6M	1.2B	1.2B	1.1B	1.1B	1.2B	1.7B
Property, plant & equipment	117.9M	109.3M	104.2M	101.1M	96.4M	91.2M	85.9M	87.7M	82.2M	77.4M	73.1M	70.2M
Goodwill & intangibles	644.3M	624.5M	605.8M	586.7M	566.8M	547.8M	518.3M	491.4M	467.3M	452.9M	438.7M	424.9M
Total assets	1.5B	1.6B	1.5B	1.5B	1.5B	1.6B	1.8B	1.8B	1.6B	1.6B	1.7B	2.2B
Accounts payable	135M	181.8M	148M	191.8M	182M	244.3M	238.2M	272.1M	267.5M	304.9M	401.5M	735.9M
Short-term debt	35.6M	28.5M	—	—	—	—	19.9M	19.9M	19.9M	20M	—	148.4M
Total current liabilities	426.3M	368.8M	268M	351.1M	327.6M	426.9M	473.7M	476.7M	473.9M	458.1M	590.7M	1.1B
Long-term debt	821.2M	812.7M	803.2M	729.1M	717.9M	716.7M	695.7M	703.2M	504.6M	503.7M	503.5M	354.1M
Total liabilities	1.3B	1.2B	1.1B	1.1B	1.1B	1.2B	1.2B	1.2B	1B	993.7M	1.1B	1.5B
Shareholders' equity	229.2M	416M	411.5M	430.5M	399.2M	408.9M	611.9M	594.9M	608.2M	604.5M	610.7M	656.4M
Total debt	856.8M	841.2M	803.2M	729.1M	717.9M	716.7M	715.6M	723.1M	524.6M	523.7M	503.5M	502.5M
Net debt	491.3M	312.2M	360.9M	275.3M	334.7M	346.4M	93.9M	13.3M	70.8M	62.3M	14.4M	62.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-20M	-7.8M	119.5M	51.3M	-1.1M	-42M	24.4M	9.7M	-41.8M	28.8M
Depreciation & amortization	31.5M	33.2M	26.2M	29.2M	36.4M	34.9M	46.7M	71.6M	65.7M	56.2M
Stock-based compensation	3.9M	5.4M	10.6M	18.2M	18.7M	31M	37.3M	39.2M	43.2M	41.2M
Change in working capital	-10.3M	-72.9M	-80.2M	70.4M	9.8M	-142.1M	-78.1M	264.5M	368K	-150.1M
Operating cash flow	8.3M	-36.2M	73.2M	168.5M	70.1M	-79.6M	82.4M	284.8M	28.5M	109.1M
Capital expenditure	281K	651K	305K	81K	404K	—	—	—	—	-9M
Investing cash flow	475K	651K	-42M	-75.9M	808K	-36.8M	-875K	-241.8M	7.6M	-3.4M
Dividends paid	—	—	—	—	—	—	—	—	—	-7.9M
Share repurchases	-124K	0	0	-520K	-749K	-48.5M	-57.2M	-24.7M	-21.3M	-52.3M
Financing cash flow	-290.2M	-475.1M	-461.2M	-254.9M	-90.4M	-162.2M	-48.4M	237.2M	-209.5M	-63.5M
Net change in cash	-281.4M	-510.7M	-430.1M	-162.3M	-19.5M	-278.6M	33.2M	280.3M	-173.4M	42.2M
Free cash flow	1.2M	-19.6M	42.2M	136.2M	54.8M	136.7M	84.6M	65M	57.8M	100.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	55.2M	-11.2M	-13M	6.2M	-23.8M	6M	8.9M	3.5M	10.6M	6.1M	38.5M	46.2M
Depreciation & amortization	10.6M	17.7M	17.1M	15.5M	15.4M	15M	14M	14M	13.2M	12.8M	12.8M	12.3M
Stock-based compensation	8.4M	11M	10.6M	11.2M	10.4M	11.5M	11.6M	10.3M	7.8M	10.1M	5.1M	10M
Change in working capital	-43.2M	17.3M	13.3M	-31.2M	986K	-116.6M	7.5M	51.3M	-92.3M	7M	-139.7M	-496.9M
Operating cash flow	36.9M	36.1M	345K	-4.5M	-3.5M	-83.7M	42.1M	79.8M	-70.4M	31.1M	55M	-74.8M
Capital expenditure	—	—	—	—	—	—	—	—	-2.9M	-2.9M	-1.6M	-2.8M
Investing cash flow	-4.4M	1M	698K	8.4M	-2.5M	-17.1M	-2M	-557K	22.4M	-3.4M	30.3M	36.2M
Dividends paid	—	—	—	—	—	—	-2.2M	-2.9M	-2.8M	-3.1M	-3.1M	-2.9M
Share repurchases	-7.8M	-13.1M	-2.7M	-2.1M	-3.3M	-11.1M	-6.5M	-31.6M	-3.1M	-20.2M	-36.9M	-11.8M
Financing cash flow	19.5M	-26.1M	-60.2M	-73.3M	-49.9M	-7.8M	182.9M	-30.5M	-304.8M	-20M	-37.5M	-10.3M
Net change in cash	52M	11M	-59.1M	-69.5M	-55.8M	-108.5M	223M	48.8M	-352.9M	7.7M	47.7M	-48.9M
Free cash flow	34.9M	26.8M	-27.1M	76M	-18M	12M	70.5M	90.9M	-73.4M	28.2M	53.3M	-77.6M

Penguin Solutions Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement