MEDP vs. PEN

Last updated Jun 3, 2026

MEDP (Medpace Holdings, Inc.) and PEN (Penumbra, Inc.) are both stocks. Both are in the Healthcare sector — MEDP in Diagnostics & Research, PEN in Medical Devices. Over the past 5 years, MEDP returned 21.44%/yr vs 4.43%/yr for PEN. At a 0.32 correlation, their price movements are largely independent.

Performance

MEDP vs. PEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Medpace Holdings, Inc. (MEDP) and Penumbra, Inc. (PEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MEDP achieves a -20.66% return, which is significantly lower than PEN's 2.52% return.

MEDP

• 1D: -1.30%
• 1M: 6.72%
• YTD: -20.66%
• 6M: -23.66%
• 1Y: 49.62%
• 3Y*: 28.08%
• 5Y*: 21.44%
• 10Y*: —

PEN

• 1D: -0.07%
• 1M: -2.03%
• YTD: 2.52%
• 6M: 10.79%
• 1Y: 24.43%
• 3Y*: -0.22%
• 5Y*: 4.43%
• 10Y*: 19.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MEDP vs. PEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MEDP Medpace Holdings, Inc.	-20.66%	69.05%	8.38%	44.31%	-2.40%	56.35%	65.60%	58.81%	45.97%	0.53%
PEN Penumbra, Inc.	2.52%	30.92%	-5.59%	13.07%	-22.57%	64.18%	6.53%	34.43%	29.86%	47.49%

Correlation

The correlation between MEDP and PEN is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Aug 12, 2016	0.32

The correlation between MEDP and PEN shifts across timeframes, from 0.14 (1 year) to 0.35 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MEDP : $12.91B PEN : $12.60B
EPS MEDP : $15.63 PEN : $4.34
PE Ratio MEDP : 28.50 PEN : 73.37
PEG Ratio MEDP : 0.86 PEN : 0.11
PS Ratio MEDP : 4.90 PEN : 8.63
PB Ratio MEDP : 21.57 PEN : 8.55
Total Revenue (TTM) MEDP : $2.68B PEN : $1.45B
Gross Profit (TTM) MEDP : $778.59M PEN : $979.97M
EBITDA (TTM) MEDP : $572.96M PEN : $212.61M

Return for Risk

MEDP vs. PEN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MEDP

MEDP Risk / Return Rank: 69
MEDP Sharpe Ratio Rank: 64
MEDP Sortino Ratio Rank: 70
MEDP Omega Ratio Rank: 78
MEDP Calmar Ratio Rank: 67
MEDP Martin Ratio Rank: 67

PEN

PEN Risk / Return Rank: 64
PEN Sharpe Ratio Rank: 64
PEN Sortino Ratio Rank: 67
PEN Omega Ratio Rank: 67
PEN Calmar Ratio Rank: 59
PEN Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MEDP vs. PEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Medpace Holdings, Inc. (MEDP) and Penumbra, Inc. (PEN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MEDP	PEN	Difference
Sharpe ratio Return per unit of total volatility	0.72	0.73	-0.01
Sortino ratio Return per unit of downside risk	1.74	1.64	+0.10
Omega ratio Gain probability vs. loss probability	1.30	1.21	+0.08
Calmar ratio Return relative to maximum drawdown	1.40	0.90	+0.49
Martin ratio Return relative to average drawdown	3.23	2.54	+0.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MEDP vs. PEN - Sharpe Ratio Comparison

The current MEDP Sharpe Ratio is 0.72, which is comparable to the PEN Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of MEDP and PEN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MEDP	PEN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	0.73	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.11	+0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.50	+0.16

Drawdowns

MEDP vs. PEN - Drawdown Comparison

The maximum MEDP drawdown since its inception was -42.87%, smaller than the maximum PEN drawdown of -62.64%. Use the drawdown chart below to compare losses from any high point for MEDP and PEN.

Drawdown Indicators

	MEDP	PEN	Difference
Max Drawdown Largest peak-to-trough decline	-42.87%	-62.64%	+19.77%
Max Drawdown (1Y) Largest decline over 1 year	-36.61%	-21.44%	-15.17%
Max Drawdown (3Y) Largest decline over 3 years	-39.38%	-52.44%	+13.06%
Max Drawdown (5Y) Largest decline over 5 years	-42.87%	-60.14%	+17.27%
Max Drawdown (10Y) Largest decline over 10 years	—	-62.64%	—
Current Drawdown Current decline from peak	-28.20%	-11.31%	-16.89%
Average Drawdown Average peak-to-trough decline	-12.89%	-17.59%	+4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.83%	7.63%	+8.20%

Volatility

MEDP vs. PEN - Volatility Comparison

Medpace Holdings, Inc. (MEDP) has a higher volatility of 6.99% compared to Penumbra, Inc. (PEN) at 3.02%. This indicates that MEDP's price experiences larger fluctuations and is considered to be riskier than PEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEDP	PEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.99%	3.02%	+3.97%
Volatility (6M) Calculated over the trailing 6-month period	38.11%	17.73%	+20.38%
Volatility (1Y) Calculated over the trailing 1-year period	69.32%	33.87%	+35.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.61%	41.18%	+10.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.83%	41.49%	+8.34%

Dividends

MEDP vs. PEN - Dividend Comparison

Neither MEDP nor PEN has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

MEDP vs. PEN - Profitability Comparison

The chart below illustrates the profitability comparison between Medpace Holdings, Inc. and Penumbra, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MEDP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Medpace Holdings, Inc. reported a gross profit of 196.33M and revenue of 706.60M. Therefore, the gross margin over that period was 27.8%.

PEN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Penumbra, Inc. reported a gross profit of 253.41M and revenue of 374.76M. Therefore, the gross margin over that period was 67.6%.

MEDP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Medpace Holdings, Inc. reported an operating income of 141.50M and revenue of 706.60M, resulting in an operating margin of 20.0%.

PEN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Penumbra, Inc. reported an operating income of 38.23M and revenue of 374.76M, resulting in an operating margin of 10.2%.

MEDP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Medpace Holdings, Inc. reported a net income of 123.87M and revenue of 706.60M, resulting in a net margin of 17.5%.

PEN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Penumbra, Inc. reported a net income of 32.58M and revenue of 374.76M, resulting in a net margin of 8.7%.

Frequently Asked Questions

Can I hold both MEDP and PEN in my portfolio?

MEDP and PEN have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MEDP or PEN?

MEDP has higher volatility (6.99%) compared to PEN (3.02%). In terms of maximum drawdown, MEDP dropped -42.87% vs PEN's -62.64%.

Which has better risk-adjusted returns?

PEN currently has the higher Sharpe Ratio (0.73 vs 0.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.