PEN vs. ELF

Last updated Jun 3, 2026

PEN (Penumbra, Inc.) and ELF (e.l.f. Beauty, Inc.) are both stocks. PEN operates in Medical Devices (Healthcare), while ELF operates in Household & Personal Products (Consumer Defensive). Over the past 5 years, PEN returned 4.43%/yr vs 13.72%/yr for ELF. At a 0.22 correlation, their price movements are largely independent.

Performance

PEN vs. ELF - Performance Comparison

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

Returns By Period

In the year-to-date period, PEN achieves a 2.52% return, which is significantly higher than ELF's -31.64% return.

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%

ELF

• 1D: -2.82%
• 1M: -14.07%
• YTD: -31.64%
• 6M: -29.95%
• 1Y: -54.31%
• 3Y*: -20.94%
• 5Y*: 13.72%
• 10Y*: —

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

PEN vs. ELF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEN Penumbra, Inc.	2.52%	30.92%	-5.59%	13.07%	-22.57%	64.18%	6.53%	34.43%	29.86%	47.49%
ELF e.l.f. Beauty, Inc.	-31.64%	-39.43%	-13.02%	161.01%	66.52%	31.84%	56.17%	86.26%	-61.18%	-22.91%

Correlation

The correlation between PEN and ELF is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (All Time) Calculated using the full available price history since Sep 23, 2016	0.22

The correlation between PEN and ELF shifts across timeframes, from 0.10 (1 year) to 0.25 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PEN : $12.60B ELF : $3.12B
EPS PEN : $4.34 ELF : $0.44
PE Ratio PEN : 73.37 ELF : 117.22
PEG Ratio PEN : 0.11 ELF : 2.62
PS Ratio PEN : 8.63 ELF : 1.89
PB Ratio PEN : 8.55 ELF : 2.76
Total Revenue (TTM) PEN : $1.45B ELF : $1.64B
Gross Profit (TTM) PEN : $979.97M ELF : $1.16B
EBITDA (TTM) PEN : $212.61M ELF : $185.47M

Return for Risk

PEN vs. ELF — Risk / Return Rank

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

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

ELF

ELF Risk / Return Rank: 9
ELF Sharpe Ratio Rank: 8
ELF Sortino Ratio Rank: 10
ELF Omega Ratio Rank: 9
ELF Calmar Ratio Rank: 9
ELF Martin Ratio Rank: 7

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.

PEN vs. ELF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Penumbra, Inc. (PEN) and e.l.f. Beauty, Inc. (ELF). 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.

	PEN	ELF	Difference
Sharpe ratio Return per unit of total volatility	0.73	-0.83	+1.56
Sortino ratio Return per unit of downside risk	1.64	-1.01	+2.65
Omega ratio Gain probability vs. loss probability	1.21	0.86	+0.36
Calmar ratio Return relative to maximum drawdown	0.90	-0.82	+1.73
Martin ratio Return relative to average drawdown	2.54	-1.40	+3.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEN vs. ELF - Sharpe Ratio Comparison

The current PEN Sharpe Ratio is 0.73, which is higher than the ELF Sharpe Ratio of -0.83. The chart below compares the historical Sharpe Ratios of PEN and ELF, 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

	PEN	ELF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	-0.83	+1.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.24	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.13	+0.37

Drawdowns

PEN vs. ELF - Drawdown Comparison

The maximum PEN drawdown since its inception was -62.64%, smaller than the maximum ELF drawdown of -77.09%. Use the drawdown chart below to compare losses from any high point for PEN and ELF.

Drawdown Indicators

	PEN	ELF	Difference
Max Drawdown Largest peak-to-trough decline	-62.64%	-77.09%	+14.45%
Max Drawdown (1Y) Largest decline over 1 year	-21.44%	-65.42%	+43.98%
Max Drawdown (3Y) Largest decline over 3 years	-52.44%	-77.09%	+24.65%
Max Drawdown (5Y) Largest decline over 5 years	-60.14%	-77.09%	+16.95%
Max Drawdown (10Y) Largest decline over 10 years	-62.64%	—	—
Current Drawdown Current decline from peak	-11.31%	-76.16%	+64.85%
Average Drawdown Average peak-to-trough decline	-17.59%	-32.30%	+14.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.63%	38.32%	-30.69%

Volatility

PEN vs. ELF - Volatility Comparison

The current volatility for Penumbra, Inc. (PEN) is 3.02%, while e.l.f. Beauty, Inc. (ELF) has a volatility of 17.16%. This indicates that PEN experiences smaller price fluctuations and is considered to be less risky than ELF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEN	ELF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.02%	17.16%	-14.14%
Volatility (6M) Calculated over the trailing 6-month period	17.73%	42.19%	-24.46%
Volatility (1Y) Calculated over the trailing 1-year period	33.87%	65.82%	-31.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.18%	57.13%	-15.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.49%	55.15%	-13.66%

Dividends

PEN vs. ELF - Dividend Comparison

Neither PEN nor ELF has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

PEN vs. ELF - Profitability Comparison

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

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%.

ELF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, e.l.f. Beauty, Inc. reported a gross profit of 326.45M and revenue of 449.29M. Therefore, the gross margin over that period was 72.7%.

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%.

ELF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, e.l.f. Beauty, Inc. reported an operating income of 7.32M and revenue of 449.29M, resulting in an operating margin of 1.6%.

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%.

ELF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, e.l.f. Beauty, Inc. reported a net income of -49.37M and revenue of 449.29M, resulting in a net margin of -11.0%.

Frequently Asked Questions

Can I hold both PEN and ELF in my portfolio?

PEN and ELF have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEN or ELF?

ELF has higher volatility (17.16%) compared to PEN (3.02%). In terms of maximum drawdown, PEN dropped -62.64% vs ELF's -77.09%.

Which has better risk-adjusted returns?

PEN currently has the higher Sharpe Ratio (0.73 vs -0.83), 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.