Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Penumbra, Inc. (PEN) Halal?

PASS

Penumbra, Inc. · NYSE: PEN · Healthcare

The short answer

Penumbra passes all three Shariah gates: it makes medical devices (thrombectomy, embolization, neurovascular - no interest-based business), carries $0 of interest-bearing debt (0.0% of its ~$12.54 billion market cap), and separately disclosed interest income of about 1.07% of revenue is under the 5% ceiling. Note: Boston Scientific's acquisition of Penumbra was still pending as of October 2026.

Gate 1 — Business activity: PASS

Gate 1 — business activity: PASS. Penumbra, Inc., per its FY2025 earnings release (February 2026), is a medical device company headquartered in Alameda, California, founded in 2004, describing itself as the world's leading thrombectomy company. Its portfolio centers on computer assisted vacuum thrombectomy (CAVT) — including the Lightning Flash and Lightning Bolt systems — for ischemic stroke, pulmonary embolism, deep vein thrombosis, acute limb ischemia, heart attack, and aneurysms, plus peripheral embolization and neurovascular products (access, stroke revascularization, neuro embolization), sold in more than 100 countries.

The company designs and manufactures medical devices. It is not an interest-based lender and is not involved in tobacco, gambling, pork, or conventional banking or insurance. For transparency: Boston Scientific agreed to acquire Penumbra for about $14.8 billion ($374 per share, ~73% cash / ~27% stock) under an Agreement and Plan of Merger announced January 14, 2026 (Form 8-K). The deal was still pending as of October 2, 2026 — Penumbra shares remain NYSE-listed, and the filing states the shares would be delisted only if the merger is consummated. The pending transaction does not change the business assessment. The business passes gate 1.

Gate 2 — Debt and cash: PASS

Gate 2 — interest-bearing debt: PASS (0.0%, ceiling 33%). Penumbra carries no interest-bearing debt. Its condensed consolidated balance sheets — at both December 31, 2025 (FY2025 10-K/Q4 2025 earnings release) and June 30, 2026 (Q2 2026 10-Q, per the Quartr-furnished 10-Q) — show no debt lines at all: liabilities consist only of accounts payable, accrued liabilities, current and noncurrent operating and finance lease liabilities, and other noncurrent liabilities (total liabilities $398,916 thousand at December 31, 2025). Finance lease liabilities are excluded — they are not interest-bearing debt.

$0 of interest-bearing debt against a market capitalization of about $12.54 billion (Finnhub, October 2, 2026) is 0.0%, far under the 33% ceiling. Cash and cash equivalents of $186,897 thousand plus marketable investments of $357,919 thousand at December 31, 2025 ($544.8 million combined) represent about 4.3% of market capitalization.

Gate 3 — Non-compliant income: PASS

Gate 3 — non-compliant income: PASS (1.07%, ceiling 5%). Penumbra's FY2025 earnings release (Exhibit 99.1, furnished to the SEC) separately breaks out interest income, net of $14,983 thousand in its adjusted EBITDA reconciliation. Against revenue of $1,403,665 thousand, that is about 1.07% — under the 5% ceiling.

For transparency: the 10-K income statement bundles this into 'Interest and other income, net' of $15,876 thousand, and Zoya reads PEN's interest income as $0 — this screener instead uses the company's separately disclosed figure, which remains comfortably under the ceiling.

Key figures used

Frequently asked questions

What does Penumbra do?

Penumbra, Inc. (NYSE: PEN) is a medical device company headquartered in Alameda, California, founded in 2004. Per its FY2025 earnings release (February 2026), it describes itself as the world's leading thrombectomy company, developing technologies for ischemic stroke, venous thromboembolism such as pulmonary embolism, and acute limb ischemia. Its portfolio centers on computer assisted vacuum thrombectomy (CAVT), including the Lightning Flash and Lightning Bolt systems, plus peripheral embolization and neurovascular (stroke revascularization, neuro embolization) products sold in more than 100 countries. FY2025 revenue was $1,403.7 million. Note: Boston Scientific agreed to acquire Penumbra for about $14.8 billion ($374 per share) in January 2026 - the deal was still pending as of October 2026; Penumbra shares remain NYSE-listed.

Is Penumbra's business Shariah compliant?

Penumbra's business passes this screener's first gate. It designs and manufactures medical devices - thrombectomy systems that remove blood clots, embolization products, and neurovascular devices for stroke care - and is not an interest-based lender. It is not involved in tobacco, gambling, pork, or conventional banking or insurance. For transparency: Boston Scientific's $14.8 billion acquisition of Penumbra, announced January 2026, was still pending as of October 2, 2026 - if it closes, Penumbra shares will be delisted from the NYSE. The pending deal does not change the business assessment.

How much interest-bearing debt does Penumbra have?

Penumbra carries no interest-bearing debt. Its condensed consolidated balance sheets show no debt lines at all - at both December 31, 2025 and June 30, 2026, liabilities consist only of accounts payable, accrued liabilities, operating and finance lease liabilities, and other noncurrent liabilities. $0 of interest-bearing debt against a market capitalization of about $12.54 billion (Finnhub, October 2, 2026) is 0.0% - far under the 33% ceiling. Cash and cash equivalents of $186.9 million plus marketable investments of $357.9 million at December 31, 2025 represent about 4.3% of market capitalization.

How much interest income does Penumbra earn?

Penumbra's FY2025 earnings release separately breaks out interest income, net of $14,983 thousand in its adjusted EBITDA reconciliation against revenue of $1,403,665 thousand - about 1.07%, under the 5% non-compliant income ceiling. (For transparency: the 10-K income statement bundles this into 'Interest and other income, net' of $15,876 thousand; Zoya records interest income as $0 for PEN. This screener uses the company's separately disclosed figure.)

What do third-party Shariah screeners say about Penumbra?

Zoya publishes a PEN page (AAOIFI) and flags Penumbra as Shariah-compliant - consistent with this screener's PASS. Zoya reads PEN's interest income as $0 from the 10-K income statement, where it is bundled into 'Interest and other income, net' - this screener instead uses the $14,983 thousand separately disclosed in the company's earnings-release reconciliation, which is still under the ceiling. I could not verify a Musaffa rating page for PEN or a ShariaPortfolio rating from public sources. Third-party screeners apply different assumptions and update on different schedules, and their results can change when new financial statements are published - always check the latest screening before investing.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).