Penguin Solutions, Inc. (PENG)

Penguin Solutions, Inc. designs, builds, deploys and manages enterprise solutions worldwide. The company operates through three segments: Advanced Computing, Integrated Memory, and Optimized LED. It offers hardware, software, and services focusing on technical computing for core and cloud environments through computing and AI solutions. The company also provides Penguin Solutions OriginAI, an AI infrastructure solution for customers deploying GPUs at scale; continuous availability of customers critical data and applications in data centers and edge locations under the Stratus brand products; and dynamic random-access memory, modules, solid-state/flash storage, and integrated memory solutions to networking and telecom, data analytics, AI, and ML under the SMART Modular Technologies brand. In addition, it provides Zefr, a memory module; Altus and AMD EPYC based servers for expansive memory for AI workloads; flash memory products comprising solid-state drives, Serial Advanced Technology Attachment, and PCIe NVMe products in 2.5 enclosures, M.2, EDSFF, and other form factors; and multimediacard and embedded and removable USB products, SD and microSD Card configurations, and firmware development. Further, the company offers procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging supply chain services; and LEDs under the Cree LED brand; Cree LED XLamp and J Series packaged LED components. It serves OEMs, enterprises, government, and other customers through direct and third-party channels. The company has a strategic collaboration with Deepgram, Dell Technologies, and ZulaFly to offer healthcare, location-based workflow, and safety solutions. The company was formerly known as SMART Global Holdings, Inc. and changed its name to Penguin Solutions, Inc. in October 2024. Penguin Solutions, Inc. was founded in 1988 and is headquartered in Fremont, California.

Symbol
PENG
Exchange
Nasdaq
Sector
Technology
Industry
Information Technology Services
Market cap
$3.14B
52 week range
16.04 - 89.86

Valuation

Share price
$61.36 (close of 2026-10-02)
P/E (TTM)
41.74x
Price to book
6.93x
Price to free cash flow
-45.28x
Enterprise value
$3.21B
Book value per share
$8.85

Price performance

PeriodChange
1 day+11.60%
5 days+9.14%
1 month+28.93%
3 months-0.18%
6 months+196.57%
Year to date+213.70%
1 year+123.45%
3 years+150.04%
5 years+171.02%
All time+813.10%

Profitability and growth

Return on equity
6.26%
Return on invested capital
7.99%
Return on assets
1.57%
Return on capital employed
5.08%
Gross margin
28.80%
Net margin
1.85%
EBITDA margin
8.35%
Revenue growth
16.91%
Net income growth
148.39%
Free cash flow growth
73.25%

Cash flow and balance sheet

Free cash flow yield (TTM)
-2.21%
Current ratio
1.54x
Net debt to EBITDA
0.35x

Latest reported year

Period end
2025-08-29
Fiscal year
2025
Revenue
$1.37B
Cost of revenue
$974.52M
Gross profit
$394.27M
EBITDA
$114.35M
Net income
$25.39M
Earnings per share
$0.29
Research and development
$79.80M
Shares outstanding
53.15M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-08-29$1.37B$394.27M$25.39M$0.29
2024-08-30$1.17B$340.78M-$52.47M$-1.00
2023-08-25$1.44B$415.17M-$187.53M$-3.78
2022-08-26$1.40B$391.05M$66.56M$1.35
2021-08-27$1.06B$237.97M$21.31M$0.44
2020-08-28$1.12B$216.40M-$1.14M$-0.02
2019-08-30$1.21B$237.53M$51.33M$1.12
2018-08-31$1.29B$291.59M$119.46M$2.71
2017-08-25$761.29M$162.25M-$7.79M$-0.24
2016-08-26$534.42M$106.93M-$19.96M$-0.72

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-08-2928.80%1.85%6.26%7.99%
2024-08-3029.11%-4.48%-13.14%1.26%
2023-08-2528.81%-13.01%-81.81%1.26%
2022-08-2628.01%4.77%17.58%6.85%
2021-08-2722.55%2.02%6.68%-3.18%
2020-08-2819.28%-0.10%-0.41%8.73%
2019-08-3019.60%4.24%18.77%19.44%
2018-08-3122.62%9.27%63.84%41.35%
2017-08-2521.31%-1.02%-9.46%18.53%
2016-08-2620.01%-3.73%1613.58%2.05%

Cash and debt by year

Period endCashDebt
2025-08-29$453.75M$441.89M
2024-08-30$389.48M$657.35M
2023-08-25$390.81M$754.82M
2022-08-26$313.33M$575.68M
2021-08-27$222.99M$340.48M
2020-08-28$150.81M$195.57M
2019-08-30$98.14M$182.45M
2018-08-31$31.38M$184.19M
2017-08-25$22.44M$154.45M
2016-08-26$58.63M$225.59M

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-08-29$100.07M$41.18M
2024-08-30$57.76M$43.16M
2023-08-25$64.97M$39.23M
2022-08-26$84.57M$37.28M
2021-08-27$136.68M$30.96M
2020-08-28$54.76M$18.72M
2019-08-30$136.22M$18.20M
2018-08-31$42.17M$10.56M
2017-08-25-$19.61M$5.36M
2016-08-26$1.21M$3.87M

Investor relations

Next earnings report

Next confirmed report
2026-10-06
Consensus EPS estimate
$0.61

Past earnings dates

ReportedFiscal periodEPS estimate
2026-07-07May/2026$0.49
2026-04-01Feb/2026$0.28
2026-01-06Nov/2025$0.25
2025-10-07Aug/2025$0.22
2025-07-08May/2025$0.17
2025-04-02Feb/2025$0.22
2025-01-08Nov/2024$0.26
2024-10-15Aug/2024$0.27

Filings and sources

Company website
penguinsolutions.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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