Forensic Analysis · Semiconductors · as of Aug 11, 2026

Penguin Solutions, Inc. (PENG)

A forensic read on Penguin Solutions, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Safe

Financial health

5.8

Distress distance

Clean

Earnings quality

Forensic signals

31.2

P / E (ttm)

6.4%

ROE

$2.9B

Market cap

0.39%

Dividend yield

16.9%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Penguin Solutions, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 5.8, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

5.3%

FY2025

Return on invested capital. Return on invested capital is 5.3% in the latest fiscal year and steady — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.

-0.0%/yr

FY2022–FY2025

Share count. Diluted share count changed -0% over the last 3 years to FY2025 (-0.0%/yr). Roughly flat — buybacks ($52M) are about offsetting stock comp ($41M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

$35M

FY2023–FY2025

Goodwill impairments. Took $35M of goodwill writedowns across 2 years (FY2023 ($19M), FY2025 ($16M)). Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$1.37B

Revenue Growth YoY+16.9%

Revenue CAGR (3yr)-0.6%

Net Margin1.9%

Free Cash Flow$100.1M

Return on Equity6.4%

Debt / Equity1.17x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.