Natera NTRA
- Market cap
- $58.2B
- PE
- n/m
- a loss over the last year
- Forward PE
- n/m
- a loss over the last year
- Price to sales
- 21.5×
- EV/EBIT
- n/m
- a loss over the last year
- Revenue, 12 months
- $2.7B
- +38% on a year ago
- Net margin
- −7.1%
- Free cash flow yield
- 0.1%
Natera trades at 21.5× sales. Its trailing earnings are negative, so it has no PE. Revenue was $2.7B over the last twelve months, up 38% on a year earlier with a −7% net margin.
Charts
Financials
| Income statement | Q3 FY23 | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $268.3M+27% | $311.1M+43% | $367.7M+52% | $413.4M+58% | $439.8M+64% | $476.1M+53% | $501.8M+37% | $546.6M+32% | $592.2M+35% | $665.5M+40% | $696.6M+39% | $752.8M+38% | |
| Cost of revenue | $147.3M+26% | $151.2M+19% | $159.1M+7% | $170.2M+19% | $168M+14% | $176.4M+17% | $185.1M+16% | $200M+18% | $207.8M+24% | $220.1M+25% | $245.8M+33% | $267.6M+34% |
| Gross profit | $121M+29% | $159.9M+78% | $208.6M+123% | $243.2M+106% | $271.7M+125% | $299.6M+87% | $316.8M+52% | $346.6M+43% | $384.4M+41% | $445.4M+49% | $450.8M+42% | $485.2M+40% |
| R&D | $77.2M+18% | $83M−6% | $88.6M+8% | $89.1M+14% | $96.9M+26% | $129.5M+56% | $129.1M+46% | $146.4M+64% | $173.4M+79% | $175.2M+35% | $210.7M+63% | $228.1M+56% |
| SG&A | $154.7M+5% | $161.4M+12% | $194.3M+30% | $198M+30% | $214.2M+38% | $234.9M+46% | $266.9M+37% | $310.5M+57% | $308.5M+44% | $291.3M+24% | $327.9M+23% | $327.2M+5% |
| −$111M−7% | −$84.5M−40% | −$74.3M−46% | −$43.9M−61% | −$39.3M−65% | −$64.7M−23% | −$79.2M+7% | −$110.4M+151% | −$97.6M+148% | −$22.8M−65% | −$93.5M+18% | −$75.8M−31% | |
| Interest expense | $3.3M+40% | $3.1M+14% | $3.1M+2% | $3.1M−2% | $3.1M−3% | $1.3M−59% | $1M−68% | $1M−67% | $1M−67% | $991K−23% | $892K−11% | $890K−14% |
| Pre-tax income | −$108.8M−10% | −$77.8M−45% | −$67.2M−51% | −$36.6M−67% | −$30.9M−72% | −$55.1M−29% | −$66.8M−1% | −$100.7M+175% | −$87.3M+183% | −$13.3M−76% | −$84.8M+27% | −$67.2M−33% |
| $202K+9% | $191K−55% | $428K+168% | $892K | $730K+261% | −$1.4M | $173K−60% | $275K−69% | $207K−72% | −$60.6M+4371% | $283K+64% | −$261K | |
| Net income | −$109M−10% | −$78M−45% | −$67.6M−51% | −$37.5M−66% | −$31.6M−71% | −$53.8M−31% | −$66.9M−1% | −$100.9M+169% | −$87.5M+177% | $47.3M | −$85.1M+27% | −$67M−34% |
| −$0.95−24% | −$0.65−53% | −$0.56−55% | −$0.30−69% | −$0.26−73% | −$0.41−37% | −$0.50−11% | −$0.74+147% | −$0.64+146% | $0.34 | −$0.60+20% | −$0.47−37% | |
| 115.2M+19% | 119.3M+14% | 120.8M+8% | 122.9M+8% | 123.8M+8% | 131.4M+10% | 134.8M+12% | 136.4M+11% | 137.2M+11% | 138.3M+5% | 141.5M+5% | 143.3M+5% |
Revenue: Q1 FY14 and Q1 FY15: 6 months less the 3 months printed beside them.
Cost of revenue: Q1 FY14 and Q1 FY15: 6 months less the 3 months printed beside them.
Gross profit: Q1 FY14 and Q1 FY15: 6 months less the 3 months printed beside them. 48 periods, Q2 FY14 to Q2 FY26: not printed by the filing, worked out from its own lines.
R&D: Q1 FY14 and Q1 FY15: 6 months less the 3 months printed beside them.
SG&A: Q1 FY14 and Q1 FY15: 6 months less the 3 months printed beside them.
Operating income: Q1 FY14 and Q1 FY15: 6 months less the 3 months printed beside them.
Interest expense: Q1 FY14 and Q1 FY15: 6 months less the 3 months printed beside them.
Net income: Q1 FY14 and Q1 FY15: 6 months less the 3 months printed beside them.
EPS, diluted: 11 periods, Q1 FY14 to Q4 FY25: quarter's net income to common over its shares, to the cent.
Diluted shares: Q1 FY14: share-days: the 6-month average less the second quarter's. Q4 FY14 and Q4 FY25: share-days: the 12-month average less the 9-month, weighted by days. 10 periods, Q4 FY15 to Q4 FY24: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days.
From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.
Estimates
Next earnings report: .
| Quarter | Revenue | Range | EPS | Range | Analysts |
|---|---|---|---|---|---|
| Q3 FY26 | $707.5M | $701.6M to $712.5M | −$0.28 | −$0.72 to $0.41 | 8 |
| Q4 FY26 | $749.5M | $742.6M to $755.5M | −$0.11 | −$0.65 to $0.25 | 8 |
| Q1 FY27 | $813M | $804.5M to $822.3M | −$0.24 | −$0.24 to −$0.24 | 3 |
| Q2 FY27 | $860M | $850.9M to $869.8M | −$0.20 | −$0.20 to −$0.19 | 4 |
| Q3 FY27 | $878.4M | $869.2M to $888.5M | −$0.13 | −$0.13 to −$0.13 | 3 |
| Q4 FY27 | $928.9M | $919.1M to $939.5M | −$0.03 | −$0.03 to −$0.03 | 4 |
| Q1 FY28 | $945.9M | $936M to $956.8M | $0.34 | $0.34 to $0.35 | 4 |
| Q2 FY28 | $1B | $990.8M to $1B | $0.37 | $0.36 to $0.38 | 5 |
Peers
Companies in Medical - Diagnostics & Research nearest Natera's size, closest first.
| Company | Market cap | PE | Its 10y median PE | Fwd PE | P/S | Revenue growth | Net margin |
|---|---|---|---|---|---|---|---|
| NTRANatera | $58.2B | n/m | n/a | n/m | 21.5× | +38% | −7.1% |
| AAgilent Technologies | $48.8B | 34.0× | 33.1× | 26.4× | 6.6× | +9% | 19.5% |
| IQVIQVIA | $46B | 34.7× | 34.9× | 20.5× | 2.7× | +8% | 8.1% |
| WATWaters | $44.6B | 113× | 29.2× | 29.2× | 9.6× | +52% | 3.6% |
| IDXXIDEXX Laboratories | $44.1B | 39.4× | 55.0× | 35.9× | 9.7× | +13% | 25.0% |
| ILMNIllumina | $40.7B | 50.1× | 51.4× | 47.2× | 9.1× | +5% | 18.4% |
| MTDMettler-Toledo International | $33.5B | 37.6× | 36.5× | 33.9× | 8.1× | +7% | 21.9% |
| DGXQuest Diagnostics | $26.7B | 25.7× | 19.3× | n/m | 2.3× | +9% | 9.2% |
| LHLabcorp | $26.7B | 27.2× | 19.4× | 17.4× | 1.9× | +6% | 7.0% |
| DHRDanaher | $162B | 40.9× | 34.2× | 25.4× | 6.5× | +5% | 15.9% |
| MEDPMedpace | $18.7B | 39.2× | 34.5× | n/m | 6.7× | +25% | 17.7% |
| Peer median | $42.4B | 38.4× | 34.3× | 27.8× | 6.7× | +8% | 16.8% |
Investors who own it
Investors we follow who held Natera at the end of Jun 30, 2026, from their 13F filings.
- Stanley DruckenmillerDuquesne Family Office19.9% of portfolioadded
- Lee AinslieMaverick Capital3.3% of portfolioadded
- Philippe LaffontCoatue Management1.4% of portfoliotrimmed
- Cathie WoodARK Investment Management1.2% of portfolioadded
- Andreas HalvorsenViking Global Investors0.3% of portfolionew
- Gavin BakerAtreides Management0.3% of portfolionew
- Ron BaronBaron Capital0.0% of portfoliotrimmed
- Polen CapitalPolen Capital0.0% of portfolioadded
More on Natera
Each number over time
- PE ratio
- Price to sales ratio
- Price to free cash flow
- Price to book ratio
- Market cap
- Revenue
- EPS
- Free cash flow
- Profit margin
- Shares outstanding
Where it ranks
- #5of 42Diagnostics and research stocks with the fastest revenue growth
- #9of 53Healthcare stocks with the fastest expected revenue growth
- #3of 11Diagnostics and research stocks with the fastest expected revenue growth
Its groups
About
- Industry
- Medical - Diagnostics & Research
- Sector
- Healthcare
Valuation data, not investment advice. Prices as of .