Natera, Inc.

US$310.67As of Sun 8 Nov 2026, 12:00 UTC

NASDAQ:NTRAHealthcare

Country USA

PE (Fwd) •••

TSR 10Y CAGR 43.24%

Div yield —

ROE (10.55%)

Diagnostics & Research

Beta (5Y) 1.52

PE TTM —

TSR TTM 56.17%

Mkt cap US$45.05B

ROIC (8.72%)

SE Grade™

Value

Quality

Moat

Consensus

Reference

$379

22.11%

(31.44%)

Hold 1|5|2|0|10

TTM

FYE 31 Dec USD

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

12.25

Revenue$B

13.15

12.86

13.13

13.42

13.65

13.95

13.85

13.96

14.10

14.43

13.19

1.12%

0.99%

12.49

Revenue growth%

22.18

24.72

23.75

24.78

21.92

23.43

21.18

18.78

21.62

19.18

27.93

21.18

22.05

21.05

Gross margin%

34.98

34.96

33.04

34.01

35.42

35.75

36.84

38.42

39.20

38.19

3.74

38.19

35.59

18.29

Operating margin%

9.53

12.34

15.10

15.40

16.57

17.49

16.38

15.03

16.74

18.07

18.65

16.74

15.89

2.90

Net margin%

36.71

36.48

37.42

35.27

33.90

36.70

34.01

35.38

33.07

32.29

5.80

34.01

35.32

21.65

P/E ratio (avg)x

28.09

26.87

26.67

24.44

26.79

24.75

26.76

26.92

24.48

23.29

8.659

24.75

26.71

7.776

EV/EBITx

20.76

23.13

22.24

26.12

30.87

35.69

39.24

37.86

43.29

51.16

11.54

39.24

33.28

8.93

FCF yield (avg)%

21.29

19.80

21.53

22.31

19.45

18.04

19.60

17.21

17.14

19.64

9.80

18.04

19.62

24.67

FCF margin%

18.88

20.33

20.85

22.79

22.26

23.98

22.41

23.67

25.82

23.98

2.16

23.98

22.60

0.451

FCF / Net incomex

0.966

0.884

1.016

1.143

1.290

1.381

1.387

1.576

1.660

1.617

1.673

1.576

1.335

22.28

ROIC%

20.36

17.98

15.74

14.83

17.17

17.20

15.80

16.58

15.84

14.52

25.14

15.84

16.21

29.06

Return on equity%

8.16

6.72

5.37

5.41

3.19

3.66

2.73

4.39

1.47

0.73

3.82

2.73

4.03

3.79

Return on assets%

29.45

28.20

30.70

31.00

30.13

27.96

25.39

23.33

24.93

24.73

18.74

24.93

28.08

30.34

EPS$

27.83

29.75

32.05

37.67

44.93

44.11

46.79

56.21

62.46

71.92

32.31

9.86%

11.10%

—

15.49

EPS growth%

13.65

14.36

13.31

13.50

13.96

15.88

13.90

15.29

15.26

17.34

2.68

15.29

14.16

30.84

Bookvalue per sh$

25.18

22.31

21.73

20.31

20.98

23.51

25.18

22.33

20.56

21.16

21.02

0.17%

(1.94%)

—

38.46

FCF per share$

66.72

74.97

85.83

84.25

92.90

104.26

121.48

140.32

161.03

173.99

16.75

13.37%

11.51%

—

32.22

Dividend per sh$

104.58

106.32

119.33

126.44

125.53

144.27

148.69

174.26

193.27

199.18

48.91

9.67%

8.61%

—

21.36

Div yield (avg)%

7.38

6.35

3.97

1.44

0.77

2.29

1.79

4.31

2.49

5.40

29.16

2.49

3.23

4.59

Payout ratio%

8.05

6.53

8.73

8.44

7.49

9.79

7.68

6.81

6.28

4.69

11.13

6.81

7.59

140.9

Shares (diluted)M

167.7

184.6

166.9

169.6

190.4

197.1

186.5

209.1

210.7

227.1

149.0

3.59%

4.00%

11.42

Buyback yield%

13.39

12.92

10.69

8.37

10.35

11.24

13.96

13.03

12.18

14.28

25.38

13.03

12.55

1.114

D/E ratiox

0.932

0.977

0.999

0.967

1.050

1.162

1.139

1.185

1.231

0.526

1.162

1.024

6.733

Enterprise value$B

17.02

16.64

17.66

19.19

22.79

26.71

31.12

29.96

33.08

35.30

10.54

9.15%

7.30%

11.33

LT debt$B

2.619

2.377

2.532

2.410

2.748

2.739

2.872

3.142

3.346

3.521

13.28

5.08%

3.79%

Peers (US$45.05B)

Cap (US$)

Agilent Technologies…

49.27B

34.46x

Waters Corporation

44.96B

395.6x

IQVIA Holdings Inc.

44.80B

32.93x

IDEXX Laboratories…

53.26B

45.58x

Capital

TTM

10Y

Leveragex

0.571

0.011

EBIT/Intx

0.501

0.235

0.194

Own earn%

27.14

141.35

108.84

Sh yield%

32.78

15.74

15.20

Owners

Insiders/Inst%

8.80

36.69

Short interest%

0.85

SBC / revenue%

1.04

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

10–18

$1 testx

—

Incr. ROIC%

Natera, Inc., a diagnostics company, engages in the development and commercialization of molecular testing services worldwide.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

$14.43B

0.99%

1.00×

Cost of revenue

$10.10B

0.99%

1.00×

Operating expenses

$2.904B

1.34%

1.04×