Saturday 17 October 2026
Export NTRA’s income statement to Excel — free account
Natera, Inc.
NTRA Healthcare Diagnostics & Research
Natera, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.3 billion, up 35.9% from fiscal 2024. In the quarter to June 2026, revenue grew 37.7%, EPS grew 36.5%, free cash flow fell 174.0% and total debt was flat, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
391.98
12.81
−3.16%
Follow NTRA
| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Piotroski F-Score |
2 | 2 | 6 | 5 | 3 | 5 | 4 | 6 | 6 | 6 |
P/S ratio |
2.89 | 2.41 | 3.13 | 7.75 | 20.62 | 13.52 | 4.62 | 6.58 | 11.63 | 13.58 |
Altman Z-Score |
1.05 | (2.08) | (0.83) | 3.51 | 9.96 | 7.23 | 1.58 | 4.60 | 24.62 | 26.84 |
P/FCF ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 285.13 | 287.05 |
Altman Z″-Score (non-manufacturers) |
(5.08) | (8.58) | (6.62) | (0.43) | 1.01 | (0.41) | (1.83) | (1.94) | 0.83 | 0.87 |
Beneish M-Score |
(1.24) | (1.48) | (3.26) | (1.43) | (2.57) | (2.20) | (2.01) | (2.99) | (2.88) | (2.17) |
P/Operating CF |
(20.69) | (17.95) | (63.03) | (155.66) | (109.99) | (85.65) | (46.69) | (123.61) | 373.30 | 423.90 |
P/B ratio |
5.76 | 19.86 | 25.11 | 8.41 | 16.58 | 12.95 | 5.37 | 9.30 | 16.52 | 18.29 |
Price to Tangible BV |
5.76 | 19.86 | 25.11 | 8.41 | 16.58 | 12.95 | 5.37 | 9.30 | 16.67 | 26.15 |
EV/Sales |
2.53 | 2.43 | 3.00 | 6.70 | 19.38 | 12.59 | 3.96 | 6.10 | 11.28 | 13.27 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
(7.25) | (5.20) | (10.95) | (31.93) | (41.52) | (23.49) | (7.53) | (26.75) | 141.09 | 142.18 |
EV/FCF |
(5.52) | (4.73) | (10.38) | (29.62) | (37.49) | (20.92) | (6.78) | (23.08) | 276.45 | 280.55 |
Quick Ratio |
1.67 | 1.54 | 1.94 | 2.75 | 4.10 | 4.73 | 3.68 | 3.77 | 3.73 | 3.11 |
Current Ratio |
1.81 | 1.71 | 2.11 | 2.91 | 4.33 | 4.99 | 3.90 | 4.10 | 4.00 | 3.39 |
Net Debt/EBITDA |
1.04 | (0.03) | 0.33 | 2.96 | 2.40 | 1.30 | 1.04 | 1.23 | 4.65 | 3.74 |
Debt/Assets |
23.55% | 57.39% | 46.06% | 21.24% | 27.09% | 26.72% | 25.96% | 25.20% | 4.84% | 3.35% |
Debt/Equity |
0.47 | 4.85 | 3.84 | 0.44 | 0.52 | 0.51 | 0.51 | 0.47 | 0.07 | 0.05 |
Asset Turnover |
0.89 | 0.99 | 1.07 | 0.71 | 0.52 | 0.58 | 0.62 | 0.76 | 1.09 | 1.14 |
Operating CF/Net income |
0.74 | 0.71 | 0.55 | 0.51 | 0.79 | 0.71 | 0.79 | 0.57 | (0.71) | (1.03) |
Capex/Depreciation |
(3.04) | (1.21) | (0.48) | (0.54) | (1.35) | (2.02) | (2.09) | (1.48) | (2.45) | (3.20) |
Interest Coverage |
(189.59) | (32.12) | (10.94) | (10.88) | (14.34) | (56.37) | (58.06) | (35.31) | (20.80) | (76.16) |
| (68.90%) | (208.70%) | (445.14%) | (80.31%) | (60.07%) | (82.79%) | (80.62%) | (59.11%) | (19.42%) | (14.32%) | |
| (42.16%) | (64.72%) | (53.09%) | (29.34%) | (30.33%) | (43.50%) | (41.64%) | (30.66%) | (12.28%) | (10.26%) | |
ROIC |
(710.26%) | (285.12%) | 0.00% | 0.00% | (10,224.90%) | (422.60%) | (199.67%) | (111.70%) | (45.18%) | (27.03%) |
Return on Tangible Assets |
(91.22%) | (131.41%) | (84.94%) | (34.05%) | (32.96%) | (50.20%) | (55.12%) | (40.92%) | (15.95%) | (16.05%) |
Average Days of Receivables |
23.01 | 76.77 | 88.15 | 64.41 | 73.34 | 71.24 | 108.75 | 93.83 | 67.58 | 46.93 |
Research and Development Expense of Revenue |
19.70% | 23.88% | 19.93% | 16.99% | 25.58% | 42.24% | 38.58% | 29.62% | 23.82% | 27.06% |
Selling, General and Administrative Expense of Revenue |
64.06% | 74.09% | 60.11% | 68.20% | 77.65% | 81.70% | 71.76% | 57.11% | 49.58% | 51.05% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.21 |
Share Based Compensation of Revenue |
4.99% | 5.44% | 5.51% | 9.47% | 12.83% | 18.42% | 18.58% | 17.72% | 16.17% | 15.37% |
Graham Net Nets |
0.11 | (0.02) | 0.01 | 0.09 | 0.05 | 0.06 | 0.14 | 0.08 | 0.05 | 0.03 |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
(15.56%) | (27.24%) | (15.97%) | (5.37%) | (2.82%) | (5.54%) | (14.47%) | (6.12%) | (0.97%) | (0.67%) |
Free Cash Flow Yield |
(15.85%) | (21.33%) | (9.22%) | (2.92%) | (2.51%) | (4.45%) | (12.65%) | (4.02%) | 0.35% | 0.35% |
Revenue per Share |
4.12 | 3.93 | 4.45 | 4.35 | 4.83 | 6.91 | 8.33 | 9.41 | 13.61 | 16.87 |
Operating CF per Share |
(1.44) | (1.83) | (1.22) | (0.91) | (2.25) | (3.70) | (4.38) | (2.15) | 1.09 | 1.57 |
Capex per Share |
(0.45) | (0.19) | (0.07) | (0.07) | (0.24) | (0.45) | (0.48) | (0.34) | (0.62) | (1.02) |
Free Cash Flow per Share |
(1.88) | (2.02) | (1.29) | (0.98) | (2.49) | (4.15) | (4.87) | (2.49) | 0.47 | 0.56 |
Cash per Share |
2.85 | 2.23 | 2.74 | 6.34 | 9.10 | 10.10 | 9.13 | 7.64 | 7.76 | 7.87 |
Shareholders Equity per Share |
2.06 | 0.48 | 0.56 | 4.01 | 6.00 | 7.21 | 7.17 | 6.66 | 9.59 | 12.52 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
2.06 | 0.48 | 0.56 | 4.01 | 6.00 | 7.21 | 7.17 | 6.66 | 9.59 | 12.52 |
Free Cash Flow |
(97.19) | (107.69) | (74.46) | (68.41) | (202.12) | (376.27) | (479.20) | (286.15) | 58.75 | 76.11 |
Working Capital |
77.70 | 75.06 | 126.54 | 343.29 | 663.61 | 874.18 | 901.32 | 951.28 | 1,031.78 | 1,055.71 |
Capital Expenditures |
(23.14) | (9.87) | (3.88) | (4.97) | (19.60) | (41.03) | (47.70) | (39.20) | (76.92) | (139.19) |
Net Current Asset Value |
69.91 | (8.57) | 4.51 | 219.22 | 416.75 | 509.96 | 523.09 | 582.18 | 910.51 | 811.01 |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.11 | 0.05 | 0.02 | 0.02 | 0.05 | 0.07 | 0.06 | 0.04 | 0.05 | 0.06 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.24 | 0.27 | 0.33 | 0.39 | 0.44 | 0.31 | 0.25 | 0.24 | 0.19 | 0.18 |
Cash ROIC |
(32.04%) | (40.26%) | (23.70%) | (8.11%) | (13.69%) | (19.82%) | (24.37%) | (14.25%) | 2.62% | 2.65% |
Accounts Receivable Turnover |
22.07 | 7.29 | 4.85 | 5.23 | 5.93 | 6.23 | 4.48 | 4.14 | 5.73 | 7.55 |
Accounts Payable Turnover |
14.41 | 13.95 | 14.37 | 15.13 | 24.39 | 18.04 | 15.64 | 25.56 | 26.99 | 23.88 |
Inventory Turnover |
18.69 | 18.12 | 14.68 | 13.48 | 12.56 | 13.57 | 14.64 | 15.49 | 15.76 | 14.36 |
Average Days of Payables |
30.90 | 22.30 | 32.06 | 17.90 | 14.51 | 31.19 | 24.92 | 9.28 | 18.92 | 14.89 |
Days of Inventory on Hand |
17.27 | 23.53 | 29.97 | 25.78 | 35.91 | 30.85 | 28.32 | 25.22 | 24.24 | 30.73 |
Average Receivables |
9.63 | 28.74 | 53.16 | 57.79 | 65.96 | 100.32 | 183.23 | 261.34 | 296.23 | 305.35 |
Average Payables |
9.41 | 10.00 | 11.56 | 11.60 | 8.35 | 17.65 | 29.18 | 23.07 | 24.96 | 34.04 |
Average Inventory |
7.25 | 7.71 | 11.32 | 13.01 | 16.21 | 23.47 | 31.16 | 38.08 | 42.75 | 56.59 |
Average Assets |
237.96 | 212.65 | 241.39 | 425.41 | 757.40 | 1,084.32 | 1,315.48 | 1,418.09 | 1,551.22 | 2,029.54 |
Average Common Equity |
145.62 | 65.95 | 28.79 | 155.44 | 382.47 | 569.77 | 679.52 | 735.54 | 980.37 | 1,453.92 |
Columns are period end dates