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.

Revenue
+34.1%
EPS
+34.4%
Free cash flow
−85.8%
Total debt
−0.06%

Quarter to September 2026, against a year earlier

308.48 55.28 −15.20%
Market cap
$52.4B
P/E
0.0×
Fwd P/E
−289×
Dividend yield
—
F-score
6/9
Altman Z
26.84
Beneish M
−2.17
Dividend safety
n/a

Natera, Inc. (NTRA) Operating margin

Alert me on Operating margin

Natera, Inc.'s operating margin over the twelve months to 30 September 2026 was −8.95%, up 4.5 percentage points from fiscal 2025 (−13.4%). Over the past ten years it has ranged from −74.9% (fiscal 2021) to −13.1% (fiscal 2024); the current reading is higher than 91% of that period. That is below the Diagnostics & Research industry median of −5.68% and below the Healthcare sector median of 0.00%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 −13.4% (0.34)
FY2024 −13.1% 28.12
FY2023 −41.2% 24.74
FY2022 −66.0% 8.89
FY2021 −74.9% (19.54)
FY2020 −55.3% (16.85)
FY2019 −38.5% 6.03
FY2018 −44.5% 20.07
FY2017 −64.6% (17.01)
FY2016 −47.6% (16.12)

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 −8.60% 1.47
Jun 2026 −10.1% 3.35
Mar 2026 −13.4% (10.00)
Dec 2025 −3.42% 13.06
43 more quarters

Against its own ten years

Low −74.9% High −13.1%
Ten-year median −44.5%
Current reading's percentile 100

Operating margin against peers

Company Operating margin
IDXX IDEXX Laboratories, Inc. compare 32.3%
MTD Mettler-Toledo International, Inc. compare 28.4%
A Agilent Technologies, Inc. compare 22.2%
ILMN Illumina, Inc. compare 21.2%
DGX Quest Diagnostics Incorporated compare 14.6%
IQV IQVIA Holdings Inc. compare 12.8%
LH Labcorp Holdings Inc. compare 10.3%
WAT Waters Corporation compare 4.73%
NTRA Natera, Inc. −8.95%
Diagnostics & Research industry median −5.68%
Healthcare sector median 0.00%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

More on NTRA