YouTube · Q2 FY2026 · 2026-05-27
NTRA · NasdaqGS
Natera, Inc.
Diagnostics & Research · United States
- Market cap (USD)
- US$59.51B
- Trailing P/E
- —
- Forward P/E
- —
- Quarterly revenue growth
- 37.7%
- Trailing net margin
- -7.1%
- Indicated dividend yield
- —
Snapshot 2026-09-28 · Latest financial period 2026-06-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2026-11-05 (provider estimate, not issuer-confirmed).
Company background
Natera, Inc., a diagnostics company, engages in the development and commercialization of molecular testing services worldwide. It offers Signatera, a personalized ctDNA blood test for MRD assessment, early recurrence monitoring, and evaluation of treatment response in patients previously diagnosed with cancer; Latitude, a blood-based MRD test for colorectal cancer; Altera, a tissue based comprehensive genomic profiling test; and Empower, a hereditary cancer screening test. The company also provides Panorama, a non-invasive prenatal test; Horizon, a carrier screening test; Fetal Focus, a single-gene NIPT, or sgNIPT, that screens for 21 single-gene inherited conditions; and Vistara, a single-gene NIPT, which screens for 25 single-gene conditions. In addition, it offers Anora, which tests and analyzes miscarriage tissue from women who have experienced one or more pregnancy losses; Empower, a hereditary cancer screening test; Prospera, a test to assess active rejection in patients who have undergone solid organ transplantation; Renasight, a kidney gene panel test; and Constellation software, a cloud-based distribution model. Further, the company provides NateraCore, a platform to support the patient and provider experience; phlebotomy services; and EMR integration services. The company serves independent laboratories, national and regional reference laboratories, medical centers and physician practices for its screening tests, research laboratories, and pharmaceutical companies through its direct sales force and laboratory distribution partners, as well as Constellation licensees under its cloud-based distribution model. It has a partnership agreement with BGI Genomics Co., Ltd. to develop, manufacture, and commercialize NGS-based genetic testing assays for clinical and commercial use. The company has a collaboration with Diakonos Oncology Corp. to assess molecular response in patients with refractory melanoma. The company was formerly known as Gene Security Network, LLC and changed its name to Natera, Inc. in January 2012. Natera, Inc. was founded in 2003 and is headquartered in Austin, Texas.
Company websiteQ2 2026
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Comparable businesses
NTRA peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | NTRANatera, Inc.Snapshot 2026-09-28Financial period: 2026-06-30 | AAgilent Technologies, Inc.Snapshot 2026-09-28Financial period: 2026-07-31 | ILMNIllumina, Inc.Snapshot 2026-09-28Financial period: 2026-06-28 | Peer medianSimilar-size peers only |
|---|---|---|---|---|
| Market capMarket value, converted to USD | US$59.51B | US$49.02B | US$40.92B | US$44.97Bn=2 |
| Forward P/EProvider forward earnings estimate | — | 25.73x | 44.39x | 35.06xn=2 |
| EV / EBITDAEnterprise value / trailing EBITDA | — | 24.57x | 36.48x | 30.52xn=2 |
| Revenue growthLatest quarter vs prior-year quarter | 37.7% | 8.1% | 9.4% | 8.8%n=2 |
| Operating marginLatest reported quarter | -10.3% | 25.6% | 21.1% | 23.3%n=2 |
| Free cash flow yieldTrailing cash flow / market cap | 0.2% | 2.2% | 1.9% | 2.1%n=2 |
| Net debt / EBITDANet debt / trailing EBITDA | — | 1.15x | 1.18x | 1.16xn=2 |
| Debt / equityTotal debt / positive book equity | 0.13x | 0.56x | 0.89x | 0.73xn=2 |
| Trailing P/ETrailing twelve-month earnings | — | 34.36x | 50.47x | 42.41xn=2 |
| Price / bookPrice / positive book equity per share | 32.55x | 6.66x | 14.42x | 10.54xn=2 |
| EV / salesEnterprise value / trailing revenue | 21.65x | 6.93x | 9.37x | 8.15xn=2 |
| Earnings growthLatest quarter vs prior-year quarter | — | 8.5% | -9.4% | -0.5%n=2 |
| Gross marginTrailing twelve months | 65.2% | 53.6% | 67.9% | 60.8%n=2 |
| Net marginTrailing twelve months | -7.1% | 19.5% | 18.3% | 18.9%n=2 |
| Return on equityProvider trailing return; positive equity only | -12.5% | 21.0% | 32.3% | 26.7%n=2 |
| Free cash flow marginTrailing free cash flow / revenue | 3.8% | 14.4% | 17.7% | 16.1%n=2 |
| Dividend yieldIndicated annual dividend / price | — | 0.6% | — | — |
| Earnings payoutProvider trailing dividend payout | 0.0% | 20.0% | 0.0% | 10.0%n=2 |
| Current ratioCurrent assets / current liabilities | 3.00x | 2.05x | 1.80x | 1.92xn=2 |
| BetaProvider historical market sensitivity | 1.53 | 1.24 | 1.47 | 1.35n=2 |
YouTube · Q2 FY2026 · 2026-05-27
YouTube · Q2 2026 · 2026-07-31
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
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Financial data & calculation notes
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Starting assumptions, when available, use provider forward estimates as of 2026-09-28. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for NTRA
Q2 20262026-08-07
Natera (NTRA): A 13.6% Revenue Beat - And That Is The Base Rate
Presentation · 2026-08-07 · YouTube
Short takes Q2 2026
Natera's 13.6% Beat IS Its Median | NTRA Q2 2026 #shorts
Watch Short on YouTube