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ADPT vs NTRA vs EXAS
Revenue, margins, valuation, and 5-year total return — side by side.
Medical - Diagnostics & Research
Medical - Diagnostics & Research
ADPT vs NTRA vs EXAS — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | |||
|---|---|---|---|
| Industry | Biotechnology | Medical - Diagnostics & Research | Medical - Diagnostics & Research |
| Market Cap | $2.35B | $31.16B | $20.02B |
| Revenue (TTM) | $295M | $2.31B | $3.25B |
| Net Income (TTM) | $-50M | $-208M | $-208M |
| Gross Margin | 75.3% | 64.8% | 69.7% |
| Operating Margin | -15.8% | -13.4% | -6.4% |
| Forward P/E | — | — | 582.8x |
| Total Debt | $281M | $214M | $2.52B |
| Cash & Equiv. | $70M | $1.08B | $956M |
ADPT vs NTRA vs EXAS — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Adaptive Biotechnol… (ADPT) | 100 | 38.0 | -62.0% |
| Natera, Inc. (NTRA) | 100 | 501.3 | +401.3% |
| Exact Sciences Corp… (EXAS) | 100 | 120.4 | +20.4% |
Price return only. Dividends and distributions are not included.
Quick Verdict: ADPT vs NTRA vs EXAS
Each card shows where this stock fits in a portfolio — not just who wins on paper.
ADPT is the clearest fit if your priority is growth exposure.
- Rev growth 54.8%, EPS growth 63.9%, 3Y rev CAGR 14.3%
- 54.8% revenue growth vs EXAS's 17.7%
NTRA is the clearest fit if your priority is long-term compounding and sleep-well-at-night.
- 20.9% 10Y total return vs EXAS's 16.7%
- Lower volatility, beta 1.26, Low D/E 12.5%, current ratio 3.39x
- Beta 1.26, current ratio 3.39x
EXAS carries the broadest edge in this set and is the clearest fit for income & stability.
- beta 0.12
- Better valuation composite
- -6.4% margin vs ADPT's -16.8%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 54.8% revenue growth vs EXAS's 17.7% | |
| Value | Better valuation composite | |
| Quality / Margins | -6.4% margin vs ADPT's -16.8% | |
| Stability / Safety | Beta 0.12 vs ADPT's 2.07, lower leverage | |
| Dividends | Tie | None of these 3 stocks pay a meaningful dividend |
| Momentum (1Y) | +96.9% vs NTRA's +37.3% | |
| Efficiency (ROA) | -3.5% ROA vs NTRA's -10.6%, ROIC -3.6% vs -36.1% |
ADPT vs NTRA vs EXAS — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
ADPT vs NTRA vs EXAS — Financial Metrics
Side-by-side numbers across 3 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
EXAS leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
EXAS is the larger business by revenue, generating $3.2B annually — 11.0x ADPT's $295M. EXAS is the more profitable business, keeping -6.4% of every revenue dollar as net income compared to ADPT's -16.8%. On growth, NTRA holds the edge at +39.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | |||
|---|---|---|---|
| RevenueTrailing 12 months | $295M | $2.3B | $3.2B |
| EBITDAEarnings before interest/tax | -$34M | -$310M | -$41M |
| Net IncomeAfter-tax profit | -$50M | -$208M | -$208M |
| Free Cash FlowCash after capex | -$30M | $97M | $357M |
| Gross MarginGross profit ÷ Revenue | +75.3% | +64.8% | +69.7% |
| Operating MarginEBIT ÷ Revenue | -15.8% | -13.4% | -6.4% |
| Net MarginNet income ÷ Revenue | -16.8% | -9.0% | -6.4% |
| FCF MarginFCF ÷ Revenue | -10.0% | +4.2% | +11.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +35.1% | +39.8% | +23.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +35.0% | +185.4% | +90.4% |
Valuation Metrics
EXAS leads this category, winning 3 of 4 comparable metrics.
Valuation Metrics
| Metric | |||
|---|---|---|---|
| Market CapShares × price | $2.4B | $31.2B | $20.0B |
| Enterprise ValueMkt cap + debt − cash | $2.6B | $30.3B | $21.6B |
| Trailing P/EPrice ÷ TTM EPS | -37.67x | -144.62x | -95.37x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — | 582.83x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — |
| EV / EBITDAEnterprise value multiple | — | — | — |
| Price / SalesMarket cap ÷ Revenue | 8.49x | 13.51x | 6.16x |
| Price / BookPrice ÷ Book value/share | 9.91x | 17.55x | 8.24x |
| Price / FCFMarket cap ÷ FCF | — | 285.53x | 56.10x |
Profitability & Efficiency
EXAS leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
EXAS delivers a -8.7% return on equity — every $100 of shareholder capital generates $-9 in annual profit, vs $-24 for ADPT. NTRA carries lower financial leverage with a 0.13x debt-to-equity ratio, signaling a more conservative balance sheet compared to ADPT's 1.25x. On the Piotroski fundamental quality scale (0–9), EXAS scores 7/9 vs NTRA's 5/9, reflecting strong financial health.
| Metric | |||
|---|---|---|---|
| ROE (TTM)Return on equity | -23.9% | -15.3% | -8.7% |
| ROA (TTM)Return on assets | -9.9% | -10.6% | -3.5% |
| ROICReturn on invested capital | -12.6% | -36.1% | -3.6% |
| ROCEReturn on capital employed | -13.2% | -18.3% | -4.0% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 | 7 |
| Debt / EquityFinancial leverage | 1.25x | 0.13x | 1.05x |
| Net DebtTotal debt minus cash | $210M | -$862M | $1.6B |
| Cash & Equiv.Liquid assets | $70M | $1.1B | $956M |
| Total DebtShort + long-term debt | $281M | $214M | $2.5B |
| Interest CoverageEBIT ÷ Interest expense | -6.68x | -25.21x | -5.47x |
Total Returns (Dividends Reinvested)
NTRA leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in NTRA five years ago would be worth $21,587 today (with dividends reinvested), compared to $4,198 for ADPT. Over the past 12 months, EXAS leads with a +96.9% total return vs NTRA's +37.3%. The 3-year compound annual growth rate (CAGR) favors NTRA at 60.6% vs EXAS's 15.2% — a key indicator of consistent wealth creation.
| Metric | |||
|---|---|---|---|
| YTD ReturnYear-to-date | -7.7% | -3.9% | +3.1% |
| 1-Year ReturnPast 12 months | +66.7% | +37.3% | +96.9% |
| 3-Year ReturnCumulative with dividends | +122.6% | +314.0% | +53.0% |
| 5-Year ReturnCumulative with dividends | -58.0% | +115.9% | +0.4% |
| 10-Year ReturnCumulative with dividends | -63.5% | +2089.4% | +1669.1% |
| CAGR (3Y)Annualised 3-year return | +30.6% | +60.6% | +15.2% |
Risk & Volatility
EXAS leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
EXAS is the less volatile stock with a 0.12 beta — it tends to amplify market swings less than ADPT's 2.07 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. EXAS currently trades 99.9% from its 52-week high vs ADPT's 70.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | |||
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.07x | 1.26x | 0.12x |
| 52-Week HighHighest price in past year | $20.76 | $256.36 | $104.98 |
| 52-Week LowLowest price in past year | $8.38 | $131.81 | $38.81 |
| % of 52W HighCurrent price vs 52-week peak | +70.8% | +85.7% | +99.9% |
| RSI (14)Momentum oscillator 0–100 | 52.3 | 57.1 | 76.4 |
| Avg Volume (50D)Average daily shares traded | 2.0M | 1.3M | 4.2M |
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Analyst consensus: ADPT as "Buy", NTRA as "Buy", EXAS as "Buy". Consensus price targets imply 44.7% upside for ADPT (target: $21) vs -1.6% for EXAS (target: $103).
| Metric | |||
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $21.25 | $262.50 | $103.18 |
| # AnalystsCovering analysts | 17 | 27 | 41 |
| Dividend YieldAnnual dividend ÷ price | — | — | — |
| Dividend StreakConsecutive years of raises | — | — | — |
| Dividend / ShareAnnual DPS | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% | +0.1% |
EXAS leads in 4 of 6 categories (Income & Cash Flow, Valuation Metrics). NTRA leads in 1 (Total Returns).
ADPT vs NTRA vs EXAS: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is ADPT or NTRA or EXAS a better buy right now?
For growth investors, Adaptive Biotechnologies Corporation (ADPT) is the stronger pick with 54.
8% revenue growth year-over-year, versus 17. 7% for Exact Sciences Corporation (EXAS). Analysts rate Adaptive Biotechnologies Corporation (ADPT) a "Buy" — based on 17 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — ADPT or NTRA or EXAS?
Over the past 5 years, Natera, Inc.
(NTRA) delivered a total return of +115. 9%, compared to -58. 0% for Adaptive Biotechnologies Corporation (ADPT). Over 10 years, the gap is even starker: NTRA returned +20. 9% versus ADPT's -63. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — ADPT or NTRA or EXAS?
By beta (market sensitivity over 5 years), Exact Sciences Corporation (EXAS) is the lower-risk stock at 0.
12β versus Adaptive Biotechnologies Corporation's 2. 07β — meaning ADPT is approximately 1621% more volatile than EXAS relative to the S&P 500. On balance sheet safety, Natera, Inc. (NTRA) carries a lower debt/equity ratio of 13% versus 125% for Adaptive Biotechnologies Corporation — giving it more financial flexibility in a downturn.
04Which is growing faster — ADPT or NTRA or EXAS?
By revenue growth (latest reported year), Adaptive Biotechnologies Corporation (ADPT) is pulling ahead at 54.
8% versus 17. 7% for Exact Sciences Corporation (EXAS). On earnings-per-share growth, the picture is similar: Exact Sciences Corporation grew EPS 80. 3% year-over-year, compared to 0. 7% for Natera, Inc.. Over a 3-year CAGR, NTRA leads at 41. 1% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — ADPT or NTRA or EXAS?
Exact Sciences Corporation (EXAS) is the more profitable company, earning -6.
4% net margin versus -21. 5% for Adaptive Biotechnologies Corporation — meaning it keeps -6. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: EXAS leads at -6. 4% versus -20. 6% for ADPT. At the gross margin level — before operating expenses — ADPT leads at 74. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is ADPT or NTRA or EXAS more undervalued right now?
Analyst consensus price targets imply the most upside for ADPT: 44.
7% to $21. 25.
07Which pays a better dividend — ADPT or NTRA or EXAS?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is ADPT or NTRA or EXAS better for a retirement portfolio?
For long-horizon retirement investors, Exact Sciences Corporation (EXAS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
12), +1669% 10Y return). Adaptive Biotechnologies Corporation (ADPT) carries a higher beta of 2. 07 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (EXAS: +1669%, ADPT: -63. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between ADPT and NTRA and EXAS?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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