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Stock Comparison

ADPT vs NTRA

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
ADPT
Adaptive Biotechnologies Corporation

Biotechnology

HealthcareNASDAQ • US
Market Cap$2.22B
5Y Perf.-62.7%
NTRA
Natera, Inc.

Medical - Diagnostics & Research

HealthcareNASDAQ • US
Market Cap$29.58B
5Y Perf.+390.5%

ADPT vs NTRA — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
ADPT logoADPT
NTRA logoNTRA
IndustryBiotechnologyMedical - Diagnostics & Research
Market Cap$2.22B$29.58B
Revenue (TTM)$295M$2.12B
Net Income (TTM)$-50M$-309M
Gross Margin75.3%63.7%
Operating Margin-15.8%-16.6%
Total Debt$281M$187M
Cash & Equiv.$70M$946M

ADPT vs NTRALong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

ADPT
NTRA
StockMay 20May 26Return
Adaptive Biotechnol… (ADPT)10037.3-62.7%
Natera, Inc. (NTRA)100490.5+390.5%

Price return only. Dividends and distributions are not included.

Quick Verdict: ADPT vs NTRA

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: NTRA leads in 3 of 6 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Adaptive Biotechnologies Corporation is the stronger pick specifically for recent price momentum and sentiment and operational efficiency and capital deployment. As sector peers, any of these can serve as alternatives in the same allocation.
ADPT
Adaptive Biotechnologies Corporation
The Momentum Pick

ADPT is the clearest fit if your priority is momentum and efficiency.

  • +63.8% vs NTRA's +38.3%
  • -9.9% ROA vs NTRA's -17.0%, ROIC -12.6% vs -33.3%
Best for: momentum and efficiency
NTRA
Natera, Inc.
The Income Pick

NTRA carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.

  • beta 1.26
  • Rev growth 56.7%, EPS growth 59.5%, 3Y rev CAGR 39.5%
  • 21.5% 10Y total return vs ADPT's -64.2%
Best for: income & stability and growth exposure
See the full category breakdown
CategoryWinnerWhy
GrowthNTRA logoNTRA56.7% revenue growth vs ADPT's 54.8%
Quality / MarginsNTRA logoNTRA-14.6% margin vs ADPT's -16.8%
Stability / SafetyNTRA logoNTRABeta 1.26 vs ADPT's 2.07, lower leverage
DividendsTieNeither stock pays a meaningful dividend
Momentum (1Y)ADPT logoADPT+63.8% vs NTRA's +38.3%
Efficiency (ROA)ADPT logoADPT-9.9% ROA vs NTRA's -17.0%, ROIC -12.6% vs -33.3%

ADPT vs NTRA — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

ADPTAdaptive Biotechnologies Corporation
FY 2021
Sequencing Revenue
51.1%$79M
Development Support Revenue
42.4%$65M
Development Revenue Regulatory Milestones
6.5%$10M
NTRANatera, Inc.
FY 2025
Product
99.6%$2.3B
Licensing and other
0.4%$10M

ADPT vs NTRA — Financial Metrics

Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLADPTLAGGINGNTRA

Income & Cash Flow (Last 12 Months)

ADPT leads this category, winning 4 of 6 comparable metrics.

NTRA is the larger business by revenue, generating $2.1B annually — 7.2x ADPT's $295M. Profitability is closely matched — net margins range from -14.6% (NTRA) to -16.8% (ADPT).

MetricADPT logoADPTAdaptive Biotechn…NTRA logoNTRANatera, Inc.
RevenueTrailing 12 months$295M$2.1B
EBITDAEarnings before interest/tax-$34M-$315M
Net IncomeAfter-tax profit-$50M-$309M
Free Cash FlowCash after capex-$30M$94M
Gross MarginGross profit ÷ Revenue+75.3%+63.7%
Operating MarginEBIT ÷ Revenue-15.8%-16.6%
Net MarginNet income ÷ Revenue-16.8%-14.6%
FCF MarginFCF ÷ Revenue-10.0%+4.4%
Rev. Growth (YoY)Latest quarter vs prior year+35.1%+34.7%
EPS Growth (YoY)Latest quarter vs prior year+35.0%-146.2%
ADPT leads this category, winning 4 of 6 comparable metrics.

Valuation Metrics

ADPT leads this category, winning 2 of 3 comparable metrics.
MetricADPT logoADPTAdaptive Biotechn…NTRA logoNTRANatera, Inc.
Market CapShares × price$2.2B$29.6B
Enterprise ValueMkt cap + debt − cash$2.4B$28.8B
Trailing P/EPrice ÷ TTM EPS-37.00x-140.58x
Forward P/EPrice ÷ next-FY EPS est.
PEG RatioP/E ÷ EPS growth rate
EV / EBITDAEnterprise value multiple
Price / SalesMarket cap ÷ Revenue8.02x17.43x
Price / BookPrice ÷ Book value/share9.73x22.44x
Price / FCFMarket cap ÷ FCF427.23x
ADPT leads this category, winning 2 of 3 comparable metrics.

Profitability & Efficiency

ADPT leads this category, winning 5 of 9 comparable metrics.

ADPT delivers a -23.9% return on equity — every $100 of shareholder capital generates $-24 in annual profit, vs $-25 for NTRA. NTRA carries lower financial leverage with a 0.16x debt-to-equity ratio, signaling a more conservative balance sheet compared to ADPT's 1.25x. On the Piotroski fundamental quality scale (0–9), NTRA scores 6/9 vs ADPT's 5/9, reflecting solid financial health.

MetricADPT logoADPTAdaptive Biotechn…NTRA logoNTRANatera, Inc.
ROE (TTM)Return on equity-23.9%-24.7%
ROA (TTM)Return on assets-9.9%-17.0%
ROICReturn on invested capital-12.6%-33.3%
ROCEReturn on capital employed-13.2%-18.1%
Piotroski ScoreFundamental quality 0–956
Debt / EquityFinancial leverage1.25x0.16x
Net DebtTotal debt minus cash$210M-$758M
Cash & Equiv.Liquid assets$70M$946M
Total DebtShort + long-term debt$281M$187M
Interest CoverageEBIT ÷ Interest expense-3.47x-69.90x
ADPT leads this category, winning 5 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

NTRA leads this category, winning 5 of 6 comparable metrics.

A $10,000 investment in NTRA five years ago would be worth $22,333 today (with dividends reinvested), compared to $3,943 for ADPT. Over the past 12 months, ADPT leads with a +63.8% total return vs NTRA's +38.3%. The 3-year compound annual growth rate (CAGR) favors NTRA at 59.4% vs ADPT's 29.8% — a key indicator of consistent wealth creation.

MetricADPT logoADPTAdaptive Biotechn…NTRA logoNTRANatera, Inc.
YTD ReturnYear-to-date-9.3%-6.0%
1-Year ReturnPast 12 months+63.8%+38.3%
3-Year ReturnCumulative with dividends+118.6%+305.1%
5-Year ReturnCumulative with dividends-60.6%+123.3%
10-Year ReturnCumulative with dividends-64.2%+2147.5%
CAGR (3Y)Annualised 3-year return+29.8%+59.4%
NTRA leads this category, winning 5 of 6 comparable metrics.

Risk & Volatility

NTRA leads this category, winning 2 of 2 comparable metrics.

NTRA is the less volatile stock with a 1.26 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. NTRA currently trades 83.9% from its 52-week high vs ADPT's 69.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricADPT logoADPTAdaptive Biotechn…NTRA logoNTRANatera, Inc.
Beta (5Y)Sensitivity to S&P 5002.07x1.26x
52-Week HighHighest price in past year$20.76$256.36
52-Week LowLowest price in past year$8.38$131.81
% of 52W HighCurrent price vs 52-week peak+69.5%+83.9%
RSI (14)Momentum oscillator 0–10046.751.9
Avg Volume (50D)Average daily shares traded2.0M1.3M
NTRA leads this category, winning 2 of 2 comparable metrics.

Analyst Outlook

Insufficient data to determine a leader in this category.

Wall Street rates ADPT as "Buy" and NTRA as "Buy". Consensus price targets imply 47.3% upside for ADPT (target: $21) vs 22.0% for NTRA (target: $263).

MetricADPT logoADPTAdaptive Biotechn…NTRA logoNTRANatera, Inc.
Analyst RatingConsensus buy/hold/sellBuyBuy
Price TargetConsensus 12-month target$21.25$262.50
# AnalystsCovering analysts1727
Dividend YieldAnnual dividend ÷ price
Dividend StreakConsecutive years of raises
Dividend / ShareAnnual DPS
Buyback YieldShare repurchases ÷ mkt cap0.0%0.0%
Insufficient data to determine a leader in this category.
Key Takeaway

ADPT leads in 3 of 6 categories (Income & Cash Flow, Valuation Metrics). NTRA leads in 2 (Total Returns, Risk & Volatility).

Best OverallAdaptive Biotechnologies Co… (ADPT)Leads 3 of 6 categories
Loading custom metrics...

ADPT vs NTRA: Frequently Asked Questions

8 questions · data-driven answers · updated daily

01

Is ADPT or NTRA a better buy right now?

For growth investors, Natera, Inc.

(NTRA) is the stronger pick with 56. 7% revenue growth year-over-year, versus 54. 8% for Adaptive Biotechnologies Corporation (ADPT). 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.

02

Which is the better long-term investment — ADPT or NTRA?

Over the past 5 years, Natera, Inc.

(NTRA) delivered a total return of +123. 3%, compared to -60. 6% for Adaptive Biotechnologies Corporation (ADPT). Over 10 years, the gap is even starker: NTRA returned +21. 5% versus ADPT's -64. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

03

Which is safer — ADPT or NTRA?

By beta (market sensitivity over 5 years), Natera, Inc.

(NTRA) is the lower-risk stock at 1. 26β versus Adaptive Biotechnologies Corporation's 2. 07β — meaning ADPT is approximately 65% more volatile than NTRA relative to the S&P 500. On balance sheet safety, Natera, Inc. (NTRA) carries a lower debt/equity ratio of 16% versus 125% for Adaptive Biotechnologies Corporation — giving it more financial flexibility in a downturn.

04

Which is growing faster — ADPT or NTRA?

By revenue growth (latest reported year), Natera, Inc.

(NTRA) is pulling ahead at 56. 7% versus 54. 8% for Adaptive Biotechnologies Corporation (ADPT). On earnings-per-share growth, the picture is similar: Adaptive Biotechnologies Corporation grew EPS 63. 9% year-over-year, compared to 59. 5% for Natera, Inc.. Over a 3-year CAGR, NTRA leads at 39. 5% 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.

05

Which has better profit margins — ADPT or NTRA?

Natera, Inc.

(NTRA) is the more profitable company, earning -11. 2% net margin versus -21. 5% for Adaptive Biotechnologies Corporation — meaning it keeps -11. 2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NTRA leads at -13. 1% 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.

06

Which pays a better dividend — ADPT or NTRA?

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.

07

Is ADPT or NTRA better for a retirement portfolio?

For long-horizon retirement investors, Natera, Inc.

(NTRA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1. 26)). 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 (NTRA: +21. 5%, ADPT: -64. 2%), 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.

08

What are the main differences between ADPT and NTRA?

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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ADPT

High-Growth Disruptor

  • Sector: Healthcare
  • Market Cap > $100B
  • Revenue Growth > 17%
  • Gross Margin > 45%
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NTRA

High-Growth Disruptor

  • Sector: Healthcare
  • Market Cap > $100B
  • Revenue Growth > 17%
  • Gross Margin > 38%
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