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NTRANatera, Inc.
$390.90$56.0B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
NTRA logo

Natera, Inc.

NTRA
NASDAQ · Diagnostics & Research
$390.90
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$55.98B
P/E-257.2x
52W High$391.81
Volume1.51M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Accelerating Oncology Growth Offsets Persistent Margin Pressure

Natera's revenue growth is accelerating, driven by oncology volumes exceeding one million tests for a second consecutive quarter in 2026Q2, with revenue up 37.7% YoY to $752.8M. Gross margins have expanded from 56.7% in 2024Q1 to 64.5% in 2026Q2, reflecting sc...

GrowthAccelerating
ProfitabilityStrained
ValuationExpensive
TechnicalsStrong
Explore valuation models
MARKET ACTION

NTRA price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

8/12 Beats

EPS beat 8 of last 12 quarters

02

Valuation risk

-803% Peers

P/E is 803% below peer median

03

Market leadership

RS 95 · Leader

High momentum (Outperforming 95% of market)

04

Strong Uptrend

Strong Trend

Price > 20DMA > 50DMA > 200DMA

Next CatalystEstimated earnings · Nov 6
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth accelerated to 37.7% YoY in 2026Q2, reaching $752.8M, while gross margin improved to 64.5% from 56.7% in 2024Q1, but operating margin remained negative at -10.1% due to rising R&D and SG&A costs.

Analyst Consensus-14.3% target
Buy(28 analysts)
25 Buy3 Hold0 Sell

The Bull Case

Upside Catalysts

Strong revenue guidance

Natera issued 2026 revenue guidance of US$2.62 billion to US$2.70 billion, indicating strong growth expectations.

Signatera clinical data

New clinical data on Signatera test presented at ASCO Genitourinary Cancers Symposium highlights its potential in muscle-invasive bladder cancer.

Oncology franchise growth

NTRA's oncology franchise, particularly Signatera MRD testing, is a key growth driver supported by increasing testing volumes.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
NTRA+70.82%
S&P 500 (^GSPC)+13.20%
1-Year Return
NTRA+118.15%
S&P 500 (^GSPC)+15.98%
3-Year Return
NTRA+753.12%
S&P 500 (^GSPC)+106.13%
5-Year Return
NTRA+211.03%
S&P 500 (^GSPC)+84.11%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-257.2x
Forward P/E
N/A
EV/EBITDA
N/A
FCF YieldCash Flow
0.2%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-257.2x
N/A
N/A
EV/EBITDA
N/A
N/A
N/A
Price/FCF
513.1x
287.1x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$7.66-98.0%
Base (Fair)$246.22-33.3%
Bull$8.61-97.8%
$7.66 Bear$246.22 Base$8.61 Bull
Current Market Price: $390.90
Trades at a 58.8% premium to Base DCF ($246.22)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$2.31B+35.9% YoY
Net income
-$208M-9.3% YoY
Free cash flow
$109M+57.6% YoY
Operating margin
-13.4%-0.3 pts YoY
ROIC (TTM)-36.1%
Avg ROIC 5Y-
ROE (TTM)-14.3%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate8/12 (67%)
Revenue Beat Rate12/12 (100%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
-$0.47+4.8%
vs -$0.49
$753M+13.8%
vs $661M
Q2 2026
May 7, 2026
-$0.56-3.3%
vs -$0.54
$697M+12.9%
vs $617M
Q1 2026
Feb 26, 2026
$0.35+168.3%
vs -$0.51
$666M+10.2%
vs $604M
Q4 2025
Nov 6, 2025
-$0.64-65.9%
vs -$0.39
$592M+15.3%
vs $513M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
InvestorPlace·1d ago
3 Analysts, 3 Trades to Make Today

Louis says buy the AI dip

Benzinga·1d ago
Uber, Micron, Datadog And A Health Care Stock: CNBC's ‘Final Trades'

On CNBC's “Halftime Report Final Trades,” Bryn Talkington, managing partner of Requisite Capital Management, picked Uber Technologies, Inc. (NYSE:UBER).

Seeking Alpha·2d ago
Natera, Inc. (NTRA) Presents at 2026 Global Healthcare Conference Transcript

Natera, Inc. (NTRA) Presents at 2026 Global Healthcare Conference Transcript

Seeking Alpha·3d ago
Natera, Inc. (NTRA) Presents at Morgan Stanley 24th Annual Global Healthcare Conference Transcript

Natera, Inc. (NTRA) Presents at Morgan Stanley 24th Annual Global Healthcare Conference Transcript

Filtered for Natera, Inc.More Headlines
04

Compare before deciding

Benchmark NTRA against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Natera, Inc. (NTRA)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
NTRA logoNTRANatera, Inc.Current
$390.90$55.98B-257.1735.9%-9.03%-14.32%—
EXAS logoEXASExact Sciences Corporation
$104.91$20.02B-95.3717.69%-6.4%-8.66%—
ILMN logoILMNIllumina, Inc.
$247.46$37.44B45.41-0.78%18.36%31.08%—
CGEN logoCGENCompugen Ltd.
$2.49$235.44M6.55161.14%47.55%42.57%—
MYRG logoMYRGMYR Group Inc.
$289.05$4.5B38.398.79%4.13%24.17%—
PACB logoPACBPacific Biosciences of California, Inc.
$1.47$456.58M-0.813.89%-82.49%-4961.74%—

Compare NTRA vs Peers

Natera, Inc. (NTRA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs EXAS

Most directly comparable listed peer for NTRA.

Scale Benchmark

vs TMO

Larger-name benchmark to compare NTRA against a more recognizable public peer.

Peer Set

Compare Top 5

vs EXAS, ILMN, CGEN, MYRG

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

NTRA SEC Filings & Documents

Natera, Inc. (NTRA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 6, 2026·SEC

Material company update

Jul 6, 2026·SEC

Material company update

Jun 16, 2026·SEC

10-K Annual Reports

1
FY 2026

Feb 27, 2026·SEC

10-Q Quarterly Reports

5
FY 2026

Aug 7, 2026·SEC

FY 2026

May 8, 2026·SEC

FY 2025

Nov 7, 2025·SEC

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NTRA Frequently Asked Questions

Natera, Inc. (NTRA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Natera, Inc.'s revenue?

Natera, Inc. (NTRA) reported $2.71B in revenue for fiscal year 2025. This represents a 18897% increase from $14.3M in 2012.

How fast is Natera, Inc. growing?

Natera, Inc. (NTRA) grew revenue by 35.9% over the past year. This is strong growth.

Is NTRA profitable?

Natera, Inc. (NTRA) reported a net loss of $192.3M for fiscal year 2025.

Dividend & Returns
What is NTRA's return on equity?

Natera, Inc. (NTRA) has a return on equity (ROE) of -14.3%. Negative ROE indicates the company is unprofitable.

What is Natera, Inc.'s free cash flow?

Natera, Inc. (NTRA) generated $71.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in NTRA back in 2012?

Total return calculator · dividends reinvested · 14+ years of data

See returns →