Natera, Inc. (NTRA) Financial Ratios
13 years of historical data (2012–2024) · Healthcare · Medical - Diagnostics & Research
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
427.23
↑+50% vs avg
5yr avg: 285.13
P/B Ratio
↓
22.44
↑+84% vs avg
5yr avg: 12.21
30Y Low2.8·High25.1
ROE
↑
-19.4%
↓+68% vs avg
5yr avg: -60.4%
30Y Low-445%·High-19%
Debt/EBITDA
N/A
—
5yr avg: N/A
30Y Low4.6·High4.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NTRA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Natera, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 427.2x P/FCF, 50% above the 5-year average of 285.1x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $29.6B | $19.7B | $7.2B | $4.0B | $8.5B | $8.1B | $2.3B | $808M | $482M | $604M | $515M |
| Enterprise Value | $28.8B | $19.0B | $7.0B | $3.9B | $8.8B | $8.3B | $2.4B | $885M | $592M | $638M | $528M |
| P/E Ratio → | -140.58 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 17.43 | 11.63 | 6.65 | 4.82 | 13.52 | 20.62 | 7.75 | 3.13 | 2.28 | 2.78 | 2.71 |
| P/B Ratio | 22.44 | 16.52 | 9.41 | 5.60 | 12.95 | 16.58 | 8.41 | 25.11 | 18.96 | 5.67 | 2.79 |
| P/FCF | 427.23 | 285.13 | — | — | — | — | — | — | — | — | — |
| P/OCF | 218.05 | 145.53 | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
NTRA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 11.19 | 6.47 | 4.80 | 14.02 | 21.21 | 8.06 | 3.43 | 2.81 | 2.94 | 2.77 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 274.18 | — | — | — | — | — | — | — | — | — |
NTRA Profitability
Margins and return-on-capital ratios measuring operating efficiency
Natera, Inc. earns an operating margin of -13.1%. Operating margins have expanded from -66.0% to -13.1% over the past 3 years, signaling improving operational efficiency. A negative ROE of -19.4% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 60.3% | 60.3% | 45.5% | 44.4% | 49.1% | 47.9% | 42.0% | 35.6% | 33.8% | 37.5% | 40.7% |
| Operating Margin | -13.1% | -13.1% | -41.2% | -66.0% | -74.8% | -55.3% | -38.5% | -44.5% | -63.5% | -44.4% | -31.4% |
| Net Profit Margin | -11.2% | -11.2% | -40.2% | -66.8% | -75.4% | -58.8% | -41.3% | -49.7% | -64.6% | -44.1% | -36.9% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -19.4% | -19.4% | -59.1% | -80.6% | -82.8% | -60.1% | -80.3% | -445.1% | -206.7% | -65.8% | -1046.5% |
| ROA | -12.3% | -12.3% | -30.7% | -41.6% | -43.5% | -30.3% | -29.3% | -53.1% | -64.1% | -40.2% | -36.1% |
| ROIC | -33.3% | -33.3% | -53.5% | -49.1% | -41.7% | -29.7% | -36.2% | -70.1% | -72.6% | -42.7% | — |
| ROCE | -18.1% | -18.1% | -40.2% | -51.5% | -53.5% | -38.1% | -41.8% | -87.1% | -120.0% | -64.5% | -43.0% |
NTRA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $946M exceeds total debt of $187M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.16 | 0.16 | 0.58 | 0.63 | 0.61 | 0.58 | 0.56 | 3.84 | 4.85 | 0.47 | 0.23 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.63 | -0.26 | -0.03 | 0.48 | 0.48 | 0.34 | 2.40 | 4.35 | 0.32 | 0.07 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | -10.95 | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -20.80 | -20.80 | -35.31 | -58.06 | -56.37 | -14.34 | -10.88 | -10.94 | -31.81 | -181.03 | -17.07 |
Net cash position: cash ($946M) exceeds total debt ($187M)
NTRA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Natera, Inc.'s current ratio of 4.00x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 3.90x to 4.00x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.00 | 4.00 | 4.10 | 3.90 | 4.99 | 4.33 | 2.91 | 2.11 | 1.71 | 1.81 | 3.12 |
| Quick Ratio | 3.87 | 3.87 | 3.96 | 3.79 | 4.87 | 4.23 | 2.84 | 1.99 | 1.63 | 1.74 | 3.02 |
| Cash Ratio | 2.81 | 2.81 | 2.86 | 2.89 | 4.18 | 3.70 | 2.45 | 1.35 | 1.13 | 1.52 | 2.86 |
| Asset Turnover | — | 1.02 | 0.75 | 0.59 | 0.51 | 0.42 | 0.52 | 0.96 | 0.98 | 1.03 | 0.72 |
| Inventory Turnover | 15.06 | 15.06 | 14.47 | 12.89 | 11.83 | 10.17 | 14.16 | 12.18 | 15.51 | 21.14 | 13.94 |
| Days Sales Outstanding | — | 67.58 | 93.83 | 108.75 | 71.24 | 73.34 | 64.41 | 88.15 | 76.29 | 22.52 | 11.24 |
NTRA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Natera, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 0.2% | 0.4% | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $125M | $115M | $98M | $91M | $81M | $70M | $58M | $54M | $52M | $48M |
Peer Comparison
Compare NTRA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 NTRAYou | $30B | -140.6 | — | 427.2 | 60.3% | -13.1% | -19.4% | -33.3% | — |
 EXAS | $20B | -95.4 | — | 56.1 | 69.7% | -6.4% | -8.7% | -3.6% | — |
 ILMN | $22B | 26.2 | 20.1 | 23.3 | 66.7% | 19.9% | 33.4% | 16.8% | 2.3 |
 CGEN | $247M | -17.3 | — | 5.0 | 71.5% | -53.4% | -23.6% | -24.1% | — |
 MYRG | $7B | 60.4 | 30.7 | 30.5 | 11.5% | 4.4% | 18.8% | 18.3% | 0.5 |
 PACB | $516M | -1.6 | — | — | 24.2% | -308.0% | -51.3% | -27.6% | — |
 PRME | $616M | -2.5 | — | — | -58.1% | -4498.1% | -146.8% | -168.3% | — |
 CDNA | $1B | -52.4 | — | 29.9 | 67.0% | -5.5% | -6.3% | -5.7% | — |
 TMO | $176B | 26.7 | 19.0 | 27.9 | 37.7% | 18.2% | 13.1% | 7.5% | 3.8 |
 DHR | $124B | 34.7 | 18.1 | 23.5 | 60.9% | 20.9% | 7.1% | 5.9% | 2.4 |
 A | $33B | 25.8 | 19.7 | 28.9 | 52.4% | 21.3% | 20.6% | 13.5% | 1.9 |
| Healthcare Median | — | 22.1 | 14.1 | 18.7 | 63.9% | -5.3% | -33.7% | -10.8% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 13 years · Updated daily
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Start ComparisonNTRA — Frequently Asked Questions
Quick answers to the most common questions about buying NTRA stock.
What is Natera, Inc.'s P/E ratio?
Natera, Inc.'s current P/E ratio is -140.6x. This places it at the 50th percentile of its historical range.
What is Natera, Inc.'s ROE?
Natera, Inc.'s return on equity (ROE) is -19.4%. The historical average is -122.2%.
Is NTRA stock overvalued?
Based on historical data, Natera, Inc. is trading at a P/E of -140.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Natera, Inc.'s profit margins?
Natera, Inc. has 60.3% gross margin and -13.1% operating margin.