Natera, Inc. (NTRA) AI Stock Analysis

Natera, Inc. is a diagnostics company providing molecular testing services across multiple stages of health. Its flagship products include Panorama, a non-invasive prenatal test, along with Vistara, Horizon carrier screening, and Spectrum for IVF cycles. It also offers Anora miscarriage tests and non-invasive paternity screening. In oncology, Natera provides Signatera, a circulating tumor DNA technology for cancer mutation monitoring, as well as Prospera for organ transplant rejection assessment. The company also offers Constellation, a cloud-based bioinformatics software for laboratories. Natera distributes products directly and through approximately 100 global laboratory and distribution partners, supported by partnerships with organizations such as BGI Genomics and Foundation Medicine.

Annual revenue expanded from $625.5M in FY2021 to $2.31B in FY2025, representing a 5-year revenue CAGR of 42.6%. Gross margin expanded from 49.1% in FY2021 to 64.8% in FY2025, while operating margin improved from -74.8% to -13.4%. Net income was -$208.2M in FY2025 compared to -$471.7M in FY2021. For the trailing twelve months ended June 30, 2026, revenue stood at $2.71B with a net margin of -7.1% and diluted EPS of -$1.35. In the latest quarter ended June 30, 2026, quarterly revenue grew 37.7% year-over-year.

As of June 30, 2026, Natera held $1.09B in cash and short-term investments against $238.5M in total debt, yielding net cash of $853.0M. The company had a current ratio of 3.00 and a debt-to-equity ratio of 0.13. Operating cash flow improved to $215.3M in FY2025, while free cash flow reached $109.1M after capital expenditures of $106.2M. Dilution occurred over recent years, with its 5-year share count increasing by 54.8%.

At $393.44 per share on October 16, 2026, Natera carried a market capitalization of $56.71B and an enterprise value of $55.48B. The stock traded at a price-to-sales multiple of 20.9x and an EV-to-revenue multiple of 20.5x, well above the 4.1x price-to-sales median of its US-listed Healthcare peers. Natera's price-to-book ratio stood at 30.9x. Over the 1-year period, NTRA gained 117.9%, outperforming the S&P 500 (SPY) return of 16.8%, and delivered a 5-year return of 255.2% versus 83.0% for the index.

Wall Street coverage includes 16 Strong Buy, 5 Buy, and 2 Hold ratings, with no Sell or Strong Sell ratings. The mean price target of $403.89 sits 2.7% above the October 16, 2026 closing price of $393.44. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $2.91B and EPS of -$1.47. For the following fiscal year, 15 analysts project revenue of $3.52B, reflecting 20.8% growth, and EPS of -$0.23. The company beat EPS estimates in 1 of the last 4 quarters and is scheduled to report earnings on November 5, 2026.

This page is an AI-written research summary of Natera, Inc. (NTRA). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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