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NTRA · Nasdaq · United States · Services-Medical Laboratories
In shortNatera, Inc. is loss-making, generates cash and holds more cash than debt, with revenue growing (+35.9% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -13.4% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -9.0% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -14.3% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -13.4% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 3.39× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.05× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -76.16× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 0.87 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 4.7% | 39/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 2 of 5 | 25/100 |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 5 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 14.0% | 59/100 |
| Operating margin volatility | 28.7% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 41.1% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 625 | 820 | 1,083 | 1,697 | 2,306 |
| Research & development | 264 | 316 | 321 | 404 | 624 |
| Selling, general & admin | 511 | 589 | 618 | 841 | 1,177 |
| Operating income | (468) | (541) | (446) | (222) | (310) |
| Interest expense | 8.3 | 9.3 | 13 | 11 | 4.1 |
| Pre-tax income | (471) | (547) | (435) | (190) | (268) |
| Income tax | 0.6 | 1 | 0.3 | 0.7 | (60) |
| Net income | (472) | (548) | (435) | (190) | (208) |
| Diluted EPS | −$5.21 | −$5.57 | −$3.78 | −$1.53 | −$1.52 |
| Diluted shares (millions) | 91 | 98 | 115 | 125 | 137 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
0.87 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 7, 2026