Natera Inc

Natera Inc

NTRA

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Market Cap$46.13B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Natera IncNatera Inc-236.8--11%17.60.1

Earnings Call Q2 2026

August 6, 2026 - AI Summary

Strong Q2 performance: record volumes + accelerating adoption - Processed ~1.044M tests in Q2 (again >1M; new company record). - Oncology clinical MRD units: ~283k, +~56% YoY (Q2 2025), and +34k sequentially (largest QoQ increase to date). - Management attributes sequential acceleration to: recovery from weather-impacted Q1, commercial team ramp (hired earlier in 2025), and post-approval momentum (FDA + Japan PMDA) plus broad tumor-type uptake (CRC/breast largest; growing “long tail”). - Revenue: ~$753M, +~38% YoY (reported); ~40% YoY ex-revenue true ups.
Margins and cash flow improving; gross margin target reiterated - Gross margin ~65% in Q2, driven by sequential ASP improvement. - Sequential ex-true-up margin improved ~50 bps vs Q1 (partly offset by COGS uptick from scaling newer products). - Company reiterates comfort moving toward 70%+ gross margin over time (step-function style improvements expected from reimbursement/coverage and internal COGS projects). - DSO improved to ~57 days (down ~4 days), and company again generated positive cash inflow, with losses continuing to narrow while investing in growth.
Big outlook upgrade (forecast): revenue guide reset higher; growth ex true-ups ~31% - Revenue guidance reset upward by $100M at the midpoint to $2.85B–$2.91B for the year. - Implies ~31% annual revenue growth ex true-ups and expects stronger H2 vs H1. - OpEx held steady (still investing—“foot on the gas”). - Management says the guide is supported by: volume growth + stable ASPs, and better-than-expected women’s health seasonality. - Signatera ASP growth drivers are intentionally kept out of 2026 guide (MolDX/Medicare Advantage expansion + NCCN bladder + more indications expected later—key execution dependency).

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$295.30

Target Price by Analysts

6.5% downsideNatera Target Price DetailsTarget Price
$-190.51

Current Fair Value

160.3% downside

Overvalued by 160.3% based on the discounted cash flow analysis.

Share Statistics

Market cap$46.13 Billion
Enterprise Value$45.30 Billion
Dividend Yield$- (-)
Earnings per Share$-1.52
Beta1.51
Outstanding Shares143,279,000

Return

Return on Equity-10.56%ROE
Return on Assets-7.24%
Return on Invested Capital-12.53%

Valuation & Multiples

P/E Ratio-236.84P/E Ratio
PEG703.76PEG
Price to Sales17.55Price to Sales
Price to Book Ratio26.33Price to Book Ratio
Enterprise Value to Revenue16.73
Enterprise Value to EBIT-171.85
Enterprise Value to Net Income-236
Total Debt to Enterprise0.01
Debt to Equity0.14Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
August 6, 2026
EPS Estimate
$-0.49
Average shareholder expectation
Revenue Estimate
$661.24 M
Average shareholder expectation

Next Earnings Call

Expected Date
November 5, 2026
EPS Estimate
$-0.13
Average shareholder expectation
Revenue Estimate
$706.19 M
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio3.0682 193.28%
Total Calls8,800 98.36%
Total Puts27,000 95.56%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %17.79% 79.90%
Total Invested$6.83B 74.26%
Investors Holding405 382.00%

ESG Score

No data

About Natera Inc

Naterais a pioneer and global leader in cell-free DNA testing from a simple blood draw. The mission of the company is to change the management of disease worldwide with a focus on women's health, oncology, and organ health. Natera operat...