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Natera (NTRA) Financials

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$157.16 +3.84 (+2.50%)
Closing price 05/27/2025 04:00 PM Eastern
Extended Trading
$157.94 +0.78 (+0.50%)
As of 04:02 AM Eastern
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Annual Income Statements for Natera

Annual Income Statements for Natera

This table shows Natera's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders		 -190 -435 -548 -472 -230 -125 -128 -138 -100 -70
Consolidated Net Income / (Loss)		 -190 -435 -548 -472 -230 -125 -128 -138 -100 -70
Net Income / (Loss) Continuing Operations		 -190 -435 -548 -472 -230 -125 -128 -138 -100 -70
Total Pre-Tax Income 		-190 -435 -547 -471 -230 -123 -128 -137 -100 -70
Total Operating Income		 -222 -446 -541 -468 -216 -116 -115 -135 -101 -60
Total Gross Profit		 1,697 1,083 820 625 391 127 92 74 78 78
Total Revenue		 1,697 1,083 820 625 391 302 258 210 213 190
Operating Revenue		 1,697 1,083 820 625 391 302 258 210 213 190
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 175 166 136 134 113
Operating Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 175 166 136 134 113
Total Operating Expenses		 1,919 1,529 1,361 1,094 607 243 206 209 179 137
Selling, General & Admin Expense		 841 618 589 511 304 206 155 155 136 110
Research & Development Expense		 404 321 316 264 100 51 51 50 42 28
Other Operating Expenses / (Income)		 674 590 456 318 204 -14 0.00 4.09 1.08 -
Total Other Income / (Expense), net		 33 12 -5.78 -2.92 -13 -6.54 -13 -1.83 0.87 -10
Interest Expense		 11 13 9.32 8.31 21 11 10 4.21 0.53 2.54
Interest & Investment Income		 43 24 3.54 5.38 7.56 4.15 -2.73 2.38 1.40 -7.90
Income Tax Expense		 0.70 0.27 0.98 0.62 0.10 2.00 0.32 0.45 0.14 -
Basic Earnings per Share		 ($1.53) ($3.78) ($5.57) ($5.21) ($2.84) ($1.79) ($2.22) ($2.58) ($1.95) ($2.68)
Weighted Average Basic Shares Outstanding		 124.72M 115.00M 98.41M 90.56M 81.01M 69.56M 57.85M 53.31M 51.58M 26.20M
Diluted Earnings per Share		 ($1.53) ($3.78) ($5.57) ($5.21) ($2.84) ($1.79) ($2.22) ($2.59) ($1.95) ($2.68)
Weighted Average Diluted Shares Outstanding		 124.72M 115.00M 98.41M 90.56M 81.01M 69.56M 57.85M 53.60M 51.58M 26.20M
Weighted Average Basic & Diluted Shares Outstanding		 135.19M 120.76M 113.29M 95.47M 81.01M 69.56M 57.85M 6.88B 51.50M 26.20M

Quarterly Income Statements for Natera

This table shows Natera's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 -54 -32 -37 -68 -78 -109 -111 -137 -143 -121
Consolidated Net Income / (Loss)		 -54 -32 -37 -68 -78 -109 -111 -137 -143 -121
Net Income / (Loss) Continuing Operations		 -54 -32 -37 -68 -78 -109 -111 -137 -143 -121
Total Pre-Tax Income 		-55 -31 -37 -67 -78 -109 -111 -137 -142 -121
Total Operating Income		 -65 -39 -44 -74 -85 -111 -112 -138 -142 -119
Total Gross Profit		 476 440 413 368 311 268 261 242 217 211
Total Revenue		 476 440 413 368 311 268 261 242 217 211
Operating Revenue		 476 440 413 368 311 268 261 242 217 211
Total Operating Expenses		 541 479 457 442 396 379 374 380 359 330
Selling, General & Admin Expense		 235 214 198 194 161 155 153 150 144 148
Research & Development Expense		 129 97 89 89 83 77 78 82 88 66
Other Operating Expenses / (Income)		 176 168 170 159 151 147 143 148 127 117
Total Other Income / (Expense), net		 9.61 8.48 7.33 7.14 6.70 2.15 1.34 1.52 -0.38 -2.24
Interest Expense		 1.29 3.14 3.13 3.12 3.15 3.25 3.18 3.06 2.75 2.33
Interest & Investment Income		 11 12 10 10 9.84 5.41 4.52 4.59 2.37 0.09
Income Tax Expense		 -1.36 0.73 0.89 0.43 0.19 0.20 -0.28 0.16 0.42 0.19
Basic Earnings per Share		 ($0.41) ($0.26) ($0.30) ($0.56) ($0.63) ($0.95) ($0.97) ($1.23) ($1.37) ($1.25)
Weighted Average Basic Shares Outstanding		 124.72M 123.78M 122.85M 120.81M 115.00M 115.17M 113.69M 111.77M 98.41M 97.05M
Diluted Earnings per Share		 ($0.41) ($0.26) ($0.30) ($0.56) ($0.63) ($0.95) ($0.97) ($1.23) ($1.37) ($1.25)
Weighted Average Diluted Shares Outstanding		 124.72M 123.78M 122.85M 120.81M 115.00M 115.17M 113.69M 111.77M 98.41M 97.05M
Weighted Average Basic & Diluted Shares Outstanding		 135.19M 132.02M 123.68M 122.80M 120.76M 120.15M 114.60M 114.30M 113.29M 97.60M

Annual Cash Flow Statements for Natera

This table details how cash moves in and out of Natera's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Change in Cash & Equivalents		 303 176 381 36 -13 11 38 -3.67 -14 -58
Net Cash From Operating Activities		 136 -247 -432 -335 -183 -63 -71 -98 -74 -38
Net Cash From Continuing Operating Activities		 136 -247 -432 -335 -183 -63 -71 -98 -74 -38
Net Income / (Loss) Continuing Operations		 -190 -435 -548 -472 -230 -125 -128 -138 -100 -70
Consolidated Net Income / (Loss)		 -190 -435 -548 -472 -230 -125 -128 -138 -100 -70
Depreciation Expense		 31 24 17 11 8.61 7.73 7.50 7.14 6.18 5.54
Amortization Expense		 0.37 2.38 6.10 9.04 5.91 1.40 0.63 1.01 1.45 0.32
Non-Cash Adjustments To Reconcile Net Income		 276 205 167 162 72 25 22 12 16 17
Changes in Operating Assets and Liabilities, net		 19 -44 -74 -46 -39 27 27 20 2.34 9.35
Net Cash From Investing Activities		 138 168 330 -205 -331 -266 -5.16 14 47 -211
Net Cash From Continuing Investing Activities		 138 168 330 -205 -331 -266 -5.16 14 47 -211
Purchase of Property, Plant & Equipment		 -66 -39 -48 -41 -20 -4.97 -3.88 -9.87 -23 -7.85
Acquisitions		 -10 0.00 0.00 -8.56 0.00 0.00 - - - -
Purchase of Investments		 -122 -98 -87 -876 -685 -447 -170 -273 -54 -203
Sale and/or Maturity of Investments		 339 306 465 720 373 176 169 296 124 -
Other Investing Activities, net		 -2.67 0.00 0.00 - - - - - - -
Net Cash From Financing Activities		 30 254 483 576 501 341 114 80 13 190
Net Cash From Continuing Financing Activities		 30 254 483 576 501 341 114 80 13 190
Repayment of Debt		 -0.08 0.00 0.00 - -79 0.00 0.00 -0.29 -1.00 -33
Issuance of Debt		 0.00 0.00 30 0.00 278 0.00 0.00 75 8.00 42
Issuance of Common Equity		 17 251 446 564 278 328 100 3.34 2.59 180
Other Financing Activities, net		 13 3.89 6.41 12 24 13 13 2.32 3.60 1.45
Cash Interest Paid		 7.90 11 8.06 7.08 3.30 12 7.91 3.57 - 2.06
Cash Income Taxes Paid		 1.31 0.30 0.55 0.28 0.07 2.15 0.33 0.18 - -

Quarterly Cash Flow Statements for Natera

This table details how cash moves in and out of Natera's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 53 96 -17 172 -27 288 -22 -63 409 -34
Net Cash From Operating Activities		 53 52 3.99 27 -58 -30 -79 -81 -81 -102
Net Cash From Continuing Operating Activities		 53 52 3.99 27 -58 -30 -79 -81 -81 -102
Net Income / (Loss) Continuing Operations		 -54 -32 -37 -68 -78 -109 -111 -137 -143 -121
Consolidated Net Income / (Loss)		 -54 -32 -37 -68 -78 -109 -111 -137 -143 -121
Depreciation Expense		 7.79 8.20 7.92 7.06 6.91 6.99 5.12 5.08 3.93 5.14
Amortization Expense		 0.02 0.26 0.23 -0.13 -0.52 0.80 0.99 1.11 1.18 1.33
Non-Cash Adjustments To Reconcile Net Income		 72 73 67 64 57 58 45 45 40 50
Changes in Operating Assets and Liabilities, net		 27 1.94 -34 23 -43 14 -19 4.55 16 -37
Net Cash From Investing Activities		 -11 43 -32 138 24 81 47 16 22 67
Net Cash From Continuing Investing Activities		 -11 43 -32 138 24 81 47 16 22 67
Purchase of Property, Plant & Equipment		 -18 -16 -12 -20 -10 -8.96 -8.81 -11 -12 -12
Sale and/or Maturity of Investments		 7.00 111 52 169 133 90 56 27 34 86
Net Cash From Financing Activities		 11 1.72 11 6.47 6.85 236 9.31 2.30 468 1.39
Net Cash From Continuing Financing Activities		 11 1.72 11 6.47 6.85 236 9.31 2.30 468 1.39
Issuance of Common Equity		 8.44 - - - 6.45 235 - - 438 -
Other Financing Activities, net		 2.62 1.72 2.18 6.47 0.39 0.56 0.64 2.30 0.44 1.39
Cash Interest Paid		 1.11 1.19 4.41 1.18 4.44 1.31 4.47 1.12 4.05 0.40

Annual Balance Sheets for Natera

This table presents Natera's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Assets		 1,661 1,442 1,394 1,236 932 583 268 215 211 265
Total Current Assets		 1,376 1,259 1,212 1,093 863 523 241 181 174 251
Cash & Equivalents		 946 642 466 84 49 62 46 13 15 29
Short-Term Investments		 23 237 432 830 689 379 107 106 131 202
Accounts Receivable		 314 278 244 122 79 53 62 44 13 5.86
Inventories, net		 45 41 35 27 20 12 14 9.00 6.41 8.09
Prepaid Expenses		 49 61 34 30 27 16 6.20 8.61 7.10 5.34
Plant, Property, & Equipment, net		 162 111 92 66 33 23 24 30 32 13
Total Noncurrent Assets		 123 72 90 78 36 36 3.32 4.32 4.28 1.80
Other Noncurrent Operating Assets		 123 72 90 78 36 36 3.32 3.98 3.93 1.12
Total Liabilities & Shareholders' Equity		 1,661 1,442 1,394 1,236 932 583 268 215 211 265
Total Liabilities		 465 676 689 583 446 304 236 189 104 80
Total Current Liabilities		 344 307 310 219 199 180 114 106 96 80
Short-Term Debt		 80 80 80 50 50 50 50 50 50 42
Accounts Payable		 35 15 31 27 8.10 8.60 15 8.53 11 7.33
Current Deferred Revenue		 20 17 11 7.40 50 56 4.13 1.42 0.57 0.14
Current Employee Benefit Liabilities		 62 46 44 41 30 16 13 9.60 11 8.55
Other Current Liabilities		 147 149 144 93 60 - - 2.64 3.79 3.65
Total Noncurrent Liabilities		 121 369 378 364 247 124 122 84 7.79 0.00
Long-Term Debt		 0.00 283 282 280 202 74 73 73 - -
Noncurrent Deferred Revenue		 25 19 20 21 23 24 49 9.24 7.79 -
Other Noncurrent Operating Liabilities		 97 67 77 63 22 27 - 1.33 - -
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,195 765 706 653 486 279 32 25 106 185
Total Preferred & Common Equity		 1,195 765 706 653 486 279 32 25 106 185
Total Common Equity		 1,195 765 706 653 486 279 32 25 106 185
Common Stock		 3,764 3,146 2,665 2,050 1,411 977 607 473 453 436
Retained Earnings		 -2,568 -2,377 -1,943 -1,395 -929 -699 -575 -446 -346 -250
Accumulated Other Comprehensive Income / (Loss)		 -0.34 -3.09 -16 -2.29 4.26 0.92 -0.55 -0.77 -0.73 -1.42

Quarterly Balance Sheets for Natera

This table presents Natera's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets		 1,591 1,517 1,468 1,447 1,248 1,319 1,009
Total Current Assets		 1,323 1,302 1,261 1,267 1,066 1,129 830
Cash & Equivalents		 893 797 814 669 381 403 57
Short-Term Investments		 29 90 69 268 355 409 464
Accounts Receivable		 307 336 289 255 260 247 236
Inventories, net		 49 41 43 42 43 41 40
Prepaid Expenses		 45 38 47 33 27 30 32
Plant, Property, & Equipment, net		 142 133 126 105 103 101 87
Total Noncurrent Assets		 126 82 81 74 79 89 92
Other Noncurrent Operating Assets		 126 82 81 74 79 89 92
Total Liabilities & Shareholders' Equity		 1,591 1,517 1,468 1,447 1,248 1,319 1,009
Total Liabilities		 712 680 674 662 652 668 647
Total Current Liabilities		 301 315 306 290 277 291 267
Short-Term Debt		 80 80 80 80 80 80 50
Accounts Payable		 28 33 26 21 21 36 34
Current Deferred Revenue		 18 18 18 15 16 17 7.93
Current Employee Benefit Liabilities		 49 41 40 39 34 39 42
Other Current Liabilities		 126 141 142 134 126 119 133
Total Noncurrent Liabilities		 411 366 368 372 375 377 380
Long-Term Debt		 287 284 283 283 282 282 281
Noncurrent Deferred Revenue		 26 21 21 21 22 22 20
Other Noncurrent Operating Liabilities		 99 61 64 68 71 74 78
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 879 837 794 785 596 651 362
Total Preferred & Common Equity		 879 837 794 785 596 651 362
Total Common Equity		 879 837 794 785 596 651 362
Common Stock		 3,393 3,320 3,241 3,089 2,796 2,742 2,181
Retained Earnings		 -2,514 -2,482 -2,445 -2,299 -2,190 -2,080 -1,800
Accumulated Other Comprehensive Income / (Loss)		 -0.77 -1.36 -2.19 -5.40 -9.20 -12 -20

Annual Metrics And Ratios for Natera

This table displays calculated financial ratios and metrics derived from Natera's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 56.75% 31.99% 31.13% 59.97% 29.33% 17.34% 22.91% -1.36% 11.64% 19.50%
EBITDA Growth		 54.51% 19.00% -15.71% -121.99% -88.28% -0.62% 16.27% -36.13% -73.06% -1,028.73%
EBIT Growth		 50.19% 17.52% -15.56% -116.47% -85.99% -1.45% 15.30% -33.93% -68.87% -9,098.20%
NOPAT Growth		 50.19% 17.52% -15.56% -116.47% -85.99% -1.45% 15.30% -33.93% -68.87% -9,098.20%
Net Income Growth		 56.20% 20.63% -16.13% -105.32% -84.05% 2.60% 6.88% -37.18% -42.76% -1,264.03%
EPS Growth		 59.52% 32.14% -6.91% -83.45% -58.66% 19.37% 14.29% -32.82% 27.24% -150.47%
Operating Cash Flow Growth		 154.93% 42.77% -28.72% -83.68% -187.67% 10.11% 27.85% -32.10% -95.74% -460.65%
Free Cash Flow Firm Growth		 45.66% 17.99% -21.03% -106.85% -319.11% 5.16% 58.34% -36.63% -69.15% -461.54%
Invested Capital Growth		 23.15% 47.44% 144.59% 5,137.52% 103.43% -1,280.45% -109.52% 242.99% 262.49% 60.61%
Revenue Q/Q Growth		 10.77% 9.49% 5.70% 10.74% 8.05% 5.69% 6.14% 3.61% -3.70% 0.00%
EBITDA Q/Q Growth		 10.00% 12.23% -0.47% -17.01% -22.31% -4.49% 13.64% -3.73% -34.74% 0.00%
EBIT Q/Q Growth		 8.18% 11.37% -0.39% -16.32% -22.11% -4.57% 12.85% -3.33% -32.75% 0.00%
NOPAT Q/Q Growth		 8.18% 11.37% -0.39% -16.32% -22.11% -4.57% 12.85% -3.33% -32.75% 0.00%
Net Income Q/Q Growth		 11.30% 12.93% -0.37% -15.74% -21.87% -2.75% 10.71% -3.57% -24.14% 0.00%
EPS Q/Q Growth		 12.57% 16.37% 2.62% -13.02% -20.34% 3.24% 14.29% -1.97% -195.12% 0.00%
Operating Cash Flow Q/Q Growth		 438.95% 8.70% 3.92% -8.21% -46.87% -3.66% 17.83% 1.53% -50.83% -64.38%
Free Cash Flow Firm Q/Q Growth		 24.19% -0.25% 1.04% -6.73% -46.89% -20.46% 49.46% -23.76% 0.00% 0.00%
Invested Capital Q/Q Growth		 -4.86% 18.25% -1.46% 6.16% 105.57% -28.71% -127.93% 326.99% 63.86% 0.00%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 41.96% 35.55% 35.36% 36.71% 40.72%
EBITDA Margin		 -11.25% -38.78% -63.18% -71.61% -51.60% -35.44% -41.33% -60.67% -43.96% -28.36%
Operating Margin		 -13.10% -41.22% -65.96% -74.85% -55.31% -38.46% -44.49% -64.56% -47.55% -31.44%
EBIT Margin		 -13.10% -41.22% -65.96% -74.85% -55.31% -38.46% -44.49% -64.56% -47.55% -31.44%
Profit (Net Income) Margin		 -11.22% -40.16% -66.79% -75.42% -58.76% -41.29% -49.74% -65.65% -47.21% -36.92%
Tax Burden Percent		 100.37% 100.06% 100.18% 100.13% 100.04% 101.63% 100.25% 100.33% 100.14% 100.00%
Interest Burden Percent		 85.35% 97.37% 101.07% 100.62% 106.18% 105.62% 111.52% 101.35% 99.14% 117.44%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -55.85% -149.08% -317.47% -928.89% 0.00% 0.00% -604.83% -500.26% -4,302.62% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 -50.89% -125.81% -287.29% -901.95% 0.00% 0.00% -296.16% -409.02% -4,282.06% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 36.43% 89.97% 236.85% 846.10% 0.00% 0.00% 159.69% 291.56% 4,233.72% 0.00%
Return on Equity (ROE)		 -19.42% -59.11% -80.62% -82.79% -60.07% -80.31% -445.14% -208.70% -68.90% -55.33%
Cash Return on Invested Capital (CROIC)		 -76.60% -187.43% -401.39% -1,121.40% -14,468.37% 0.00% 0.00% -609.96% -988.85% 0.00%
Operating Return on Assets (OROA)		 -14.33% -31.47% -41.13% -43.18% -28.56% -27.34% -47.49% -63.65% -42.47% -30.78%
Return on Assets (ROA)		 -12.28% -30.66% -41.64% -43.50% -30.33% -29.34% -53.09% -64.72% -42.16% -36.14%
Return on Common Equity (ROCE)		 -19.42% -59.11% -80.62% -82.79% -60.07% -80.31% -445.14% -208.70% -68.90% -2.92%
Return on Equity Simple (ROE_SIMPLE)		 -15.93% -56.81% -77.62% -72.20% -47.25% -44.79% -398.46% -541.48% -94.23% -38.03%
Net Operating Profit after Tax (NOPAT)		 -156 -312 -379 -328 -151 -81 -80 -95 -71 -42
NOPAT Margin		 -9.17% -28.85% -46.17% -52.39% -38.72% -26.92% -31.14% -45.19% -33.29% -22.00%
Net Nonoperating Expense Percent (NNEP)		 -4.96% -23.28% -30.18% -26.94% -19.53% -24.66% -308.67% -91.24% -20.55% -20.82%
Return On Investment Capital (ROIC_SIMPLE)		 -12.20% -27.68% -35.47% - - - - - - -
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 58.04% 64.45% 64.64% 63.29% 59.28%
SG&A Expenses to Revenue		 49.58% 57.11% 71.76% 81.70% 77.65% 68.20% 60.11% 74.09% 64.06% 57.60%
R&D to Revenue		 23.82% 29.62% 38.58% 42.24% 25.58% 16.99% 19.93% 23.88% 19.70% 14.56%
Operating Expenses to Revenue		 113.10% 141.22% 165.96% 174.85% 155.31% 80.42% 80.04% 99.92% 84.26% 72.15%
Earnings before Interest and Taxes (EBIT)		 -222 -446 -541 -468 -216 -116 -115 -135 -101 -60
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -191 -420 -518 -448 -202 -107 -106 -127 -93 -54
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 17.48 9.83 5.56 13.52 17.47 9.37 26.83 19.02 5.76 2.92
Price to Tangible Book Value (P/TBV)		 17.48 9.83 5.56 13.52 17.47 9.37 26.83 19.02 5.76 2.92
Price to Revenue (P/Rev)		 12.32 6.95 4.78 14.12 21.73 8.64 3.35 2.31 2.89 2.84
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 65.08 28.08 19.98 119.15 6,059.83 0.00 0.00 16.63 60.33 0.00
Enterprise Value to Revenue (EV/Rev)		 11.79 6.48 4.13 13.19 20.49 7.59 3.21 2.33 2.43 1.84
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 147.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.07 0.47 0.51 0.51 0.52 0.44 3.84 4.85 0.47 0.23
Long-Term Debt to Equity		 0.00 0.37 0.40 0.43 0.42 0.26 2.28 2.87 0.00 0.00
Financial Leverage		 -0.72 -0.72 -0.82 -0.94 -1.05 -1.13 -0.54 -0.71 -0.99 -1.07
Leverage Ratio		 1.58 1.93 1.94 1.90 1.98 2.74 8.38 3.22 1.63 1.53
Compound Leverage Factor		 1.35 1.88 1.96 1.92 2.10 2.89 9.35 3.27 1.62 1.80
Debt to Total Capital		 6.30% 32.19% 33.90% 33.59% 34.18% 30.75% 79.34% 82.90% 31.79% 18.55%
Short-Term Debt to Total Capital		 6.30% 7.12% 7.53% 5.09% 6.78% 12.45% 32.22% 33.72% 31.79% 18.55%
Long-Term Debt to Total Capital		 0.00% 25.07% 26.38% 28.50% 27.41% 18.30% 47.12% 49.17% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 93.70% 67.81% 66.10% 66.41% 65.82% 69.25% 20.66% 17.11% 68.21% 81.45%
Debt to EBITDA		 -0.42 -0.87 -0.70 -0.74 -1.25 -1.16 -1.16 -0.97 -0.53 -0.78
Net Debt to EBITDA		 4.65 1.23 1.04 1.30 2.40 2.96 0.33 -0.03 1.04 3.51
Long-Term Debt to EBITDA		 0.00 -0.67 -0.54 -0.63 -1.00 -0.69 -0.69 -0.57 0.00 0.00
Debt to NOPAT		 -0.52 -1.16 -0.96 -1.01 -1.67 -1.52 -1.54 -1.30 -0.70 -1.00
Net Debt to NOPAT		 5.71 1.65 1.42 1.78 3.20 3.90 0.44 -0.04 1.38 4.52
Long-Term Debt to NOPAT		 0.00 -0.91 -0.74 -0.86 -1.34 -0.90 -0.91 -0.77 0.00 0.00
Altman Z-Score		 26.11 4.89 1.55 7.61 10.54 4.04 -0.69 -2.06 1.10 3.45
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 94.71%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 4.00 4.10 3.90 4.99 4.33 2.91 2.11 1.71 1.81 3.12
Quick Ratio		 3.73 3.77 3.68 4.73 4.10 2.75 1.90 1.54 1.65 2.94
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -213 -393 -479 -396 -191 -46 -48 -116 -85 -50
Operating Cash Flow to CapEx		 204.24% -630.00% -904.67% -817.05% -930.99% -1,277.05% -1,819.10% -991.44% -320.07% -512.00%
Free Cash Flow to Firm to Interest Expense		 -19.97 -31.07 -51.38 -47.64 -9.14 -4.27 -4.59 -27.42 -158.62 -19.67
Operating Cash Flow to Interest Expense		 12.70 -19.54 -46.30 -40.37 -8.72 -5.93 -6.74 -23.22 -138.93 -14.89
Operating Cash Flow Less CapEx to Interest Expense		 6.48 -22.64 -51.42 -45.31 -9.66 -6.40 -7.11 -25.56 -182.34 -17.80
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 1.09 0.76 0.62 0.58 0.52 0.71 1.07 0.99 0.89 0.98
Accounts Receivable Turnover		 5.73 4.14 4.48 6.23 5.93 5.23 4.85 7.29 22.07 32.25
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 13.48 14.68 17.58 18.54 11.49
Fixed Asset Turnover		 12.42 10.63 10.38 12.65 13.81 12.70 9.54 6.77 9.45 13.95
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 15.13 14.37 13.55 14.30 13.93
Days Sales Outstanding (DSO)		 63.72 88.11 81.54 58.54 61.57 69.77 75.30 50.05 16.54 11.32
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 27.07 24.87 20.76 19.69 31.76
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 24.12 25.41 26.95 25.53 26.20
Cash Conversion Cycle (CCC)		 63.72 88.11 81.54 58.54 61.57 72.72 74.77 43.86 10.70 16.87
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 308 250 169 69 1.32 -39 -2.79 29 8.55 -5.26
Invested Capital Turnover		 6.09 5.17 6.88 17.73 -21.00 -14.62 19.42 11.07 129.27 -20.44
Increase / (Decrease) in Invested Capital		 58 80 100 68 40 -36 -32 21 14 8.10
Enterprise Value (EV)		 20,011 7,011 3,384 8,250 8,011 2,295 828 488 516 351
Market Capitalization		 20,899 7,526 3,921 8,834 8,496 2,612 863 483 613 540
Book Value per Share		 $9.05 $6.37 $7.23 $6.91 $5.70 $3.59 $0.52 $0.47 $2.03 $3.70
Tangible Book Value per Share		 $9.05 $6.37 $7.23 $6.91 $5.70 $3.59 $0.52 $0.47 $2.03 $3.70
Total Capital		 1,276 1,129 1,068 984 739 402 156 149 156 227
Total Debt		 80 363 362 330 253 124 124 123 50 42
Total Long-Term Debt		 0.00 283 282 280 202 74 73 73 0.00 0.00
Net Debt		 -888 -516 -536 -584 -485 -317 -35 4.25 -98 -189
Capital Expenditures (CapEx)		 66 39 48 41 20 4.97 3.88 9.87 23 7.39
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 144 153 83 9.72 -24 -48 18 6.25 -20 -19
Debt-free Net Working Capital (DFNWC)		 1,112 1,032 982 924 714 393 177 125 127 212
Net Working Capital (NWC)		 1,032 951 901 874 664 343 127 75 78 170
Net Nonoperating Expense (NNE)		 35 122 169 144 78 43 48 43 30 28
Net Nonoperating Obligations (NNO)		 -888 -516 -536 -584 -485 -317 -35 3.91 -98 -190
Total Depreciation and Amortization (D&A)		 31 26 23 20 15 9.13 8.13 8.15 7.62 5.85
Debt-free, Cash-free Net Working Capital to Revenue		 8.48% 14.11% 10.15% 1.55% -6.09% -15.75% 7.07% 2.98% -9.36% -10.03%
Debt-free Net Working Capital to Revenue		 65.54% 95.30% 119.68% 147.76% 182.52% 130.13% 68.58% 59.71% 59.91% 111.55%
Net Working Capital to Revenue		 60.80% 87.87% 109.89% 139.76% 169.72% 113.55% 49.11% 35.81% 36.56% 89.44%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.53) ($3.78) ($5.57) ($5.21) ($2.84) ($1.79) ($2.22) ($2.56) ($1.86) ($2.68)
Adjusted Weighted Average Basic Shares Outstanding		 124.72M 115.00M 98.41M 90.56M 86.57M 69.56M 57.85M 53.31M 52.77M 50.85M
Adjusted Diluted Earnings per Share		 ($1.53) ($3.78) ($5.57) ($5.21) ($2.84) ($1.79) ($2.22) ($2.56) ($1.86) ($2.68)
Adjusted Weighted Average Diluted Shares Outstanding		 124.72M 115.00M 98.41M 90.56M 86.57M 69.56M 57.85M 53.60M 52.77M 50.85M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($2.84) $0.00 $0.00 $0.00 ($1.86) ($2.68)
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 135.19M 120.76M 113.29M 95.47M 81.01M 78.25M 62.79M 54.13M 51.58M 26.20M
Normalized Net Operating Profit after Tax (NOPAT)		 -156 -312 -379 -328 -151 -81 -80 -95 -71 -42
Normalized NOPAT Margin		 -9.17% -28.85% -46.17% -52.39% -38.72% -26.92% -31.14% -45.19% -33.29% -22.00%
Pre Tax Income Margin		 -11.18% -40.14% -66.67% -75.32% -58.73% -40.63% -49.61% -65.44% -47.14% -36.92%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -20.80 -35.31 -58.06 -56.37 -10.33 -10.88 -10.94 -32.12 -189.59 -23.55
NOPAT to Interest Expense		 -14.56 -24.72 -40.64 -39.46 -7.23 -7.61 -7.66 -22.49 -132.71 -16.48
EBIT Less CapEx to Interest Expense		 -27.02 -38.41 -63.18 -61.31 -11.27 -11.34 -11.31 -34.47 -232.99 -26.46
NOPAT Less CapEx to Interest Expense		 -20.78 -27.82 -45.76 -44.40 -8.17 -8.08 -8.03 -24.83 -176.12 -19.39
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Natera

This table displays calculated financial ratios and metrics derived from Natera's official financial filings.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 53.02% 63.90% 58.13% 52.11% 43.20% 27.38% 31.89% 24.53% 25.56% 33.22%
EBITDA Growth		 27.14% 70.07% 66.37% 49.00% 42.82% 8.34% 22.46% -0.18% -1.79% 22.34%
EBIT Growth		 23.42% 64.55% 60.95% 46.27% 40.37% 6.78% 21.43% -0.85% -1.51% 20.74%
NOPAT Growth		 23.42% 64.55% 60.95% 46.27% 40.37% 6.78% 21.43% -0.85% -1.51% 20.74%
Net Income Growth		 31.09% 71.02% 66.19% 50.64% 45.27% 10.25% 23.66% 1.20% -1.43% 19.69%
EPS Growth		 34.92% 72.63% 69.07% 54.47% 54.01% 24.00% 35.33% 15.17% 9.87% 23.31%
Operating Cash Flow Growth		 191.81% 274.37% 105.08% 133.29% 28.99% 70.95% 29.14% 40.92% 17.83% -12.29%
Free Cash Flow Firm Growth		 26.08% -19.33% 26.38% 28.78% 30.02% 38.42% 12.71% -4.84% -20.32% 2.12%
Invested Capital Growth		 23.15% 53.07% 40.60% 36.79% 47.44% 22.86% 62.77% 66.18% 144.59% 163.50%
Revenue Q/Q Growth		 8.26% 6.39% 12.40% 18.20% 15.95% 2.64% 8.13% 11.28% 3.14% 6.28%
EBITDA Q/Q Growth		 -84.36% 13.62% 46.94% 13.77% 24.28% 2.94% 19.53% 3.32% -21.38% 17.89%
EBIT Q/Q Growth		 -64.57% 10.40% 40.92% 12.09% 23.83% 1.28% 18.71% 2.45% -19.08% 16.80%
NOPAT Q/Q Growth		 -64.57% 10.40% 40.92% 12.09% 23.83% 1.28% 18.71% 2.45% -19.08% 16.80%
Net Income Q/Q Growth		 -70.20% 15.67% 44.58% 13.37% 28.43% 1.60% 19.08% 3.95% -17.36% 16.31%
EPS Q/Q Growth		 -57.69% 13.33% 46.43% 11.11% 33.68% 2.06% 21.14% 10.22% -9.60% 16.67%
Operating Cash Flow Q/Q Growth		 2.13% 1,197.89% -85.22% 146.45% -93.96% 62.19% 3.16% 0.02% 20.66% 7.76%
Free Cash Flow Firm Q/Q Growth		 26.12% -15.15% 3.74% 9.74% -19.27% 28.96% 6.88% 11.30% -4.94% -0.71%
Invested Capital Q/Q Growth		 -4.86% 3.12% 14.03% 10.07% 18.25% -5.28% 10.94% 18.65% -1.46% 25.49%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 -11.96% -7.02% -8.65% -18.32% -25.12% -38.46% -40.67% -54.65% -62.90% -53.45%
Operating Margin		 -13.60% -8.95% -10.62% -20.21% -27.17% -41.36% -43.01% -57.21% -65.26% -56.52%
EBIT Margin		 -13.60% -8.95% -10.62% -20.21% -27.17% -41.36% -43.01% -57.21% -65.26% -56.52%
Profit (Net Income) Margin		 -11.30% -7.18% -9.06% -18.38% -25.08% -40.64% -42.39% -56.64% -65.63% -57.67%
Tax Burden Percent		 97.54% 102.37% 102.44% 100.64% 100.25% 100.19% 99.75% 100.12% 100.30% 100.15%
Interest Burden Percent		 85.15% 78.45% 83.30% 90.39% 92.08% 98.06% 98.81% 98.90% 100.27% 101.88%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -57.98% -35.90% -37.72% -71.87% -98.28% -149.49% -155.78% -215.96% -314.07% -258.99%
ROIC Less NNEP Spread (ROIC-NNEP)		 -56.78% -35.18% -36.22% -68.65% -94.69% -141.27% -146.35% -206.75% -306.34% -250.35%
Return on Net Nonoperating Assets (RNNOA)		 40.64% 23.88% 22.66% 46.04% 67.72% 94.07% 95.74% 150.97% 252.56% 197.39%
Return on Equity (ROE)		 -17.34% -12.02% -15.06% -25.82% -30.56% -55.42% -60.04% -64.99% -61.52% -61.60%
Cash Return on Invested Capital (CROIC)		 -76.60% -105.37% -115.64% -143.55% -187.43% -204.55% -246.79% -285.59% -401.39% -408.20%
Operating Return on Assets (OROA)		 -14.88% -9.02% -10.45% -17.53% -20.74% -33.31% -34.60% -40.31% -40.69% -37.80%
Return on Assets (ROA)		 -12.36% -7.25% -8.92% -15.94% -19.15% -32.72% -34.10% -39.91% -40.92% -38.57%
Return on Common Equity (ROCE)		 -17.34% -12.02% -15.06% -25.82% -30.56% -55.42% -60.04% -64.99% -61.52% -61.60%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -24.44% -34.92% -46.02% 0.00% -63.64% -85.85% -83.95% 0.00% -150.93%
Net Operating Profit after Tax (NOPAT)		 -45 -28 -31 -52 -59 -78 -79 -97 -99 -83
NOPAT Margin		 -9.52% -6.26% -7.43% -14.15% -19.02% -28.95% -30.11% -40.04% -45.68% -39.56%
Net Nonoperating Expense Percent (NNEP)		 -1.20% -0.72% -1.50% -3.22% -3.58% -8.21% -9.43% -9.21% -7.73% -8.63%
Return On Investment Capital (ROIC_SIMPLE)		 -3.55% - - - -5.24% - - - -9.29% -
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 49.35% 48.70% 47.89% 52.83% 51.89% 57.67% 58.34% 61.89% 66.20% 70.11%
R&D to Revenue		 27.19% 22.04% 21.56% 24.10% 26.67% 28.79% 29.91% 34.05% 40.47% 31.10%
Operating Expenses to Revenue		 113.60% 108.95% 110.62% 120.21% 127.17% 141.36% 143.01% 157.21% 165.26% 156.52%
Earnings before Interest and Taxes (EBIT)		 -65 -39 -44 -74 -85 -111 -112 -138 -142 -119
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -57 -31 -36 -67 -78 -103 -106 -132 -137 -113
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 17.48 17.87 15.90 13.91 9.83 6.46 9.33 9.67 5.56 11.75
Price to Tangible Book Value (P/TBV)		 17.48 17.87 15.90 13.91 9.83 6.46 9.33 9.67 5.56 11.75
Price to Revenue (P/Rev)		 12.32 10.25 9.77 9.14 6.95 5.13 5.97 7.25 4.78 5.48
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 65.08 46.86 40.76 38.29 28.08 21.30 23.28 29.06 19.98 23.62
Enterprise Value to Revenue (EV/Rev)		 11.79 9.89 9.39 8.71 6.48 4.55 5.57 6.73 4.13 5.23
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 147.50 601.70 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.07 0.42 0.44 0.46 0.47 0.46 0.61 0.56 0.51 0.92
Long-Term Debt to Equity		 0.00 0.33 0.34 0.36 0.37 0.36 0.47 0.43 0.40 0.78
Financial Leverage		 -0.72 -0.68 -0.63 -0.67 -0.72 -0.67 -0.65 -0.73 -0.82 -0.79
Leverage Ratio		 1.58 1.83 1.93 1.93 1.93 2.14 2.22 2.07 1.94 2.07
Compound Leverage Factor		 1.35 1.43 1.61 1.74 1.78 2.10 2.20 2.04 1.94 2.11
Debt to Total Capital		 6.30% 29.47% 30.32% 31.41% 32.19% 31.63% 37.83% 35.77% 33.90% 47.83%
Short-Term Debt to Total Capital		 6.30% 6.46% 6.70% 6.94% 7.12% 7.01% 8.39% 7.94% 7.53% 7.24%
Long-Term Debt to Total Capital		 0.00% 23.01% 23.62% 24.47% 25.07% 24.62% 29.44% 27.84% 26.38% 40.59%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 93.70% 70.53% 69.68% 68.59% 67.81% 68.37% 62.17% 64.23% 66.10% 52.17%
Debt to EBITDA		 -0.42 -1.73 -1.28 -1.02 -0.87 -0.76 -0.74 -0.70 -0.70 -0.64
Net Debt to EBITDA		 4.65 2.62 1.84 1.46 1.23 1.20 0.77 0.87 1.04 0.37
Long-Term Debt to EBITDA		 0.00 -1.35 -1.00 -0.80 -0.67 -0.59 -0.58 -0.54 -0.54 -0.55
Debt to NOPAT		 -0.52 -2.17 -1.66 -1.36 -1.16 -1.03 -1.01 -0.95 -0.96 -0.88
Net Debt to NOPAT		 5.71 3.28 2.38 1.94 1.65 1.63 1.04 1.18 1.42 0.50
Long-Term Debt to NOPAT		 0.00 -1.69 -1.29 -1.06 -0.91 -0.80 -0.79 -0.74 -0.74 -0.75
Altman Z-Score		 26.42 12.66 11.02 8.94 5.72 3.61 3.87 4.51 2.49 2.49
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 4.00 4.39 4.14 4.12 4.10 4.37 3.85 3.88 3.90 3.10
Quick Ratio		 3.73 4.08 3.89 3.83 3.77 4.11 3.60 3.64 3.68 2.83
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -103 -140 -121 -126 -140 -117 -165 -177 -199 -190
Operating Cash Flow to CapEx		 291.90% 317.47% 34.17% 132.91% -573.07% -331.57% -891.52% -712.72% -685.95% -837.48%
Free Cash Flow to Firm to Interest Expense		 -79.82 -44.43 -38.77 -40.31 -44.32 -35.97 -51.83 -57.77 -72.44 -81.53
Operating Cash Flow to Interest Expense		 40.93 16.48 1.28 8.64 -18.30 -9.13 -24.72 -26.50 -29.48 -43.88
Operating Cash Flow Less CapEx to Interest Expense		 26.91 11.29 -2.46 2.14 -21.49 -11.89 -27.50 -30.22 -33.78 -49.12
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 1.09 1.01 0.98 0.87 0.76 0.81 0.80 0.70 0.62 0.67
Accounts Receivable Turnover		 5.73 5.45 4.57 4.51 4.14 4.02 3.98 4.19 4.48 4.48
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 12.42 12.40 11.52 10.68 10.63 10.28 10.08 9.70 10.38 10.57
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 63.72 66.95 79.95 80.87 88.11 90.72 91.81 87.20 81.54 81.56
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 63.72 66.95 79.95 80.87 88.11 90.72 91.81 87.20 81.54 81.56
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 308 323 313 275 250 211 223 201 169 172
Invested Capital Turnover		 6.09 5.73 5.07 5.08 5.17 5.16 5.17 5.39 6.88 6.55
Increase / (Decrease) in Invested Capital		 58 112 90 74 80 39 86 80 100 107
Enterprise Value (EV)		 20,011 15,146 12,775 10,525 7,011 4,498 5,189 5,840 3,384 4,059
Market Capitalization		 20,899 15,701 13,298 11,045 7,526 5,071 5,562 6,290 3,921 4,249
Book Value per Share		 $9.05 $7.10 $6.81 $6.58 $6.37 $6.85 $5.22 $5.74 $7.23 $3.73
Tangible Book Value per Share		 $9.05 $7.10 $6.81 $6.58 $6.37 $6.85 $5.22 $5.74 $7.23 $3.73
Total Capital		 1,276 1,246 1,201 1,158 1,129 1,148 959 1,013 1,068 693
Total Debt		 80 367 364 364 363 363 363 362 362 331
Total Long-Term Debt		 0.00 287 284 283 283 283 282 282 282 281
Net Debt		 -888 -555 -523 -519 -516 -574 -373 -450 -536 -190
Capital Expenditures (CapEx)		 18 16 12 20 10 8.96 8.81 11 12 12
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 144 179 181 153 153 121 133 107 83 91
Debt-free Net Working Capital (DFNWC)		 1,112 1,102 1,068 1,036 1,032 1,058 869 919 982 612
Net Working Capital (NWC)		 1,032 1,021 987 955 951 977 789 838 901 562
Net Nonoperating Expense (NNE)		 8.45 4.06 6.73 16 19 31 32 40 43 38
Net Nonoperating Obligations (NNO)		 -888 -555 -523 -519 -516 -574 -373 -450 -536 -190
Total Depreciation and Amortization (D&A)		 7.81 8.46 8.15 6.93 6.40 7.79 6.11 6.18 5.11 6.47
Debt-free, Cash-free Net Working Capital to Revenue		 8.48% 11.70% 13.27% 12.66% 14.11% 12.26% 14.30% 12.32% 10.15% 11.76%
Debt-free Net Working Capital to Revenue		 65.54% 71.91% 78.47% 85.71% 95.30% 106.99% 93.34% 105.88% 119.68% 78.93%
Net Working Capital to Revenue		 60.80% 66.66% 72.56% 79.06% 87.87% 98.85% 84.71% 96.62% 109.89% 72.47%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.41) ($0.26) ($0.30) ($0.56) ($0.63) ($0.95) ($0.97) ($1.23) ($1.37) ($1.25)
Adjusted Weighted Average Basic Shares Outstanding		 124.72M 123.78M 122.85M 120.81M 115.00M 115.17M 113.69M 111.77M 98.41M 97.05M
Adjusted Diluted Earnings per Share		 ($0.41) ($0.26) ($0.30) ($0.56) ($0.63) ($0.95) ($0.97) ($1.23) ($1.37) ($1.25)
Adjusted Weighted Average Diluted Shares Outstanding		 124.72M 123.78M 122.85M 120.81M 115.00M 115.17M 113.69M 111.77M 98.41M 97.05M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 135.19M 132.02M 123.68M 122.80M 120.76M 120.15M 114.60M 114.30M 113.29M 97.60M
Normalized Net Operating Profit after Tax (NOPAT)		 -45 -28 -31 -52 -59 -78 -79 -97 -99 -83
Normalized NOPAT Margin		 -9.52% -6.26% -7.43% -14.15% -19.02% -28.95% -30.11% -40.04% -45.68% -39.56%
Pre Tax Income Margin		 -11.58% -7.02% -8.85% -18.27% -25.02% -40.56% -42.50% -56.58% -65.43% -57.58%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -50.11 -12.52 -14.04 -23.79 -26.85 -34.13 -35.39 -45.18 -51.52 -51.10
NOPAT to Interest Expense		 -35.08 -8.76 -9.83 -16.65 -18.80 -23.89 -24.77 -31.63 -36.06 -35.77
EBIT Less CapEx to Interest Expense		 -64.13 -17.71 -17.77 -30.29 -30.05 -36.88 -38.16 -48.90 -55.81 -56.34
NOPAT Less CapEx to Interest Expense		 -49.10 -13.96 -13.56 -23.15 -21.99 -26.64 -27.54 -35.34 -40.36 -41.01
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Frequently Asked Questions About Natera's Financials

When does Natera's fiscal year end?

According to the most recent income statement we have on file, Natera's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Natera's net income changed over the last 9 years?

Natera's net income appears to be on an upward trend, with a most recent value of -$190.43 million in 2024, rising from -$70.28 million in 2015. The previous period was -$434.80 million in 2023. See where experts think Natera is headed by visiting Natera's forecast page.

What is Natera's operating income?
Natera's total operating income in 2024 was -$222.29 million, based on the following breakdown:
  • Total Gross Profit: $1.70 billion
  • Total Operating Expenses: $1.92 billion
How has Natera revenue changed over the last 9 years?

Over the last 9 years, Natera's total revenue changed from $190.36 million in 2015 to $1.70 billion in 2024, a change of 791.4%.

How much debt does Natera have?

Natera's total liabilities were at $465.32 million at the end of 2024, a 31.2% decrease from 2023, and a 478.2% increase since 2015.

How much cash does Natera have?

In the past 9 years, Natera's cash and equivalents has ranged from $12.62 million in 2017 to $945.59 million in 2024, and is currently $945.59 million as of their latest financial filing in 2024.

How has Natera's book value per share changed over the last 9 years?

Over the last 9 years, Natera's book value per share changed from 3.70 in 2015 to 9.05 in 2024, a change of 145.0%.


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This page (NASDAQ:NTRA) was last updated on 5/28/2025 by MarketBeat.com Staff
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