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Natera, Inc. NTRA Free cash flow margin

Free cash flow margin at other companies

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11.8%+1.4pp
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22.2%+2.0pp
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Guardant HealthGH
-22%-6.7pp
Agilent Technologies logo
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IncyteINCY
28.2%+19.7pp

Other financials

Income statement

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Revenue$696.6M+38.8%
Operating income-$93.5M-18.1%
Net income-$85.1M-27.1%
EPS (diluted)-$0.60-20.0%

Balance sheet

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Cash & equivalents$1.1B+11.7%
Total debt$240.1M+22.7%
Total equity$1.8B+43.1%
Total assets$2.6B+50.9%

Cash flow

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Operating cash flow$40.2M-9.6%
CapEx$22.1M+1.5%
Free cash flow$18.0M-20.3%

Valuation

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Market cap$32.43B+48.3%
Enterprise value$31.58B+49.9%
P/S13×+1.0×

Profitability

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Gross margin42.9%
Operating margin-13%+0.6pp
Net margin-14.6%+0.6pp

Returns & leverage

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Return on equity-29%+4.1pp
Debt / equity0.1×0.0×
Current ratio-0.9×

Where this comes from

Calculated from Natera, Inc.’s reported figures.

Based on trailing twelve months.

The official record: Natera, Inc.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Natera, Inc.'s free cash flow margin?
Natera, Inc. (NTRA) reported free cash flow margin of 4.2% in Q1 2026.
How has Natera, Inc.'s free cash flow margin changed year-over-year?
Natera, Inc.'s free cash flow margin decreased by 10.2% year-over-year, from 4.7% to 4.2%.
What is the long-term trend for Natera, Inc.'s free cash flow margin?
Over 4 years (2021 to 2025), Natera, Inc.'s free cash flow margin has grown at a -46.0% compound annual growth rate (CAGR), from -231.9% to 19.7%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.