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Natera Valuation Multiples

Discover revenue and EBITDA valuation multiples for Natera and similar public comparables like Genus, 4basebio, and ToolGen.

Natera Overview

About Natera

Natera Inc is a diagnostic and research company with proprietary molecular and bioinformatics technology. The company's key product offerings include its Panorama Non-Invasive Prenatal Test (NIPT) which screens for chromosomal abnormalities of a fetus as well as in twin pregnancies, typically with a blood draw from the mother, Horizon Carrier Screening (HCS) to determine carrier status for a large number of severe genetic diseases that could be passed on to the carrier’s children, Signatera molecular residual disease (MRD) test, which detects circulating tumor DNA in patients previously diagnosed with cancer to assess molecular residual disease and monitor for recurrence; and Prospera, to assess organ transplant rejection.


Founded

2007

HQ

United States of America
Employees

4.4K+

Website

natera.com

Financials

LTM Revenue $1.8B

LTM EBITDA -$243M

EV

$20.7B

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Natera Financials

Natera has a last 12-month revenue (LTM) of $1.8B and a last 12-month EBITDA of -$243M.

In the most recent fiscal year, Natera achieved revenue of $1.7B and an EBITDA of -$148M.

Natera expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Natera P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $1.8B XXX $1.7B XXX XXX XXX
Gross Profit $1.1B XXX $1.0B XXX XXX XXX
Gross Margin 61% XXX 60% XXX XXX XXX
EBITDA -$243M XXX -$148M XXX XXX XXX
EBITDA Margin -13% XXX -9% XXX XXX XXX
EBIT -$274M XXX -$222M XXX XXX XXX
EBIT Margin -15% XXX -13% XXX XXX XXX
Net Profit -$238M XXX -$190M XXX XXX XXX
Net Margin -13% XXX -11% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

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Natera Stock Performance

As of May 30, 2025, Natera's stock price is $158.

Natera has current market cap of $21.5B, and EV of $20.7B.

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Natera Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$20.7B $21.5B XXX XXX XXX XXX $-1.80

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Natera Valuation Multiples

As of May 30, 2025, Natera has market cap of $21.5B and EV of $20.7B.

Natera's trades at 12.2x EV/Revenue multiple, and -140.1x EV/EBITDA.

Equity research analysts estimate Natera's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Natera has a P/E ratio of -90.6x.

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Natera Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $21.5B XXX $21.5B XXX XXX XXX
EV (current) $20.7B XXX $20.7B XXX XXX XXX
EV/Revenue 11.4x XXX 12.2x XXX XXX XXX
EV/EBITDA -85.5x XXX -140.1x XXX XXX XXX
EV/EBIT -75.6x XXX -93.3x XXX XXX XXX
EV/Gross Profit 18.6x XXX n/a XXX XXX XXX
P/E -90.6x XXX -113.1x XXX XXX XXX
EV/FCF -704.6x XXX 353.1x XXX XXX XXX

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Natera Margins & Growth Rates

Natera's last 12 month revenue growth is 17%

Natera's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.3M for the same period.

Natera's rule of 40 is -20% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Natera's rule of X is 29% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Natera Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 17% XXX 17% XXX XXX XXX
EBITDA Margin -13% XXX -9% XXX XXX XXX
EBITDA Growth -3% XXX n/a XXX XXX XXX
Rule of 40 -20% XXX 8% XXX XXX XXX
Bessemer Rule of X XXX XXX 29% XXX XXX XXX
Revenue per Employee XXX XXX $0.4M XXX XXX XXX
Opex per Employee XXX XXX $0.3M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 24% XXX XXX XXX
Opex to Revenue XXX XXX 73% XXX XXX XXX

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Natera Public Comps

See public comps and valuation multiples for Genomics & Personalized Medicine and Medical Imaging & Diagnostics comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
EZZ Life Science XXX XXX XXX XXX XXX XXX
Epigenomics XXX XXX XXX XXX XXX XXX
ToolGen XXX XXX XXX XXX XXX XXX
4basebio XXX XXX XXX XXX XXX XXX
Genus XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Natera M&A and Investment Activity

Natera acquired  XXX companies to date.

Last acquisition by Natera was  XXXXXXXX, XXXXX XXXXX XXXXXX . Natera acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Natera

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Natera

When was Natera founded? Natera was founded in 2007.
Where is Natera headquartered? Natera is headquartered in United States of America.
How many employees does Natera have? As of today, Natera has 4.4K+ employees.
Who is the CEO of Natera? Natera's CEO is Mr. Steven Leonard Chapman.
Is Natera publicy listed? Yes, Natera is a public company listed on NAS.
What is the stock symbol of Natera? Natera trades under NTRA ticker.
When did Natera go public? Natera went public in 2015.
Who are competitors of Natera? Similar companies to Natera include e.g. EZZ Life Science, Epigenomics, ToolGen, 4basebio.
What is the current market cap of Natera? Natera's current market cap is $21.5B
What is the current revenue of Natera? Natera's last 12 months revenue is $1.8B.
What is the current revenue growth of Natera? Natera revenue growth (NTM/LTM) is 17%.
What is the current EV/Revenue multiple of Natera? Current revenue multiple of Natera is 11.4x.
Is Natera profitable? Yes, Natera is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Natera? Natera's last 12 months EBITDA is -$243M.
What is Natera's EBITDA margin? Natera's last 12 months EBITDA margin is -13%.
What is the current EV/EBITDA multiple of Natera? Current EBITDA multiple of Natera is -85.5x.
What is the current FCF of Natera? Natera's last 12 months FCF is -$29.4M.
What is Natera's FCF margin? Natera's last 12 months FCF margin is -2%.
What is the current EV/FCF multiple of Natera? Current FCF multiple of Natera is -704.6x.

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