Natera (NTRA) FCF Margin (2014 - 2026)
Natera (NTRA) recorded FCF Margin of -1.15% in Q2 2026, down 3.28 percentage points from 2.14% a year earlier and down 3.74 percentage points from the prior quarter.
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Analysis
Natera (NTRA) FCF Margin (2014 - 2026) Analysis & Trends
On a TTM basis, Natera's FCF Margin came in at 3.11% as of Jun 30, 2026, down 2.21 percentage points year-over-year; for FY2025, it was 4.73%, up 0.65 percentage points from FY2024.
- Annual FCF Margin has increased for four straight years, with a five-year change of +56.42 percentage points (FY2020 to FY2025).
- Across earlier years, FCF Margin came in at 4.08% in FY2024 (+30.51 pp), -26.43% in FY2023 (+31.99 pp), -58.42% in FY2022 (+1.73 pp) and -60.16% in FY2021 (-8.46 pp).
- The Q2 2026 figure is the lowest quarterly FCF Margin since Q2 2024.
- On a year-over-year basis, FCF Margin has declined for four consecutive quarters, with an average year-over-year change of +6.20 percentage points over the last eight quarters.
- Peak year-over-year performance for FCF Margin in the last five years was a gain of 40.64 percentage points in Q1 2023, against a drop of 30.16 percentage points in Q3 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 2.59% (Q1 2026), 5.68% (Q4 2025) and 6.25% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 98.64 Bn | 98.22 Bn | - | 15.64% |
| 2 | Natera | 54.42 Bn | 50.10 Bn | 485.19 Mn | -1.15% |
| 3 | Labcorp Holdings | 28.77 Bn | 26.87 Bn | 1.11 Bn | 10.82% |
| 4 | Quest Diagnostics | 27.60 Bn | 25.68 Bn | 1.04 Bn | 14.37% |
| 5 | Guardant Health | 22.81 Bn | 18.87 Bn | 219.03 Mn | -20.76% |
| 6 | Tenet Healthcare | 21.39 Bn | 12.88 Bn | - | 19.23% |
| 7 | Tempus AI | 13.75 Bn | 10.78 Bn | 246.50 Mn | -3.57% |
| 8 | Encompass Health | 13.53 Bn | 14.00 Bn | - | 3.90% |
| 9 | BrightSpring Health Services | 13.09 Bn | 11.43 Bn | 492.75 Mn | 0.38% |
| 10 | Fresenius Medical Care AG | 12.64 Bn | 5.70 Bn | 1.52 Bn | 12.75% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -1.15% |
| Mar 31, 2026 | 2.59% |
| Dec 31, 2025 | 5.68% |
| Sep 30, 2025 | 6.25% |
| Jun 30, 2025 | 2.14% |
| Mar 31, 2025 | 4.51% |
| Dec 31, 2024 | 7.30% |
| Sep 30, 2024 | 10.45% |
| Jun 30, 2024 | -1.86% |
| Mar 31, 2024 | -1.04% |
| Dec 31, 2023 | -21.75% |
| Sep 30, 2023 | -14.41% |
| Jun 30, 2023 | -33.42% |
| Mar 31, 2023 | -38.26% |
| Dec 31, 2022 | -42.79% |
| Sep 30, 2022 | -54.34% |
| Jun 30, 2022 | -59.85% |
| Mar 31, 2022 | -78.90% |
| Dec 31, 2021 | -64.74% |
| Sep 30, 2021 | -68.60% |
API Access
Natera FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=NTRA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "NTRA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=NTRA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();