Natera (NTRA) Gross Margin (2014 - 2026)
Natera (NTRA) reported Gross Margin of 64.46% for Q2 2026, up 1.04 percentage points from 63.41% a year earlier but down 0.26 percentage points from the prior quarter.
Natera (NTRA) Gross Margin (2014 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Natera's Gross Margin came in at 63.21%, up 2.56 percentage points year-over-year; for FY2025, it was 62.38%, up 4.64 percentage points from FY2024.
- Gross Margin has increased for three consecutive years, with a five-year change of +17.85 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 57.73% in FY2024 (+16.11 pp), 41.62% in FY2023 (+1.63 pp), 39.99% in FY2022 (-5.59 pp) and 45.58% in FY2021 (+1.05 pp).
- Five-year quarterly Gross Margin spans a low of 24.84% in Q4 2022 and a high of 64.91% in Q3 2025.
- Year over year, Gross Margin has now increased in each of the last 13 quarters, with an average year-over-year change of +6.79 percentage points over the last eight quarters.
- The high point for year-over-year Gross Margin in five years was Q1 2024 (a gain of 18.00 percentage points); the low point was Q1 2022 (a drop of 9.30 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 64.71% (Q1 2026), 58.71% (Q4 2025) and 64.91% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 103.44 Bn | 99.45 Bn | - | - |
| 2 | Natera | 57.11 Bn | 52.79 Bn | 485.19 Mn | 64.46% |
| 3 | Labcorp Holdings | 26.06 Bn | 23.80 Bn | 1.11 Bn | 29.80% |
| 4 | Quest Diagnostics | 26.00 Bn | 24.13 Bn | 1.03 Bn | 33.75% |
| 5 | Tenet Healthcare | 22.68 Bn | 11.68 Bn | - | - |
| 6 | Guardant Health | 21.65 Bn | 17.71 Bn | 219.03 Mn | 65.39% |
| 7 | BrightSpring Health Services | 12.99 Bn | 11.32 Bn | 492.75 Mn | 12.72% |
| 8 | Fresenius Medical Care AG | 12.48 Bn | 4.43 Bn | 1.52 Bn | 26.95% |
| 9 | Encompass Health | 12.45 Bn | 12.11 Bn | - | - |
| 10 | Tempus AI | 12.38 Bn | 9.41 Bn | 246.50 Mn | 64.45% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 64.46% |
| Mar 31, 2026 | 64.71% |
| Dec 31, 2025 | 58.71% |
| Sep 30, 2025 | 64.91% |
| Jun 30, 2025 | 63.41% |
| Mar 31, 2025 | 63.12% |
| Dec 31, 2024 | 53.80% |
| Sep 30, 2024 | 61.79% |
| Jun 30, 2024 | 58.83% |
| Mar 31, 2024 | 56.72% |
| Dec 31, 2023 | 37.82% |
| Sep 30, 2023 | 45.10% |
| Jun 30, 2023 | 45.24% |
| Mar 31, 2023 | 38.73% |
| Dec 31, 2022 | 24.84% |
| Sep 30, 2022 | 44.69% |
| Jun 30, 2022 | 44.89% |
| Mar 31, 2022 | 46.83% |
| Dec 31, 2021 | 32.89% |
| Sep 30, 2021 | 48.54% |
Natera Gross 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=gross-margin&ticker=NTRA&period=max&api_key=YOUR_API_KEY
import requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=NTRA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();