Natera (NTRA) Operating Margin (2014 - 2026)
Natera's Operating Margin was -10.07% in Q2 2026, up 10.12 percentage points from -20.19% a year earlier and up 3.36 percentage points from the prior quarter.
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Analysis
Natera (NTRA) Operating Margin (2014 - 2026) Analysis & Trends
On a trailing twelve-month basis, Natera's Operating Margin was -10.70% through Jun 30, 2026, up 4.25 percentage points year-over-year; for FY2025, it came in at -13.44%, down 0.34 percentage points from FY2024.
- Operating Margin shows a five-year change of +41.87 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was -13.10% in FY2024 (+28.12 pp), -41.22% in FY2023 (+24.74 pp), -65.96% in FY2022 (+8.89 pp) and -74.85% in FY2021 (-19.54 pp).
- Quarterly Operating Margin has moved between -94.99% (Q3 2021) and -3.42% (Q4 2025) over five years.
- Compared with a year earlier, Operating Margin has increased for three straight quarters, with an average year-over-year change of +7.00 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was Q3 2022 (a gain of 38.47 percentage points); the worst was Q3 2021 (a drop of 38.16 percentage points).
- Per Business Quant data, NTRA's Operating Margin in the three quarters before Q2 2026 was -13.42% (Q1 2026), -3.42% (Q4 2025) and -16.48% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 103.25 Bn | 99.26 Bn | - | - |
| 2 | Natera | 56.95 Bn | 52.63 Bn | 485.19 Mn | -10.07% |
| 3 | Labcorp Holdings | 26.02 Bn | 23.76 Bn | 1.11 Bn | 12.10% |
| 4 | Quest Diagnostics | 25.98 Bn | 24.11 Bn | 1.03 Bn | 15.08% |
| 5 | Tenet Healthcare | 22.79 Bn | 11.79 Bn | - | 26.67% |
| 6 | Guardant Health | 21.61 Bn | 17.68 Bn | 219.03 Mn | -38.55% |
| 7 | BrightSpring Health Services | 12.99 Bn | 11.32 Bn | 492.75 Mn | 3.37% |
| 8 | Fresenius Medical Care AG | 12.45 Bn | 4.40 Bn | 1.52 Bn | 9.58% |
| 9 | Encompass Health | 12.43 Bn | 12.09 Bn | - | - |
| 10 | Tempus AI | 12.39 Bn | 9.42 Bn | 246.50 Mn | -19.85% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -10.07% |
| Mar 31, 2026 | -13.42% |
| Dec 31, 2025 | -3.42% |
| Sep 30, 2025 | -16.48% |
| Jun 30, 2025 | -20.19% |
| Mar 31, 2025 | -15.78% |
| Dec 31, 2024 | -13.60% |
| Sep 30, 2024 | -8.95% |
| Jun 30, 2024 | -10.62% |
| Mar 31, 2024 | -20.21% |
| Dec 31, 2023 | -27.17% |
| Sep 30, 2023 | -41.36% |
| Jun 30, 2023 | -43.01% |
| Mar 31, 2023 | -57.21% |
| Dec 31, 2022 | -65.26% |
| Sep 30, 2022 | -56.52% |
| Jun 30, 2022 | -72.19% |
| Mar 31, 2022 | -70.64% |
| Dec 31, 2021 | -80.72% |
| Sep 30, 2021 | -94.99% |
API Access
Natera Operating 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=operating-margin&ticker=NTRA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=NTRA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();