QUEST DIAGNOSTICS INC vs NATERA, INC., two Medical Diagnostics stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The growth premium here is $14B: Natera's $37B valuation against Quest's $23B, the molecular-screening franchise priced 60% above the routine-testing giant while running a negative 9.1% net margin against Quest's positive 9.1%, a symmetry too neat to invent. Quest supports its price the traditional way, 23.2 times earnings, a 5.6% free-cash yield, a dividend, near-zero leverage; Natera supports its with prenatal-screening dominance and an oncology pipeline, at the cost of every current profitability line. Both balance sheets are clean. Natera's price values its future above Quest's present and future combined; whether that is vision or vertigo is exactly what the next few income statements will say.
Comparison updated 2026-07-10.
| Metric | DGX | NTRA |
|---|---|---|
| Price | $209.79 | $260.64 |
| Market cap | $23.5B | $36.9B |
| Sector | Medical Diagnostics | Medical Diagnostics |
| Stage | Mature | Growth |
| Implied growth (priced in) | -3.3% | — |
| P/E | 23.2 | — |
| P/B | 3.07 | 20.79 |
| P/S | 2.08 | 14.75 |
| EV/EBITDA | 10.8 | — |
| Revenue growth | +11.2% | +36.4% |
| Operating margin | 13.8% | -13.4% |
| Net margin | 9.1% | -9.1% |
| Return on equity | 13.4% | -12.8% |
| Return on assets | 6.1% | -8.7% |
| Return on invested capital | 15.6% | -13.8% |
| FCF yield | 5.6% | 0.3% |
| Dividend yield | 0.9% | — |
| Debt / equity | 0.07 | 0.05 |
| Current ratio | 1.18 | 2.96 |
| Altman Z (solvency) | 7.64 | 5.81 |
| Piotroski F (quality) | 8 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.