LABCORP HOLDINGS INC. vs NATERA, INC., two Medical Diagnostics stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Labcorp earns 10.8% on equity and 4.9% on assets running the industrial side of diagnostics; Natera's returns are negative, 12.8% and 8.7% below zero, the accounting of a screening franchise still buying its dominance. The market has decided the buying is worth more than the earning: $37B for Natera against $23B for Labcorp, a 60% premium for the loss-maker. Labcorp's compensations are tangible, a 6.2% free-cash yield, a 1.1% dividend, 24.1 times earnings; Natera's are prospective, prenatal-screening leadership funding an oncology expansion. Both balance sheets are unremarkable in the good sense. Capital returns against capital promises: the promises currently trade at the premium.
Comparison updated 2026-07-10.
| Metric | LH | NTRA |
|---|---|---|
| Price | $271.48 | $260.64 |
| Market cap | $22.5B | $36.9B |
| Sector | Medical Diagnostics | Medical Diagnostics |
| Stage | Mature | Growth |
| Implied growth (priced in) | -1.3% | — |
| P/E | 24.1 | — |
| P/B | 2.58 | 20.79 |
| P/S | 1.59 | 14.75 |
| EV/EBITDA | 17.3 | — |
| Revenue growth | +7.4% | +36.4% |
| Gross margin | 28.7% | — |
| Operating margin | 10.8% | -13.4% |
| Net margin | 6.7% | -9.1% |
| Return on equity | 10.8% | -12.8% |
| Return on assets | 4.9% | -8.7% |
| Return on invested capital | 7.5% | -13.8% |
| FCF yield | 6.2% | 0.3% |
| Dividend yield | 1.1% | — |
| Debt / equity | 0.73 | 0.05 |
| Current ratio | 1.73 | 2.96 |
| Altman Z (solvency) | 2.88 | 5.81 |
| Piotroski F (quality) | 4 / 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.