NATERA, INC. vs VERACYTE, INC., two Medical Diagnostics stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Both genomic-testing balance sheets are clean, Natera at 0.05 turns of debt, Veracyte at none with a 9.3 current ratio, so the pair isolates the income statements: Veracyte has finished the crossing, a 16.3% operating margin netting 16.3%, while Natera still spends through a negative 13.4% operating line at seven times the market value, $37B against $5B. Veracyte trades at 56 times its modest earnings; Natera has none to price. What the valuation gap says is that the market weighs franchise position, prenatal-screening dominance plus oncology reach, above demonstrated conversion by a factor the arithmetic cannot check. Proof at boutique scale faces promise at platform scale, and promise costs seven Veracytes.
Comparison updated 2026-07-10.
| Metric | NTRA | VCYT |
|---|---|---|
| Price | $260.64 | $60.46 |
| Market cap | $36.9B | $4.9B |
| Sector | Medical Diagnostics | Medical Diagnostics |
| Stage | Growth | Growth |
| P/E | — | 56.0 |
| P/B | 20.79 | 3.66 |
| P/S | 14.75 | 9.07 |
| EV/EBITDA | — | 56.1 |
| Revenue growth | +36.4% | +16.9% |
| Gross margin | — | 72.7% |
| Operating margin | -13.4% | 16.3% |
| Net margin | -9.1% | 16.3% |
| Return on equity | -12.8% | 6.5% |
| Return on assets | -8.7% | 6.1% |
| Return on invested capital | -13.8% | 5.5% |
| FCF yield | 0.3% | 3.2% |
| Debt / equity | 0.05 | 0.00 |
| Current ratio | 2.96 | 9.31 |
| Altman Z (solvency) | 5.81 | 6.48 |
| Piotroski F (quality) | 4 / 9 | 6 / 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.