NTRA
Natera, Inc.
NTRA has the edge over NVO overall, supported by stronger fundamentals and stronger modeled upside.
NVO
Novo Nordisk A/S
NVO has lower modeled downside risk, despite its lower overall score.
NTRA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
NTRA's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
NTRA PE Valuation
NTRA has no meaningful PE right now: it lost money over the past year.
NVO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 10x | $40.65 | — |
| Cheap | 14x | $53.56 | +32% |
| Fair | 27x | $103 | +154% |
| Expensive | 39x | $152 | +273% |
Historical ranges are pointers, not guarantees.
NVO's PE is 10x, but its earnings don't support one, so it isn't a reliable read right now.
NTRA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
NTRA has the edge over NVO on the outlook, with more favorable earnings and profitability expectations.
NVO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect NVO's revenue to grow, but its profitability to weaken. However, they disagree widely on these estimates.
NTRA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.13 | +$1.16 |
| Q2 2026 | -$1.35 | +$0.56 |
| Q1 2026 | -$1.62 | -$0.15 |
| Q4 2025 | -$1.52 | +$0.01 |
| Q3 2025 | -$2.29 | -$0.54 |
| Q2 2025 | -$1.91 | +$0.53 |
| Q1 2025 | -$1.47 | +$1.64 |
| Q4 2024 | -$1.53 | +$2.25 |
NTRA is still losing money, but far less than before: $1.13 per share over the past year, against $6.10 at its worst in mid-2022.
NVO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $3.89 | +4.9% |
| Q1 2026 | $4.07 | +17% |
| Q4 2025 | $3.42 | +1.8% |
| Q3 2025 | $3.47 | +10% |
| Q2 2025 | $3.71 | +24% |
| Q1 2025 | $3.49 | +18% |
| Q4 2024 | $3.36 | +21% |
| Q3 2024 | $3.15 | +27% |
NVO has the edge over NTRA on earnings quality, reporting a profit while its opponent remains loss making.
NTRA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $794M | +34% |
| Q2 2026 | $752.8M | +38% |
| Q1 2026 | $696.6M | +39% |
| Q4 2025 | $665.5M | +40% |
| Q3 2025 | $592.2M | +35% |
| Q2 2025 | $546.6M | +32% |
| Q1 2025 | $501.8M | +36% |
| Q4 2024 | $476.1M | +53% |
NTRA has the edge over NVO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -8.6% | +7.9 points |
| Q2 2026 | -10% | +10 points |
| Q1 2026 | -13% | +2.4 points |
| Q4 2025 | -3.4% | +10 points |
| Q3 2025 | -16% | -7.5 points |
| Q2 2025 | -20% | -9.6 points |
| Q1 2025 | -16% | +4.4 points |
| Q4 2024 | -14% | +14 points |
NTRA's operating margin was −8.6% last quarter, up 7.9 points from the same quarter a year ago, near the top of its range since 2019.
NVO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $11.7B | +2.1% |
| Q1 2026 | $14.4B | +24% |
| Q4 2025 | $11.8B | -7.6% |
| Q3 2025 | $11.1B | +5.1% |
| Q2 2025 | $11.4B | +13% |
| Q1 2025 | $11.6B | +19% |
| Q4 2024 | $12.7B | +30% |
| Q3 2024 | $10.6B | +21% |
NVO's revenue is growing: $11.7B last quarter, up 2.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 34% | -9 points |
| Q1 2026 | 62% | +12 points |
| Q4 2025 | 40% | -2.8 points |
| Q3 2025 | 32% | -16 points |
| Q2 2025 | 44% | +5.4 points |
| Q1 2025 | 50% | +1 points |
| Q4 2024 | 43% | +2.2 points |
| Q3 2024 | 47% | +1.6 points |
NVO has the edge over NTRA on profitability, with a higher operating margin.
NTRA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $5.3M | -86% |
| Q2 2026 | -$8.6M | -174% |
| Q1 2026 | $18M | -20% |
| Q4 2025 | $37.8M | +8.8% |
| Q3 2025 | $37M | +4.3% |
| Q2 2025 | $11.7M | +$19.4M |
| Q1 2025 | $22.6M | +239% |
| Q4 2024 | $34.8M | +$102.4M |
NTRA has burned cash in most quarters: $52M over the past year, down 51% from the year before.
NVO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $6.3B | +73% |
| Q1 2026 | $1.8B | +20% |
| Q4 2025 | -$5.4B | -$4.7B |
| Q3 2025 | $4.6B | -2.1% |
| Q2 2025 | $3.6B | -34% |
| Q1 2025 | $1.5B | +89% |
| Q4 2024 | -$632.6M | +$390.5M |
| Q3 2024 | $4.7B | +3.3% |
NVO still generates free cash flow, though less than at its 2026 peak: $7.3B over the past year.
NTRA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +788K shares |
| 1 year | +5% | +6.9M shares |
| 3 years | +25% | +28.9M shares |
| 5 years | +56% | +51.5M shares |
| Available history | +107% | +74.5M shares |
NTRA has 144M diluted shares, up 5% from a year ago.
NVO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -12.9M shares |
| 1 year | -0.2% | -11M shares |
| 3 years | -1.5% | -66.8M shares |
| 5 years | -3.8% | -177M shares |
| Available history | -6.5% | -311M shares |
NVO has the edge over NTRA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $520M |
| Q1 2026 | $356.7M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $206.3M |
| Q4 2024 | $1.1B |
| Q3 2024 | $357.4M |
NVO spent $877M buying back its own shares over the past year, down 48% from the year before.
NTRA Net Leverage
NTRA's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
NVO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.5x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.6x | Very low |
| Q3 2024 | -0.0x | Very low |
NVO's net debt is less than a year of its operating earnings (EBITDA).
NTRA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.8 | Neutral |
| Stochastic | 43.5 | Neutral |
NTRA's weekly RSI is 51 (neutral) and its Stochastic is 44 (neutral).
NVO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 27.0 | Neutral |
NVO's weekly RSI is 43 (neutral) and its Stochastic is 27 (neutral).
NTRA PE vs Healthcare Sector
NTRA has no meaningful PE right now: it lost money over the past year.
NVO PE vs Healthcare Sector
| Metric | NVO | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 26x | 60% below |
| PE % | 6 | 29 | 23 pts below |
NVO is trading at 10x earnings, a 60% discount to the Healthcare sector's median of 26x, though its earnings don't support one.
NTRA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $383.6 | 16% below |
| 20 week MA | $336.8 | 4.1% below |
| 50 week MA | $263.7 | 22% above |
| 100 week MA | $214.8 | 50% above |
| 200 week MA | $147.1 | 120% above |
NTRA has the edge over NVO on trend strength, trading above more of its moving averages.
NVO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $39.2 | 3.7% above |
| 20 week MA | $43.9 | 7.4% below |
| 50 week MA | $45.3 | 10% below |
| 100 week MA | $56.3 | 28% below |
| 200 week MA | $80.7 | 50% below |
NVO has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 50% below its 200-week average.
NTRA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $33.7 | $111.7 | +232% |
| 2021 | $111.7 | $93.8 | -16% |
| 2022 | $93.8 | $41.5 | -56% |
| 2023 | $41.5 | $62.6 | +51% |
| 2024 | $62.6 | $160.3 | +156% |
| 2025 | $160.3 | $233.7 | +46% |
| 2026 YTD | $233.7 | $322.9 | +38% |
NTRA has the edge over NVO on returns for 2026, with the stronger performance.
NVO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.1 | $34.7 | +19% |
| 2021 | $34.7 | $54.2 | +56% |
| 2022 | $54.2 | $67.0 | +24% |
| 2023 | $67.0 | $103.5 | +54% |
| 2024 | $103.5 | $87.4 | -16% |
| 2025 | $87.4 | $52.4 | -40% |
| 2026 YTD | $52.4 | $40.7 | -22% |
NVO has finished higher in four of the last six years, two of them by more than 50%. It's down 22% so far in 2026.