NTRA
Natera, Inc.
NTRA offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
UNH
UnitedHealth Group Incorporated
UNH has a slight edge over NTRA overall, supported by lower modeled downside and stronger modeled upside.
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.
UNH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Healthy |
UNH's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
NTRA PE Valuation
NTRA has no meaningful PE right now: it lost money over the past year.
UNH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $405 | — |
| Cheap | 19x | $325 | -20% |
| Fair | 23x | $410 | +1.2% |
| Current | 23x | $405 | — |
| Expensive | 30x | $526 | +30% |
Historical ranges are pointers, not guarantees.
UNH's PE is in its fair range at 23x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its cheap range.
NTRA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
NTRA has the edge over UNH on the outlook, with more favorable revenue expectations.
UNH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Moderate | |
| Low |
Analysts expect UNH's earnings to grow and its profitability to improve, with its revenue holding steady. 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.
UNH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $22.65 | +29% |
| Q3 2026 | $17.55 | -8.5% |
| Q2 2026 | $15.58 | -33% |
| Q1 2026 | $13.28 | -44% |
| Q4 2025 | $13.23 | -15% |
| Q3 2025 | $19.17 | +25% |
| Q2 2025 | $23.09 | +53% |
| Q1 2025 | $23.89 | +46% |
| Q4 2024 | $15.51 | -35% |
UNH 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 UNH 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.
UNH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $112.7B | -0.4% |
| Q2 2026 | $112B | +0.4% |
| Q1 2026 | $111.7B | +2% |
| Q4 2025 | $113.2B | +12% |
| Q3 2025 | $113.2B | +12% |
| Q2 2025 | $111.6B | +13% |
| Q1 2025 | $109.6B | +9.8% |
| Q4 2024 | $100.8B | +6.8% |
UNH's revenue has held roughly level: $113B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.8% | +2 points |
| Q2 2026 | 7.1% | +2.5 points |
| Q1 2026 | 8.1% | -0.3 points |
| Q4 2025 | 0.3% | -7.4 points |
| Q3 2025 | 3.8% | -4.8 points |
| Q2 2025 | 4.6% | -3.4 points |
| Q1 2025 | 8.3% | +0.4 points |
| Q4 2024 | 7.7% | -0.4 points |
UNH 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.
UNH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.3B | -16% |
| Q2 2026 | $10.3B | +63% |
| Q1 2026 | $8.1B | +79% |
| Q4 2025 | $160M | -89% |
| Q3 2025 | $5.1B | -61% |
| Q2 2025 | $6.3B | +6.9% |
| Q1 2025 | $4.6B | +1037% |
| Q4 2024 | $1.5B | +$7.6B |
UNH still generates free cash flow, though less than at its 2022 peak: $22.8B 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.
UNH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -4M shares |
| 1 year | -0.7% | -6M shares |
| 3 years | -3.6% | -34M shares |
| 5 years | -5.5% | -53M shares |
| Available history | -6.6% | -64M shares |
UNH has the edge over NTRA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.4B |
| Q2 2026 | $1.6B |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $2.5B |
| Q1 2025 | $3B |
| Q4 2024 | $5B |
UNH spent $5B buying back its own shares over the past year, down 52% 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.
UNH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 1.4x | Healthy |
UNH's net debt is about 1.7 years of its operating earnings (EBITDA), about the same as a year ago.
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).
UNH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 60.0 | Neutral |
UNH's weekly RSI is 56 (neutral) and its Stochastic is 60 (neutral).
NTRA PE vs Healthcare Sector
NTRA has no meaningful PE right now: it lost money over the past year.
UNH PE vs Healthcare Sector
| Metric | UNH | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 26x | 11% below |
| PE % | 47 | 29 | 18 pts above |
UNH is trading at 23x earnings, a 11% discount to the Healthcare sector's median of 26x.
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 pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 120% above its 200-week average.
UNH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $394.2 | 2.8% above |
| 20 week MA | $400.5 | 1.2% above |
| 50 week MA | $361.2 | 12% above |
| 100 week MA | $376.0 | 7.8% above |
| 200 week MA | $446.6 | 9.3% below |
UNH has the edge over NTRA on trend strength, trading above more of its moving averages.
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 UNH on returns for 2026, with the stronger performance.
UNH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $296.0 | $340.8 | +15% |
| 2021 | $340.8 | $495.4 | +45% |
| 2022 | $495.4 | $531.3 | +7.3% |
| 2023 | $531.3 | $526.5 | -0.9% |
| 2024 | $526.5 | $510.0 | -3.1% |
| 2025 | $510.0 | $331.8 | -35% |
| 2026 YTD | $331.8 | $405.1 | +22% |
UNH has finished three years in a row lower, and it's up 22% so far in 2026.