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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and Natera, Inc. (NTRA). Click either name above to swap in a different company.
Natera, Inc. is the larger business by last-quarter revenue ($665.5M vs $351.4M, roughly 1.9× APOGEE ENTERPRISES, INC.). Natera, Inc. runs the higher net margin — 7.1% vs 4.7%, a 2.4% gap on every dollar of revenue. On growth, Natera, Inc. posted the faster year-over-year revenue change (39.8% vs 1.6%). Over the past eight quarters, Natera, Inc.'s revenue compounded faster (34.5% CAGR vs 2.9%).
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
Natera, Inc. is a clinical genetic testing company based in Austin, Texas that specializes in non-invasive, cell-free DNA (cfDNA) testing technology, with a focus on women’s health, cancer, and organ health. Natera’s proprietary technology combines novel molecular biology techniques with a suite of bioinformatics software that allows detection down to a single molecule in a tube of blood. Natera operates CAP-accredited laboratories certified under the Clinical Laboratory Improvement Amendment...
APOG vs NTRA — Head-to-Head
Income Statement — Q4 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $351.4M | $665.5M |
| Net Profit | $16.6M | $47.3M |
| Gross Margin | 22.4% | — |
| Operating Margin | 7.3% | -3.4% |
| Net Margin | 4.7% | 7.1% |
| Revenue YoY | 1.6% | 39.8% |
| Net Profit YoY | 568.8% | 187.9% |
| EPS (diluted) | $0.78 | $0.36 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $351.4M | — | ||
| Q4 25 | $348.6M | $665.5M | ||
| Q3 25 | $358.2M | $592.2M | ||
| Q2 25 | $346.6M | $546.6M | ||
| Q1 25 | $345.7M | $501.8M | ||
| Q4 24 | $341.3M | $476.1M | ||
| Q3 24 | $342.4M | $439.8M | ||
| Q2 24 | $331.5M | $413.4M |
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | $47.3M | ||
| Q3 25 | $23.6M | $-87.5M | ||
| Q2 25 | $-2.7M | $-100.9M | ||
| Q1 25 | $2.5M | $-66.9M | ||
| Q4 24 | $21.0M | $-53.8M | ||
| Q3 24 | $30.6M | $-31.6M | ||
| Q2 24 | $31.0M | $-37.5M |
| Q1 26 | 22.4% | — | ||
| Q4 25 | 23.8% | — | ||
| Q3 25 | 23.1% | — | ||
| Q2 25 | 21.7% | — | ||
| Q1 25 | 21.6% | — | ||
| Q4 24 | 26.1% | — | ||
| Q3 24 | 28.4% | — | ||
| Q2 24 | 29.8% | — |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.1% | -3.4% | ||
| Q3 25 | 7.5% | -16.5% | ||
| Q2 25 | 2.0% | -20.2% | ||
| Q1 25 | 1.8% | -15.8% | ||
| Q4 24 | 8.4% | -13.6% | ||
| Q3 24 | 12.3% | -8.9% | ||
| Q2 24 | 12.5% | -10.6% |
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | 7.1% | ||
| Q3 25 | 6.6% | -14.8% | ||
| Q2 25 | -0.8% | -18.5% | ||
| Q1 25 | 0.7% | -13.3% | ||
| Q4 24 | 6.1% | -11.3% | ||
| Q3 24 | 8.9% | -7.2% | ||
| Q2 24 | 9.4% | -9.1% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | $0.36 | ||
| Q3 25 | $1.10 | $-0.64 | ||
| Q2 25 | $-0.13 | $-0.74 | ||
| Q1 25 | $0.12 | $-0.50 | ||
| Q4 24 | $0.96 | $-0.41 | ||
| Q3 24 | $1.40 | $-0.26 | ||
| Q2 24 | $1.41 | $-0.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $39.5M | — |
| Total DebtLower is stronger | $232.3M | — |
| Stockholders' EquityBook value | $511.8M | $1.7B |
| Total Assets | $1.1B | $2.4B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | — | ||
| Q3 25 | $39.5M | $1.0M | ||
| Q2 25 | $32.8M | $16.0M | ||
| Q1 25 | $41.4M | $17.8M | ||
| Q4 24 | $43.9M | $22.7M | ||
| Q3 24 | $51.0M | $29.5M | ||
| Q2 24 | $30.4M | $90.3M |
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $285.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $511.8M | — | ||
| Q4 25 | $512.3M | $1.7B | ||
| Q3 25 | $500.2M | $1.3B | ||
| Q2 25 | $481.8M | $1.2B | ||
| Q1 25 | $487.9M | $1.2B | ||
| Q4 24 | $522.1M | $1.2B | ||
| Q3 24 | $506.4M | $878.5M | ||
| Q2 24 | $480.0M | $836.5M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $2.4B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.2B | $1.8B | ||
| Q1 25 | $1.2B | $1.7B | ||
| Q4 24 | $1.2B | $1.7B | ||
| Q3 24 | $917.1M | $1.6B | ||
| Q2 24 | $889.0M | $1.5B |
| Q1 26 | 0.45× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $122.5M | $73.9M |
| Free Cash FlowOCF − Capex | — | $37.8M |
| FCF MarginFCF / Revenue | — | 5.7% |
| Capex IntensityCapex / Revenue | 7.8% | 5.4% |
| Cash ConversionOCF / Net Profit | 7.37× | 1.56× |
| TTM Free Cash FlowTrailing 4 quarters | — | $109.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | $73.9M | ||
| Q3 25 | $57.1M | $59.4M | ||
| Q2 25 | $-19.8M | $37.6M | ||
| Q1 25 | $30.0M | $44.5M | ||
| Q4 24 | $31.0M | $52.9M | ||
| Q3 24 | $58.7M | $51.8M | ||
| Q2 24 | $5.5M | $4.0M |
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $37.8M | ||
| Q3 25 | $52.4M | $37.0M | ||
| Q2 25 | $-26.9M | $11.7M | ||
| Q1 25 | $19.1M | $22.6M | ||
| Q4 24 | $22.0M | $34.8M | ||
| Q3 24 | $50.2M | $35.5M | ||
| Q2 24 | $-1.8M | $-7.7M |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 5.7% | ||
| Q3 25 | 14.6% | 6.2% | ||
| Q2 25 | -7.8% | 2.1% | ||
| Q1 25 | 5.5% | 4.5% | ||
| Q4 24 | 6.4% | 7.3% | ||
| Q3 24 | 14.7% | 8.1% | ||
| Q2 24 | -0.5% | -1.9% |
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 5.4% | ||
| Q3 25 | 1.3% | 3.8% | ||
| Q2 25 | 2.1% | 4.7% | ||
| Q1 25 | 3.2% | 4.3% | ||
| Q4 24 | 2.6% | 3.8% | ||
| Q3 24 | 2.5% | 3.7% | ||
| Q2 24 | 2.2% | 2.8% |
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | 1.56× | ||
| Q3 25 | 2.41× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 12.08× | — | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 1.92× | — | ||
| Q2 24 | 0.18× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APOG
| Architectural Services | $127.1M | 36% |
| Architectural Metals | $110.0M | 31% |
| Architectural Glass | $67.4M | 19% |
| Performance Surfaces | $54.3M | 15% |
NTRA
Segment breakdown not available.
