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Side-by-side financial comparison of Axos Financial, Inc. (AX) 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 $392.2M, roughly 1.7× Axos Financial, Inc.). Axos Financial, Inc. runs the higher net margin — 31.8% vs 7.1%, a 24.7% gap on every dollar of revenue. Over the past eight quarters, Natera, Inc.'s revenue compounded faster (34.5% CAGR vs 16.1%).
Axos Financial is an American bank holding company based in Las Vegas, Nevada and is the parent of Axos Bank, a direct bank. It also offers registered investment adviser services and an electronic trading platform.
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...
AX vs NTRA — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $392.2M | $665.5M |
| Net Profit | $124.7M | $47.3M |
| Gross Margin | — | — |
| Operating Margin | — | -3.4% |
| Net Margin | 31.8% | 7.1% |
| Revenue YoY | — | 39.8% |
| Net Profit YoY | 18.5% | 187.9% |
| EPS (diluted) | $2.15 | $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 | $392.2M | — | ||
| Q4 25 | $385.1M | $665.5M | ||
| Q3 25 | $323.4M | $592.2M | ||
| Q2 25 | $321.4M | $546.6M | ||
| Q1 25 | $308.8M | $501.8M | ||
| Q4 24 | $307.9M | $476.1M | ||
| Q3 24 | $320.7M | $439.8M | ||
| Q2 24 | $290.9M | $413.4M |
| Q1 26 | $124.7M | — | ||
| Q4 25 | $128.4M | $47.3M | ||
| Q3 25 | $112.4M | $-87.5M | ||
| Q2 25 | $110.7M | $-100.9M | ||
| Q1 25 | $105.2M | $-66.9M | ||
| Q4 24 | $104.7M | $-53.8M | ||
| Q3 24 | $112.3M | $-31.6M | ||
| Q2 24 | $104.9M | $-37.5M |
| Q1 26 | — | — | ||
| Q4 25 | 45.6% | -3.4% | ||
| Q3 25 | 46.3% | -16.5% | ||
| Q2 25 | 48.5% | -20.2% | ||
| Q1 25 | 47.9% | -15.8% | ||
| Q4 24 | 48.8% | -13.6% | ||
| Q3 24 | 49.6% | -8.9% | ||
| Q2 24 | 49.6% | -10.6% |
| Q1 26 | 31.8% | — | ||
| Q4 25 | 33.3% | 7.1% | ||
| Q3 25 | 34.7% | -14.8% | ||
| Q2 25 | 34.4% | -18.5% | ||
| Q1 25 | 34.1% | -13.3% | ||
| Q4 24 | 34.0% | -11.3% | ||
| Q3 24 | 35.0% | -7.2% | ||
| Q2 24 | 36.0% | -9.1% |
| Q1 26 | $2.15 | — | ||
| Q4 25 | $2.22 | $0.36 | ||
| Q3 25 | $1.94 | $-0.64 | ||
| Q2 25 | $1.89 | $-0.74 | ||
| Q1 25 | $1.81 | $-0.50 | ||
| Q4 24 | $1.80 | $-0.41 | ||
| Q3 24 | $1.93 | $-0.26 | ||
| Q2 24 | $1.75 | $-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 | — | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.1B | $1.7B |
| Total Assets | $29.2B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | — | ||
| Q3 25 | $2.6B | $1.0M | ||
| Q2 25 | $1.9B | $16.0M | ||
| Q1 25 | $2.0B | $17.8M | ||
| Q4 24 | $2.4B | $22.7M | ||
| Q3 24 | $2.6B | $29.5M | ||
| Q2 24 | $2.0B | $90.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $312.7M | — | ||
| Q1 25 | $377.4M | — | ||
| Q4 24 | $358.7M | — | ||
| Q3 24 | $313.5M | — | ||
| Q2 24 | $325.7M | — |
| Q1 26 | $3.1B | — | ||
| Q4 25 | $2.9B | $1.7B | ||
| Q3 25 | $2.8B | $1.3B | ||
| Q2 25 | $2.7B | $1.2B | ||
| Q1 25 | $2.6B | $1.2B | ||
| Q4 24 | $2.5B | $1.2B | ||
| Q3 24 | $2.4B | $878.5M | ||
| Q2 24 | $2.3B | $836.5M |
| Q1 26 | $29.2B | — | ||
| Q4 25 | $28.2B | $2.4B | ||
| Q3 25 | $27.4B | $1.8B | ||
| Q2 25 | $24.8B | $1.8B | ||
| Q1 25 | $24.0B | $1.7B | ||
| Q4 24 | $23.7B | $1.7B | ||
| Q3 24 | $23.6B | $1.6B | ||
| Q2 24 | $22.9B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | 0.14× | — |
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 | — | $73.9M |
| Free Cash FlowOCF − Capex | — | $37.8M |
| FCF MarginFCF / Revenue | — | 5.7% |
| Capex IntensityCapex / Revenue | — | 5.4% |
| Cash ConversionOCF / Net Profit | — | 1.56× |
| TTM Free Cash FlowTrailing 4 quarters | — | $109.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $104.1M | $73.9M | ||
| Q3 25 | $118.4M | $59.4M | ||
| Q2 25 | $490.3M | $37.6M | ||
| Q1 25 | $73.7M | $44.5M | ||
| Q4 24 | $162.5M | $52.9M | ||
| Q3 24 | $70.8M | $51.8M | ||
| Q2 24 | $305.5M | $4.0M |
| Q1 26 | — | — | ||
| Q4 25 | $85.4M | $37.8M | ||
| Q3 25 | $109.3M | $37.0M | ||
| Q2 25 | $436.1M | $11.7M | ||
| Q1 25 | $65.1M | $22.6M | ||
| Q4 24 | $156.4M | $34.8M | ||
| Q3 24 | $53.0M | $35.5M | ||
| Q2 24 | $269.5M | $-7.7M |
| Q1 26 | — | — | ||
| Q4 25 | 22.2% | 5.7% | ||
| Q3 25 | 33.8% | 6.2% | ||
| Q2 25 | 135.7% | 2.1% | ||
| Q1 25 | 21.1% | 4.5% | ||
| Q4 24 | 50.8% | 7.3% | ||
| Q3 24 | 16.5% | 8.1% | ||
| Q2 24 | 92.6% | -1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 4.9% | 5.4% | ||
| Q3 25 | 2.8% | 3.8% | ||
| Q2 25 | 16.9% | 4.7% | ||
| Q1 25 | 2.8% | 4.3% | ||
| Q4 24 | 2.0% | 3.8% | ||
| Q3 24 | 5.5% | 3.7% | ||
| Q2 24 | 12.4% | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | 0.81× | 1.56× | ||
| Q3 25 | 1.05× | — | ||
| Q2 25 | 4.43× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 1.55× | — | ||
| Q3 24 | 0.63× | — | ||
| Q2 24 | 2.91× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AX
| Net Interest Income | $306.3M | 78% |
| Noninterest Income | $86.0M | 22% |
NTRA
Segment breakdown not available.
