vs
Side-by-side financial comparison of Clearwater Paper Corp (CLW) 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 $360.3M, roughly 1.8× Clearwater Paper Corp). Natera, Inc. runs the higher net margin — 7.1% vs -3.6%, a 10.7% gap on every dollar of revenue. On growth, Natera, Inc. posted the faster year-over-year revenue change (39.8% vs -4.7%). Over the past eight quarters, Natera, Inc.'s revenue compounded faster (34.5% CAGR vs 2.3%).
Clearwater Paper Corporation is an American pulp and paperboard manufacturer. The company was created on December 9, 2008, via a spin-off from Potlatch Corporation and is headquartered in Spokane, Washington.
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...
CLW vs NTRA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $360.3M | $665.5M |
| Net Profit | $-12.8M | $47.3M |
| Gross Margin | -0.2% | — |
| Operating Margin | — | -3.4% |
| Net Margin | -3.6% | 7.1% |
| Revenue YoY | -4.7% | 39.8% |
| Net Profit YoY | -103.2% | 187.9% |
| EPS (diluted) | — | $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 | $360.3M | — | ||
| Q4 25 | $386.4M | $665.5M | ||
| Q3 25 | $399.0M | $592.2M | ||
| Q2 25 | $391.8M | $546.6M | ||
| Q1 25 | $378.2M | $501.8M | ||
| Q4 24 | $387.1M | $476.1M | ||
| Q3 24 | $393.3M | $439.8M | ||
| Q2 24 | $344.4M | $413.4M |
| Q1 26 | $-12.8M | — | ||
| Q4 25 | $38.3M | $47.3M | ||
| Q3 25 | $-53.3M | $-87.5M | ||
| Q2 25 | $2.7M | $-100.9M | ||
| Q1 25 | $-6.3M | $-66.9M | ||
| Q4 24 | $199.1M | $-53.8M | ||
| Q3 24 | $5.8M | $-31.6M | ||
| Q2 24 | $-25.8M | $-37.5M |
| Q1 26 | -0.2% | — | ||
| Q4 25 | 4.5% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 11.0% | — | ||
| Q1 25 | 9.7% | — | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | 7.7% | — | ||
| Q2 24 | -0.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | -3.4% | ||
| Q3 25 | -13.9% | -16.5% | ||
| Q2 25 | 2.5% | -20.2% | ||
| Q1 25 | -1.1% | -15.8% | ||
| Q4 24 | -4.0% | -13.6% | ||
| Q3 24 | -0.3% | -8.9% | ||
| Q2 24 | -13.6% | -10.6% |
| Q1 26 | -3.6% | — | ||
| Q4 25 | 9.9% | 7.1% | ||
| Q3 25 | -13.4% | -14.8% | ||
| Q2 25 | 0.7% | -18.5% | ||
| Q1 25 | -1.7% | -13.3% | ||
| Q4 24 | 51.4% | -11.3% | ||
| Q3 24 | 1.5% | -7.2% | ||
| Q2 24 | -7.5% | -9.1% |
| Q1 26 | — | — | ||
| Q4 25 | $2.36 | $0.36 | ||
| Q3 25 | $-3.30 | $-0.64 | ||
| Q2 25 | $0.17 | $-0.74 | ||
| Q1 25 | $-0.38 | $-0.50 | ||
| Q4 24 | $11.87 | $-0.41 | ||
| Q3 24 | $0.35 | $-0.26 | ||
| Q2 24 | $-1.55 | $-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 | $36.5M | — |
| Total DebtLower is stronger | $361.1M | — |
| Stockholders' EquityBook value | $813.8M | $1.7B |
| Total Assets | $1.6B | $2.4B |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.5M | — | ||
| Q4 25 | $30.7M | — | ||
| Q3 25 | $34.4M | $1.0M | ||
| Q2 25 | $46.7M | $16.0M | ||
| Q1 25 | $44.0M | $17.8M | ||
| Q4 24 | $79.6M | $22.7M | ||
| Q3 24 | $35.5M | $29.5M | ||
| Q2 24 | $39.6M | $90.3M |
| Q1 26 | $361.1M | — | ||
| Q4 25 | $346.8M | — | ||
| Q3 25 | $337.0M | — | ||
| Q2 25 | $330.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $283.4M | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — |
| Q1 26 | $813.8M | — | ||
| Q4 25 | $825.3M | $1.7B | ||
| Q3 25 | $783.0M | $1.3B | ||
| Q2 25 | $836.8M | $1.2B | ||
| Q1 25 | $836.6M | $1.2B | ||
| Q4 24 | $854.6M | $1.2B | ||
| Q3 24 | $664.6M | $878.5M | ||
| Q2 24 | $658.6M | $836.5M |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $2.4B | ||
| Q3 25 | $1.6B | $1.8B | ||
| Q2 25 | $1.6B | $1.8B | ||
| Q1 25 | $1.6B | $1.7B | ||
| Q4 24 | $1.7B | $1.7B | ||
| Q3 24 | $2.5B | $1.6B | ||
| Q2 24 | $2.5B | $1.5B |
| Q1 26 | 0.44× | — | ||
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.39× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 1.73× | — | ||
| Q2 24 | 1.74× | — |
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 | $5.0M | $73.9M | ||
| Q3 25 | $34.0M | $59.4M | ||
| Q2 25 | $-28.2M | $37.6M | ||
| Q1 25 | $1.5M | $44.5M | ||
| Q4 24 | $-35.1M | $52.9M | ||
| Q3 24 | $16.2M | $51.8M | ||
| Q2 24 | $21.1M | $4.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-9.9M | $37.8M | ||
| Q3 25 | $15.7M | $37.0M | ||
| Q2 25 | $-51.1M | $11.7M | ||
| Q1 25 | $-31.2M | $22.6M | ||
| Q4 24 | $-68.1M | $34.8M | ||
| Q3 24 | $-30.8M | $35.5M | ||
| Q2 24 | $3.0M | $-7.7M |
| Q1 26 | — | — | ||
| Q4 25 | -2.6% | 5.7% | ||
| Q3 25 | 3.9% | 6.2% | ||
| Q2 25 | -13.0% | 2.1% | ||
| Q1 25 | -8.2% | 4.5% | ||
| Q4 24 | -17.6% | 7.3% | ||
| Q3 24 | -7.8% | 8.1% | ||
| Q2 24 | 0.9% | -1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 5.4% | ||
| Q3 25 | 4.6% | 3.8% | ||
| Q2 25 | 5.8% | 4.7% | ||
| Q1 25 | 8.6% | 4.3% | ||
| Q4 24 | 8.5% | 3.8% | ||
| Q3 24 | 12.0% | 3.7% | ||
| Q2 24 | 5.3% | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | 1.56× | ||
| Q3 25 | — | — | ||
| Q2 25 | -10.44× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.18× | — | ||
| Q3 24 | 2.79× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
