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Side-by-side financial comparison of Essex Property Trust (ESS) 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 $479.6M, roughly 1.4× Essex Property Trust). Essex Property Trust runs the higher net margin — 17.9% vs 7.1%, a 10.8% gap on every dollar of revenue. On growth, Natera, Inc. posted the faster year-over-year revenue change (39.8% vs 5.5%). Over the past eight quarters, Natera, Inc.'s revenue compounded faster (34.5% CAGR vs 6.0%).
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
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...
ESS vs NTRA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $479.6M | $665.5M |
| Net Profit | $85.7M | $47.3M |
| Gross Margin | 70.0% | — |
| Operating Margin | 31.7% | -3.4% |
| Net Margin | 17.9% | 7.1% |
| Revenue YoY | 5.5% | 39.8% |
| Net Profit YoY | -71.6% | 187.9% |
| EPS (diluted) | $1.24 | $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.
| Q4 25 | $479.6M | $665.5M | ||
| Q3 25 | $473.3M | $592.2M | ||
| Q2 25 | $469.8M | $546.6M | ||
| Q1 25 | $464.6M | $501.8M | ||
| Q4 24 | $454.5M | $476.1M | ||
| Q3 24 | $450.7M | $439.8M | ||
| Q2 24 | $442.4M | $413.4M | ||
| Q1 24 | $426.9M | $367.7M |
| Q4 25 | $85.7M | $47.3M | ||
| Q3 25 | $172.7M | $-87.5M | ||
| Q2 25 | $231.5M | $-100.9M | ||
| Q1 25 | $212.8M | $-66.9M | ||
| Q4 24 | $301.7M | $-53.8M | ||
| Q3 24 | $125.5M | $-31.6M | ||
| Q2 24 | $99.0M | $-37.5M | ||
| Q1 24 | $285.1M | $-67.6M |
| Q4 25 | 70.0% | — | ||
| Q3 25 | 69.2% | — | ||
| Q2 25 | 70.7% | — | ||
| Q1 25 | 69.6% | — | ||
| Q4 24 | 70.0% | — | ||
| Q3 24 | 69.5% | — | ||
| Q2 24 | 70.8% | — | ||
| Q1 24 | 69.7% | — |
| Q4 25 | 31.7% | -3.4% | ||
| Q3 25 | 44.5% | -16.5% | ||
| Q2 25 | 59.5% | -20.2% | ||
| Q1 25 | 55.3% | -15.8% | ||
| Q4 24 | 67.0% | -13.6% | ||
| Q3 24 | 28.6% | -8.9% | ||
| Q2 24 | 31.1% | -10.6% | ||
| Q1 24 | 31.0% | -20.2% |
| Q4 25 | 17.9% | 7.1% | ||
| Q3 25 | 36.5% | -14.8% | ||
| Q2 25 | 49.3% | -18.5% | ||
| Q1 25 | 45.8% | -13.3% | ||
| Q4 24 | 66.4% | -11.3% | ||
| Q3 24 | 27.8% | -7.2% | ||
| Q2 24 | 22.4% | -9.1% | ||
| Q1 24 | 66.8% | -18.4% |
| Q4 25 | $1.24 | $0.36 | ||
| Q3 25 | $2.56 | $-0.64 | ||
| Q2 25 | $3.44 | $-0.74 | ||
| Q1 25 | $3.16 | $-0.50 | ||
| Q4 24 | $4.00 | $-0.41 | ||
| Q3 24 | $1.84 | $-0.26 | ||
| Q2 24 | $1.45 | $-0.30 | ||
| Q1 24 | $4.25 | $-0.56 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $76.2M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.5B | $1.7B |
| Total Assets | $13.2B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $76.2M | — | ||
| Q3 25 | $66.0M | $1.0M | ||
| Q2 25 | $58.7M | $16.0M | ||
| Q1 25 | $98.7M | $17.8M | ||
| Q4 24 | $66.8M | $22.7M | ||
| Q3 24 | $71.3M | $29.5M | ||
| Q2 24 | $55.2M | $90.3M | ||
| Q1 24 | $499.0M | $69.1M |
| Q4 25 | — | — | ||
| Q3 25 | $6.4B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.6B | — |
| Q4 25 | $5.5B | $1.7B | ||
| Q3 25 | $5.6B | $1.3B | ||
| Q2 25 | $5.6B | $1.2B | ||
| Q1 25 | $5.6B | $1.2B | ||
| Q4 24 | $5.5B | $1.2B | ||
| Q3 24 | $5.4B | $878.5M | ||
| Q2 24 | $5.5B | $836.5M | ||
| Q1 24 | $5.5B | $794.1M |
| Q4 25 | $13.2B | $2.4B | ||
| Q3 25 | $13.2B | $1.8B | ||
| Q2 25 | $13.2B | $1.8B | ||
| Q1 25 | $13.2B | $1.7B | ||
| Q4 24 | $12.9B | $1.7B | ||
| Q3 24 | $12.6B | $1.6B | ||
| Q2 24 | $12.5B | $1.5B | ||
| Q1 24 | $12.9B | $1.5B |
| Q4 25 | — | — | ||
| Q3 25 | 1.15× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.18× | — | ||
| Q2 24 | 1.13× | — | ||
| Q1 24 | 1.19× | — |
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 | $1.1B | $73.9M |
| Free Cash FlowOCF − Capex | — | $37.8M |
| FCF MarginFCF / Revenue | — | 5.7% |
| Capex IntensityCapex / Revenue | — | 5.4% |
| Cash ConversionOCF / Net Profit | 12.53× | 1.56× |
| TTM Free Cash FlowTrailing 4 quarters | — | $109.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $73.9M | ||
| Q3 25 | $342.6M | $59.4M | ||
| Q2 25 | $216.1M | $37.6M | ||
| Q1 25 | $281.5M | $44.5M | ||
| Q4 24 | $1.1B | $52.9M | ||
| Q3 24 | $316.2M | $51.8M | ||
| Q2 24 | $218.9M | $4.0M | ||
| Q1 24 | $314.9M | $27.0M |
| Q4 25 | — | $37.8M | ||
| Q3 25 | — | $37.0M | ||
| Q2 25 | — | $11.7M | ||
| Q1 25 | — | $22.6M | ||
| Q4 24 | — | $34.8M | ||
| Q3 24 | — | $35.5M | ||
| Q2 24 | — | $-7.7M | ||
| Q1 24 | — | $6.7M |
| Q4 25 | — | 5.7% | ||
| Q3 25 | — | 6.2% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | — | 4.5% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 8.1% | ||
| Q2 24 | — | -1.9% | ||
| Q1 24 | — | 1.8% |
| Q4 25 | — | 5.4% | ||
| Q3 25 | — | 3.8% | ||
| Q2 25 | — | 4.7% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 3.8% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 5.5% |
| Q4 25 | 12.53× | 1.56× | ||
| Q3 25 | 1.98× | — | ||
| Q2 25 | 0.93× | — | ||
| Q1 25 | 1.32× | — | ||
| Q4 24 | 3.54× | — | ||
| Q3 24 | 2.52× | — | ||
| Q2 24 | 2.21× | — | ||
| Q1 24 | 1.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
