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Side-by-side financial comparison of F5, Inc. (FFIV) and Natera, Inc. (NTRA). Click either name above to swap in a different company.
F5, Inc. is the larger business by last-quarter revenue ($811.7M vs $665.5M, roughly 1.2× Natera, Inc.). F5, Inc. runs the higher net margin — 18.2% vs 7.1%, a 11.1% gap on every dollar of revenue. On growth, Natera, Inc. posted the faster year-over-year revenue change (39.8% vs 11.0%). Over the past eight quarters, Natera, Inc.'s revenue compounded faster (34.5% CAGR vs 8.0%).
F5, Inc. is an American technology company specializing in application security, multi-cloud management, online fraud prevention, application delivery networking (ADN), application availability and performance, and network security, access, and authorization.
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...
FFIV vs NTRA — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $811.7M | $665.5M |
| Net Profit | $148.0M | $47.3M |
| Gross Margin | 81.4% | — |
| Operating Margin | 22.1% | -3.4% |
| Net Margin | 18.2% | 7.1% |
| Revenue YoY | 11.0% | 39.8% |
| Net Profit YoY | 1.5% | 187.9% |
| EPS (diluted) | $2.58 | $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 | $811.7M | — | ||
| Q4 25 | $822.5M | $665.5M | ||
| Q3 25 | $810.1M | $592.2M | ||
| Q2 25 | $780.4M | $546.6M | ||
| Q1 25 | $731.1M | $501.8M | ||
| Q4 24 | $766.5M | $476.1M | ||
| Q3 24 | $746.7M | $439.8M | ||
| Q2 24 | $695.5M | $413.4M |
| Q1 26 | $148.0M | — | ||
| Q4 25 | $180.1M | $47.3M | ||
| Q3 25 | $190.5M | $-87.5M | ||
| Q2 25 | $189.9M | $-100.9M | ||
| Q1 25 | $145.5M | $-66.9M | ||
| Q4 24 | $166.4M | $-53.8M | ||
| Q3 24 | $165.3M | $-31.6M | ||
| Q2 24 | $144.1M | $-37.5M |
| Q1 26 | 81.4% | — | ||
| Q4 25 | 81.5% | — | ||
| Q3 25 | 82.2% | — | ||
| Q2 25 | 81.0% | — | ||
| Q1 25 | 80.7% | — | ||
| Q4 24 | 81.7% | — | ||
| Q3 24 | 80.8% | — | ||
| Q2 24 | 80.4% | — |
| Q1 26 | 22.1% | — | ||
| Q4 25 | 26.0% | -3.4% | ||
| Q3 25 | 25.4% | -16.5% | ||
| Q2 25 | 25.2% | -20.2% | ||
| Q1 25 | 21.7% | -15.8% | ||
| Q4 24 | 26.8% | -13.6% | ||
| Q3 24 | 25.6% | -8.9% | ||
| Q2 24 | 23.4% | -10.6% |
| Q1 26 | 18.2% | — | ||
| Q4 25 | 21.9% | 7.1% | ||
| Q3 25 | 23.5% | -14.8% | ||
| Q2 25 | 24.3% | -18.5% | ||
| Q1 25 | 19.9% | -13.3% | ||
| Q4 24 | 21.7% | -11.3% | ||
| Q3 24 | 22.1% | -7.2% | ||
| Q2 24 | 20.7% | -9.1% |
| Q1 26 | $2.58 | — | ||
| Q4 25 | $3.10 | $0.36 | ||
| Q3 25 | $3.25 | $-0.64 | ||
| Q2 25 | $3.25 | $-0.74 | ||
| Q1 25 | $2.48 | $-0.50 | ||
| Q4 24 | $2.82 | $-0.41 | ||
| Q3 24 | $2.79 | $-0.26 | ||
| Q2 24 | $2.44 | $-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 | $1.4B | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.6B | $1.7B |
| Total Assets | $6.5B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.3B | $1.0M | ||
| Q2 25 | $1.4B | $16.0M | ||
| Q1 25 | $1.3B | $17.8M | ||
| Q4 24 | $1.2B | $22.7M | ||
| Q3 24 | $1.1B | $29.5M | ||
| Q2 24 | $935.6M | $90.3M |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.5B | $1.7B | ||
| Q3 25 | $3.6B | $1.3B | ||
| Q2 25 | $3.5B | $1.2B | ||
| Q1 25 | $3.3B | $1.2B | ||
| Q4 24 | $3.2B | $1.2B | ||
| Q3 24 | $3.1B | $878.5M | ||
| Q2 24 | $3.0B | $836.5M |
| Q1 26 | $6.5B | — | ||
| Q4 25 | $6.3B | $2.4B | ||
| Q3 25 | $6.3B | $1.8B | ||
| Q2 25 | $6.1B | $1.8B | ||
| Q1 25 | $5.9B | $1.7B | ||
| Q4 24 | $5.9B | $1.7B | ||
| Q3 24 | $5.6B | $1.6B | ||
| Q2 24 | $5.4B | $1.5B |
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 | $525.1M | $73.9M |
| Free Cash FlowOCF − Capex | — | $37.8M |
| FCF MarginFCF / Revenue | — | 5.7% |
| Capex IntensityCapex / Revenue | — | 5.4% |
| Cash ConversionOCF / Net Profit | 3.55× | 1.56× |
| TTM Free Cash FlowTrailing 4 quarters | — | $109.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $525.1M | — | ||
| Q4 25 | $159.2M | $73.9M | ||
| Q3 25 | $208.1M | $59.4M | ||
| Q2 25 | $282.2M | $37.6M | ||
| Q1 25 | $256.6M | $44.5M | ||
| Q4 24 | $202.8M | $52.9M | ||
| Q3 24 | $246.5M | $51.8M | ||
| Q2 24 | $159.0M | $4.0M |
| Q1 26 | — | — | ||
| Q4 25 | $149.5M | $37.8M | ||
| Q3 25 | $191.9M | $37.0M | ||
| Q2 25 | $273.7M | $11.7M | ||
| Q1 25 | $246.1M | $22.6M | ||
| Q4 24 | $194.7M | $34.8M | ||
| Q3 24 | $240.4M | $35.5M | ||
| Q2 24 | $153.1M | $-7.7M |
| Q1 26 | — | — | ||
| Q4 25 | 18.2% | 5.7% | ||
| Q3 25 | 23.7% | 6.2% | ||
| Q2 25 | 35.1% | 2.1% | ||
| Q1 25 | 33.7% | 4.5% | ||
| Q4 24 | 25.4% | 7.3% | ||
| Q3 24 | 32.2% | 8.1% | ||
| Q2 24 | 22.0% | -1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 5.4% | ||
| Q3 25 | 2.0% | 3.8% | ||
| Q2 25 | 1.1% | 4.7% | ||
| Q1 25 | 1.4% | 4.3% | ||
| Q4 24 | 1.1% | 3.8% | ||
| Q3 24 | 0.8% | 3.7% | ||
| Q2 24 | 0.8% | 2.8% |
| Q1 26 | 3.55× | — | ||
| Q4 25 | 0.88× | 1.56× | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 1.49× | — | ||
| Q1 25 | 1.76× | — | ||
| Q4 24 | 1.22× | — | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
