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Side-by-side financial comparison of Natera, Inc. (NTRA) and Qnity Electronics, Inc. (Q). Click either name above to swap in a different company.
Qnity Electronics, Inc. is the larger business by last-quarter revenue ($1.3B vs $665.5M, roughly 1.9× Natera, Inc.). Qnity Electronics, Inc. runs the higher net margin — 16.5% vs 7.1%, a 9.4% gap on every dollar of revenue. On growth, Natera, Inc. posted the faster year-over-year revenue change (39.8% vs 11.1%). Qnity Electronics, Inc. produced more free cash flow last quarter ($568.0M vs $37.8M).
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...
NTRA vs Q — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $665.5M | $1.3B |
| Net Profit | $47.3M | $211.0M |
| Gross Margin | — | 45.1% |
| Operating Margin | -3.4% | 21.3% |
| Net Margin | 7.1% | 16.5% |
| Revenue YoY | 39.8% | 11.1% |
| Net Profit YoY | 187.9% | 6.0% |
| EPS (diluted) | $0.36 | $1.01 |
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 | $665.5M | — | ||
| Q3 25 | $592.2M | $1.3B | ||
| Q2 25 | $546.6M | — | ||
| Q1 25 | $501.8M | — | ||
| Q4 24 | $476.1M | — | ||
| Q3 24 | $439.8M | $1.1B | ||
| Q2 24 | $413.4M | — | ||
| Q1 24 | $367.7M | — |
| Q4 25 | $47.3M | — | ||
| Q3 25 | $-87.5M | $211.0M | ||
| Q2 25 | $-100.9M | — | ||
| Q1 25 | $-66.9M | — | ||
| Q4 24 | $-53.8M | — | ||
| Q3 24 | $-31.6M | $199.0M | ||
| Q2 24 | $-37.5M | — | ||
| Q1 24 | $-67.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 45.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 47.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -3.4% | — | ||
| Q3 25 | -16.5% | 21.3% | ||
| Q2 25 | -20.2% | — | ||
| Q1 25 | -15.8% | — | ||
| Q4 24 | -13.6% | — | ||
| Q3 24 | -8.9% | 21.8% | ||
| Q2 24 | -10.6% | — | ||
| Q1 24 | -20.2% | — |
| Q4 25 | 7.1% | — | ||
| Q3 25 | -14.8% | 16.5% | ||
| Q2 25 | -18.5% | — | ||
| Q1 25 | -13.3% | — | ||
| Q4 24 | -11.3% | — | ||
| Q3 24 | -7.2% | 17.3% | ||
| Q2 24 | -9.1% | — | ||
| Q1 24 | -18.4% | — |
| Q4 25 | $0.36 | — | ||
| Q3 25 | $-0.64 | $1.01 | ||
| Q2 25 | $-0.74 | — | ||
| Q1 25 | $-0.50 | — | ||
| Q4 24 | $-0.41 | — | ||
| Q3 24 | $-0.26 | $0.95 | ||
| Q2 24 | $-0.30 | — | ||
| Q1 24 | $-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 | — | $128.0M |
| Total DebtLower is stronger | — | $1.7B |
| Stockholders' EquityBook value | $1.7B | $9.1B |
| Total Assets | $2.4B | $12.5B |
| Debt / EquityLower = less leverage | — | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $1.0M | $128.0M | ||
| Q2 25 | $16.0M | — | ||
| Q1 25 | $17.8M | — | ||
| Q4 24 | $22.7M | — | ||
| Q3 24 | $29.5M | — | ||
| Q2 24 | $90.3M | — | ||
| Q1 24 | $69.1M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.3B | $9.1B | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $878.5M | $11.1B | ||
| Q2 24 | $836.5M | — | ||
| Q1 24 | $794.1M | — |
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.8B | $12.5B | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $73.9M | $782.0M |
| Free Cash FlowOCF − Capex | $37.8M | $568.0M |
| FCF MarginFCF / Revenue | 5.7% | 44.5% |
| Capex IntensityCapex / Revenue | 5.4% | 16.8% |
| Cash ConversionOCF / Net Profit | 1.56× | 3.71× |
| TTM Free Cash FlowTrailing 4 quarters | $109.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $73.9M | — | ||
| Q3 25 | $59.4M | $782.0M | ||
| Q2 25 | $37.6M | — | ||
| Q1 25 | $44.5M | — | ||
| Q4 24 | $52.9M | — | ||
| Q3 24 | $51.8M | — | ||
| Q2 24 | $4.0M | — | ||
| Q1 24 | $27.0M | — |
| Q4 25 | $37.8M | — | ||
| Q3 25 | $37.0M | $568.0M | ||
| 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% | 44.5% | ||
| 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% | 16.8% | ||
| 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 | 1.56× | — | ||
| Q3 25 | — | 3.71× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NTRA
Segment breakdown not available.
Q
| Semiconductor Technologies | $693.0M | 54% |
| Interconnect Solutions | $583.0M | 46% |
