vs
Side-by-side financial comparison of Natera, Inc. (NTRA) and Teradyne (TER). Click either name above to swap in a different company.
Teradyne is the larger business by last-quarter revenue ($1.1B vs $665.5M, roughly 1.6× Natera, Inc.). Teradyne runs the higher net margin — 23.7% vs 7.1%, a 16.6% gap on every dollar of revenue. On growth, Teradyne posted the faster year-over-year revenue change (43.9% vs 39.8%). Teradyne produced more free cash flow last quarter ($218.8M vs $37.8M). Over the past eight quarters, Natera, Inc.'s revenue compounded faster (34.5% CAGR vs 34.4%).
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...
Teradyne, Inc. is an American automatic test equipment (ATE) designer and manufacturer based in North Reading, Massachusetts. Its high-profile customers include Samsung, Qualcomm, Intel, Analog Devices, Texas Instruments and IBM.
NTRA vs TER — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $665.5M | $1.1B |
| Net Profit | $47.3M | $257.2M |
| Gross Margin | — | 57.2% |
| Operating Margin | -3.4% | 27.1% |
| Net Margin | 7.1% | 23.7% |
| Revenue YoY | 39.8% | 43.9% |
| Net Profit YoY | 187.9% | 75.9% |
| EPS (diluted) | $0.36 | $1.62 |
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 | $1.1B | ||
| Q3 25 | $592.2M | $769.2M | ||
| Q2 25 | $546.6M | $651.8M | ||
| Q1 25 | $501.8M | $685.7M | ||
| Q4 24 | $476.1M | $752.9M | ||
| Q3 24 | $439.8M | $737.3M | ||
| Q2 24 | $413.4M | $729.9M | ||
| Q1 24 | $367.7M | $599.8M |
| Q4 25 | $47.3M | $257.2M | ||
| Q3 25 | $-87.5M | $119.6M | ||
| Q2 25 | $-100.9M | $78.4M | ||
| Q1 25 | $-66.9M | $98.9M | ||
| Q4 24 | $-53.8M | $146.3M | ||
| Q3 24 | $-31.6M | $145.6M | ||
| Q2 24 | $-37.5M | $186.3M | ||
| Q1 24 | $-67.6M | $64.2M |
| Q4 25 | — | 57.2% | ||
| Q3 25 | — | 58.4% | ||
| Q2 25 | — | 57.2% | ||
| Q1 25 | — | 60.6% | ||
| Q4 24 | — | 59.4% | ||
| Q3 24 | — | 59.2% | ||
| Q2 24 | — | 58.3% | ||
| Q1 24 | — | 56.6% |
| Q4 25 | -3.4% | 27.1% | ||
| Q3 25 | -16.5% | 18.9% | ||
| Q2 25 | -20.2% | 13.9% | ||
| Q1 25 | -15.8% | 17.6% | ||
| Q4 24 | -13.6% | 20.4% | ||
| Q3 24 | -8.9% | 20.6% | ||
| Q2 24 | -10.6% | 28.8% | ||
| Q1 24 | -20.2% | 13.0% |
| Q4 25 | 7.1% | 23.7% | ||
| Q3 25 | -14.8% | 15.5% | ||
| Q2 25 | -18.5% | 12.0% | ||
| Q1 25 | -13.3% | 14.4% | ||
| Q4 24 | -11.3% | 19.4% | ||
| Q3 24 | -7.2% | 19.8% | ||
| Q2 24 | -9.1% | 25.5% | ||
| Q1 24 | -18.4% | 10.7% |
| Q4 25 | $0.36 | $1.62 | ||
| Q3 25 | $-0.64 | $0.75 | ||
| Q2 25 | $-0.74 | $0.49 | ||
| Q1 25 | $-0.50 | $0.61 | ||
| Q4 24 | $-0.41 | $0.89 | ||
| Q3 24 | $-0.26 | $0.89 | ||
| Q2 24 | $-0.30 | $1.14 | ||
| Q1 24 | $-0.56 | $0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $293.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.7B | $2.8B |
| Total Assets | $2.4B | $4.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $293.8M | ||
| Q3 25 | $1.0M | $272.7M | ||
| Q2 25 | $16.0M | $339.3M | ||
| Q1 25 | $17.8M | $475.6M | ||
| Q4 24 | $22.7M | $553.4M | ||
| Q3 24 | $29.5M | $510.0M | ||
| Q2 24 | $90.3M | $421.9M | ||
| Q1 24 | $69.1M | $707.4M |
| Q4 25 | $1.7B | $2.8B | ||
| Q3 25 | $1.3B | $2.7B | ||
| Q2 25 | $1.2B | $2.8B | ||
| Q1 25 | $1.2B | $2.8B | ||
| Q4 24 | $1.2B | $2.8B | ||
| Q3 24 | $878.5M | $2.9B | ||
| Q2 24 | $836.5M | $2.7B | ||
| Q1 24 | $794.1M | $2.6B |
| Q4 25 | $2.4B | $4.2B | ||
| Q3 25 | $1.8B | $4.0B | ||
| Q2 25 | $1.8B | $3.8B | ||
| Q1 25 | $1.7B | $3.7B | ||
| Q4 24 | $1.7B | $3.7B | ||
| Q3 24 | $1.6B | $3.8B | ||
| Q2 24 | $1.5B | $3.6B | ||
| Q1 24 | $1.5B | $3.4B |
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 | $281.6M |
| Free Cash FlowOCF − Capex | $37.8M | $218.8M |
| FCF MarginFCF / Revenue | 5.7% | 20.2% |
| Capex IntensityCapex / Revenue | 5.4% | 5.8% |
| Cash ConversionOCF / Net Profit | 1.56× | 1.09× |
| TTM Free Cash FlowTrailing 4 quarters | $109.1M | $450.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $73.9M | $281.6M | ||
| Q3 25 | $59.4M | $49.0M | ||
| Q2 25 | $37.6M | $182.1M | ||
| Q1 25 | $44.5M | $161.6M | ||
| Q4 24 | $52.9M | $282.6M | ||
| Q3 24 | $51.8M | $166.3M | ||
| Q2 24 | $4.0M | $216.1M | ||
| Q1 24 | $27.0M | $7.3M |
| Q4 25 | $37.8M | $218.8M | ||
| Q3 25 | $37.0M | $2.4M | ||
| Q2 25 | $11.7M | $131.7M | ||
| Q1 25 | $22.6M | $97.6M | ||
| Q4 24 | $34.8M | $225.2M | ||
| Q3 24 | $35.5M | $114.4M | ||
| Q2 24 | $-7.7M | $171.2M | ||
| Q1 24 | $6.7M | $-36.7M |
| Q4 25 | 5.7% | 20.2% | ||
| Q3 25 | 6.2% | 0.3% | ||
| Q2 25 | 2.1% | 20.2% | ||
| Q1 25 | 4.5% | 14.2% | ||
| Q4 24 | 7.3% | 29.9% | ||
| Q3 24 | 8.1% | 15.5% | ||
| Q2 24 | -1.9% | 23.5% | ||
| Q1 24 | 1.8% | -6.1% |
| Q4 25 | 5.4% | 5.8% | ||
| Q3 25 | 3.8% | 6.1% | ||
| Q2 25 | 4.7% | 7.7% | ||
| Q1 25 | 4.3% | 9.3% | ||
| Q4 24 | 3.8% | 7.6% | ||
| Q3 24 | 3.7% | 7.0% | ||
| Q2 24 | 2.8% | 6.1% | ||
| Q1 24 | 5.5% | 7.3% |
| Q4 25 | 1.56× | 1.09× | ||
| Q3 25 | — | 0.41× | ||
| Q2 25 | — | 2.32× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | — | 1.93× | ||
| Q3 24 | — | 1.14× | ||
| Q2 24 | — | 1.16× | ||
| Q1 24 | — | 0.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NTRA
Segment breakdown not available.
TER
| Soc | $646.5M | 60% |
| Memory | $206.5M | 19% |
| Transferred At Point In Time | $90.0M | 8% |
| Universal Robots | $89.4M | 8% |
| IST | $30.5M | 3% |
| Transferred Over Time | $20.5M | 2% |
