vs
Guardant Health, Inc.（GH）与Natera, Inc.（NTRA）财务数据对比。点击上方公司名可切换其他公司
Natera, Inc.的季度营收约是Guardant Health, Inc.的2.4倍（$665.5M vs $281.3M）。Natera, Inc.净利率更高（7.1% vs -45.7%，领先52.8%）。Natera, Inc.同比增速更快（39.8% vs 39.4%）。Natera, Inc.自由现金流更多（$37.8M vs $-54.2M）。过去两年Natera, Inc.的营收复合增速更高（34.5% vs 29.2%）
Guardant Health, Inc.是总部位于美国加利福尼亚州帕洛阿尔托的生物技术企业，由Helmy Eltoukhy与AmirAli Talasaz联合创立，目前二人共同出任公司首席执行官，统筹公司战略规划与日常运营管理工作。
Natera是总部位于美国得克萨斯州奥斯汀的临床基因检测企业，主打无创游离DNA（cfDNA）检测技术，业务覆盖女性健康、肿瘤及器官健康三大核心赛道。其自研专利技术结合前沿分子生物学手段与生物信息学工具矩阵，可实现单管血液样本中低至单个分子级别的高灵敏度检测。
GH vs NTRA — 直观对比
营收规模更大
NTRA
是对方的2.4倍
$281.3M
营收增速更快
NTRA
高出0.4%
39.4%
净利率更高
NTRA
高出52.8%
-45.7%
自由现金流更多
NTRA
多$92.0M
$-54.2M
两年增速更快
NTRA
近两年复合增速
29.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $281.3M | $665.5M |
| 净利润 | $-128.5M | $47.3M |
| 毛利率 | 64.6% | — |
| 营业利润率 | -43.0% | -3.4% |
| 净利率 | -45.7% | 7.1% |
| 营收同比 | 39.4% | 39.8% |
| 净利润同比 | -15.8% | 187.9% |
| 每股收益（稀释后） | $-1.01 | $0.36 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收GHNTRA
| Q4 25 | $281.3M | $665.5M | ||
| Q3 25 | $265.2M | $592.2M | ||
| Q2 25 | $232.1M | $546.6M | ||
| Q1 25 | $203.5M | $501.8M | ||
| Q4 24 | $201.8M | $476.1M | ||
| Q3 24 | $191.5M | $439.8M | ||
| Q2 24 | $177.2M | $413.4M | ||
| Q1 24 | $168.5M | $367.7M |
净利润GHNTRA
| Q4 25 | $-128.5M | $47.3M | ||
| Q3 25 | $-92.7M | $-87.5M | ||
| Q2 25 | $-99.9M | $-100.9M | ||
| Q1 25 | $-95.2M | $-66.9M | ||
| Q4 24 | $-111.0M | $-53.8M | ||
| Q3 24 | $-107.8M | $-31.6M | ||
| Q2 24 | $-102.6M | $-37.5M | ||
| Q1 24 | $-115.0M | $-67.6M |
毛利率GHNTRA
| Q4 25 | 64.6% | — | ||
| Q3 25 | 64.7% | — | ||
| Q2 25 | 65.0% | — | ||
| Q1 25 | 63.3% | — | ||
| Q4 24 | 61.6% | — | ||
| Q3 24 | 61.1% | — | ||
| Q2 24 | 59.1% | — | ||
| Q1 24 | 61.2% | — |
营业利润率GHNTRA
| Q4 25 | -43.0% | -3.4% | ||
| Q3 25 | -37.3% | -16.5% | ||
| Q2 25 | -45.9% | -20.2% | ||
| Q1 25 | -54.6% | -15.8% | ||
| Q4 24 | -62.4% | -13.6% | ||
| Q3 24 | -61.3% | -8.9% | ||
| Q2 24 | -56.8% | -10.6% | ||
| Q1 24 | -59.2% | -20.2% |
净利率GHNTRA
| Q4 25 | -45.7% | 7.1% | ||
| Q3 25 | -35.0% | -14.8% | ||
| Q2 25 | -43.0% | -18.5% | ||
| Q1 25 | -46.8% | -13.3% | ||
| Q4 24 | -55.0% | -11.3% | ||
| Q3 24 | -56.3% | -7.2% | ||
| Q2 24 | -57.9% | -9.1% | ||
| Q1 24 | -68.2% | -18.4% |
每股收益（稀释后）GHNTRA
| Q4 25 | $-1.01 | $0.36 | ||
| Q3 25 | $-0.74 | $-0.64 | ||
| Q2 25 | $-0.80 | $-0.74 | ||
| Q1 25 | $-0.77 | $-0.50 | ||
| Q4 24 | $-0.90 | $-0.41 | ||
| Q3 24 | $-0.88 | $-0.26 | ||
| Q2 24 | $-0.84 | $-0.30 | ||
| Q1 24 | $-0.94 | $-0.56 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $378.2M | — |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $-99.3M | $1.7B |
| 总资产 | $2.0B | $2.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资GHNTRA
| Q4 25 | $378.2M | — | ||
| Q3 25 | $580.0M | $1.0M | ||
| Q2 25 | $629.1M | $16.0M | ||
| Q1 25 | $698.6M | $17.8M | ||
| Q4 24 | $525.5M | $22.7M | ||
| Q3 24 | $585.0M | $29.5M | ||
| Q2 24 | $933.7M | $90.3M | ||
| Q1 24 | $1.0B | $69.1M |
总债务GHNTRA
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益GHNTRA
| Q4 25 | $-99.3M | $1.7B | ||
| Q3 25 | $-354.5M | $1.3B | ||
| Q2 25 | $-305.5M | $1.2B | ||
| Q1 25 | $-250.8M | $1.2B | ||
| Q4 24 | $-139.6M | $1.2B | ||
| Q3 24 | $-60.1M | $878.5M | ||
| Q2 24 | $-1.6M | $836.5M | ||
| Q1 24 | $68.3M | $794.1M |
总资产GHNTRA
| Q4 25 | $2.0B | $2.4B | ||
| Q3 25 | $1.3B | $1.8B | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | $1.5B | $1.7B | ||
| Q3 24 | $1.5B | $1.6B | ||
| Q2 24 | $1.6B | $1.5B | ||
| Q1 24 | $1.7B | $1.5B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-26.4M | $73.9M |
| 自由现金流经营现金流 - 资本支出 | $-54.2M | $37.8M |
| 自由现金流率自由现金流/营收 | -19.3% | 5.7% |
| 资本支出强度资本支出/营收 | 9.9% | 5.4% |
| 现金转化率经营现金流/净利润 | — | 1.56× |
| 过去12个月自由现金流最近4个季度 | $-233.1M | $109.1M |
8季度趋势，按日历期对齐
经营现金流GHNTRA
| Q4 25 | $-26.4M | $73.9M | ||
| Q3 25 | $-35.4M | $59.4M | ||
| Q2 25 | $-60.3M | $37.6M | ||
| Q1 25 | $-62.7M | $44.5M | ||
| Q4 24 | $-64.5M | $52.9M | ||
| Q3 24 | $-51.1M | $51.8M | ||
| Q2 24 | $-94.0M | $4.0M | ||
| Q1 24 | $-30.3M | $27.0M |
自由现金流GHNTRA
| Q4 25 | $-54.2M | $37.8M | ||
| Q3 25 | $-45.8M | $37.0M | ||
| Q2 25 | $-65.9M | $11.7M | ||
| Q1 25 | $-67.1M | $22.6M | ||
| Q4 24 | $-83.4M | $34.8M | ||
| Q3 24 | $-55.3M | $35.5M | ||
| Q2 24 | $-99.1M | $-7.7M | ||
| Q1 24 | $-37.2M | $6.7M |
自由现金流率GHNTRA
| Q4 25 | -19.3% | 5.7% | ||
| Q3 25 | -17.3% | 6.2% | ||
| Q2 25 | -28.4% | 2.1% | ||
| Q1 25 | -33.0% | 4.5% | ||
| Q4 24 | -41.3% | 7.3% | ||
| Q3 24 | -28.9% | 8.1% | ||
| Q2 24 | -55.9% | -1.9% | ||
| Q1 24 | -22.1% | 1.8% |
资本支出强度GHNTRA
| Q4 25 | 9.9% | 5.4% | ||
| Q3 25 | 3.9% | 3.8% | ||
| Q2 25 | 2.4% | 4.7% | ||
| Q1 25 | 2.2% | 4.3% | ||
| Q4 24 | 9.4% | 3.8% | ||
| Q3 24 | 2.2% | 3.7% | ||
| Q2 24 | 2.9% | 2.8% | ||
| Q1 24 | 4.1% | 5.5% |
现金转化率GHNTRA
| Q4 25 | — | 1.56× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
GH
| Oncology | $189.9M | 68% |
| Biopharma Data | $54.0M | 19% |
| Screening | $35.1M | 12% |
| Licensing Other | $2.2M | 1% |
NTRA
暂无分部数据
