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Natera, Inc.（NTRA）与VERACYTE, INC.（VCYT）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VERACYTE, INC.的4.7倍（$665.5M vs $140.6M）。VERACYTE, INC.净利率更高（29.3% vs 7.1%，领先22.2%）。Natera, Inc.同比增速更快（39.8% vs 18.5%）。VERACYTE, INC.自由现金流更多（$48.8M vs $37.8M）。过去两年Natera, Inc.的营收复合增速更高（34.5% vs 20.5%）
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。
Veracyte是一家领先的分子诊断企业，专注开发专有的基因组检测方案，可实现癌症及其他复杂疾病的早期精准检测，产品服务于医疗机构以优化临床决策，核心市场位于美国，正稳步拓展全球业务布局。
NTRA vs VCYT — 直观对比
营收规模更大
NTRA
是对方的4.7倍
$140.6M
营收增速更快
NTRA
高出21.2%
18.5%
净利率更高
VCYT
高出22.2%
7.1%
自由现金流更多
VCYT
多$11.0M
$37.8M
两年增速更快
NTRA
近两年复合增速
20.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $665.5M | $140.6M |
| 净利润 | $47.3M | $41.1M |
| 毛利率 | — | 72.5% |
| 营业利润率 | -3.4% | 26.4% |
| 净利率 | 7.1% | 29.3% |
| 营收同比 | 39.8% | 18.5% |
| 净利润同比 | 187.9% | 704.8% |
| 每股收益（稀释后） | $0.36 | $0.50 |
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NTRAVCYT
| Q4 25 | $665.5M | $140.6M | ||
| Q3 25 | $592.2M | $131.9M | ||
| Q2 25 | $546.6M | $130.2M | ||
| Q1 25 | $501.8M | $114.5M | ||
| Q4 24 | $476.1M | $118.6M | ||
| Q3 24 | $439.8M | $115.9M | ||
| Q2 24 | $413.4M | $114.4M | ||
| Q1 24 | $367.7M | $96.8M |
净利润NTRAVCYT
| Q4 25 | $47.3M | $41.1M | ||
| Q3 25 | $-87.5M | $19.1M | ||
| Q2 25 | $-100.9M | $-980.0K | ||
| Q1 25 | $-66.9M | $7.0M | ||
| Q4 24 | $-53.8M | $5.1M | ||
| Q3 24 | $-31.6M | $15.2M | ||
| Q2 24 | $-37.5M | $5.7M | ||
| Q1 24 | $-67.6M | $-1.9M |
毛利率NTRAVCYT
| Q4 25 | — | 72.5% | ||
| Q3 25 | — | 69.2% | ||
| Q2 25 | — | 69.0% | ||
| Q1 25 | — | 69.5% | ||
| Q4 24 | — | 66.4% | ||
| Q3 24 | — | 68.2% | ||
| Q2 24 | — | 68.1% | ||
| Q1 24 | — | 64.5% |
营业利润率NTRAVCYT
| Q4 25 | -3.4% | 26.4% | ||
| Q3 25 | -16.5% | 17.4% | ||
| Q2 25 | -20.2% | -4.0% | ||
| Q1 25 | -15.8% | 2.5% | ||
| Q4 24 | -13.6% | 3.5% | ||
| Q3 24 | -8.9% | 10.4% | ||
| Q2 24 | -10.6% | 4.0% | ||
| Q1 24 | -20.2% | -4.8% |
净利率NTRAVCYT
| Q4 25 | 7.1% | 29.3% | ||
| Q3 25 | -14.8% | 14.5% | ||
| Q2 25 | -18.5% | -0.8% | ||
| Q1 25 | -13.3% | 6.2% | ||
| Q4 24 | -11.3% | 4.3% | ||
| Q3 24 | -7.2% | 13.1% | ||
| Q2 24 | -9.1% | 5.0% | ||
| Q1 24 | -18.4% | -1.9% |
每股收益（稀释后）NTRAVCYT
| Q4 25 | $0.36 | $0.50 | ||
| Q3 25 | $-0.64 | $0.24 | ||
| Q2 25 | $-0.74 | $-0.01 | ||
| Q1 25 | $-0.50 | $0.09 | ||
| Q4 24 | $-0.41 | $0.07 | ||
| Q3 24 | $-0.26 | $0.19 | ||
| Q2 24 | $-0.30 | $0.07 | ||
| Q1 24 | $-0.56 | $-0.02 |
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 | — | $362.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.7B | $1.3B |
| 总资产 | $2.4B | $1.4B |
| 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NTRAVCYT
| Q4 25 | — | $362.6M | ||
| Q3 25 | $1.0M | $315.6M | ||
| Q2 25 | $16.0M | $219.5M | ||
| Q1 25 | $17.8M | $186.1M | ||
| Q4 24 | $22.7M | $239.1M | ||
| Q3 24 | $29.5M | $274.1M | ||
| Q2 24 | $90.3M | $235.9M | ||
| Q1 24 | $69.1M | $209.2M |
股东权益NTRAVCYT
| Q4 25 | $1.7B | $1.3B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $878.5M | $1.2B | ||
| Q2 24 | $836.5M | $1.1B | ||
| Q1 24 | $794.1M | $1.1B |
总资产NTRAVCYT
| Q4 25 | $2.4B | $1.4B | ||
| Q3 25 | $1.8B | $1.4B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.5B | $1.2B |
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 | $73.9M | $52.6M |
| 自由现金流经营现金流 - 资本支出 | $37.8M | $48.8M |
| 自由现金流率自由现金流/营收 | 5.7% | 34.7% |
| 资本支出强度资本支出/营收 | 5.4% | 2.7% |
| 现金转化率经营现金流/净利润 | 1.56× | 1.28× |
| 过去12个月自由现金流最近4个季度 | $109.1M | $126.6M |
8季度趋势，按日历期对齐
经营现金流NTRAVCYT
| Q4 25 | $73.9M | $52.6M | ||
| Q3 25 | $59.4M | $44.8M | ||
| Q2 25 | $37.6M | $33.6M | ||
| Q1 25 | $44.5M | $5.4M | ||
| Q4 24 | $52.9M | $24.5M | ||
| Q3 24 | $51.8M | $30.0M | ||
| Q2 24 | $4.0M | $29.6M | ||
| Q1 24 | $27.0M | $-9.0M |
自由现金流NTRAVCYT
| Q4 25 | $37.8M | $48.8M | ||
| Q3 25 | $37.0M | $42.0M | ||
| Q2 25 | $11.7M | $32.3M | ||
| Q1 25 | $22.6M | $3.5M | ||
| Q4 24 | $34.8M | $20.4M | ||
| Q3 24 | $35.5M | $27.7M | ||
| Q2 24 | $-7.7M | $26.8M | ||
| Q1 24 | $6.7M | $-11.1M |
自由现金流率NTRAVCYT
| Q4 25 | 5.7% | 34.7% | ||
| Q3 25 | 6.2% | 31.8% | ||
| Q2 25 | 2.1% | 24.8% | ||
| Q1 25 | 4.5% | 3.1% | ||
| Q4 24 | 7.3% | 17.2% | ||
| Q3 24 | 8.1% | 23.9% | ||
| Q2 24 | -1.9% | 23.4% | ||
| Q1 24 | 1.8% | -11.5% |
资本支出强度NTRAVCYT
| Q4 25 | 5.4% | 2.7% | ||
| Q3 25 | 3.8% | 2.1% | ||
| Q2 25 | 4.7% | 1.0% | ||
| Q1 25 | 4.3% | 1.6% | ||
| Q4 24 | 3.8% | 3.5% | ||
| Q3 24 | 3.7% | 1.9% | ||
| Q2 24 | 2.8% | 2.4% | ||
| Q1 24 | 5.5% | 2.2% |
现金转化率NTRAVCYT
| Q4 25 | 1.56× | 1.28× | ||
| Q3 25 | — | 2.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.76× | ||
| Q4 24 | — | 4.80× | ||
| Q3 24 | — | 1.98× | ||
| Q2 24 | — | 5.16× | ||
| 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
NTRA
暂无分部数据
VCYT
| Testing | $135.8M | 97% |
| Products | $3.8M | 3% |
| Biopharmaceutical And Other | $686.0K | 0% |
