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Natera, Inc.（NTRA）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
Natera, Inc.的季度营收约是世纪互联的1.8倍（$665.5M vs $362.7M），Natera, Inc.净利率更高（7.1% vs -10.7%，领先17.8%），Natera, Inc.自由现金流更多（$37.8M vs $-193.1M），过去两年Natera, Inc.的营收复合增速更高（34.5% vs 17.4%）
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。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
NTRA vs VNET — 直观对比
营收规模更大
NTRA
是对方的1.8倍
$362.7M
净利率更高
NTRA
高出17.8%
-10.7%
自由现金流更多
NTRA
多$230.9M
$-193.1M
两年增速更快
NTRA
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $665.5M | $362.7M |
| 净利润 | $47.3M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | -3.4% | 0.5% |
| 净利率 | 7.1% | -10.7% |
| 营收同比 | 39.8% | — |
| 净利润同比 | 187.9% | — |
| 每股收益（稀释后） | $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NTRAVNET
| Q4 25 | $665.5M | — | ||
| Q3 25 | $592.2M | $362.7M | ||
| Q2 25 | $546.6M | — | ||
| Q1 25 | $501.8M | $309.5M | ||
| Q4 24 | $476.1M | — | ||
| Q3 24 | $439.8M | $302.2M | ||
| Q2 24 | $413.4M | $274.4M | ||
| Q1 24 | $367.7M | $262.9M |
净利润NTRAVNET
| Q4 25 | $47.3M | — | ||
| Q3 25 | $-87.5M | $-38.7M | ||
| Q2 25 | $-100.9M | — | ||
| Q1 25 | $-66.9M | $-2.4M | ||
| Q4 24 | $-53.8M | — | ||
| Q3 24 | $-31.6M | $-2.1M | ||
| Q2 24 | $-37.5M | $-1.1M | ||
| Q1 24 | $-67.6M | $-22.0M |
毛利率NTRAVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 21.6% |
营业利润率NTRAVNET
| Q4 25 | -3.4% | — | ||
| Q3 25 | -16.5% | 0.5% | ||
| Q2 25 | -20.2% | — | ||
| Q1 25 | -15.8% | 0.1% | ||
| Q4 24 | -13.6% | — | ||
| Q3 24 | -8.9% | 24.5% | ||
| Q2 24 | -10.6% | 0.2% | ||
| Q1 24 | -20.2% | 0.2% |
净利率NTRAVNET
| Q4 25 | 7.1% | — | ||
| Q3 25 | -14.8% | -10.7% | ||
| Q2 25 | -18.5% | — | ||
| Q1 25 | -13.3% | -0.8% | ||
| Q4 24 | -11.3% | — | ||
| Q3 24 | -7.2% | -0.7% | ||
| Q2 24 | -9.1% | -0.4% | ||
| Q1 24 | -18.4% | -8.4% |
每股收益（稀释后）NTRAVNET
| Q4 25 | $0.36 | — | ||
| Q3 25 | $-0.64 | — | ||
| Q2 25 | $-0.74 | — | ||
| Q1 25 | $-0.50 | — | ||
| Q4 24 | $-0.41 | — | ||
| Q3 24 | $-0.26 | — | ||
| Q2 24 | $-0.30 | — | ||
| Q1 24 | $-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 | — | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.7B | $890.8M |
| 总资产 | $2.4B | $6.1B |
| 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NTRAVNET
| Q4 25 | — | — | ||
| Q3 25 | $1.0M | $492.1M | ||
| Q2 25 | $16.0M | — | ||
| Q1 25 | $17.8M | $544.3M | ||
| Q4 24 | $22.7M | — | ||
| Q3 24 | $29.5M | $219.5M | ||
| Q2 24 | $90.3M | $247.2M | ||
| Q1 24 | $69.1M | $246.9M |
总债务NTRAVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益NTRAVNET
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.3B | $890.8M | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | $927.8M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $878.5M | $902.9M | ||
| Q2 24 | $836.5M | $900.6M | ||
| Q1 24 | $794.1M | $895.1M |
总资产NTRAVNET
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.8B | $6.1B | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.7B | $5.4B | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.6B | $4.3B | ||
| Q2 24 | $1.5B | $4.0B | ||
| Q1 24 | $1.5B | $3.9B |
负债/权益比NTRAVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $37.8M | $-193.1M |
| 自由现金流率自由现金流/营收 | 5.7% | -53.2% |
| 资本支出强度资本支出/营收 | 5.4% | 84.6% |
| 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 | $109.1M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流NTRAVNET
| Q4 25 | $73.9M | — | ||
| Q3 25 | $59.4M | $113.8M | ||
| Q2 25 | $37.6M | — | ||
| Q1 25 | $44.5M | $27.0M | ||
| Q4 24 | $52.9M | — | ||
| Q3 24 | $51.8M | $108.3M | ||
| Q2 24 | $4.0M | $55.8M | ||
| Q1 24 | $27.0M | $37.1M |
自由现金流NTRAVNET
| Q4 25 | $37.8M | — | ||
| Q3 25 | $37.0M | $-193.1M | ||
| Q2 25 | $11.7M | — | ||
| Q1 25 | $22.6M | $-220.0M | ||
| Q4 24 | $34.8M | — | ||
| Q3 24 | $35.5M | $-95.0M | ||
| Q2 24 | $-7.7M | $-81.6M | ||
| Q1 24 | $6.7M | $-102.2M |
自由现金流率NTRAVNET
| Q4 25 | 5.7% | — | ||
| Q3 25 | 6.2% | -53.2% | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 4.5% | -71.1% | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | 8.1% | -31.4% | ||
| Q2 24 | -1.9% | -29.8% | ||
| Q1 24 | 1.8% | -38.9% |
资本支出强度NTRAVNET
| Q4 25 | 5.4% | — | ||
| Q3 25 | 3.8% | 84.6% | ||
| Q2 25 | 4.7% | — | ||
| Q1 25 | 4.3% | 79.8% | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | 3.7% | 67.3% | ||
| Q2 24 | 2.8% | 50.1% | ||
| Q1 24 | 5.5% | 53.0% |
现金转化率NTRAVNET
| 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
