Natera vs United Therapeutics
United Therapeutics is the larger business, with $3.18bn of revenue in fiscal 2025 against $2.31bn for Natera (1.4 times as much). Natera grew faster (35.9% against 10.6%). United Therapeutics kept more of each dollar of sales as profit: a net margin of 41.9% against -9.0%.
| Latest fiscal year | NateraNTRA, 2025 | United TherapeuticsUTHR, 2025 |
|---|---|---|
| Revenue | $2.31bn | $3.18bn |
| Revenue growth | 35.9% | 10.6% |
| Net income | −$208m | $1.33bn |
| Operating margin | -13.4% | 46.9% |
| Net margin | -9.0% | 41.9% |
| Return on equity | -14.3% | 19.7% |
| Free cash flow | $109m | $1.04bn |
| Cash | $1.08bn | $1.56bn |
| Total debt | $80.3m | — |
| Debt to equity | 4.7% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $1.00bn |
| Employees | — | 1,400 |
| Market value | $56.04bn | $25.65bn |
| Price vs our value range | — | Within our value range |
| Moat score | 17 (Weak) | 75 (Strong) |
| Insider trades, 12 months | 0 buys, 511 sales | 1 buys, 2808 sales |