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NateraNTRA -2.25%80 PB Ratio is 20.29 as of Jul. 29, 2026, which is 34% above its 10-year median of 15.19. GuruFocus rates NTRA with a GF Score™ of 80/100 and a GF Value™ of $204.58 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 194 Medical Diagnostics & Research companies, Natera ranks worse than 94.85% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-29), Natera's share price is $252.22. Natera's Book Value per Share for the quarter that ended in Mar. 2026 was $12.43. Hence, Natera's PB Ratio of today is 20.29.
The historical rank and industry rank for Natera's PB Ratio or its related term are showing as below:
NTRA'
s PB Ratio Range Over the Past 10 Years
Min: 3.07 Med: 15.19 Max: 349.11
Current: 20.29
During the past 13 years, Natera's highest PB Ratio was 349.11. The lowest was 3.07. And the median was 15.19.
NTRA's PB Ratio is ranked worse than 94.85% of 194
companies
in the Medical Diagnostics & Research industry
Industry Median: 2.045
vs NTRA: 20.29
During the past 12 months, Natera's average Book Value Per Share Growth Rate was 36.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 24.60% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 14.40% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 26.10% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Natera was 136.70% per year. The lowest was -47.90% per year. And the median was 21.00% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Natera PB Ratio Related Terms
Natera PB Ratio Historical Data
* Premium members only.
The historical data trend for Natera's PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Diagnostics & Research subindustry, Natera's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Natera PB Ratio vs Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Natera's PB Ratio distribution charts can be found below:
* The bar in red indicates where Natera's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Natera's PB Ratio for today is calculated as follows:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Natera (NTRA) has a PB Ratio of 20.29 as of Jul. 29, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Natera and its competitors. This is 34% above median its historical median of 15.19. Over the past decade, Natera's PB Ratio has ranged from 3.07 to 349.11. According to the industry distribution chart, Natera ranks #184 out of 194 companies in the Medical Diagnostics & Research industry, placing it in the top 94.8%.
Is Natera's PB Ratio too high?
Natera's current PB Ratio of 20.29 is 34% above median its 10-year median of 15.19. Over the past 10 years, this metric has ranged from a low of 3.07 to a high of 349.11. The Medical Diagnostics & Research industry median PB Ratio is 2.05. Natera's value of 20.29 is 892.2% above this industry median. Based on the distribution chart, Natera ranks #184 out of 194 companies in the Medical Diagnostics & Research industry, which is in the bottom quartile relative to peers. Overall, Natera has a GF Score™ of 80/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Natera's PB Ratio compare to WAT and A?
According to the Medical Diagnostics & Research industry distribution chart, Natera ranks #184 out of 194 companies for PB Ratio. This places Natera in the lower half of its industry. The industry median PB Ratio is 2.05. Natera's value of 20.29 is 892.2% above this benchmark. Historically, Natera's own PB Ratio has ranged from 3.07 to 349.11 over the past decade. While the company's 10-year median is 15.19 vs. the industry median of 2.05, Natera has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Medical Diagnostics & Research company?
The median PB Ratio among Medical Diagnostics & Research companies is 2.05, based on 194 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Natera's current PB Ratio of 20.29 is 892.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Natera and its competitors. For the Medical Diagnostics & Research industry, the median PB Ratio is 2.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Natera's current PB Ratio is 20.29, which is 34% above median its own 10-year median of 15.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Natera stock overvalued right now?
Based on GuruFocus' analysis, Natera (NTRA) is currently considered Modestly Overvalued. The stock's GF Value™ is $204.58, compared to a current price of $252.22 — trading 23.3% above its estimated fair value. The current PB Ratio is 20.29, which is 34% above median its 10-year median of 15.19 and 892.2% above the Medical Diagnostics & Research industry median of 2.05. Natera's overall GF Score™ is 80/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Natera (NTRA), the current PB Ratio is 20.29 as of Jul. 29, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Natera (NTRA) Overvalued in 2026?
Based on GuruFocus' analysis, Natera stock appears to be overvalued.
The current stock price of $252.22 is trading 23.3% above its estimated GF Value™ of $204.58.
GuruFocus considers Natera to be Modestly Overvalued.
Key valuation signals for NTRA:
PB Ratio: 20.29 (34% above median its 10-year median of 15.19)
GF Value™: $204.58 vs. price of $252.22 (23.3% above fair value)
Industry Position: 892.2% above the Medical Diagnostics & Research median (#184 of 194)
No single metric tells the full story. See the NTRA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Natera Inc is a diagnostic and research company with proprietary molecular and bioinformatics technology. The company's key product offerings include its Panorama Non-Invasive Prenatal Test (NIPT) which screens for chromosomal abnormalities of a fetus as well as in twin pregnancies, typically with a blood draw from the mother, Horizon Carrier Screening (HCS) to determine carrier status for a large number of severe genetic diseases that could be passed on to the carrier's children, Signatera molecular residual disease (MRD) test, which detects circulating tumor DNA in patients previously diagnosed with cancer to assess molecular residual disease and monitor for recurrence; and Prospera, to assess organ transplant rejection.
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