Natera, Inc.

DB:45E Stock Report

Market Cap: €23.9b

Natera Valuation

Is 45E undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of 45E when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

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Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: 45E (€170) is trading below our estimate of future cash flow value (€202.68)

Significantly Below Future Cash Flow Value: 45E is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 45E?

Key metric: As 45E is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 45E. This is calculated by dividing 45E's market cap by their current revenue.
What is 45E's PS Ratio?
PS Ratio12x
SalesUS$2.31b
Market CapUS$27.68b

Price to Sales Ratio vs Peers

How does 45E's PS Ratio compare to its peers?

The above table shows the PS ratio for 45E vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.7x
BIO3 Biotest
1.8xn/a€1.4b
BIO3 Biotest
2xn/a€1.3b
FYB Formycon
6.3x36.30%€301.4m
BAYN Bayer
0.8x2.20%€37.7b
45E Natera
12x14.83%€27.7b

Price-To-Sales vs Peers: 45E is expensive based on its Price-To-Sales Ratio (12x) compared to the peer average (2.7x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does 45E's PS Ratio compare vs other companies in the DE Biotechs Industry?

14 CompaniesPrice / SalesEstimated GrowthMarket Cap
BIO3 Biotest
1.8xn/aUS$1.63b
BIO3 Biotest
2xn/aUS$1.56b
7V0 Darwin
4x27.59%US$125.53m
2INV 2invest
2.2xn/aUS$72.67m
45E 12.0xIndustry Avg. 7.5xNo. of Companies14PS01632486480+
14 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 45E is expensive based on its Price-To-Sales Ratio (12x) compared to the European Biotechs industry average (7.5x).

Price to Sales Ratio vs Fair Ratio

What is 45E's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

45E PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio12x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 45E's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 45E forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€170.00
€226.35
+33.15%
10.02%€260.52€165.00n/a20
Mar ’27€180.00
€220.70
+22.61%
10.16%€253.77€160.72n/a20
Feb ’27€191.00
€215.30
+12.72%
10.80%€251.13€155.70n/a20
Jan ’27€197.00
€209.45
+6.32%
9.94%€242.39€158.19n/a19
Dec ’26n/a
€202.98
0%
8.84%€242.17€160.87n/a19
Nov ’26n/a
€174.87
0%
7.58%€203.86€149.21n/a19
Oct ’26n/a
€165.16
0%
19.89%€200.27€31.53n/a20
Sep ’26n/a
€168.78
0%
20.47%€217.59€31.57n/a20
Aug ’26n/a
€165.81
0%
20.43%€217.27€32.03n/a20
Jul ’26n/a
€163.67
0%
20.14%€213.10€31.41n/a20
Jun ’26n/a
€170.05
0%
19.94%€222.41€32.79n/a21
May ’26n/a
€165.57
0%
20.14%€221.38€32.63n/a21
Apr ’26n/a
€175.18
0%
19.71%€231.87€34.18n/a21
Mar ’26n/a
€177.55
0%
20.74%€203.45€35.68€180.0019
Feb ’26n/a
€173.20
0%
20.40%€201.31€35.47€191.0020
Jan ’26n/a
€161.38
0%
21.05%€198.88€35.21€197.0019
Dec ’25n/a
€157.85
0%
20.46%€199.49€35.32n/a19
Nov ’25n/a
€123.39
0%
18.59%€142.72€34.07n/a19
Oct ’25n/a
€117.15
0%
18.79%€134.72€33.23n/a18
Sep ’25n/a
€115.64
0%
18.55%€134.12€33.08n/a18
Aug ’25n/a
€113.89
0%
18.71%€147.09€34.01n/a18
Jul ’25n/a
€113.31
0%
18.86%€146.80€33.95n/a18
Jun ’25n/a
€113.12
0%
19.21%€147.86€34.19n/a17
May ’25n/a
€96.81
0%
19.41%€126.74€34.74n/a17
Apr ’25n/a
€89.92
0%
17.63%€108.93€34.45n/a17
Mar ’25n/a
€84.67
0%
19.11%€107.97€34.14n/a16
€226.91
Fair Value
25.1% undervalued intrinsic discount
20
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/21 00:05
End of Day Share Price 2026/03/20 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Natera, Inc. is covered by 29 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Catherine Ramsey SchulteBaird
Luke SergottBarclays
Raymond MyersBenchmark Company