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Quest Diagnostics vs Natera: revenue, profit, margins and growth compared

Quest Diagnostics brought in $11B of revenue in fiscal 2025, Natera $2.3B in fiscal 2025. Revenue changed by +11.8% at Quest Diagnostics and +35.9% at Natera on the year before, so Natera grew faster. Quest Diagnostics kept 9.0% of its revenue as net profit, Natera -9.0%. Free cash flow was $1.4B at Quest Diagnostics and $109.1M at Natera.

Side by side, latest fiscal year

DGXNTRA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$11B$2.3B
Revenue growth+11.8%+35.9%
Net income$992M-$208.2M
Net margin9.0%-9.0%
Free cash flow$1.4B$109.1M
Free cash flow margin12.3%4.7%
Earnings per share (diluted)$8.75-$1.52
Cash$420M$1.1B
Debt$5.7Bn/a
Price to earnings27.0n/a
Market value$26.1B$59.5B
Dividend yieldn/an/a
Rank by revenue in sector#43 of 523 · Health care#101 of 523 · Health care

Over the years

Revenue
DGX FY2018: $7.5BDGX FY2019: $7.7BDGX FY2020: $9.4BDGX FY2021: $10.8BDGX FY2022: $9.9BDGX FY2023: $9.3BDGX FY2024: $9.9BDGX FY2025: $11BNTRA FY2018: $257.7MNTRA FY2019: $302.3MNTRA FY2020: $391MNTRA FY2021: $625.5MNTRA FY2022: $820.2MNTRA FY2023: $1.1BNTRA FY2024: $1.7BNTRA FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
DGX $11BNTRA $2.3B
Net income
DGX FY2018: $736MDGX FY2019: $858MDGX FY2020: $1.4BDGX FY2021: $2BDGX FY2022: $946MDGX FY2023: $854MDGX FY2024: $871MDGX FY2025: $992MNTRA FY2018: -$128.2MNTRA FY2019: -$124.8MNTRA FY2020: -$229.7MNTRA FY2021: -$471.7MNTRA FY2022: -$547.8MNTRA FY2023: -$434.8MNTRA FY2024: -$190.4MNTRA FY2025: -$208.2MFY18FY19FY20FY21FY22FY23FY24FY25
DGX $992MNTRA -$208.2M
Net margin
DGX FY2018: 9.8%DGX FY2019: 11.1%DGX FY2020: 15.2%DGX FY2021: 18.5%DGX FY2022: 9.6%DGX FY2023: 9.2%DGX FY2024: 8.8%DGX FY2025: 9.0%NTRA FY2018: -49.7%NTRA FY2019: -41.3%NTRA FY2020: -58.8%NTRA FY2021: -75.4%NTRA FY2022: -66.8%NTRA FY2023: -40.2%NTRA FY2024: -11.2%NTRA FY2025: -9.0%FY18FY19FY20FY21FY22FY23FY24FY25
DGX 9.0%NTRA -9.0%
Revenue growth
DGX FY2019: +2.6%DGX FY2020: +22.1%DGX FY2021: +14.3%DGX FY2022: -8.4%DGX FY2023: -6.4%DGX FY2024: +6.7%DGX FY2025: +11.8%NTRA FY2019: +17.3%NTRA FY2020: +29.3%NTRA FY2021: +60.0%NTRA FY2022: +31.1%NTRA FY2023: +32.0%NTRA FY2024: +56.7%NTRA FY2025: +35.9%FY19FY20FY21FY22FY23FY24FY25
DGX +11.8%NTRA +35.9%
Free cash flow
DGX FY2018: $817MDGX FY2019: $843MDGX FY2020: $1.6BDGX FY2021: $1.8BDGX FY2022: $1.3BDGX FY2023: $864MDGX FY2024: $909MDGX FY2025: $1.4BNTRA FY2018: -$74.5MNTRA FY2019: -$68.4MNTRA FY2020: -$202.1MNTRA FY2021: -$376.3MNTRA FY2022: -$479.2MNTRA FY2023: -$286.2MNTRA FY2024: $69.2MNTRA FY2025: $109.1MFY18FY19FY20FY21FY22FY23FY24FY25
DGX $1.4BNTRA $109.1M

Fiscal years as each company reports them; the two may end in different months.

Questions about Quest Diagnostics and Natera

Which is bigger by revenue, Quest Diagnostics or Natera?

Quest Diagnostics is bigger by revenue: $11B in fiscal 2025, against $2.3B for Natera in fiscal 2025.

Which keeps more of its revenue as profit, Quest Diagnostics or Natera?

Quest Diagnostics had a net margin of 9.0% in fiscal 2025; Natera had -9.0% in fiscal 2025.

Which grew revenue faster, Quest Diagnostics or Natera?

In their latest fiscal years revenue changed by +11.8% at Quest Diagnostics and +35.9% at Natera.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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