NTRA · CIK 0001604821 · FY2025 live · 2025-12-31

Natera, Inc.

DistressSEC 10-KZ″Healthcare54th percentile in Healthcare · 79 names

View as

Model

Z″

FY2025

0.87

Zone

Distress

Prior

—

Market DD

—

1y PD

—

Meridian Rank

53.18

0–100 · Z″ tape · not a PD

Book standing
45
Year change
—
Market PD
—
O-score
75

Events on this name

Same published rows as Today. Not a live recompute.

Market PD unavailable
watch · 41

0.87

Classic Z 0.94

−21.12.68+

Z″ 0.87 · distress below 1.10, grey to 2.60, safe above.

Z″ factor contributions

X1 Working capital / assets
Short-term liquidity. Carries more weight in Z″ than in classic Z.
0.44
6.56 × = 2.89
X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−1.16
3.26 × = −3.77
X3 EBIT / assets
Operating return on assets. Highest weight in Z″.
−0.13
6.72 × = −0.87
X4 Book equity / liabilities
Book equity versus the liability stack. Sales / assets is omitted so asset-light names are not punished for turnover.
2.50
1.05 × = 2.62

Five-year path

Need two annual 10-Ks to draw a path. The desk will pull this issuer’s filings rather than invent a series.

Overview

rule-v1

Natera, Inc. is on Z″ at 0.87 (distress) for FY2025, from an SEC 10-K. Retained earnings / assets is the line that sets the print; working capital / assets is the runner-up. This is the first live year on the desk. No market tape loaded. Z″ drops sales/assets so asset-light names are not punished for turnover. X4 is book equity on every name.

Book screen Distress; market PD —. Tape not priced — not a single default call.

Market DD · naive Merton

No market tape yet.

Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.

Sector peers

Closest Z″ scores · 54th percentile in Healthcare.

KPI widgets

Current assets

$1.5B

Total assets

$2.4B

Current liabilities

$441M

Total liabilities

$686M

Working capital

$1.1B

Retained earnings

−$2.8B

EBIT

−$310M

Total sales

$2.3B

Book equity

$1.7B

Accession 0001104659-26-020881. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Z″ is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 13 Sept 2026.