Natera Inc. (NTRA) exhibits 41.0% gross margins and -4.9% return on invested capital within Health Care (Medical Specialities), balanced against a 24.0x enterprise multiple and 7.2% implied options volatility.
Sustained 41.0% gross profitability converts into -13.4% operating margin and -4.9% ROIC, outpacing sector cost of capital.
ROIC: -4.9% // GM: 41.0%YoY revenue trajectory of +35.9% paired with 0.17% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +35.9% // FCF YLD: 0.17%Altman Z-Score of 26.00 and Piotroski F-Score of 7/9 indicate low near-term refinancing stress.
ALTMAN Z: 26.00 // F-SCORE: 7/9Trading at 24.0x trailing P/E (18.0x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 24.0x // EV/EBITDA: —Options market prices a ±7.2% implied move with a 0.69 put/call ratio around $427.00 max pain.
IMPL MOVE: ±7.2% // P/C: 0.69Elevated industry capital intensity and customer concentration in Medical Specialities require continuous execution to defend -9.0% net margins.
NET MARGIN: -9.0% // D/E: 0.17x| FILER | SIDE | $ VALUE |
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| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
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| INSPECT GEX & CHAIN IN OPT <GO> | ||
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