MDGL

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Madrigal Pharmaceuticals, Inc.

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Key Metrics

Previous Close: $499.71
52-Week Range: $393.61 – $615.00
Market Cap: $11.54B
P/E (TTM): —
EPS (TTM): -12.85
Dividend Yield: 0.00%

Advanced Metrics

Price/Book: 22.02
PEG Ratio: —
Return on Equity: -53.31%
Return on Assets: -17.84%
Gross Margin: 91.48%
Operating Margin: -15.46%
Profit Margin: -25.32%
Current Ratio: 3.21
Debt/Equity: 0.66
Total Debt: $347.75M
Free Cash Flow: $-80.47M
Revenue Growth: 71.20%
Earnings Growth: —
Enterprise Value: $11.05B

MDGL Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$0.00	$0.00	$180.13M	$958.40M
Cost of Revenue	$0.00	$0.00	$6.23M	$56.15M
Gross Profit	$0.00	$0.00	$173.90M	$902.25M
Research & Development	$245.44M	$272.35M	$236.72M	$388.52M
Selling, General & Admin	$48.13M	$108.15M	$435.06M	$813.83M
Operating Expenses	$293.57M	$380.50M	$671.77M	$1.20B
Operating Income	-$293.57M	-$380.50M	-$497.88M	-$300.10M
EBITDA	-$290.92M	-$360.39M	-$450.13M	-$264.47M
Pretax Income	-$295.35M	-$373.63M	-$465.89M	-$288.28M
Net Income	-$295.35M	-$373.63M	-$465.89M	-$288.28M
Diluted EPS	-17.23	-19.99	-21.90	-12.85
Diluted Shares	17.14M	18.69M	21.27M	22.43M

MDGL Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$331.55M	$99.92M	$100.02M	$198.69M
Receivables	—	$0.00	$53.82M	$134.48M
Inventory	—	$0.00	$34.07M	$74.84M
Current Assets	$361.37M	$637.28M	$1.03B	$1.25B
Total Assets	$362.57M	$640.55M	$1.04B	$1.26B
Current Liabilities	$115.89M	$118.55M	$169.28M	$310.29M
Long-Term Debt	$49.29M	$115.48M	$117.57M	$339.88M
Total Debt	$49.89M	$117.19M	$119.57M	$347.63M
Total Liabilities	$165.18M	$235.21M	$287.86M	$656.90M
Retained Earnings	-$962.66M	-$1.34B	-$1.80B	-$2.09B
Shareholders' Equity	$197.39M	$405.33M	$754.38M	$602.69M
Working Capital	$245.47M	$518.73M	$863.65M	$935.48M
Net Debt	—	$15.56M	$17.55M	$141.19M

MDGL Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$224.86M	-$324.23M	-$455.57M	-$189.55M
Capital Expenditure	-$217.00K	-$1.48M	-$6.46M	-$3.47M
Free Cash Flow	-$225.07M	-$325.71M	-$462.03M	-$193.02M
Depreciation & Amortisation	$467.00K	$527.00K	$1.10M	$1.51M
Stock-Based Compensation	$31.63M	$49.73M	$79.88M	$98.13M
Investing Cash Flow	$206.69M	-$502.52M	-$274.39M	$32.32M
Financing Cash Flow	$313.45M	$595.12M	$735.06M	$255.98M
Net Change in Cash	$295.28M	-$231.63M	$5.10M	$98.75M

MDGL Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$212.80M	$287.27M	$321.08M	$311.34M	$364.25M
Cost of Revenue	$9.06M	$18.12M	$24.45M	$26.85M	$40.01M
Gross Profit	$203.74M	$269.15M	$296.63M	$284.49M	$324.25M
Research & Development	$54.08M	$174.00M	$116.27M	$108.69M	$91.18M
Selling, General & Admin	$196.86M	$209.12M	$239.98M	$268.52M	$289.38M
Operating Expenses	$250.94M	$383.12M	$356.24M	$377.21M	$380.55M
Operating Income	-$47.20M	-$113.97M	-$59.61M	-$92.72M	-$56.31M
EBITDA	-$38.64M	-$106.38M	-$49.89M	-$86.19M	-$49.62M
Pretax Income	-$42.28M	-$114.19M	-$58.58M	-$94.39M	-$57.94M
Net Income	-$42.28M	-$114.19M	-$58.58M	-$94.39M	-$57.94M
Diluted EPS	-1.50	-5.08	-2.57	-3.25	-1.99
Diluted Shares	28.23M	22.48M	22.83M	29.03M	29.15M

MDGL Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$186.19M	$295.69M	$198.69M	$227.03M	$292.73M
Receivables	$79.23M	$113.28M	$134.48M	$187.36M	$192.31M
Inventory	$63.50M	$69.32M	$74.84M	$112.07M	$99.39M
Current Assets	$1.00B	$1.35B	$1.25B	$1.18B	$1.20B
Total Assets	$1.02B	$1.36B	$1.26B	$1.23B	$1.24B
Current Liabilities	$196.50M	$391.41M	$310.29M	$338.26M	$374.20M
Long-Term Debt	$118.38M	$339.75M	$339.88M	$340.33M	$340.79M
Total Debt	$123.95M	$346.40M	$347.63M	$347.31M	$347.75M
Total Liabilities	$319.40M	$736.73M	$656.90M	$683.87M	$720.92M
Retained Earnings	-$1.92B	-$2.03B	-$2.09B	-$2.18B	-$2.24B
Shareholders' Equity	$695.98M	$625.73M	$602.69M	$543.45M	$523.72M
Working Capital	$806.85M	$955.27M	$935.48M	$844.05M	$824.98M
Net Debt	—	$44.06M	$141.19M	$113.30M	$48.07M

MDGL Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	-$47.05M	$79.85M	-$133.46M	-$167.44M	$23.33M
Capital Expenditure	—	—	—	-$3.85M	-$4.25M
Free Cash Flow	-$47.05M	$75.99M	-$133.07M	-$171.28M	$19.08M
Depreciation & Amortisation	$377.00K	$358.00K	$392.00K	$386.00K	$381.00K
Stock-Based Compensation	$25.16M	$26.25M	$25.79M	$34.02M	$35.37M
Investing Cash Flow	$47.86M	-$207.00M	$27.58M	$192.19M	$34.20M
Financing Cash Flow	$1.74M	$236.65M	$8.96M	$2.33M	$3.11M
Net Change in Cash	$2.55M	$109.50M	-$96.92M	$27.09M	$60.64M

Market Snapshot

About

Madrigal Pharmaceuticals, Inc. is a biopharmaceutical company developing novel therapeutics for liver diseases, including non-alcoholic steatohepatitis (NASH/MASH) and related metabolic disorders.