MADRIGAL PHARMACEUTICALS, INC. financials
Source: EDGAR filings · Built 2026-06-02T03:31:46Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -190.02M | -457.03M | -325.71M | -225.07M | -184.13M | -157.90M |
| EBITDA | -298.59M | -496.78M | -379.97M | -293.10M | -242.08M | -206.20M |
| Working Capital | 935.48M | 863.65M | 518.73M | 245.47M | 194.85M | 238.61M |
| Net Debt | 148.94M | 19.55M | 17.28M | -261.27M | -35.47M | -53.22M |
| Gross Margin | — | 96.54% | — | — | — | — |
| Operating Margin | -31.31% | -276.39% | — | — | — | — |
| Net Margin | -30.08% | -258.64% | — | — | — | — |
| Return on Equity (ROE) | -47.83% | -61.76% | -92.18% | -149.63% | -123.32% | -84.28% |
| Return on Assets (ROA) | -22.89% | -44.70% | -58.33% | -81.46% | -88.48% | -70.47% |
| Current Ratio | 4.01× | 6.10× | 5.38× | 3.12× | 3.54× | 6.13× |
| Debt-to-Equity | 0.58× | 0.16× | 0.29× | 0.36× | 0.00× | 0.00× |
| Cash Conversion Ratio | 0.66× | 0.98× | 0.87× | 0.76× | 0.76× | 0.78× |
| Accruals Ratio | -0.08× | -0.01× | -0.08× | -0.19× | -0.21× | -0.16× |
| SBC % of Revenue | 10.24% | 44.34% | — | — | — | — |
| CapEx Coverage | -405.90× | -311.61× | -219.22× | -1036.21× | -879.99× | -471.74× |
| Free Cash Flow Per Share | $-6.69 | $-16.98 | $-15.11 | $-13.13 | $-11.14 | $-10.22 |
Valuation Metrics
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 958.40M | 180.13M | 0 | 0 | — | — |
| Revenues | — | 180.13M | 0 | 0 | 0 | 0 |
| Cost of Goods and Services Sold | — | 6.23M | 0 | 0 | — | — |
| Selling, General and Administrative Expense | 813.83M | 435.06M | 108.15M | 48.13M | — | — |
| Operating Expenses | 1.26B | 678.01M | 380.50M | 293.57M | 242.48M | 206.67M |
| Operating Income (Loss) | -300.10M | -497.88M | -380.50M | -293.57M | -242.48M | -206.67M |
| Income Tax Expense (Benefit) | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income (Loss) Attributable to Parent | -288.28M | -465.89M | -373.63M | -295.35M | -241.85M | -202.24M |
| Earnings Per Share, Basic | $-10.15 | $-17.31 | $-17.33 | $-17.23 | $-14.63 | $-13.09 |
| Weighted Average Number of Shares Outstanding, Basic | 28.41M | 26.91M | 21.56M | 17.14M | 16.54M | 15.45M |
| Earnings Per Share, Diluted | $-10.15 | $-17.31 | $-17.33 | $-17.23 | $-14.63 | $-13.09 |
| Weighted Average Number of Shares Outstanding, Diluted | 28.41M | 26.91M | 21.56M | 17.14M | 16.54M | 15.45M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 198.69M | 100.02M | 99.92M | 331.55M | 36.27M | 54.00M |
| Assets, Current | 1.25B | 1.03B | 637.28M | 361.37M | 271.68M | 285.16M |
| Assets | 1.26B | 1.04B | 640.55M | 362.57M | 273.33M | 287.00M |
| Long-term Debt | 339.88M | 117.57M | 115.48M | 69.67M | — | — |
| Liabilities, Current | 310.29M | 169.28M | 118.55M | 115.89M | 76.84M | 46.56M |
| Long-term Debt, Excluding Current Maturities | 339.88M | 117.57M | 115.48M | 49.29M | 0 | — |
| Liabilities | 656.90M | 287.86M | 235.21M | 165.18M | 77.22M | 47.02M |
| Stockholders' Equity Attributable to Parent | 602.69M | 754.38M | 405.33M | 197.39M | 196.11M | 239.97M |
| Common Stock, Shares, Outstanding | 22.84M | 22.00M | 19.88M | 18.10M | 17.10M | 15.51M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -189.55M | -455.57M | -324.23M | -224.86M | -183.92M | -157.56M |
| Payments to Acquire Property, Plant, and Equipment | 467.00K | 1.46M | 1.48M | 217.00K | 209.00K | 334.00K |
| Net Cash Provided by (Used in) Investing Activities | 32.32M | -274.39M | -502.52M | 206.69M | -5.05M | 159.78M |
| Net Cash Provided by (Used in) Financing Activities | 255.98M | 735.06M | 595.12M | 313.45M | 171.24M | 5.09M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -171.28M | -133.07M | -56.95M | -135.94M | -88.89M | -104.68M |
| EBITDA | -92.34M | -59.22M | — | — | -78.93M | -66.63M |
| Working Capital | 844.05M | 935.48M | 955.27M | 806.85M | 820.74M | 863.65M |
| Net Debt | 120.28M | 148.94M | 50.71M | -62.24M | -63.88M | 19.55M |
| Gross Margin | — | — | — | — | 96.71% | — |
| Operating Margin | -29.78% | -18.57% | -39.68% | -22.18% | -57.79% | -64.84% |
| Net Margin | -30.32% | -18.24% | -39.75% | -19.87% | -53.36% | -57.51% |
| Return on Equity (ROE) | -17.37% | -9.72% | -18.25% | -6.08% | -10.31% | -7.88% |
| Return on Assets (ROA) | -7.69% | -4.65% | -8.38% | -4.16% | -7.35% | -5.70% |
| Current Ratio | 3.50× | 4.01× | 3.44× | 5.11× | 5.91× | 6.10× |
| Debt-to-Equity | 0.64× | 0.58× | 0.55× | 0.18× | 0.17× | 0.16× |
| Cash Conversion Ratio | 1.77× | 2.28× | 0.49× | 3.22× | 1.21× | 1.76× |
| Accruals Ratio | 0.06× | 0.06× | -0.04× | 0.09× | 0.02× | 0.04× |
| SBC % of Revenue | 10.93% | 8.03% | 25.18% | 21.66% | 15.25% | 17.11% |
| CapEx Coverage | -43.50× | 342.21× | -65.45× | — | — | -535.83× |
| Free Cash Flow Per Share | $-5.90 | $-4.68 | $-2.00 | $-4.82 | $-3.17 | $-3.89 |
Valuation Metrics
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 311.34M | 321.08M | 287.27M | 212.80M | 137.25M | 103.32M |
| Revenues | — | — | — | — | 137.25M | — |
| Cost of Goods and Services Sold | — | — | — | — | 4.51M | — |
| Selling, General and Administrative Expense | 268.52M | 239.98M | 209.12M | 196.86M | 167.88M | 141.22M |
| Operating Expenses | 404.06M | 380.69M | 401.24M | 260.00M | 216.56M | 170.32M |
| Operating Income (Loss) | -92.72M | -59.61M | -113.97M | -47.20M | -79.31M | -67.00M |
| Net Income (Loss) Attributable to Parent | -94.39M | -58.58M | -114.19M | -42.28M | -73.24M | -59.42M |
| Earnings Per Share, Basic | $-3.25 | $-2.03 | $-4.01 | $-1.50 | $-2.61 | $2.00 |
| Weighted Average Number of Shares Outstanding, Basic | 29.03M | 28.41M | 28.51M | 28.23M | 28.09M | 26.91M |
| Earnings Per Share, Diluted | $-3.25 | $-2.03 | $-4.01 | $-1.50 | $-2.61 | $2.00 |
| Weighted Average Number of Shares Outstanding, Diluted | 29.03M | 28.41M | 28.51M | 28.23M | 28.09M | 26.91M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 227.03M | 198.69M | 295.69M | 186.19M | 183.65M | 100.02M |
| Assets, Current | 1.18B | 1.25B | 1.35B | 1.00B | 987.98M | 1.03B |
| Assets | 1.23B | 1.26B | 1.36B | 1.02B | 996.63M | 1.04B |
| Long-term Debt | 340.33M | 339.88M | 339.75M | 118.38M | 118.00M | 117.57M |
| Liabilities, Current | 338.26M | 310.29M | 391.41M | 196.50M | 167.24M | 169.28M |
| Long-term Debt, Excluding Current Maturities | 340.33M | 339.88M | 339.75M | 118.38M | 118.00M | 117.57M |
| Liabilities | 683.87M | 656.90M | 736.73M | 319.40M | 285.99M | 287.86M |
| Stockholders' Equity Attributable to Parent | 543.45M | 602.69M | 625.73M | 695.98M | 710.64M | 754.38M |
| Common Stock, Shares, Outstanding | 23.04M | 22.84M | 22.70M | 22.22M | 22.19M | 22.00M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -167.44M | -133.46M | -56.09M | -135.94M | -88.89M | -104.49M |
| Payments to Acquire Property, Plant, and Equipment | 3.85M | -390.00K | 857.00K | 0 | 0 | 195.00K |
| Net Cash Provided by (Used in) Investing Activities | 192.19M | 27.58M | 4.74M | 211.74M | 163.88M | -47.95M |
| Net Cash Provided by (Used in) Financing Activities | 2.33M | 8.96M | 247.03M | 10.38M | 8.64M | 19.77M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (MDGL CIK 0001157601),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.