Madrigal Pharmaceuticals, Inc. (MDGL) Financial Statements
Industry: Pharmaceutical Preparations
In fiscal 2025, Madrigal Pharmaceuticals reported revenue of $958.4M, up 432.1% from $180.1M the year before. Net income was -$288.3M (a -30.1% net margin), or -$12.85 per diluted share. Operating margin was -31.3%. Operating activities generated -$189.6M of cash, leaving -$190.0M of free cash flow. At fiscal year end, Madrigal Pharmaceuticals held $1.26B in total assets against $656.9M in total liabilities, including $198.7M of cash and equivalents.
Open the full interactive Madrigal Pharmaceuticals financials → Quarterly statements, key ratios, valuation history and price charts.
Madrigal Pharmaceuticals Key Stats
| Share Price | $452.12 |
|---|---|
| Market Cap | $13.18B |
| Revenue YoY Growth | +432.1% |
| 52-Week Range | $412.35 – $602.83 |
| Shares Outstanding | 29.1 million (basic, 2026 Q2) |
Madrigal Pharmaceuticals Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | — | $0 | $180.1M | $958.4M |
| Cost of Goods Sold | — | — | — | — | $6.2M | — |
| Gross Profit | — | — | — | — | $173.9M | — |
| Operating Income | -$206.7M | -$242.5M | -$293.6M | -$380.5M | -$497.9M | -$300.1M |
| Pre-Tax Income | -$202.2M | -$241.8M | -$295.4M | -$373.6M | -$465.9M | -$288.3M |
| Income Tax | — | — | $0 | $0 | $0 | $0 |
| Net Income | -$202.2M | -$241.8M | -$295.4M | -$373.6M | -$465.9M | -$288.3M |
| Diluted EPS | -$13.09 | -$14.63 | -$17.23 | -$19.99 | -$21.90 | -$12.85 |
Madrigal Pharmaceuticals Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $287.3M | $321.1M | $311.3M | $364.3M |
| Net Income | -$114.2M | -$58.6M | -$94.4M | -$57.9M |
| Diluted EPS | -$5.08 | -$2.61 | -$3.25 | -$1.99 |
Madrigal Pharmaceuticals Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $54.0M | $36.3M | $331.5M | $99.9M | $100.0M | $198.7M |
| Current Assets | $285.2M | $271.7M | $361.4M | $637.3M | $1.03B | $1.25B |
| Total Assets | $287.0M | $273.3M | $362.6M | $640.5M | $1.04B | $1.26B |
| Current Liabilities | $46.6M | $76.8M | $115.9M | $118.5M | $169.3M | $310.3M |
| Total Long-Term Debt | — | — | $69.7M | $115.5M | $117.6M | $339.9M |
| Total Liabilities | $47.0M | $77.2M | $165.2M | $235.2M | $287.9M | $656.9M |
| Shareholders' Equity | $240.0M | $196.1M | $197.4M | $405.3M | $754.4M | $602.7M |
Madrigal Pharmaceuticals Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$157.6M | -$183.9M | -$224.9M | -$324.2M | -$455.6M | -$189.6M |
| Cash From Investing | $159.8M | -$5.1M | $206.7M | -$502.5M | -$274.4M | $32.3M |
| Cash From Financing | $5.1M | $171.2M | $313.5M | $595.1M | $735.1M | $256.0M |
| Free Cash Flow | -$157.9M | -$184.1M | -$225.1M | -$325.7M | -$457.0M | -$190.0M |
Figures from Madrigal Pharmaceuticals' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Madrigal Pharmaceuticals financials page for every line item.
Madrigal Pharmaceuticals Company Profile
| Ticker | MDGL |
|---|---|
| Exchange | Nasdaq |
| Industry | Pharmaceutical Preparations |
| Headquarters | West Conshohocken, Pennsylvania |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001157601 |
Frequently Asked Questions
What was Madrigal Pharmaceuticals' revenue in fiscal 2025?
Madrigal Pharmaceuticals (MDGL) reported revenue of $958.4M for fiscal 2025.
What is Madrigal Pharmaceuticals' annual revenue history?
Madrigal Pharmaceuticals' annual revenue by fiscal year: 2020: $0; 2021: $0; 2023: $0; 2024: $180.1M; 2025: $958.4M.
What was Madrigal Pharmaceuticals' net income in fiscal 2025?
Madrigal Pharmaceuticals reported net income of -$288.3M for fiscal 2025.
What was Madrigal Pharmaceuticals' earnings per share (EPS) in fiscal 2025?
Madrigal Pharmaceuticals' diluted EPS was -$12.85 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Madrigal Pharmaceuticals generate in fiscal 2025?
Madrigal Pharmaceuticals generated -$190.0M of free cash flow in fiscal 2025.
What was Madrigal Pharmaceuticals' revenue last quarter?
In its most recent reported quarter (2026 Q2), Madrigal Pharmaceuticals reported revenue of $364.3M.
How much debt does Madrigal Pharmaceuticals have?
Madrigal Pharmaceuticals reported $339.9M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Madrigal Pharmaceuticals are outstanding?
Madrigal Pharmaceuticals reported a weighted average of 29.1 million basic shares outstanding in 2026 Q2.
What is Madrigal Pharmaceuticals' market cap?
Based on its latest closing price, Madrigal Pharmaceuticals (MDGL) has a market capitalization of about $13.18B.
When does Madrigal Pharmaceuticals' fiscal year end?
Madrigal Pharmaceuticals' fiscal year end, as registered with the SEC, is December 31.
Where is Madrigal Pharmaceuticals headquartered?
Madrigal Pharmaceuticals lists its business address in West Conshohocken, Pennsylvania in its SEC filings.