MDGL
$499.40-0.06%
as of close, Oct 2, 2026
☾ AH $499.40 -0.06%
Madrigal Pharmaceuticals Inc.Stock · Health CareNasdaq Composite 0.02%Russell 1000 0.01%US Stock Market 0.01%Russell 3000 0.01%
MDGL financial statements
The full income statement, balance sheet, and cash-flow statement for Madrigal Pharmaceuticals Inc. (MDGL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 21.7M2024-09 21.8M2024-12 22.1M2025-03 22.2M2025-06 22.3M2025-09 22.7M2025-12 22.9M2026-03 23.1M2026-06 23.1M+6.4% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 958M+432.1% | 180M | 0.00 | 0.00 | 0.00 | |
| Cost of revenue | — | 6.23M | 0.00 | 0.00 | — | |
| 1.26B+85.6% | 678M+78.2% | 380M+29.6% | 294M+21.1% | 242M+17.3% | ||
| Research & development | 389M+64.1% | 237M-13.1% | 272M+11.0% | 245M+19.6% | 205M+11.0% | |
| Selling, general & administrative | 814M+87.1% | 435M+302.3% | 108M+124.7% | 48.1M+29.0% | 37.3M+70.7% | |
| General & administrative | — | — | 108M+124.7% | 48.1M+29.0% | 37.3M+70.7% | |
| Provision for credit losses | 0.00 | 0.00 | — | — | — | |
| Operating income | -300M+39.7% | -498M-30.8% | -380M-29.6% | -294M-21.1% | -242M-17.3% | |
| Interest expense | 22.3M+52.1% | 14.7M+15.4% | 12.7M+220.7% | 3.96M | 0.00 | |
| Interest & investment income | 37.4M-19.9% | 46.7M+138.3% | 19.6M+796.0% | 2.19M+501.9% | 363K | |
| Other non-operating income | -463K | 0.00 | 0.00 | — | — | |
| Income tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net income | -288M+38.1% | -466M-24.7% | -374M-26.5% | -295M-22.1% | -242M-19.6% | |
| -$10.15+41.4% | -$17.31+0.1% | -$17.33-0.6% | -$17.23-17.8% | -$14.63-11.8% | ||
| EPS (basic) | -$10.15+41.4% | -$17.31+0.1% | -$17.33-0.6% | -$17.23-17.8% | -$14.63-11.8% | |
| Weighted-avg shares (basic) | 28.4M+5.6% | 26.9M+24.8% | 21.6M+25.8% | 17.1M+3.6% | 16.5M+7.0% | |
| Weighted-avg shares (diluted) | 28.4M+5.6% | 26.9M+24.8% | 21.6M+25.8% | 17.1M+3.6% | 16.5M+7.0% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.25B+20.6% | 1.03B+62.1% | 637M+76.4% | 361M+33.0% | 272M-4.7% | ||
| Cash & equivalents | 199M+98.7% | 100M+0.1% | 99.9M-69.9% | 332M+814.1% | 36.3M-32.8% | |
| Cash & short-term investments | — | 931M+46.9% | 634M+76.7% | 359M | — | |
| Accounts receivable | 134M+149.9% | 53.8M | 0.00 | — | — | |
| Inventory | 74.8M+119.7% | 34.1M | 0.00 | — | — | |
| Prepaid expenses | 47.8M+246.8% | 13.8M+337.7% | 3.15M+21.4% | 2.60M+93.9% | 1.34M+32.0% | |
| 1.26B+20.9% | 1.04B+62.7% | 641M+76.7% | 363M+32.6% | 273M-4.8% | ||
| Property, plant & equipment | 1.50M-31.6% | 2.19M+41.0% | 1.55M+158.4% | 601K-29.4% | 851K-18.7% | |
| Operating lease right-of-use | 4.94M+105.7% | 2.40M+40.2% | 1.71M+184.6% | 602K-24.5% | 797K+1.5% | |
| Intangible assets | 7.38M+56.1% | 4.73M | 0.00 | — | — | |
| Other non-current assets | 0.00 | — | — | — | — | |
| 310M+83.3% | 169M+42.8% | 119M+2.3% | 116M+50.8% | 76.8M+65.0% | ||
| Accounts payable | 48.9M+12.1% | 43.6M+55.5% | 28.0M+17.7% | 23.8M+11.5% | 21.4M+2002.3% | |
| Accrued liabilities | 260M+108.8% | 125M+38.6% | 90.0M-1.6% | 91.5M+66.1% | 55.0M+21.7% | |
| Current lease liability | 1.02M+3.6% | 983K+86.5% | 527K-12.5% | 602K+46.8% | 410K+28.9% | |
| 657M+128.2% | 288M+22.4% | 235M+42.4% | 165M+113.9% | 77.2M+64.2% | ||
| Long-term debt | 340M+189.1% | 118M+1.8% | 115M+134.3% | 49.3M | 0.00 | |
| Non-current lease liability | 6.73M+561.2% | 1.02M-14.2% | 1.19M | 0.00-100.0% | 387K-17.3% | |
| Operating lease liability (total) | 7.75M+287.3% | 2.00M+16.8% | 1.71M+184.6% | 602K-24.5% | 797K+1.4% | |
| Total non-current liabilities | 347M+192.3% | 119M+1.6% | 117M+136.7% | 49.3M+12636.2% | 387K-17.3% | |
| 603M-20.1% | 754M+86.1% | 405M+105.3% | 197M+0.7% | 196M-18.3% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Common stock | 2.00K+0.0% | 2.00K+0.0% | 2.00K+0.0% | 2.00K+0.0% | 2.00K+0.0% | |
| Additional paid-in capital | 2.69B+5.3% | 2.56B+46.8% | 1.74B+50.1% | 1.16B+34.3% | 863M+29.8% | |
| Retained earnings | -2.09B-16.0% | -1.80B-34.9% | -1.34B-38.8% | -963M-44.3% | -667M-56.8% | |
| Accumulated other comprehensive income | 873K+86.5% | 468K+0.0% | 468K+1562.5% | -32.0K+60.0% | -80.0K-270.2% | |
| Total liabilities & equity | 1.26B+20.9% | 1.04B+62.7% | 641M+76.7% | 363M+32.6% | 273M-4.8% | |
| Common shares issued | 22.8M+3.8% | 22.0M+10.7% | 19.9M+9.8% | 18.1M+5.8% | 17.1M+10.3% | |
| Common shares outstanding | 22.8M+3.8% | 22.0M+10.7% | 19.9M+9.8% | 18.1M+5.8% | 17.1M+10.3% | |
| Shares outstanding (cover) | 22.9M+3.9% | 22.1M+11.0% | 19.9M+9.7% | 18.1M+6.0% | 17.1M+6.7% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -190M+58.4% | -456M-40.5% | -324M-44.2% | -225M-22.3% | -184M-16.7% | ||
| Depreciation & amortization | 1.51M+37.4% | 1.10M+108.0% | 527K+12.8% | 467K+15.3% | 405K-14.0% | |
| Share-based compensation | 98.1M+22.8% | 79.9M+60.6% | 49.7M+57.3% | 31.6M+17.7% | 26.9M+29.6% | |
| Change in receivables | 80.7M+49.9% | 53.8M | 0.00 | 0.00 | — | |
| Change in inventory | 37.0M+8.5% | 34.1M | 0.00 | 0.00 | — | |
| 32.3M+111.8% | -274M+45.4% | -503M-343.1% | 207M+4188.7% | -5.05M-103.2% | ||
| Capital expenditure | 467K-68.1% | 1.46M-1.1% | 1.48M+581.6% | 217K+3.8% | 209K-37.4% | |
| Free cash flow | -190M+58.4% | -457M-40.3% | -326M-44.7% | -225M-22.2% | -184M-16.6% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Sales/maturities of investments | — | — | — | 350M-10.0% | 389M-20.5% | |
| 256M-65.2% | 735M+23.5% | 595M+89.9% | 313M+83.1% | 171M+3265.5% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | 98.8M+1835.0% | 5.10M+102.2% | -232M-178.4% | 295M+1765.0% | -17.7M | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 13.4B+96.1% | 6.81B+49.2% | 4.57B-8.0% | 4.96B+242.5% | 1.45B-18.6% | |
| P/S | 13.9×-63.1% | 37.8× | — | — | — | |
| P/B | 22.2×+145.4% | 9.0×-95.6% | 205.3×-55.9% | 465.3×+6195.2% | 7.4×-0.4% | |
| Source filing | 10-K | 10-K | 10-K | 10-K/A | 10-K |
About this data
Source: MDGL’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MDGL filings on SEC EDGAR → Not investment advice.