MDGL Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
Madrigal Pharmaceuticals, Inc. had $958M of revenue in fiscal 2025, up 432.1% on the year before.
Last close Β· Oct 23, 2026
$434.24
4.2%Hi! I read Madrigal Pharmaceuticals, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+432.1%
Yes. Sales grew 432.1% last year.
Does it make a profit?
β30.1%
No. It lost money last year.
Does profit turn into cash?
β19.8%
No. It spent more cash than it brought in.
How healthy are the accounts?
3 / 8
Weak. It passes 3 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Madrigal Pharmaceuticals, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 3, 2026
Tuesday Β· in 9 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Jul 30, 2026 | Q2 '26 | Before the market opens | 8-K β |
| May 6, 2026 | Q1 '26 | Before the market opens | 8-K β |
| Feb 19, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Nov 4, 2025 | Q3 '25 | Before the market opens | 8-K β |
| Aug 5, 2025 | Q2 '25 | Before the market opens | 8-K β |
| May 1, 2025 | Q1 '25 | Before the market opens | 8-K β |
| Jan 13, 2025 | Q4 '24 | Before the market opens | 8-K β |
| Oct 31, 2024 | Q3 '24 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Madrigal Pharmaceuticals, Inc. had $958M of revenue in fiscal 2025, up 432.1% on the year before. Its operating margin was β31.3%, up 245.1Β pts: of every 100 in sales, about β31 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
KIRA Β· Madrigal Pharmaceuticals, Inc. lost $288M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$190M in fiscal 2025, β19.8% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· Madrigal Pharmaceuticals, Inc. has $644M more cash than debt.
Cash, debt and the ratios that show how comfortably Madrigal Pharmaceuticals, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $270M | $359M | $634M | $926M | $984M |
| Debt incl. finance leases | $0.0M | $69.7M | $115M | $118M | $340M |
| Debt / equity | 0.0x | 0.4x | 0.3x | 0.2x | 0.6x |
| Interest coverage | β | β74.1x | β29.9x | β33.9x | β13.5x |
| Current ratio | 3.5x | 3.1x | 5.4x | 6.1x | 4.0x |
| Quick ratio | 3.5x | 3.1x | 5.4x | 5.9x | 3.8x |
| Total assets | $273M | $363M | $641M | $1.0B | $1.3B |
| Total liabilities | $77.2M | $165M | $235M | $288M | $657M |
| Shareholders' equity | $196M | $197M | $405M | $754M | $603M |
| Net debt (β = net cash) | β$270M | β$289M | β$519M | β$809M | β$644M |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
KIRA Β· Madrigal Pharmaceuticals, Inc. passes 3 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 6 | 3 / 7 | 1 / 7 | 1 / 7 | 1 / 7 | 2 / 8 | 4 / 8 | 5 / 8 | 3 / 8 |
| Accruals ratio | β21.3% | β7.6% | β2.2% | β9.1% | β12.3% | β20.7% | β22.2% | β9.8% | β1.2% | β8.6% |
| Altman Z'' | 3.69 | 22.32 | 64.26 | 20.23 | 1.14 | β6.58 | β8.40 | β3.67 | β0.66 | β1.18 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $180M | $958M |
| Gross profit | β | β | β | β | β | β | $0.0M | $0.0M | $174M | β |
| Research and development | $15.9M | $24.4M | $25.4M | $72.3M | $185M | $205M | $245M | $272M | $237M | $389M |
| Operating income | β$25.2M | β$32.1M | β$40.7M | β$95.0M | β$207M | β$242M | β$294M | β$380M | β$498M | β$300M |
| Interest expense | $1.2M | β | β | β | $0.0M | $0.0M | $4.0M | $12.7M | $14.7M | $22.3M |
| Pretax income | β | β | β | β | β | β | β | β$374M | β$466M | β$159M |
| Income tax | β | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | β$26.4M | β$31.2M | β$32.8M | β$83.9M | β$202M | β$242M | β$295M | β$374M | β$466M | β$288M |
| Net income to common | β$26.4M | β$31.2M | β | β | β | β | β | β | β | β |
| Diluted EPS | β$5.07 | β$2.54 | β$2.22 | β$5.45 | β$13.09 | β$14.63 | β$17.23 | β$17.33 | β$17.31 | β$10.15 |
| Diluted shares | 0.01B | 0.01B | 0.01B | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.03B | 0.03B |
| Cash flow | ||||||||||
| Cash from operations | β$17.6M | β$22.3M | β$25.5M | β$41.6M | β$158M | β$184M | β$225M | β$324M | β$456M | β$190M |
| Capital expenditure | $0.0M | $0.1M | $0.0M | $0.2M | $0.3M | $0.2M | $0.2M | $1.5M | $1.5M | $0.5M |
| Free cash flow | β$17.6M | β$22.4M | β$25.5M | β$41.8M | β$158M | β$184M | β$225M | β$326M | β$457M | β$190M |
| Depreciation and amortization | $0.0M | $0.1M | $0.1M | $0.1M | $0.5M | $0.4M | $0.5M | $0.5M | $1.1M | $1.5M |
| Stock-based compensation | $7.9M | $3.3M | $13.5M | $22.8M | $20.7M | $26.9M | $31.6M | $49.7M | $79.9M | $98.1M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $19.1M | $192M | $484M | $439M | $284M | $270M | $359M | $634M | $926M | $984M |
| Total debt | β | β | β | β | β | $0.0M | $69.7M | $115M | $118M | $340M |
| Current assets | $41.2M | $192M | $485M | $440M | $285M | $272M | $361M | $637M | $1.0B | $1.2B |
| Current liabilities | $4.8M | $10.1M | $8.4M | $25.1M | $46.6M | $76.8M | $116M | $119M | $169M | $310M |
| Inventory | β | β | β | β | β | β | β | $0.0M | $34.1M | $74.8M |
| Property and equipment, net | $0.0M | $0.3M | $0.2M | $1.2M | $1.0M | $0.9M | $0.6M | $1.6M | $2.2M | $1.5M |
| Intangible assets | β | β | β | β | β | β | β | $0.0M | $4.7M | $7.4M |
| Total assets | $41.2M | $192M | $485M | $442M | $287M | $273M | $363M | $641M | $1.0B | $1.3B |
| Total liabilities | $4.8M | $10.1M | $8.4M | $25.5M | $47.0M | $77.2M | $165M | $235M | $288M | $657M |
| Preferred stock | β | β | β | β | β | β | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $36.4M | $182M | $477M | $417M | $240M | $196M | $197M | $405M | $754M | $603M |
| Margins | ||||||||||
| Gross margin | β | β | β | β | β | β | β | β | 96.5% | β |
| Operating margin | β | β | β | β | β | β | β | β | β276.4% | β31.3% |
| EBITDA margin | β | β | β | β | β | β | β | β | β275.8% | β31.2% |
| Net margin | β | β | β | β | β | β | β | β | β258.6% | β30.1% |
| FCF margin | β | β | β | β | β | β | β | β | β253.7% | β19.8% |
| Returns | ||||||||||
| Return on capital employed | β69.3% | β17.6% | β8.5% | β22.8% | β86.0% | β123.4% | β119.0% | β72.9% | β57.0% | β31.6% |
| Return on equity | β72.5% | β28.5% | β10.0% | β18.8% | β61.6% | β110.9% | β150.1% | β124.0% | β80.3% | β42.5% |
| Return on assets | β64.0% | β26.7% | β9.7% | β18.1% | β55.5% | β86.3% | β92.9% | β74.5% | β55.4% | β25.0% |
| Return on tangible equity | β72.5% | β17.1% | β6.9% | β20.2% | β84.3% | β123.3% | β149.6% | β92.2% | β62.1% | β48.4% |
| Growth | ||||||||||
| Revenue growth | β | β | β | β | β | β | β | β | β | 432.1% |
| Share count change | β | 135.3% | 20.8% | 4.0% | 0.3% | 7.0% | 3.6% | 25.8% | 24.8% | 5.6% |
| Financial health | ||||||||||
| Debt / equity | β | β | β | β | β | 0.0x | 0.4x | 0.3x | 0.2x | 0.6x |
| Interest coverage | β20.8x | β | β | β | β | β | β74.1x | β29.9x | β33.9x | β13.5x |
| Current ratio | 8.6x | 19.1x | 57.5x | 17.5x | 6.1x | 3.5x | 3.1x | 5.4x | 6.1x | 4.0x |
| Quick ratio | 8.6x | 19.1x | 57.5x | 17.5x | 6.1x | 3.5x | 3.1x | 5.4x | 5.9x | 3.8x |
| Capital allocation | ||||||||||
| Capex / revenue | β | β | β | β | β | β | β | β | 0.8% | 0.0% |
| Stock comp / revenue | β | β | β | β | β | β | β | β | 44.3% | 10.2% |
| Quality scores | ||||||||||
| Piotroski F-score | β | β | 3.0 | 1.0 | 1.0 | 1.0 | 2.0 | 4.0 | 5.0 | 3.0 |
| Altman Z'' | 3.7 | 22.3 | 64.3 | 20.2 | 1.1 | β6.6 | β8.4 | β3.7 | β0.7 | β1.2 |
| Accruals ratio | β21.3% | β7.6% | β2.2% | β9.1% | β12.3% | β20.7% | β22.2% | β9.8% | β1.2% | β8.6% |
Source: SEC EDGAR XBRL filings (CIK 0001157601). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
