Healthcare · Biotechnology
Price
$512.65
Market Cap
$11.8B
Employees
528
Beta
-1.06
Avg Volume
314,714
CEO
William J. Sibold
Business Description
Madrigal Pharmaceuticals, Inc. is a biopharmaceutical company in the clinical development phase, concentrating its efforts on discovering and commercializing innovative treatments for cardiovascular, metabolic, and liver disorders. Its most advanced drug candidate, resmetirom, functions as a liver-targeted selective thyroid hormone receptor-ß agonist, currently undergoing late-stage (Phase III) clinical trials for managing non-alcoholic steatohepatitis (NASH). The company's pipeline also features MGL-3745, which serves as a secondary or backup compound to resmetirom. Madrigal holds a collaborative agreement with Hoffmann-La Roche, encompassing research, development, and commercialization activities. The company's operations are based out of West Conshohocken, Pennsylvania.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-39.89
Stock Price: $512.65
EPS (Diluted): -12.85
EPS (Diluted): -12.85
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
21.68
Stock Price: $512.65
Total Equity: $602.69M
Shares: 22,434,310
Total Equity: $602.69M
Shares: 22,434,310
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-42.46
Market Cap: $11.82B
Total Debt: $347.63M
Cash: $198.69M
EBITDA: -$264.47M
Total Debt: $347.63M
Cash: $198.69M
EBITDA: -$264.47M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$13.2B
Market Cap: $11.82B
Total Debt: $347.63M
Cash: $198.69M
Total Debt: $347.63M
Cash: $198.69M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
13.63
Stock Price: $512.65
Revenue: $958.40M
Shares: 22,434,310
Revenue: $958.40M
Shares: 22,434,310
EV/Sales (Total value vs revenue — works when P/E can't)
API13.79
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
94.1%
Gross Profit: $902.26M
Revenue: $958.40M
Revenue: $958.40M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-31.3%
Operating Income: -$300.10M
Revenue: $958.40M
Revenue: $958.40M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-30.1%
Net Income: -$288.28M
Revenue: $958.40M
Revenue: $958.40M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-50.2%
Net Income: -$288.28M
Total Equity: $602.69M
Total Equity: $602.69M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-35.2%
Operating Income: -$300.10M
Tax Rate: 0.0%
Equity: $602.69M
Total Debt: $347.63M
Cash: $198.69M
Tax Rate: 0.0%
Equity: $602.69M
Total Debt: $347.63M
Cash: $198.69M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
4.01
Current Assets: $1.25B
Current Liabilities: $310.29M
Current Liabilities: $310.29M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.58
Short-Term Debt: $1.02M
Long-Term Debt: $346.61M
Total Debt: $347.63M
Total Equity: $602.69M
Long-Term Debt: $346.61M
Total Debt: $347.63M
Total Equity: $602.69M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$42.72
Revenue: $958.40M
Shares: 22,434,310
Shares: 22,434,310
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$26.86
Total Equity: $602.69M
Shares: 22,434,310
Shares: 22,434,310
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-8.47
Operating CF: -$189.55M
CapEx: -$467,000
Shares: 22,434,310
CapEx: -$467,000
Shares: 22,434,310
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $512.65
Stock Price: $512.65
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$288.28M
Net Income: -$288.28M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares MDGL against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 7:22pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $180.1M | $958.4M |
| Cost of Revenue | $0 | $0 | $0 | $6.2M | $56.1M |
| Gross Profit | $0 | $0 | $0 | $173.9M | $902.3M |
| Operating Expenses | $242.5M | $293.6M | $380.5M | $671.8M | $1.2B |
| Operating Income | -$242.5M | -$293.6M | -$380.5M | -$497.9M | -$300.1M |
| Net Income | -$241.8M | -$295.4M | -$373.6M | -$465.9M | -$288.3M |
| EBITDA | -$241.4M | -$290.9M | -$360.4M | -$450.1M | -$264.5M |
| EPS | $-14.63 | $-17.23 | $-19.99 | $-21.90 | $-12.85 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:22pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $36.3M | $331.5M | $99.9M | $100.0M | $198.7M |
| Total Current Assets | $271.7M | $361.4M | $637.3M | $1.0B | $1.2B |
| Total Assets | $273.3M | $362.6M | $640.5M | $1.0B | $1.3B |
| Current Liabilities | $76.8M | $115.9M | $118.5M | $169.3M | $310.3M |
| Long-Term Debt | $0 | $49.3M | $115.5M | $117.6M | $346.6M |
| Total Liabilities | $77.2M | $165.2M | $235.2M | $287.9M | $656.9M |
| Total Equity | $196.1M | $197.4M | $405.3M | $754.4M | $602.7M |
| Retained Earnings | -$667.3M | -$962.7M | -$1.3B | -$1.8B | -$2.1B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 7:22pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$183.9M | -$224.9M | -$324.2M | -$455.6M | -$189.6M |
| Capital Expenditure | $-209,000 | $-217,000 | -$1.5M | -$1.5M | $-467,000 |
| Free Cash Flow | -$184.1M | -$225.1M | -$325.7M | -$457.0M | -$190.0M |
| Acquisitions (net) | $787,000 | $-3,000 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$17.7M | $295.3M | -$231.6M | $5.1M | $98.8M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 3:52am (5h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$2.2B $2.0B – $2.4B
|
$3.0B $3.0B – $3.0B
|
$4.0B $3.6B – $4.4B
|
$5.0B $4.5B – $5.5B
|
| EBITDA |
$770.5M $672.9M – $836.8M
|
$1.0B $1.0B – $1.0B
|
$1.4B $1.2B – $1.5B
|
$1.7B $1.6B – $1.9B
|
| Net Income |
$310.4M $61.2M – $323.3M
|
$791.0M $375.5M – $953.5M
|
$969.9M $856.8M – $1.1B
|
$1.4B $1.2B – $1.6B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:22pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | — | — | — | +432.1% |
| Gross Profit Growth | — | — | — | +418.8% |
| Operating Income Growth | -21.1% | -29.6% | -30.8% | +39.7% |
| Net Income Growth | -22.1% | -26.5% | -24.7% | +38.1% |
| EBITDA Growth | -20.5% | -23.9% | -24.9% | +41.2% |
Insider Trading (Recent)
Last updated: Jun 27, 2026 3:52am (5h ago)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-17 | Taub Rebecca | A-Award | 454.00 | $0.00 | $0 |
| 2026-06-17 | Taub Rebecca | A-Award | 766.00 | $499.86 | $382,893 |
| 2026-06-17 | Levy Richard S | A-Award | 454.00 | $0.00 | $0 |
| 2026-06-17 | Levy Richard S | A-Award | 766.00 | $499.86 | $382,893 |
| 2026-06-17 | FOUSE JACQUALYN A | A-Award | 454.00 | $0.00 | $0 |
| 2026-06-17 | FOUSE JACQUALYN A | A-Award | 766.00 | $499.86 | $382,893 |
| 2026-06-17 | Daly James M | A-Award | 454.00 | $0.00 | $0 |
| 2026-06-17 | Daly James M | A-Award | 766.00 | $499.86 | $382,893 |
| 2026-06-17 | Brennan Daniel J. | A-Award | 404.00 | $0.00 | $0 |
| 2026-06-17 | Brennan Daniel J. | A-Award | 681.00 | $499.86 | $340,405 |
| 2026-06-17 | BAKER BROS. ADVISORS LP | A-Award | 908.00 | $0.00 | $0 |
| 2026-06-17 | BAKER BROS. ADVISORS LP | A-Award | 908.00 | $0.00 | $0 |
| 2026-06-17 | BAKER BROS. ADVISORS LP | A-Award | 1,532.00 | $499.86 | $765,786 |
| 2026-06-01 | Soergel David | S-Sale | 1,042.00 | $495.74 | $516,561 |
| 2026-05-22 | Levy Richard S | S-Sale | 40.00 | $506.68 | $20,267 |
| 2026-05-22 | Levy Richard S | S-Sale | 320.00 | $508.24 | $162,637 |
| 2026-05-22 | Levy Richard S | S-Sale | 151.00 | $510.36 | $77,064 |
| 2026-05-22 | Levy Richard S | S-Sale | 610.00 | $511.40 | $311,952 |
| 2026-05-22 | Levy Richard S | S-Sale | 439.00 | $512.50 | $224,988 |
| 2026-05-22 | Levy Richard S | S-Sale | 40.00 | $512.97 | $20,519 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for MDGL — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30