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Nasdaq · Healthcare

MADRIGAL PHARMACEUTICALS, INC. (MDGL)

As-reported financials and SEC filings for MADRIGAL PHARMACEUTICALS, INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About MADRIGAL PHARMACEUTICALS, INC.

Madrigal Pharmaceuticals, Inc. is a biopharmaceutical company that develops treatments for metabolic dysfunction-associated steatohepatitis (MASH), a serious liver disease. Its main product, Rezdiffra (resmetirom), is an oral medication approved in the United States and Europe for adults with noncirrhotic MASH with moderate to advanced liver fibrosis. The company also develops additional drug candidates targeting MASH, including oral GLP-1 receptor agonists, DGAT2 inhibitors, and siRNA programs.

Snapshot

Revenue
$958.4M
Revenue growth (YoY)
432.1%
Net income
$-288.3M
Diluted EPS
$-12.85
Gross margin
Operating margin
-31.3%
Net margin
-30.1%
FCF margin
-19.8%
ROE
-47.8%
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
$12.33B
Long-term debt / equity
0.56×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Madrigal Pharmaceuticals

  • Revenue grew 432.1% to $958M in FY2025.
  • Most recent quarter Q2 FY2026: revenue $364M, up 71.2% from Q2 FY2025.
  • Free cash flow was negative $190M in FY2025.
  • Net loss narrowed to $288M in FY2025, from $466M in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Madrigal Pharmaceuticals’s fundamentals sit among the 198 pharmaceutical companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin-31.3%
21st percentile of 113
Net margin-30.1%
22nd percentile of 122
FCF margin-19.8%
21st percentile of 110
Revenue growth (YoY)+432.1%
93rd percentile of 187
ROE-47.8%
31st percentile of 167
Long-term debt / equity0.56×
54th percentile of 64
Short interest6.05d
48th percentile of 197

Madrigal Pharmaceuticals’s revenue growth of +432.1% ranks in the 93rd percentile of the 187 pharmaceutical companies reporting it.

No reported insider purchases (code P) in the last 90 days; 11 insider sales totaling $1.7M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 7 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+7 quant / multi-strat
Initiated / added
4
1 new, 3 added
Reduced / exited
4
3 trimmed, 1 exited
Combined position
$441.8M
reported long value
InvestorAs ofPosition valueSharesChange
Citadel AdvisorsquantQ2 2026$272.4M507.2KAdded
Point72 Asset ManagementquantQ2 2026$73.6M137.0KReduced
Millennium ManagementquantQ2 2026$43.6M81.2KAdded
Renaissance TechnologiesquantQ2 2026$24.7M45.9KReduced
D. E. ShawquantQ2 2026$18.8M35.1KAdded
AQR Capital ManagementquantQ2 2026$8.5M15.8KReduced
Two Sigma InvestmentsquantQ2 2026$303,914566New

No longer held by: Bridgewater Associates (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
11
$1.7M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-17
filed 2026-08-20
Kelley Shannon TGeneral CounselSell664$514.97$342K
2026-07-20
Sibold William JohnPresident and CEOSell680$547.70$372K
2026-07-20
Sibold William JohnPresident and CEOSell545$544.71$297K
2026-07-20
Sibold William JohnPresident and CEOSell280$555.05$155K
2026-07-20
Sibold William JohnPresident and CEOSell275$545.71$150K
2026-07-20
Sibold William JohnPresident and CEOSell269$547.08$147K
2026-07-20
Sibold William JohnPresident and CEOSell153$550.01$84K
2026-07-20
Sibold William JohnPresident and CEOSell140$542.75$76K
2026-07-20
Sibold William JohnPresident and CEOSell110$543.79$60K
2026-07-20
Sibold William JohnPresident and CEOSell47$548.87$26K
2026-07-20
Sibold William JohnPresident and CEOSell1$550.72$551
2026-06-01
Soergel DavidChief Medical OfficerSell1.0K$495.74$517K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
2.0M
settled 2026-08-14
Change vs prior
+3.0%
vs previous settlement
Days to cover
6.05
at avg daily volume
Avg daily volume
335.0K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-142.0M+3.0%6.05
2026-07-312.0M-4.7%4.84
2026-07-152.1M-41.5%6.94
2026-06-303.5M-6.7%6.20
2026-06-153.8M-1.1%14.32
2026-05-293.8M-1.9%14.08
2026-05-153.9M+1.1%12.33
2026-04-303.9M-4.0%16.47

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$958.4M$180.1M$0$0$0
Gross profit
Operating income$-300.1M$-497.9M$-380.5M$-293.6M$-242.5M
Net income$-288.3M$-465.9M$-373.6M$-295.4M$-241.8M
Diluted EPS$-12.85$-21.90$-19.99$-17.23$-14.63

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$-189.6M$-455.6M$-324.2M$-224.9M$-183.9M
Capital expenditure$467,000$1.5M$1.5M$217,000$209,000
Free cash flow$-190.0M$-457.0M$-325.7M$-225.1M$-184.1M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$364.3M71.2%$-57.9M$-1.99
Q1 FY2026$311.3M126.8%$-94.4M$-3.25
Q4 FY2025$321.1M210.8%$-58.6M$-2.03
Q3 FY2025$287.3M362.0%$-114.2M$-4.01
Q2 FY2025$212.8M1353.8%$-42.3M$-1.50
Q1 FY2025$137.3M$-73.2M$-2.61
Q4 FY2024$103.3M$-59.4M$-1.34
Q3 FY2024$62.2M$-107.0M$-4.92

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorHealthcare
SIC industryPharmaceutical Preparations
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2010
SEC CIK1157601

Selected SEC filings

10-K2026-02-19
View on EDGAR →
10-Q2026-07-30
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
8-K2026-08-12
View on EDGAR →
8-K2026-07-30
View on EDGAR →
8-K2026-06-17
View on EDGAR →
8-K2026-05-06
View on EDGAR →

Largest pharmaceutical peers

All pharmaceutical stocksAll Healthcare companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.