Halozyme Therapeutics vs Madrigal Pharmaceuticals
Halozyme Therapeutics is the larger business, with $1.40bn of revenue in fiscal 2025 against $958m for Madrigal Pharmaceuticals (1.5 times as much). Madrigal Pharmaceuticals grew faster (432.1% against 37.6%). Halozyme Therapeutics kept more of each dollar of sales as profit: a net margin of 22.7% against -30.1%.
| Latest fiscal year | Halozyme TherapeuticsHALO, 2025 | Madrigal PharmaceuticalsMDGL, 2025 |
|---|---|---|
| Revenue | $1.40bn | $958m |
| Revenue growth | 37.6% | 432.1% |
| Net income | $317m | −$288m |
| Operating margin | — | -31.3% |
| Net margin | 22.7% | -30.1% |
| Return on equity | 153.6% | -42.5% |
| Free cash flow | $645m | −$190m |
| Cash | $134m | $199m |
| Total debt | $2.18bn | $486m |
| Debt to equity | — | 80.6% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $342m | — |
| Employees | 423 | 915 |
| Market value | $14.77bn | $9.38bn |
| Price vs our value range | Below our value range | — |
| Moat score | 71 (Strong) | — |
| Insider trades, 12 months | 0 buys, 105 sales | 0 buys, 202 sales |