Insmed vs Madrigal Pharmaceuticals
Madrigal Pharmaceuticals is the larger business, with $958m of revenue in fiscal 2025 against $606m for Insmed (1.6 times as much). Madrigal Pharmaceuticals grew faster (432.1% against 66.7%). Madrigal Pharmaceuticals kept more of each dollar of sales as profit: a net margin of -30.1% against -210.5%. Insmed carries less debt relative to equity (74.0% against 80.6%).
| Latest fiscal year | InsmedINSM, 2025 | Madrigal PharmaceuticalsMDGL, 2025 |
|---|---|---|
| Revenue | $606m | $958m |
| Revenue growth | 66.7% | 432.1% |
| Net income | −$1.28bn | −$288m |
| Operating margin | -205.6% | -31.3% |
| Net margin | -210.5% | -30.1% |
| Return on equity | — | -42.5% |
| Free cash flow | −$968m | −$190m |
| Cash | $510m | $199m |
| Total debt | $547m | $486m |
| Debt to equity | 74.0% | 80.6% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 1,664 | 915 |
| Market value | $23.17bn | $9.38bn |
| Price vs our value range | — | — |
| Moat score | 24 (Weak) | — |
| Insider trades, 12 months | 0 buys, 169 sales | 0 buys, 202 sales |