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Madrigal Pharmaceuticals, Inc. (MDGL) stock

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NASDAQ: MDGL Nasdaq Biotechnology Next results ~November 3, 2026

B Fundamentals grade

Madrigal Pharmaceuticals, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$290

Valuation models combined (4)

Base case. Range ~$120–$410. Weighted average of 4 models (growth cash-flow model, forward price-to-earnings vs peers, forward price-to-sales vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Madrigal Pharmaceuticals, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 9 selling0 purchases and 202 sales by directors and officers, last 12 monthsInsider trades
  • Funds218 adding, 169 cuttingOf 71 active managers that changed their stake, 36 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Madrigal Pharmaceuticals files

Where Madrigal Pharmaceuticals stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.28bn, up 149.0% on a year earlier, slower than 256.8% a quarter earlier. That growth ranks 3 of 14 among the pharmaceutical preparations companies we cover. Free-cash-flow margin rose to -16.1% from -59.8% a year earlier. Operating margin widened to -25.1% from -60.1%. The diluted share count is up 14.8% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 7 financial-health checks. Our revenue-to-maturity cash-flow model value is $142 a share, against a share price of $464.

Source: 10-Q filed July 30, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Madrigal Pharmaceuticals, Inc.'s trailing-twelve-month revenue grew 92.8% year on year, with a free-cash-flow margin of -11.8%. Where it lags: change in growth rate of -56.2pp ranks 147 of 172 biotechnology companies we cover.

Current signal Revenue growth decelerating: TTM revenue growth slowed to 92.8% (-56.2pp vs the prior quarter), the 5th consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 92.8% over the last 12 months, against a median of 12.8% for biotechnology companies we cover.
  • Margins widening. Operating margin is up 30.8 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.2bn.

Things to watch

  • Growth slowing. The growth rate is 56.2 points lower than a quarter earlier.
  • Loss-making. Operating margin is -10.7%: costs exceed revenue.
  • Burning cash. Free cash flow was -11.8% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 14.8% in a year.
  • Insiders selling. 9 insiders sold $81M of stock over the past 365 days and none bought (81% under pre-set trading plans).
  • Heavily shorted. 11.2% of the shares available to trade are sold short (7.9 days of average volume to cover).

Latest results: FY2026 Q3

Filed November 3, 2026
Earnings per share
-$1.99 against an average estimate of -$2.23: beat by 10.8%
Revenue
$431m, up 50.1% on a year earlier
Next report
November 3, 2026; average EPS estimate -$1.09

Madrigal Pharmaceuticals' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.2%
  • 1 week-1.5%
  • 1 month-13.7%
  • This year-26.0%
  • 1 year+2.9%
  • 5 years+360.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.4B
Operating margin
-10.7%
Net margin
-10.9%
EPS (TTM, diluted)
$-5.30

Growth

Revenue growth
+92.8%
Change in growth rate
−56.2 pts

Cash

Free cash flow (TTM)
-$169M
FCF margin
-11.8%
Stock pay % of revenue
9.4%

Earnings

Last results
November 3, 2026
Next results (est.)
February 18, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Insider trade
  3. Insider trade
  4. Leadership
  5. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Madrigal Pharmaceuticals, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Madrigal Pharmaceuticals, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.96 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$410 ~$240–$540 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$120 ~$110–$230 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$290 ~$290–$1100 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$220 ~$180–$270 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$290 ~$120–$410 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Madrigal Pharmaceuticals, Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 201720182019202020212022202320242025Now
Share price$91.79$112.72$91.11$111.17$84.74$290.25$231.38$308.57$582.34$431.16
Market value$1.1bn$1.7bn$1.4bn$1.7bn$1.4bn$5.0bn$5.0bn$8.3bn$16.5bn$12.6bn
+ Net debt (− = net cash)−$149m−$57m−$47m−$54m−$36m−$262m$46m$43m$287m−$46m
Enterprise value$975m$1.6bn$1.4bn$1.7bn$1.4bn$4.7bn$5.0bn$8.3bn$16.8bn$12.6bn
Multiples
Price / sales ———————46.1x17.3x8.9x
Price / earnings ——————————
Price / free cash flow ——————————
EV / EBITDA ——————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, before the open. Analysts expect revenue of $405m and EPS of −$1.09 (range −$1.38 to −$0.56) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$6.49 +49% $1.5bn +59%
Next $9.63 +248% $2.1bn +39%

Next year's EPS estimate has moved −22.3% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.5% on 90 days ago. In the last 30 days, 0 analysts raised Madrigal Pharmaceuticals, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Madrigal Pharmaceuticals, Inc., last 90 days
−$10.00 −$5.00 $0.00 $5.00 $10.00 $15.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$6.52 Current fiscal year, 60 days ago: −$6.49 Current fiscal year, 30 days ago: −$6.49 Current fiscal year, 7 days ago: −$6.49 Current fiscal year, Now: −$6.49 −$6.49 Next fiscal year, 90 days ago: $12.38 Next fiscal year, 60 days ago: $9.63 Next fiscal year, 30 days ago: $9.63 Next fiscal year, 7 days ago: $9.63 Next fiscal year, Now: $9.63 $9.63

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$6.52$12.38
60 days ago −$6.49$9.63
30 days ago −$6.49$9.63
7 days ago −$6.49$9.63
Now −$6.49$9.63

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$2.23 −$1.99 +10.8%
Mar 2026 −$4.14 −$1.38 +66.7%
Dec 2025 −$0.88 −$2.57 −192.2%
Sept 2025 −$1.99 −$4.96 −148.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 30, 2026

No numeric guidance in Madrigal Pharmaceuticals, Inc.'s latest earnings release (filed July 30, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

19 analysts, Oct 2026
Buy1895%
Hold15%
Sell00%

Monthly trend

  1. Oct 202631519
  2. Sep 202631519
  3. Aug 202631317
  4. Jul 2026312217

Counts of recommendations published by analysts covering Madrigal Pharmaceuticals, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
11.2%
of tradable shares
Days to cover
7.9
at average volume
Short interest, 1 month
−3%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
5.8%
of shares
Employees
915
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +2.9%

$418.90 on October 31, 2025 to $431.16

ThenNowEffect
Revenue (last 12 months) $516m $1.3bn +149.0%
P/S multiple 20.2x 9.7x −52.0%
Share count 25m 29m −13.9%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MDGL−24%+243%−20%+33%+89%−26%
Industry peers (median)−36%−57%−17%−29%−5%−27%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MDGL42%50%25%58%58%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MDGL−47%−43%−61%−32%−25%−28%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 82% from June 6, 2018 to January 27, 2022. Getting back needed a 462% gain, reached on November 1, 2024, 1009 days after the low.

Price behaviour

52-week range
$412.35 – $602.83
From 52-week high
−28.5%
vs 50-day average
−13.2%
vs 200-day average
−13.7%
Volatility (1 year)
43%
Beta vs S&P 500
0.34

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 6 down
typical move ±14.3%
After a week
5 up, 6 down
typical move ±16.4%
After a month
6 up, 5 down
typical move ±16.6%
Results releasedNext dayS&P 500 next day5 days21 days
July 30, 2026 −14.5% +2.4% −6.7% −2.4%
May 6, 2026 +6.4% +1.1% +3.3% −3.1%
February 19, 2026 −11.5% +0.5% −9.3% −10.2%
November 4, 2025 +15.4% −0.8% +31.3% +42.2%
August 5, 2025 +8.3% +0.3% +15.0% +38.2%
May 1, 2025 −5.5% +2.2% −10.3% −18.3%
February 26, 2025 +8.5% −1.5% +12.2% +9.0%
January 13, 2025 −19.1% +0.3% −9.4% +0.4%
October 31, 2024 +48.0% −1.5% +64.3% +47.5%
August 7, 2024 −8.6% +1.6% −8.7% −8.5%
May 7, 2024 −11.7% +0.1% −10.4% +2.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Madrigal Pharmaceuticals, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Madrigal Pharmaceuticals, Inc.
$0 $500M $1B $1.5B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $0 Revenue (TTM), FY24 Q1: $0 Revenue (TTM), FY24 Q2: $14.6M Revenue (TTM), FY24 Q3: $76.8M Revenue (TTM), FY24 Q4: $180.1M Revenue (TTM), FY25 Q1: $317.4M Revenue (TTM), FY25 Q2: $515.5M Revenue (TTM), FY25 Q3: $740.6M Revenue (TTM), FY25 Q4: $958.4M Revenue (TTM), FY26 Q1: $1.1B Revenue (TTM), FY26 Q2: $1.3B Revenue (TTM), FY26 Q3: $1.4B $1.4B

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $0
FY24 Q1 $0
FY24 Q2 $14.6M
FY24 Q3 $76.8M
FY24 Q4 $180.1M
FY25 Q1 $317.4M
FY25 Q2 $515.5M
FY25 Q3 $740.6M
FY25 Q4 $958.4M
FY26 Q1 $1.1B
FY26 Q2 $1.3B
FY26 Q3 $1.4B
Revenue growth, TTM YoY Madrigal Pharmaceuticals, Inc.
0% 1000% 2000% 3000% 4000% FY25 Q2 FY25 Q3 FY25 Q4 FY26 Q1 FY26 Q2 FY26 Q3 Revenue growth, TTM YoY, FY25 Q2: 3422.0% Revenue growth, TTM YoY, FY25 Q3: 864.2% Revenue growth, TTM YoY, FY25 Q4: 432.1% Revenue growth, TTM YoY, FY26 Q1: 256.8% Revenue growth, TTM YoY, FY26 Q2: 149.0% Revenue growth, TTM YoY, FY26 Q3: 92.8% 92.8%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY25 Q2 3422.0%
FY25 Q3 864.2%
FY25 Q4 432.1%
FY26 Q1 256.8%
FY26 Q2 149.0%
FY26 Q3 92.8%
Operating margin (TTM) Madrigal Pharmaceuticals, Inc.
-4000% -3000% -2000% -1000% 0% FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q3 Operating margin (TTM), FY24 Q2: -3622.7% Operating margin (TTM), FY24 Q3: -713.5% Operating margin (TTM), FY24 Q4: -276.4% Operating margin (TTM), FY25 Q1: -134.0% Operating margin (TTM), FY25 Q2: -60.1% Operating margin (TTM), FY25 Q3: -41.5% Operating margin (TTM), FY25 Q4: -31.3% Operating margin (TTM), FY26 Q1: -27.7% Operating margin (TTM), FY26 Q2: -25.1% Operating margin (TTM), FY26 Q3: -10.7% -10.7%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 -3622.7%
FY24 Q3 -713.5%
FY24 Q4 -276.4%
FY25 Q1 -134.0%
FY25 Q2 -60.1%
FY25 Q3 -41.5%
FY25 Q4 -31.3%
FY26 Q1 -27.7%
FY26 Q2 -25.1%
FY26 Q3 -10.7%
FCF margin (TTM) Madrigal Pharmaceuticals, Inc.
-4000% -3000% -2000% -1000% 0% FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q3 FCF margin (TTM), FY24 Q2: -3079.8% FCF margin (TTM), FY24 Q3: -564.1% FCF margin (TTM), FY24 Q4: -253.7% FCF margin (TTM), FY25 Q1: -124.9% FCF margin (TTM), FY25 Q2: -59.8% FCF margin (TTM), FY25 Q3: -21.8% FCF margin (TTM), FY25 Q4: -19.8% FCF margin (TTM), FY26 Q1: -24.1% FCF margin (TTM), FY26 Q2: -16.1% FCF margin (TTM), FY26 Q3: -11.8% -11.8%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 -3079.8%
FY24 Q3 -564.1%
FY24 Q4 -253.7%
FY25 Q1 -124.9%
FY25 Q2 -59.8%
FY25 Q3 -21.8%
FY25 Q4 -19.8%
FY26 Q1 -24.1%
FY26 Q2 -16.1%
FY26 Q3 -11.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2012 Dec 2012 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 0 0 0 0 0 0 0 0 180 958 1,428
Gross profit — — — — — — 0 0 174 — —
EBITDA −60 −32 −41 −95 −206 −242 −293 −380 −497 −299 −151
Operating income −61 −32 −41 −95 −207 −242 −294 −380 −498 −300 −153
Net income −63 −31 −33 −84 −202 −242 −295 −374 −466 −288 −155
Diluted EPS −$5.30 −$2.54 −$2.22 −$5.45 −$13.09 −$14.63 −$17.23 −$17.33 −$17.31 −$10.15 −$5.30
Growth (year on year)
Revenue — −100.0% — — — — — — — +432.1% +92.8%
Margins
Gross margin — — — — — — — — 96.5% — —
EBITDA margin <−999% — — — — — — — −275.8% −31.2% −10.6%
Operating margin <−999% — — — — — — — −276.4% −31.3% −10.7%
Net margin <−999% — — — — — — — −258.6% −30.1% −10.9%
Free-cash-flow margin <−999% — — — — — — — −253.7% −19.8% −11.8%
Cash flow
Cash from operations −54 −22 −26 −42 −158 −184 −225 −324 −456 −190 −157
Capital spending 1 0 0 0 0 0 0 1 1 0 12
Free cash flow −55 −22 −26 −42 −158 −184 −225 −326 −457 −190 −169
Stock-based pay 3 3 13 23 21 27 32 50 80 98 134
Free cash flow after stock pay −58 −26 −39 −65 −179 −211 −257 −375 −537 −288 −303
Balance sheet
Cash 82 149 57 47 54 36 332 100 100 199 515
Total debt 4 0 0 0 0 0 70 146 144 486 469
Net debt (negative = net cash) −77 −149 −57 −47 −54 −36 −262 46 43 287 −46
Diluted shares 12m 12m 15m 15m 15m 17m 17m 22m 27m 28m 29m
Returned to shareholders
Buybacks 0 — — — — — — — — — —
Total returned 0 — — — — — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 7 checks passed · September 30, 2026
What it owns · $1.4bn
Short-term assets $1.4bnLonger-term assets $47m
What it owes, and who funded it · $1.4bn
Short-term liabilities $454mLonger-term liabilities $353mShareholders' equity $627m
  • Short-term assets cover short-term liabilities $1.4bn of assets due within a year against $454m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.4bn short-term assets against $353m of longer-dated liabilities.
  • More cash than debt $515m of cash against $341m of debt.
  • Debt below 40% of shareholders' equity Debt is 54% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 0% to 54% over five years.
  • A year's operating cash flow covers at least 20% of debt −$157m of operating cash flow against $341m of debt.
  • Operating profit covers interest at least five times over Operating income of −$153m against $32m of interest.

From Madrigal Pharmaceuticals, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

R&D spending
27.2%
of revenue
Sales & admin spending
74.5%
of revenue
Days sales outstanding
58 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated MDGL INSM LKFT HALO ALKS PTCT Median
Revenue, last 12 months $1.4bn $1.5bn $1.3bn $1.7bn $1.8bn $1.2bn $56m
Revenue growth, last 12 months 92.8% 240.0% 321.6% 41.2% 15.3% −35.1% 12.8%
Revenue growth, 3-year average — 75.6% — 29.1% 3.3% 13.1% 13.7%
Revenue growth, latest quarter 50.1% 268.4% — 47.7% 21.8% 69.6% 10.2%
Gross margin — 84.4% 97.3% 82.4% 82.9% 96.0% 82.8%
Operating margin −10.7% −37.1% 26.5% 35.9% 3.7% 12.8% −189.4%
Operating margin, 3-year average −255.2% −179.0% −39.1% 46.6% 16.0% 13.8% −363.5%
Net margin −10.9% −39.9% 28.9% 24.9% −0.0% −9.2% −169.8%
Cash from operations / revenue −11.0% −39.2% −23.1% 49.2% 13.9% 0.9% −168.0%
Free-cash-flow margin −11.8% −41.3% −24.4% 48.5% 13.0% 0.2% −162.4%
Free-cash-flow margin, 3-year average −199.3% −143.2% −127.4% 47.0% 22.1% 6.4% −310.0%
Stock pay / revenue 9.4% 11.0% 2.2% 3.8% 6.9% 7.7% 20.0%
Change in share count 14.8% 13.7% 0.0% −4.2% 2.1% 9.3% 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth 92.8% 12.8% 42 of 172
Change in growth rate Growth -56.2pp -0.1pp 147 of 172
Operating margin Profitability -10.7% -189.4% 47 of 175
Net margin Profitability -10.9% -157.3% 46 of 180
Free-cash-flow margin Cash generation -11.8% -145.4% 51 of 176
Stock pay as % of revenue Cash generation 9.4% 19.2% 59 of 179
Long-term debt as % of assets Balance sheet 23.8% 20.6% 46 of 78
Days sales outstanding Balance sheet 58 days 75 days 38 of 100

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$12.7B
Institutions reporting
412
Shares held vs prior quarter
▼ 0.3%
Positions opened / closed
74 / 40

Top buyers and sellers, Q2 2026: 218 institutions bought and 169 sold ; the biggest buyer was UBS Group AG (+284K shares) and the biggest seller Blackrock, Inc (−359K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Baker Bros. Advisors LP $1.2B 2.1M 9.0% ▲ 0.1%
RTW Investments, LP $1.1B 2.0M 8.4% 0.0%
Jupiter Topco LLC $1B 1.9M 8.2% —
Avoro Capital Advisors LLC $984M 1.8M 7.7% ▲ 0.8%
Paulson & Co. Inc. $720M 1.3M 5.7% ▼ 3.7%
Blackrock, Inc. $645M 1.2M 5.1% ▼ 23.0%
Vanguard Capital Management LLC $449M 836K 3.5% ▲ 1.0%
Wellington Management Group LLP $443M 826K 3.5% ▲ 18.8%
Vanguard Portfolio Management LLC $420M 782K 3.3% ▼ 7.1%
State Street Corp $283M 527K 2.2% ▼ 13.5%
Citadel Advisors LLC $272M 507K 2.1% ▲ 11.8%
UBS Group AG $216M 402K 1.7% ▲ 241.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Madrigal Pharmaceuticals, Inc.'s complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $81.5M 202 trades by 9 insiders · 81% under pre-set plans
Net ▼ $81.5M net selling
Insider Date Trade Shares Price Value
Sibold William John President and CEO September 11, 2026 Sell pre-set plan 106 $534.06 $56,610
Sibold William John President and CEO September 11, 2026 Sell pre-set plan 120 $546.38 $65,566
Sibold William John President and CEO September 11, 2026 Sell pre-set plan 761 $544.83 $414,616
Sibold William John President and CEO September 11, 2026 Sell pre-set plan 1,539 $544.02 $837,247
Sibold William John President and CEO September 11, 2026 Sell pre-set plan 1,202 $542.60 $652,205
Sibold William John President and CEO September 11, 2026 Sell pre-set plan 368 $541.64 $199,324
Sibold William John President and CEO September 11, 2026 Sell pre-set plan 687 $540.59 $371,385
Sibold William John President and CEO September 11, 2026 Sell pre-set plan 160 $537.62 $86,019
Sibold William John President and CEO September 11, 2026 Sell pre-set plan 218 $535.94 $116,835
Sibold William John President and CEO September 11, 2026 Sell pre-set plan 60 $533.09 $31,985
Sibold William John President and CEO September 9, 2026 Sell pre-set plan 362 $541.65 $196,077
Sibold William John President and CEO September 9, 2026 Sell pre-set plan 505 $540.19 $272,796

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Madrigal Pharmaceuticals, Inc. disclosed in the last 12 months; 1 earlier trade on record.

  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded April 10, 2023, filed May 19, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 18, 2027 estimated from the company's past filing pattern, not announced

  • November 3, 2026
  • July 30, 2026
  • May 6, 2026
  • February 19, 2026
  • November 4, 2025
  • August 5, 2025

Recent SEC filings

Data status

When each part of this page on Madrigal Pharmaceuticals, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Madrigal Pharmaceuticals, Inc. in brief

What does Madrigal Pharmaceuticals, Inc. do?
Madrigal Pharmaceuticals, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Madrigal Pharmaceuticals, Inc.'s stock ticker?
Madrigal Pharmaceuticals, Inc. trades under the ticker MDGL on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Madrigal Pharmaceuticals, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Madrigal Pharmaceuticals, Inc. reported revenue of $1.4B, 92.8% higher than a year earlier, according to its SEC filings.
What is Madrigal Pharmaceuticals, Inc.'s free cash flow?
Madrigal Pharmaceuticals, Inc.'s free-cash-flow margin is -11.8% of revenue over the trailing twelve months, ranking 51 of the 176 biotechnology companies we cover.
Who are Madrigal Pharmaceuticals, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Baker Bros. Advisors LP, RTW Investments, LP and Jupiter Topco LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Madrigal Pharmaceuticals, Inc.'s market cap?
On November 2, 2026, Madrigal Pharmaceuticals, Inc.'s market capitalisation was about $12.6B and net debt of -$45.7M. Market figures come from third-party market data and may be delayed.
How much debt does Madrigal Pharmaceuticals, Inc. have?
Madrigal Pharmaceuticals, Inc.'s debt-to-equity ratio is 54.4%, from its latest balance sheet (0.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Madrigal Pharmaceuticals, Inc.'s competitors?
In our Biotechnology peer group, the companies closest to Madrigal Pharmaceuticals, Inc. are Insmed Inc, Lakefront Biotherapeutics NV, Halozyme Therapeutics, Inc., Alkermes plc. and PTC Therapeutics, Inc. The side-by-side comparison below sets their revenue, margins and growth against Madrigal Pharmaceuticals, Inc.'s.
Are insiders buying or selling Madrigal Pharmaceuticals, Inc. stock?
Over the last 12 months, Madrigal Pharmaceuticals, Inc.'s directors and officers reported 0 open-market purchases and 202 sales on Form 4. The insider trading page charts every trade.
When is Madrigal Pharmaceuticals, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Madrigal Pharmaceuticals, Inc. announces its own schedule.