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Madrigal Pharmaceuticals, Inc. balance sheet

At the end of fiscal 2025, Madrigal Pharmaceuticals, Inc. had total assets of $1.26bn, total liabilities of $657m and shareholders' equity of $603m. It held $199m in cash against $486m of debt: net debt of $287m.

Balance sheet

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

Fiscal year2012Dec 20122017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash and equivalents8214957475436332100100199515
Receivables———————054134227
Inventory———————03475123
Total current assets1011924854402852723616371,0331,2461,387
Total assets1031924854422872733636411,0421,2601,434
Accounts payable62211212428444961
Total current liabilities23108254777116119169310454
Long-term debt—————049115118340341
Total debt40000070146144486469
Total liabilities28108254777165235288657807
Shareholders' equity75182477417240196197405754603627
Net debt (negative = net cash)−77−149−57−47−54−36−2624643287−46
Shares outstanding—14m15m15m16m17m18m20m22m23m—

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Madrigal Pharmaceuticals, Inc.'s SEC filings (10-K and 10-Q), retrieved November 3, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Madrigal Pharmaceuticals, Inc.