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Madrigal Pharmaceuticals (MDGL) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Madrigal Pharmaceuticals
NasdaqGS•Healthcare•Biotechnology
$531.52-2.88(-0.01%)Market closed
Market Cap
$15.49B
P/S
12.1x
P/B
29.6x

Madrigal Pharmaceuticals, Inc., a biopharmaceutical company, focuses on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH) in the United States. It offers Rezdiffra, a liver-directed thyroid hormone receptor beta agonist for treating MASH. The company was founded in 2016 and is headquartered in West Conshohocken, Pennsylvania.

C

How this company scores

AverageMetricSide Score: 50/100

Strongest: Growth (16/25); weakest: Profitability (9/25).

Profitability9/25
Growth16/25
Balance Sheet & Red Flags13/25
Cash & Earnings Quality12/25
Strengths
Growing revenueCash-backed earningsConsistent growthImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 12.1x5y range 12.1x – 409.6x
P/S 12.1x · near its 9-quarter median

Currently near its 9-quarter median.

P/B · 29.6x5y range 5.9x – 121.3x
P/B 29.6x · above its 17-quarter median

Currently above its 17-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 6 of the last 8 quarters — earnings are not translating to cash.

Price & Volume
Market Cap $15.49B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$1.28B
7Q
Q. Revenue
$364.25M
71%
TTM EBITDA
$-320.36M
2Q
TTM Op. Income
$-322.62M
2Q
Q. Op. Income
$-56.31M
19%
TTM Net Income
$-325.10M
2Q
Q. Net Income
$-57.94M
37%
EPS
$-1.99
5%
Shares Out.
$29.15M
7Q
$1.28B in TTM revenue grew 149.0% YoY, reaching $364.25M last quarter. TTM EBITDA of $-320.36M and TTM operating income of $-322.62M show growth is flowing through to the bottom line. However, net income is negative at $325.10M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
-15.4%
30%
Op. Margin
-15.5%
30%
Net Margin
-15.9%
20%
Op. margin of -15.5% is up 6.7% YoY — cost efficiency is improving. Net margin at -15.9% Over the past year, operating margin is up 30% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
12.1x
2Q
P/B Ratio
29.6x
4Q
P/S of 12.1x and P/B of 29.6x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$1.24B
23%
Cash
$292.73M
2Q
Long-Term Debt
$340.79M
7Q
Book Value
$523.72M
7Q
D/E Ratio
0.7
7Q
Debt/EBITDA
N/A
With $1.24B in assets and $340.79M in long-term debt, D/E is 0.7and book value is $523.72M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 7 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$23.33M
150%
TTM Free Cash Flow
$-206.28M
33%
FCF Margin
-16.1%
73%
FCF / Net Income
0.6
42%
TTM FCF of $-206.28M on $23.33M in operating cash flow. The FCF / Net Income ratio of 0.6x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is up 33% — an improving trend.

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Leverage Risk

Watch

Debt-to-equity has risen 282.6% recently — increasing financial risk even if the current ratio is manageable.

Cash Burn

Red Flag

The last 4 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Share Dilution

Red Flag

Shares outstanding increased 34.0% — significant dilution, likely from stock compensation or capital raises.