Madrigal Pharmaceuticals, Inc. (MDGL) Key Metrics
MDGL valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $10.39B
- Enterprise value
- $11.36B
- P/E (TTM)
- —
- Forward P/E
- 78.1
- PEG ratio
- —
- Price / sales
- 8.1
- Price / book
- 22.6 10-yr median 7.2
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- −1.05
MDGL key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMDGL valuation Price multiples at each fiscal year-end price.
Price / sales−62.6%
13.6
2025 · hover or tap a bar for each year
20162025
Price / book+149.1%
21.7
2025 · hover or tap a bar for each year
20162025
Free cash flow yield+5.5 pts
−1.5%
2025 · hover or tap a bar for each year
20162025
MDGL returns How much profit the business earns on the capital it uses.
Return on equity+37.9 pts
−42.5%
2025 · hover or tap a bar for each year
20162025
Return on assets+30.3 pts
−25.0%
2025 · hover or tap a bar for each year
20162025
Free cash flow margin+233.9 pts
−19.8%
2025 · hover or tap a bar for each year
20162025
Asset turnover+289.0%
0.83
2025 · hover or tap a bar for each year
20162025
MDGL per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+404.5%
$42.72
2025 · hover or tap a bar for each year
20162025
Earnings per share
−$12.85
2025 · hover or tap a bar for each year
20162025
Free cash flow per share
−$8.47
2025 · hover or tap a bar for each year
20162025
Book value per share−24.2%
$26.86
2025 · hover or tap a bar for each year
20162025
Shares outstanding+5.5%
22.4M
2025 · hover or tap a bar for each year
20162025
MDGL financial health Debt, liquidity and how easily interest is covered.
Debt / equity+271.0%
0.59
2025 · hover or tap a bar for each year
20162025
Net debt+$177.5M
−$629.2M
2025 · hover or tap a bar for each year
20162025
Current ratio−34.2%
4.01
2025 · hover or tap a bar for each year
20162025
Interest coverage
-13.5
2025 · hover or tap a bar for each year
20162025
Debt / assets+145.2%
0.28
2025 · hover or tap a bar for each year
20162025
MDGL efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−19 days
36 days
2025 · hover or tap a bar for each year
20162025
Days of inventory−644 days
354 days
2025 · hover or tap a bar for each year
20162025
Days payables outstanding−1,797 days
301 days
2025 · hover or tap a bar for each year
20162025
Cash conversion cycle+1,135 days
89 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue−0.8 pts
0.0%
2025 · hover or tap a bar for each year
20162025
MDGL valuation history
Fiscal year-endToday10-year median
MDGL returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MDGL debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MDGL price vs earnings per share
Share price at year-endEPS (right axis)
MDGL key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $13.06B | $6.56B | $4.32B | $4.97B | $1.40B | $1.72B | $1.40B | $1.67B | $1.12B | $77.6M |
| Enterprise value | $12.44B | $5.76B | $3.81B | $4.67B | $1.13B | $1.43B | $964.3M | $1.18B | $932.4M | $37.1M |
| Price / sales | 13.6 | 36.4 | — | — | — | — | — | — | — | — |
| Price / book | 21.7 | 8.7 | 10.7 | 25.2 | 7.1 | 7.2 | 3.4 | 3.5 | 6.2 | 2.1 |
| EV / sales | 13.0 | 32.0 | — | — | — | — | — | — | — | — |
| Earnings yield | −2.2% | −7.1% | −8.6% | −5.9% | −17.2% | −11.5% | −5.2% | −2.0% | −2.8% | −34.0% |
| Free cash flow yield | −1.5% | −7.0% | −7.5% | −4.5% | −13.1% | −9.2% | −3.0% | −1.5% | −2.0% | −22.7% |
| Dividend yield | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | — | — | — | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% |
| Share price at fiscal year-end | $582.34 | $308.57 | $231.38 | $290.25 | $84.74 | $111.17 | $91.11 | $112.72 | $91.79 | $14.90 |
| Per share | ||||||||||
| Revenue per share | $42.72 | $8.47 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 | $0.00 |
| Earnings per share | −$12.85 | −$21.90 | −$19.99 | −$17.23 | −$14.58 | −$12.78 | −$4.73 | −$2.22 | −$2.54 | −$5.07 |
| Operating cash flow per share | −$8.45 | −$21.42 | −$17.35 | −$13.12 | −$11.12 | −$10.20 | −$2.70 | −$1.72 | −$1.82 | −$3.38 |
| Free cash flow per share | −$8.47 | −$21.48 | −$17.43 | −$13.13 | −$11.14 | −$10.22 | −$2.71 | −$1.73 | −$1.83 | −$3.38 |
| Cash per share | $43.84 | $43.54 | $33.93 | $20.94 | $16.35 | $18.40 | $28.52 | $32.69 | $15.64 | $7.78 |
| Book value per share | $26.86 | $35.46 | $21.69 | $11.52 | $11.86 | $15.54 | $27.06 | $32.24 | $14.88 | $7.00 |
| Tangible book value per share | $26.54 | $35.24 | $21.69 | $11.52 | $11.86 | $15.54 | $27.06 | $32.24 | $14.88 | $7.00 |
| Dividends per share | — | — | — | — | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.02 | $0.07 | $0.08 | $0.01 | $0.01 | $0.02 | $0.01 | $0.00 | $0.01 | $0.00 |
| Debt per share | $15.80 | $5.62 | $6.27 | $2.91 | $0.05 | $0.05 | $0.04 | — | $0.00 | $0.00 |
| Shares outstanding | 22.4M | 21.3M | 18.7M | 17.1M | 16.5M | 15.4M | 15.4M | 14.8M | 12.2M | 5.2M |
| Change in shares outstanding | +5.5% | +13.8% | +9.0% | +3.6% | +7.0% | +0.3% | +4.0% | +20.8% | +135.3% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −42.5% | −80.3% | −124.0% | −150.1% | −110.6% | −60.1% | −16.3% | −10.0% | −28.5% | −60.8% |
| Return on assets (ROA) | −25.0% | −55.4% | −74.5% | −92.9% | −86.0% | −54.2% | −15.7% | −9.7% | −26.7% | −48.2% |
| Return on tangible assets | −23.0% | −44.9% | −58.3% | −81.5% | −88.2% | −68.8% | −16.5% | −6.8% | −16.2% | −64.0% |
| Free cash flow margin | −19.8% | −253.7% | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $354.4M | $119.6M | $117.2M | $49.9M | $797,000 | $786,000 | $676,000 | — | $0 | $0 |
| Cash & short-term investments | $983.6M | $926.3M | $634.1M | $358.8M | $270.3M | $284.1M | $439.0M | $483.7M | $191.5M | $40.5M |
| Net debt | −$629.2M | −$806.7M | −$516.9M | −$308.9M | −$269.5M | −$283.4M | −$438.4M | −$483.7M | −$191.5M | −$40.5M |
| Debt / equity | 0.59 | 0.16 | 0.29 | 0.25 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 |
| Debt / assets | 0.28 | 0.11 | 0.18 | 0.14 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 |
| Current ratio | 4.01 | 6.10 | 5.38 | 3.12 | 3.54 | 6.13 | 17.52 | 57.46 | 19.10 | 8.58 |
| Quick ratio | 3.77 | 5.90 | 5.38 | 3.12 | 3.54 | 6.13 | 17.52 | 57.46 | 19.10 | 8.58 |
| Interest coverage | -13.5 | -33.9 | -29.9 | -74.1 | -232.9 | -47.7 | -8.6 | -5.3 | -57.5 | -21.7 |
| Working capital | $935.5M | $863.6M | $518.7M | $245.5M | $194.8M | $238.6M | $415.1M | $476.8M | $182.0M | $36.4M |
| Invested capital | −$26.5M | −$52.3M | −$111.6M | −$111.5M | −$73.4M | −$43.4M | −$21.8M | −$6.7M | −$9.3M | −$4.1M |
| Tangible asset value | $595.3M | $749.7M | $405.3M | $197.4M | $196.1M | $240.0M | $416.6M | $477.0M | $182.3M | $36.4M |
| Net current asset value | $588.9M | $745.1M | $402.1M | $196.2M | $194.5M | $238.1M | $414.7M | $476.8M | $182.0M | $36.4M |
| Graham net-net per share | $20.72 | $32.71 | $21.35 | $11.30 | $11.68 | $15.35 | $26.86 | $32.12 | $14.82 | $6.86 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share buybacks (net) | — | — | — | — | — | — | $0 | $0 | $0 | $0 |
| Capex / revenue | 0.0% | 0.8% | — | — | — | — | — | — | 35.7% | — |
| Capex / depreciation | 0.31 | 1.33 | 2.81 | 0.46 | 0.52 | 0.71 | 1.54 | 0.23 | 1.62 | 19.74 |
| Stock-based compensation / revenue | 10.2% | 44.3% | — | — | — | — | — | — | 929.7% | — |
| R&D / revenue | 40.5% | 131.4% | — | — | — | — | — | — | 6,968.6% | — |
| SG&A / revenue | 84.9% | 241.5% | — | — | — | — | — | — | 2,192.0% | — |
| Efficiency | ||||||||||
| Days sales outstanding | 35.9 | 54.5 | — | — | — | — | — | — | — | — |
| Days of inventory on hand | 354.0 | 997.5 | — | — | — | — | — | — | — | — |
| Days payables outstanding | 300.6 | 2,097.6 | 17,963.3 | 17,668.1 | 10,092.5 | 850.5 | 5,972.0 | 8,395.0 | 6,378.0 | 1,011,112.0 |
| Cash conversion cycle (days) | 89.3 | -1,045.6 | — | — | — | — | — | — | — | — |
| Receivables turnover | 10.18 | 6.69 | — | — | — | — | — | — | — | — |
| Payables turnover | 1.21 | 0.17 | 0.02 | 0.02 | 0.04 | 0.43 | 0.06 | 0.04 | 0.06 | 0.00 |
| Inventory turnover | 1.03 | 0.37 | — | — | — | — | — | — | — | — |
| Asset turnover | 0.83 | 0.21 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Average receivables | $94.1M | $26.9M | $0 | — | — | — | — | — | — | — |
| Average payables | $46.2M | $35.8M | $25.9M | $22.6M | $11.2M | $1.1M | $1.8M | $2.2M | $1.3M | $432,146 |
| Average inventory | $54.5M | $17.0M | $0 | — | — | — | — | — | $0 | −$3,666 |
| Intangibles / total assets | 0.6% | 0.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from MDGL's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MDGL valuation and financial ratios
Madrigal Pharmaceuticals earned a return on equity of −42.5% in fiscal 2025. It ended the year with $354.4 million of debt and $983.6 million in cash and short-term investments, a net cash position of $629.2 million. The share count rose 331.0% from 5.2M to 22.4M over 9 years.
See the MDGL income statement, the MDGL chart for price history, or the MDGL stock overview for the latest quote and news.
MDGL key metrics FAQ
What is Madrigal Pharmaceuticals's return on equity?
Madrigal Pharmaceuticals's return on equity (ROE) was −42.5% in fiscal 2025: net income of -$288.3 million on average shareholders' equity of $678.5 million.
How much debt does Madrigal Pharmaceuticals have?
Madrigal Pharmaceuticals had total debt of $354.4 million at the end of fiscal 2025, a debt-to-equity ratio of 0.59 and more cash than debt.
What is Madrigal Pharmaceuticals's free cash flow yield?
Madrigal Pharmaceuticals generated -$190.0 million of free cash flow in fiscal 2025, a free cash flow yield of −1.5% on its market value at year-end ($13.1 billion).
What is Madrigal Pharmaceuticals's current ratio?
Madrigal Pharmaceuticals's current ratio was 4.01 at the end of fiscal 2025: current assets were 4.01 times current liabilities.