Madrigal Pharmaceuticals, Inc.

Health Care
Biotechnology: Pharmaceutical Preparations
www.madrigalpharma.com

Moat Score
Safety Score

Market Cap $6.51B
PE -17
Debt $146.36M
Cash $188.65M
EV $6.46B
FCF -$396.41M

Earnings

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Sales & Net Margins

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Earnings	-$391.59M
EBIT	-$425.15M
ROE	-55%
ROA	-43%
FCF	-$396.41M
Equity	$710.64M
Growth Stability	1
PE	-16.62
PB	9.16
P/FCF	-16.41
P/S	20.5
Price/Cash	0.03
Debt/Equity	0.21
Debt/FCF	-0.37
Net Margins	-53%
Gross Margins	97%
Op. Margins	-134%
Sales Growth QoQ	33%
Sales CAGR	0%
Equity CAGR	20%
Earnings Growth YoY	-50%
Earnings Growth QoQ	23%

Sales CAGR 5Y	2%
Equity CAGR 5Y	23%
Earnings CAGR 3Y	23%
Sales CAGR 3Y	23%
Equity CAGR 3Y	249%
Market Cap	$6.51B
Revenue	$317.38M
Assets	$996.63M
Total Debt	$146.36M
Cash	$188.65M
Shares Outstanding	22.06M
EV	6.46B
Moat Score	1%
Safety Score	65%
Working Capital	820.74M
Current Ratio	5.91
Gross Profit	$306.64M
Shares Growth 3y	10%
Equity Growth QoQ	-6%
Equity Growth YoY	-16%

Assets & ROA

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Stockholders Equity & ROE

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Madrigal Pharmaceuticals Inc is a clinical-stage biopharmaceutical company. It focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and non-alcoholic steatohepatitis (NASH). The product portfolio of the company includes MGL-3196, an orally administered, small-molecule liver-directed B-selective THR agonist, which is used for the treatment of non-alcoholic steatohepatitis and familial hypercholesterolemia. Also, MGL-3196 reduces triglycerides in the plasma and liver by increasing fat metabolism and shows an anti-diabetic action.

SEC Filings

Direct access to Madrigal Pharmaceuticals, Inc. (MDGL) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Madrigal Pharmaceuticals, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Madrigal Pharmaceuticals, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Madrigal Pharmaceuticals, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Madrigal Pharmaceuticals, Inc..

Years

Calculation mode

= -$4B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$396M	-$396M	-$396M	-$396M	-$396M	-$396M	-$396M	-$396M	-$396M	-$396M	-$396M	-$4B
DCF		-$360M	-$328M	-$298M	-$271M	-$246M	-$224M	-$203M	-$185M	-$168M	-$153M	-$1.5B
Value	-$4B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-	-	-	-	-	-	-	-	-	-259%	-53%
ROA	-	-61%	-17%	-8%	-21%	-72%	-89%	-81%	-59%	-48%	-43%
ROE	-	-72%	-17%	-7%	-20%	-84%	-123%	-150%	-92%	-62%	-55%

Bad Net Margins (-53.36%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-	-	-	-	-	-0	-0.31	-0.45	-0.31	-0.37
Debt over Equity	-	-	-	-	-	-	0	0.35	0.36	0.19	0.21
Growth Stability	-	-	-	-	-	-	-	-	-	-	1

Good Debt/FCF ratio (-0.37)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.21)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-	-	-	-	-	-	-	-	-	2%
Earnings YoY growth	-	-62%	18%	5%	156%	141%	20%	22%	27%	25%	-
Equity YoY growth	-	-28%	401%	162%	-13%	-42%	-18%	1%	105%	86%	23%
FCF YoY growth	-	-75%	27%	14%	64%	278%	17%	22%	45%	40%	-