Skip to content

Madrigal Pharmaceuticals, Inc. MDGL Business Segments — Research and Development External Expense

Discontinued — last reported Q4 '25

Similar metrics at other companies

Incyte logo
INCYReportable Segment — Research and development - external
$243.13M+25.7%
Globus Medical logo
GMEDReportable Segment — Other Research and Development Expense
$9.17M+20.2%
Amgen logo
AMGNReportable Segment — R&D
$1.72B+15.7%
Summit Therapeutics logo
SMMTReportable Segment — R&D
$90.2M+148%
Incyte logo
INCYReportable Segment — Other research and development
$12.6M-18.7%
Incyte logo
INCYReportable Segment — Research and development - internal
$260.18M+13.9%

Other financials

Income statement

See full
Revenue$311.3M+127%
Gross profit$43.5M
Operating income-$92.7M-16.9%
Net income-$94.4M-28.9%
EPS (diluted)-$3.25-24.5%

Balance sheet

See full
Cash & equivalents$232.2M+23.1%
Total debt$377.3M+187%
Total equity$543.5M-23.5%
Total assets$1.2B+23.1%

Cash flow

See full
Operating cash flow-$167.4M-88.4%
CapEx$3.8M
Free cash flow-$171.3M-92.7%

Valuation

See full
Market cap$11.66B+64.2%
Enterprise value$11.81B+67.5%
P/S10.3×-12.1×

Profitability

See full
Gross margin96.5%
Operating margin-27.7%-12.2pp
Net margin-27.3%-12.0pp
FCF margin-59.8%-29.6pp

Returns & leverage

See full
Return on equity-49.3%-0.8pp
Debt / equity0.7×+0.5×
Current ratio3.5×-2.4×

Where this comes from

Reported directly by Madrigal Pharmaceuticals, Inc. in its filing.

Tagged under the XBRL concept mdgl:ResearchAndDevelopmentExternalExpense.

The official record: Madrigal Pharmaceuticals, Inc.’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

Ask your AI about Madrigal Pharmaceuticals, Inc.'s business segments — research and development external expense.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI
Harbor at dusk
Claude

Questions, answered.

What is Madrigal Pharmaceuticals, Inc.'s business segments — research and development external expense?
Madrigal Pharmaceuticals, Inc. (MDGL) reported business segments — research and development external expense of $94.09M in Q4 2025.
How has Madrigal Pharmaceuticals, Inc.'s business segments — research and development external expense changed year-over-year?
Madrigal Pharmaceuticals, Inc.'s business segments — research and development external expense increased by 2165.7% year-over-year, from $4.15M to $94.09M.
What is the long-term trend for Madrigal Pharmaceuticals, Inc.'s business segments — research and development external expense?
Over 2 years (2023 to 2025), Madrigal Pharmaceuticals, Inc.'s business segments — research and development external expense has grown at a 20.9% compound annual growth rate (CAGR), from $215.53M to $315.24M.
What does business segments — research and development external expense mean?
The costs paid to outside partners for conducting clinical trials and research.
How do you interpret business segments — research and development external expense?
High spending indicates active clinical trial progression, which is necessary for future product approvals.
How does business segments — research and development external expense compare across companies?
Standard R&D reporting for companies outsourcing clinical development.