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Other financials

Income statement

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Revenue$364.3M+71.2%
Gross profit$43.5M
Operating income-$56.3M-19.3%
Net income-$57.9M-37.0%
EPS (diluted)-$1.99-4.7%

Balance sheet

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Cash & equivalents$292.9M+53.2%
Total debt$377.9M+179%
Total equity$523.7M-24.7%
Total assets$1.2B+22.6%

Cash flow

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Operating cash flow-$167.4M-88.4%
CapEx$4.3M
Free cash flow-$171.3M-92.7%

Valuation

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Market cap$11.88B+57.6%
Enterprise value$11.96B+59.9%
P/S9.3×-5.4×

Profitability

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Gross margin96.5%
Operating margin-25.1%-9.2pp
Net margin-25.3%-8.8pp
FCF margin-59.8%-29.6pp

Returns & leverage

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Return on equity-53.3%+47.0pp
Debt / equity0.7×+0.5×
Current ratio3.2×-1.9×

Where this comes from

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

Tagged under the XBRL concept us-gaap:RetainedEarningsAccumulatedDeficit.

The source filing: Madrigal Pharmaceuticals, Inc.’s 10-Q, filed July 30, 2026.

Filed
Jul 30, 2026, 9:06 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-050845
Line itemJune 30,2026December 31,2025
Stockholders’ equity:
Preferred stock, par value $0.0001 per share authorized: 5,000,000 shares at June 30, 2026 and December 31, 2025; 2,369,797 shares issued and outstanding at June 30, 2026 and December 31, 2025
Common stock, par value $0.0001 per share authorized: 200,000,000 shares at June 30, 2026 and December 31, 2025; 23,093,974 and 22,842,073 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively22
Additional paid-in-capital2,765,7102,692,280
Accumulated other comprehensive income808873
Accumulated deficit(2,242,796)(2,090,466)
Total stockholders’ equity523,724602,689
Total liabilities and stockholders’ equity$1,244,645$1,259,589

Item 1. Financial Statements (Unaudited):

FAQ

What is Madrigal Pharmaceuticals, Inc.'s retained earnings?
Madrigal Pharmaceuticals, Inc. (MDGL) reported retained earnings of -$2.24B in Q2 2026.
How has Madrigal Pharmaceuticals, Inc.'s retained earnings changed year-over-year?
Madrigal Pharmaceuticals, Inc.'s retained earnings decreased by 17.0% year-over-year, from -$1.92B to -$2.24B.
What is the long-term trend for Madrigal Pharmaceuticals, Inc.'s retained earnings?
Over 5 years (2020 to 2025), Madrigal Pharmaceuticals, Inc.'s retained earnings has grown at a 37.5% compound annual growth rate (CAGR), from -$425.46M to -$2.09B.
What does retained earnings mean?
Cumulative net income earned since inception minus all dividends paid — the total profits reinvested in the business over its lifetime.

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