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Segments

By segment

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Reportable Segment$28.38M+43.3%

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:ShareBasedCompensation.

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 itemSix Months Ended June 30, 2026Six Months Ended June 30, 2025
Cash flows from operating activities:
Net loss$(152,330)$(115,519)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense69,38946,090
Depreciation and amortization expense767756
Inventory write-down11,051
Amortization of debt issuance costs and discount913807
Amortization of right-of-use assets1,053111

Item 1. Financial Statements (Unaudited):

FAQ

What is Madrigal Pharmaceuticals, Inc.'s stock-based comp?
Madrigal Pharmaceuticals, Inc. (MDGL) reported stock-based comp of $35.37M in Q2 2026.
How has Madrigal Pharmaceuticals, Inc.'s stock-based comp changed year-over-year?
Madrigal Pharmaceuticals, Inc.'s stock-based comp increased by 40.6% year-over-year, from $25.16M to $35.37M.
What is the long-term trend for Madrigal Pharmaceuticals, Inc.'s stock-based comp?
Over 4 years (2021 to 2025), Madrigal Pharmaceuticals, Inc.'s stock-based comp has grown at a 38.2% compound annual growth rate (CAGR), from $26.87M to $98.13M.
What does stock-based comp mean?
Total non-cash stock-based compensation expense for equity awards (RSUs, options, ESPP), added back to net income in cash flow reconciliation.

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