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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:WeightedAverageNumberOfDilutedSharesOutstanding.

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 itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Loss from operations(56,308)(47,202)(149,031)(126,513)
Interest income7,1048,22715,34717,597
Interest expense(7,940)(3,264)(15,759)(6,561)
Other expense, net(795)(42)(2,887)(42)
Net loss$(57,939)$(42,281)$(152,330)$(115,519)
Net loss per common, Series A preferred and Series B preferred share:
Basic and diluted net loss per common, Series A preferred, and Series B preferred share$(1.99)$(1.50)$(5.24)$(4.10)
Basic and diluted weighted average number of shares outstanding (Note 13)29,145,27128,232,60429,089,14828,159,333

Item 1. Financial Statements (Unaudited):

FAQ

What is Madrigal Pharmaceuticals, Inc.'s shares (diluted)?
Madrigal Pharmaceuticals, Inc. (MDGL) reported shares (diluted) of 29.1M in Q2 2026.
How has Madrigal Pharmaceuticals, Inc.'s shares (diluted) changed year-over-year?
Madrigal Pharmaceuticals, Inc.'s shares (diluted) increased by 31.2% year-over-year, from 22.2M to 29.1M.
What is the long-term trend for Madrigal Pharmaceuticals, Inc.'s shares (diluted)?
Over 4 years (2021 to 2025), Madrigal Pharmaceuticals, Inc.'s shares (diluted) has grown at a 7.8% compound annual growth rate (CAGR), from 66.1M to 89.2M.
What does shares (diluted) mean?
The weighted-average shares outstanding plus all potentially dilutive shares from stock options, RSUs, convertible securities, and warrants, using the treasury stock method.

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