MADRIGAL PHARMACEUTICALS, INC. — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that MADRIGAL PHARMACEUTICALS, INC. filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2024 | Dec 31, 2024 | $180.13M | Feb 26, 2025 |
| FY2023 | Dec 31, 2023 | $0 | Feb 28, 2024 |
| FY2023 | Sep 30, 2023 | $0 | Feb 28, 2024 |
| FY2023 | Jun 30, 2023 | $0 | Feb 28, 2024 |
| FY2023 | Mar 31, 2023 | $0 | Feb 28, 2024 |
| FY2023 | Dec 31, 2022 | $0 | Feb 28, 2024 |
| FY2023 | Sep 30, 2022 | $0 | Feb 28, 2024 |
| FY2023 | Jun 30, 2022 | $0 | Feb 28, 2024 |
| FY2023 | Mar 31, 2022 | $0 | Feb 28, 2024 |
| FY2023 | Dec 31, 2021 | $0 | Feb 28, 2024 |
Revenue
Revenue recognized from contracts with customers under ASC 606, excluding taxes collected on behalf of government authorities. This is the primary revenue concept for many companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $958.40M | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | $180.13M | Feb 19, 2026 |
| FY2025 | Dec 31, 2023 | $0 | Feb 19, 2026 |
| FY2024 | Dec 31, 2022 | $0 | Feb 26, 2025 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($288.28M) | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | ($465.89M) | Feb 19, 2026 |
| FY2023 | Dec 31, 2023 | ($112.19M) | Feb 28, 2024 |
| FY2023 | Sep 30, 2023 | ($98.74M) | Feb 28, 2024 |
| FY2023 | Jun 30, 2023 | ($85.80M) | Feb 28, 2024 |
| FY2023 | Mar 31, 2023 | ($76.90M) | Feb 28, 2024 |
| FY2023 | Dec 31, 2022 | ($85.91M) | Feb 28, 2024 |
| FY2023 | Sep 30, 2022 | ($81.20M) | Feb 28, 2024 |
| FY2023 | Jun 30, 2022 | ($70.73M) | Feb 28, 2024 |
| FY2023 | Mar 31, 2022 | ($57.52M) | Feb 28, 2024 |
Operating Income
Profit from core business operations before interest expense and income taxes (also known as EBIT). Excludes non-operating items, making it a cleaner measure of operational efficiency than net income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($300.10M) | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | ($497.88M) | Feb 19, 2026 |
| FY2023 | Dec 31, 2023 | ($117.18M) | Feb 28, 2024 |
| FY2023 | Sep 30, 2023 | ($98.53M) | Feb 28, 2024 |
| FY2023 | Jun 30, 2023 | ($86.45M) | Feb 28, 2024 |
| FY2023 | Mar 31, 2023 | ($78.34M) | Feb 28, 2024 |
| FY2023 | Dec 31, 2022 | ($85.30M) | Feb 28, 2024 |
| FY2023 | Sep 30, 2022 | ($80.41M) | Feb 28, 2024 |
| FY2023 | Jun 30, 2022 | ($70.27M) | Feb 28, 2024 |
| FY2023 | Mar 31, 2022 | ($57.59M) | Feb 28, 2024 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $813.83M | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | $435.06M | Feb 19, 2026 |
| FY2025 | Dec 31, 2023 | $108.15M | Feb 19, 2026 |
| FY2024 | Dec 31, 2022 | $48.13M | Feb 26, 2025 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($189.55M) | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | ($455.57M) | Feb 19, 2026 |
| FY2025 | Dec 31, 2023 | ($324.23M) | Feb 19, 2026 |
| FY2024 | Dec 31, 2022 | ($224.86M) | Feb 26, 2025 |
| FY2023 | Dec 31, 2021 | ($183.92M) | Feb 28, 2024 |
| FY2022 | Dec 31, 2020 | ($157.56M) | Mar 3, 2023 |
| FY2021 | Dec 31, 2019 | ($41.62M) | Feb 24, 2022 |
| FY2020 | Dec 31, 2018 | ($25.51M) | Feb 25, 2021 |
| FY2019 | Dec 31, 2017 | ($22.32M) | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | ($17.61M) | Feb 27, 2019 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $467.0K | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | $1.46M | Feb 19, 2026 |
| FY2025 | Dec 31, 2023 | $1.48M | Feb 19, 2026 |
| FY2024 | Dec 31, 2022 | $217.0K | Feb 26, 2025 |
| FY2023 | Dec 31, 2021 | $209.0K | Feb 28, 2024 |
| FY2022 | Dec 31, 2020 | $334.0K | Mar 3, 2023 |
| FY2021 | Dec 31, 2019 | $172.0K | Feb 24, 2022 |
| FY2020 | Dec 31, 2018 | $22.0K | Feb 25, 2021 |
| FY2019 | Dec 31, 2017 | $125.0K | Feb 26, 2020 |
| FY2018 | Dec 31, 2016 | $3.0K | Feb 27, 2019 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $1.26B | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | $1.04B | Feb 19, 2026 |
| FY2024 | Dec 31, 2023 | $640.55M | Feb 26, 2025 |
| FY2023 | Dec 31, 2022 | $362.57M | Feb 28, 2024 |
| FY2022 | Dec 31, 2021 | $273.33M | Mar 3, 2023 |
| FY2021 | Dec 31, 2020 | $287.00M | Feb 24, 2022 |
| FY2020 | Dec 31, 2019 | $442.06M | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | $485.43M | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | $192.31M | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | $41.21M | Mar 13, 2018 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $656.90M | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | $287.86M | Feb 19, 2026 |
| FY2024 | Dec 31, 2023 | $235.21M | Feb 26, 2025 |
| FY2023 | Dec 31, 2022 | $165.18M | Feb 28, 2024 |
| FY2022 | Dec 31, 2021 | $77.23M | Mar 3, 2023 |
| FY2021 | Dec 31, 2020 | $47.03M | Feb 24, 2022 |
| FY2020 | Dec 31, 2019 | $25.49M | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | $8.44M | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | $10.05M | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | $4.80M | Mar 13, 2018 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $602.69M | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | $754.38M | Feb 19, 2026 |
| FY2025 | Dec 31, 2023 | $405.33M | Feb 19, 2026 |
| FY2025 | Dec 31, 2022 | $197.39M | Feb 19, 2026 |
| FY2024 | Dec 31, 2021 | $196.11M | Feb 26, 2025 |
| FY2023 | Dec 31, 2020 | $239.97M | Feb 28, 2024 |
| FY2022 | Dec 31, 2019 | $416.57M | Mar 3, 2023 |
| FY2021 | Dec 31, 2018 | $476.98M | Feb 24, 2022 |
| FY2020 | Dec 31, 2017 | $182.26M | Feb 25, 2021 |
| FY2019 | Dec 31, 2016 | $36.41M | Feb 26, 2020 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($2.09B) | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | ($1.80B) | Feb 19, 2026 |
| FY2024 | Dec 31, 2023 | ($1.34B) | Feb 26, 2025 |
| FY2023 | Dec 31, 2022 | ($962.66M) | Feb 28, 2024 |
| FY2022 | Dec 31, 2021 | ($667.31M) | Mar 3, 2023 |
| FY2021 | Dec 31, 2020 | ($425.46M) | Feb 24, 2022 |
| FY2020 | Dec 31, 2019 | ($223.22M) | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | ($139.27M) | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | ($106.46M) | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | ($75.31M) | Mar 13, 2018 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $198.69M | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | $100.02M | Feb 19, 2026 |
| FY2024 | Dec 31, 2023 | $99.92M | Feb 26, 2025 |
| FY2023 | Dec 31, 2022 | $331.55M | Feb 28, 2024 |
| FY2022 | Dec 31, 2021 | $36.27M | Mar 3, 2023 |
| FY2021 | Dec 31, 2020 | $54.00M | Feb 24, 2022 |
| FY2020 | Dec 31, 2019 | $46.70M | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | $57.38M | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | $148.63M | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | $19.15M | Mar 13, 2018 |
Long-Term Debt
Debt obligations due more than one year from the balance sheet date — bonds, term loans, and notes payable. High long-term debt relative to equity can signal elevated financial leverage.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $339.88M | Feb 19, 2026 |
| FY2024 | Dec 31, 2024 | $117.57M | Feb 26, 2025 |
| FY2023 | Dec 31, 2023 | $115.48M | Feb 28, 2024 |
| FY2022 | Dec 31, 2022 | $69.68M | Mar 3, 2023 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (12) | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | (21) | Feb 19, 2026 |
| FY2023 | Dec 31, 2023 | (5) | Feb 28, 2024 |
| FY2023 | Sep 30, 2023 | (5) | Feb 28, 2024 |
| FY2023 | Jun 30, 2023 | (4) | Feb 28, 2024 |
| FY2023 | Mar 31, 2023 | (4) | Feb 28, 2024 |
| FY2023 | Dec 31, 2022 | (4) | Feb 28, 2024 |
| FY2023 | Sep 30, 2022 | (4) | Feb 28, 2024 |
| FY2023 | Jun 30, 2022 | (4) | Feb 28, 2024 |
| FY2023 | Mar 31, 2022 | (3) | Feb 28, 2024 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (12) | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | (21) | Feb 19, 2026 |
| FY2023 | Dec 31, 2023 | (5) | Feb 28, 2024 |
| FY2023 | Sep 30, 2023 | (5) | Feb 28, 2024 |
| FY2023 | Jun 30, 2023 | (4) | Feb 28, 2024 |
| FY2023 | Mar 31, 2023 | (4) | Feb 28, 2024 |
| FY2023 | Dec 31, 2022 | (4) | Feb 28, 2024 |
| FY2023 | Sep 30, 2022 | (4) | Feb 28, 2024 |
| FY2023 | Jun 30, 2022 | (4) | Feb 28, 2024 |
| FY2023 | Mar 31, 2022 | (3) | Feb 28, 2024 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 22.84M | Feb 19, 2026 |
| FY2025 | Dec 31, 2024 | 22.00M | Feb 19, 2026 |
| FY2024 | Dec 31, 2023 | 19.88M | Feb 26, 2025 |
| FY2023 | Dec 31, 2022 | 18.10M | Feb 28, 2024 |
| FY2022 | Dec 31, 2021 | 17.10M | Mar 3, 2023 |
| FY2021 | Dec 31, 2020 | 15.51M | Feb 24, 2022 |
| FY2020 | Dec 31, 2019 | 15.43M | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | 15.41M | Feb 26, 2020 |
| FY2018 | Dec 31, 2017 | 14.23M | Feb 27, 2019 |
| FY2017 | Dec 31, 2016 | 11.95M | Mar 13, 2018 |