Madrigal Pharmaceuticals

MDGL

Biotechnology · Healthcare

Price

$553.48

+7.95 (+1.46%)

Market Cap

$12.76B

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+35.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 16.5M (2021) → 22.4M (2025)

Madrigal Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-ß agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis. The company also develops MGL-3745, a backup compound to resmetirom. It has research,

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+126.8% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+2.1% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$389M/ year

↑ Rising (+64% vs prior year)

40.5% of revenue

2.3x the sector average (18%)

Investing heavily in future products and technology

Insider Activity

5.9%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~4 months

$232M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Strong grower

Madrigal Pharmaceuticals is growing revenue at 127% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

91.4%

Premium pricing power — 91.4% gross margin

Operating Margin

-29.8%

Losing money on operations — -29.8%

ROCE

-10.5%

Weak — -10.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+256.8%

Fast-growing sales (256.8% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-24.1%

Burning cash (-24.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.63

Moderate — manageable debt (0.63)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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