Madrigal Pharmaceuticals

MDGL

Biotechnology · Healthcare

Exchange

NASDAQ

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

Madrigal Pharmaceuticals is a biotech company that makes prescription medicines for serious liver diseases. Its main product is Rezdiffra (resmetirom), a pill approved by the FDA in 2024 to treat MASH — a condition where fat builds up in the liver and causes scarring. MASH affects millions of Americans, and Rezdiffra was the first drug ever approved specifically for this disease.

Madrigal makes money by selling Rezdiffra to patients through pharmacies and specialty distributors, with most revenue coming from the United States. The company is still in its early commercial stage, which explains why it is spending more than it earns right now — hence the negative operating margin. Its first-mover advantage in a large, underserved market gives it a head start, but the key risk is competition, as several other drugmakers are racing to bring their own MASH treatments to market, which could pressure Madrigal's pricing and market share over time.

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

+71.2% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-4.7% YoY

YoY Growth Rate

Earnings declining

Insider Activity

6.8%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$839M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

Madrigal Pharmaceuticals is growing revenue at 71% 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

Profit per sale

Gross Margin

89.0%

Premium pricing power — 89.0% gross margin

Profit after running costs

Operating Margin

-15.5%

Losing money on operations — -15.5%

Return on the money invested

ROCE

-37.3%

Weak — -37.3% return on capital

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

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Growth

Sales growth

Sales YoY

+149.0%

Fast-growing sales (+149.0% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-16.1%

Burning cash (-16.1%)

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

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Stability

What it owes vs what it owns

Debt / Equity

0.65

Moderate — manageable debt (0.65)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

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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