Company / R&D Expense
MADRIGAL PHARMACEUTICALS, INC. R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$388.5M
FY2025
5-year range
$205.2M / $388.5M
FY2021-FY2025
Trend
+64.1%
vs FY2024
Sector context
#44 of 210
Health Care
What the data says
MADRIGAL PHARMACEUTICALS, INC.'s r&d expense of $389M is higher than 79% of companies in the Health Care sector (FY2025). Improved from $272M to $389M over the past 2 years.
Based on SEC 10-K filings.
$389M in FY2025 with a 5-year CAGR of +16.0%. Top quartile in the Health Care sector.
Improved from $272M to $389M over the past 2 years.
Health Care sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +16.5%
- 5-Year CAGR
- +16.0%
- 10-Year CAGR
- -
Sector benchmark
Top 21% in Health CareTop 21% of 210This company $388.5M Sector average $644.1M
▼
-39.7% below sector average
Key checks
Key Insights
- 5-year CAGR of +16.0%, indicating consistent growth.
- In FY2025, r&d expense increased 64.1% year-over-year.
- Ranks #44 out of 210 companies in the Health Care sector.
- Lowest r&d expense in the period was in FY2016.
Company context
Key Data Points
- Altman Z-Score -0.47 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $388.5M | +64.1% |
| FY2024 | $236.7M | -13.1% |
| FY2023 | $272.4M | +11.0% |
| FY2022 | $245.4M | +19.6% |
| FY2021 | $205.2M | +11.0% |
| FY2020 | $184.8M | +155.5% |
| FY2019 | $72.3M | +184.9% |
| FY2018 | $25.4M | +4.1% |
| FY2017 | $24.4M | +53.1% |
| FY2016 | $15.9M | -76.6% |
As of FY2025 · SEC 10-K · Updated Mar 29, 2026