MDGL vs. AXSM

Last updated Apr 1, 2026

Compare and contrast key facts about Madrigal Pharmaceuticals, Inc. (MDGL) and Axsome Therapeutics, Inc. (AXSM).

Performance

MDGL vs. AXSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madrigal Pharmaceuticals, Inc. (MDGL) and Axsome Therapeutics, Inc. (AXSM). The values are adjusted to include any dividend payments, if applicable.

MDGL vs. AXSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDGL Madrigal Pharmaceuticals, Inc.	-10.11%	88.72%	33.36%	-20.28%	242.52%	-23.77%	22.02%	-19.17%	22.80%	516.04%
AXSM Axsome Therapeutics, Inc.	-7.46%	115.86%	6.31%	3.19%	104.16%	-53.63%	-21.18%	3,565.25%	-49.64%	-17.04%

Fundamentals

Market Cap MDGL : $11.74B AXSM : $8.56B
EPS MDGL : -$12.88 AXSM : -$3.66
PS Ratio MDGL : 12.22 AXSM : 13.24
PB Ratio MDGL : 19.49 AXSM : 96.92
Total Revenue (TTM) MDGL : $958.40M AXSM : $638.50M
Gross Profit (TTM) MDGL : $902.26M AXSM : $591.02M
EBITDA (TTM) MDGL : -$300.10M AXSM : -$168.76M

Returns By Period

In the year-to-date period, MDGL achieves a -10.11% return, which is significantly lower than AXSM's -7.46% return. Over the past 10 years, MDGL has outperformed AXSM with an annualized return of 50.55%, while AXSM has yielded a comparatively lower 34.16% annualized return.

MDGL

• 1D: 3.59%
• 1M: 21.17%
• YTD: -10.11%
• 6M: 14.13%
• 1Y: 58.04%
• 3Y*: 29.28%
• 5Y*: 34.58%
• 10Y*: 50.55%

AXSM

• 1D: 5.31%
• 1M: 3.13%
• YTD: -7.46%
• 6M: 39.17%
• 1Y: 44.92%
• 3Y*: 39.94%
• 5Y*: 24.07%
• 10Y*: 34.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

MDGL vs. AXSM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MDGL

MDGL Risk / Return Rank: 78
MDGL Sharpe Ratio Rank: 81
MDGL Sortino Ratio Rank: 80
MDGL Omega Ratio Rank: 75
MDGL Calmar Ratio Rank: 78
MDGL Martin Ratio Rank: 75

AXSM

AXSM Risk / Return Rank: 77
AXSM Sharpe Ratio Rank: 77
AXSM Sortino Ratio Rank: 77
AXSM Omega Ratio Rank: 73
AXSM Calmar Ratio Rank: 81
AXSM Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MDGL vs. AXSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madrigal Pharmaceuticals, Inc. (MDGL) and Axsome Therapeutics, Inc. (AXSM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MDGL	AXSM	Difference
Sharpe ratio Return per unit of total volatility	1.28	1.11	+0.17
Sortino ratio Return per unit of downside risk	2.09	1.90	+0.19
Omega ratio Gain probability vs. loss probability	1.24	1.23	+0.01
Calmar ratio Return relative to maximum drawdown	2.03	2.30	-0.27
Martin ratio Return relative to average drawdown	4.45	5.19	-0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDGL vs. AXSM - Sharpe Ratio Comparison

The current MDGL Sharpe Ratio is 1.28, which is comparable to the AXSM Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of MDGL and AXSM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MDGL	AXSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	1.11	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.34	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.38	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.36	-0.33

Correlation

The correlation between MDGL and AXSM is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MDGL vs. AXSM - Dividend Comparison

Neither MDGL nor AXSM has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

MDGL vs. AXSM - Drawdown Comparison

The maximum MDGL drawdown since its inception was -98.40%, which is greater than AXSM's maximum drawdown of -86.65%. Use the drawdown chart below to compare losses from any high point for MDGL and AXSM.

Drawdown Indicators

	MDGL	AXSM	Difference
Max Drawdown Largest peak-to-trough decline	-98.40%	-86.65%	-11.75%
Max Drawdown (1Y) Largest decline over 1 year	-29.36%	-18.50%	-10.86%
Max Drawdown (5Y) Largest decline over 5 years	-61.41%	-72.91%	+11.50%
Max Drawdown (10Y) Largest decline over 10 years	-82.19%	-83.92%	+1.73%
Current Drawdown Current decline from peak	-13.16%	-10.62%	-2.54%
Average Drawdown Average peak-to-trough decline	-58.97%	-40.21%	-18.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.41%	8.21%	+5.20%

Volatility

MDGL vs. AXSM - Volatility Comparison

Madrigal Pharmaceuticals, Inc. (MDGL) has a higher volatility of 13.96% compared to Axsome Therapeutics, Inc. (AXSM) at 11.02%. This indicates that MDGL's price experiences larger fluctuations and is considered to be riskier than AXSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDGL	AXSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.96%	11.02%	+2.94%
Volatility (6M) Calculated over the trailing 6-month period	32.63%	30.60%	+2.03%
Volatility (1Y) Calculated over the trailing 1-year period	45.66%	40.86%	+4.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	133.38%	70.52%	+62.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	119.65%	90.95%	+28.70%

Financials

MDGL vs. AXSM - Profitability Comparison

The chart below illustrates the profitability comparison between Madrigal Pharmaceuticals, Inc. and Axsome Therapeutics, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MDGL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Madrigal Pharmaceuticals, Inc. reported a gross profit of 296.64M and revenue of 321.08M. Therefore, the gross margin over that period was 92.4%.

AXSM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Axsome Therapeutics, Inc. reported a gross profit of 183.67M and revenue of 196.00M. Therefore, the gross margin over that period was 93.7%.

MDGL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Madrigal Pharmaceuticals, Inc. reported an operating income of -59.61M and revenue of 321.08M, resulting in an operating margin of -18.6%.

AXSM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Axsome Therapeutics, Inc. reported an operating income of -26.96M and revenue of 196.00M, resulting in an operating margin of -13.8%.

MDGL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Madrigal Pharmaceuticals, Inc. reported a net income of -58.58M and revenue of 321.08M, resulting in a net margin of -18.2%.

AXSM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Axsome Therapeutics, Inc. reported a net income of -28.56M and revenue of 196.00M, resulting in a net margin of -14.6%.