Alnylam Pharmaceuticals, Inc. (ALNY)

Alnylam Pharmaceuticals, Inc. discovers, develops, manufactures, and commercializes therapeutics based on ribonucleic acid interference in the United States, Europe, and internationally. The company offers ONPATTRO for hereditary transthyretin-mediated (hATTR) amyloidosis; AMVUTTRA for ATTR and hATTR amyloidosis; Leqvio for hypercholesterolemia; Qfitlia for hemophilia A or B; GIVLAARI for acute hepatic porphyria; and OXLUMO for primary hyperoxaluria type 1. It also develops a range of products in Phase 3 trial, such as Nucresiran for ATTR amyloidosis; Zilebesiran for hypertension; Cemdisiran for myasthenia gravis, paroxysmal nocturnal hemoglobinuria, and geographic atrophy; and Elebsiran for hepatitis D virus infections. In addition, the company is developing various products in Phase 2 trial, including Rapirosiran for metabolic dysfunction-associated steatohepatitis; ALN-ANG3 for diabetic kidney disease; ALN-4324 for type 2 diabetes mellitus; Mivelsiran for cerebral amyloid angiopathy, as well as in Phase 1 trial for Alzheimer's disease; and ALN-6400 for bleeding disorders. Further, it develops a range of products in Phase 1 trial, such as ALN-2232 for obesity and weight management; ALN-PNP for non-alcoholic fatty liver disease; ALN-APOC3 for dyslipidemia; ALN-CIDEB for metabolic dysfunction-associated steatohepatitis; ALN-HTT02 for Huntington's disease; ALN-5288 for Alzheimer's disease; ALN-SOD for SOD1 amyotrophic lateral sclerosis; ALN-SNCA for Parkinson's disease; AG-236 for polycythemia vera; ALN-CFB for paroxysmal nocturnal hemoglobinuria; ALN-BCAT for hepatocellular carcinoma; and ALN-4285, ALN-4915, and ALN-F1202 for healthy volunteers. The company has collaborations with Regeneron Pharmaceuticals, Inc.; Roche Holding AG; Sanofi S.A.; Novartis AG; PeptiDream, Inc; Dicerna Pharmaceuticals, Inc.; and Ionis Pharmaceuticals, Inc. Alnylam Pharmaceuticals, Inc. was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Ticker
ALNY
Exchange
Nasdaq
Sector
Healthcare
Industry
Biotechnology
Market cap
$20.88B
52-week range
$154.30 - $479.79

Valuation

Share price
$155.94 (close of Nov 6, 2026)
P/E (TTM)
7.87x
Price to book
5.79x
Price to free cash flow
25.89x
Enterprise value
$20.38B
Book value per share
$26.92

Price performance

PeriodChange
1 day-0.46%
5 days-5.49%
1 month-30.37%
3 months-27.85%
6 months-48.53%
Year to date-60.78%
1 year-64.60%
3 years-6.71%
5 years-16.72%
10 years+362.04%
All time+2,127.71%

Short interest

As of
Oct 15, 2026
Short % of float
6.54%
Shares short
6.57M
Days to cover
5.10
Change since prior report
-14.82%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
39.76%
Return on invested capital
23.80%
Return on assets
6.32%
Return on capital employed
14.33%
Gross margin
81.77%
Net margin
8.45%
EBITDA margin
15.00%
Revenue growth
65.19%

Cash flow and balance sheet

Free cash flow yield (TTM)
3.86%
Current ratio
2.48x
Net debt to EBITDA
-0.39x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$3.71B
Cost of revenue
$677.17M
Gross profit
$3.04B
EBITDA
$557.24M
Net income
$313.75M
Earnings per share
$2.39
Research and development
$1.32B
Interest expense
$252.63M
Shares outstanding
131.00M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$3.71B$3.04B$313.75M$2.39
2024-12-31$2.25B$1.94B-$278.16M-$2.18
2023-12-31$1.83B$1.56B-$440.24M-$3.52
2022-12-31$1.04B$897.24M-$1.13B-$9.30
2021-12-31$844.29M$729.28M-$852.82M-$7.20
2020-12-31$492.85M$418.67M-$858.28M-$7.46
2019-12-31$219.75M$194.69M-$886.12M-$8.11
2018-12-31$74.91M$73.11M-$761.50M-$7.57
2017-12-31$89.91M--$490.87M-$5.42
2016-12-31$47.16M--$410.11M-$4.79

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3181.77%8.45%39.76%23.80%
2024-12-3186.37%-12.37%--6.49%
2023-12-3185.33%-24.08%--26.01%
2022-12-3186.49%-109.04%--67.56%
2021-12-3186.38%-101.01%-144.99%-77.87%
2020-12-3184.95%-174.15%-84.46%-61.54%
2019-12-3188.60%-403.24%-61.59%-53.91%
2018-12-3197.59%-1,016.58%-58.49%-62.57%
2017-12-31--545.95%-27.79%-28.31%
2016-12-31--869.63%-44.57%-46.14%

Cash and debt by year

Period endCashDebt
2025-12-31$1.66B$1.01B
2024-12-31$966.43M$1.02B
2023-12-31$812.69M$1.02B
2022-12-31$866.39M$1.02B
2021-12-31$819.98M-
2020-12-31$496.58M-
2019-12-31$547.18M-
2018-12-31$420.15M-
2017-12-31$645.36M-
2016-12-31$193.62M-

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$465.38M$348.24M
2024-12-31-$42.59M$272.08M
2023-12-31$41.95M$221.68M
2022-12-31-$613.33M$230.65M
2021-12-31-$718.07M$165.72M
2020-12-31-$685.32M$139.87M
2019-12-31-$418.58M$174.84M
2018-12-31-$689.50M$157.75M
2017-12-31-$487.00M$92.82M
2016-12-31-$372.26M$75.53M

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-10-29Sep 2026$1.46
2026-07-30Jun 2026$1.44
2026-04-30Mar 2026$0.91
2026-02-12Dec 2025$0.81
2025-10-30Sep 2025$0.46
2025-07-31Jun 2025-$0.58
2025-05-01Mar 2025$1.00
2025-02-13Dec 2024-$0.68

Filings and sources

Company website
alnylam.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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