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Alnylam Pharmaceuticals, Inc. (ALNY) stock

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NASDAQ: ALNY Nasdaq Biotechnology Next results ~February 11, 2027

Alnylam Pharmaceuticals, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: data-quality checks not passed.

Price vs value

Under review: data-quality checks not passed. We'll show the comparison once resolved.

Alnylam Pharmaceuticals, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 8 selling0 purchases and 279 sales by directors and officers, last 12 monthsInsider trades
  • Funds400 adding, 358 cuttingOf 87 active managers that changed their stake, 49 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Alnylam Pharmaceuticals files

Where Alnylam Pharmaceuticals stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.71bn, up 65.2% on a year earlier, faster than 53.2% a quarter earlier. Free-cash-flow margin rose to 12.5% from -1.9% a year earlier. Operating margin widened to 13.5% from -7.9%. The diluted share count is up 5.5% on a year earlier, which dilutes existing holders. It passes 2 of our 2 financial-health checks.

Our model value for Alnylam Pharmaceuticals is under review, so past values are not shown until it is resolved.

Source: 10-Q filed July 30, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 11, 2027 (estimated)

Alnylam Pharmaceuticals, Inc.'s trailing-twelve-month revenue grew 65.2% year on year, with a free-cash-flow margin of 12.5%.

Our discounted-cash-flow model values the business at ~$18 per share in the base case (~$17–$19 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 623% in the quarter to 2026-09-30, the 2nd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 65.2% over the last 12 months.
  • Growth speeding up. The growth rate is 12.0 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 21.4 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $1.8bn.

Things to watch

  • Share dilution. Diluted shares rose 5.5% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 54% and a beta of 0.5 against the S&P 500.
  • Insiders selling. 8 insiders sold $44M of stock over the past 365 days and none bought (63% under pre-set trading plans).
  • Gross margin slipping. Gross margin is down 4.6 points on a year ago.
  • Weak cash conversion. Free cash flow was 18% of net income over the last 12 months.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$16.26 against an average estimate of $2.25: beat by 623.0%
Revenue
$1.46bn, up 16.7% on a year earlier
Share reaction
-29.0% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
total TTR net product revenues (AMVUTTRA, ONPATTRO) $4,200m to $4,500m (FY 2026); total Rare net product revenues (GIVLAARI, OXLUMO) $500m to $600m (FY 2026)
Next report
October 29, 2026; average EPS estimate $2.44

Alnylam Pharmaceuticals' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.5%
  • 1 week-29.3%
  • 1 month-27.0%
  • This year-60.3%
  • 1 year-63.1%
  • 5 years-13.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.7B
Operating margin
13.5%
Net margin
8.4%
EPS (TTM, diluted)
$19.67

Growth

Revenue growth
+65.2%
Change in growth rate
+12.0 pts
Share count change
+5.5%

Cash

Free cash flow (TTM)
$465M
FCF margin
12.5%
Stock pay % of revenue
9.4%

Earnings

Last results
October 29, 2026
Next results (est.)
February 11, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Alnylam Pharmaceuticals, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Alnylam Pharmaceuticals, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.03 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$150 ~$140–$290 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Alnylam Pharmaceuticals, Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025
Share price$37.44$127.05$72.91$115.17$129.97$169.58$237.65$191.41$235.31$397.65
Market value$3.2bn$11.5bn$7.3bn$12.6bn$14.9bn$20.1bn$28.9bn$23.9bn$30.0bn$53.6bn
+ Net debt (− = net cash)−$44m−$615m−$390m−$547m−$305m−$144m$151m$208m$58m−$649m
Enterprise value$3.2bn$10.9bn$6.9bn$12.0bn$14.6bn$19.9bn$29.1bn$24.1bn$30.1bn$52.9bn
Multiples
Price / sales 68.0x128.0x97.9x57.3x30.3x23.8x27.9x13.1x13.4x14.4x
Price / earnings —————————170.7x
Price / free cash flow ———————n/m—115.1x
EV / EBITDA —————————94.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

33 /100

Weak moat

How hard Alnylam Pharmaceuticals's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 5 / 20

    Cash operating profit has been a median 5.0% of total assets over 7 years.

  • Pricing power 20 / 20

    Gross margin has been a median 86.4%, moving by 1.9 percentage points (standard deviation) across 7 years.

  • Durability 10 / 20

    Operating margin has been a median -79.8%; its worst year was -1087.6%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 2 of 10 years, at a median -82.7% of revenue.

  • Discipline 1 / 20

    The diluted share count rose 17.1% over five years; stock-based pay has been a median 20.9% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (38 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $8.64 +70% $5.5bn +47%
Next $12.06 +40% $6.7bn +23%

Next year's EPS estimate has moved −5.4% in 90 days, across 15 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −2.7% on 90 days ago. In the last 30 days, 0 analysts raised Alnylam Pharmaceuticals, Inc.'s forecast and 2 cut it.

Consensus EPS forecast Alnylam Pharmaceuticals, Inc., last 90 days
$8.00 $10.00 $12.00 $14.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $8.89 Current fiscal year, 60 days ago: $8.92 Current fiscal year, 30 days ago: $8.85 Current fiscal year, 7 days ago: $8.81 Current fiscal year, Now: $8.64 $8.64 Next fiscal year, 90 days ago: $12.76 Next fiscal year, 60 days ago: $12.59 Next fiscal year, 30 days ago: $12.47 Next fiscal year, 7 days ago: $12.37 Next fiscal year, Now: $12.06 $12.06

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $8.89$12.76
60 days ago $8.92$12.59
30 days ago $8.85$12.47
7 days ago $8.81$12.37
Now $8.64$12.06

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $2.25 $16.26 +623.0%
Jun 2026 $2.14 $1.84 −14.2%
Mar 2026 $1.47 $1.99 +35.3%
Dec 2025 $1.50 $1.25 −16.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 29, 2026
  • Total net product revenues FY 2026 $4,700m to $5,100m Maintained
    “Total net product revenues 1 $4,700 million - $5,100 million” source
  • Total TTR net product revenues (AMVUTTRA, ONPATTRO) · Total TTR (AMVUTTRA, ONPATTRO) FY 2026 $4,200m to $4,500m Maintained
    “Total TTR net product revenues (AMVUTTRA, ONPATTRO) 1 $4,200 million - $4,500 million” source
  • Total Rare net product revenues (GIVLAARI, OXLUMO) · Total Rare (GIVLAARI, OXLUMO) FY 2026 $500m to $600m Maintained
    “Total Rare net product revenues (GIVLAARI, OXLUMO) 1 $500 million - $600 million” source
  • Net product revenues growth vs. 2025 at currency exchange rates as of June 30, 2026 · Total net product revenues FY 2026 57% growth to 71% growth Maintained
    “Net product revenues growth vs. 2025 at currency exchange rates as of June 30, 2026 1 57% to 71%” source
  • Net product revenues growth vs. 2025 at constant exchange rates · Total net product revenues FY 2026 57% growth to 70% growth Non-GAAP Maintained
    “Net product revenues growth vs. 2025 at constant exchange rates 2 57% to 70%” source
  • Net revenues from collaborations and royalties FY 2026 $575m to $625m Maintained
    “Net revenues from collaborations and royalties $575 million - $625 million” source
Show 1 more item
  • Non-GAAP R&D and SG&A expenses FY 2026 $2,700m to $2,800m Non-GAAP Maintained
    “Non-GAAP R&D and SG&A expenses 3 $2,700 million - $2,800 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

30 analysts, Oct 2026
Buy2273%
Hold827%
Sell00%

Monthly trend

  1. Oct 2026616830
  2. Sep 2026616729
  3. Aug 2026716629
  4. Jul 2026814628

Counts of recommendations published by analysts covering Alnylam Pharmaceuticals, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.5%
of tradable shares
Days to cover
5.02
at average volume
Short interest, 1 month
−9%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.2%
of shares
Employees
2,500
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −65.4%

$456.04 on October 31, 2025 to $158.00

ThenNowEffect
Revenue (last 12 months) $2.5bn $3.7bn +50.9%
P/S multiple 24.0x 5.8x −75.7%
Share count 130m 137m −5.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −5.6%

$167.35 on November 3, 2023 to $158.00

ThenNowEffect
Revenue (last 12 months) $1.2bn $3.7bn +200.1%
P/S multiple 16.7x 5.8x −65.2%
Share count 124m 137m −9.7%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ALNY+31%+40%−20%+23%+69%−60%
Industry peers (median)−36%−57%−17%−29%−5%−26%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ALNY50%58%50%33%67%18%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ALNY−27%−31%−36%−28%−23%−63%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 71% from December 4, 2015 to November 3, 2016. Getting back needed a 247% gain, reached on September 20, 2017, 321 days after the low.

Price behaviour

52-week range
$158.00 – $473.29
From 52-week high
−66.6%
vs 50-day average
−32.7%
vs 200-day average
−44.5%
Volatility (1 year)
54%
Beta vs S&P 500
0.50

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±9.6%
After a week
4 up, 7 down
typical move ±9.1%
After a month
4 up, 7 down
typical move ±11.5%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 −29.0% −2.1% — —
July 30, 2026 −28.3% +2.4% −24.6% −17.3%
April 30, 2026 −1.7% +1.3% −1.8% −1.8%
February 12, 2026 −2.4% −1.5% +4.3% −1.0%
January 12, 2026 −7.1% 0.0% −10.7% −19.1%
October 30, 2025 −5.3% −0.8% −8.5% −5.6%
July 31, 2025 +18.2% −2.0% +28.0% +31.4%
January 13, 2025 +1.1% +0.3% +11.3% +11.8%
February 15, 2024 −10.4% +0.2% −4.0% −10.2%
January 8, 2024 +4.7% +1.3% −1.0% −11.0%
November 2, 2023 +6.6% +2.8% +4.8% +10.1%
August 3, 2023 −0.8% −0.7% −1.1% +7.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Alnylam Pharmaceuticals, Inc.
$0 $1B $2B $3B $4B FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 Revenue (TTM), FY23 Q1: $1.1B Revenue (TTM), FY23 Q2: $1.2B Revenue (TTM), FY23 Q3: $1.7B Revenue (TTM), FY23 Q4: $1.8B Revenue (TTM), FY24 Q1: $2B Revenue (TTM), FY24 Q2: $2.3B Revenue (TTM), FY24 Q3: $2.1B Revenue (TTM), FY24 Q4: $2.2B Revenue (TTM), FY25 Q1: $2.3B Revenue (TTM), FY25 Q2: $2.5B Revenue (TTM), FY25 Q3: $3.2B Revenue (TTM), FY25 Q4: $3.7B $3.7B

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue (TTM)
FY23 Q1 $1.1B
FY23 Q2 $1.2B
FY23 Q3 $1.7B
FY23 Q4 $1.8B
FY24 Q1 $2B
FY24 Q2 $2.3B
FY24 Q3 $2.1B
FY24 Q4 $2.2B
FY25 Q1 $2.3B
FY25 Q2 $2.5B
FY25 Q3 $3.2B
FY25 Q4 $3.7B
Revenue growth, TTM YoY Alnylam Pharmaceuticals, Inc.
0% 50% 100% FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 Revenue growth, TTM YoY, FY23 Q1: 29.9% Revenue growth, TTM YoY, FY23 Q2: 39.9% Revenue growth, TTM YoY, FY23 Q3: 79.4% Revenue growth, TTM YoY, FY23 Q4: 76.2% Revenue growth, TTM YoY, FY24 Q1: 75.2% Revenue growth, TTM YoY, FY24 Q2: 89.5% Revenue growth, TTM YoY, FY24 Q3: 21.5% Revenue growth, TTM YoY, FY24 Q4: 23.0% Revenue growth, TTM YoY, FY25 Q1: 17.2% Revenue growth, TTM YoY, FY25 Q2: 5.0% Revenue growth, TTM YoY, FY25 Q3: 53.2% Revenue growth, TTM YoY, FY25 Q4: 65.2% 65.2%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q1 29.9%
FY23 Q2 39.9%
FY23 Q3 79.4%
FY23 Q4 76.2%
FY24 Q1 75.2%
FY24 Q2 89.5%
FY24 Q3 21.5%
FY24 Q4 23.0%
FY25 Q1 17.2%
FY25 Q2 5.0%
FY25 Q3 53.2%
FY25 Q4 65.2%
Operating margin (TTM) Alnylam Pharmaceuticals, Inc.
-100% -50% 0% 50% FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 Operating margin (TTM), FY23 Q1: -68.9% Operating margin (TTM), FY23 Q2: -66.8% Operating margin (TTM), FY23 Q3: -20.6% Operating margin (TTM), FY23 Q4: -15.4% Operating margin (TTM), FY24 Q1: -8.8% Operating margin (TTM), FY24 Q2: 4.4% Operating margin (TTM), FY24 Q3: -9.0% Operating margin (TTM), FY24 Q4: -7.9% Operating margin (TTM), FY25 Q1: -4.9% Operating margin (TTM), FY25 Q2: -7.3% Operating margin (TTM), FY25 Q3: 8.2% Operating margin (TTM), FY25 Q4: 13.5% 13.5%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q1 -68.9%
FY23 Q2 -66.8%
FY23 Q3 -20.6%
FY23 Q4 -15.4%
FY24 Q1 -8.8%
FY24 Q2 4.4%
FY24 Q3 -9.0%
FY24 Q4 -7.9%
FY25 Q1 -4.9%
FY25 Q2 -7.3%
FY25 Q3 8.2%
FY25 Q4 13.5%
FCF margin (TTM) Alnylam Pharmaceuticals, Inc.
-60% -40% -20% 0% 20% FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 FCF margin (TTM), FY23 Q1: -52.9% FCF margin (TTM), FY23 Q2: -43.7% FCF margin (TTM), FY23 Q3: -3.9% FCF margin (TTM), FY23 Q4: 2.3% FCF margin (TTM), FY24 Q1: 6.4% FCF margin (TTM), FY24 Q2: 13.6% FCF margin (TTM), FY24 Q3: 0.8% FCF margin (TTM), FY24 Q4: -1.9% FCF margin (TTM), FY25 Q1: -3.2% FCF margin (TTM), FY25 Q2: -3.2% FCF margin (TTM), FY25 Q3: 5.2% FCF margin (TTM), FY25 Q4: 12.5% 12.5%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q1 -52.9%
FY23 Q2 -43.7%
FY23 Q3 -3.9%
FY23 Q4 2.3%
FY24 Q1 6.4%
FY24 Q2 13.6%
FY24 Q3 0.8%
FY24 Q4 -1.9%
FY25 Q1 -3.2%
FY25 Q2 -3.2%
FY25 Q3 5.2%
FY25 Q4 12.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Alnylam Pharmaceuticals took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $3.7B
  2. Cost of revenue $677M · 18.2%
  3. Gross profit $3B · 81.8%
  4. Research and development $1.3B · 35.5%
  5. Selling, general and admin $1.2B · 32.6%
  6. Operating income $502M · 13.5%
  7. Interest and other $178M · 4.8%
  8. Net income $314M · 8.4%

Shares of revenue. Source: Alnylam Pharmaceuticals's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2008 Dec 2008 2009 Dec 2009 2010 Dec 2010 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 96 101 100 47 90 75 220 493 844 1,037 1,828 2,248 3,714
Gross profit — — — — 90 73 195 419 729 897 1,560 1,942 3,037
EBITDA −22 −42 −39 −409 −487 −799 −922 −794 −661 −741 −228 −120 557
Operating income −28 −48 −44 −425 −500 −815 −939 −828 −709 −785 −282 −177 502
Net income −26 −48 −44 −410 −491 −761 −886 −858 −853 −1,131 −440 −278 314
Diluted EPS — −$0.57 −$0.52 −$4.79 −$5.42 −$7.57 −$8.11 −$7.46 −$7.20 −$9.30 −$3.52 −$2.18 $2.33
Growth (year on year)
Revenue — +4.5% −0.5% −52.9% +90.7% −16.7% +193.4% +124.3% +71.3% +22.9% +76.2% +23.0% +65.2%
Margins
Gross margin — — — — 100.0% 97.6% 88.6% 84.9% 86.4% 86.5% 85.3% 86.4% 81.8%
EBITDA margin −23.0% −41.9% −39.1% −868.2% −541.3% <−999% −419.7% −161.0% −78.3% −71.4% −12.5% −5.3% 15.0%
Operating margin −28.9% −47.9% −44.1% −900.3% −556.2% <−999% −427.5% −168.1% −83.9% −75.7% −15.4% −7.9% 13.5%
Net margin −27.3% −47.3% −43.5% −869.6% −545.9% <−999% −403.2% −174.1% −101.0% −109.0% −24.1% −12.4% 8.4%
Free-cash-flow margin 56.9% −76.7% −89.0% −789.4% −541.6% −920.5% −190.5% −139.1% −85.0% −59.1% 2.3% −1.9% 12.5%
Cash flow
Cash from operations 65 −72 −84 −308 −383 −563 −278 −615 −642 −541 104 −8 524
Capital spending 11 5 5 65 104 127 140 70 76 72 62 34 59
Free cash flow 55 −77 −89 −372 −487 −690 −419 −685 −718 −613 42 −43 465
Stock-based pay 18 20 19 76 93 158 175 140 166 231 222 272 348
Free cash flow after stock pay 37 −97 −108 −448 −580 −847 −593 −825 −884 −844 −180 −315 117
Balance sheet
Cash 192 137 75 194 645 420 547 497 820 866 813 966 1,657
Total debt 0 0 0 150 30 30 0 191 676 1,017 1,021 1,025 1,008
Net debt (negative = net cash) −192 −137 −75 −44 −615 −390 −547 −305 −144 151 208 58 −649
Diluted shares — — 84m 86m 91m 101m 109m 115m 118m 122m 125m 128m 135m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · September 30, 2026
What it owns · $8.0bn
Short-term assets $5.1bnLonger-term assets $2.9bn
What it owes, and who funded it · $8.0bn
Short-term liabilities $2.1bnLonger-term liabilities $2.3bnShareholders' equity $3.6bn
  • Short-term assets cover short-term liabilities $5.1bn of assets due within a year against $2.1bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $5.1bn short-term assets against $2.3bn of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Alnylam Pharmaceuticals, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+5.5%
year over year
R&D spending
35.5%
of revenue
Sales & admin spending
32.6%
of revenue
Days sales outstanding
76 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated ALNY NBIX BMRN ARGX BNTX UTHR Median
Revenue, last 12 months $3.7bn $3.7bn $3.4bn $4.2bn $3.2bn $3.2bn $58m
Revenue growth, last 12 months 65.2% 38.0% 11.2% 89.9% 9.0% 2.5% 12.7%
Revenue growth, 3-year average 53.0% 27.5% 15.1% — — 14.3% 14.3%
Revenue growth, latest quarter 16.7% 41.2% 19.9% — — −1.9% 10.2%
Gross margin 81.8% 98.2% 76.1% 89.1% 77.6% 86.1% 82.8%
Operating margin 13.5% 24.0% 4.4% 25.4% −49.0% 44.4% −187.2%
Operating margin, 3-year average −3.3% 23.4% 13.3% — −22.6% 46.6% −361.6%
Net margin 8.4% 19.0% 2.1% 31.1% −39.6% 41.6% −163.5%
Cash from operations / revenue 14.1% 28.8% 25.2% 16.5% 15.9% 53.4% −162.3%
Free-cash-flow margin 12.5% 28.1% 21.7% 16.4% 9.8% 34.6% −156.7%
Free-cash-flow margin, 3-year average 4.3% 23.3% 17.8% — −37.0% 34.3% −306.5%
Stock pay / revenue 9.4% 6.4% 6.3% 6.0% 3.7% 4.9% 19.2%
Change in share count 5.5% 1.9% 1.0% 1.3% 0.5% −3.1% 8.1%

Median of all 185 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $3B 80.4% ▲ 81.4%
TTR $2.5B 83.3% ▲ 103.3%
Rare $500M 16.7% ▲ 18.2%
Collaborations $553M 14.9% ▲ 8.5%
ONPATTRO $173M 4.7% ▼ 31.7%

From Alnylam Pharmaceuticals, Inc.'s 10-K filed February 12, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$40.2B
Institutions reporting
782
Shares held vs prior quarter
▲ 1.6%
Positions opened / closed
77 / 80

Top buyers and sellers, Q2 2026: 400 institutions bought and 358 sold ; the biggest buyer was Deep Track Capital, LP (+825K shares) and the biggest seller Jpmorgan Chase & Co (−3.6M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $4.5B 15.0M 11.3% ▲ 3.1%
Capital World Investors $3.4B 11.1M 8.4% ▲ 3.2%
Blackrock, Inc. $3.3B 10.9M 8.2% ▲ 4.4%
Capital Research Global Investors $2.9B 9.8M 7.3% ▲ 3.0%
Vanguard Portfolio Management LLC $2B 6.5M 4.9% ▲ 0.7%
Vanguard Capital Management LLC $1.8B 6.0M 4.5% ▲ 1.4%
T. Rowe Price Investment Management, Inc. $1.7B 5.6M 4.2% ▲ 8.6%
Invesco Ltd. $1.1B 3.8M 2.8% ▼ 7.9%
State Street Corp $1.1B 3.6M 2.7% ▲ 7.0%
Geode Capital Management, LLC $791M 2.6M 2.0% ▼ 0.9%
Jpmorgan Chase & Co $785M 2.7M 2.0% ▼ 57.7%
Baillie Gifford & Co $734M 2.4M 1.8% ▼ 2.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Alnylam Pharmaceuticals, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $44M 279 trades by 8 insiders · 63% under pre-set plans
Net ▼ $44M net selling
Insider Date Trade Shares Price Value
Supran Bryan EVP, CLO and Secretary October 2, 2026 Sell 1,758 $226.88 $398,855
Pyott David E I Director June 1, 2026 Sell pre-set plan 1,222 $299.87 $366,441
Pyott David E I Director June 1, 2026 Sell pre-set plan 495 $300.72 $148,856
Pyott David E I Director June 1, 2026 Sell pre-set plan 921 $297.71 $274,191
Pyott David E I Director June 1, 2026 Sell pre-set plan 17 $302.65 $5,145
Pyott David E I Director June 1, 2026 Sell pre-set plan 1,175 $298.91 $351,219
Mclaughlin Melissa Chief Human Resources Officer April 6, 2026 Sell pre-set plan 56 $320.14 $17,928
Mclaughlin Melissa Chief Human Resources Officer April 6, 2026 Sell pre-set plan 909 $329.76 $299,752
Mclaughlin Melissa Chief Human Resources Officer April 6, 2026 Sell pre-set plan 829 $330.46 $273,951
Mclaughlin Melissa Chief Human Resources Officer April 6, 2026 Sell pre-set plan 293 $331.89 $97,244
Mclaughlin Melissa Chief Human Resources Officer April 6, 2026 Sell pre-set plan 199 $333.94 $66,454
Mclaughlin Melissa Chief Human Resources Officer April 2, 2026 Sell pre-set plan 147 $320.62 $47,131

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 17 trades and filings

No trades in Alnylam Pharmaceuticals, Inc. disclosed in the last 12 months; 17 earlier trades on record.

  • Jefferson Shreve(R-IN 6):Sale (full), $15,001 - $50,000, traded May 12, 2025, filed June 22, 2025
  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded January 29, 2024, filed February 15, 2024
  • Josh Gottheimer(D-NJ 5):Purchase, $1,001 - $15,000, traded January 11, 2024, filed February 15, 2024

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 11, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 30, 2026
  • April 30, 2026
  • February 12, 2026
  • January 12, 2026
  • October 30, 2025

Recent SEC filings

Data status

When each part of this page on Alnylam Pharmaceuticals, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Alnylam Pharmaceuticals, Inc. in brief

What does Alnylam Pharmaceuticals, Inc. do?
Alnylam Pharmaceuticals, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Alnylam Pharmaceuticals, Inc.'s stock ticker?
Alnylam Pharmaceuticals, Inc. trades under the ticker ALNY on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Alnylam Pharmaceuticals, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Alnylam Pharmaceuticals, Inc. reported revenue of $3.7B, 65.2% higher than a year earlier, according to its SEC filings.
What is Alnylam Pharmaceuticals, Inc.'s free cash flow?
Alnylam Pharmaceuticals, Inc.'s free-cash-flow margin is 12.5% of revenue over the trailing twelve months.
Who are Alnylam Pharmaceuticals, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Capital World Investors and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Alnylam Pharmaceuticals, Inc.'s market cap?
On December 31, 2025, Alnylam Pharmaceuticals, Inc.'s market capitalisation was about $53.6B, with a price-to-earnings ratio of 170.7 and net debt of -$649M. Market figures come from third-party market data and may be delayed.
Who are Alnylam Pharmaceuticals, Inc.'s competitors?
In our Biotechnology peer group, the companies closest to Alnylam Pharmaceuticals, Inc. are Neurocrine Biosciences Inc, Biomarin Pharmaceutical Inc, Argenx SE, Biontech SE and United Therapeutics Corp. The side-by-side comparison below sets their revenue, margins and growth against Alnylam Pharmaceuticals, Inc.'s.
Are insiders buying or selling Alnylam Pharmaceuticals, Inc. stock?
Over the last 12 months, Alnylam Pharmaceuticals, Inc.'s directors and officers reported 0 open-market purchases and 279 sales on Form 4. The insider trading page charts every trade.
When is Alnylam Pharmaceuticals, Inc.'s next earnings date?
Around February 11, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Alnylam Pharmaceuticals, Inc. announces its own schedule.