ALNY Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
Alnylam Pharmaceuticals, Inc. had $3.7B of revenue in fiscal 2025, up 65.2% on the year before. Over five years, revenue changed +49.8% a year on average.
Last close Β· Oct 23, 2026
$224.03
1.4%Hi! I read Alnylam Pharmaceuticals, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+65.2%
Yes. Sales grew 65.2% last year.
Does it make a profit?
8.4%
A little. It keeps 8.4% of every sale as profit.
Does profit turn into cash?
12.5%
Yes. 12.5% of sales ends up as free cash.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
How is the share priced?
96.2x
One share costs 96.2 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Alnylam Pharmaceuticals, Inc. had $3.7B of revenue in fiscal 2025, up 65.2% on the year before. Over five years, revenue changed +49.8% a year on average. Its operating margin was 13.5%, up 21.4Β pts: of every 100 in sales, about 14 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Alnylam Pharmaceuticals, Inc. made $314M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $465M in fiscal 2025, 12.5% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $44.0M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$44.0M
8 insiders
Of sales under plans
63%
$27.9M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 2, 2026 | Bryan SupranEVP, CLO and Secretary | Sold | 1,758 | $226.88 | $0.4M | Form 4 |
| Jun 1, 2026 | David E I PyottDirector | Sold plan | 3,830 | $299.18 | $1.1M | Form 4 |
| Apr 6, 2026 | Melissa McLaughlinChief Human Resources Officer | Sold plan | 2,286 | $330.42 | $0.8M | Form 4 |
| Apr 2, 2026 | Melissa McLaughlinChief Human Resources Officer | Sold plan | 1,624 | $319.59 | $0.5M | Form 4 |
| Mar 5, 2026 | Pushkal GargEVP Chief R&D | Sold plan | 2,404 | $323.96 | $0.8M | Form 4 |
| Mar 5, 2026 | Kevin Joseph FitzgeraldCSO & EVP, Head of Research | Sold plan | 658 | $323.98 | $0.2M | Form 4 |
| Mar 4, 2026 | Yvonne GreenstreetChief Executive Officer, Director | Sold | 2,933 | $323.08 | $0.9M | Form 4 |
| Mar 4, 2026 | Tolga TangulerEVP, Chief Commercial Officer | Sold | 2,309 | $323.08 | $0.7M | Form 4 |
| Mar 4, 2026 | Pushkal GargEVP Chief R&D | Sold plan | 2,309 | $323.08 | $0.7M | Form 4 |
| Mar 4, 2026 | Kevin Joseph FitzgeraldCSO & EVP, Head of Research | Sold plan | 633 | $323.08 | $0.2M | Form 4 |
| Mar 4, 2026 | Jeffrey V. PoultonEVP, Chief Financial Officer | Sold | 2,468 | $323.08 | $0.8M | Form 4 |
| Mar 3, 2026 | Kevin Joseph FitzgeraldCSO & EVP, Head of Research | Sold plan | 1,652 | $319.73 | $0.5M | Form 4 |
| Mar 3, 2026 | Pushkal GargEVP Chief R&D | Sold plan | 1,775 | $319.74 | $0.6M | Form 4 |
| Mar 2, 2026 | Yvonne GreenstreetChief Executive Officer, Director | Sold | 6,799 | $327.65 | $2.2M | Form 4 |
| Mar 2, 2026 | Kevin Joseph FitzgeraldCSO & EVP, Head of Research | Sold plan | 1,598 | $327.65 | $0.5M | Form 4 |
| Mar 2, 2026 | Tolga TangulerEVP, Chief Commercial Officer | Sold | 1,598 | $327.65 | $0.5M | Form 4 |
| Mar 2, 2026 | Jeffrey V. PoultonEVP, Chief Financial Officer | Sold | 2,206 | $327.65 | $0.7M | Form 4 |
| Mar 2, 2026 | Pushkal GargEVP Chief R&D | Sold plan | 1,717 | $327.66 | $0.6M | Form 4 |
| Feb 27, 2026 | Pushkal GargEVP Chief R&D | Sold plan | 4,627 | $331.34 | $1.5M | Form 4 |
| Feb 17, 2026 | Kevin Joseph FitzgeraldCSO & EVP, Head of Research | Sold plan | 2,041 | $331.96 | $0.7M | Form 4 |
| Feb 13, 2026 | Kevin Joseph FitzgeraldCSO & EVP, Head of Research | Sold plan | 1,959 | $310.08 | $0.6M | Form 4 |
| Feb 13, 2026 | Yvonne GreenstreetChief Executive Officer, Director | Sold | 6,958 | $310.08 | $2.2M | Form 4 |
| Feb 13, 2026 | Tolga TangulerEVP, Chief Commercial Officer | Sold | 1,959 | $310.08 | $0.6M | Form 4 |
| Feb 13, 2026 | Jeffrey V. PoultonEVP, Chief Financial Officer | Sold | 2,242 | $310.08 | $0.7M | Form 4 |
| Feb 13, 2026 | Pushkal GargEVP Chief R&D | Sold | 2,242 | $310.08 | $0.7M | Form 4 |
| Jan 13, 2026 | Kevin Joseph FitzgeraldCSO & EVP, Head of Research | Sold plan | 2,290 | $370.33 | $0.8M | Form 4 |
| Jan 12, 2026 | Pushkal GargEVP Chief R&D | Sold | 1,510 | $362.87 | $0.5M | Form 4 |
| Jan 12, 2026 | Tolga TangulerEVP, Chief Commercial Officer | Sold | 1,510 | $362.87 | $0.5M | Form 4 |
| Jan 12, 2026 | Jeffrey V. PoultonEVP, Chief Financial Officer | Sold | 2,780 | $362.87 | $1.0M | Form 4 |
| Jan 12, 2026 | Yvonne GreenstreetChief Executive Officer, Director | Sold | 9,577 | $362.86 | $3.5M | Form 4 |
| Jan 12, 2026 | Kevin Joseph FitzgeraldCSO & EVP, Head of Research | Sold plan | 1,510 | $362.87 | $0.5M | Form 4 |
| Nov 17, 2025 | Kevin Joseph FitzgeraldCSO & EVP, Head of Research | Sold plan | 12,128 | $452.18 | $5.5M | Form 4 |
| Nov 13, 2025 | Yvonne GreenstreetChief Executive Officer, Director | Sold plan | 10,000 | $451.27 | $4.5M | Form 4 |
| Nov 12, 2025 | Yvonne GreenstreetChief Executive Officer, Director | Sold plan | 15,650 | $453.69 | $7.1M | Form 4 |
| Oct 3, 2025 | Pushkal GargEVP Chief R&D | Sold plan | 3,022 | $451.48 | $1.4M | Form 4 |
| Oct 2, 2025 | Pushkal GargEVP Chief R&D | Sold plan | 2,937 | $452.05 | $1.3M | Form 4 |
| Oct 2, 2025 | Tolga TangulerEVP, Chief Commercial Officer | Sold | 1,405 | $452.05 | $0.6M | Form 4 |
| Oct 2, 2025 | Kevin Joseph FitzgeraldCSO & EVP, Head of Research | Sold | 2,441 | $452.05 | $1.1M | Form 4 |
| Oct 2, 2025 | Yvonne GreenstreetChief Executive Officer, Director | Sold | 8,924 | $452.05 | $4.0M | Form 4 |
| Oct 2, 2025 | Jeffrey V. PoultonEVP, Chief Financial Officer | Sold | 3,821 | $452.05 | $1.7M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Alnylam Pharmaceuticals, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $2.4B | $2.2B | $2.4B | $2.7B | $2.9B |
| Debt incl. finance leases | $676M | β | β | β | β |
| Debt / equity | 1.1x | β | β | β | β |
| Interest coverage | β5.0x | β5.0x | β2.3x | β1.2x | 2.0x |
| Current ratio | 4.0x | 3.5x | 3.1x | 2.8x | 2.8x |
| Quick ratio | 3.9x | 3.3x | 3.0x | 2.7x | 2.7x |
| Total assets | $3.6B | $3.5B | $3.8B | $4.2B | $5.0B |
| Total liabilities | $3.1B | $3.7B | $4.1B | $4.2B | $4.2B |
| Shareholders' equity | $588M | β$158M | β$221M | $67.1M | $789M |
| Net debt (β = net cash) | β$1.7B | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Alnylam Pharmaceuticals, Inc. passes 5 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 4 / 7 | 2 / 8 | 3 / 8 | 3 / 8 | 4 / 9 | 3 / 8 | 4 / 8 | 4 / 8 | 5 / 8 |
| Accruals ratio | β8.1% | β6.6% | β11.1% | β30.6% | β8.4% | β6.0% | β16.4% | β14.8% | β6.7% | β4.6% |
| Altman Z'' | β0.91 | 8.26 | β0.09 | β2.40 | β1.67 | β2.17 | β4.01 | β3.07 | β2.60 | β0.11 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $47.2M | $89.9M | $74.9M | $220M | $493M | $844M | $1.0B | $1.8B | $2.2B | $3.7B |
| Gross profit | β | $89.9M | $73.1M | $195M | $419M | $729M | $897M | $1.6B | $1.9B | $3.0B |
| Research and development | $382M | $391M | $505M | $655M | $655M | $792M | $883M | $1.0B | $1.1B | $1.3B |
| Operating income | β$425M | β$500M | β$815M | β$939M | β$828M | β$709M | β$785M | β$282M | β$177M | $502M |
| Interest expense | β | β | $0.0M | $0.0M | $84.5M | $143M | $156M | $121M | $142M | $253M |
| Pretax income | β$410M | β$491M | β$761M | β$885M | β$856M | β$852M | β$1.1B | β$434M | β$377M | $323M |
| Income tax | $0.0M | $0.0M | $0.8M | $0.9M | $2.7M | $0.7M | $4.2M | $6.7M | β$99.2M | $9.4M |
| Net income | β$410M | β$491M | β$761M | β$886M | β$858M | β$853M | β$1.1B | β$440M | β$278M | $314M |
| Diluted EPS | β$4.79 | β$5.42 | β$7.57 | β$8.11 | β$7.46 | β$7.20 | β$9.30 | β$3.52 | β$2.18 | $2.33 |
| Diluted shares | 0.09B | 0.09B | 0.10B | 0.11B | 0.11B | 0.12B | 0.12B | 0.12B | 0.13B | 0.13B |
| Cash flow | ||||||||||
| Cash from operations | β$308M | β$383M | β$563M | β$278M | β$615M | β$642M | β$541M | $104M | β$8.3M | $524M |
| Capital expenditure | $64.6M | $104M | $127M | $140M | $70.4M | $76.4M | $72.1M | $62.2M | $34.3M | $58.7M |
| Free cash flow | β$372M | β$487M | β$690M | β$419M | β$685M | β$718M | β$613M | $41.9M | β$42.6M | $465M |
| Depreciation and amortization | $15.1M | $13.4M | $15.2M | $17.2M | $34.8M | $47.6M | $44.5M | $54.1M | $56.7M | $55.7M |
| Stock-based compensation | $75.5M | $92.8M | $158M | $175M | $140M | $166M | $231M | $222M | $272M | $348M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $618M | $1.7B | $1.1B | $1.5B | $1.8B | $2.4B | $2.2B | $2.4B | $2.7B | $2.9B |
| Total debt | β | β | β | β | $191M | $676M | β | β | β | β |
| Current assets | $672M | $1.8B | $1.2B | $1.7B | $2.6B | $2.8B | $2.7B | $3.0B | $3.3B | $4.1B |
| Current liabilities | $132M | $144M | $179M | $353M | $585M | $696M | $768M | $968M | $1.2B | $1.5B |
| Inventory | β | β | $24.1M | $56.3M | $75.2M | $86.4M | $129M | $89.1M | $78.5M | $82.7M |
| Property and equipment, net | $115M | $182M | $321M | $425M | $465M | $502M | $523M | $526M | $503M | $513M |
| Total assets | $1.3B | $2.0B | $1.6B | $2.4B | $3.4B | $3.6B | $3.5B | $3.8B | $4.2B | $5.0B |
| Total liabilities | $343M | $228M | $273M | $956M | $2.4B | $3.1B | $3.7B | $4.1B | $4.2B | $4.2B |
| Preferred stock | β | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $920M | $1.8B | $1.3B | $1.4B | $1.0B | $588M | β$158M | β$221M | $67.1M | $789M |
| Margins | ||||||||||
| Gross margin | β | 100.0% | 97.6% | 88.6% | 84.9% | 86.4% | 86.5% | 85.3% | 86.4% | 81.8% |
| Operating margin | β900.3% | β556.2% | β1,087.6% | β427.5% | β168.1% | β83.9% | β75.7% | β15.4% | β7.9% | 13.5% |
| EBITDA margin | β868.2% | β541.3% | β1,067.2% | β419.7% | β161.0% | β78.3% | β71.4% | β12.5% | β5.3% | 15.0% |
| Net margin | β869.6% | β545.9% | β1,016.6% | β403.2% | β174.1% | β101.0% | β109.0% | β24.1% | β12.4% | 8.4% |
| FCF margin | β789.4% | β541.6% | β920.5% | β190.5% | β139.1% | β85.0% | β59.1% | 2.3% | β1.9% | 12.5% |
| Returns | ||||||||||
| Return on capital employed | β37.5% | β27.0% | β58.4% | β46.0% | β29.4% | β24.0% | β28.3% | β9.9% | β5.8% | 14.3% |
| Return on equity | β44.6% | β36.5% | β49.6% | β64.7% | β69.9% | β106.3% | β526.1% | β | β | 73.3% |
| Return on assets | β32.5% | β30.1% | β42.7% | β44.6% | β29.6% | β24.2% | β31.5% | β11.9% | β6.9% | 6.8% |
| Return on tangible equity | β44.6% | β27.8% | β58.5% | β61.6% | β84.5% | β145.0% | β | β | β414.6% | 39.8% |
| Growth | ||||||||||
| Revenue growth | β | 90.7% | β16.7% | 193.4% | 124.3% | 71.3% | 22.9% | 76.2% | 23.0% | 65.2% |
| FCF growth | β | β | β | β | β | β | β | β | β201.5% | β |
| Share count change | β | 5.8% | 11.1% | 8.6% | 5.2% | 3.0% | 2.7% | 2.6% | 2.2% | 5.5% |
| Financial health | ||||||||||
| Debt / equity | β | β | β | β | 0.2x | 1.1x | β | β | β | β |
| Interest coverage | β | β | β | β | β9.8x | β5.0x | β5.0x | β2.3x | β1.2x | 2.0x |
| Current ratio | 5.1x | 12.2x | 6.7x | 4.9x | 4.5x | 4.0x | 3.5x | 3.1x | 2.8x | 2.8x |
| Quick ratio | 5.1x | 12.2x | 6.6x | 4.7x | 4.3x | 3.9x | 3.3x | 3.0x | 2.7x | 2.7x |
| Capital allocation | ||||||||||
| Capex / revenue | 136.9% | 115.9% | 169.4% | 63.8% | 14.3% | 9.0% | 6.9% | 3.4% | 1.5% | 1.6% |
| Stock comp / revenue | 160.2% | 103.2% | 210.6% | 79.6% | 28.4% | 19.6% | 22.2% | 12.1% | 12.1% | 9.4% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 4.0 | 2.0 | 3.0 | 3.0 | 4.0 | 3.0 | 4.0 | 4.0 | 5.0 |
| Altman Z'' | β0.9 | 8.3 | β0.1 | β2.4 | β1.7 | β2.2 | β4.0 | β3.1 | β2.6 | β0.1 |
| Accruals ratio | β8.1% | β6.6% | β11.1% | β30.6% | β8.4% | β6.0% | β16.4% | β14.8% | β6.7% | β4.6% |
Source: SEC EDGAR XBRL filings (CIK 0001178670). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
