This page shows Alnylam Pharmaceuticals Inc (ALNY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Scale finally overtook the cost base, turning Alnylam’s high-margin revenue model into real cash earnings in FY2025.
From FY2023 to FY2025, gross margin eased from85.3% to81.8% , yet operating margin swung from-15.4% to13.5% . That combination points less to richer unit economics than to fixed-cost absorption: R&D and commercial spending still rose, but much more slowly than revenue, so additional sales finally dropped through to profit.
FY2025 profit was not just an accounting crossover: operating cash flow reached
After a period of negative equity, book equity recovered to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Alnylam Pharmaceuticals Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Alnylam Pharmaceuticals Inc has an operating margin of 13.5%, meaning the company retains $14 of operating profit per $100 of revenue. This results in a moderate score of 38/100, indicating healthy but not exceptional operating efficiency. This is up from -7.9% the prior year.
Alnylam Pharmaceuticals Inc's revenue surged 65.2% year-over-year to $3.7B, reflecting rapid business expansion. This strong growth earns a score of 93/100.
Alnylam Pharmaceuticals Inc has elevated debt relative to equity (D/E of 19.74), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 2/100, reflecting increased financial risk.
With a current ratio of 2.54, Alnylam Pharmaceuticals Inc holds $2.54 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 70/100.
Alnylam Pharmaceuticals Inc has a free cash flow margin of 12.5%, earning a moderate score of 53/100. The company generates positive cash flow after capital investments, but with room for improvement.
Alnylam Pharmaceuticals Inc's ROE of 134.1% shows moderate profitability relative to equity, earning a score of 41/100. This is up from -414.6% the prior year.
Alnylam Pharmaceuticals Inc scores 5.06, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($41.8B) relative to total liabilities ($4.6B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Alnylam Pharmaceuticals Inc passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Alnylam Pharmaceuticals Inc generates $1.67 in operating cash flow ($524.1M OCF vs $313.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Alnylam Pharmaceuticals Inc earns $2.0 in operating income for every $1 of interest expense ($501.6M vs $252.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Alnylam Pharmaceuticals Inc generated $3.7B in revenue in fiscal year 2025. This represents an increase of 65.2% from the prior year.
Alnylam Pharmaceuticals Inc's EBITDA was $557.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 563.5% from the prior year.
Alnylam Pharmaceuticals Inc reported $313.7M in net income in fiscal year 2025. This represents an increase of 212.8% from the prior year.
Alnylam Pharmaceuticals Inc earned $2.33 per diluted share (EPS) in fiscal year 2025. This represents an increase of 206.9% from the prior year.
Cash & Balance Sheet
Alnylam Pharmaceuticals Inc generated $465.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 1192.7% from the prior year.
Alnylam Pharmaceuticals Inc held $1.5B in cash against $0 in long-term debt as of fiscal year 2025.
Alnylam Pharmaceuticals Inc had 133M shares outstanding in fiscal year 2025. This represents an increase of 2.4% from the prior year.
Margins & Returns
Alnylam Pharmaceuticals Inc's gross margin was 81.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 4.6 percentage points from the prior year.
Alnylam Pharmaceuticals Inc's operating margin was 13.5% in fiscal year 2025, reflecting core business profitability. This is up 21.4 percentage points from the prior year.
Alnylam Pharmaceuticals Inc's net profit margin was 8.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 20.8 percentage points from the prior year.
Alnylam Pharmaceuticals Inc's ROE was 134.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 548.8 percentage points from the prior year.
Capital Allocation
Alnylam Pharmaceuticals Inc invested $1.3B in research and development in fiscal year 2025. This represents an increase of 17.2% from the prior year.
Alnylam Pharmaceuticals Inc invested $58.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 71.2% from the prior year.
ALNY Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B+6.4% | $1.1B-12.2% | $1.2B+61.4% | $773.7M+30.2% | $594.2M+0.2% | $593.2M+18.4% | $500.9M-24.1% | $659.8M |
| Cost of Revenue | $207.5M-22.5% | $267.7M+35.7% | $197.2M+38.9% | $142.0M+102.4% | $70.2M-31.6% | $102.6M+25.2% | $82.0M+21.9% | $67.3M |
| Gross Profit | $959.7M+15.7% | $829.3M-21.2% | $1.1B+66.5% | $631.7M+20.5% | $524.0M+6.8% | $490.5M+17.1% | $418.9M-29.3% | $592.6M |
| R&D Expenses | $364.9M-2.0% | $372.2M+3.7% | $358.8M+10.9% | $323.6M+22.1% | $265.1M-11.7% | $300.2M+10.8% | $270.9M-7.9% | $294.1M |
| SG&A Expenses | $322.6M-0.9% | $325.4M+1.0% | $322.1M-0.4% | $323.3M+34.7% | $239.9M-18.8% | $295.3M+33.6% | $221.0M-11.0% | $248.4M |
| Operating Income | $268.6M+103.9% | $131.7M-64.2% | $368.0M+2371.6% | -$16.2M-189.6% | $18.1M+117.2% | -$105.2M-36.7% | -$76.9M-258.2% | $48.6M |
| Interest Expense | $69.3M-36.8% | $109.7M+147.0% | $44.4M+10.3% | $40.2M-31.0% | $58.3M+49.6% | $39.0M+13.4% | $34.4M+3.4% | $33.3M |
| Income Tax | $15.7M+161.9% | -$25.3M-108.7% | -$12.1M-139.2% | $30.9M+94.7% | $15.9M+114.4% | -$110.2M-3890.7% | $2.9M-49.2% | $5.7M |
| Net Income | $206.0M+39.9% | $147.2M-41.4% | $251.1M+478.8% | -$66.3M-263.1% | -$18.3M+78.2% | -$83.8M+24.9% | -$111.6M-560.6% | -$16.9M |
| EPS (Diluted) | $1.51 | N/A | $1.84+460.8% | $-0.51-264.3% | $-0.14 | N/A | $-0.87-569.2% | $-0.13 |
ALNY Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.1B+3.3% | $5.0B+2.4% | $4.9B+6.3% | $4.6B+8.4% | $4.2B-0.6% | $4.2B+0.8% | $4.2B+4.9% | $4.0B |
| Current Assets | $4.2B+4.2% | $4.1B+2.5% | $4.0B+8.5% | $3.6B+11.5% | $3.3B-0.8% | $3.3B-1.8% | $3.4B+5.8% | $3.2B |
| Cash & Equivalents | $1.7B+3.2% | $1.7B+11.2% | $1.5B+33.8% | $1.1B+9.2% | $1.0B+5.5% | $966.4M-12.1% | $1.1B+13.6% | $968.5M |
| Inventory | $84.0M+1.6% | $82.7M+9.7% | $75.4M+5.2% | $71.7M+9.3% | $65.6M-16.5% | $78.5M+3.3% | $76.0M-9.5% | $84.0M |
| Accounts Receivable | $884.0M+13.7% | $777.6M-19.4% | $964.8M+70.1% | $567.1M+35.7% | $418.0M+3.1% | $405.3M+14.5% | $353.9M+14.3% | $309.5M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $4.1B-2.9% | $4.2B-9.5% | $4.6B+7.0% | $4.3B+5.3% | $4.1B-1.8% | $4.2B0.0% | $4.2B+4.0% | $4.0B |
| Current Liabilities | $1.3B-8.0% | $1.5B-5.7% | $1.6B+19.6% | $1.3B+20.9% | $1.1B-9.3% | $1.2B-2.8% | $1.2B+15.7% | $1.1B |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.1B+36.3% | $789.2M+237.4% | $233.9M-6.7% | $250.6M+117.1% | $115.4M+72.1% | $67.1M+107.4% | $32.4M+1154.9% | -$3.1M |
| Retained Earnings | -$6.5B+3.1% | -$6.7B+6.4% | -$7.2B+3.4% | -$7.4B-0.9% | -$7.3B-0.8% | -$7.3B-1.2% | -$7.2B-1.6% | -$7.1B |
ALNY Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $70.5M-56.9% | $163.6M-49.7% | $325.1M+108.8% | $155.7M+229.4% | -$120.3M-27.1% | -$94.7M-316.6% | $43.7M-64.8% | $124.2M |
| Capital Expenditures | $21.8M-6.3% | $23.3M+91.8% | $12.1M-15.0% | $14.3M+59.3% | $9.0M-1.4% | $9.1M+116.9% | $4.2M-47.7% | $8.0M |
| Free Cash Flow | $48.7M-65.3% | $140.3M-55.2% | $313.0M+121.3% | $141.4M+209.4% | -$129.3M-24.6% | -$103.8M-362.6% | $39.5M-66.0% | $116.1M |
| Investing Cash Flow | -$25.5M+31.3% | -$37.2M-107.4% | $501.1M+454.4% | -$141.4M-224.3% | $113.8M+315.0% | -$52.9M-74.9% | -$30.3M-189.1% | $33.9M |
| Financing Cash Flow | $15.7M-65.3% | $45.3M+110.1% | -$448.3M-966.2% | $51.8M+12.3% | $46.1M+48.7% | $31.0M-69.8% | $102.8M-21.9% | $131.5M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ALNY Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.2%+6.6pp | 75.6%-8.6pp | 84.2%+2.6pp | 81.6%-6.6pp | 88.2%+5.5pp | 82.7%-0.9pp | 83.6%-6.2pp | 89.8% |
| Operating Margin | 23.0%+11.0pp | 12.0%-17.4pp | 29.5%+31.5pp | -2.1%-5.1pp | 3.0%+20.8pp | -17.7%-2.4pp | -15.3%-22.7pp | 7.4% |
| Net Margin | 17.6%+4.2pp | 13.4%-6.7pp | 20.1%+28.7pp | -8.6%-5.5pp | -3.1%+11.0pp | -14.1%+8.2pp | -22.3%-19.7pp | -2.6% |
| Return on Equity | 19.2%+0.5pp | 18.6%-88.7pp | 107.3%+133.8pp | -26.5%-22.2pp | -4.3%+120.6pp | -124.9%+220.0pp | -344.8% | N/A |
| Return on Assets | 4.0%+1.1pp | 3.0%-2.2pp | 5.2%+6.6pp | -1.5%-1.0pp | -0.4%+1.6pp | -2.0%+0.7pp | -2.6%-2.2pp | -0.4% |
| Current Ratio | 3.13+0.4 | 2.76+0.2 | 2.54-0.3 | 2.80-0.2 | 3.04+0.3 | 2.78+0.0 | 2.75-0.3 | 3.01 |
| Debt-to-Equity | 3.77-1.5 | 5.29-14.4 | 19.74+2.5 | 17.22-18.3 | 35.50-26.7 | 62.20-66.8 | 128.97+1437.3 | -1308.35 |
| FCF Margin | 4.2%-8.6pp | 12.8%-12.3pp | 25.1%+6.8pp | 18.3%+40.0pp | -21.8%-4.3pp | -17.5%-25.4pp | 7.9%-9.7pp | 17.6% |
Similar Companies
Frequently Asked Questions
What is Alnylam Pharmaceuticals Inc's annual revenue?
Alnylam Pharmaceuticals Inc (ALNY) reported $3.7B in total revenue for fiscal year 2025. This represents a 65.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Alnylam Pharmaceuticals Inc's revenue growing?
Alnylam Pharmaceuticals Inc (ALNY) revenue grew by 65.2% year-over-year, from $2.2B to $3.7B in fiscal year 2025.
Is Alnylam Pharmaceuticals Inc profitable?
Yes, Alnylam Pharmaceuticals Inc (ALNY) reported a net income of $313.7M in fiscal year 2025, with a net profit margin of 8.5%.
What is Alnylam Pharmaceuticals Inc's EBITDA?
Alnylam Pharmaceuticals Inc (ALNY) had EBITDA of $557.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Alnylam Pharmaceuticals Inc's gross margin?
Alnylam Pharmaceuticals Inc (ALNY) had a gross margin of 81.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Alnylam Pharmaceuticals Inc's operating margin?
Alnylam Pharmaceuticals Inc (ALNY) had an operating margin of 13.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Alnylam Pharmaceuticals Inc's net profit margin?
Alnylam Pharmaceuticals Inc (ALNY) had a net profit margin of 8.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Alnylam Pharmaceuticals Inc's return on equity (ROE)?
Alnylam Pharmaceuticals Inc (ALNY) has a return on equity of 134.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Alnylam Pharmaceuticals Inc's free cash flow?
Alnylam Pharmaceuticals Inc (ALNY) generated $465.4M in free cash flow during fiscal year 2025. This represents a 1192.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Alnylam Pharmaceuticals Inc's operating cash flow?
Alnylam Pharmaceuticals Inc (ALNY) generated $524.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Alnylam Pharmaceuticals Inc's total assets?
Alnylam Pharmaceuticals Inc (ALNY) had $4.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Alnylam Pharmaceuticals Inc's capital expenditures?
Alnylam Pharmaceuticals Inc (ALNY) invested $58.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Alnylam Pharmaceuticals Inc spend on research and development?
Alnylam Pharmaceuticals Inc (ALNY) invested $1.3B in research and development during fiscal year 2025.
What is Alnylam Pharmaceuticals Inc's current ratio?
Alnylam Pharmaceuticals Inc (ALNY) had a current ratio of 2.54 as of fiscal year 2025, which is generally considered healthy.
What is Alnylam Pharmaceuticals Inc's debt-to-equity ratio?
Alnylam Pharmaceuticals Inc (ALNY) had a debt-to-equity ratio of 19.74 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Alnylam Pharmaceuticals Inc's return on assets (ROA)?
Alnylam Pharmaceuticals Inc (ALNY) had a return on assets of 6.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Alnylam Pharmaceuticals Inc's Altman Z-Score?
Alnylam Pharmaceuticals Inc (ALNY) has an Altman Z-Score of 5.06, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Alnylam Pharmaceuticals Inc's Piotroski F-Score?
Alnylam Pharmaceuticals Inc (ALNY) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Alnylam Pharmaceuticals Inc's earnings high quality?
Alnylam Pharmaceuticals Inc (ALNY) has an earnings quality ratio of 1.67x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Alnylam Pharmaceuticals Inc cover its interest payments?
Alnylam Pharmaceuticals Inc (ALNY) has an interest coverage ratio of 2.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Alnylam Pharmaceuticals Inc?
Alnylam Pharmaceuticals Inc (ALNY) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.