Alnylam Pharmaceuticals (ALNY) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Alnylam Pharmaceuticals

NasdaqGS•Healthcare•Biotechnology

$224.03-3.25(-0.01%)Pre-market

Market Cap

$21.40B

P/E

7.9x

P/S

4.3x

P/B

5.9x

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.

How this company scores

ExcellentMetricSide Score: 90/100

Strongest: Profitability (25/25); weakest: Cash & Earnings Quality (21/25).

Profitability25/25

Growth23/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality21/25

Strengths

Growing revenueRising free cash flowStrong marginsHigh ROE

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 7.9x5y range 7.9x – 1350.2x

Currently below its 5-quarter median.

P/S · 4.3x5y range 4.3x – 37.9x

Currently below its 20-quarter median.

P/B · 5.9x5y range 5.9x – 1072.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $21.40B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $5.01B
Q. Revenue: $1.46B
TTM EBITDA: $977.59M
TTM Op. Income: $977.59M
Q. Op. Income: $345.80M
TTM Net Income: $2.72B
Q. Net Income: $2.17B
EPS: $16.19
Shares Out.: $133.83M

$5.01B in TTM revenue grew 56.2% YoY, reaching $1.46B last quarter. TTM EBITDA of $977.59M and TTM operating income of $977.59M show growth is flowing through to the bottom line. TTM net income of $2.72B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 75.2%
EBITDA Margin: 23.7%
Op. Margin: 23.7%
Net Margin: 148.6%

Op. margin of 23.7% is down 5.7% YoY — costs are rising relative to revenue. Net margin at 148.6% and gross margin of 75.2% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 20% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 7.9x
P/S Ratio: 4.3x
P/B Ratio: 5.9x

At 7.9x P/E, the stock trades below typical market levels. P/S of 4.3x and P/B of 5.9x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 5 quarters, P/E has fallen for 4 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $7.99B
Cash: $1.75B
Long-Term Debt: $651.09M
Book Value: $3.60B
D/E Ratio: 0.2
Debt/EBITDA: 1.9

With $7.99B in assets and $651.09M in long-term debt, D/E is 0.2and book value is $3.60B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 4 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $340.99M
TTM Free Cash Flow: $752.13M
FCF Margin: 15.0%
FCF / Net Income: 0.3

TTM FCF of $752.13M on $340.99M in operating cash flow. The FCF / Net Income ratio of 0.3x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is up 240% — a weakening trend.