Alnylam Pharmaceuticals (ALNY) Financials

$303.00 +1.89 (+0.63%)

Closing price 05/6/2026 04:00 PM Eastern

Extended Trading

$303.00 0.00 (0.00%)

As of 09:21 AM Eastern

Annual Income Statements for Alnylam Pharmaceuticals

This table shows Alnylam Pharmaceuticals' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-290	-410	-491	-761	-886	-858	-853	-1,131	-440	-278	314
Consolidated Net Income / (Loss)	-290	-410	-491	-761	-886	-858	-853	-1,131	-440	-278	314
Net Income / (Loss) Continuing Operations	-290	-410	-491	-761	-886	-858	-853	-1,131	-440	-278	314
Total Pre-Tax Income	-290	-410	-491	-761	-885	-856	-852	-1,127	-434	-377	323
Total Operating Income	-296	-425	-500	-815	-939	-828	-709	-785	-282	-177	502
Total Gross Profit	41	47	90	73	195	415	704	869	1,518	1,925	3,032
Total Revenue	41	47	90	75	220	493	844	1,037	1,828	2,248	3,714
Operating Revenue	41	47	90	75	220	493	844	1,037	1,828	2,248	3,714
Total Cost of Revenue	0.00	0.00	0.00	1.80	25	78	140	169	310	323	682
Operating Cost of Revenue	-	-	0.00	1.80	25	78	140	169	310	323	682
Total Operating Expenses	337	472	590	888	1,134	1,243	1,413	1,654	1,800	2,102	2,530
Selling, General & Admin Expense	61	89	199	382	479	588	621	771	796	976	1,211
Research & Development Expense	276	382	391	505	655	655	792	883	1,004	1,126	1,320
Total Other Income / (Expense), net	5.94	14	9.21	54	54	-27	-143	-342	-151	-200	-178
Interest Expense	-	-	-	0.00	0.00	84	143	233	121	142	295
Interest & Investment Income	5.86	8.31	12	29	33	-	1.58	25	96	122	111
Other Income / (Expense), net	0.08	6.17	-3.02	25	21	57	-2.05	-134	-126	-181	5.20
Income Tax Expense	-	0.00	0.00	0.82	0.86	2.68	0.68	4.16	6.73	-99	9.41
Basic Earnings per Share	($3.45)	($4.79)	($5.42)	($7.57)	($8.11)	($7.46)	($7.20)	($9.30)	($3.52)	($2.18)	$2.39
Weighted Average Basic Shares Outstanding	83.99M	85.60M	90.55M	100.59M	109.26M	114.99M	118.45M	121.69M	124.91M	127.65M	131.00M
Diluted Earnings per Share	($3.45)	($4.79)	($5.42)	($7.57)	($8.11)	($7.46)	($7.20)	($9.30)	($3.52)	($2.18)	$2.33
Weighted Average Diluted Shares Outstanding	83.99M	85.60M	90.55M	100.59M	109.26M	114.99M	118.45M	121.69M	124.91M	127.65M	134.68M
Weighted Average Basic & Diluted Shares Outstanding	83.99M	85.60M	90.55M	100.59M	109.26M	114.99M	120.21M	124.13M	125.95M	129.46M	132.62M

This table shows Alnylam Pharmaceuticals' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	148	-138	-66	-17	-112	-84	-18	-66	251	186	206
Consolidated Net Income / (Loss)	148	-138	-66	-17	-112	-84	-18	-66	251	186	206
Net Income / (Loss) Continuing Operations	148	-138	-66	-17	-112	-84	-18	-66	251	186	206
Total Pre-Tax Income	151	-138	-64	-11	-109	-194	-2.37	-35	239	161	222
Total Operating Income	214	-116	-43	49	-77	-105	18	-16	368	132	269
Total Gross Profit	666	354	428	591	415	490	523	631	1,049	829	956
Total Revenue	751	440	494	660	501	593	594	774	1,249	1,097	1,167
Operating Revenue	751	440	494	660	501	593	594	774	1,249	1,097	1,167
Total Cost of Revenue	84	86	66	69	86	103	71	143	200	268	211
Operating Cost of Revenue	84	86	66	69	86	103	71	143	200	268	211
Total Operating Expenses	452	470	472	543	492	596	505	647	681	698	687
Selling, General & Admin Expense	199	198	211	248	221	295	240	323	322	325	323
Research & Development Expense	253	272	261	294	271	300	265	324	359	372	365
Total Other Income / (Expense), net	-63	-21	-20	-60	-32	-89	-20	-19	-129	29	-47
Interest Expense	31	31	35	33	34	39	58	40	84	133	69
Interest & Investment Income	25	30	30	29	32	31	29	27	29	27	27
Other Income / (Expense), net	-58	-20	-15	-56	-30	-81	9.19	-6.40	-74	135	-4.30
Income Tax Expense	2.99	0.18	2.35	5.72	2.91	-110	16	31	-12	-25	16
Basic Earnings per Share	$1.18	($1.09)	($0.52)	($0.13)	($0.87)	($0.66)	($0.14)	($0.51)	$1.91	$1.43	$1.55
Weighted Average Basic Shares Outstanding	125.22M	124.91M	126.14M	126.73M	128.59M	127.65M	129.68M	130.63M	131.45M	131.00M	132.89M
Diluted Earnings per Share	$1.15	($1.06)	($0.52)	($0.13)	($0.87)	($0.66)	($0.14)	($0.51)	$1.84	$1.44	$1.51
Weighted Average Diluted Shares Outstanding	131.34M	124.91M	126.14M	126.73M	128.59M	127.65M	129.68M	130.63M	137.35M	134.68M	138.23M
Weighted Average Basic & Diluted Shares Outstanding	125.49M	125.95M	126.49M	128.38M	128.98M	129.46M	130.39M	131.08M	132.11M	132.62M	133.51M

This table details how cash moves in and out of Alnylam Pharmaceuticals' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	106	13	452	-224	127	-51	323	46	-54	154	690
Net Cash From Operating Activities	-189	-308	-383	-563	-278	-615	-642	-541	104	-8.31	524
Net Cash From Continuing Operating Activities	-189	-308	-383	-563	-278	-615	-642	-541	104	-8.31	524
Net Income / (Loss) Continuing Operations	-290	-410	-491	-761	-886	-858	-853	-1,131	-440	-278	314
Consolidated Net Income / (Loss)	-290	-410	-491	-761	-886	-858	-853	-1,131	-440	-278	314
Depreciation Expense	19	15	12	15	17	35	48	44	54	57	56
Non-Cash Adjustments To Reconcile Net Income	47	72	95	170	164	170	227	445	345	402	631
Changes in Operating Assets and Liabilities, net	35	15	1.48	14	390	-1.44	-105	101	145	-189	-477
Net Cash From Investing Activities	-321	143	-290	273	-418	-436	-273	169	-336	-117	436
Net Cash From Continuing Investing Activities	-321	143	-290	273	-418	-436	-273	169	-336	-117	436
Purchase of Property, Plant & Equipment	-13	-65	-104	-127	-140	-70	-76	-72	-62	-34	-59
Purchase of Investments	-1,035	-909	-903	-1,119	-2,076	-2,052	-1,698	-2,075	-1,882	-1,712	-1,365
Sale and/or Maturity of Investments	727	1,116	717	1,519	1,805	1,692	1,506	2,322	1,612	1,630	1,862
Other Investing Activities, net	-	-	0.00	0.00	-7.00	-5.30	-4.20	-4.69	-4.44	-0.12	-2.15
Net Cash From Financing Activities	616	178	1,125	65	823	995	1,247	426	172	294	-305
Net Cash From Continuing Financing Activities	616	178	1,125	65	823	995	1,247	426	172	294	-305
Repayment of Debt	-	-	-120	0.00	-	0.00	500	-762	0.00	0.00	-1,157
Issuance of Debt	-	150	-	0.00	0.00	200	0.00	1,016	0.00	0.00	646
Issuance of Common Equity	617	28	1,245	65	853	300	246	259	147	303	250
Other Financing Activities, net	0.38	-0.60	-	0.00	-30	495	501	-88	25	-8.79	-44
Effect of Exchange Rate Changes	-	-	-	-	-0.08	4.92	-9.02	-7.43	6.39	-15	35
Cash Interest Paid	-	1.10	2.43	-	0.17	0.00	25	45	32	68	219

This table details how cash moves in and out of Alnylam Pharmaceuticals' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	375	-220	-130	286	131	-134	54	94	377	166	54
Net Cash From Operating Activities	359	-30	-82	124	44	-95	-120	154	325	164	71
Net Cash From Continuing Operating Activities	359	-30	-82	124	44	-95	-120	154	325	164	71
Net Income / (Loss) Continuing Operations	148	-138	-66	-17	-112	-84	-18	-66	251	186	206
Consolidated Net Income / (Loss)	148	-138	-66	-17	-112	-84	-18	-66	251	186	206
Depreciation Expense	13	13	14	15	14	14	14	14	14	14	14
Non-Cash Adjustments To Reconcile Net Income	108	69	77	120	78	127	112	150	188	201	136
Changes in Operating Assets and Liabilities, net	80	58	-106	-3.84	50	-117	-229	57	-128	-237	-285
Net Cash From Investing Activities	-11	-241	-68	34	-30	-53	114	-141	501	-37	-26
Net Cash From Continuing Investing Activities	-11	-241	-68	34	-30	-53	114	-141	501	-37	-26
Purchase of Property, Plant & Equipment	-17	-15	-13	-8.02	-4.19	-9.09	-8.97	-14	-12	-23	-22
Purchase of Investments	-421	-589	-460	-316	-450	-487	-450	-469	-210	-236	-266
Sale and/or Maturity of Investments	432	364	405	358	424	443	573	342	725	222	262
Net Cash From Financing Activities	33	39	29	131	103	31	46	54	-448	45	16
Net Cash From Continuing Financing Activities	33	39	29	131	103	31	46	54	-448	45	16
Repayment of Debt	-	-	-	-	-	-	0.00	-	-	-52	-0.01
Issuance of Common Equity	25	31	26	133	108	36	49	81	78	42	13
Other Financing Activities, net	8.33	8.33	3.05	-1.28	-5.28	-5.28	-3.28	-27	-67	57	2.57
Effect of Exchange Rate Changes	-6.55	11	-9.94	-3.12	15	-17	14	28	-0.93	-5.70	-7.06
Cash Interest Paid	9.55	5.44	31	8.16	16	12	69	15	24	113	64
Cash Income Taxes Paid	-	-	1.99	-	-	-	2.97	-1.87	1.28	-	2.37

This table presents Alnylam Pharmaceuticals' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,387	1,263	1,995	1,575	2,395	3,407	3,643	3,546	3,830	4,240	4,966
Total Current Assets	1,105	672	1,765	1,201	1,716	2,615	2,809	2,692	2,983	3,295	4,051
Cash & Equivalents	181	194	645	420	547	497	820	866	813	966	1,657
Short-Term Investments	900	433	1,045	664	989	1,378	1,616	1,326	1,627	1,728	1,251
Accounts Receivable	8.30	23	34	19	43	102	199	238	328	405	778
Inventories, net	-	-	-	24	56	75	86	129	89	79	83
Prepaid Expenses	17	22	40	74	80	63	88	133	126	117	282
Plant, Property, & Equipment, net	28	115	182	321	425	465	502	523	526	503	513
Total Noncurrent Assets	253	476	48	53	254	327	333	331	321	442	403
Long-Term Investments	252	475	44	45	15	41	41	49	49	69	22
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	-	10	117	126
Other Noncurrent Operating Assets	1.47	1.56	4.17	8.62	239	287	292	281	262	256	254
Total Liabilities & Shareholders' Equity	1,387	1,263	1,995	1,575	2,395	3,407	3,643	3,546	3,830	4,240	4,966
Total Liabilities	122	343	228	273	956	2,391	3,055	3,705	4,051	4,173	4,177
Total Current Liabilities	62	132	144	179	353	585	696	768	968	1,186	1,466
Accounts Payable	17	54	28	60	50	52	73	98	56	88	116
Accrued Expenses	29	42	72	113	197	356	395	545	713	794	1,080
Current Deferred Revenue	17	35	44	7.07	78	127	149	42	103	55	4.85
Other Current Liabilities	-	-	-	0.00	28	50	78	82	97	249	266
Total Noncurrent Liabilities	60	211	84	93	604	1,614	2,359	2,937	3,083	2,987	2,711
Long-Term Debt	-	150	30	30	0.00	-	676	1,017	1,021	1,025	1,008
Other Noncurrent Operating Liabilities	1.30	3.07	4.35	4.97	285	1,389	1,531	1,726	1,874	1,962	1,703
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,265	920	1,766	1,302	1,439	1,016	588	-158	-221	67	789
Total Preferred & Common Equity	1,265	920	1,766	1,302	1,439	1,016	588	-158	-221	67	789
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,265	920	1,766	1,302	1,439	1,016	588	-158	-221	67	789
Common Stock	2,507	2,610	3,949	4,176	5,202	5,645	6,060	6,456	6,812	7,389	7,512
Retained Earnings	-1,247	-1,657	-2,148	-2,841	-3,727	-4,585	-5,438	-6,569	-7,010	-7,288	-6,703
Accumulated Other Comprehensive Income / (Loss)	4.37	-33	-34	-33	-37	-44	-33	-45	-23	-35	-20

This table presents Alnylam Pharmaceuticals' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	3,535	3,392	3,402	3,839	3,824	4,010	4,205	4,214	4,566	4,852	5,130
Total Current Assets	2,691	2,541	2,524	2,985	2,989	3,173	3,355	3,268	3,644	3,953	4,219
Cash & Equivalents	1,073	672	658	1,033	682	968	1,100	1,020	1,114	1,490	1,711
Short-Term Investments	1,192	1,398	1,400	1,373	1,689	1,656	1,680	1,613	1,744	1,234	1,298
Accounts Receivable	185	219	221	325	321	309	354	418	567	965	884
Inventories, net	115	132	100	96	94	84	76	66	72	75	84
Prepaid Expenses	126	119	145	158	202	155	145	152	147	188	242
Plant, Property, & Equipment, net	515	523	527	526	523	517	507	499	500	502	518
Total Noncurrent Assets	330	328	351	328	312	320	343	447	423	397	392
Long-Term Investments	49	49	49	49	49	49	69	69	69	51	22
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	107	104	99	117
Other Noncurrent Operating Assets	280	279	301	279	263	270	274	271	250	247	253
Total Liabilities & Shareholders' Equity	3,535	3,392	3,402	3,839	3,824	4,010	4,205	4,214	4,566	4,852	5,130
Total Liabilities	3,603	3,651	3,811	4,005	4,044	4,013	4,173	4,098	4,315	4,618	4,054
Total Current Liabilities	773	673	789	950	942	1,055	1,221	1,076	1,301	1,555	1,349
Accounts Payable	41	62	60	74	78	74	71	97	102	118	127
Accrued Expenses	511	509	599	713	699	809	946	704	919	1,154	946
Current Deferred Revenue	144	36	55	77	77	69	71	28	15	2.54	3.21
Other Current Liabilities	77	67	76	86	88	104	133	246	264	282	273
Total Noncurrent Liabilities	2,830	2,978	3,022	3,055	3,102	2,957	2,952	3,023	3,015	3,062	2,705
Long-Term Debt	1,016	1,018	1,019	1,020	1,022	1,023	1,024	1,026	1,027	1,040	1,009
Other Noncurrent Operating Liabilities	1,681	1,769	1,809	1,839	1,895	1,932	1,927	1,997	1,988	2,022	1,695
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-68	-259	-408	-166	-219	-3.07	32	115	251	234	1,075
Total Preferred & Common Equity	-68	-259	-408	-166	-219	-3.07	32	115	251	234	1,075
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-68	-259	-408	-166	-219	-3.07	32	115	251	234	1,075
Common Stock	6,338	6,523	6,648	6,738	6,883	7,124	7,261	7,498	7,692	7,416	7,597
Retained Earnings	-6,362	-6,743	-7,019	-6,872	-7,076	-7,092	-7,204	-7,345	-7,412	-7,160	-6,497
Accumulated Other Comprehensive Income / (Loss)	-44	-39	-37	-32	-27	-35	-25	-38	-30	-22	-25

This table displays calculated financial ratios and metrics derived from Alnylam Pharmaceuticals' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-18.72%	14.75%	90.66%	-16.69%	193.36%	124.28%	71.31%	22.88%	76.23%	22.97%	65.19%
EBITDA Growth	29.23%	-45.65%	-21.80%	-57.71%	-11.57%	19.40%	10.86%	-40.86%	59.56%	14.97%	286.96%
EBIT Growth	26.60%	-41.39%	-20.24%	-57.01%	-16.30%	16.07%	7.83%	-29.34%	55.63%	12.34%	241.75%
NOPAT Growth	26.91%	-43.44%	-17.78%	-62.91%	-15.31%	11.81%	14.46%	-10.78%	64.06%	37.31%	493.30%
Net Income Growth	19.51%	-41.38%	-19.69%	-55.13%	-16.37%	3.14%	0.64%	-32.64%	61.08%	36.82%	212.79%
EPS Growth	28.87%	-38.84%	-13.15%	-39.67%	-7.13%	8.01%	3.49%	-29.17%	62.15%	38.07%	206.88%
Operating Cash Flow Growth	-14.19%	-62.68%	-24.40%	-46.98%	50.51%	-120.87%	-4.35%	15.65%	119.24%	-107.98%	6,405.10%
Free Cash Flow Firm Growth	51.25%	-85.48%	-32.94%	-60.46%	51.88%	104.50%	-42.16%	-4,357.02%	128.50%	-230.57%	64.05%
Invested Capital Growth	-68.11%	53.62%	297.26%	227.96%	-155.32%	-530.12%	-71.36%	-14.06%	-22.09%	1.02%	32.17%
Revenue Q/Q Growth	-28.61%	26.58%	29.48%	-18.40%	29.95%	22.91%	12.67%	7.96%	6.07%	7.33%	15.70%
EBITDA Q/Q Growth	-19.40%	-4.89%	-6.99%	-9.62%	-7.04%	10.94%	-3.27%	-0.48%	2.89%	-45.28%	411.66%
EBIT Q/Q Growth	-18.75%	-4.17%	-6.64%	-10.52%	-7.26%	9.34%	-2.93%	3.51%	11.77%	-15.98%	845.40%
NOPAT Q/Q Growth	-18.78%	-5.71%	-6.81%	-9.85%	-9.02%	11.14%	-0.05%	0.75%	20.38%	5.98%	162.82%
Net Income Q/Q Growth	-31.41%	-5.73%	-6.35%	-10.00%	-7.88%	3.66%	-1.78%	4.31%	13.66%	16.28%	620.18%
EPS Q/Q Growth	-45.57%	-5.51%	-3.24%	-8.76%	-4.38%	4.36%	-0.84%	4.81%	15.18%	15.50%	913.04%
Operating Cash Flow Q/Q Growth	-9.51%	-8.95%	-6.90%	-9.20%	-19.55%	10.59%	-4.39%	3.25%	5,179.07%	-114.70%	97.12%
Free Cash Flow Firm Q/Q Growth	-3.81%	-12.41%	-4.44%	-3.61%	-38.06%	111.17%	-77.55%	-3.45%	949.02%	-337.48%	52.05%
Invested Capital Q/Q Growth	-27.09%	16.85%	4.91%	-10.37%	12.81%	-9.95%	-2.84%	-1.22%	-5.43%	6.77%	24.51%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	97.59%	88.60%	84.16%	83.40%	83.73%	83.02%	85.62%	81.64%
EBITDA Margin	-673.73%	-855.16%	-546.33%	-1,034.19%	-393.33%	-141.35%	-73.55%	-84.32%	-19.35%	-13.38%	15.14%
Operating Margin	-720.27%	-900.33%	-556.20%	-1,087.56%	-427.50%	-168.09%	-83.94%	-75.68%	-15.43%	-7.87%	13.51%
EBIT Margin	-720.08%	-887.25%	-559.56%	-1,054.54%	-418.07%	-156.46%	-84.18%	-88.61%	-22.31%	-15.90%	13.65%
Profit (Net Income) Margin	-705.83%	-869.63%	-545.95%	-1,016.58%	-403.24%	-174.15%	-101.01%	-109.04%	-24.08%	-12.37%	8.45%
Tax Burden Percent	100.00%	100.00%	100.00%	100.11%	100.10%	100.31%	100.08%	100.37%	101.55%	73.71%	97.09%
Interest Burden Percent	98.02%	98.01%	97.57%	96.30%	96.36%	110.96%	119.90%	122.60%	106.29%	105.56%	63.77%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.91%
Return on Invested Capital (ROIC)	0.00%	0.00%	-2,294.21%	-430.59%	-1,450.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-2,283.60%	-416.95%	-1,432.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	2,257.67%	380.96%	1,385.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-26.36%	-37.54%	-36.54%	-49.63%	-64.66%	-69.92%	-106.31%	-526.14%	232.40%	362.29%	73.28%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-716.28%	-537.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-24.00%	-31.59%	-30.89%	-44.26%	-46.28%	-26.58%	-20.16%	-25.57%	-11.06%	-8.86%	11.01%
Return on Assets (ROA)	-23.52%	-30.96%	-30.14%	-42.67%	-44.64%	-29.58%	-24.19%	-31.47%	-11.94%	-6.89%	6.82%
Return on Common Equity (ROCE)	-26.36%	-37.54%	-36.54%	-49.63%	-64.66%	-69.92%	-106.31%	-526.14%	232.40%	362.29%	73.28%
Return on Equity Simple (ROE_SIMPLE)	-22.94%	-44.57%	-27.79%	-58.49%	-61.59%	-84.46%	-144.99%	714.91%	199.53%	-414.62%	0.00%
Net Operating Profit after Tax (NOPAT)	-207	-297	-350	-570	-658	-580	-496	-550	-198	-124	487
NOPAT Margin	-504.19%	-630.23%	-389.34%	-761.30%	-299.25%	-117.66%	-58.75%	-52.97%	-10.80%	-5.51%	13.11%
Net Nonoperating Expense Percent (NNEP)	-7.18%	-9.89%	-10.60%	-13.64%	-17.25%	-17.00%	-20.24%	-38.45%	-18.03%	-9.63%	-9.46%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-64.00%	-24.69%	-11.34%	27.10%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	2.41%	11.40%	15.84%	16.60%	16.27%	16.98%	14.38%	18.36%
SG&A Expenses to Revenue	147.48%	189.47%	221.73%	510.44%	217.98%	119.39%	73.51%	74.29%	43.52%	43.39%	32.60%
R&D to Revenue	672.79%	810.86%	434.46%	674.72%	298.12%	132.86%	93.83%	85.12%	54.94%	50.09%	35.54%
Operating Expenses to Revenue	820.27%	1,000.33%	656.20%	1,185.16%	516.10%	252.25%	167.34%	159.40%	98.46%	93.48%	68.13%
Earnings before Interest and Taxes (EBIT)	-296	-418	-503	-790	-919	-771	-711	-919	-408	-358	507
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-277	-403	-491	-775	-864	-697	-621	-875	-354	-301	562
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.31	3.49	6.67	5.66	8.93	14.86	34.48	0.00	0.00	452.40	66.57
Price to Tangible Book Value (P/TBV)	6.31	3.49	6.67	5.66	8.93	14.86	34.48	0.00	0.00	452.40	66.57
Price to Revenue (P/Rev)	194.10	68.13	131.03	98.34	58.43	30.64	24.02	28.18	13.14	13.50	14.15
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	167.44
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.60%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	162.81	30.87	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	161.68	47.95	112.08	83.66	51.37	26.75	21.89	27.00	12.34	12.73	13.63
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	89.99
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	99.87
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	103.93
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	216.53	0.00	96.57
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	856.53	2,075.70	0.00	208.74	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.16	0.02	0.02	0.00	0.00	1.15	-6.43	-4.63	15.27	1.28
Long-Term Debt to Equity	0.00	0.16	0.02	0.02	0.00	0.00	1.15	-6.43	-4.63	15.27	1.28
Financial Leverage	-1.05	-1.05	-0.99	-0.91	-0.97	-1.33	-2.20	-7.04	7.11	20.88	-4.28
Leverage Ratio	1.12	1.21	1.21	1.16	1.45	2.36	4.39	16.72	-19.47	-52.55	10.75
Compound Leverage Factor	1.10	1.19	1.18	1.12	1.40	2.62	5.27	20.50	-20.69	-55.47	6.86
Debt to Total Capital	0.00%	14.02%	1.67%	2.25%	0.00%	0.00%	53.46%	118.43%	127.58%	93.85%	56.08%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	14.02%	1.67%	2.25%	0.00%	0.00%	53.46%	118.43%	127.58%	93.85%	56.08%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	85.98%	98.33%	97.75%	100.00%	100.00%	46.54%	-18.43%	-27.58%	6.15%	43.92%
Debt to EBITDA	0.00	-0.37	-0.06	-0.04	0.00	0.00	-1.09	-1.16	-2.89	-3.41	1.79
Net Debt to EBITDA	0.00	2.36	3.47	1.42	0.00	0.00	2.90	1.40	4.15	5.78	-3.42
Long-Term Debt to EBITDA	0.00	-0.37	-0.06	-0.04	0.00	0.00	-1.09	-1.16	-2.89	-3.41	1.79
Debt to NOPAT	0.00	-0.50	-0.09	-0.05	0.00	0.00	-1.36	-1.85	-5.17	-8.28	2.07
Net Debt to NOPAT	0.00	3.20	4.87	1.93	0.00	0.00	3.63	2.23	7.43	14.04	-3.95
Long-Term Debt to NOPAT	0.00	-0.50	-0.09	-0.05	0.00	0.00	-1.36	-1.85	-5.17	-8.28	2.07
Altman Z-Score	38.27	3.25	29.64	12.84	5.39	2.02	2.18	2.23	1.75	2.81	7.37
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	17.80	5.10	12.23	6.69	4.87	4.47	4.04	3.51	3.08	2.78	2.76
Quick Ratio	17.53	4.94	11.96	6.14	4.48	3.38	3.79	3.16	2.86	2.61	2.51
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-180	-333	-443	-711	-342	15	8.90	-379	108	-141	-51
Operating Cash Flow to CapEx	-1,460.54%	-476.63%	-367.33%	-443.40%	-198.66%	-874.01%	-840.22%	-751.15%	167.42%	-24.25%	892.86%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.18	0.06	-1.63	0.89	-0.99	-0.17
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	-7.28	-4.49	-2.33	0.86	-0.06	1.78
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-8.11	-5.02	-2.64	0.35	-0.30	1.58
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.03	0.04	0.06	0.04	0.11	0.17	0.24	0.29	0.50	0.56	0.81
Accounts Receivable Turnover	1.70	2.98	3.14	2.84	7.12	6.78	5.61	4.75	6.46	6.13	6.28
Inventory Turnover	0.00	0.00	0.00	0.00	0.62	1.19	1.73	1.57	2.85	3.86	8.46
Fixed Asset Turnover	1.66	0.66	0.61	0.30	0.59	1.11	1.75	2.02	3.48	4.37	7.31
Accounts Payable Turnover	0.00	0.00	0.00	0.04	0.46	1.53	2.24	1.97	4.04	4.49	6.68
Days Sales Outstanding (DSO)	214.20	122.41	116.38	128.55	51.30	53.85	65.06	76.79	56.47	59.51	58.13
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	585.58	307.59	210.40	232.78	128.23	94.62	43.15
Days Payable Outstanding (DPO)	0.00	0.00	0.00	8,918.70	798.04	238.14	163.29	185.42	90.32	81.23	54.64
Cash Conversion Cycle (CCC)	214.20	122.41	116.38	-8,790.15	-161.16	123.29	112.17	124.15	94.39	72.90	46.64
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-68	-31	62	203	-112	-708	-1,213	-1,383	-1,689	-1,671	-1,134
Invested Capital Turnover	-0.76	-0.95	5.89	0.57	4.85	-1.20	-0.88	-0.80	-1.19	-1.34	-2.65
Increase / (Decrease) in Invested Capital	-27	36	93	141	-315	-595	-505	-171	-306	17	538
Enterprise Value (EV)	6,645	2,261	10,077	6,267	11,289	13,185	18,481	28,013	22,553	28,612	50,612
Market Capitalization	7,977	3,213	11,781	7,366	12,840	15,100	20,282	29,238	24,021	30,350	52,535
Book Value per Share	$14.93	$10.72	$19.05	$12.89	$12.90	$8.75	$4.92	($1.29)	($1.76)	$0.52	$5.97
Tangible Book Value per Share	$14.93	$10.72	$19.05	$12.89	$12.90	$8.75	$4.92	($1.29)	($1.76)	$0.52	$5.97
Total Capital	1,265	1,070	1,796	1,332	1,439	1,016	1,264	859	800	1,092	1,797
Total Debt	0.00	150	30	30	0.00	0.00	676	1,017	1,021	1,025	1,008
Total Long-Term Debt	0.00	150	30	30	0.00	0.00	676	1,017	1,021	1,025	1,008
Net Debt	-1,332	-952	-1,705	-1,099	-1,551	-1,915	-1,801	-1,225	-1,468	-1,738	-1,923
Capital Expenditures (CapEx)	13	65	104	127	140	70	76	72	62	34	59
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-37	-87	-70	-63	-173	155	-323	-268	-424	-585	-324
Debt-free Net Working Capital (DFNWC)	1,043	540	1,620	1,021	1,363	2,030	2,113	1,924	2,015	2,109	2,584
Net Working Capital (NWC)	1,043	540	1,620	1,021	1,363	2,030	2,113	1,924	2,015	2,109	2,584
Net Nonoperating Expense (NNE)	83	113	141	191	229	278	357	582	243	154	173
Net Nonoperating Obligations (NNO)	-1,332	-952	-1,705	-1,099	-1,551	-1,724	-1,801	-1,225	-1,468	-1,738	-1,923
Total Depreciation and Amortization (D&A)	19	15	12	15	54	74	90	44	54	57	56
Debt-free, Cash-free Net Working Capital to Revenue	-90.62%	-183.68%	-78.00%	-84.04%	-78.68%	31.47%	-38.22%	-25.84%	-23.22%	-26.04%	-8.73%
Debt-free Net Working Capital to Revenue	2,538.60%	1,145.44%	1,802.31%	1,363.28%	620.37%	411.79%	250.25%	185.49%	110.21%	93.81%	69.58%
Net Working Capital to Revenue	2,538.60%	1,145.44%	1,802.31%	1,363.28%	620.37%	411.79%	250.25%	185.49%	110.21%	93.81%	69.58%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($3.45)	($4.79)	($5.42)	($7.57)	($8.11)	($7.46)	($7.20)	($9.30)	($3.52)	($2.18)	$2.39
Adjusted Weighted Average Basic Shares Outstanding	85.14M	86.01M	99.87M	106.26M	112.58M	117.00M	118.45M	121.69M	124.91M	127.65M	131.00M
Adjusted Diluted Earnings per Share	($3.45)	($4.79)	($5.42)	($7.57)	($8.11)	($7.46)	($7.20)	($9.30)	($3.52)	($2.18)	$2.33
Adjusted Weighted Average Diluted Shares Outstanding	85.14M	86.01M	99.87M	106.26M	112.58M	117.00M	118.45M	121.69M	124.91M	127.65M	134.68M
Adjusted Basic & Diluted Earnings per Share	($3.45)	($4.79)	($5.42)	($7.57)	($8.11)	($7.46)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	83.99M	85.60M	90.55M	100.59M	109.26M	114.99M	120.21M	124.13M	125.95M	129.46M	132.62M
Normalized Net Operating Profit after Tax (NOPAT)	-207	-297	-350	-570	-658	-580	-496	-550	-198	-124	487
Normalized NOPAT Margin	-504.19%	-630.23%	-389.34%	-761.30%	-299.25%	-117.66%	-58.75%	-52.97%	-10.80%	-5.51%	13.11%
Pre Tax Income Margin	-705.83%	-869.63%	-545.95%	-1,015.48%	-402.85%	-173.60%	-100.93%	-108.63%	-23.71%	-16.79%	8.70%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	-9.13	-4.97	-3.95	-3.36	-2.52	1.72
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	-6.86	-3.47	-2.36	-1.63	-0.87	1.65
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-9.96	-5.50	-4.26	-3.88	-2.76	1.52
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-7.70	-4.00	-2.67	-2.14	-1.11	1.45
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Alnylam Pharmaceuticals' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	132,623,144.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	132,623,144.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.55
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	183.96%	31.25%	54.82%	107.00%	-33.26%	34.90%	20.20%	17.26%	149.35%	84.95%	96.43%
EBITDA Growth	165.26%	30.30%	76.11%	107.28%	-144.17%	-39.40%	61.27%	-209.38%	432.75%	263.34%	566.84%
EBIT Growth	152.76%	28.47%	64.22%	97.33%	-168.14%	-36.01%	45.46%	-218.69%	376.07%	243.64%	869.42%
NOPAT Growth	216.05%	38.28%	71.01%	121.15%	-125.68%	9.66%	141.62%	-133.32%	818.21%	307.01%	1,872.94%
Net Income Growth	136.40%	33.55%	62.13%	93.88%	-175.51%	39.24%	12.82%	-292.43%	325.05%	322.56%	1,228.66%
EPS Growth	134.64%	37.28%	62.86%	94.12%	-175.65%	37.74%	15.38%	-292.31%	311.49%	318.18%	1,178.57%
Operating Cash Flow Growth	411.76%	77.42%	51.03%	310.49%	-87.84%	-217.71%	-45.14%	23.82%	643.84%	272.78%	158.60%
Free Cash Flow Firm Growth	6,551.30%	482.15%	319.44%	561.59%	-69.15%	-140.55%	-120.21%	-108.68%	-30.36%	-324.05%	-694.66%
Invested Capital Growth	-17.22%	-22.09%	-18.86%	-10.58%	-11.93%	1.02%	3.61%	0.32%	16.23%	32.17%	39.31%
Revenue Q/Q Growth	135.46%	-41.41%	12.42%	33.48%	-24.08%	18.42%	0.17%	30.21%	61.44%	-12.17%	6.39%
EBITDA Q/Q Growth	174.33%	-168.58%	71.19%	154.17%	-551.08%	-116.43%	89.98%	49.74%	3,654.83%	-8.76%	-0.99%
EBIT Q/Q Growth	158.89%	-187.55%	57.60%	87.77%	-1,400.96%	-74.76%	83.00%	28.54%	1,400.26%	-9.07%	-1.06%
NOPAT Q/Q Growth	230.30%	-138.87%	62.69%	211.92%	-258.20%	-36.74%	117.19%	-189.61%	3,509.71%	-60.59%	63.83%
Net Income Q/Q Growth	153.53%	-193.31%	52.18%	74.39%	-560.61%	24.92%	31.38%	-15.31%	478.84%	-25.75%	10.50%
EPS Q/Q Growth	152.04%	-192.17%	50.94%	75.00%	-569.23%	24.14%	33.33%	-15.91%	460.78%	-21.74%	4.86%
Operating Cash Flow Q/Q Growth	709.32%	-108.29%	-173.59%	252.31%	-64.80%	-316.58%	-24.99%	229.93%	111.48%	-49.69%	-56.89%
Free Cash Flow Firm Q/Q Growth	1,431.15%	-49.64%	1.03%	-15.07%	-28.61%	-166.20%	49.66%	63.51%	672.60%	-503.10%	5.66%
Invested Capital Q/Q Growth	-7.05%	-5.43%	4.17%	-2.24%	-8.37%	6.77%	6.68%	-5.72%	8.93%	24.51%	16.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	88.77%	80.47%	86.65%	89.59%	82.85%	82.67%	88.04%	81.52%	83.98%	75.60%	81.91%
EBITDA Margin	23.95%	-28.03%	-6.57%	2.67%	-15.85%	-28.97%	-2.90%	-1.12%	24.63%	25.59%	23.81%
Operating Margin	28.50%	-26.47%	-8.79%	7.37%	-15.35%	-17.73%	3.04%	-2.09%	29.46%	12.01%	23.02%
EBIT Margin	20.81%	-31.10%	-11.73%	-1.07%	-21.25%	-31.36%	-5.32%	-2.92%	23.52%	24.35%	22.65%
Profit (Net Income) Margin	19.69%	-31.35%	-13.34%	-2.56%	-22.27%	-14.12%	-9.67%	-8.57%	20.10%	16.99%	17.65%
Tax Burden Percent	98.02%	100.13%	103.69%	151.24%	102.68%	43.19%	138.18%	187.45%	105.07%	115.69%	92.93%
Interest Burden Percent	96.50%	100.68%	109.67%	157.48%	102.10%	104.28%	131.54%	156.47%	81.33%	60.31%	83.85%
Effective Tax Rate	1.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-5.07%	-15.69%	7.07%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	436.71%	232.40%	138.80%	35.48%	497.73%	362.29%	519.47%	-257.82%	32.73%	73.28%	90.36%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	9.73%	-15.42%	-6.51%	-0.68%	-11.07%	-17.47%	-3.11%	-1.68%	16.68%	19.65%	20.78%
Return on Assets (ROA)	9.20%	-15.54%	-7.41%	-1.62%	-11.60%	-7.87%	-5.65%	-4.92%	14.25%	13.71%	16.20%
Return on Common Equity (ROCE)	436.71%	232.40%	138.80%	35.48%	497.73%	362.29%	519.47%	-257.82%	32.73%	73.28%	90.36%
Return on Equity Simple (ROE_SIMPLE)	307.40%	0.00%	151.44%	2,378.25%	-1,026.96%	0.00%	-233.64%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	210	-81	-30	34	-54	-74	13	-11	387	152	250
NOPAT Margin	27.93%	-18.53%	-6.15%	5.16%	-10.75%	-12.41%	2.13%	-1.47%	30.96%	13.89%	21.39%
Net Nonoperating Expense Percent (NNEP)	-4.53%	-4.19%	-2.84%	-3.72%	-3.54%	-0.63%	-4.56%	-3.09%	-7.61%	1.86%	-2.36%
Return On Investment Capital (ROIC_SIMPLE)	-	-10.18%	-	-	-	-6.74%	1.11%	-0.89%	30.34%	8.48%	11.98%
Cost of Revenue to Revenue	11.23%	19.53%	13.35%	10.41%	17.15%	17.33%	11.96%	18.48%	16.02%	24.40%	18.09%
SG&A Expenses to Revenue	26.54%	45.06%	42.64%	37.65%	44.12%	49.79%	40.38%	41.79%	25.79%	29.66%	27.64%
R&D to Revenue	33.73%	61.89%	52.80%	44.58%	54.09%	50.60%	44.62%	41.83%	28.73%	33.93%	31.26%
Operating Expenses to Revenue	60.27%	106.95%	95.44%	82.22%	98.20%	100.39%	85.00%	83.62%	54.51%	63.59%	58.90%
Earnings before Interest and Taxes (EBIT)	156	-137	-58	-7.09	-106	-186	-32	-23	294	267	264
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	180	-123	-32	18	-79	-172	-17	-8.65	308	281	278
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	1,091.32	452.40	302.82	169.67	255.55	66.57	40.81
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	1,091.32	452.40	302.82	169.67	255.55	66.57	40.81
Price to Revenue (P/Rev)	12.84	13.14	9.36	13.11	16.86	13.50	14.89	17.27	18.62	14.15	10.24
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,372.02	167.44	81.56
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.60%	1.23%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	12.01	12.34	8.66	12.41	15.98	12.73	14.17	16.50	18.08	13.63	9.76
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	558.63	0.00	0.00	0.00	0.00	527.96	89.99	52.41
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,082.67	99.87	56.27
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	404.82	0.00	0.00	0.00	0.00	313.22	103.93	56.60
Enterprise Value to Operating Cash Flow (EV/OCF)	10,492.53	216.53	91.77	78.13	592.05	0.00	0.00	0.00	218.29	96.57	58.55
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	208.74	129.78	126.41	563.66	0.00	0.00	0.00	0.00	0.00	331.32
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-6.15	-4.63	-4.66	-333.45	31.64	15.27	8.88	4.10	4.45	1.28	0.94
Long-Term Debt to Equity	-6.15	-4.63	-4.66	-333.45	31.64	15.27	8.88	4.10	4.45	1.28	0.94
Financial Leverage	11.71	7.11	5.23	6.66	24.43	20.88	29.61	-14.35	-13.37	-4.28	-3.10
Leverage Ratio	-31.58	-19.47	-15.08	-18.03	-60.25	-52.55	-77.41	34.65	34.02	10.75	7.85
Compound Leverage Factor	-30.48	-19.60	-16.54	-28.39	-61.51	-54.80	-101.83	54.21	27.66	6.48	6.58
Debt to Total Capital	119.42%	127.58%	127.33%	100.30%	96.94%	93.85%	89.88%	80.38%	81.64%	56.08%	48.42%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	119.42%	127.58%	127.33%	100.30%	96.94%	93.85%	89.88%	80.38%	81.64%	56.08%	48.42%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-19.42%	-27.58%	-27.33%	-0.30%	3.06%	6.15%	10.12%	19.62%	18.36%	43.92%	51.58%
Debt to EBITDA	-2.80	-2.89	-4.93	19.64	-4.94	-3.41	-3.75	-3.54	9.46	1.79	1.26
Net Debt to EBITDA	3.94	4.15	6.75	-31.72	8.81	5.78	6.12	6.55	-15.79	-3.42	-2.53
Long-Term Debt to EBITDA	-2.80	-2.89	-4.93	19.64	-4.94	-3.41	-3.75	-3.54	9.46	1.79	1.26
Debt to NOPAT	-4.11	-5.17	-8.30	14.23	-7.77	-8.28	-12.70	-8.14	5.61	2.07	1.36
Net Debt to NOPAT	5.79	7.43	11.37	-22.98	13.86	14.04	20.74	15.06	-9.37	-3.95	-2.73
Long-Term Debt to NOPAT	-4.11	-5.17	-8.30	14.23	-7.77	-8.28	-12.70	-8.14	5.61	2.07	1.36
Altman Z-Score	2.03	1.99	1.31	3.33	3.70	2.94	3.83	4.78	7.15	7.21	6.40
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.14	3.08	3.17	3.01	2.75	2.78	3.04	2.80	2.54	2.76	3.13
Quick Ratio	2.88	2.86	2.86	2.78	2.57	2.61	2.84	2.63	2.37	2.51	2.89
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	445	224	226	192	137	-91	-46	-17	96	-385	-364
Operating Cash Flow to CapEx	2,102.81%	-194.62%	-628.34%	1,548.49%	1,042.63%	-1,040.93%	-1,319.00%	1,075.56%	2,677.56%	702.19%	322.92%
Free Cash Flow to Firm to Interest Expense	14.40	7.15	6.42	5.78	3.99	-2.33	-1.18	-0.41	1.14	-2.90	-5.25
Operating Cash Flow to Interest Expense	11.63	-0.95	-2.31	3.73	1.27	-2.43	-3.06	3.82	3.89	1.23	1.02
Operating Cash Flow Less CapEx to Interest Expense	11.08	-1.44	-2.68	3.49	1.15	-2.66	-3.29	3.46	3.75	1.06	0.70
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.47	0.50	0.56	0.63	0.52	0.56	0.58	0.57	0.71	0.81	0.92
Accounts Receivable Turnover	6.76	6.46	7.41	8.84	6.17	6.13	6.35	5.62	4.87	6.28	6.59
Inventory Turnover	2.61	2.85	2.85	3.31	3.57	3.86	4.12	5.17	6.83	8.46	10.99
Fixed Asset Turnover	3.31	3.48	3.83	4.49	4.06	4.37	4.59	4.84	6.36	7.31	8.43
Accounts Payable Turnover	4.82	4.04	4.58	4.56	4.24	4.49	3.74	4.57	5.49	6.68	7.34
Days Sales Outstanding (DSO)	54.00	56.47	49.27	41.27	59.18	59.51	57.47	64.98	74.97	58.13	55.43
Days Inventory Outstanding (DIO)	139.79	128.23	128.21	110.43	102.30	94.62	88.67	70.55	53.44	43.15	33.22
Days Payable Outstanding (DPO)	75.70	90.32	79.69	80.06	86.15	81.23	97.55	79.93	66.51	54.64	49.74
Cash Conversion Cycle (CCC)	118.08	94.39	97.79	71.63	75.33	72.90	48.59	55.60	61.90	46.64	38.90
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-1,602	-1,689	-1,618	-1,654	-1,793	-1,671	-1,560	-1,649	-1,502	-1,134	-947
Invested Capital Turnover	-1.16	-1.19	-1.34	-1.49	-1.23	-1.34	-1.48	-1.49	-1.95	-2.65	-3.42
Increase / (Decrease) in Invested Capital	-235	-306	-257	-158	-191	17	58	5.35	291	538	613
Enterprise Value (EV)	20,702	22,553	17,356	29,086	33,483	28,612	33,281	40,619	58,036	50,612	41,859
Market Capitalization	22,138	24,021	18,755	30,738	35,308	30,350	34,956	42,518	59,772	52,535	43,881
Book Value per Share	($1.33)	($1.76)	($1.74)	($0.02)	$0.25	$0.52	$0.89	$1.92	$1.78	$5.97	$8.11
Tangible Book Value per Share	($1.33)	($1.76)	($1.74)	($0.02)	$0.25	$0.52	$0.89	$1.92	$1.78	$5.97	$8.11
Total Capital	854	800	802	1,020	1,056	1,092	1,141	1,277	1,274	1,797	2,085
Total Debt	1,020	1,021	1,022	1,023	1,024	1,025	1,026	1,027	1,040	1,008	1,009
Total Long-Term Debt	1,020	1,021	1,022	1,023	1,024	1,025	1,026	1,027	1,040	1,008	1,009
Net Debt	-1,436	-1,468	-1,399	-1,651	-1,825	-1,738	-1,675	-1,900	-1,736	-1,923	-2,022
Capital Expenditures (CapEx)	17	15	13	8.02	4.19	9.09	8.97	14	12	23	22
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-371	-424	-324	-507	-645	-585	-440	-515	-327	-324	-139
Debt-free Net Working Capital (DFNWC)	2,036	2,015	2,047	2,118	2,135	2,109	2,193	2,343	2,397	2,584	2,870
Net Working Capital (NWC)	2,036	2,015	2,047	2,118	2,135	2,109	2,193	2,343	2,397	2,584	2,870
Net Nonoperating Expense (NNE)	62	56	36	51	58	10	70	55	136	-34	44
Net Nonoperating Obligations (NNO)	-1,436	-1,468	-1,399	-1,651	-1,825	-1,738	-1,675	-1,900	-1,736	-1,923	-2,022
Total Depreciation and Amortization (D&A)	24	13	25	25	27	14	14	14	14	14	14
Debt-free, Cash-free Net Working Capital to Revenue	-21.50%	-23.22%	-16.19%	-21.63%	-30.81%	-26.04%	-18.72%	-20.91%	-10.20%	-8.73%	-3.25%
Debt-free Net Working Capital to Revenue	118.10%	110.21%	102.17%	90.33%	101.91%	93.81%	93.38%	95.16%	74.68%	69.58%	66.94%
Net Working Capital to Revenue	118.10%	110.21%	102.17%	90.33%	101.91%	93.81%	93.38%	95.16%	74.68%	69.58%	66.94%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.18	($1.09)	($0.52)	($0.13)	($0.87)	($0.66)	($0.44)	($0.51)	$1.91	$1.43	$1.55
Adjusted Weighted Average Basic Shares Outstanding	125.22M	124.91M	126.14M	126.73M	128.59M	127.65M	129.68M	130.63M	131.45M	131.00M	132.89M
Adjusted Diluted Earnings per Share	$1.15	($1.06)	($0.52)	($0.13)	($0.87)	($0.66)	($0.44)	($0.51)	$1.84	$1.44	$1.51
Adjusted Weighted Average Diluted Shares Outstanding	131.34M	124.91M	126.14M	126.73M	128.59M	127.65M	129.68M	130.63M	137.35M	134.68M	138.23M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	125.49M	125.95M	126.49M	128.38M	128.98M	129.46M	130.39M	131.08M	132.11M	132.62M	133.51M
Normalized Net Operating Profit after Tax (NOPAT)	210	-81	-30	34	-54	-74	13	-11	258	92	250
Normalized NOPAT Margin	27.93%	-18.53%	-6.15%	5.16%	-10.75%	-12.41%	2.13%	-1.47%	20.62%	8.40%	21.39%
Pre Tax Income Margin	20.08%	-31.31%	-12.86%	-1.69%	-21.69%	-32.70%	-7.00%	-4.57%	19.13%	14.69%	18.99%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.06	-4.36	-1.64	-0.21	-3.10	-4.77	-0.82	-0.56	3.52	2.01	3.82
NOPAT to Interest Expense	6.79	-2.60	-0.86	1.02	-1.57	-1.89	0.33	-0.28	4.63	1.15	3.60
EBIT Less CapEx to Interest Expense	4.50	-4.85	-2.01	-0.45	-3.22	-5.01	-1.05	-0.92	3.37	1.84	3.50
NOPAT Less CapEx to Interest Expense	6.23	-3.09	-1.23	0.78	-1.69	-2.12	0.10	-0.64	4.48	0.97	3.29
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

ALNYLAM Pharmaceuticals (ALNY) shows a clear revenue and profitability rebound in 2025 after a challenging early year. Below are the key trends drawn from the last four years of quarterly statements (Q1–Q4 2022 through Q4 2025). The items are grouped to highlight positives first, then neutral items, and finally potential negatives.

Revenue momentum: Q4 2025 total revenue reached about $1.097 billion, up from about $593 million in Q4 2024, signaling a meaningful top-line acceleration.
Profitability recovery: Net income attributable to common shareholders was $251.1 million in Q3 2025 and $186.4 million in Q4 2025, marking a move back into GAAP profitability in the second half of 2025 after earlier quarterly losses.
Strong operating cash flow: Net cash from continuing operating activities was $325.1 million in Q3 2025 and $163.6 million in Q4 2025, illustrating improved cash generation from core operations.
Liquidity improvement: Cash and cash equivalents rose to about $1.49 billion by Q3 2025, providing solid near-term liquidity into the latter part of 2025.

Balance sheet growth appears to continue as the company scales: Total assets reached about $4.85 billion by Q3 2025, up from prior periods, with liabilities also climbing as a result of ongoing investments.
Funding activity via equity: Across 2025, the company issued common equity totaling roughly $250 million to support operations, reflecting a financing strategy to fund growth and preclinical/clinical development.
Early-2025 performance: The year started with quarterly losses in Q1 and Q2 2025 before the Q3–Q4 rebound, indicating a turning point rather than a straight-line trajectory.

Ongoing high operating costs: SG&A and R&D remain sizable (for example, SG&A about $325 million and R&D about $372 million in Q4 2025), which weigh on near-term margins despite revenue gains.
Liability burden and leverage: Total liabilities were around $4.62 billion by Q3 2025, indicating a relatively high leverage level given the equity base and persistent operating losses in earlier periods.
Interest expense remains material: Interest expense was reported at about $132.7 million in Q4 2025, contributing to ongoing pressure on bottom-line profitability.

05/07/26 09:27 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Alnylam Pharmaceuticals' Financials

When does Alnylam Pharmaceuticals' financial year end?

According to the most recent income statement we have on file, Alnylam Pharmaceuticals' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Alnylam Pharmaceuticals' net income changed over the last 10 years?

Alnylam Pharmaceuticals' net income appears to be on a downward trend, with a most recent value of $313.75 million in 2025, falling from -$290.07 million in 2015. The previous period was -$278.16 million in 2024. See where experts think Alnylam Pharmaceuticals is headed by visiting Alnylam Pharmaceuticals' forecast page.

What is Alnylam Pharmaceuticals' operating income?

Alnylam Pharmaceuticals' total operating income in 2025 was $501.58 million, based on the following breakdown:

Total Gross Profit: $3.03 billion
Total Operating Expenses: $2.53 billion

How has Alnylam Pharmaceuticals' revenue changed over the last 10 years?

Over the last 10 years, Alnylam Pharmaceuticals' total revenue changed from $41.10 million in 2015 to $3.71 billion in 2025, a change of 8,937.0%.

How much debt does Alnylam Pharmaceuticals have?

Alnylam Pharmaceuticals' total liabilities were at $4.18 billion at the end of 2025, a 0.1% increase from 2024, and a 3,329.6% increase since 2015.

How much cash does Alnylam Pharmaceuticals have?

In the past 10 years, Alnylam Pharmaceuticals' cash and equivalents has ranged from $180.90 million in 2015 to $1.66 billion in 2025, and is currently $1.66 billion as of their latest financial filing in 2025.

How has Alnylam Pharmaceuticals' book value per share changed over the last 10 years?

Over the last 10 years, Alnylam Pharmaceuticals' book value per share changed from 14.93 in 2015 to 5.97 in 2025, a change of -60.0%.

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Financial statements for NASDAQ:ALNY last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Alnylam Pharmaceuticals (ALNY) Financials

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