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ALNYLAM PHARMACEUTICALS, INC.

ALNY Clue Score70
United States Fiscal year ends December CIK 0001178670
$232.68 +3.63% Close, 9 Oct 2026
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Price $232.68 +13.76% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue47.2Operating income−424.6Net income−410.1Fiscal year 2017Revenue89.9 +90.7%Operating income−500.1Net income−490.9Fiscal year 2018Revenue74.9 −16.7%Operating income−814.7Net income−761.5Fiscal year 2019Revenue219.8 +193.4%Operating income−939.4Net income−886.1EPS, diluted−8.11Fiscal year 2020Revenue492.9 +124.3%Operating income−828.4Net income−858.3EPS, diluted−7.46Fiscal year 2021Revenue844.3 +71.3%Operating income−708.7Net income−852.8EPS, diluted−7.20Fiscal year 2022Revenue1,037.4 +22.9%Operating income−785.1Net income−1,131.2EPS, diluted−9.30Fiscal year 2023Revenue1,828.3 +76.2%Operating income−282.2Net income−440.2EPS, diluted−3.52Fiscal year 2024Revenue2,248.2 +23.0%Operating income−176.9Net income−278.2EPS, diluted−2.18Fiscal year 2025Revenue3,713.9 +65.2%Operating income501.6Net income313.7EPS, diluted2.33
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 47.2 89.9 74.9 219.8 492.9 844.3 1,037.4 1,828.3 2,248.2 3,713.9
Growth +90.7% −16.7% +193.4% +124.3% +71.3% +22.9% +76.2% +23.0% +65.2%
Operating income −424.6 −500.1 −814.7 −939.4 −828.4 −708.7 −785.1 −282.2 −176.9 501.6
Net income −410.1 −490.9 −761.5 −886.1 −858.3 −852.8 −1,131.2 −440.2 −278.2 313.7
Growth
EPS, diluted n/a n/a n/a −8.11 −7.46 −7.20 −9.30 −3.52 −2.18 2.33
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin−900.3%Net margin−869.6%Free cash flow margin−789.4%Fiscal year 2017Operating margin−556.2%Net margin−545.9%Free cash flow margin−541.6%Fiscal year 2018Operating margin−1,087.6%Net margin−1,016.6%Free cash flow margin−920.5%Fiscal year 2019Operating margin−427.5%Net margin−403.2%Free cash flow margin−190.5%Fiscal year 2020Operating margin−168.1%Net margin−174.1%Free cash flow margin−139.1%Fiscal year 2021Operating margin−83.9%Net margin−101.0%Free cash flow margin−85.0%Fiscal year 2022Operating margin−75.7%Net margin−109.0%Free cash flow margin−59.1%Fiscal year 2023Operating margin−15.4%Net margin−24.1%Free cash flow margin2.3%Fiscal year 2024Operating margin−7.9%Net margin−12.4%Free cash flow margin−1.9%Fiscal year 2025Operating margin13.5%Net margin8.4%Free cash flow margin12.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −900.3% −556.2% −1,087.6% −427.5% −168.1% −83.9% −75.7% −15.4% −7.9% 13.5%
Net margin −869.6% −545.9% −1,016.6% −403.2% −174.1% −101.0% −109.0% −24.1% −12.4% 8.4%
Free cash flow margin −789.4% −541.6% −920.5% −190.5% −139.1% −85.0% −59.1% 2.3% −1.9% 12.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−307.7Capital expenditure−64.6Free cash flow−372.3Fiscal year 2017Operating cash flow−382.8Capital expenditure−104.2Free cash flow−487.0Fiscal year 2018Operating cash flow−562.6Capital expenditure−126.9Free cash flow−689.5Fiscal year 2019Operating cash flow−278.4Capital expenditure−140.2Free cash flow−418.6Fiscal year 2020Operating cash flow−615.0Capital expenditure−70.4Free cash flow−685.3Fiscal year 2021Operating cash flow−641.7Capital expenditure−76.4Free cash flow−718.1Fiscal year 2022Operating cash flow−541.3Capital expenditure−72.1Free cash flow−613.3Fiscal year 2023Operating cash flow104.2Capital expenditure−62.2Free cash flow41.9Fiscal year 2024Operating cash flow−8.3Capital expenditure−34.3Free cash flow−42.6 −201.5%Fiscal year 2025Operating cash flow524.1Capital expenditure−58.7Free cash flow465.4
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −307.7 −382.8 −562.6 −278.4 −615.0 −641.7 −541.3 104.2 −8.3 524.1
Capital expenditure −64.6 −104.2 −126.9 −140.2 −70.4 −76.4 −72.1 −62.2 −34.3 −58.7
Free cash flow −372.3 −487.0 −689.5 −418.6 −685.3 −718.1 −613.3 41.9 −42.6 465.4
Growth −201.5%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash193.6Shareholders’ equity920.2Fiscal year 2017Cash645.4Shareholders’ equity1,766.4Fiscal year 2018Cash420.1Shareholders’ equity1,302.0Fiscal year 2019Cash547.2Shareholders’ equity1,438.7Fiscal year 2020Cash496.6Total debt191.3Net cash (debt)305.3Shareholders’ equity1,016.2Debt to equity0.19Fiscal year 2021Cash820.0Total debt675.7Net cash (debt)144.3Shareholders’ equity588.2Debt to equity1.15Fiscal year 2022Cash866.4Shareholders’ equity−158.2Fiscal year 2023Cash812.7Shareholders’ equity−220.6Fiscal year 2024Cash966.4Shareholders’ equity67.1Fiscal year 2025Cash1,657.3Shareholders’ equity789.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 193.6 645.4 420.1 547.2 496.6 820.0 866.4 812.7 966.4 1,657.3
Total debt n/a n/a n/a n/a 191.3 675.7 n/a n/a n/a n/a
Net cash (debt) n/a n/a n/a n/a 305.3 144.3 n/a n/a n/a n/a
Shareholders’ equity 920.2 1,766.4 1,302.0 1,438.7 1,016.2 588.2 −158.2 −220.6 67.1 789.2
Debt to equity n/a n/a n/a n/a 0.19 1.15 n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
193.6 645.4 420.1 547.2 496.6 820.0 866.4 812.7 966.4 1,657.3
n/a 34.0 18.8 43.0 102.4 198.6 238.0 327.8 405.3 777.6
n/a n/a 24.1 56.3 75.2 86.4 129.0 89.1 78.5 82.7
114.6 181.9 320.7 425.2 465.0 502.0 523.5 526.1 502.8 513.1
1,262.8 1,994.7 1,574.8 2,395.1 3,407.1 3,643.3 3,546.4 3,829.9 4,240.0 4,966.3
Growth +58.0% −21.1% +52.1% +42.2% +6.9% −2.7% +8.0% +10.7% +17.1%
Liabilities
n/a n/a n/a n/a 191.3 675.7 n/a n/a n/a n/a
calc n/a n/a n/a n/a 191.3 675.7 n/a n/a n/a n/a
342.6 228.3 272.8 956.4 2,390.8 3,055.1 3,704.6 4,050.5 4,172.9 4,177.2
Equity
−1,656.8 −2,147.7 −2,841.0 −3,727.1 −4,585.4 −5,438.2 −6,569.3 −7,009.6 −7,287.7 −6,702.5
920.2 1,766.4 1,302.0 1,438.7 1,016.2 588.2 −158.2 −220.6 67.1 789.2
Growth +92.0% −26.3% +10.5% −29.4% −42.1% −126.9% +1,076.3%
Per share and net cash
calc n/a n/a n/a n/a 305.3 144.3 n/a n/a n/a n/a
85.9 99.7 101.2 112.2 116.4 120.2 123.9 125.8 129.3 132.4
calc 10.71 17.72 12.87 12.82 8.73 4.89 −1.28 −1.75 0.52 5.96

Lines marked calc are worked out here from filed figures; point at one for how.