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Pioneer of RNA-interference (RNAi) drugs, selling Onpattro/Amvuttra for ATTR amyloidosis and other genetic diseases.
Pioneer of RNA-interference (RNAi) drugs, selling Onpattro/Amvuttra for ATTR amyloidosis and other genetic diseases.
Sells its own RNAi medicines, led by Amvuttra for ATTR amyloidosis, a buildup of misfolded protein that damages nerves and the heart, and has built its income by widening that drug's approved uses. Its technology is a platform that can be aimed at new targets, which is why it also has partnerships with larger drugmakers such as Roche and Regeneron.
Moat: wide (IP / patents, process know-how). Founding RNAi patents and manufacturing know-how give a multi-year head start over followers.
Headquarters: Cambridge, Massachusetts, United States · Founded: 2002 · Employees: 2,500
Size Alnylam Pharmaceuticals (ALNY) is a United States Health Care company (Pharmaceuticals: Major) with a market value of $20.9B, the 483rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $155.94 on 6 Nov 2026.
Performance Over six months the shares fell 47.1%, against +8.2% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 56.2% over the last twelve months (peer median +21.7%); the operating margin is 19.5% (peer median 22.7%).
Valuation It trades at 22.2× forward earnings against a peer median of 23.5× (9th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +50%, so the hurdle is -49 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 18.9 points above its cost of capital (6.8% WACC).
Credit Alnylam Pharmaceuticals has 2 bonds outstanding ($1.06B).
Short interest Short interest is 4.9% of the free float (15 Oct 2026).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $5.01B | $3.71B | $2.25B | $1.83B | $1.04B |
| Revenue growth | — | +65% | +23% | +76% | — |
| Gross profit | $3.87B | $3.03B | $1.92B | $1.52B | $869M |
| EBITDA | $1.03B | $557M | -$120M | -$228M | -$741M |
| Net income | $2.72B | $314M | -$278M | -$440M | -$1.13B |
| Free cash flow | $752M | $465M | -$42.6M | $41.9M | -$613M |
| Capital expenditure | $150M | $58.7M | $34.3M | $62.2M | $72.1M |
| Total debt | $3.00B | $2.97B | $2.74B | $2.68B | $2.61B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Alnylam Pharmaceuticals ALNY | $20.9B | -47% | +56% | 20% | 22.2× | 0.9% |
| Ionis Pharmaceuticals IONS | $6.55B | -48% | -7% | -68% | n/a | n/a |
| Pfizer PFE | $168B | +14% | +1% | 26% | 10.4× | -4.3% |
| BridgeBio Pharma BBIO | $14.5B | +10% | +167% | -37% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ALNY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -30.6% | +9.3% | lowest of 21 |
| 6-month return | -47.1% | +8.2% | lowest of 21 |
| Distance from 52-week high | -67.5% | -9.6% | lowest of 21 |
| Revenue growth (TTM) | +56.2% | +21.7% | 5th highest of 21 |
| Operating margin | 19.5% | 22.7% | 10th lowest of 21 |
| Forward P/E | 22.2× | 23.5× | 9th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 0.9% | 8.9% | 9th least demanding of 18 |
| Growth delivered (Del g) | +49.8% | +11.7% | 3rd highest of 18 |
| Hurdle (Req g minus delivered) | -48.8 pp | -14.2 pp | 3rd least demanding of 18 |
| ROIC minus cost of capital | +18.9 pp | +7.3 pp | 7th highest of 21 |
| EV / EBITDA | 19.6× | 16.1× | 8th most expensive of 16 |
| Net debt / EBITDA | -0.6× | -0.3× | 8th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Alnylam Pharmaceuticals ALNY | United States | $20.9B | -47% | +56% | 20% | 22.2× | 0.9% | +49.8% |
| Sigma Healthcare SIG.AX | Australia | $22.4B | -1% | +209% | 9% | 37.1× | 28.2% | +26.1% |
| Innovent Biologics 1801.HK | Hong Kong | $19.2B | -5% | +43% | 17% | 53.3× | 11.7% | +26.8% |
| Torrent Pharmaceuticals TORNTPHARM.NS | India | $19.1B | +9% | +42% | 22% | 72.2× | 37.9% | +11.3% |
| Viatris VTRS | United States | $22.9B | +17% | +5% | 10% | 7.5× | 12.5% | +3.7% |
| Incyte INCY | United States | $24.4B | +21% | +25% | 12% | 15.4× | 14.2% | +14.0% |
| Swedish Orphan Biovitrum SOBI.ST | Sweden | $17.6B | +13% | +15% | 30% | 25.5× | -1.1% | +13.1% |
| Insmed INSM | United States | $25.1B | -16% | +240% | -42% | n/a | n/a | n/a |
| Exelixis EXEL | United States | $17.0B | +44% | +9% | 40% | 18.2× | -3.7% | +18.6% |
| Shionogi & 4507.T | Japan | $16.6B | -6% | +46% | 29% | 10.9× | -0.7% | +11.0% |
| Sichuan Biokin Pharmaceutical 688506.SS | China | $16.4B | -3% | +14% | -43% | n/a | n/a | n/a |
| Hansoh Pharma 3692.HK | Hong Kong | $26.9B | -7% | +25% | 38% | 27.5× | 8.9% | +10.8% |
| Orion ORNAV.HE | Finland | $16.1B | +51% | +34% | 38% | 23.5× | -6.3% | +11.7% |
| Ascendis Pharma A/S ASND | United States | $16.0B | +8% | +128% | 10% | 40.8× | 36.4% | +152.4% |
| PharmaEssentia 6446.TW | Taiwan | $15.8B | +118% | +64% | 38% | 39.2× | 29.3% | +94.8% |
| Roivant Sciences ROIV | United States | $28.1B | +36% | -68% | -18,146% | n/a | n/a | n/a |
| Astellas Pharma 4503.T | Japan | $28.2B | +11% | +19% | 23% | 11.6× | -11.0% | +11.4% |
| Jazz Pharmaceuticals Public JAZZ | United States | $15.1B | +4% | +13% | 25% | 8.9× | -3.9% | +12.5% |
| Divi's Laboratories DIVISLAB.NS | India | $29.0B | +54% | +16% | 31% | 82.0× | 50.9% | +8.9% |
| Ipsen IPN.PA | France | $14.7B | -4% | +14% | 30% | 10.9× | -7.3% | +7.2% |
| Yunnan Baiyao 000538.SZ | China | $14.7B | +4% | +5% | 11% | 18.0× | -0.5% | +4.7% |
Alnylam Pharmaceuticals has 2 bonds outstanding with $1.06B face value.