ALNY financial statements

The full income statement, balance sheet, and cash-flow statement for Alnylam Pharmaceuticals Inc. (ALNY), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 128.4M2024-09 129.0M2024-12 129.5M2025-03 130.4M2025-06 131.1M2025-09 132.1M2025-12 132.6M2026-03 133.5M2026-06 133.8M+4.2% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	3.71B YoY+65.2%	2.25B YoY+23.0%	1.83B YoY+76.2%	1.04B YoY+22.9%	844M YoY+71.3%
Cost of revenue	677M YoY+120.9%	307M YoY+14.3%	268M YoY+91.3%	140M YoY+21.9%	115M YoY+55.0%
Research & development	1.32B YoY+17.2%	1.13B YoY+12.1%	1.00B YoY+13.7%	883M YoY+11.5%	792M YoY+21.0%
Selling, general & administrative	1.21B YoY+24.1%	976M YoY+22.6%	796M YoY+3.2%	771M YoY+24.2%	621M YoY+5.5%
Operating income	502M YoY+383.6%	-177M YoY+37.3%	-282M YoY+64.1%	-785M YoY-10.8%	-709M YoY+14.5%
Interest expense	253M YoY+78.1%	142M YoY+17.0%	121M YoY-22.3%	156M YoY+9.1%	143M YoY+69.3%
Interest & investment income	111M YoY-8.6%	122M YoY+27.7%	95.6M YoY+285.2%	24.8M YoY+1471.1%	1.58M YoY-86.6%
Other non-operating income	5.20M YoY+102.9%	-181M YoY-43.7%	-126M YoY+6.3%	-134M YoY-6445.1%	-2.05M YoY-103.6%
Gain (loss) on equity securities	-2.31M YoY+23.7%	-3.02M YoY+82.2%	-16.9M YoY+49.1%	-33.3M YoY-159.8%	55.7M YoY+3.1%
Pre-tax income	323M YoY+185.6%	-377M YoY+13.0%	-434M YoY+61.5%	-1.13B YoY-32.3%	-852M YoY+0.4%
Income tax	9.40M YoY+109.5%	-99.2M YoY-1575.4%	6.72M YoY+61.5%	4.16M YoY+512.2%	680K YoY-74.6%
Net income	314M YoY+212.8%	-278M YoY+36.8%	-440M YoY+61.1%	-1.13B YoY-32.6%	-853M YoY+0.6%
	$2.33 YoY+206.9%	-$2.18 YoY+38.1%	-$3.52 YoY+62.2%	-$9.30 YoY-29.2%	-$7.20 YoY+3.5%
EPS (basic)	$2.39 YoY+209.6%	-$2.18 YoY+38.1%	-$3.52 YoY+62.2%	-$9.30 YoY-29.2%	-$7.20 YoY+3.5%
	131M YoY+2.6%	128M YoY+2.2%	125M YoY+2.6%	122M YoY+2.7%	118M YoY+3.0%
	135M YoY+5.5%	128M YoY+2.2%	125M YoY+2.6%	122M YoY+2.7%	118M YoY+3.0%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	4.05B YoY+22.9%	3.30B YoY+10.5%	2.98B YoY+10.8%	2.69B YoY-4.1%	2.81B YoY+7.4%
Cash & equivalents	1.66B YoY+71.5%	966M YoY+18.9%	813M YoY-6.2%	866M YoY+5.7%	820M YoY+65.1%
Accounts receivable	778M YoY+91.8%	405M YoY+23.6%	328M YoY+37.7%	238M YoY+19.8%	199M YoY+93.9%
Inventory	82.7M YoY+5.4%	78.5M YoY-11.9%	89.1M YoY-30.9%	129M YoY+49.3%	86.4M YoY+14.8%
Prepaid expenses	282M YoY+141.0%	117M YoY-7.5%	126M YoY-4.9%	133M YoY+50.9%	88.1M YoY+40.3%
	4.97B YoY+17.1%	4.24B YoY+10.7%	3.83B YoY+8.0%	3.55B YoY-2.7%	3.64B YoY+6.9%
Property, plant & equipment	513M YoY+2.1%	503M YoY-4.4%	526M YoY+0.5%	523M YoY+4.3%	502M YoY+7.9%
Operating lease right-of-use	195M YoY+2.0%	191M YoY-4.3%	200M YoY-7.2%	215M YoY-7.1%	232M YoY-4.1%
Deferred tax assets	126M YoY+7.8%	117M YoY+1056.9%	10.1M	—	—
Other non-current assets	59.5M YoY-9.0%	65.3M YoY+5.5%	61.9M YoY-6.3%	66.1M YoY+9.8%	60.2M YoY+33.7%
	1.47B YoY+23.6%	1.19B YoY+22.6%	968M YoY+26.0%	768M YoY+10.4%	696M YoY+18.9%
Accounts payable	116M YoY+30.9%	88.4M YoY+59.3%	55.5M YoY-43.4%	98.1M YoY+33.6%	73.4M YoY+41.3%
Accrued liabilities	1.08B YoY+36.1%	794M YoY+11.3%	713M YoY+30.7%	545M YoY+38.0%	395M YoY+11.0%
Deferred revenue	4.84M YoY-91.3%	55.5M YoY-46.0%	103M YoY+144.0%	42.1M YoY-71.8%	149M YoY+17.5%
Current lease liability	45.5M YoY+8.7%	41.9M YoY+0.9%	41.5M YoY-1.1%	42.0M YoY+3.5%	40.5M YoY+10.0%
	4.18B YoY+0.1%	4.17B YoY+3.0%	4.05B YoY+9.3%	3.70B YoY+21.3%	3.06B YoY+27.8%
Long-term debt	—	—	—	—	676M YoY+253.3%
Deferred revenue (non-current)	—	0.00 YoY-100.0%	188M YoY-2.9%	194M YoY+27.2%	152M YoY-32.3%
Non-current lease liability	225M YoY-1.9%	230M YoY-5.6%	243M YoY-7.0%	261M YoY-7.1%	281M YoY-4.0%
Operating lease liability (total)	271M YoY-0.3%	271M YoY-4.6%	285M YoY-6.2%	303M YoY-5.8%	322M YoY-2.4%
Other non-current liabilities	7.59M YoY+52.8%	4.97M YoY-98.4%	308M YoY+45.1%	213M YoY+114.8%	99.0M YoY+161.1%
	789M YoY+1076.3%	67.1M YoY+130.4%	-221M YoY-39.5%	-158M YoY-126.9%	588M YoY-42.1%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	1.32M YoY+2.4%	1.29M YoY+2.7%	1.26M YoY+1.5%	1.24M YoY+3.2%	1.20M YoY+3.3%
Additional paid-in capital	7.51B YoY+1.7%	7.39B YoY+8.5%	6.81B YoY+5.5%	6.45B YoY+6.5%	6.06B YoY+7.3%
Retained earnings	-6.70B YoY+8.0%	-7.29B YoY-4.0%	-7.01B YoY-6.7%	-6.57B YoY-20.8%	-5.44B YoY-18.6%
Accumulated other comprehensive income	-20.1M YoY+41.8%	-34.5M YoY-47.7%	-23.4M YoY+47.7%	-44.7M YoY-34.3%	-33.3M YoY+23.8%
Total liabilities & equity	4.97B YoY+17.1%	4.24B YoY+10.7%	3.83B YoY+8.0%	3.55B YoY-2.7%	3.64B YoY+6.9%
	132M YoY+2.4%	129M YoY+2.8%	126M YoY+1.5%	124M YoY+3.1%	120M YoY+3.2%
	132M YoY+2.4%	129M YoY+2.8%	126M YoY+1.5%	124M YoY+3.1%	120M YoY+3.2%
	133M YoY+2.4%	129M YoY+2.8%	126M YoY+1.5%	124M YoY+3.3%	120M YoY+2.7%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	524M YoY+6405.1%	-8.31M YoY-108.0%	104M YoY+119.2%	-541M YoY+15.6%	-642M YoY-4.3%
Depreciation & amortization	55.7M YoY-1.8%	56.7M YoY+4.8%	54.1M YoY+21.6%	44.5M YoY-6.5%	47.6M YoY+36.8%
Share-based compensation	348M YoY+28.0%	272M YoY+22.7%	222M YoY-3.9%	231M YoY+39.2%	166M YoY+18.5%
Deferred income taxes	-2.20M YoY+97.9%	-107M YoY-14873.6%	-713K YoY+50.2%	-1.43M YoY+48.2%	-2.77M YoY+14.0%
Change in receivables	360M YoY+315.9%	86.5M YoY-1.6%	87.9M YoY+92.9%	45.6M YoY-55.2%	102M YoY+81.0%
Change in inventory	-8.47M YoY+37.6%	-13.6M YoY+26.0%	-18.4M YoY-153.8%	34.1M YoY+29.2%	26.4M YoY-25.4%
Other operating activities	-29.8M YoY+23.7%	-39.0M YoY-1538.8%	-2.38M YoY-1244.1%	-177K YoY-100.9%	19.2M YoY+424.7%
	436M YoY+473.4%	-117M YoY+65.3%	-336M YoY-298.6%	169M YoY+162.0%	-273M YoY+37.2%
Capital expenditure	58.7M YoY+71.2%	34.3M YoY-44.9%	62.2M YoY-13.7%	72.1M YoY-5.6%	76.4M YoY+8.5%
Free cash flow	465M YoY+1192.7%	-42.6M YoY-201.5%	41.9M YoY+106.8%	-613M YoY+14.6%	-718M YoY-4.8%
Acquisitions	0.00	0.00	0.00	0.00	0.00
Other investing activities	2.15M YoY+1737.6%	117K YoY-97.4%	4.44M YoY-5.5%	4.69M YoY+11.8%	4.20M YoY-20.8%
	-305M YoY-203.8%	294M YoY+70.9%	172M YoY-59.6%	426M YoY-65.9%	1.25B YoY+25.3%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	0.00	0.00	0.00	0.00	0.00
FX effect on cash	34.9M YoY+329.3%	-15.2M YoY-338.4%	6.39M YoY+186.0%	-7.43M YoY+17.6%	-9.02M YoY-283.4%
Net change in cash	690M YoY+348.8%	154M YoY+386.5%	-53.7M YoY-215.7%	46.4M YoY-85.6%	323M YoY+738.8%
Interest paid	219M YoY+223.6%	67.6M YoY+110.4%	32.1M YoY-29.0%	45.2M YoY+83.5%	24.7M
Income taxes paid	15.1M YoY+5.1%	14.4M YoY+138.5%	6.02M YoY+126.9%	2.65M	—
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	52.7B YoY+73.1%	30.5B YoY+26.8%	24.0B YoY-17.8%	29.2B YoY+43.4%	20.4B YoY+34.1%
P/E	168.1×	—	—	—	—
P/S	14.2× YoY+4.8%	13.5× YoY-2.8%	13.9× YoY-54.2%	30.4× YoY+26.0%	24.1× YoY-21.7%
P/B	66.8× YoY-85.3%	454.1×	—	—	34.7× YoY+131.6%
P/FCF	113.3×	—	—	—	—
	0.59%	—	—	—	—
	0.88%	—	—	—	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: ALNY's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ALNY filings on SEC EDGAR → Not investment advice.