Recent News
On June 3rd Alnylam announced a strategic collaboration with Inceptive Nucleics to apply foundation-model AI to RNAi discovery. The company also scheduled presentations at Heart Failure 2026 and investor conferences in May–June and launched a webcast series for its RNAi Roundtable in late June, highlighting pipeline and platform priorities.
Technical Analysis
Directional indicators: ADX at 16.31 indicates no established trend; DI+ at 20.28 shows an increasing pattern (bullish), and DI- at 20.88 shows a decreasing pattern (bullish). Together these readings favor short-term directional bias but lack trend strength, which limits conviction beyond a few weeks.
MACD: MACD sits at -1.44 with the MACD line above the signal line (-2.94), and the MACD trend shows increasing momentum. That crossover from below signals a shift toward bullish momentum, supporting near-term upside pressure into short-term resistance levels.
MRO: MRO at 19.43 and rising indicates the current price sits above WMDST’s internal target, implying a potential mean-reversion impulse that could cap gains if momentum stalls.
RSI: RSI 47.69 and increasing places momentum below overbought territory while tilting upward; this supports additional short-term buying interest without signaling exhaustion.
Price vs. averages and bands: Last close $301.03 trades above the 20-day average ($288.69) and the 50-day average ($295.92) but well below the 200-day average ($368.49). Price sits essentially at the super-trend upper band (~$301.05), indicating nearby resistance and the potential for limited follow-through if longer-term moving-average hurdles persist.
Fundamental Analysis
Revenue and profitability: Total revenue $1,167,175,000 with YoY revenue growth of 36.17% and QoQ change of -1.53%. Gross margin 81.91%; operating margin 23.02%; and EBIT margin 24.93%, though EBIT margin declined by 51.26 percentage points YoY. The company delivered EPS $1.99 versus an estimate of $1.47, an EPS surprise of 35.37% (beat by $0.52), reflecting stronger-than-expected near-term profitability.
Cash flow and liquidity: Cash and short-term investments total $3,009,223,000; operating cash flow $70,504,000; and free cash flow $48,671,000, producing a free-cash-flow yield of 0.11%. Current ratio 3.13 and cash ratio 2.23 highlight strong near-term liquidity to fund operations and R&D investment.
Balance sheet and leverage: Total debt $1,273,058,000 and debt-to-equity 1.18 with interest-coverage ratio ~4.20. Leverage sits at moderate levels versus balance-sheet liquidity, enabling capital deployment but keeping interest obligations visible relative to operating cash flow.
Valuation metrics and peer context: Trailing P/E 166.32 and forward P/E ~98.69, price-to-book 41.07, price-to-sales 37.84, and enterprise multiple ~139.35 signal elevated market multiples. WMDST values the stock as over-valued. Several operating metrics sit above industry peer mean/median—for example, EBIT margin at 24.93% compares above the industry peer mean of -1.21% and the industry peer median of 0.23%; P/B at 41.07 sits materially above the industry peer mean of 7.55—supporting the over-valued assessment without implying guaranteed downside.
Operational efficiency: Asset turnover 0.231 (above the industry peer mean of 0.0966) and revenue-per-share $8.75 indicate efficient revenue generation from invested assets, which complements the company’s strong gross margins and revenue growth profile.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-30 |
| NEXT REPORT DATE: | 2026-07-30 |
| CASH FLOW | Begin Period Cash Flow | $ 1.7 B |
| Operating Cash Flow | $ 70.5 M | |
| Capital Expenditures | $ -21.83 M | |
| Change In Working Capital | $ -297.73 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 53.6 M | |
| End Period Cash Flow | $ 1.7 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.2 B | |
| Forward Revenue | $ 641.5 M | |
| COSTS | ||
| Cost Of Revenue | $ 211.1 M | |
| Depreciation | $ 13.6 M | |
| Depreciation and Amortization | $ 13.6 M | |
| Research and Development | $ 364.9 M | |
| Total Operating Expenses | $ 898.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 956.1 M | |
| EBITDA | $ 304.5 M | |
| EBIT | $ 290.9 M | |
| Operating Income | $ 268.6 M | |
| Interest Income | $ 26.6 M | |
| Interest Expense | $ 69.3 M | |
| Net Interest Income | $ -42.69 M | |
| Income Before Tax | $ 221.7 M | |
| Tax Provision | $ 15.7 M | |
| Tax Rate | 7.066 % | |
| Net Income | $ 206.0 M | |
| Net Income From Continuing Operations | $ 206.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.47 | |
| EPS Actual | $ 1.99 | |
| EPS Difference | $ 0.52 | |
| EPS Surprise | 35.374 % | |
| Forward EPS | $ 3.39 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 5.1 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 1.1 B | |
| Total Current Assets | $ 4.2 B | |
| Cash and Short-Term Investments | $ 3.0 B | |
| Cash | $ 1.7 B | |
| Net Receivables | $ 884.0 M | |
| Inventory | $ 84.0 M | |
| Long-Term Investments | $ 85.7 M | |
| LIABILITIES | ||
| Accounts Payable | $ 126.6 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 1.3 B | |
| Net Debt | — | |
| Total Debt | $ 1.3 B | |
| Total Liabilities | $ 4.1 B | |
| EQUITY | ||
| Total Equity | $ 1.1 B | |
| Retained Earnings | $ -6.50 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 8.06 | |
| Shares Outstanding | 133.444 M | |
| Revenue Per-Share | $ 8.75 | |
| VALUATION | Market Capitalization | $ 44.2 B |
| Enterprise Value | $ 42.4 B | |
| Enterprise Multiple | 139.35 | |
| Enterprise Multiple QoQ | -14.1 % | |
| Enterprise Multiple YoY | -94.866 % | |
| Enterprise Multiple IPRWA | ALNY: 139.35 high: 75.51 median: 25.832 mean: 7.178 low: -128.217 |
|
| EV/R | 36.354 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 4.77 | |
| Asset To Liability | 1.265 | |
| Debt To Capital | 0.542 | |
| Debt To Assets | 0.248 | |
| Debt To Assets QoQ | -3.586 % | |
| Debt To Assets YoY | -19.657 % | |
| Debt To Assets IPRWA | high: 1.112 ALNY: 0.248 mean: 0.165 median: 0.028 low: 0.0 |
|
| Debt To Equity | 1.184 | |
| Debt To Equity QoQ | -26.92 % | |
| Debt To Equity YoY | -89.501 % | |
| Debt To Equity IPRWA | high: 1.864 ALNY: 1.184 mean: 0.165 median: 0.051 low: -1.094 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 41.071 | |
| Price To Book QoQ | -36.375 % | |
| Price To Book YoY | -85.377 % | |
| Price To Book IPRWA | ALNY: 41.071 high: 20.93 mean: 7.548 median: 5.613 low: -11.267 |
|
| Price To Earnings (P/E) | 166.321 | |
| Price To Earnings QoQ | -45.976 % | |
| Price To Earnings YoY | -129.213 % | |
| Price To Earnings IPRWA | ALNY: 166.321 high: 74.242 mean: -2.307 median: -14.354 low: -125.804 |
|
| PE/G Ratio | 2.809 | |
| Price To Sales (P/S) | 37.841 | |
| Price To Sales QoQ | -18.511 % | |
| Price To Sales YoY | -30.65 % | |
| Price To Sales IPRWA | high: 864.732 mean: 65.886 ALNY: 37.841 median: 29.192 low: 0.192 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 98.691 | |
| Forward PE/G | 1.667 | |
| Forward P/S | 67.029 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 0.025 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.231 | |
| Asset Turnover Ratio QoQ | 3.468 % | |
| Asset Turnover Ratio YoY | 64.487 % | |
| Asset Turnover Ratio IPRWA | high: 0.403 ALNY: 0.231 mean: 0.097 median: 0.094 low: 0.0 |
|
| Receivables Turnover | 1.405 | |
| Receivables Turnover Ratio QoQ | 11.569 % | |
| Receivables Turnover Ratio YoY | -2.661 % | |
| Receivables Turnover Ratio IPRWA | high: 6.246 ALNY: 1.405 mean: 1.259 median: 1.161 low: 0.013 |
|
| Inventory Turnover | 2.532 | |
| Inventory Turnover Ratio QoQ | -25.229 % | |
| Inventory Turnover Ratio YoY | 156.809 % | |
| Inventory Turnover Ratio IPRWA | ALNY: 2.532 high: 2.101 mean: 0.384 median: 0.352 low: 0.003 |
|
| Days Sales Outstanding (DSO) | 64.949 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 52.065 | |
| Cash Conversion Cycle Days QoQ | -5.882 % | |
| Cash Conversion Cycle Days YoY | 16.461 % | |
| Cash Conversion Cycle Days IPRWA | high: 1575.417 mean: 237.413 median: 208.031 ALNY: 52.065 low: -1586.264 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.407 | |
| CapEx To Revenue | -0.019 | |
| CapEx To Depreciation | -1.611 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.1 B | |
| Net Invested Capital | $ 2.1 B | |
| Invested Capital | $ 2.1 B | |
| Net Tangible Assets | $ 1.1 B | |
| Net Working Capital | $ 2.9 B | |
| LIQUIDITY | ||
| Cash Ratio | 2.23 | |
| Current Ratio | 3.127 | |
| Current Ratio QoQ | 13.185 % | |
| Current Ratio YoY | 2.901 % | |
| Current Ratio IPRWA | high: 32.587 mean: 3.967 ALNY: 3.127 median: 2.404 low: 0.016 |
|
| Quick Ratio | 3.064 | |
| Quick Ratio QoQ | 13.243 % | |
| Quick Ratio YoY | 2.917 % | |
| Quick Ratio IPRWA | high: 9.985 ALNY: 3.064 mean: 2.751 median: 2.568 low: 0.054 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 4.181 | |
| Cost Of Debt | 5.047 % | |
| Interest Coverage Ratio | 4.199 | |
| Interest Coverage Ratio QoQ | 86.97 % | |
| Interest Coverage Ratio YoY | -5601.245 % | |
| Interest Coverage Ratio IPRWA | high: 604.866 ALNY: 4.199 median: -17.114 mean: -80.079 low: -1789.522 |
|
| Operating Cash Flow Ratio | 0.091 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 41.301 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 3.286 % | |
| Revenue Growth | 6.394 % | |
| Revenue Growth QoQ | -152.543 % | |
| Revenue Growth YoY | 3617.442 % | |
| Revenue Growth IPRWA | high: 269.985 % ALNY: 6.394 % median: -7.18 % mean: -10.885 % low: -242.388 % |
|
| Earnings Growth | 59.2 % | |
| Earnings Growth QoQ | -204.048 % | |
| Earnings Growth YoY | -283.236 % | |
| Earnings Growth IPRWA | high: 215.789 % ALNY: 59.2 % median: -8.571 % mean: -16.728 % low: -250.0 % |
|
| MARGINS | ||
| Gross Margin | 81.912 % | |
| Gross Margin QoQ | 8.355 % | |
| Gross Margin YoY | -6.965 % | |
| Gross Margin IPRWA | high: 100.0 % ALNY: 81.912 % median: 81.433 % mean: 77.185 % low: -98.223 % |
|
| EBIT Margin | 24.927 % | |
| EBIT Margin QoQ | -5.858 % | |
| EBIT Margin YoY | -5125.605 % | |
| EBIT Margin IPRWA | high: 2524.194 % ALNY: 24.927 % median: 23.412 % mean: -121.114 % low: -7259.515 % |
|
| Return On Sales (ROS) | 23.016 % | |
| Return On Sales QoQ | 91.688 % | |
| Return On Sales YoY | -4740.323 % | |
| Return On Sales IPRWA | high: 100.302 % ALNY: 23.016 % median: 20.658 % mean: -121.021 % low: -7394.476 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 48.7 M | |
| Free Cash Flow Yield | 0.11 % | |
| Free Cash Flow Yield QoQ | -60.0 % | |
| Free Cash Flow Yield YoY | -127.99 % | |
| Free Cash Flow Yield IPRWA | high: 11.709 % ALNY: 0.11 % median: 0.015 % mean: -0.541 % low: -45.34 % |
|
| Free Cash Growth | -65.3 % | |
| Free Cash Growth QoQ | 18.334 % | |
| Free Cash Growth YoY | -387.97 % | |
| Free Cash Growth IPRWA | high: 253.163 % mean: 6.675 % median: -14.781 % ALNY: -65.3 % low: -239.224 % |
|
| Free Cash To Net Income | 0.236 | |
| Cash Flow Margin | 10.517 % | |
| Cash Flow To Earnings | 0.596 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 4.081 % | |
| Return On Assets QoQ | 7.48 % | |
| Return On Assets YoY | -400.074 % | |
| Return On Assets IPRWA | high: 38.074 % ALNY: 4.081 % median: -9.211 % mean: -14.193 % low: -67.817 % |
|
| Return On Capital Employed (ROCE) | 7.697 % | |
| Return On Equity (ROE) | 0.192 | |
| Return On Equity QoQ | -18.91 % | |
| Return On Equity YoY | -138.469 % | |
| Return On Equity IPRWA | high: 0.797 ALNY: 0.192 median: -0.147 mean: -0.357 low: -1.265 |
|
| DuPont ROE | 22.096 % | |
| Return On Invested Capital (ROIC) | 12.969 % | |
| Return On Invested Capital QoQ | 1.558 % | |
| Return On Invested Capital YoY | -8467.097 % | |
| Return On Invested Capital IPRWA | high: 41.877 % ALNY: 12.969 % median: 2.185 % mean: -0.351 % low: -51.333 % |
|