Alnylam Pharmaceuticals, Inc. (ALNY) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Sep 25, 2026
Alnylam Pharmaceuticals, Inc. (ALNY)
A forensic read on Alnylam Pharmaceuticals, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
8.0
Distress distance
Clean
Earnings quality
3
Forensic signals
39.7
P / E (ttm)
39.8%
ROE
$33.0B
Market cap
65.2%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Alnylam Pharmaceuticals, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 8.0, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+3.8%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +8% over the last 2 years to FY2025 (+3.8%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~3.8% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~7%.
9% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 9% of revenue and 75% of free cash flow in FY2025 — about $2.59 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 3.9% a year and that rate is not falling, so total profit has to grow by that much annually before any of it reaches a share. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
76d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 66 to 76 days FY2024→FY2025 (receivables +92% vs revenue +65%). Receivables are creeping up relative to sales. Across FY2023–FY2025 the day count ran 65 → 66 → 76 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in. Deferred revenue was roughly flat (-91%) over the same period, which doesn't corroborate a benign upfront-billing explanation for the receivables build. Both figures are measured on period-end balances rather than the beginning-plus-ending average, because averaging needs the balance a year before every reading — FY2024's opening balance is on file, but across the 3 fiscal years read here (FY2023–FY2025) the average yields only 2 day counts (1 step), too few to tell a climb from one year's move.
Key fundamentals
Latest Revenue$3.71B
Revenue Growth YoY+65.2%
Revenue CAGR (2yr)+42.5%
Net Margin8.4%
Free Cash Flow$465.4M
Return on Equity39.8%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Alnylam Pharmaceuticals, Inc.'s actual 10-K/10-Q/8-K filings?