What is Alnylam Pharmaceuticals, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Alnylam Pharmaceuticals, Inc.'s reported free cash flow gives $127.19 per share. The share price was $151.64 on November 10, 2026, 19% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $82.39 | -46% |
| Base | 15.0% | 9.0% | $127.19 | -16% |
| Bull | 20.0% | 8.0% | $210.60 | +39% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $161.11 | $171.68 | $184.61 | $200.76 | $221.54 |
| 8.0% | $135.63 | $142.48 | $150.59 | $160.32 | $172.20 |
| 9.0% | $117.09 | $121.78 | $127.19 | $133.50 | $140.96 |
| 10.0% | $103.03 | $106.37 | $110.15 | $114.47 | $119.45 |
| 11.0% | $92.03 | $94.48 | $97.21 | $100.28 | $103.77 |
Where the presets come from
Base: years 1 to 5 grow at Alnylam Pharmaceuticals, Inc.'s revenue growth rate over the last 5 fiscal years (49.8% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions