ALNY vs RPRX: Alnylam Pharmaceuticals and Royalty Pharma Plc compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Royalty Pharma Plc is the larger company, worth $32.3B, close to Alnylam Pharmaceuticals's $30.6B.
- Alnylam Pharmaceuticals grew revenue faster over the last year (+66.9% vs +16.5%).
- On earnings, Royalty Pharma Plc is the cheaper stock (29.5x vs 57.4x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ALNY | RPRX |
|---|---|---|
| Market cap | $30.6B | $32.3B |
| Share price | $232.68 | $56.93 |
| Revenue (last fiscal year) | $3.7B | $2.4B |
| Free cash flow (last fiscal year) | $465M | — |
| Revenue growth, last year | +66.9% | +16.5% |
| Revenue growth per year, last 5 fiscal years | +44.8% | +1.0% |
| Operating margin | — | 59.6% |
| Net margin | — | 32.1% |
| Return on equity | 54.1% | 8.3% |
| P/E (trailing) | 57.4x | 29.5x |
| Price / free cash flow | 65.7x | 13.0x |
| EV / EBITDA | 43.5x | 19.1x |
| FCF growth the price implies | 20.7% | — |
| Dividend yield | — | 1.6% |
| Debt / equity | 3.11x | 1.03x |
| Fundamental grade | B | C |
| Superinvestors holding it | 5 | 3 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Alnylam Pharmaceuticals
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $844M | -$718M | -83.9% |
| 2022 | $1.0B | -$613M | -75.7% |
| 2023 | $1.8B | $42M | -15.4% |
| 2024 | $2.2B | -$43M | -7.9% |
| 2025 | $3.7B | $465M | 13.5% |
Royalty Pharma Plc
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.3B | — | 62.5% |
| 2022 | $2.2B | — | 13.7% |
| 2023 | $2.4B | — | 63.4% |
| 2024 | $2.3B | — | 57.1% |
| 2025 | $2.4B | — | 65.6% |
Where the revenue comes from
Alnylam Pharmaceuticals · by products, 2025
Net product revenues$3.0B80%
Net revenues from collaborations$553M15%
Royalty revenue$174M5%
Royalty Pharma Plc · by products, 2025
Income from financial royalty assets$2.3B95%
Other royalty income and revenues$117M5%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ALNY in InvestinglyQuestions
Which is bigger, Alnylam Pharmaceuticals or Royalty Pharma Plc?
Royalty Pharma Plc (RPRX), at $32.3B against $30.6B.
Is ALNY or RPRX cheaper?
By trailing P/E, Royalty Pharma Plc (29.5x) is cheaper than Alnylam Pharmaceuticals (57.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, ALNY or RPRX?
Alnylam Pharmaceuticals: revenue grew +66.9% over the last year, against +16.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.