Alnylam Pharmaceuticals, Inc. (ALNY) vs Insmed, Inc. (INSM)

Alnylam Pharmaceuticals, Inc. and Insmed, Inc. are both Biotechnology companies. Insmed, Inc. is the larger, with a market value of $23.9B against $21.0B — 1.1× the size. Insmed, Inc. has negative trailing earnings, so its P/E is not meaningful; Alnylam Pharmaceuticals, Inc. trades at 7.9×. Insmed, Inc. grew revenue faster over the last twelve months: 240.0% against 56.2%. Alnylam Pharmaceuticals, Inc. has the higher net margin (52.9% vs −39.9%) and the higher return on invested capital (59.4% vs −247.6%). Across the 18 metrics below, Alnylam Pharmaceuticals, Inc. leads on 15 and Insmed, Inc. on 3.

Valuation

Metric ALNY INSM Biotechnology median
P/E 7.92 n/m 10.26
P/S 4.19 15.60 9.18
P/B 5.83 32.64 2.05
Price to free cash flow 26.05 n/m 24.81
EV/EBITDA 17.84 n/m 0.65
EV/Sales 3.68 15.36 8.98
Earnings yield 12.62% (2.60%) (34.89%)
Free cash flow yield 3.84% (2.65%) (24.52%)

Profitability

Metric ALNY INSM Biotechnology median
Gross margin 77.28% 84.40% 65.16%
Operating margin 19.50% (37.11%) 0.00%
Net margin 52.85% (39.85%) 0.00%
Free cash flow margin 16.08% (41.30%) 0.00%
Return on equity 138.07% (72.45%) (50.12%)
Return on assets 41.25% (26.41%) (45.60%)
Return on invested capital 59.37% (247.55%) 0.00%

Growth

Metric ALNY INSM Biotechnology median
Revenue growth (TTM) 56.17% 239.97% 6.26%
EPS growth (last fiscal year) 206.88% (15.26%) 29.88%
Revenue growth, 5-year CAGR 49.77% 29.83% 9.75%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ALNY INSM Biotechnology median
Debt to equity 0.28 0.78 0.00
Current ratio 2.48 2.86 4.89
Net debt to EBITDA (3.41) 0.71 1.01

Dividend

Metric ALNY INSM Biotechnology median
Dividend yield — — 0.41%
Payout ratio — — —

Size

Metric ALNY INSM Biotechnology median
Market cap 20.98b 23.86b 172.11m

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