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WPM logoWheaton Precious Metals Corp.(WPM)Earnings, Financials & Key Ratios

WPM•NYSE
$125.24
$56.87B mkt cap·38.1× P/E·Price updated May 6, 2026
SectorBasic MaterialsIndustryGoldSub-IndustryGold royalty and streaming companies
AboutWheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp. was founded in 2004 and is headquartered in Vancouver, Canada.Show more
  • Revenue$2.36B+83.3%
  • EBITDA$1.93B+122.1%
  • Net Income$1.5B+183.0%
  • EPS (Diluted)3.29+181.2%
  • Gross Margin72.17%+15.5%
  • EBITDA Margin81.98%+21.2%
  • Operating Margin68.8%+42.4%
  • Net Margin63.58%+54.4%
  • ROE18.8%+153.0%
  • ROIC17.39%+140.7%
  • Debt/Equity0.00+27.8%
  • Interest Coverage276.45+138.0%
Analysis→Technical→

WPM Key Insights

Wheaton Precious Metals Corp. (WPM) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong 5Y profit CAGR of 24.1%
  • ✓FCF machine: 24.4% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 16.5%
  • ✓Healthy 5Y average net margin of 56.7%

✗Weaknesses

  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

WPM Price & Volume

Wheaton Precious Metals Corp. (WPM) stock price & volume — 10-year historical chart

Loading chart...

WPM Growth Metrics

Wheaton Precious Metals Corp. (WPM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years13.76%
5 Years16.53%
3 Years30.28%
TTM81.21%

Profit CAGR

10 Years-
5 Years24.15%
3 Years30.8%
TTM179.76%

EPS CAGR

10 Years-
5 Years22.55%
3 Years32.32%
TTM181.03%

Return on Capital

10 Years7.68%
5 Years11.2%
3 Years11.92%
Last Year19.77%

WPM Recent Earnings

Wheaton Precious Metals Corp. (WPM) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Mar 12, 2026
EPS
$1.22
Est $1.08
+13.0%
Revenue
$865M
Est $779M
+11.0%
Q4 2025
Nov 6, 2025
EPS
$0.62
Est $0.59
+5.8%
Revenue
$476M
Est $721M
-33.9%
Q3 2025
Aug 7, 2025
EPS
$0.63
Est $0.58
+8.2%
Revenue
$503M
Est $475M
+6.0%
Q2 2025
May 8, 2025
EPS
$0.55
Est $0.52
+6.6%
Revenue
$470M
Est $428M
+9.9%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 12, 2026
$1.22vs $1.08+13.0%
$865Mvs $779M+11.0%
Q4 2025Nov 6, 2025
$0.62vs $0.59+5.8%
$476Mvs $721M-33.9%
Q3 2025Aug 7, 2025
$0.63vs $0.58+8.2%
$503Mvs $475M+6.0%
Q2 2025May 8, 2025
$0.55vs $0.52+6.6%
$470Mvs $428M+9.9%
Based on last 12 quarters of dataView full earnings history →

WPM Peer Comparison

Wheaton Precious Metals Corp. (WPM) competitors in Gold royalty and streaming companies — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
RGLD logoRGLDRoyal Gold, Inc.Direct Competitor19.09B225.9033.7744.57%45.33%6.47%3.69%0.12
FNV logoFNVFranco-Nevada CorporationDirect Competitor43.39B225.0738.4166.42%61.07%16.25%0.00
OR logoOROR Royalties Inc.Direct Competitor6.78B36.0932.26102.58%74.05%11.82%3.16%0.01
NEM logoNEMNewmont CorporationProduct Competitor120.78B109.0117.0119.08%30.54%15.58%6.04%0.01
AEM logoAEMAgnico Eagle Mines LimitedProduct Competitor89.25B178.1420.1143.71%37.48%19.25%4.78%0.01
KGC logoKGCKinross Gold CorporationProduct Competitor34.5B28.8114.4839.34%36.04%33.95%7.44%0.09
HL logoHLHecla Mining CompanyProduct Competitor11.43B17.0534.8053.03%35.55%22.55%2.71%0.12
PAAS logoPAASPan American Silver Corp.Product Competitor21.29B50.5219.3630.63%27.08%16.83%5.08%0.13

Compare WPM vs Peers

Wheaton Precious Metals Corp. (WPM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs RGLD

Most directly comparable listed peer for WPM.

Scale Benchmark

vs NEM

Larger-name benchmark to compare WPM against a more recognizable public peer.

Peer Set

Compare Top 5

vs RGLD, FNV, OR, NEM

WPM Income Statement

Wheaton Precious Metals Corp. (WPM) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue843.22M794.01M861.33M1.1B1.2B1.07B1.02B1.28B2.36B
Revenue Growth %-5.42%-5.84%8.48%27.27%9.62%-11.37%-4.6%26.44%83.33%
Cost of Goods Sold506.18M498.08M258.56M510.65M542.74M499.57M442.61M482.05M655.51M
COGS % of Revenue60.03%62.73%30.02%46.58%45.17%46.91%43.56%37.52%27.83%
Gross Profit
337.03M▲ 0%
295.93M▼ 12.2%
602.77M▲ 103.7%
585.57M▼ 2.9%
658.92M▲ 12.5%
565.48M▼ 14.2%
573.44M▲ 1.4%
802.59M▲ 40.0%
1.7B▲ 111.8%
Gross Margin %39.97%37.27%69.98%53.42%54.83%53.09%56.44%62.48%72.17%
Gross Profit Growth %2.62%-12.2%103.69%-2.85%12.53%-14.18%1.41%39.96%111.77%
Operating Expenses32.53M49.04M477.25M65.7M-95.73M53.58M68.17M181.75M79.36M
OpEx % of Revenue3.86%6.18%55.41%5.99%-7.97%5.03%6.71%14.15%3.37%
Selling, General & Admin31.56M47.98M54.51M58.02M52.12M53.19M58.37M61.57M79.36M
SG&A % of Revenue3.74%6.04%6.33%5.29%4.34%4.99%5.74%4.79%3.37%
Research & Development000000000
R&D % of Revenue---------
Other Operating Expenses972K1.06M422.74M7.68M-147.86M389K9.8M120.19M0
Operating Income
73.68M▲ 0%
244.28M▲ 231.5%
125.53M▼ 48.6%
519.87M▲ 314.1%
754.66M▲ 45.2%
511.9M▼ 32.2%
505.27M▼ 1.3%
620.83M▲ 22.9%
1.62B▲ 161.0%
Operating Margin %8.74%30.77%14.57%47.42%62.8%48.06%49.73%48.33%68.8%
Operating Income Growth %-74.94%231.54%-48.61%314.15%45.16%-32.17%-1.3%22.87%160.98%
EBITDA337.03M497.62M384.26M765.65M1.01B745.44M721.2M869.13M1.93B
EBITDA Margin %39.97%62.67%44.61%69.84%84.16%69.99%70.98%67.66%81.98%
EBITDA Growth %-44.17%47.65%-22.78%99.25%32.09%-26.29%-3.25%20.51%122.15%
D&A (Non-Cash Add-back)263.35M253.34M258.73M245.78M256.69M233.54M215.93M248.3M310.51M
EBIT81.81M478.82M122.01M517.7M754.97M669.73M539.26M644.63M1.62B
Net Interest Income-31.07M-38.37M-49.03M-16.49M-5.53M705.88K29.35M19.28M31.51M
Interest Income421.64K711.75K834.97K229K238.88K6.07M34.86M24.83M37.37M
Interest Expense31.49M39.09M49.86M16.71M5.77M5.36M5.51M5.55M5.86M
Other Income/Expense-16.86M198.7M-48.46M-14.54M-41K157.73M33.79M23.51M107.54M
Pretax Income
56.82M▲ 0%
442.98M▲ 679.7%
77.07M▼ 82.6%
505.33M▲ 555.7%
754.62M▲ 49.3%
669.63M▼ 11.3%
539.06M▼ 19.5%
644.34M▲ 19.5%
1.73B▲ 168.1%
Pretax Margin %6.74%55.79%8.95%46.1%62.8%62.87%53.05%50.16%73.36%
Income Tax-886K15.87M-9.07M-2.48M-269K509K1.41M115.2M230.31M
Effective Tax Rate %-1.56%3.58%-11.76%-0.49%-0.04%0.08%0.26%17.88%13.33%
Net Income
57.7M▲ 0%
427.12M▲ 640.2%
86.14M▼ 79.8%
507.8M▲ 489.5%
754.88M▲ 48.7%
669.13M▼ 11.4%
537.64M▼ 19.6%
529.14M▼ 1.6%
1.5B▲ 183.0%
Net Margin %6.84%53.79%10%46.32%62.82%62.83%52.92%41.19%63.58%
Net Income Growth %-70.43%640.2%-79.83%489.52%48.66%-11.36%-19.65%-1.58%183%
Net Income (Continuing)57.7M427.12M86.14M507.8M754.88M669.13M537.64M529.14M1.5B
Discontinued Operations000000000
Minority Interest000000000
EPS (Diluted)
0.13▲ 0%
0.96▲ 638.5%
0.20▼ 79.2%
1.19▲ 495.0%
1.66▲ 39.5%
1.42▼ 14.5%
1.19▼ 16.2%
1.17▼ 1.7%
3.29▲ 181.2%
EPS Growth %-71.11%638.46%-79.17%495%39.5%-14.46%-16.2%-1.68%181.2%
EPS (Basic)0.130.960.201.191.661.421.191.173.30
Diluted Shares Outstanding442.44M443.86M446.93M450.07M451.17M452.34M453.46M454.12M454.69M
Basic Shares Outstanding441.96M443.41M446.02M448.69M450.14M451.57M452.81M453.46M453.89M
Dividend Payout Ratio211.31%31.12%150.9%32.93%28.89%35.43%49.31%52.74%20.14%

WPM Balance Sheet

Wheaton Precious Metals Corp. (WPM) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets103.42M79.7M154.75M201.83M249.72M720.09M567.41M828.08M1.2B
Cash & Short-Term Investments98.52M75.77M103.99M192.68M226.04M696.09M546.53M818.17M1.15B
Cash Only98.52M75.77M103.99M192.68M226.04M696.09M546.53M818.17M1.15B
Short-Term Investments000000000
Accounts Receivable1.4M1.33M4.35M5.43M11.2M9.16M9.34M6.22M46.64M
Days Sales Outstanding0.610.611.841.813.43.143.351.777.23
Inventory00008.71M10.53M1.37M00
Days Inventory Outstanding----5.867.691.13--
Other Current Assets3.5M1.1M44.92M1.33M1.24M1.46M7.55M467K3.85M
Total Non-Current Assets5.58B6.39B6.12B5.76B6.05B6.04B6.46B6.6B7.95B
Property, Plant & Equipment5.42B6.16B5.74B5.49B5.91B5.71B6.13B6.39B7.43B
Fixed Asset Turnover0.16x0.13x0.15x0.20x0.20x0.19x0.17x0.20x0.32x
Goodwill000000000
Intangible Assets03.29M3.42M3.04M2.65M2.27M6.4M4.62M1.12M
Long-Term Investments107.83M176.42M312.79M202.93M68.08M262.7M260.13M139.4M456.76M
Other Non-Current Assets48.79M50.16M65.63M54.8M64.39M63.61M67.17M64.09M15.38M
Total Assets
5.68B▲ 0%
6.47B▲ 13.8%
6.28B▼ 3.0%
5.96B▼ 5.1%
6.3B▲ 5.7%
6.76B▲ 7.4%
7.03B▲ 4.0%
7.42B▲ 5.6%
9.15B▲ 23.3%
Asset Turnover0.15x0.12x0.14x0.18x0.19x0.16x0.14x0.17x0.26x
Asset Growth %-7.64%13.84%-2.97%-5.11%5.69%7.37%4.01%5.59%23.29%
Total Current Liabilities12.14M28.84M64.7M31.17M29.69M30.72M26.07M29.5M154.41M
Accounts Payable12.12M19.88M11.79M13.02M13.94M12.57M13.46M13.55M22.52M
Days Payables Outstanding8.7414.5716.659.319.379.1811.110.2612.54
Short-Term Debt00000000573.95K
Deferred Revenue (Current)000000000
Other Current Liabilities25K5.6M52.18M17.37M14.81M14.57M12.01M021.56M
Current Ratio8.52x2.76x2.39x6.48x8.41x23.44x21.76x28.07x7.78x
Quick Ratio8.52x2.76x2.39x6.48x8.12x23.10x21.71x28.07x7.78x
Cash Conversion Cycle-----0.111.65-6.61--
Total Non-Current Liabilities771.51M1.27B887.39M211.53M16.34M11.51M19.59M135.57M324.39M
Long-Term Debt770M1.26B874.5M195M00000
Capital Lease Obligations003.53M2.86M2.06M1.15M5.63M4.91M7.32M
Deferred Tax Liabilities0000000046.11M
Other Non-Current Liabilities1.51M5.29M9.36M13.67M14.28M10.36M13.97M130.66M270.97M
Total Liabilities783.65M1.3B952.09M242.7M46.03M42.23M45.67M165.08M478.8M
Total Debt770M1.26B878.75M198.64M2.87M1.97M6.23M5.17M7.89M
Net Debt671.48M1.19B774.77M5.95M-223.17M-694.12M-540.3M-813M-1.14B
Debt / Equity0.16x0.24x0.16x0.03x0.00x0.00x0.00x0.00x0.00x
Debt / EBITDA2.28x2.54x2.29x0.26x0.00x0.00x0.01x0.01x0.00x
Net Debt / EBITDA1.99x2.39x2.02x0.01x-0.22x-0.93x-0.75x-0.94x-0.59x
Interest Coverage2.60x12.25x2.45x30.97x130.94x124.84x97.87x116.17x276.45x
Total Equity
4.9B▲ 0%
5.17B▲ 5.6%
5.33B▲ 3.0%
5.71B▲ 7.3%
6.25B▲ 9.4%
6.72B▲ 7.5%
6.99B▲ 4.0%
7.26B▲ 3.9%
8.67B▲ 19.5%
Equity Growth %-0.82%5.56%2.98%7.3%9.37%7.48%3.99%3.92%19.5%
Book Value per Share11.0711.6511.9212.7013.8514.8515.4015.9919.08
Total Shareholders' Equity4.9B5.17B5.33B5.71B6.25B6.72B6.99B7.26B8.67B
Common Stock3.47B3.52B3.6B3.65B3.7B3.75B3.78B3.8B3.81B
Retained Earnings1.35B1.65B1.57B1.94B2.5B2.9B3.25B3.52B4.69B
Treasury Stock000000000
Accumulated OCI77.01M7.89M160.7M126.88M47.04M66.55M-40.09M-63.5M176.59M
Minority Interest000000000

WPM Cash Flow Statement

Wheaton Precious Metals Corp. (WPM) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations538.81M477.41M501.62M765.44M845.14M743.42M750.81M1.03B1.94B
Operating CF Margin %63.9%60.13%58.24%69.83%70.33%69.8%73.9%79.99%82.31%
Operating CF Growth %-7.79%-11.39%5.07%52.59%10.41%-12.04%0.99%36.86%88.64%
Net Income57.7M427.12M86.14M507.8M754.88M669.13M537.64M529.14M1.5B
Depreciation & Amortization263.35M253.34M258.73M245.78M256.69M233.54M215.93M248.3M310.51M
Stock-Based Compensation5.19M14.95M13.53M14.83M2.34M20.06M22.74M23.27M0
Deferred Taxes-886K15.87M-9.07M-2.48M-269K509K1.41M115.2M-18.33M
Other Non-Cash Items219.79M-242.83M164.13M-1.52M-160.42M-181.38M-28.83M107.24M179.71M
Working Capital Changes-6.35M8.96M-11.84M1.02M-8.07M1.57M1.91M4.43M-30.94M
Change in Receivables-729K828K-2.51M-1.18M-5.7M2.02M-264K4.39M-40.91M
Change in Inventory0000-4.44M1.58M000
Change in Payables-5.65M00000009.12M
Cash from Investing-19.57M-861.33M10.63M149.65M-404.22M-44.3M-646.65M-488.3M-1.3B
Capital Expenditures-1.72M-1.13B-1.68M-1.82M-525.96M-153.43M-671.36M-655.22M-1.36B
CapEx % of Revenue0.2%141.77%0.2%0.17%43.77%14.41%66.08%51%57.95%
Acquisitions-2.99M0-133K000000
Investments---------
Other Investing-14.73M222.47M-4.47M-801K-554K131.9M41.96M10.06M-693.94K
Cash from Financing-545.06M360.91M-484.19M-826.9M-407.61M-228.89M-254.24M-267.39M-294.67M
Debt Issued (Net)-423M494M-390.14M-680.2M-195.78M-800K-691K-594K-505K
Equity Issued (Net)000000012.56M7.4M
Dividends Paid-121.93M-132.91M-129.99M-167.21M-218.05M-237.1M-265.11M-279.05M-301.56M
Share Repurchases000000000
Other Financing-130K-178K35.93M20.52M6.23M9.01M11.56M-303.6K-8.84K
Net Change in Cash
-25.77M▲ 0%
-22.75M▲ 11.7%
28.22M▲ 224.0%
88.7M▲ 214.3%
33.36M▼ 62.4%
470.04M▲ 1308.9%
-149.56M▼ 131.8%
271.64M▲ 281.6%
333.81M▲ 22.9%
Free Cash Flow
537.09M▲ 0%
-648.25M▼ 220.7%
498.41M▲ 176.9%
763.62M▲ 53.2%
319.18M▼ 58.2%
590M▲ 84.8%
74.94M▼ 87.3%
369.25M▲ 392.7%
573.58M▲ 55.3%
FCF Margin %63.7%-81.64%57.87%69.66%26.56%55.4%7.38%28.74%24.35%
FCF Growth %343.89%-220.7%176.89%53.21%-58.2%84.85%-87.3%392.74%55.33%
FCF per Share1.21-1.461.121.700.711.300.170.811.26
FCF Conversion (FCF/Net Income)9.34x1.12x5.82x1.51x1.12x1.11x1.40x1.94x1.29x
Interest Paid000000000
Taxes Paid000000000

WPM Key Ratios

Wheaton Precious Metals Corp. (WPM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)4.29%1.17%8.48%1.64%9.2%12.62%10.32%7.85%7.43%18.8%
Return on Invested Capital (ROIC)3.83%0.95%3.07%1.51%6.6%9.64%6.37%6.08%7.22%17.39%
Gross Margin36.84%39.97%37.27%69.98%53.42%54.83%53.09%56.44%62.48%72.17%
Net Margin21.89%6.84%53.79%10%46.32%62.82%62.83%52.92%41.19%63.58%
Debt / Equity0.24x0.16x0.24x0.16x0.03x0.00x0.00x0.00x0.00x0.00x
Interest Coverage7.66x2.60x12.25x2.45x30.97x130.94x124.84x97.87x116.17x276.45x
FCF Conversion2.99x9.34x1.12x5.82x1.51x1.12x1.11x1.40x1.94x1.29x
Revenue Growth37.44%-5.42%-5.84%8.48%27.27%9.62%-11.37%-4.6%26.44%83.33%

WPM Frequently Asked Questions

Wheaton Precious Metals Corp. (WPM) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Wheaton Precious Metals Corp. (WPM) reported $2.33B in revenue for fiscal year 2025. This represents a 405988% increase from $0.6M in 1998.

Wheaton Precious Metals Corp. (WPM) grew revenue by 83.3% over the past year. This is strong growth.

Yes, Wheaton Precious Metals Corp. (WPM) is profitable, generating $1.48B in net income for fiscal year 2025 (63.6% net margin).

Dividend & Returns

Yes, Wheaton Precious Metals Corp. (WPM) pays a dividend with a yield of 0.53%. This makes it attractive for income-focused investors.

Wheaton Precious Metals Corp. (WPM) has a return on equity (ROE) of 18.8%. This is reasonable for most industries.

Wheaton Precious Metals Corp. (WPM) generated $565.3M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More WPM

Wheaton Precious Metals Corp. (WPM) financial analysis — history, returns, DCA and operating performance tools

Full WPM Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

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