Wheaton Precious Metals Corp. (WPM) Financial Ratios
28 years of historical data (1998–2025) · Basic Materials · Gold
EV/EBITDA
↑
28.86
+13% vs avg
5yr avg: 25.50
30Y Low14.3·High66.3
P/FCF
↑
99.14
↓-10% vs avg
5yr avg: 110.31
30Y Low18.2·High163.2
P/B Ratio
↑
6.56
↑+76% vs avg
5yr avg: 3.72
30Y Low1.2·High6.2
ROE
↑
18.8%
↓+65% vs avg
5yr avg: 11.4%
30Y Low-23%·High22%
Debt/EBITDA
↑
0.00
↓-15% vs avg
5yr avg: 0.00
30Y Low0.0·High3.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
WPM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Wheaton Precious Metals Corp. trades at 38.1x earnings, 7% above its 5-year average of 35.7x, sitting at the 50th percentile of its historical range. Compared to the Basic Materials sector median P/E of 22.3x, the stock trades at a premium of 71%. On a free-cash-flow basis, the stock trades at 99.1x P/FCF, 10% below the 5-year average of 110.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $56.9B | $53.4B | $25.5B | $22.4B | $17.7B | $19.4B | $18.8B | $13.3B | $8.7B | $9.8B | $8.3B |
| Enterprise Value | $55.7B | $52.3B | $24.7B | $21.8B | $17.0B | $19.1B | $18.8B | $14.1B | $9.9B | $10.5B | $9.4B |
| P/E Ratio → | 38.07 | 35.72 | 48.07 | 41.46 | 27.52 | 25.86 | 35.08 | 148.75 | 20.34 | 170.23 | 42.93 |
| P/S Ratio | 24.15 | 22.69 | 19.88 | 22.02 | 16.60 | 16.12 | 17.14 | 15.44 | 10.92 | 11.61 | 9.34 |
| P/B Ratio | 6.56 | 6.16 | 3.52 | 3.20 | 2.63 | 3.10 | 3.29 | 2.50 | 1.68 | 2.00 | 1.69 |
| P/FCF | 99.14 | 93.16 | 69.17 | 298.57 | 29.96 | 60.68 | 24.60 | 26.68 | — | 18.23 | — |
| P/OCF | 29.34 | 27.57 | 24.85 | 29.80 | 23.78 | 22.92 | 24.54 | 26.51 | 18.16 | 18.17 | 14.25 |
P/E links to full P/E history page with 30-year chart
WPM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Wheaton Precious Metals Corp.'s enterprise value stands at 28.9x EBITDA, 13% above its 5-year average of 25.5x. The Basic Materials sector median is 11.0x, placing the stock at a 163% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 22.20 | 19.25 | 21.49 | 15.95 | 15.93 | 17.14 | 16.34 | 12.41 | 12.41 | 10.54 |
| EV / EBITDA | 28.86 | 27.08 | 28.45 | 30.27 | 22.78 | 18.93 | 24.54 | 36.62 | 19.81 | 31.04 | 15.56 |
| EV / EBIT | 34.39 | 32.27 | 38.36 | 40.49 | 25.36 | 25.36 | 36.30 | 115.32 | 20.59 | 127.89 | 43.09 |
| EV / FCF | — | 91.17 | 66.96 | 291.36 | 28.79 | 59.98 | 24.61 | 28.23 | — | 19.48 | — |
WPM Profitability
Margins and return-on-capital ratios measuring operating efficiency
Wheaton Precious Metals Corp. earns an operating margin of 68.8%, significantly above the Basic Materials sector average of 9.2%. Operating margins have expanded from 49.7% to 68.8% over the past 3 years, signaling improving operational efficiency. ROE of 18.8% indicates solid capital efficiency. ROIC of 17.4% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.2% | 72.2% | 62.5% | 56.4% | 53.1% | 54.8% | 53.4% | 70.0% | 37.3% | 40.0% | 36.8% |
| Operating Margin | 68.8% | 68.8% | 48.3% | 49.7% | 48.1% | 62.8% | 47.4% | 14.6% | 30.8% | 8.7% | 33.0% |
| Net Profit Margin | 63.6% | 63.6% | 41.2% | 52.9% | 62.8% | 62.8% | 46.3% | 10.0% | 53.8% | 6.8% | 21.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.8% | 18.8% | 7.4% | 7.8% | 10.3% | 12.6% | 9.2% | 1.6% | 8.5% | 1.2% | 4.3% |
| ROA | 18.1% | 18.1% | 7.3% | 7.8% | 10.3% | 12.3% | 8.3% | 1.4% | 7.0% | 1.0% | 3.3% |
| ROIC | 17.4% | 17.4% | 7.2% | 6.1% | 6.4% | 9.6% | 6.6% | 1.5% | 3.1% | 1.0% | 3.8% |
| ROCE | 19.8% | 19.8% | 8.6% | 7.4% | 7.9% | 12.4% | 8.6% | 2.0% | 4.0% | 1.2% | 5.0% |
WPM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Wheaton Precious Metals Corp. carries a Debt/EBITDA ratio of 0.0x, which is very conservative (100% below the sector average of 2.5x). The company holds a net cash position — cash of $1.2B exceeds total debt of $8M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 276.5x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.16 | 0.24 | 0.16 | 0.24 |
| Debt / EBITDA | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 | 0.26 | 2.29 | 2.54 | 2.28 | 1.98 |
| Net Debt / Equity | — | -0.13 | -0.11 | -0.08 | -0.10 | -0.04 | 0.00 | 0.15 | 0.23 | 0.14 | 0.22 |
| Net Debt / EBITDA | -0.59 | -0.59 | -0.94 | -0.75 | -0.93 | -0.22 | 0.01 | 2.02 | 2.39 | 1.99 | 1.77 |
| Debt / FCF | — | -1.99 | -2.20 | -7.21 | -1.18 | -0.70 | 0.01 | 1.55 | — | 1.25 | — |
| Interest Coverage | 276.45 | 276.45 | 116.17 | 97.87 | 124.84 | 130.94 | 30.97 | 2.45 | 12.25 | 2.60 | 7.66 |
Net cash position: cash ($1.2B) exceeds total debt ($8M)
WPM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Wheaton Precious Metals Corp.'s current ratio of 7.78x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 21.76x to 7.78x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.78 | 7.78 | 28.07 | 21.76 | 23.44 | 8.41 | 6.48 | 2.39 | 2.76 | 8.52 | 6.72 |
| Quick Ratio | 7.78 | 7.78 | 28.07 | 21.71 | 23.10 | 8.12 | 6.48 | 2.39 | 2.76 | 8.52 | 6.72 |
| Cash Ratio | 7.46 | 7.46 | 27.73 | 20.96 | 22.66 | 7.61 | 6.18 | 1.61 | 2.63 | 8.11 | 6.52 |
| Asset Turnover | — | 0.26 | 0.17 | 0.14 | 0.16 | 0.19 | 0.18 | 0.14 | 0.12 | 0.15 | 0.14 |
| Inventory Turnover | — | — | — | 322.60 | 47.44 | 62.30 | — | — | — | — | — |
| Days Sales Outstanding | — | 7.23 | 1.77 | 3.35 | 3.14 | 3.40 | 1.81 | 1.84 | 0.61 | 0.61 | 0.21 |
WPM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Wheaton Precious Metals Corp. returns 0.5% to shareholders annually primarily through dividends. The payout ratio of 20.1% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.5% | 0.6% | 1.1% | 1.2% | 1.3% | 1.1% | 0.9% | 1.0% | 1.5% | 1.2% | 0.9% |
| Payout Ratio | 20.1% | 20.1% | 52.7% | 49.3% | 35.4% | 28.9% | 32.9% | 150.9% | 31.1% | 211.3% | 40.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | 2.8% | 2.1% | 2.4% | 3.6% | 3.9% | 2.9% | 0.7% | 4.9% | 0.6% | 2.3% |
| FCF Yield | 1.0% | 1.1% | 1.4% | 0.3% | 3.3% | 1.6% | 4.1% | 3.7% | — | 5.5% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% |
| Total Shareholder Yield | 0.5% | 0.6% | 1.1% | 1.2% | 1.3% | 1.1% | 0.9% | 1.0% | 1.5% | 1.2% | 1.3% |
| Shares Outstanding | — | $455M | $454M | $453M | $452M | $451M | $450M | $447M | $444M | $442M | $431M |
Peer Comparison
Compare WPM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 WPMYou | $57B | 38.1 | 28.9 | 99.1 | 72.2% | 68.8% | 18.8% | 17.4% | 0.0 |
 RGLD | $19B | 33.8 | 24.2 | 27.1 | — | 61.9% | 9.0% | 8.9% | 1.1 |
 FNV | $43B | 38.4 | 26.4 | — | 73.9% | 71.0% | 16.6% | 16.8% | 0.0 |
 OR | $7B | 32.3 | 27.0 | 31.6 | 83.4% | 72.9% | 18.3% | 14.1% | 0.0 |
 NEM | $121B | 17.0 | 8.7 | 16.5 | 49.8% | 46.9% | 22.1% | 24.9% | 0.0 |
 AEM | $89B | 20.1 | 10.9 | 20.9 | 58.1% | 53.1% | 19.6% | 21.9% | 0.0 |
 KGC | $35B | 14.5 | 7.8 | 13.4 | 47.5% | 43.2% | 31.0% | 29.9% | 0.2 |
 HL | $11B | 34.8 | 16.3 | 36.9 | 41.1% | 37.5% | 13.9% | 15.3% | 0.4 |
 PAAS | $21B | 19.4 | 12.2 | 19.7 | 37.7% | 32.3% | 17.0% | 15.7% | 0.5 |
 AG | $9B | -56.2 | 75.2 | 254.0 | 34.3% | -0.7% | -7.5% | -0.2% | 1.9 |
 FCX | $83B | 38.0 | 10.7 | 74.3 | 27.0% | 24.4% | 7.4% | 12.8% | 1.3 |
| Basic Materials Median | — | 22.3 | 11.0 | 25.6 | 31.3% | 9.2% | 0.0% | 4.5% | 2.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full WPM Stock Analysis
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Start ComparisonWPM — Frequently Asked Questions
Quick answers to the most common questions about buying WPM stock.
What is Wheaton Precious Metals Corp.'s P/E ratio?
Wheaton Precious Metals Corp.'s current P/E ratio is 38.1x. The historical average is 49.2x. This places it at the 50th percentile of its historical range.
What is Wheaton Precious Metals Corp.'s EV/EBITDA?
Wheaton Precious Metals Corp.'s current EV/EBITDA is 28.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 25.6x.
What is Wheaton Precious Metals Corp.'s ROE?
Wheaton Precious Metals Corp.'s return on equity (ROE) is 18.8%. The historical average is 8.1%.
Is WPM stock overvalued?
Based on historical data, Wheaton Precious Metals Corp. is trading at a P/E of 38.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Wheaton Precious Metals Corp.'s dividend yield?
Wheaton Precious Metals Corp.'s current dividend yield is 0.53% with a payout ratio of 20.1%.
What are Wheaton Precious Metals Corp.'s profit margins?
Wheaton Precious Metals Corp. has 72.2% gross margin and 68.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Wheaton Precious Metals Corp. have?
Wheaton Precious Metals Corp.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.