WPM

Wheaton Precious Metals
D

WPM

Arincen77/100B

Wheaton Precious Metals financials

Yes. Wheaton Precious Metals earned 2.09B USD of net income over the last twelve months, 60.4% of its revenue. It made a profit in 22 of its 27 fiscal years since 1998. Its last loss was in fiscal year 2015.

Revenue (TTM)
3.47B USD
Net income (TTM)
2.09B USD
Free cash flow (TTM)
-2.50B USD
Cash and short-term investments
145.80M USD
Total debt
1.60B USD
Shareholders' equity
10.03B USD

Cash, debt and equity as of 30 Sept 2026.

Wheaton Precious Metals earnings

Next earnings · Q4 FY2026
EPS estimate
1.14 USD
Revenue estimate
950.87M USD
Last quarter · Q3 FY2026
EPS0.90Missed -1.1%Revenue771.73MMissed -2.0%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q1 FY20271.22——-5.07%987.03M——+9.49%
Q4 FY20261.14——-6.56%950.87M——+9.96%
Q3 FY20260.910.90-1.10%+45.16%787.10M771.73M-1.95%+62.04%
Q2 FY20261.151.19+3.48%+88.89%879.29M929.20M+5.68%+84.65%
Q1 FY20261.241.28+3.23%+132.73%868.35M901.47M+3.81%+91.63%
Q4 FY20251.081.22+12.96%+177.27%778.85M864.71M+11.02%+127.25%
Q3 FY20250.590.62+5.80%+82.35%720.90M476.26M-33.94%+54.50%
Q2 FY20250.580.63+8.25%+90.91%474.86M503.22M+5.97%+68.26%

Wheaton Precious Metals growth and profitability

Full income statement
Revenue (TTM)
3.47B USD
Net income (TTM)
2.09B USD
Gross margin
74.66%
Operating margin
72.23%
Net margin
60.39%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY20252.31B+80.18%1.50B+183.00%73.43%68.33%64.70%2.04B+128.93%
FY20241.28B+26.44%529.14M-1.58%62.48%48.33%41.19%892.93M+18.24%
FY20231.02B-4.60%537.64M-19.65%56.44%49.73%52.92%755.19M-16.39%
FY20221.07B-11.37%669.13M-11.36%53.09%48.06%62.83%903.27M-10.71%
FY20211.20B+9.62%754.89M+48.66%54.83%62.80%62.82%1.01B+32.51%

How Wheaton Precious Metals makes its money

Revenue2.31B 100.0%
Cost of revenue655.51M 28.3%
Gross profit1.70B 73.4%
Selling and administration79.36M 3.4%
Other operating expenses38.61M 1.7%
Operating income1.58B 68.3%
Tax230.31M 10.0%
Net income1.50B 64.7%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Wheaton Precious Metals revenue breakdown

By region

FY2025
Brazil: 44.9%PERU: 19.5%Mexico: 18.9%Canada: 7.3%Sweden: 3.9%Portugal: 3.4%United States: 1.4%Colombia: 0.5%Chile: 0.2%44.9%Brazil19.5%PERU18.9%Mexico7.3%Canada3.9%Sweden3.4%Portugal1.4%United States
RegionRevenueShare of revenueChange on the year
Brazil1.04B44.9%+92.7%
PERU451.16M19.5%+58.8%
Mexico438.23M18.9%+54.7%
Canada167.97M7.3%+217.8%
Sweden89.20M3.9%+66.3%
Portugal78.53M3.4%+246.0%
United States33.35M1.4%-13.6%
Colombia12.07M0.5%+80.4%
Chile4.22M0.2%+116.9%

Operating and free cash flow

Full cash flow statement
Operating cash flow Free cash flow
Fiscal yearOperating cash flowFree cash flow
FY20251.90B540.13M
FY20241.03B369.25M
FY2023750.81M74.94M
FY2022743.42M590.00M
FY2021845.15M319.18M
FY2020765.44M763.62M
FY2019501.62M498.41M
FY2018477.41M-648.25M
FY2017538.81M537.09M
FY2016584.30M-220.22M

Wheaton Precious Metals financial health

Full balance sheet
Cash and short-term investments
145.80M USD
Total debt
1.60B USD
Net cash
-1.46B USD
Free cash flow (TTM)
-2.50B USD
Current ratio
0.57
Debt to equity
0.16
Piotroski score
6 / 9
Altman Z-score
18.66

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY20251.15B7.89M540.13M
FY2024818.17M5.17M369.25M
FY2023546.53M6.23M74.94M
FY2022696.09M1.97M590.00M
FY2021226.05M2.87M319.18M

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity
Fiscal yearTotal assetsTotal liabilitiesShareholders' equity
FY20259.15B478.80M8.67B
FY20247.42B165.08M7.26B
FY20237.03B45.67M6.99B
FY20226.76B42.23M6.72B
FY20216.30B46.03M6.25B
FY20205.96B242.70M5.71B
FY20196.28B952.09M5.33B
FY20186.47B1.30B5.17B
FY20175.68B783.65M4.90B
FY20166.15B1.21B4.94B

Wheaton Precious Metals valuation

Price to earnings ratio (TTM)
28.60
Forward P/E (FY2026)
29.19
Price to sales (TTM)
17.26
Price to book
5.97
EV / EBITDA (TTM)
20.81

Capital structure

Market capitalization
59.87B USD
+
Total debt
1.60B USD
−
Cash and short-term investments
145.80M USD
=
Enterprise value
61.33B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)23.90————
FY2027 (est.)26.7423.90———
FY2026 (est.)29.1926.74———
Now (TTM)28.6027.0417.265.9720.81
FY202535.6126.0222.656.1525.54
FY202448.0733.9719.853.5127.65
FY202341.4633.9721.993.2028.87
FY202227.5233.9716.572.6318.77
FY202125.8631.5016.083.0918.88

Wheaton Precious Metals against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: AngloGold Ashanti, Newmont, Royal Gold, and Coeur Mining, the US Gold companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Below its median28.6
    17.475.3
  • Gross marginHighest in 5 years73.4%
    53.1%73.4%
    Against its peers: 1 of 5Peers' median 49.9%
  • Operating marginHighest in 5 years68.3%
    48.1%68.3%
    Against its peers: 1 of 5Peers' median 46.9%
  • Net marginHighest in 5 years64.7%
    41.2%64.7%
    Against its peers: 1 of 5Peers' median 29.8%
  • Return on equityHighest in 5 years17.3%
    7.3%17.3%
    Against its peers: 4 of 5Peers' median 19.3%
  • Free cash flow marginBelow its median23.3%
    7.4%55.4%
    Against its peers: 4 of 5Peers' median 31.8%
  • Revenue growthHighest in 5 years80.2%
    -11.4%80.2%
    Against its peers: 2 of 5Peers' median 57.7%
  • EPS growthHighest in 5 years181.2%
    -16.2%181.2%
    Against its peers: 2 of 5Peers' median 123.4%
  • Debt to EBITDAAt its median0.00×
    0.00×0.01×
    Against its peers: 1 of 5Peers' median 0.42×
  • Current ratioLowest in 5 years7.78
    7.7828.07
    Against its peers: 1 of 5Peers' median 2.58

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Wheaton Precious Metals dividends

Annual dividend
0.78 USD
Dividend yield (indicated)
0.59%
Payout ratio
20.50%
Years of dividend growth
3
Frequency
Quarterly
Next payment
0.20 USD
Next ex-dividend date
19 Nov 2026
Next payment date
3 Dec 2026

Dividends per share

Year2025202420232022202120202019201820172016
Dividends per share0.660.620.600.600.570.420.360.360.330.21

Wheaton Precious Metals ownership

Institutions
64.15%
Institutional holders
905 (+1)
Free float
99.80%

Who owns the shares

Institutions 64.1% Others 35.9%
As of 30 Jun 2026

Shares free to trade

Free float 453.24M shares ·99.8% Closely held 915.72K shares ·0.2%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY2025453.89M454.69M+0.12%
FY2024453.46M454.12M+0.14%
FY2023452.81M453.46M+0.25%
FY2022451.57M452.34M+0.26%
FY2021450.14M451.17M+0.24%

Common questions about Wheaton Precious Metals's financials

Source: Financial Modeling Prep