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Wheaton Precious Metals Corp.

WPM Basic Materials Gold

Wheaton Precious Metals Corp.’s revenue for fiscal 2025 (year ended December 2025) was $2.3 billion, up 80.2% from fiscal 2024.

Revenue
+84.7%
EPS
+87.5%
Free cash flow
−5,848.0%

Quarter to June 2026, against a year earlier

132.66 1.16 +0.88%
Market cap
$60.2B
P/E
29.3×
Fwd P/E
25.4×
Dividend yield
0.57%
F-score
7/9
Altman Z
75.21
Beneish M
0.60
Dividend safety
79/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.11%

Capital & Financial Ratios $m

Size
Market Cap 60,160.00
Revenue ttm 3,171.64
Net income ttm 2,050.75
Free cash flow ttm (2,915.37)
Net debt Q 1,869.09
Valuation
P/E 29.35
Forward P/E 25.40
Price / sales 19.00 (above 10: high)
Forward P/S Powerpack
Price / FCF 0.00
Price / book 6.22 (above 6: high)
Financial health
Current ratio Q 0.47 (below 1: weak)
Debt / equity Q 0.20 (at or below 0.5: strong)
Interest coverage Q 21.45
Growth
Revenue growth Q +84.65% (above 0%: growing)
Operating income growth Q +102.33% (above 0%: growing)
EPS, this year +50.05% (at or above 15%: strong)
EPS, next year A +10.43%
Revenue, next year A +55.32% (at or above 10%: strong)
EPS, past 5 yrs +23.45% (at or above 15%: strong)
EPS, next 5 yrs A +22.97% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 19.6×, against a ten-year median of 16.1×; over the ten years it ranged from 9.4× in 2016 to 31.6× in 2026.
P/E against its own 10 years 23.10%
10-year low 10-year high
P/S against its own 10 years 62.89%
10-year low 10-year high
P/B against its own 10 years 93.73%
10-year low 10-year high
EV/Sales against its own 10 years 66.12%
10-year low 10-year high

Dividends raised 2 years running

Yield
0.57%
Annual rate
0.75
Payout ratio
16.6%
Growth, 2017–25
+9.05%/yr
  1. 0.33 ’17
  2. 0.36 ’18 +9
  3. 0.36 ’19 +0
  4. 0.42 ’20 +17
  5. 0.57 ’21 +36
  6. 0.75 ’22 +32
  7. 0.60 ’23 −20
  8. 0.62 ’24 +3
  9. 0.66 ’25 +6
  10. 0.78 ’26e +18
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 547 818 1,154 100
Receivables 16 6 47 26
Inventory 1 — — —
Other 3 4 4 4
567 828 1,204 130
2023 2024 2025 Q'26
Payables 13 14 23 16
ST’ Debt — — — —
Other 12 14 22 15
26 30 155 279

Compound Annual Growth %

10y 5y 3y
Sales 13.56% 16.12% 29.53%
Cash Flow 16.01% 20.00% 36.84%
Earnings 0.00% 23.72% 30.05%
Book Value 7.67% 8.75% 8.96%

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 1.15 Actual 1.19

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 0.59 0.62 Beat by 0.03
Dec 2025 0.93 1.22 Beat by 0.29
Mar 2026 1.15 1.28 Beat by 0.13
Jun 2026 1.15 1.19 Beat by 0.04
Sep 2026 0.91 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 1.28 1.19 — — —
’25 0.56 0.64 0.81 1.23 3.24
’24 0.36 0.27 0.34 0.19 1.17
’23 0.25 0.31 0.26 0.37 1.19
’22 0.35 0.33 0.43 0.37 1.48
’21 0.36 0.37 0.30 0.65 1.67
’20 0.21 0.24 0.33 0.35 1.13
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 901 929 — — —
’25 470 503 476 865 2,315
’24 297 299 308 381 1,285
’23 214 265 223 313 1,016
’22 307 303 219 236 1,065
’21 324 330 269 278 1,202
’20 255 248 307 286 1,096
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 766 650 — — —
’25 361 415 383 746 1,905
’24 219 234 254 319 1,028
’23 135 202 171 242 751
’22 211 206 154 172 743
’21 232 216 201 195 845
’20 178 152 228 208 765
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 705 (3,852) — — —
’25 265 67 234 (3) 564
’24 (232) 177 250 204 396
’23 103 161 79 (210) 128
’22 165 191 107 259 722
’21 77 155 196 26 454
’20 177 152 227 209 765
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 892 843 794 861 1,096 1,202 1,065 1,016 1,285 2,315 3,172 +11.2% 3,595 3,948 4,435 +24.2%
Gross margin, % 36.84 39.97 37.27 40.16 53.42 54.83 53.09 56.44 62.48 72.22 75.25 +35.4 pt
EBT 194 57 443 77 505 755 670 539 644 1,698 2,399 +27.3%
EBT margin, % 21.74 6.74 55.79 8.95 46.10 62.80 62.87 53.05 50.16 73.36 75.65 +51.6 pt
Net income 195 58 427 86 508 755 669 538 529 1,472 2,051 +25.2%
Per share, $
Per share, $ Revenue 2.07 1.91 1.79 1.93 2.44 2.67 2.36 2.24 2.83 5.10 6.98 +10.5%
Earnings 0.45 0.13 0.96 0.19 1.13 1.68 1.48 1.19 1.17 3.24 4.52 +24.5%
Cash flow 1.36 1.22 1.08 1.12 1.71 1.88 1.65 1.66 2.27 4.20 5.60 +13.4%
Capex (1.87) 0.00 (2.03) 0.02 0.00 (0.87) (0.05) (1.37) (1.39) (2.96) (12.02) +5.2%
Free cash flow (0.51) 1.22 (0.95) 1.14 1.71 1.01 1.60 0.28 0.87 1.24 (6.42) n/m
Book value 11.48 11.09 11.66 11.94 12.74 13.88 14.88 15.43 16.01 19.15 21.34 +5.9%
Shares, m 430 442 443 446 449 450 452 453 453 454 454 +0.6%
Valuation, ×
Valuation, × P/E 44.04 171.54 20.24 156.58 36.94 25.55 27.23 40.70 48.48 36.27 29.35 60.8
P/S 9.57 11.69 10.91 15.41 17.08 16.08 17.20 21.58 19.85 23.05 19.00 16.2
P/B 1.73 2.01 1.67 2.49 3.28 3.09 2.73 3.14 3.51 6.14 6.22 3.0
EV/Sales 10.77 12.48 12.40 16.30 17.09 15.90 16.55 21.05 19.22 22.55 19.58 16.4
EV/FCF (43.60) 19.56 (23.32) 27.59 24.48 42.07 24.42 161.21 61.83 92.61 (21.31) 38.7
Cash, $m
Cash, $m Operating cash flow 584 539 477 502 765 845 743 751 1,028 1,905 2,545 +14.0%
Capex (805) (1) (900) 7 0 (391) (22) (623) (631) (1,341) (5,460) +5.8%
Free cash flow (220) 538 (422) 509 765 454 722 128 396 564 (2,915) n/m
Balance, $m
Balance, $m Working capital 109 91 51 90 171 220 689 541 799 1,049 (149) +28.6%
Net debt 1,069 671 1,188 771 2 (226) (696) (547) (818) (1,154) 1,869 n/m
Shareholders’ equity 4,940 4,900 5,172 5,326 5,715 6,250 6,718 6,986 7,259 8,691 9,690 +6.5%
Returns, %
Returns, % ROA 3.31 0.97 7.03 1.35 8.30 12.32 10.25 7.80 7.32 17.78 20.36 +14.5 pt
ROIC 3.06 3.39 2.40 2.99 5.68 6.20 5.22 4.90 7.08 13.12 12.45 +10.1 pt
ROE 4.29 1.17 8.48 1.64 9.20 12.62 10.32 7.85 7.43 18.45 23.55 +14.2 pt
People
People Employees 35 38 39 39 40 44 41 42 44 47 — +3.3%
Revenue/emp, $m 25.47 22.19 20.36 22.09 27.41 27.31 25.98 24.19 29.20 49.25 — +7.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Wheaton Precious Metals Corp. vs peers in Gold (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NEM Newmont Corporation $124.4B 13.9× 11.4× +15.19% (above 0%: growing) +41.32% (above 0%: growing) +13.41% (above 0%: growing) 66.32% 49.71% Compare
WPM Wheaton Precious Metals Corp. $60.2B 29.3× 25.4× +84.65% (above 0%: growing) +87.50% (above 0%: growing) −5,847.95% (below 0%: shrinking) 74.03% 71.79%
FNV Franco-Nevada Corporation $48.4B 32.9× 29.0× +57.26% (above 0%: growing) +43.75% (above 0%: growing) +143.18% (above 0%: growing) 77.64% 76.73% Compare
AU AngloGold Ashanti PLC $44.7B 11.9× 10.0× +26.95% (above 0%: growing) +49.24% (above 0%: growing) +41.62% (above 0%: growing) 54.86% 50.77% Compare
GFI Gold Fields Limited $33.5B 22.5× 7.2× +8.27% (above 0%: growing) n/m +754.13% (above 0%: growing) 37.73% 0.00% Compare
RGLD Royal Gold, Inc. $22.1B 26.4× 19.7× +84.38% (above 0%: growing) +39.58% (above 0%: growing) +97.96% (above 0%: growing) 86.59% 65.35% Compare
CDE Coeur Mining, Inc. $15.0B 15.8× 11.5× +77.37% (above 0%: growing) −73.81% (below 0%: shrinking) +104.47% (above 0%: growing) 0.00% 17.74% Compare
EQX Equinox Gold Corp. $13.2B 10.9× 9.3× +169.33% (above 0%: growing) +480.00% (above 0%: growing) −103.64% (below 0%: shrinking) 39.20% 32.14% Compare
HMY Harmony Gold Mining Company Limited $10.6B 52.0× 4.8× −3.10% (below 0%: shrinking) n/m +265.24% (above 0%: growing) 26.37% 0.00% Compare
Median of peers $27.8B 19.1× 10.7× +42.11% +42.54% +101.22% 47.03% 40.93%

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WPM metrics, ten years each

stockrow.com/WPM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com