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. In the quarter to June 2026, revenue grew 84.7%, EPS grew 87.5% and free cash flow fell 5,848.0%, each against the same quarter a year earlier. Dividend growth for five consecutive years, operating cash flow growth for three.
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Wheaton Precious Metals Corp. (WPM) Piotroski F-score
Wheaton Precious Metals Corp.'s Piotroski F-score for fiscal 2025 is 7 out of 9: 7 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 7 | 0.00 |
| FY2024 | 7 | 2.00 |
| FY2023 | 5 | 0.00 |
| FY2022 | 5 | (3.00) |
| FY2021 | 8 | 0.00 |
| FY2020 | 8 | 2.00 |
| FY2019 | 6 | 2.00 |
| FY2018 | 4 | (2.00) |
| FY2017 | 6 | 0.00 |
| FY2016 | 6 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 17.78% | 7.32% | Pass | 1 |
| Positive operating cash flow | 1.90b | 1.03b | Pass | 1 |
| Rising return on assets | 17.78% | 7.32% | Pass | 1 |
| Cash flow above net income | 433.26m | 498.44m | Pass | 1 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 7.78 | 28.07 | Fail | 0 |
| No new shares issued | 453,893,000 | 453,460,000 | Fail | 0 |
| Rising gross margin | 72.22% | 62.48% | Pass | 1 |
| Rising asset turnover | 0.28 | 0.18 | Pass | 1 |
| Piotroski F-score | Strong — most fundamentals improved | 7 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| NEM Newmont Corporation compare | 9 |
| CDE Coeur Mining, Inc. compare | 8 |
| GFI Gold Fields Limited compare | 8 |
| AU AngloGold Ashanti PLC compare | 8 |
| EQX Equinox Gold Corp. compare | 7 |
| WPM Wheaton Precious Metals Corp. | 7 |
| FNV Franco-Nevada Corporation compare | 7 |
| HMY Harmony Gold Mining Company Limited compare | 6 |
| RGLD Royal Gold, Inc. compare | 4 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover