Logo

WPM

Wheaton Precious Metals Corp.

WPM

Wheaton Precious Metals Corp. • NYSE
$110.05 ▲ 3.08% (+3.29)
Market Cap $49.96 B
52w High $114.36
52w Low $55.47
Dividend Yield 0.49%
P/E 50.02
Volume 1.18M
Outstanding Shares 454.00M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $476.257M ▼ $86.448M ▲ $367.216M ▲ 77.105% ▲ $0.81 ▲ $480.337M ▲
Q2-2025 $503.218M ▲ $23.352M ▼ $292.27M ▲ 58.08% ▲ $0.64 ▲ $413.436M ▲
Q1-2025 $470.411M ▲ $28.399M ▼ $253.984M ▲ 53.992% ▲ $0.56 ▲ $373.848M ▲
Q4-2024 $380.516M ▲ $129.786M ▲ $88.147M ▼ 23.165% ▼ $0.19 ▼ $194.615M ▼
Q3-2024 $308.253M $21.468M $154.635M 50.165% $0.34 $238.104M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.158B ▲ $8.42B ▲ $326.761M ▲ $8.093B ▲
Q2-2025 $1.006B ▼ $7.982B ▲ $256.679M ▼ $7.726B ▲
Q1-2025 $1.086B ▲ $7.739B ▲ $273.155M ▲ $7.466B ▲
Q4-2024 $818.166M ▲ $7.424B ▲ $165.078M ▲ $7.259B ▼
Q3-2024 $694.085M $7.386B $126.165M $7.26B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $367.216M ▲ $382.953M ▼ $-158.603M ▲ $-72.51M ▲ $151.821M ▲ $132.323M ▲
Q2-2025 $292.27M ▲ $414.959M ▲ $-347.895M ▼ $-146.923M ▼ $-79.696M ▼ $67.008M ▼
Q1-2025 $253.984M ▲ $360.793M ▲ $-95.764M ▲ $2.384M ▲ $267.415M ▲ $265.053M ▲
Q4-2024 $88.147M ▼ $319.471M ▲ $-125.267M ▼ $-69.912M ▼ $124.081M ▼ $200.506M ▼
Q3-2024 $154.635M $254.337M $-31.233M $-69.297M $153.868M $223.505M

Five-Year Company Overview

Income Statement

Income Statement Wheaton’s income statement shows a relatively steady, high‑margin business with some modest ups and downs. Revenue has grown over the five‑year period, despite a soft patch in the middle, and operating profit has stayed healthy thanks to low, predictable costs from its streaming model. Net income has been fairly stable rather than sharply rising, which reflects metal price swings and occasional one‑off items, but overall profitability remains strong for a materials company. Earnings per share haven’t moved dramatically, suggesting a mature, cash‑generative business with controlled share count and no extreme volatility in results.

Balance Sheet

Balance Sheet The balance sheet is a core strength. Total assets and shareholder equity have climbed consistently, pointing to disciplined reinvestment and retained earnings. Cash on hand has increased meaningfully in recent years, giving the company flexibility to fund new streaming deals without stretching its finances. Debt is minimal to almost negligible, which reduces financial risk and interest burden. Overall, the company looks conservatively financed and well positioned to handle downturns or seize new opportunities.

Cash Flow

Cash Flow Operating cash flow is solid and has generally trended upward, supporting the idea of a resilient, cash‑rich business. Free cash flow, however, is choppier because Wheaton’s “capex” largely reflects upfront payments for new streaming agreements rather than traditional mine spending. In years with heavier investment, free cash flow tightens; in lighter investment years, it improves. This pattern is normal for its model: cash generation is strong, but actual free cash flow depends on how aggressively the company is deploying capital into new deals at any given time.

Competitive Edge

Competitive Edge Wheaton holds a distinct competitive position by focusing on streaming rather than operating mines. Its costs per ounce are largely fixed and low, which helps protect margins even when mining costs elsewhere rise. Because it does not run the mines, it avoids many day‑to‑day operational risks and instead spreads risk across a diversified portfolio of long‑life assets and jurisdictions. The business also benefits from exposure to upside when partner mines expand resources or extend mine life, without Wheaton bearing exploration costs. Combined with a strong balance sheet, this creates a durable competitive moat versus both traditional miners and many financing competitors.

Innovation and R&D

Innovation and R&D While Wheaton is not a technology developer in the usual sense, its innovation is in financial engineering, risk assessment, and deal structuring. The company applies sophisticated geological and financial analysis to select and price streams, which is its core “R&D.” It also runs the “Future of Mining Challenge,” funding new technologies that can cut energy use and improve water management in mining. This not only supports environmental goals but may deepen relationships with partners and keep Wheaton at the forefront of more sustainable, modern mining finance practices.

Summary

Overall, Wheaton Precious Metals appears to combine a strong financial foundation with a differentiated, lower‑risk way to gain exposure to precious metals. Its income statement highlights resilient profitability, and the balance sheet is notably conservative, with rising equity and very little debt. Cash flow generation is robust, though actual free cash flow moves with the pace of new streaming investments. The streaming model, diversified portfolio, and ESG‑aligned initiatives form a meaningful competitive edge. Key uncertainties remain around metal price cycles, partner performance at underlying mines, and the need to continually find attractive new streams, but the company’s structure and financial position give it considerable room to navigate those risks and pursue long‑term growth.

NEWS

November 26, 2025 · 4:52 PM UTC

Wheaton Precious Metals Completes Previously Announced Gold Stream on the Hemlo Mine

Read more

November 19, 2025 · 2:09 PM UTC

BTV Features Tech and Resource Innovators with HydroGraph Clean Power, Electra Battery Materials, Highland Copper, Nuclear Vision, Cascadia Minerals, Vizsla Royalties, Angkor Resources, & Ynvisible Interactive

Read more

November 6, 2025 · 6:44 PM UTC

DIVIDEND DECLARATION - Wheaton Precious Metals Announces Quarterly Dividend

Read more

November 6, 2025 · 5:19 PM UTC

Wheaton Precious Metals Announces the Acquisition of a Gold Stream on the Spring Valley Project Located in Nevada

Read more

October 29, 2025 · 12:37 AM UTC

Beyond Downtown: Wheaton, IL's Balanced Lifestyle Highlighted by Real Estate Expert Lance Kammes in HelloNation

Read more