Wheaton Precious Metals Corp.

Basic Materials

WPMSolid9 of 11 basics passed

$138.64

+2.73%

Market cap $63.0B

$138.64

+2.73%

Market cap $63.0B

Wheaton Precious Metals Corp is a precious metal streaming company. Its geographical segment includes: North America; Europe; South America; and Africa.

It is a $63.0B materials company. Revenue grew 80.2% over the last year, it keeps 64¢ of every dollar of sales as profit, and it carries $1.88B of net debt. It trades at 30.2× earnings.

Website: wheatonpm.com
Employees: 47
Sector: Basic Materials
Founded: 2004

Share price · 3 years

$40.72 → $138.64+240.5%

price only — dividends excluded

Key facts · FY2025

Revenue: total sales; $2.31B
Profit: keeps 64¢ of every $1 sold; $1.47B
Free cash flow: cash left after running the business; -$2.89B
Net debt: debt minus cash on hand; $1.88B
P/E: years of profit in the price; 30.2
EPS: earnings per share, FY2025; $3.24
Dividend: pays out 22% of profit; 0.52%
Shares: shares outstanding; 454.7M
Volatility: beta vs the market — under 1 swings less; 2.11

Revenue, last 5 years

52-week range

Low $94.37$138.64High $165.72

Today's price is 62% of the way from the year's low to its high.

Valuation vs own history

P/E

42.8×

41%

P/S

27.2×

26%

EV/EBITDA

40.7×

45%

P/B

6.5×

FCF yield

1.0%

24%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Standing in Basic Materials

Size$63.0Btop 16%
Revenue growth+30%top 13%
Net margin65%top 1%
Return on equity23%top 24%
P/E30.2×top 81%
Dividend yield0.52%top 84%

Ranked against 51 Basic Materials companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong profitability; Valuation lags behind.

Valuation22

P/E vs own history60th pct · 12/25
FCF yield-4.6% · 0/25
P/S19.5x · 5/25
EV/EBITDA27.6x · 5/25

Growth60

Revenue CAGR17.8% · 20/25
Net income CAGR18.2% · 20/25
EPS CAGR ~5Y17.9% · 20/25
Fwd implied growth-6.7% · 0/25

Profitability82

ROIC12.7% · 12/25
ROE23.0% · 20/25
Net margin63.6% · 25/25
Operating margin72.6% · 25/25

Health62

Altman Z16.58 · 25/25
Current ratio0.47 · 0/25
Interest coverage135.8x · 25/25
Net cash / debtD/A 15% · 12/25

Quality52

Piotroski F6/9 · 15/25
Beneish M-6.16 · 25/25
FCF conversion-196% · 0/25
Margin stabilityσ 8.4% · 12/25

Moat68

ROIC >12% years0/5 yrs · 0/25
Median gross margin77.5% · 25/25
FCF-positive years4/5 yrs · 18/25
Worst-year net marginworst 41.2% · 25/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2025Financial
Best year on record
$1.47B net income
FY2021Financial
Profitable every year on record
5 consecutive profitable years in our data
FY2021Financial
Revenue already above $1B
$1.20B in first reported year
May 25, 2009Acquisition
Silverstone Resources, acquired in 2009 previously traded on the TSX Venture Exchange under the symbol SST (delisted…
2004Founded
Silver Wheaton was established in 2004

Achievements

Verifiable track record, straight from the reported numbers.

#9 largest of 51 Basic Materials companies by market cap

$10 000 invested in 2021 would be worth ~$31 092 today — price return only

$2.3B revenue in FY2025

Revenue up 80.2% year over year

Profitable 5 years in a row

47 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (75.3%)
Strongly profitable — 63.6% net margin
Revenue growing 80.2% year over year
Interest covered 135.8× by operating earnings
Altman Z-Score 16.58 — low bankruptcy-risk zone

Watch-outs

Negative free cash flow (-$2.9B)

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 11 checks passed

Revenue growing — the company sells more than a year ago+80.2% YoY
Profitable — makes more than it spends$1.47B FY2025
Profit growing — earnings are higher than last year+29.8% YoY
Generates cash — cash left after running and investing-$2.89B FY2025
Debt under control — could handle its obligationscurrent ratio 0.47
Established company — not a micro-cap — lower blow-up risk$63.0B market cap
Not printing shares — share count not ballooning — you keep your slice+0.8% shares over ~5y
Proven track record — years of profitability behind it5/5 profitable years
Financially stable — balance sheet not near distressAltman Z 16.6 — safe
Pays a dividend — returns cash to shareholdersyield 0.52%
Valuation not extreme — price not wildly above earningsP/E 30.2

Peer comparisonWheaton Precious Metals Corp. vs 6 largest basic materials peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
WPM this company	$63.0B	30.2	+80.2%	63.6%	Solid
LIN Linde plc Ordinary Share	$223.2B	30.8	+6.6%	20.4%	Solid
SCCO Southern Copper Corporation	$176.8B	31.2	+32.8%	35.9%	Strong
NEM Newmont Corporation	$124.2B	14.4	+25.2%	33.4%	Strong
FCX Freeport-McMoran Inc.	$105.8B	35.9	+0.2%	11.4%	Strong
AEM Agnico Eagle Mines Ltd.	$95.8B	15.9	+43.7%	37.5%	Strong
B Barrick Mining Corporation	$67.5B	10.1	+9.2%	31.6%	Strong

Head-to-head: WPM vs LIN · WPM vs SCCO · WPM vs NEM

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 5Buy 10Hold 1

Appendix · Financial records

The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $2.31B · net income $1.47B (FY2025)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (FY2025)

$2.31B

YoY 80.2%

Net income (FY2025)

$1.47B

Margin 63.6%

Gross margin

75.3%

Operating margin

72.6%

P/E ratio

30.2

Dividend yield

0.52%

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025
Revenue	1.2	1.1	1.0	1.3	2.3
Gross profit	0.9	0.8	0.8	1.0	2.0
Operating income (EBIT)	0.8	0.5	0.5	0.6	1.6
Net income	0.8	0.7	0.5	0.5	1.5
EPS (diluted)	1.67	1.48	1.19	1.17	3.24

Cash flowFree cash flow -$2.89B · operating cash flow $2.54B (FY2025)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (FY2025)

-$2.89B

Margin -124.8%

Operating cash flow (FY2025)

$2.54B

FY basis

FCF margin

-124.8%

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Operating cash flow	0.7	0.8	1.0	1.9	2.5
Capital expenditure	-0.2	-0.7	-0.6	-1.3	-5.4
Free cash flow	0.6	0.1	0.4	0.6	-2.9
FCF margin	49.1%	8.1%	39.3%	43.9%	-124.8%

Balance sheetAssets $12.2B · net debt $1.88B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $12.2B of assets is financed

20%

80%

Liabilities $2.47B — borrowed moneyEquity $9.69B — owners' stake

Cash vs debt

Total debt $1.98B − cash $100M = net debt $1.88B

Cash on hand covers 5% of debt.

Altman Z-Score

16.58

Safe zone

Interest coverage

135.8x

EBIT ÷ interest expense

ROE

23.0%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Cash & equivalents	0.7	0.5	0.8	1.2	0.1
Total assets	6.8	7.0	7.4	9.1	12.2
Total liabilities	0.0	0.0	0.2	0.4	2.5
Total debt	0.0	0.0	0.0	0.0	2.0
Equity	6.7	7.0	7.3	8.7	9.7
Net debt	-0.7	-0.5	-0.8	-1.1	1.9

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of WPM on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $138.64 · market cap $63.0B.