WPM (Wheaton Precious Metals Corp.) Stock Financials & Earnings | Market Cap Arena

WPM (Wheaton Precious Metals Corp.) Stock Financials & Earnings | Market Cap Arena

WPMWheaton Precious Metals Corp.

Mkt Cap$69B

Basic Materials·Gold·🇨🇦 Canada·NYSE

Revenue (TTM)$1.8B

Net Income (TTM)$1.0B

EPS (TTM)$2.20

Free Cash Flow (TTM)$665M

Gross Margin72.2%

Op. Margin57.6%

Net Margin54.7%

FCF Margin36.3%

P/S Ratio (TTM)37.9x

P/E Ratio (TTM)69.3x

YoY Rev Growth+50.3%

Employees—

Earnings Reports

Next: Q4 2025 · Mar 12

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q4 22	$236M	$121M	$100M
Q1 23	$214M	$118M	$99M
Q2 23	$265M	$152M	$135M
Q3 23	$223M	$127M	$112M
Q4 23	$313M	$177M	$159M
Q1 24	$297M	$172M	$158M
Q2 24	$299M	$186M	$169M
Q3 24	$308M	$197M	$176M
Q4 24	$381M	$247M	$118M
Q1 25	$470M	$319M	$291M
Q2 25	$503M	$353M	$330M
Q3 25	$476M	$402M	$316M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q4 22	65.1x	103.7x
Q1 23	71.4x	111.4x
Q2 23	74.3x	112.7x
Q3 23	73.9x	129.6x
Q4 23	68.3x	129.0x
Q1 24	63.2x	117.5x
Q2 24	61.3x	121.5x
Q3 24	57.0x	113.8x
Q4 24	54.0x	131.1x
Q1 25	47.6x	112.1x
Q2 25	41.7x	87.9x
Q3 25	37.9x	69.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	$172M	$128M
Q1 23	$135M	$103M
Q2 23	$202M	$114M
Q3 23	$171M	$77M
Q4 23	$242M	-$218M
Q1 24	$219M	-$243M
Q2 24	$234M	$189M
Q3 24	$254M	$224M
Q4 24	$319M	$201M
Q1 25	$361M	$265M
Q2 25	$415M	$67M
Q3 25	$383M	$132M

Capital Expenditures

CapEx

Quarter	CapEx
Q4 22	$44M
Q1 23	$32M
Q2 23	$89M
Q3 23	$95M
Q4 23	$460M
Q1 24	$463M
Q2 24	$46M
Q3 24	$31M
Q4 24	$119M
Q1 25	$96M
Q2 25	$348M
Q3 25	$251M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	-15.1%	+1214.3%
Q1 23	-30.2%	-21.5%
Q2 23	-12.5%	-15.2%
Q3 23	+2.0%	-4.5%
Q4 23	+32.8%	+13.1%
Q1 24	+38.4%	+19.6%
Q2 24	+12.9%	+0.2%
Q3 24	+38.1%	+19.3%
Q4 24	+21.4%	+70.4%
Q1 25	+58.5%	+29.7%
Q2 25	+68.3%	+33.4%
Q3 25	+54.5%	+21.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$8M	3.6%
Q1 23	$7M	3.4%
Q2 23	$4M	1.7%
Q3 23	$4M	1.9%
Q4 23	$7M	2.1%
Q1 24	$1M	0.4%
Q2 24	$6M	2.1%
Q3 24	$10M	3.1%
Q4 24	$6M	1.6%
Q1 25	$12M	2.6%
Q2 25	$10M	2.0%
Q3 25	$9M	1.8%

OpEx Breakdown

Quarter	G&A	S&M
Q4 22	$16M	—
Q1 23	$16M	—
Q2 23	$14M	—
Q3 23	$12M	—
Q4 23	$15M	—
Q1 24	$11M	—
Q2 24	$16M	—
Q3 24	$19M	—
Q4 24	$16M	—
Q1 25	$25M	—
Q2 25	$20M	—
Q3 25	$10M	$9M

Revenue by Geography

Quarter	Brazil	Canada	Colombia	Mexico	Peru	Portugal	Sweden	United States
Q2 23	$91M	$15M	$1M	$73M	$59M	$7M	$9M	$9M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$696M	$0	$696M
Q1 23	$800M	$0	$800M
Q2 23	$829M	$0	$829M
Q3 23	$834M	$0	$834M
Q4 23	$547M	$0	$547M
Q1 24	$306M	$0	$306M
Q2 24	$540M	$0	$540M
Q3 24	$694M	$0	$694M
Q4 24	$818M	$0	$818M
Q1 25	$1.1B	$0	$1.1B
Q2 25	$1.0B	$0	$1.0B
Q3 25	$1.2B	$0	$1.2B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q4 22	453M	+0.1%
Q1 23	453M	+0.1%
Q2 23	454M	+0.1%
Q3 23	454M	-0.0%
Q4 23	454M	+0.0%
Q1 24	454M	+0.0%
Q2 24	454M	+0.1%
Q3 24	454M	+0.0%
Q4 24	454M	+0.0%
Q1 25	454M	+0.0%
Q2 25	455M	+0.1%
Q3 25	455M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 13	$177M	4
FY 14	$155M	4
FY 15	$162M	4
FY 16	$223M	4
FY 17	$211M	4
FY 18	$199M	4
FY 19	$215M	4
FY 20	$274M	4
FY 21	$300M	4
FY 22	$266M	4
FY 23	$254M	4
FY 24	$321M	4