Wheaton Precious Metals Corp. (WPM) financials
NYSE · Basic Materials · Gold · 44 employees · CEO Haytham Henry Hodaly
- Price
- $116.58 -5.42%
- Market cap
- $52.9B
- Enterprise value
- $54.8B
- Last report
- Q2 '26 filed 2026-08-07
- Next report
- 2026-11-05 EPS est. $0.93
Valuation & key figures
- Market cap
- $52.9B EV $54.8B
- Revenue
- $3.17B Trailing 12 months
- Revenue growth
- +53% FY2026 consensus
- Profit margin
- 64.7% Net income / revenue, TTM
- P/E
- 25.8× Forward 25.7× (FY2026)
- P/S
- 16.7× Price / sales, TTM
- EV / EBITDA
- 19.7× TTM
- Free cash flow
- -$2.93B Trailing 12 months
- Net income
- $2.05B Trailing 12 months
- Revenue estimate
- $3.6B FY2026 consensus
- Earnings
- 2026-11-05 Revenue est. $800M
- Dividend
- $0.75 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-06): revenue beat by 5.7%, EPS beat by 3.5%Revenue $929M vs $879M expected (+5.7%); EPS $1.19 vs $1.15 (+3.5%).
- Revenue growth steady: 84.7% year on yearQ2 '26 revenue $929M, against an average of 85.6% over the four quarters before.
- Operating margin 72.8% (TTM), +17.8 pp on a year agoOperating income grew 152.7% while revenue grew 90.8%.
- Capex 172.4% of revenue (a year ago 35.7%)$5.47B invested in the last 4 quarters (+821.7% on a year earlier). Free cash flow -$2.93B = -142.7% of net income.
- Diluted share count up 0.1% in a year455M diluted shares in Q2 '26, 455M a year earlier.
- Net debt $1.88BCash + short-term investments $100M, debt incl. leases $1.98B; a year ago net cash $998M.
Last quarter: Q2 '26
Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $929M | $503M | +84.7% |
| Gross margin | 74.0% | 70.2% | +3.9 pp |
| Operating income | $667M | $330M | +102.3% |
| Operating margin | 71.8% | 65.5% | +6.3 pp |
| Net income | $543M | $292M | +85.9% |
| Diluted EPS | $1.19 | $0.64 | +85.9% |
| Operating cash flow | $650M | $415M | +56.5% |
| Capex | $4.5B | $348M | +1,193.6% |
| Free cash flow | -$3.85B | $67M | -5,847.9% |
| R&D | $0 | $0 | – |
| Stock-based compensation | $4.81M | $9.96M | -51.8% |
Reported vs consensus
2026-08-06| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $929M | $879M | +5.7% |
| EPS (as estimated) | $1.19 | $1.15 | +3.5% |
From the report of 2026-08-06 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by region
share of total| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| BRAZIL | $309M | +50.3% | 41.1% | – | – | |
| MEXICO | $127M | -35.0% | 16.9% | – | – | |
| PERU | $175M | -4.8% | 23.3% | – | – | |
| CANADA | $45.2M | -48.3% | 6.0% | – | – | |
| SWEDEN | $39.4M | +41.1% | 5.2% | – | – | |
| United States | $26.1M | -28.7% | 3.5% | – | – | |
| PORTUGAL | $25.9M | +32.7% | 3.4% | – | – | |
| COLOMBIA | $4.37M | – | 0.6% | – | – | |
| GREECE | – | – | – | – | – | |
| Columbia | – | – | – | – | – | |
| CHILE | – | – | – | – | – | |
| ECUADOR | – | – | – | – | – | |
| ARGENTINA | – | – | – | – | – | |
| Argentina and Chile | – | – | – | – | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $2.54B
- Capex
- -$5.47B
- Buybacks
- $0
- Dividends
- -$321M
- Acquisitions
- -$104M
- Net debt issued
- $1.97B
- Stock-based compensation
- $13.5M
- Free cash flow
- -$2.93B
- Returned to shareholders / FCF
- -11.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 25.8× | 35.7× | 25.9× – 48.1× |
| EV / EBITDA | 19.7× | 23.9× | 18.8× – 28.9× |
| EV / Sales | 17.3× | 18.9× | 15.9× – 22.2× |
| Price / FCF | -18.1× | 110.1× | 29.9× – 298.1× |
| Price / Book | 5.5× | 3.7× | 2.6× – 6.1× |
| FCF yield | -5.5% | 1.6% | 0.3% – 3.3% |
| Return on invested capital | 16.6% | 9.9% | 6.9% – 15.6% |
| Return on equity | 23.0% | 10.9% | 7.3% – 17.3% |
Analysts
Consensus target $164.80 (+41.4%)
range $150.00 – $180.00 · rating Buy
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $3.6B | +53.1% | $4.54 | +38.1% | 25.7× | 8 |
| FY2027 | $3.98B | +10.4% | $4.93 | +8.5% | 23.6× | 9 |
| FY2028 | $4.42B | +11.0% | $5.54 | +12.3% | 21.1× | 4 |
| FY2029 | $4.39B | -0.7% | $5.64 | +1.8% | 20.7× | 1 |
| FY2030 | $4.4B | +0.3% | $6.06 | +7.5% | 19.2× | 1 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Sources
Statements, segment revenue, metrics and estimates: Financial Modeling Prep.
Data as of 2026-11-02