Wheaton Precious Metals Corp. (WPM) Balance Sheet
WPM balance sheet, 2025
December 31, 2025 · U.S. dollars$9.15B assets = $478.8M liabilities + $8.67B equity
Both columns are drawn to the same scale: what WPM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
WPM financial health
Descriptive bands, not a rating. Fiscal 2025.
WPM balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $6.15B2016 | $9.15B2025 | +4.5%/yr | |
| Total liabilities | $1.21B2016 | $478.8M2025 | −9.8%/yr | |
| Shareholders’ equity | $4.94B2016 | $8.67B2025 | +6.5%/yr | |
| Cash & short-term investments | $124.3M2016 | $1.15B2025 | +28.1%/yr | |
| Total debt | $1.19B2016 | $7.9M2025 | −42.7%/yr | |
| Net cash (debt) | −$1.07B2016 | $1.14B2025 | +$2.2B | |
| Working capital | $109.0M2016 | $1.05B2025 | +$938.5M | |
| Book value per share | $11.472016 | $19.082025 | +5.8%/yr | |
| Current ratio | 6.722016 | 7.782025 | +1.06 | |
| Debt / equity | 0.242016 | 0.002025 | −0.24 | |
| Shares outstanding | 430.8M2016 | 454.7M2025 | +0.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WPM assets
WPM liabilities and equity
WPM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
WPM balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.15B | $818.2M | $546.5M | $696.1M | $226.0M | $192.7M | $104.0M | $75.8M | $98.5M | $124.3M |
| Cash & equivalents | $1.15B | $818.2M | $546.5M | $696.1M | $226.0M | $192.7M | $104.0M | $75.8M | $98.5M | $124.3M |
| Short-term investments | — | −$9.7M | $36.6M | — | — | — | — | — | — | — |
| Receivables | $46.6M | $6.2M | $9.3M | $9.2M | $11.2M | $5.4M | $4.3M | $2.4M | $3.2M | $2.3M |
| Inventory | $0 | $3,698 | $1.4M | $10.5M | $8.7M | $2.4M | $41.5M | $1 | $0 | $0 |
| Other current assets | $3.8M | $3.7M | $10.2M | $4.3M | $3.8M | $1.3M | $4.9M | $1.5M | $1.7M | $1.5M |
| Total current assets | $1.20B | $828.1M | $567.4M | $720.1M | $249.7M | $201.8M | $154.8M | $79.7M | $103.4M | $128.1M |
| Property, plant & equipment (net) | $7.43B | $6.39B | $6.13B | $5.71B | $5.91B | $5.49B | $5.74B | $6.20B | $5.45B | $5.95B |
| Goodwill & intangible assets | $1.1M | $4.6M | $6.4M | $2.3M | $2.7M | $3.0M | $3.4M | $3.3M | $0 | $0 |
| Long-term investments | $410.5M | $99.0M | $246.7M | $255.5M | $61.5M | $199.9M | $310.6M | $167.3M | $98.7M | $64.6M |
| Other non-current assets | $106.0M | $104.5M | $80.6M | $70.8M | $71.0M | $57.8M | $67.8M | $23.5M | $27.1M | $12.2M |
| Total assets | $9.15B | $7.42B | $7.03B | $6.76B | $6.30B | $5.96B | $6.28B | $6.47B | $5.68B | $6.15B |
| Liabilities | ||||||||||
| Accounts payable | $22.5M | $13.6M | $13.5M | $12.6M | $13.9M | $13.0M | $11.8M | $19.9M | $12.1M | $18.8M |
| Short-term debt | $573,953 | $262,000 | $604,000 | $818,000 | $813,000 | $773,000 | $724,000 | $5.6M | $770.0M | $228,000 |
| Deferred revenue | — | — | $2 | — | $14.8M | $17.3M | $10.7M | $111,000 | $76,000 | −$228,000 |
| Total current liabilities | $154.4M | $29.5M | $26.1M | $30.7M | $29.7M | $31.2M | $64.7M | $28.8M | $12.1M | $19.1M |
| Long-term debt | $7.3M | $4.9M | $5.6M | $1.2M | $2.1M | $197.9M | $878.0M | $1.26B | $770.0M | $1.19B |
| Lease obligations | $7.9M | $5.2M | $6.2M | $2.0M | $2.9M | $3.6M | $4.3M | — | — | — |
| Other long-term liabilities | $317.1M | $130.7M | $14.0M | $10.4M | $14.3M | $13.7M | $9.4M | $5.3M | $1.5M | $1.3M |
| Total liabilities | $478.8M | $165.1M | $45.7M | $42.2M | $46.0M | $242.7M | $952.1M | $1.30B | $783.6M | $1.21B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $3.81B | $3.80B | $3.78B | $3.75B | $3.70B | $3.65B | $3.60B | $3.52B | $3.47B | $3.45B |
| Retained earnings (deficit) | $4.69B | $3.52B | $3.25B | $2.90B | $2.50B | $1.94B | $1.57B | $1.65B | $1.35B | $1.44B |
| Accumulated other comprehensive income | $176.6M | −$63.5M | −$40.1M | $66.5M | $47.0M | $126.9M | $160.7M | $7.9M | $77.0M | $55.3M |
| Total shareholders' equity | $8.67B | $7.26B | $6.99B | $6.72B | $6.25B | $5.71B | $5.33B | $5.17B | $4.90B | $4.94B |
| Key figures | ||||||||||
| Total debt | $7.9M | $5.2M | $6.2M | $2.0M | $2.9M | $198.6M | $878.8M | $1.27B | $770.0M | $1.19B |
| Net cash (debt) | $1.14B | $813.0M | $540.3M | $694.1M | $223.2M | −$6.0M | −$774.8M | −$1.19B | −$671.5M | −$1.07B |
| Working capital | $1.05B | $798.6M | $541.3M | $689.4M | $220.0M | $170.7M | $90.1M | $50.9M | $91.3M | $109.0M |
| Tangible book value | $8.67B | $7.25B | $6.98B | $6.72B | $6.25B | $5.71B | $5.32B | $5.17B | $4.90B | $4.94B |
| Book value per share | $19.08 | $15.99 | $15.40 | $14.85 | $13.85 | $12.70 | $11.92 | $11.65 | $11.07 | $11.47 |
| Shares outstanding | 454.7M | 454.1M | 453.5M | 452.3M | 451.2M | 450.1M | 446.9M | 443.9M | 442.4M | 430.8M |
| Current ratio | 7.78 | 28.07 | 21.76 | 23.44 | 8.41 | 6.48 | 2.39 | 2.76 | 8.52 | 6.72 |
| Quick ratio | 7.76 | 27.94 | 21.32 | 22.96 | 7.99 | 6.36 | 1.67 | 2.71 | 8.38 | 6.64 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.16 | 0.25 | 0.16 | 0.24 |
| Equity / assets | 94.8% | 97.8% | 99.4% | 99.4% | 99.3% | 95.9% | 84.8% | 79.9% | 86.2% | 80.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $100.2M | $2.17B | $1.15B | $1.16B | $1.01B | $1.09B | $818.2M | $694.1M | $540.2M | $306.1M | $546.5M | $833.9M |
| Cash & equivalents | $100.2M | $2.17B | $1.15B | $1.16B | $1.01B | $1.09B | $818.2M | $694.1M | $540.2M | $306.1M | $546.5M | $833.9M |
| Short-term investments | — | — | — | — | — | — | −$9.7M | — | $11.5M | $11.5M | — | — |
| Receivables | $26.1M | $18.1M | $46.6M | $41.5M | $15.6M | $6.3M | $4.7M | $8.5M | $8.7M | $4.8M | $9.3M | $9.5M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $3,698 | $0 | −$81,953 | −$81,953 | $1.4M | $2.4M |
| Other current assets | $3.9M | $3.1M | $3.8M | $4.0M | $4.7M | $5.3M | $5.2M | $7.2M | $10.0M | $10.0M | $10.2M | $10.3M |
| Total current assets | $130.2M | $2.19B | $1.20B | $1.20B | $1.03B | $1.10B | $828.1M | $709.9M | $558.8M | $320.8M | $567.4M | $856.2M |
| Property, plant & equipment (net) | $11.86B | $7.45B | $7.43B | $6.94B | $6.77B | $6.41B | $6.39B | $6.46B | $6.50B | $6.52B | $6.13B | $5.75B |
| Goodwill & intangible assets | $927,885 | $1.0M | $1.1M | $1.2M | $1.3M | $1.4M | $4.6M | $1.6M | $1.7M | $1.8M | $6.4M | $2.0M |
| Long-term investments | $144.8M | $164.2M | $410.5M | $264.4M | $171.5M | $128.9M | $99.0M | $103.1M | $88.1M | $246.7M | $246.7M | $200.6M |
| Other non-current assets | $30.0M | $66.2M | $106.0M | $15.6M | $15.6M | $102.4M | $104.5M | $108.0M | $103.2M | $92.4M | $80.6M | $77.2M |
| Total assets | $12.16B | $9.88B | $9.15B | $8.42B | $7.98B | $7.74B | $7.42B | $7.39B | $7.25B | $7.18B | $7.03B | $6.88B |
| Liabilities | ||||||||||||
| Accounts payable | $15.8M | $13.5M | $22.5M | $15.4M | $7.9M | $7.7M | $13.6M | $14.8M | $12.3M | $10.9M | $13.5M | $12.0M |
| Short-term debt | $586,000 | $582,910 | $573,953 | $572,000 | $566,000 | $488,000 | $262,000 | $324,000 | $435,000 | $518,000 | $604,000 | $590,000 |
| Deferred revenue | — | — | — | — | — | — | — | — | — | $70.2M | $2 | — |
| Total current liabilities | $279.3M | $483.9M | $154.4M | $148.7M | $139.1M | $96.4M | $29.5M | $27.6M | $20.8M | $88.0M | $26.1M | $22.0M |
| Long-term debt | $1.97B | $0 | $7.3M | $7.4M | $7.7M | $7.6M | $4.9M | $5.3M | $0 | $0 | $0 | $5.7M |
| Lease obligations | $7.5M | $7.7M | $7.9M | $8.0M | $8.2M | $8.1M | $5.2M | $5.7M | $5.7M | $5.9M | $6.2M | $6.2M |
| Other long-term liabilities | $222.2M | $121.0M | $317.1M | $170.6M | $109.9M | $169.1M | $130.7M | $93.2M | $66.6M | $13.3M | $19.6M | $10.6M |
| Total liabilities | $2.47B | $604.9M | $478.8M | $326.8M | $256.7M | $273.2M | $165.1M | $126.2M | $87.4M | $101.3M | $45.7M | $38.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $3.83B | $3.83B | $3.81B | $3.81B | $3.81B | $3.80B | $3.80B | $3.80B | $3.80B | $3.78B | $3.78B | $3.77B |
| Retained earnings (deficit) | $5.78B | $5.34B | $4.69B | $4.21B | $3.92B | $3.70B | $3.52B | $3.51B | $3.43B | $3.34B | $3.25B | $3.15B |
| Accumulated other comprehensive income | $53.6M | $31.5M | $32.3M | $66.7M | −$35.3M | −$41.9M | −$63.5M | −$44.5M | −$62.2M | −$47.7M | −$40.1M | −$78.9M |
| Total shareholders' equity | $9.69B | $9.27B | $8.67B | $8.09B | $7.73B | $7.47B | $7.26B | $7.26B | $7.16B | $7.08B | $6.99B | $6.84B |
| Key figures | ||||||||||||
| Total debt | $1.98B | $7.7M | $7.9M | $8.0M | $8.2M | $8.1M | $5.2M | $5.7M | $5.7M | $5.9M | $6.2M | $6.2M |
| Net cash (debt) | −$1.88B | $2.16B | $1.14B | $1.15B | $997.6M | $1.08B | $813.0M | $688.4M | $534.5M | $300.2M | $540.3M | $827.7M |
| Working capital | −$149.1M | $1.71B | $1.05B | $1.05B | $887.1M | $1.00B | $798.6M | $682.2M | $538.0M | $232.9M | $541.3M | $834.2M |
| Tangible book value | $9.69B | $9.27B | $8.67B | $8.09B | $7.72B | $7.46B | $7.25B | $7.26B | $7.16B | $7.08B | $6.98B | $6.84B |
| Book value per share | $21.30 | $20.38 | $19.07 | $17.80 | $16.99 | $16.43 | $15.98 | $15.98 | $15.77 | $15.60 | $15.40 | $15.09 |
| Shares outstanding | 455.0M | 455.0M | 454.8M | 454.8M | 454.7M | 454.4M | 454.4M | 454.3M | 454.1M | 453.7M | 453.6M | 453.5M |
| Current ratio | 0.47 | 4.53 | 7.78 | 8.09 | 7.38 | 11.38 | 28.07 | 25.71 | 26.86 | 3.65 | 21.76 | 38.93 |
| Quick ratio | 0.45 | 4.52 | 7.76 | 8.06 | 7.34 | 11.32 | 27.89 | 25.45 | 26.38 | 3.53 | 21.32 | 38.35 |
| Debt / equity | 0.20 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Equity / assets | 79.7% | 93.9% | 94.8% | 96.1% | 96.8% | 96.5% | 97.8% | 98.3% | 98.8% | 98.6% | 99.4% | 99.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
WPM financial position
At the end of fiscal 2025 (December 31, 2025), Wheaton Precious Metals had total assets of $9.2 billion (up 23.3% from a year earlier), total liabilities of $478.8 million and shareholders' equity of $8.7 billion. It held $1.2 billion in cash and short-term investments against $7.9 million of debt, a net cash position of $1.1 billion. Its current ratio was 7.78. In the latest quarter (ended June 30, 2026) total assets were $12.2 billion and equity $9.7 billion.
Related: WPM income statement, WPM cash flow statement, WPM key metrics. See the WPM stock overview for the latest quote and news.
WPM balance sheet FAQ
What are Wheaton Precious Metals's total assets?
Wheaton Precious Metals reported total assets of $9.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $7.4 billion a year earlier.
How much debt does Wheaton Precious Metals have?
Wheaton Precious Metals had $7.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.
How much cash does Wheaton Precious Metals have?
Wheaton Precious Metals held $1.2 billion in cash and short-term investments at the end of fiscal 2025; with $7.9 million of debt that is net cash of $1.1 billion.
What is Wheaton Precious Metals's book value?
Wheaton Precious Metals's shareholders' equity (book value) was $8.7 billion at the end of fiscal 2025, or $19.08 per share.
What is Wheaton Precious Metals's current ratio?
Wheaton Precious Metals had current assets of $1.2 billion and current liabilities of $154.4 million, a current ratio of 7.78 (it can cover its short-term obligations).
How much goodwill does Wheaton Precious Metals have?
Wheaton Precious Metals carried $1.1 million of goodwill and intangible assets, 0.0% of total assets, at the end of fiscal 2025.