Wheaton Precious Metals Corp. (WPM) Income Statement
WPM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWPM revenue and net income
Where WPM's revenue goes
2025Each bar shows an amount and its share of revenue. WPM kept 63.6% of revenue as net income.
WPM profit margins
WPM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +80.2% | +29.5% | +16.1% | +13.6% |
| Gross profit | +108.1% | +43.5% | +23.3% | +20.4% |
| Operating income | +156.5% | +46.0% | +25.1% | +23.0% |
| Net income | +178.1% | +30.0% | +23.7% | — |
| EPS (diluted) | +114.2% | +39.2% | +22.4% | +19.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WPM quarterly EPS vs estimates
Wheaton Precious Metals beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 5, 2026 (estimate $1.13).
WPM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.31B | $1.28B | $1.02B | $1.07B | $1.20B | $1.10B | $861.3M | $794.0M | $843.2M | $891.6M |
| Cost of revenue | $644.2M | $482.1M | $442.6M | $499.6M | $542.7M | $510.7M | $258.6M | $498.1M | $506.2M | $563.1M |
| Gross profit | $1.67B | $802.6M | $573.4M | $565.5M | $658.9M | $585.6M | $602.8M | $295.9M | $337.0M | $328.4M |
| Sales, general & admin | $76.8M | $84.8M | $58.4M | $53.2M | $52.1M | $58.0M | $54.5M | $48.0M | $31.6M | $31.5M |
| Total operating expenses | $78.0M | $181.8M | $68.2M | $53.6M | −$95.7M | $65.7M | $477.2M | $49.0M | $32.5M | $32.5M |
| Operating income | $1.59B | $620.8M | $505.3M | $511.9M | $754.7M | $519.9M | $125.5M | $244.3M | $73.7M | $294.0M |
| Interest income | $36.7M | $24.8M | $28.9M | $2.1M | $5.6M | $16.6M | $48.9M | $40.2M | $24.8M | $24.5M |
| Interest expense | $5.8M | $5.5M | $5.5M | $5.4M | $5.8M | $16.7M | $49.9M | $39.1M | $31.5M | $28.5M |
| Income before taxes | $1.70B | $644.3M | $539.1M | $669.6M | $754.6M | $505.3M | $77.1M | $443.0M | $56.8M | $193.8M |
| Income taxes | $226.3M | $115.2M | $1.4M | $509,000 | −$269,000 | −$2.5M | −$9.1M | $15.9M | −$886,000 | −$1.3M |
| Net income | $1.47B | $529.1M | $537.6M | $669.1M | $754.9M | $507.8M | $86.1M | $427.1M | $57.7M | $195.1M |
| EBITDA | $2.01B | $892.9M | $755.2M | $903.3M | $1.01B | $763.5M | $380.7M | $732.2M | $345.2M | $527.7M |
| EPS (diluted) | $3.02 | $1.41 | $1.17 | $1.12 | $1.31 | $1.10 | $0.56 | $0.48 | $0.63 | $0.62 |
| Gross margin | 72.2% | 62.5% | 56.4% | 53.1% | 54.8% | 53.4% | 70.0% | 37.3% | 40.0% | 36.8% |
| Operating margin | 68.8% | 48.3% | 49.7% | 48.1% | 62.8% | 47.4% | 14.6% | 30.8% | 8.7% | 33.0% |
| Net margin | 63.6% | 41.2% | 52.9% | 62.8% | 62.8% | 46.3% | 10.0% | 53.8% | 6.8% | 21.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $929.2M | $889.0M | $878.0M | $476.3M | $503.2M | $470.4M | $380.5M | $308.3M | $299.1M | $296.8M | $313.5M | $223.1M |
| Cost of revenue | $241.3M | $199.7M | $204.6M | $74.3M | $150.2M | $151.3M | $133.1M | $110.8M | $112.9M | $125.2M | $136.3M | $96.2M |
| Gross profit | $687.9M | $689.3M | $673.4M | $402.0M | $353.0M | $319.1M | $247.4M | $197.4M | $186.2M | $171.6M | $177.2M | $126.9M |
| Sales, general & admin | $15.7M | $21.8M | $13.0M | $19.1M | $20.4M | $24.8M | $22.3M | $18.6M | $15.8M | $12.3M | $15.8M | $12.5M |
| Total operating expenses | $20.8M | $22.3M | $13.4M | $86.4M | $23.4M | $28.4M | $129.8M | $21.5M | $17.2M | $13.3M | $18.0M | $14.7M |
| Operating income | $667.1M | $666.9M | $660.0M | $315.5M | $329.7M | $290.7M | $117.6M | $175.9M | $169.0M | $158.3M | $159.2M | $112.2M |
| Interest income | $2.7M | $13.0M | $9.7M | $9.7M | $8.5M | $8.8M | $7.9M | $6.8M | $4.4M | $5.7M | $9.9M | $9.3M |
| Interest expense | $30.4M | $1.4M | $1.5M | $109,000 | $1.5M | $1.4M | $1.4M | $1.4M | $1.3M | $1.4M | $1.4M | $1.4M |
| Income before taxes | $645.0M | $681.6M | $660.7M | $412.6M | $338.0M | $296.8M | $125.4M | $182.1M | $172.8M | $164.0M | $165.1M | $121.5M |
| Income taxes | $101.8M | $107.6M | $93.8M | $45.4M | $45.7M | $42.8M | $37.2M | $27.5M | $50.5M | −$27,000 | −$3.3M | $5.1M |
| Net income | $543.2M | $574.0M | $566.8M | $367.2M | $292.3M | $254.0M | $88.1M | $154.6M | $122.3M | $164.0M | $168.4M | $116.4M |
| EBITDA | $798.2M | $759.1M | $750.1M | $479.6M | $413.4M | $373.8M | $194.6M | $238.1M | $232.1M | $228.1M | $234.1M | $168.4M |
| EPS (diluted) | $1.19 | $1.28 | $1.22 | $0.62 | $0.63 | $0.55 | $0.44 | $0.34 | $0.27 | $0.36 | $0.36 | $0.27 |
| Gross margin | 74.0% | 77.5% | 76.7% | 84.4% | 70.2% | 67.8% | 65.0% | 64.0% | 62.3% | 57.8% | 56.5% | 56.9% |
| Operating margin | 71.8% | 75.0% | 75.2% | 66.2% | 65.5% | 61.8% | 30.9% | 57.1% | 56.5% | 53.3% | 50.8% | 50.3% |
| Net margin | 58.5% | 64.6% | 64.6% | 77.1% | 58.1% | 54.0% | 23.2% | 50.2% | 40.9% | 55.3% | 53.7% | 52.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WPM's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WPM financial results
In fiscal year 2025 (ended December 31, 2025), Wheaton Precious Metals reported revenue of $2.3 billion, up 80.2% from the year before. It had net income of $1.5 billion (up 178.1%), a net profit margin of 63.6%. Diluted earnings per share came to $3.02. Over five years revenue grew at an average rate of 16.1% a year.
See the WPM stock overview for the latest quote and news, or the WPM chart for price history and technical indicators.
WPM income statement FAQ
What is Wheaton Precious Metals's annual revenue?
Wheaton Precious Metals reported total revenue of $2.3 billion for fiscal year 2025, which ended on December 31, 2025. That was up 80.2% from $1.3 billion the previous year.
Is Wheaton Precious Metals profitable?
Yes. Wheaton Precious Metals reported net income of $1.5 billion in fiscal 2025, a net profit margin of 63.6%; its operating margin was 68.8%.
What is Wheaton Precious Metals's gross margin?
Wheaton Precious Metals's gross margin was 72.2% in fiscal 2025: for every $100 of revenue, Wheaton Precious Metals kept $72 after the direct cost of its products and services.
How fast is Wheaton Precious Metals growing?
Revenue grew 16.1% a year on average over the last five fiscal years, from $1.1 billion to $2.3 billion.
What are Wheaton Precious Metals's earnings per share?
Wheaton Precious Metals earned $3.02 per diluted share in fiscal 2025, compared with $1.41 a year earlier.
When will Wheaton Precious Metals report its next earnings?
Wheaton Precious Metals is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Wheaton Precious Metals's fiscal year end?
Wheaton Precious Metals's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.