Wheaton Precious Metals (WPM) Gross Margin (2009 - 2026)
Wheaton Precious Metals (WPM) posted quarterly Gross Margin of 77.58% for Q1 2026, up 975.0% year-over-year from 7.22% in Q1 2025, and up 31.75% quarter-over-quarter from 58.89% in Q4 2025.
Wheaton Precious Metals (WPM) Gross Margin (2009 - 2026) Analysis & Trends
Wheaton Precious Metals (WPM) has reported Gross Margin for 18 consecutive years, with 77.58% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin rose 975.0% year-over-year to 77.58%; the TTM figure through Mar 2026 stood at 73.82% (up 862.0% YoY), while the FY2025 annual figure was 72.22%, up 975.0% from the prior year.
- Gross Margin climbed to 77.58% in Q1 2026 per WPM's latest filing, from 58.89% in the prior quarter.
- Across five years, Gross Margin topped out at 77.58% in Q1 2026 and bottomed at 46.68% in Q3 2022.
- Historically, Gross Margin has averaged 60.57% across 5 years, with a median of 58.54% in 2022.
- Annual changes were most pronounced in 2022 — Gross Margin tumbled 963 bps — and 2023, when it surged 1019 bps.
- Wheaton Precious Metals' Gross Margin stood at 51.34% in 2022, then gained by 10 bps to 56.52% in 2023, then increased by 15 bps to 65.02% in 2024, then slipped by 9 bps to 58.89% in 2025, then soared by 32 bps to 77.58% in 2026.
- Business Quant data shows WPM's Gross Margin at 77.58% in Q1 2026, 58.89% in Q4 2025, and 70.55% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Newmont | 136.03 Bn | 127.02 Bn | 4.03 Bn | 65.87% |
| 2 | Agnico Eagle Mines | 106.09 Bn | 102.63 Bn | 2.43 Bn | 63.79% |
| 3 | Barrick Mining | 77.15 Bn | 71.23 Bn | 2.90 Bn | 54.74% |
| 4 | Wheaton Precious Metals | 68.18 Bn | 68.08 Bn | 687.86 Mn | 74.03% |
| 5 | AngloGold Ashanti | 58.68 Bn | 55.85 Bn | 1.70 Bn | 54.86% |
| 6 | Gold Fields | 40.68 Bn | 38.90 Bn | - | - |
| 7 | Pan American Silver | 21.86 Bn | 20.29 Bn | 457,000.00 | 40.66% |
| 8 | Coeur Mining | 21.72 Bn | 20.67 Bn | 535.85 Mn | 49.36% |
| 9 | Royal Gold | 21.39 Bn | 21.20 Bn | 390.45 Mn | 86.66% |
| 10 | Alamos Gold | 15.41 Bn | 14.78 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 74.03% |
| Mar 31, 2026 | 77.58% |
| Dec 31, 2025 | 58.89% |
| Sep 30, 2025 | 70.55% |
| Jun 30, 2025 | 70.16% |
| Mar 31, 2025 | 67.83% |
| Dec 31, 2024 | 65.02% |
| Sep 30, 2024 | 64.04% |
| Jun 30, 2024 | 62.26% |
| Mar 31, 2024 | 57.81% |
| Dec 31, 2023 | 56.52% |
| Sep 30, 2023 | 56.87% |
| Jun 30, 2023 | 57.31% |
| Mar 31, 2023 | 54.79% |
| Dec 31, 2022 | 51.34% |
| Sep 30, 2022 | 46.68% |
| Jun 30, 2022 | 53.58% |
| Mar 31, 2022 | 58.54% |
| Dec 31, 2021 | 54.16% |
| Sep 30, 2021 | 56.31% |