Wheaton Precious Metals (WPM) Gross Margin (2009 - 2026)
Wheaton Precious Metals' (WPM) quarterly Gross Margin came in at 74.03% in Q2 2026, up 387.0% year-over-year from 15.2% in Q2 2025, and down 4.58% quarter-over-quarter from 77.58% in Q1 2026.
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Wheaton Precious Metals (WPM) Gross Margin (2009 - 2026) Analysis & Trends
Wheaton Precious Metals (WPM) has reported Gross Margin for 18 consecutive years, with 74.03% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Gross Margin rose 387.0% year-over-year to 74.03% in Q2 2026; TTM through Jun 2026 was 73.02%, a 583.0% increase from a year earlier, with the FY2025 full-year figure at 72.22%, up 975.0% from the prior year.
- Gross Margin was 74.03% for Q2 2026 at Wheaton Precious Metals, down from 77.58% in the prior quarter.
- Over five years, Gross Margin peaked at 77.58% in Q1 2026 and troughed at 46.68% in Q3 2022.
- A 5-year average of 61.88% and a median of 60.4% in 2022 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin plunged 963 bps in 2022 and jumped 1019 bps in 2023, its largest moves.
- Over 5 years, Gross Margin stood at 51.34% in 2022, then increased by 10 bps to 56.52% in 2023, then climbed by 15 bps to 65.02% in 2024, then gained by 6 bps to 69.03% in 2025, then gained by 7 bps to 74.03% in 2026.
- The last three Gross Margin figures came in at 74.03% (Q2 2026), 77.58% (Q1 2026), and 69.03% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Blackstone | 103.57 Bn | 101.06 Bn | - | - |
| 2 | Kkr | 93.46 Bn | -183.61 Bn | - | - |
| 3 | Apollo Global Management | 77.60 Bn | 52.22 Bn | 10.54 Bn | 94.50% |
| 4 | Brookfield Asset Management | 76.45 Bn | 74.94 Bn | - | - |
| 5 | Wheaton Precious Metals | 71.34 Bn | 71.24 Bn | 687.86 Mn | 74.03% |
| 6 | Franco Nevada | 51.21 Bn | 49.67 Bn | 451.00 Mn | 77.64% |
| 7 | Brookfield | 37.98 Bn | 7.42 Bn | 19.38 Bn | 99.89% |
| 8 | Ares Management | 30.49 Bn | 30.49 Bn | - | - |
| 9 | Carlyle | 15.82 Bn | 14.57 Bn | - | - |
| 10 | Tpg | 8.08 Bn | 7.13 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 74.03% |
| Mar 31, 2026 | 77.58% |
| Dec 31, 2025 | 69.03% |
| 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% |