Wheaton Precious Metals (WPM) Gross Margin (2009 - 2026)
Wheaton Precious Metals' Gross Margin came in at 74.03% for the quarter ended Jun 30, 2026, up 3.87 percentage points from 70.16% a year earlier but down 3.55 percentage points from the prior quarter.
Wheaton Precious Metals (WPM) Gross Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Wheaton Precious Metals reported Gross Margin of 73.02%, up 5.83 percentage points year-over-year; for the year ended Dec 31, 2025, it was 69.03%, up 6.56 percentage points from the prior year.
- Gross Margin has increased in each of the last three years, with a five-year change of +15.62 percentage points (years ended Dec 2020 to Dec 2025).
- Going back by year, Gross Margin was 62.48% in the year ended Dec 31, 2024 (+6.04 pp), 56.44% in the year ended Dec 31, 2023 (+3.34 pp), 53.09% in the year ended Dec 31, 2022 (-1.74 pp) and 54.83% in the year ended Dec 31, 2021 (+1.42 pp).
- The five-year range for quarterly Gross Margin is 46.68% (the quarter ended Sep 30, 2022) to 77.58% (the quarter ended Mar 31, 2026).
- Year-over-year, Gross Margin has increased for 13 consecutive quarters, with an average year-over-year change of +7.22 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in the quarter ended Sep 30, 2023 (a gain of 10.19 percentage points), and the weakest in the quarter ended Sep 30, 2022 (a drop of 9.63 percentage points).
- Business Quant data shows WPM's Gross Margin at 77.58% (quarter ended Mar 31, 2026), 69.03% (quarter ended Dec 31, 2025) and 70.55% (quarter ended Sep 30, 2025) in the three quarters before the quarter ended Jun 30, 2026.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 166.01 Bn | 112.36 Bn | - | - |
| 2 | Spdr Gold Trust | 133.03 Bn | -424.98 Bn | - | - |
| 3 | Blackstone | 86.20 Bn | 81.13 Bn | - | - |
| 4 | Kkr | 83.71 Bn | 50.19 Bn | - | - |
| 5 | Brookfield | 81.54 Bn | -83.85 Bn | 4.47 Bn | 23.02% |
| 6 | Brookfield Asset Management | 71.09 Bn | 67.34 Bn | - | - |
| 7 | Apollo Global Management | 68.54 Bn | 6.22 Bn | 10.56 Bn | 94.67% |
| 8 | Wheaton Precious Metals | 61.57 Bn | 57.00 Bn | 687.86 Mn | 74.03% |
| 9 | Franco Nevada | 47.40 Bn | 44.76 Bn | 451.00 Mn | 77.64% |
| 10 | Ameriprise Financial | 43.81 Bn | 5.23 Bn | 4.72 Bn | 94.14% |
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% |
Wheaton Precious Metals Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=WPM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "WPM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=WPM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();