Wheaton Precious Metals (WPM) Operating Expenses (2009 - 2026)
Wheaton Precious Metals' Operating Expenses was $133.83 million in the quarter ended Jun 30, 2026, up 55.6% from $86.02 million a year earlier and up 49.0% from the prior quarter.
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Analysis
Wheaton Precious Metals (WPM) Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Wheaton Precious Metals' Operating Expenses was $476.28 million through Jun 30, 2026, up 48.6% year-over-year; for the year ended Dec 31, 2025, it was $176.24 million, down 38.7% from the prior year.
- Operating Expenses shows a five-year compound annual growth rate of -10.7% (years ended Dec 2020 to Dec 2025).
- In earlier years, Operating Expenses was $287.61 million in the year ended Dec 31, 2024 (+13.9%), $252.6 million in the year ended Dec 31, 2023 (-5.7%), $267.78 million in the year ended Dec 31, 2022 (-7.6%) and $289.91 million in the year ended Dec 31, 2021 (-6.4%).
- Quarterly Operating Expenses has moved between $55.04 million (the quarter ended Sep 30, 2023) and $176.24 million (the quarter ended Dec 31, 2025) over five years.
- Compared with a year earlier, Operating Expenses was higher in seven of the last eight quarters, with growth averaging 32.6%.
- The best year-over-year quarter for Operating Expenses over five years was the quarter ended Dec 31, 2025 (growth of 122.1%); the worst was the quarter ended Sep 30, 2021 (a decline of 23.2%).
- Per Business Quant data, WPM's Operating Expenses in the three quarters before the quarter ended Jun 30, 2026 was $89.82 million (quarter ended Mar 31, 2026), $176.24 million (quarter ended Dec 31, 2025) and $76.39 million (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 165.57 Bn | 111.92 Bn | - | 4.62 Bn |
| 2 | Spdr Gold Trust | 134.78 Bn | -423.22 Bn | - | 149.76 Mn |
| 3 | Blackstone | 85.82 Bn | 80.74 Bn | - | 2.38 Bn |
| 4 | Kkr | 83.68 Bn | 50.16 Bn | - | 5.41 Bn |
| 5 | Brookfield | 82.01 Bn | -83.38 Bn | 4.47 Bn | 14.94 Bn |
| 6 | Brookfield Asset Management | 71.83 Bn | 68.08 Bn | - | 659.00 Mn |
| 7 | Apollo Global Management | 68.53 Bn | 6.22 Bn | 10.56 Bn | 8.74 Bn |
| 8 | Wheaton Precious Metals | 61.44 Bn | 56.87 Bn | 687.86 Mn | 133.83 Mn |
| 9 | Franco Nevada | 47.81 Bn | 45.18 Bn | 451.00 Mn | 7.80 Mn |
| 10 | Ameriprise Financial | 43.92 Bn | 5.34 Bn | 4.72 Bn | 3.50 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 133.83 Mn |
| Mar 31, 2026 | 89.82 Mn |
| Dec 31, 2025 | 176.24 Mn |
| Sep 30, 2025 | 76.39 Mn |
| Jun 30, 2025 | 86.02 Mn |
| Mar 31, 2025 | 90.22 Mn |
| Dec 31, 2024 | 79.35 Mn |
| Sep 30, 2024 | 65.02 Mn |
| Jun 30, 2024 | 69.11 Mn |
| Mar 31, 2024 | 74.14 Mn |
| Dec 31, 2023 | 77.77 Mn |
| Sep 30, 2023 | 55.04 Mn |
| Jun 30, 2023 | 64.69 Mn |
| Mar 31, 2023 | 55.10 Mn |
| Dec 31, 2022 | 61.52 Mn |
| Sep 30, 2022 | 64.09 Mn |
| Jun 30, 2022 | 75.37 Mn |
| Mar 31, 2022 | 66.81 Mn |
| Dec 31, 2021 | 67.88 Mn |
| Sep 30, 2021 | 62.91 Mn |
API Access
Wheaton Precious Metals Operating Expenses 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=operating-expenses&ticker=WPM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=WPM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();