Wheaton Precious Metals (WPM) Operating Margin (2009 - 2026)

Wheaton Precious Metals has disclosed Operating Margin across 18 years of filings, most recently posting 74.85% for Q1 2026.

• In Q1 2026, Operating Margin rose 1306.0% year-over-year to 74.85%; the TTM figure through Mar 2026 stood at 70.18% (up 1121.0% YoY), while the FY2025 annual figure was 68.33%, up 2001.0% from the prior year.
• Operating Margin improved to 74.85% in Q1 2026, from 49.58% in the prior quarter.
• Over the last five years, Operating Margin for WPM reached as high as 74.85% in Q1 2026 and fell as low as 30.91% in Q4 2024.
• The 5-year median for Operating Margin is 51.03% (2023), against an average of 53.21%.
• Annual changes were most pronounced in 2022 — Operating Margin plunged 6217 bps — and 2025, when it jumped 1867 bps.
• A 5-year view of Operating Margin shows it stood at 42.23% in 2022, then advanced by 20 bps to 50.79% in 2023, then plunged by 39 bps to 30.91% in 2024, then jumped by 60 bps to 49.58% in 2025, then surged by 51 bps to 74.85% in 2026.
• According to Business Quant data, Operating Margin over the past three periods registered 74.85%, 49.58%, and 66.25% for Q1 2026, Q4 2025, and Q3 2025 respectively.