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

Wheaton Precious Metals (WPM) has reported Operating Margin for 18 consecutive years, with 71.79% the latest figure, recorded in Q2 2026.

• On a quarterly basis, Operating Margin rose 627.0% year-over-year to 71.79% in Q2 2026; TTM through Jun 2026 was 69.43%, a 1445.0% increase from a year earlier, with the FY2025 full-year figure at 68.33%, up 2001.0% from the prior year.
• Operating Margin was 71.79% for Q2 2026 at Wheaton Precious Metals, down from 74.85% in the prior quarter.
• Over five years, Operating Margin peaked at 74.85% in Q1 2026 and troughed at 30.91% in Q4 2024.
• A 5-year average of 55.02% and a median of 52.65% in 2024 frame the typical range for Operating Margin.
• Across the five-year window, Operating Margin tumbled 6217 bps in 2022 and surged 3281 bps in 2025, its largest moves.
• Over 5 years, Operating Margin stood at 42.23% in 2022, then gained by 20 bps to 50.79% in 2023, then slumped by 39 bps to 30.91% in 2024, then soared by 106 bps to 63.72% in 2025, then increased by 13 bps to 71.79% in 2026.
• The last three Operating Margin figures came in at 71.79% (Q2 2026), 74.85% (Q1 2026), and 63.72% (Q4 2025), per Business Quant data.