Wheaton Precious Metals (WPM) Operating Margin (2009 - 2026)
Wheaton Precious Metals' Operating Margin came in at 71.79% for the quarter ended Jun 30, 2026, up 6.27 percentage points from 65.52% a year earlier but down 3.07 percentage points from the prior quarter.
Wheaton Precious Metals (WPM) Operating Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Wheaton Precious Metals reported Operating Margin of 69.43%, up 14.45 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 63.72%, up 15.39 percentage points from the prior year.
- Operating Margin carries a five-year change of +16.29 percentage points (years ended Dec 2020 to Dec 2025).
- Going back by year, Operating Margin was 48.33% in the year ended Dec 31, 2024 (-1.40 pp), 49.73% in the year ended Dec 31, 2023 (+1.67 pp), 48.06% in the year ended Dec 31, 2022 (-14.74 pp) and 62.80% in the year ended Dec 31, 2021 (+15.38 pp).
- The five-year range for quarterly Operating Margin is 30.91% (the quarter ended Dec 31, 2024) to 104.40% (the quarter ended Dec 31, 2021).
- Year-over-year, Operating Margin has increased for six consecutive quarters, with an average year-over-year change of +8.21 percentage points over the last eight quarters.
- The fastest year-over-year change in Operating Margin over five years came in the quarter ended Dec 31, 2021 (a gain of 51.11 percentage points), and the weakest in the quarter ended Dec 31, 2022 (a drop of 62.17 percentage points).
- Business Quant data shows WPM's Operating Margin at 74.85% (quarter ended Mar 31, 2026), 63.72% (quarter ended Dec 31, 2025) and 66.25% (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) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 164.03 Bn | 110.39 Bn | - | 34.74% |
| 2 | Spdr Gold Trust | 134.08 Bn | -423.92 Bn | - | - |
| 3 | Blackstone | 84.38 Bn | 79.31 Bn | - | - |
| 4 | Brookfield | 81.99 Bn | -83.40 Bn | 4.47 Bn | -53.96% |
| 5 | Kkr | 81.98 Bn | 48.46 Bn | - | - |
| 6 | Brookfield Asset Management | 71.20 Bn | 67.45 Bn | - | - |
| 7 | Apollo Global Management | 66.86 Bn | 4.54 Bn | 10.56 Bn | 16.30% |
| 8 | Wheaton Precious Metals | 60.68 Bn | 56.11 Bn | 687.86 Mn | 71.79% |
| 9 | Franco Nevada | 45.90 Bn | 43.27 Bn | 451.00 Mn | 76.73% |
| 10 | Ameriprise Financial | 43.48 Bn | 4.90 Bn | 4.72 Bn | 24.36% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 71.79% |
| Mar 31, 2026 | 74.85% |
| Dec 31, 2025 | 63.72% |
| Sep 30, 2025 | 66.25% |
| Jun 30, 2025 | 65.52% |
| Mar 31, 2025 | 61.79% |
| Dec 31, 2024 | 30.91% |
| Sep 30, 2024 | 57.08% |
| Jun 30, 2024 | 56.51% |
| Mar 31, 2024 | 53.32% |
| Dec 31, 2023 | 50.79% |
| Sep 30, 2023 | 50.29% |
| Jun 30, 2023 | 51.03% |
| Mar 31, 2023 | 45.99% |
| Dec 31, 2022 | 42.23% |
| Sep 30, 2022 | 46.90% |
| Jun 30, 2022 | 49.47% |
| Mar 31, 2022 | 51.99% |
| Dec 31, 2021 | 104.40% |
| Sep 30, 2021 | 51.26% |
Wheaton Precious Metals Operating 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=operating-margin&ticker=WPM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=WPM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();