Wheaton Precious Metals (WPM) Return on Capital Employed [ROCE] (2010 - 2026)
Wheaton Precious Metals (WPM) recorded Return on Capital Employed [ROCE] of 23.42% in Q3 2026, up 10.34 percentage points from 13.08% a year earlier but down 0.76 percentage points from the prior quarter.
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Analysis
Wheaton Precious Metals (WPM) Return on Capital Employed [ROCE] (2010 - 2026) Analysis & Trends
For FY2024, Wheaton Precious Metals reported Return on Capital Employed [ROCE] of 8.62%, up 1.27 percentage points from FY2023.
- Annual Return on Capital Employed [ROCE] has a five-year change of +6.64 percentage points (FY2019 to FY2024).
- Across earlier years, Return on Capital Employed [ROCE] came in at 7.36% in FY2023 (-0.52 pp), 7.88% in FY2022 (-4.50 pp), 12.38% in FY2021 (+3.84 pp) and 8.54% in FY2020 (+6.55 pp).
- Quarterly Return on Capital Employed [ROCE] has ranged from 6.35% in Q2 2023 to 25.06% in Q1 2026 over the past five years.
- On a year-over-year basis, Return on Capital Employed [ROCE] has increased for 11 consecutive quarters, with an average year-over-year change of +7.70 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Capital Employed [ROCE] in the last five years was a gain of 14.99 percentage points in Q1 2026, against a drop of 5.30 percentage points in Q1 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 24.18% (Q2 2026), 25.06% (Q1 2026) and 21.72% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 189.07 Bn | 145.60 Bn | - | - |
| 2 | Spdr Gold Trust | 125.11 Bn | -432.90 Bn | - | - |
| 3 | Brookfield | 101.47 Bn | -96.66 Bn | - | - |
| 4 | Blackstone | 91.35 Bn | 85.56 Bn | - | - |
| 5 | Kkr | 87.89 Bn | 54.59 Bn | 1.76 Bn | - |
| 6 | Brookfield Asset Management | 82.34 Bn | 77.22 Bn | - | - |
| 7 | Apollo Global Management | 72.94 Bn | 89.74 Bn | 4.14 Bn | - |
| 8 | Wheaton Precious Metals | 59.70 Bn | 59.70 Bn | 538.50 Mn | 23.42% |
| 9 | Ares Management | 48.49 Bn | 47.07 Bn | 376.28 Mn | - |
| 10 | Franco Nevada | 47.61 Bn | 43.98 Bn | 427.60 Mn | 20.93% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 23.42% |
| Jun 30, 2026 | 24.18% |
| Mar 31, 2026 | 25.06% |
| Dec 31, 2025 | 21.72% |
| Sep 30, 2025 | 13.08% |
| Jun 30, 2025 | 11.84% |
| Mar 31, 2025 | 10.06% |
| Dec 31, 2024 | 8.42% |
| Sep 30, 2024 | 9.09% |
| Jun 30, 2024 | 8.32% |
| Mar 31, 2024 | 8.05% |
| Dec 31, 2023 | 7.29% |
| Sep 30, 2023 | 6.50% |
| Jun 30, 2023 | 6.35% |
| Mar 31, 2023 | 6.68% |
| Dec 31, 2022 | 7.71% |
| Sep 30, 2022 | 10.83% |
| Jun 30, 2022 | 11.46% |
| Mar 31, 2022 | 11.98% |
| Dec 31, 2021 | 12.29% |
API Access
Wheaton Precious Metals Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=WPM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=WPM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();