Wheaton Precious Metals (WPM) Return on Invested Capital [ROIC] (2010 - 2026)
Wheaton Precious Metals (WPM) reported Return on Invested Capital [ROIC] of 22.20% for Q3 2026, up 10.77 percentage points from 11.43% a year earlier and up 0.79 percentage points from the prior quarter.
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Analysis
Wheaton Precious Metals (WPM) Return on Invested Capital [ROIC] (2010 - 2026) Analysis & Trends
For FY2024, Wheaton Precious Metals posted Return on Invested Capital [ROIC] of 7.13%, down 0.19 percentage points from FY2023.
- Return on Invested Capital [ROIC] has declined for three consecutive years, though with a five-year change of +5.15 percentage points (FY2019 to FY2024).
- By year, Return on Invested Capital [ROIC] came in at 7.32% in FY2023 (-0.53 pp), 7.85% in FY2022 (-4.50 pp), 12.35% in FY2021 (+3.83 pp) and 8.52% in FY2020 (+6.54 pp).
- The Q3 2026 figure ranks as the highest quarterly Return on Invested Capital [ROIC] in data going back to Q3 2010.
- Year over year, Return on Invested Capital [ROIC] has now increased in each of the last seven quarters, with an average year-over-year change of +6.71 percentage points over the last eight quarters.
- The high point for year-over-year Return on Invested Capital [ROIC] in five years was Q1 2026 (a gain of 13.43 percentage points); the low point was Q1 2023 (a drop of 5.18 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 21.41% (Q2 2026), 21.79% (Q1 2026) and 19.45% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 189.07 Bn | 145.60 Bn | - | 9.65% |
| 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 | - | 21.77% |
| 5 | Kkr | 87.89 Bn | 54.59 Bn | 1.76 Bn | -4.58% |
| 6 | Brookfield Asset Management | 82.34 Bn | 77.22 Bn | - | 39.58% |
| 7 | Apollo Global Management | 72.94 Bn | 89.74 Bn | 4.14 Bn | 1.14% |
| 8 | Wheaton Precious Metals | 59.70 Bn | 59.70 Bn | 538.50 Mn | 22.20% |
| 9 | Ares Management | 48.49 Bn | 47.07 Bn | 376.28 Mn | -19.43% |
| 10 | Franco Nevada | 47.61 Bn | 43.98 Bn | 427.60 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 22.20% |
| Jun 30, 2026 | 21.41% |
| Mar 31, 2026 | 21.79% |
| Dec 31, 2025 | 19.45% |
| Sep 30, 2025 | 11.43% |
| Jun 30, 2025 | 10.22% |
| Mar 31, 2025 | 8.36% |
| Dec 31, 2024 | 7.22% |
| Sep 30, 2024 | 8.30% |
| Jun 30, 2024 | 7.74% |
| Mar 31, 2024 | 7.87% |
| Dec 31, 2023 | 7.26% |
| Sep 30, 2023 | 6.50% |
| Jun 30, 2023 | 6.34% |
| Mar 31, 2023 | 6.61% |
| Dec 31, 2022 | 7.69% |
| Sep 30, 2022 | 10.81% |
| Jun 30, 2022 | 11.45% |
| Mar 31, 2022 | 11.79% |
| Dec 31, 2021 | 12.25% |
API Access
Wheaton Precious Metals Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=WPM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=WPM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();