Wheaton Precious Metals (WPM) financial statements
Wheaton Precious Metals reported revenue of $2.3B in fiscal 2025, up 11.2% a year over 9 years.
Net income was $1.5B.
The diluted share count rose 6% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Wheaton Precious Metals's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $892M | $843M | $794M | $861M | $1.1B | $1.2B | $1.1B | $1.0B | $1.3B | $2.3B |
| Cost of revenue | $563M | $506M | $498M | $515M | $511M | $543M | $500M | $443M | $482M | $643M |
| Gross profit | $328M | $337M | $296M | $346M | $586M | $659M | $565M | $573M | $803M | $1.7B |
| Selling, general and admin | $34M | $35M | $52M | $55M | $66M | $35M | $36M | $38M | $41M | $47M |
| Operating income | — | $74M | $244M | $126M | $520M | $755M | $512M | $505M | $621M | $1.6B |
| Interest expense | $24M | $25M | $36M | $45M | $12M | $229,000 | $0 | $6M | $6M | $6M |
| Pre-tax income | $194M | $57M | $443M | $77M | $505M | $755M | $670M | $539M | $644M | $1.7B |
| Income tax | -$1M | -$886,000 | $16M | -$9M | -$2M | -$269,000 | $509,000 | $1M | $115M | $226M |
| Net income | $195M | $58M | $427M | $86M | $149M | $755M | $669M | $538M | $529M | $1.5B |
| EPS (diluted) | $0.45 | $0.13 | $0.96 | $0.19 | $1.13 | $1.67 | $1.48 | $1.19 | $1.17 | $3.24 |
| Diluted shares | 431M | 442M | 444M | 447M | 450M | 451M | 452M | 453M | 454M | 455M |
| Gross margin | 36.8% | 40.0% | 37.3% | 40.2% | 53.4% | 54.8% | 53.1% | 56.4% | 62.5% | 72.2% |
| Operating margin | — | 8.7% | 30.8% | 14.6% | 47.4% | 62.8% | 48.1% | 49.7% | 48.3% | 68.3% |
| Net margin | 21.9% | 6.8% | 53.8% | 10.0% | 13.6% | 62.8% | 62.8% | 52.9% | 41.2% | 63.6% |
Balance sheet
Fiscal years, from Wheaton Precious Metals's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $124M | $99M | $76M | $104M | $193M | $226M | $696M | $547M | $818M | $1.2B |
| Receivables | $2M | $3M | $2M | $7M | $6M | $12M | $10M | $10M | $6M | $47M |
| Inventory | — | — | — | — | $0 | $9M | $11M | $1M | $0 | — |
| Total current assets | $128M | $103M | $80M | $155M | $202M | $250M | $720M | $567M | $828M | $1.2B |
| Property, plant and equipment | — | — | $4M | $7M | $6M | $6M | $4M | $8M | $9M | $10M |
| Total assets | $6.2B | $5.7B | $6.5B | $6.3B | $6.0B | $6.3B | $6.8B | $7.0B | $7.4B | $9.1B |
| Total current liabilities | $19M | $12M | $29M | $65M | $31M | $30M | $31M | $26M | $30M | $155M |
| Total liabilities | $1.2B | $784M | $1.3B | $952M | $243M | $46M | $42M | $46M | $165M | $435M |
| Shareholders' equity | $4.9B | $4.9B | $5.2B | $5.3B | $5.7B | $6.3B | $6.7B | $7.0B | $7.3B | $8.7B |
| Net debt | -$124M | -$99M | -$76M | -$104M | -$193M | -$226M | -$696M | -$547M | -$818M | -$1.2B |
Cash flow
Fiscal years, from Wheaton Precious Metals's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $584M | $539M | $477M | $502M | $765M | $845M | $743M | $751M | $1.0B | $1.9B |
| Stock-based compensation | -$4M | $140,000 | $10M | $8M | $9M | -$3M | $14M | $16M | $17M | $26M |
| Dividends paid | $79M | $122M | $133M | $130M | $167M | $218M | $237M | $265M | $279M | $296M |
| Share buybacks (net) | -$33M | — | — | — | — | — | — | — | — | — |
| Net borrowing | -$273M | -$423M | $494M | -$390M | -$680M | -$195M | $0 | — | — | — |
| Dividends per share | $0.18 | $0.28 | $0.30 | $0.29 | $0.37 | $0.48 | $0.52 | $0.58 | $0.61 | $0.65 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for WPM.
Open WPM in InvestinglyQuestions
What was Wheaton Precious Metals's revenue in 2025?
$2.3B in fiscal 2025, from its 10-K filing.
From Wheaton Precious Metals's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.