Wheaton Precious Metals (WPM) Stock Analysis

November 11, 2026

This is a peer-relative look at Wheaton Precious Metals (WPM): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Materials peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Wheaton Precious Metals (WPM)
Profile Item	WPM
Name	Wheaton Precious Metals Corp.
Country/Region	Canada
GICS Sector	Materials
GICS Industry Group	Materials
GICS Industry	Metals & Mining
GICS Sub-Industry	Gold
Market Capitalization	61.91 billion USD
Currency	USD
Exchange	NYSE
Listing Date	July 6, 2005
Security Type	Common Stock

Price Performance

Cumulative Growth

WPM

GSPC

Wheaton Precious Metals (WPM) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Wheaton Precious Metals (WPM) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Wheaton Precious Metals (WPM) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Wheaton Precious Metals (WPM) metric values compared with Materials industry-group medians
Metric	Current stock: WPM	Industry group median
Total Return (1Y)	45.35%	19.59%
Total Return (3Y, Annualized)	50.60%	18.91%
Total Return (5Y, Annualized)	29.06%	5.70%

Risk Profile

Drawdown History

WPM

GSPC

Wheaton Precious Metals (WPM) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Wheaton Precious Metals (WPM) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Wheaton Precious Metals (WPM) metric values compared with Materials industry-group medians
Metric	Current stock: WPM	Industry group median
Volatility (1Y, Annualized)	52.11%	52.82%
Beta (5Y)	0.49	0.97
Max Drawdown (5Y)	-43.29%	-58.44%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. WPM is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Wheaton Precious Metals (WPM) metric values compared with Materials industry-group medians
Metric	Current stock: WPM	Industry group median
Sharpe Ratio (1Y)	0.79	0.32
Sortino Ratio (1Y)	1.14	0.47

Profitability

ROE (TTM)

Wheaton Precious Metals (WPM) posts ROE of 23.10%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.

WPM

Materials industry group

23.10%

Group distribution

Max: 52.88%
WPM: 23.10%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Largest peers

SCCO: 52.88%
NEM: 27.26%
BHP: 24.00%
AEM: 23.24%
WPM: 23.10%
RIO: 19.31%
LIN: 17.72%

Where Wheaton Precious Metals (WPM) stands on ROE within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Wheaton Precious Metals (WPM) keeps 60.39% of revenue as net profit on net margin, above the industry benchmark range. That is unusually strong bottom-line conversion, though tax effects, asset sales, or other one-off gains should be checked before treating it as durable.

WPM

Materials industry group

60.39%

Group distribution

WPM: 60.39%
Max: 38.66%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Largest peers

WPM: 60.39%
AEM: 41.01%
SCCO: 37.16%
NEM: 34.73%
RIO: 19.59%
LIN: 19.34%
BHP: 16.73%

Where Wheaton Precious Metals (WPM) stands on net margin within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Wheaton Precious Metals (WPM) turns 66.70% of revenue into operating profit, putting operating margin in the upper peer quartile. Before financing and taxes enter the picture, the day-to-day business keeps more of each sales dollar than most industry peers.

WPM

Materials industry group

66.70%

Group distribution

WPM: 66.70%
Max: 66.70%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Largest peers

WPM: 66.70%
SCCO: 59.94%
AEM: 55.49%
NEM: 49.99%
BHP: 43.34%
RIO: 28.05%
LIN: 27.97%

Where Wheaton Precious Metals (WPM) stands on operating margin within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Wheaton Precious Metals (WPM) metric values compared with Materials industry-group medians
Metric	Current stock: WPM	Industry group median
ROE (TTM)	23.10%	8.76%
ROA (TTM)	15.22%	4.42%
Net Margin (TTM)	60.39%	5.28%
Operating Margin (TTM)	66.70%	12.56%
Gross Margin (TTM)	86.61%	27.57%

Growth

Revenue Growth

Wheaton Precious Metals (WPM) grew revenue 80.18%, in the upper peer quartile. The top line is expanding faster than at most industry peers, which points to share gains or stronger pricing.

Wheaton Precious Metals (WPM): Revenue Growth across different time periods, set against Materials industry-group medians.

EPS Growth

Wheaton Precious Metals (WPM) grew earnings per share 177.85%, in the upper peer quartile. Per-share profits are compounding faster than at most industry peers.

Wheaton Precious Metals (WPM): EPS Growth across different time periods, set against Materials industry-group medians.

Growth Metrics

Wheaton Precious Metals (WPM) metric values compared with Materials industry-group medians
Metric	Current stock: WPM	Industry group median
Revenue Growth (YoY)	80.18%	8.36%
Revenue Growth (3Y CAGR)	29.53%	0.59%
EPS Growth (YoY)	177.85%	-1.73%
EPS Growth (3Y CAGR)	29.83%	2.12%

Financial Strength

Current Ratio (MRQ)

Wheaton Precious Metals (WPM) has current ratio of 0.57, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

WPM

Materials industry group

0.57

Group distribution

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
WPM: 0.57
Min: 0.16

Largest peers

SCCO: 4.31
AEM: 2.75
NEM: 2.45
BHP: 1.89
RIO: 1.42
LIN: 0.86
WPM: 0.57

Where Wheaton Precious Metals (WPM) stands on current ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Wheaton Precious Metals (WPM) has debt-to-equity ratio of 0.16, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

WPM

Materials industry group

0.16

Group distribution

Max: 1.98
Q3: 0.89
Median: 0.47
WPM: 0.16
Q1: 0.13
Min: 0.00

Largest peers

LIN: 0.65
SCCO: 0.63
BHP: 0.50
RIO: 0.32
WPM: 0.16
NEM: 0.16
AEM: 0.01

Where Wheaton Precious Metals (WPM) stands on debt-to-equity ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Wheaton Precious Metals (WPM) metric values compared with Materials industry-group medians
Metric	Current stock: WPM	Industry group median
Current Ratio (MRQ)	0.57	2.24
Debt / Equity (MRQ)	0.16	0.47
Net Debt / EBITDA	0.50	1.37

Dividends

Dividend Yield (TTM)

Wheaton Precious Metals (WPM) has dividend yield of 0.57%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.

WPM

Materials industry group

0.57%

Group distribution

Max: 4.52%
Q3: 1.85%
WPM: 0.57%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Largest peers

RIO: 5.59%
SCCO: 2.30%
BHP: 2.19%
LIN: 1.21%
AEM: 0.93%
NEM: 0.87%
WPM: 0.57%

Where Wheaton Precious Metals (WPM) stands on dividend yield within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Wheaton Precious Metals (WPM) has payout ratio of 16.29%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

WPM

Materials industry group

16.29%

Group distribution

Max: 83.62%
Q3: 41.37%
WPM: 16.29%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Largest peers

BHP: 68.84%
RIO: 54.46%
SCCO: 52.43%
LIN: 41.83%
WPM: 16.29%
AEM: 14.26%
NEM: 11.95%

Where Wheaton Precious Metals (WPM) stands on payout ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Wheaton Precious Metals (WPM) metric values compared with Materials industry-group medians
Metric	Current stock: WPM	Industry group median
Dividend Yield (TTM)	0.57%	0.38%
Dividend Payout Ratio (TTM)	16.29%	9.54%

Valuation

P/E Ratio (TTM)

Wheaton Precious Metals (WPM) trades at P/E ratio of 29.63, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

WPM

Materials industry group

29.63

Group distribution

Max: 59.00
Q3: 32.93
WPM: 29.63
Median: 18.82
Q1: 11.96
Min: 3.93

Largest peers

LIN: 34.21
WPM: 29.63
SCCO: 22.27
BHP: 20.70
AEM: 15.61
NEM: 14.03
RIO: 11.35

Where Wheaton Precious Metals (WPM) stands on P/E ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Wheaton Precious Metals (WPM) trades at 17.86 on P/S ratio, above the industry benchmark range. The stock is being valued at an unusually rich price per dollar of trailing revenue.

WPM

Materials industry group

17.86

Group distribution

WPM: 17.86
Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

Largest peers

WPM: 17.86
SCCO: 8.34
LIN: 6.53
AEM: 6.44
NEM: 4.72
BHP: 3.46
RIO: 2.20

Where Wheaton Precious Metals (WPM) stands on P/S ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Wheaton Precious Metals (WPM) trades at 6.17 on P/B ratio, in the higher book-value quartile. The market is paying a premium to book, so stronger ROE, cleaner assets, or a better growth profile need to justify it.

WPM

Materials industry group

6.17

Group distribution

Max: 6.59
WPM: 6.17
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

Largest peers

SCCO: 10.89
WPM: 6.17
LIN: 6.00
BHP: 3.98
NEM: 3.53
AEM: 3.27
RIO: 2.08

Where Wheaton Precious Metals (WPM) stands on P/B ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Wheaton Precious Metals (WPM) metric values compared with Materials industry-group medians
Metric	Current stock: WPM	Industry group median
P/E Ratio (TTM)	29.63	18.82
P/S Ratio (TTM)	17.86	1.87
P/B Ratio (MRQ)	6.17	2.08
Free Cash Flow Yield (TTM)	-5.11%	3.08%