Wheaton Precious Metals Corp. key statistics and ratios

In fiscal 2025, Wheaton Precious Metals Corp. had return on equity of 18.5%, an operating margin of 68.3%, debt equal to 0.0% of equity and a current ratio of 7.78. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Wheaton Precious Metals Corp.: financial ratios, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
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%	46.3%	62.8%	62.8%	52.9%	41.2%	63.6%
Return on equity	4.0%	1.2%	8.5%	1.6%	9.2%	12.6%	10.3%	7.8%	7.4%	18.5%
Return on assets	3.2%	1.0%	7.0%	1.4%	8.3%	12.3%	10.3%	7.8%	7.3%	17.8%
Asset turnover	0.14	0.14	0.13	0.14	0.18	0.20	0.16	0.15	0.18	0.28
Current ratio	6.72	8.52	2.76	2.39	6.48	8.41	23.44	21.76	28.07	7.78
Debt to equity	24.1%	15.7%	24.4%	16.4%	3.4%	0.0%	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	—	2.9x	6.8x	2.8x	42.5x	—	—	—	—	—
Effective tax rate	−0.7%	−1.6%	3.6%	−11.8%	−0.5%	−0.0%	0.1%	0.3%	17.9%	13.3%
Dividends ÷ net income	40.3%	211.3%	31.1%	150.9%	32.9%	28.9%	35.4%	49.3%	52.7%	20.1%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 3 checks passed · December 31, 2025

What it owns · $9.1bn

Short-term assets $1.2bnLonger-term assets $7.9bn

What it owes, and who funded it · $9.1bn

Short-term liabilities $155mLonger-term liabilities $281mShareholders' equity $8.7bn

Short-term assets cover short-term liabilities $1.2bn of assets due within a year against $155m of liabilities due within a year.
Short-term assets cover long-term liabilities $1.2bn short-term assets against $281m of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of $1.6bn against $429,000 of interest.

From Wheaton Precious Metals Corp.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: SSRM vs WPM IAG vs WPM FNV vs WPM

More: Gold stocks compared, Materials sector, rankings of US companies

Figures from Wheaton Precious Metals Corp.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Wheaton Precious Metals Corp.