Filing Flows › Wheaton Precious Metals (WPM) › Gross margin
Wheaton Precious Metals (WPM) gross margin by quarter
Wheaton Precious Metals' gross margin was 69.8% in Q3 2026 (third quarter 2026), -4.2 pts from Q2 2026. Over the last 7 quarters it ranged from 67.8% (Q1 2025) to 77.6% (Q1 2026).
| Quarter | Gross margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 69.8% | -4.2 pts | -0.8 pts |
| Q2 2026 | 74.0% | -3.6 pts | +3.9 pts |
| Q1 2026 | 77.6% | +0.8 pts | +9.8 pts |
| Q4 2025 | 76.7% | +6.2 pts | — |
| Q3 2025 | 70.5% | +0.4 pts | — |
| Q2 2025 | 70.2% | +2.3 pts | — |
| Q1 2025 | 67.8% | — | — |
Q3 2026 at a glance
Wheaton Precious Metals, Q3 2026: revenue $772M (+62% year over year), operating margin 66.2%, net earnings $410M. The chart follows the revenue to costs, profit and cash.
Questions
What is Wheaton Precious Metals' gross margin?
Wheaton Precious Metals' gross margin was 69.8% in Q3 2026 (third quarter 2026), -4.2 pts from Q2 2026.
How has Wheaton Precious Metals' gross margin changed?
Over the last 7 quarters it ranged from 67.8% (Q1 2025) to 77.6% (Q1 2026).
Q3 2026 results → · How Wheaton Precious Metals makes money →