Filing Flows › Wheaton Precious Metals (WPM) › Q2 2026 › vs Q2 2025
Wheaton Precious Metals (WPM) Q2 2026 vs Q2 2025 (year over year)
Wheaton Precious Metals's revenue rose $426M (+85%) from $503M in Q2 2025 to $929M in Q2 2026. Gross margin 74.0% against 70.2% (+3.9 pts).
Wheaton Precious Metals, Q2 2026: revenue $929M (+85% year over year), operating margin 71.8%, net earnings $543M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 74.0% | 70.2% | +3.9 pts |
| Operating margin | 71.8% | 65.5% | +6.3 pts |
| Net margin | 58.5% | 58.1% | +0.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $929M | $503M | $426M | +85% |
| Gross profit | $688M | $353M | $335M | +95% |
| Cost of revenue | $241M | $150M | $91.2M | +61% |
| Operating profit | $667M | $330M | $337M | +102% |
| Operating expenses | $20.8M | $23.4M | −$2.6M | -11% |
| Pre-tax earnings | $645M | $338M | $307M | +91% |
| Other expense, net | $22.0M | −$8.3M | $30.3M | — |
| Other operating costs | $9.5M | $12.3M | −$2.9M | -23% |
| Net earnings | $543M | $292M | $251M | +86% |
| Income tax | $102M | $45.7M | $56.1M | +123% |
Questions
How much did Wheaton Precious Metals's revenue grow year over year in Q2 2026?
Wheaton Precious Metals's revenue rose $426M (+85%) from $503M in Q2 2025 to $929M in Q2 2026. Gross margin 74.0% against 70.2% (+3.9 pts).