Filing Flows › Wheaton Precious Metals (WPM) › Q3 2026 › vs Q3 2025
Wheaton Precious Metals (WPM) Q3 2026 vs Q3 2025 (year over year)
Wheaton Precious Metals's revenue rose $295M (+62%) from $476M in Q3 2025 to $772M in Q3 2026. Gross margin 69.8% against 70.5% (-0.8 pts).
Wheaton Precious Metals, Q3 2026: revenue $772M (+62% year over year), operating margin 66.2%, net earnings $410M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 69.8% | 70.5% | -0.8 pts |
| Operating margin | 66.2% | 66.2% | -0.0 pts |
| Net margin | 53.2% | 77.1% | -23.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $772M | $476M | $295M | +62% |
| Gross profit | $539M | $336M | $203M | +60% |
| Cost of revenue | $233M | $140M | $93.0M | +66% |
| Operating profit | $511M | $316M | $196M | +62% |
| Operating expenses | $27.5M | $20.5M | $7.0M | +34% |
| Pre-tax earnings | $488M | $413M | $75.1M | +18% |
| Other expense, net | $23.3M | −$97.1M | $120M | — |
| General & admin | $10.2M | $10.4M | −$199K | -2% |
| Other operating costs | $17.3M | $10.1M | $7.2M | +72% |
| Net earnings | $410M | $367M | $43.0M | +12% |
| Income tax | $77.4M | $45.4M | $32.0M | +71% |
Questions
How much did Wheaton Precious Metals's revenue grow year over year in Q3 2026?
Wheaton Precious Metals's revenue rose $295M (+62%) from $476M in Q3 2025 to $772M in Q3 2026. Gross margin 69.8% against 70.5% (-0.8 pts).