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How Wheaton Precious Metals (WPM) makes money
Wheaton Precious Metals (WPM) made $772M of revenue in the third quarter 2026 (Q3 2026). Of every dollar of revenue, 70¢ was left as gross profit, 66¢ was left as operating profit, 53¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $772M | 100.0% |
| Cost of revenue | $233M | 30.2% |
| Gross profit | $539M | 69.8% |
| Operating expenses | $27.5M | 3.6% |
| Operating profit | $511M | 66.2% |
| Income tax | $77.4M | 10.0% |
| Net earnings | $410M | 53.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $772M | — |
| Q2 2025 | $503M | +68% |
From Wheaton Precious Metals' 6-K filed Nov 6, 2026 (on EDGAR).
Questions
How does Wheaton Precious Metals make money?
Wheaton Precious Metals (WPM) made $772M of revenue in the third quarter 2026 (Q3 2026). Of every dollar of revenue, 70¢ was left as gross profit, 66¢ was left as operating profit, 53¢ was left as net earnings.
What is Wheaton Precious Metals' profit margin?
Net earnings were $410M, 53.2% of revenue, in the third quarter 2026; the operating margin was 66.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.