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Barrick Mining vs Wheaton Precious Metals: B and WPM compared
Barrick Mining is the larger company: $3.7B of revenue in its latest quarter (Q2 2025) against $772M for Wheaton Precious Metals (Q3 2026). Wheaton Precious Metals is more profitable, with an operating margin of 66.2% against 38.5%.
Where the money goes: B and WPM
Barrick Mining (B) · Q2 2025
Barrick Mining, Q2 2025: revenue $3.7B (+16% year over year), operating margin 38.5%, net earnings $811M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
Wheaton Precious Metals (WPM) · Q3 2026
Wheaton Precious Metals, Q3 2026: revenue $772M, operating margin 66.2%, net earnings $410M. The chart follows the revenue to costs, profit and cash.
| Barrick Mining (B) | Wheaton Precious Metals (WPM) | |
|---|---|---|
| Latest quarter | Q2 2025 | Q3 2026 |
| Revenue | $3.7B | $772M |
| Revenue growth, Y/Y | +16% | — |
| Gross margin | — | 69.8% |
| Operating margin | 38.5% | 66.2% |
| Net earnings | $811M | $410M |
| Net margin | 22.0% | 53.2% |
| Operating cash flow | $1.3B | — |
| Free cash flow | $395M | — |
| Market value | $67.6B | $61.9B |
| P/E | 9.4× | 42.1× |
| Analysts’ mean target | $50.11 | $172.22 |
Where the revenue comes from
Barrick Mining
- Carlin 2: $898M (24%)
- Other Mines 2: $610M (17%)
- Cortez 2: $579M (16%)
- Pueblo Viejo 2: $517M (14%)
Questions
Which is bigger, Barrick Mining or Wheaton Precious Metals?
Barrick Mining is the larger company: $3.7B of revenue in its latest quarter (Q2 2025) against $772M for Wheaton Precious Metals (Q3 2026).
Is Barrick Mining or Wheaton Precious Metals growing faster?
Wheaton Precious Metals is more profitable, with an operating margin of 66.2% against 38.5%.
More: Barrick Mining earnings · how Barrick Mining makes money · Wheaton Precious Metals earnings · how Wheaton Precious Metals makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Aug 11, 2025; 6-K filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.