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Wheaton Precious Metals vs First Majestic Silver: WPM and AG compared
Wheaton Precious Metals is the larger company: $772M of revenue in its latest quarter (Q3 2026) against $394M for First Majestic Silver (Q3 2026). Wheaton Precious Metals is more profitable, with an operating margin of 66.2% against 38.6%.
Where the money goes: WPM and AG
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.
First Majestic Silver (AG) · Q3 2026
First Majestic Silver, Q3 2026: revenue $394M, operating margin 38.6%, net earnings $74.5M. The chart follows the revenue to costs, profit and cash.
| Wheaton Precious Metals (WPM) | First Majestic Silver (AG) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $772M | $394M |
| Gross margin | 69.8% | — |
| Operating margin | 66.2% | 38.6% |
| Net earnings | $410M | $74.5M |
| Net margin | 53.2% | 18.9% |
| Market value | $61.9B | $7.6B |
| P/E | 42.1× | 35.8× |
| Analysts’ mean target | $172.22 | $24.00 |
Questions
Which is bigger, Wheaton Precious Metals or First Majestic Silver?
Wheaton Precious Metals is the larger company: $772M of revenue in its latest quarter (Q3 2026) against $394M for First Majestic Silver (Q3 2026).
Is Wheaton Precious Metals or First Majestic Silver growing faster?
Wheaton Precious Metals is more profitable, with an operating margin of 66.2% against 38.6%.
More: Wheaton Precious Metals earnings · how Wheaton Precious Metals makes money · First Majestic Silver earnings · how First Majestic Silver makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Nov 6, 2026; 6-K filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.