Wheaton Precious Metals's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Wheaton Precious Metals (WPM) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Wheaton Precious Metals vs Its Competitors
- TTM: Trailing 12-month revenue of 2,315M vs -M combined for its competitors (100.0% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-13.0% annualized vs trailing 12 months).
- Scale: Wheaton Precious Metals ranks #7 of 155 companies by market capitalization in the Metal Mining industry, holding 4.9% of industry market cap.
- Peer revenue share: Wheaton Precious Metals accounted for 100.0% of combined revenue among its tracked peer group, up from 100.0% a year earlier.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
WPM Sales vs. its Competitors, Q2 2025
Wheaton Precious Metals generated 100.00 % of the combined sales of its peer group, up from 100.00 % a year earlier.
API endpoints for this dataset
For context: the Metal Mining industry grew revenue 21.2% year over year, combined, vs 68.3% for Wheaton Precious Metals. Wheaton Precious Metals's share of combined industry revenue moved from 0.12% to 0.16%, a gain of 0.05 percentage points.
Wheaton Precious Metals's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Wheaton Precious Metals Corp | Yes | Yes | Yes | No |
| Competitors combined (1) | ||||
| High-Confidence Competitors (1) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
WPM Stock Performance relative to its Competitors
WPM Stock Performance relative to High-Confidence Competitors
WPM Stock Performance relative to Similar-Size Competitors
WPM Stock Performance relative to Similar Growth & Profitability Competitors
Publicly Traded Peers of Wheaton Precious Metals Corp
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Wheaton Precious Metals Corp |
61,978.11 | 2,314.60 |
 Sunstock Inc |
0.10 | 7.53 |
| SUBTOTAL | 61,978.21 | 2,322.13 |
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Wheaton Precious Metals Corp versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Wheaton Precious Metals's Competitors Named by the Company
Competitive relationships identified from Wheaton Precious Metals reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Triple Flag Precious Metals Corp | Company report | 85% |
| Gold com Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Wheaton Precious Metals's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Wheaton Precious Metals's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Wheaton Precious Metals Corp | 61,978 | 890,231 | 566,046 |
| Sunstock Inc | 0 | - | - |
| PEERS TOTAL | 0 | - | - |
Wheaton Precious Metals's Position in Industry Market Structure
Market-capitalization share and concentration across all 130 companies in Wheaton Precious Metals's industry classification, broader than the peer set above. Market cap in millions of $.Wheaton Precious Metals ranks #7 of 130 companies by market capitalization in its industry, holding 4.86 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 733, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Bhp Group Limited | 202,859 | 15.92 % |
| 2 | Southern Copper Corp | 140,154 | 11.00 % |
| 3 | Newmont Corporation | 129,011 | 10.13 % |
| 4 | Rio Tinto Plc | 105,160 | 8.25 % |
| 5 | Agnico Eagle Mines Limited | 1,234 | 5.2% |
| 6 | Freeport mcmoran Inc | 1,234 | 5.2% |
| 7 | Wheaton Precious Metals Corp | 61,975 | 4.86 % |
| 8 | Franco nevada Corporation | 1,234 | 5.2% |
| 9 | Anglogold Ashanti Plc | 1,234 | 5.2% |
| 10 | Gold Fields Limited | 1,234 | 5.2% |
Market cap and industry share for the rest of Wheaton Precious Metals's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Wheaton Precious Metals's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 2 | Southern Copper Corp | 140,154 | 27.74 % |
| 3 | Newmont Corporation | 129,011 | 46.38 % |
| 4 | Rio Tinto Plc | 105,160 | 19.59 % |
| 5 | Agnico Eagle Mines Limited | 94,151 | 15.96 % |
| 6 | Freeport mcmoran Inc | 1,234 | 12.3% |
| 7 | Wheaton Precious Metals Corp | 61,975 | 36.22 % |
| 8 | Franco nevada Corporation | 1,234 | 12.3% |
| 9 | Anglogold Ashanti Plc | 1,234 | 12.3% |
| 10 | Gold Fields Limited | 1,234 | 12.3% |
| 11 | Cameco Corporation | 1,234 | 12.3% |
| 12 | Kinross Gold Corp | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Wheaton Precious Metals's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Wheaton Precious Metals's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Metal Mining industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (111 companies). See the full Metal Mining industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 0.00 % | 27.82 % (avg) | -27.8 pp |
| Operating Margin | 68.33 % | industry median | +33.9 pp |
| EBITDA Margin | 73.36 % | 20.79 % (avg) | +52.6 pp |
| Capital Intensity (Capex / Revenue) | 0.00 % | 15.64 % (avg) | -15.6 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Wheaton Precious Metals's Valuation vs Competitive Position
Valuation multiples vs the Metal Mining industry average (111 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Metal Mining industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 33.0x | 24.0x | +9.0x |
| EV / EBITDA | - | 14.7x | - |
| P/B | - | 3.4x | - |
| Return on Equity | 16.93 % | industry aggregate | 1.81 % |
| Return on Invested Capital | 9.10 % | 6.09 % (avg) | 3.01 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Wheaton Precious Metals's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue Growth | -4.60 % | 26.44 % | 80.18 % |
| Operating Margin | 49.73 % | 48.33 % | 68.33 % |
| Return on Invested Capital | 3.61 % | 4.24 % | 9.10 % |
| P/E | 38.1x | 53.2x | 33.0x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Wheaton Precious Metals's Strategic Group Map
Wheaton Precious Metals is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Wheaton Precious Metals's trailing-12-month revenue growth of 80.2% and operating margin of 68.3% compares with an average of 67.5% growth and 54.3% margin across its 8 closest peers by combined growth, margin and ROIC -- Wheaton Precious Metals sits above that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Wheaton Precious Metals's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Wheaton Precious Metals falls in the Question Mark quadrant: relative market share of 0.31x vs its largest competitor, in an industry growing revenue 30.1% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Wheaton Precious Metals's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 733 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.00 % vs industry average 15.64 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Wheaton Precious Metals's dedicated Suppliers and Customers pages, not here.
Wheaton Precious Metals's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Wheaton Precious Metals falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Wheaton Precious Metals's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 33.9 points above the industry median.
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Latest-quarter revenue run-rate is decelerating (-13.0% annualized vs trailing 12 months).
- Low relative market share vs the industry leader (0.31x).
Opportunities
- Industry revenue growing at a healthy 30.1% median pace.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Wheaton Precious Metals's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Wheaton Precious Metals Corp | 7.46 | 7.78 | - |
| Sunstock Inc | 0.02 | 3.62 | 0.09 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Wheaton Precious Metals's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Wheaton Precious Metals Corp | Q2 2025 | +80.2 % | +178.1 % |
| Sunstock Inc | Q3 2024 | +6.0 % | - |
| PEERS TOTAL | +80.1 % | +178.2 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Wheaton Precious Metals's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Wheaton Precious Metals Corp | Q2 2025 | +33.4 % | - |
| Sunstock Inc | Q3 2024 | +0.0 % | - |
Wheaton Precious Metals's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Wheaton Precious Metals Corp | 16.13% | 16.93% | 16.93% |
| Sunstock Inc | 30.59% | 42.07% | 46.22% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Wheaton Precious Metals's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Wheaton Precious Metals Corp | 42.07 | 26.78 |
| Sunstock Inc | - | 0.01 |
| PEERS AVERAGE | 42.09 | 26.69 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.