How Wheaton Precious Metals makes money

Period

FY2025

How does Wheaton Precious Metals make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Wheaton Precious Metals Corp Common Shares (Canada) · FY2025 · year ended 2025-12-31

Revenue$2.3BGross profit$1.7B · 72%Cost of revenue$643M · 28%Operating income$1.6B · 68%Operating expenses$90M · 4%Other opex$90M · 4%Pre-tax income$1.7B · 73%Other income$116M · 5%Net income$1.5B · 64%Income tax$226M · 10%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.