Wheaton Precious Metals Corp (WPM) - Net Assets
Based on the latest financial reports, Wheaton Precious Metals Corp (WPM) has net assets worth CA$9.25 Billion CAD (≈ $6.69 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$9.85 Billion ≈ $7.13 Billion USD) and total liabilities (CA$603.34 Million ≈ $436.45 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Wheaton Precious Metals Corp tangible equity quality to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$9.25 Billion |
| % of Total Assets | 93.88% |
| Annual Growth Rate | 42.83% |
| 5-Year Change | 38.79% |
| 10-Year Change | 75.6% |
| Growth Volatility | 6860.68 |
Wheaton Precious Metals Corp - Net Assets Trend (1998–2025)
This chart illustrates how Wheaton Precious Metals Corp's net assets have evolved over time, based on quarterly financial data. See WPM defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Wheaton Precious Metals Corp (1998–2025)
The table below shows the annual net assets of Wheaton Precious Metals Corp from 1998 to 2025. For live valuation and market cap data, see WPM market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$8.67 Billion ≈ $6.28 Billion |
+19.50% |
| 2024-12-31 | CA$7.26 Billion ≈ $5.25 Billion |
+3.92% |
| 2023-12-31 | CA$6.99 Billion ≈ $5.05 Billion |
+3.99% |
| 2022-12-31 | CA$6.72 Billion ≈ $4.86 Billion |
+7.48% |
| 2021-12-31 | CA$6.25 Billion ≈ $4.52 Billion |
+9.37% |
| 2020-12-31 | CA$5.71 Billion ≈ $4.13 Billion |
+7.30% |
| 2019-12-31 | CA$5.33 Billion ≈ $3.85 Billion |
+2.98% |
| 2018-12-31 | CA$5.17 Billion ≈ $3.74 Billion |
+5.56% |
| 2017-12-31 | CA$4.90 Billion ≈ $3.54 Billion |
-0.82% |
| 2016-12-31 | CA$4.94 Billion ≈ $3.57 Billion |
+19.01% |
| 2015-12-31 | CA$4.15 Billion ≈ $3.00 Billion |
+14.39% |
| 2014-12-31 | CA$3.63 Billion ≈ $2.62 Billion |
+7.79% |
| 2013-12-31 | CA$3.37 Billion ≈ $2.44 Billion |
+8.35% |
| 2012-12-31 | CA$3.11 Billion ≈ $2.25 Billion |
+85.83% |
| 2011-12-31 | CA$1.67 Billion ≈ $1.21 Billion |
-26.08% |
| 2010-12-31 | CA$2.26 Billion ≈ $1.64 Billion |
+31.21% |
| 2009-12-31 | CA$1.72 Billion ≈ $1.25 Billion |
+94.13% |
| 2008-12-31 | CA$888.02 Million ≈ $642.38 Million |
+13.52% |
| 2007-12-31 | CA$782.23 Million ≈ $565.85 Million |
+21.93% |
| 2006-12-31 | CA$641.54 Million ≈ $464.08 Million |
+142.83% |
| 2005-12-31 | CA$264.19 Million ≈ $191.11 Million |
+71.07% |
| 2004-12-31 | CA$154.43 Million ≈ $111.71 Million |
+36347.59% |
| 2003-12-31 | CA$423.71K ≈ $306.50K |
-7.07% |
| 2002-12-31 | CA$455.93K ≈ $329.81K |
-21.45% |
| 2001-12-31 | CA$580.42K ≈ $419.86K |
-6.16% |
| 2000-12-31 | CA$618.52K ≈ $447.43K |
+2.57% |
| 1999-12-31 | CA$603.01K ≈ $436.21K |
+5.19% |
| 1998-12-31 | CA$573.25K ≈ $414.68K |
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Equity Component Analysis
This analysis shows how different components contribute to Wheaton Precious Metals Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 469013609400.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$4.69 Billion | 54.07% |
| Common Stock | CA$3.81 Billion | 43.90% |
| Other Comprehensive Income | CA$176.59 Million | 2.04% |
| Other Components | CA$2.00 | 0.00% |
| Total Equity | CA$8.67 Billion | 100.00% |
Wheaton Precious Metals Corp Competitors by Market Cap
The table below lists competitors of Wheaton Precious Metals Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Samsung Life
KO:032830
|
$57.08 Billion |
|
United Microelectronics Corporation
TW:2303
|
$57.62 Billion |
|
MPLX LP
NYSE:MPLX
|
$57.69 Billion |
|
Great-West Lifeco Inc.
TO:GWO
|
$57.91 Billion |
|
WW Grainger Inc
NYSE:GWW
|
$56.83 Billion |
|
Aon PLC
F:4VK
|
$56.77 Billion |
|
Bank of China Limited
F:W8V
|
$56.75 Billion |
|
PING AN INSURANC.H ADR/2
F:PZXB
|
$56.60 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Wheaton Precious Metals Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 7,259,379,000 to 8,674,692,579, a change of 1,415,313,579 (19.5%).
- Net income of 1,497,483,243 contributed positively to equity growth.
- Dividend payments of 301,555,062 reduced retained earnings.
- Share repurchases of 7,271,000 reduced equity.
- Other comprehensive income increased equity by 272,312,048.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$1.50 Billion | +17.26% |
| Dividends Paid | CA$301.56 Million | -3.48% |
| Share Repurchases | CA$7.27 Million | -0.08% |
| Other Comprehensive Income | CA$272.31 Million | +3.14% |
| Other Changes | CA$-45.66 Million | -0.53% |
| Total Change | CA$- | 19.50% |
Book Value vs Market Value Analysis
This analysis compares Wheaton Precious Metals Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 9.07x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 519.11x to 9.07x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1998-12-31 | CA$0.33 | CA$173.01 | x |
| 1999-12-31 | CA$0.35 | CA$173.01 | x |
| 2000-12-31 | CA$0.36 | CA$173.01 | x |
| 2001-12-31 | CA$0.34 | CA$173.01 | x |
| 2002-12-31 | CA$0.27 | CA$173.01 | x |
| 2003-12-31 | CA$0.25 | CA$173.01 | x |
| 2004-12-31 | CA$0.92 | CA$173.01 | x |
| 2005-12-31 | CA$1.57 | CA$173.01 | x |
| 2006-12-31 | CA$2.76 | CA$173.01 | x |
| 2007-12-31 | CA$3.17 | CA$173.01 | x |
| 2008-12-31 | CA$3.56 | CA$173.01 | x |
| 2009-12-31 | CA$5.57 | CA$173.01 | x |
| 2010-12-31 | CA$6.45 | CA$173.01 | x |
| 2011-12-31 | CA$4.70 | CA$173.01 | x |
| 2012-12-31 | CA$8.73 | CA$173.01 | x |
| 2013-12-31 | CA$9.44 | CA$173.01 | x |
| 2014-12-31 | CA$10.09 | CA$173.01 | x |
| 2015-12-31 | CA$10.48 | CA$173.01 | x |
| 2016-12-31 | CA$11.47 | CA$173.01 | x |
| 2017-12-31 | CA$11.07 | CA$173.01 | x |
| 2018-12-31 | CA$11.65 | CA$173.01 | x |
| 2019-12-31 | CA$11.92 | CA$173.01 | x |
| 2020-12-31 | CA$12.70 | CA$173.01 | x |
| 2021-12-31 | CA$13.85 | CA$173.01 | x |
| 2022-12-31 | CA$14.85 | CA$173.01 | x |
| 2023-12-31 | CA$15.40 | CA$173.01 | x |
| 2024-12-31 | CA$15.99 | CA$173.01 | x |
| 2025-12-31 | CA$19.08 | CA$173.01 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Wheaton Precious Metals Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.26%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 63.58%
- • Asset Turnover: 0.26x
- • Equity Multiplier: 1.06x
- Recent ROE (17.26%) is above the historical average (7.12%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 1.07% | 0.96% | 1.00x | 1.11x | CA$-55.26K |
| 2001 | -1.20% | -1.21% | 0.92x | 1.08x | CA$-65.01K |
| 2002 | -26.54% | -21.51% | 1.14x | 1.08x | CA$-166.61K |
| 2003 | 12.99% | 7.59% | 1.42x | 1.20x | CA$12.65K |
| 2004 | -0.10% | 0.00% | 0.00x | 1.02x | CA$-15.59 Million |
| 2005 | 9.57% | 35.67% | 0.27x | 1.01x | CA$-1.13 Million |
| 2006 | 13.28% | 53.75% | 0.24x | 1.03x | CA$21.07 Million |
| 2007 | 11.74% | 52.36% | 0.15x | 1.54x | CA$13.64 Million |
| 2008 | 1.94% | 10.35% | 0.13x | 1.43x | CA$-71.55 Million |
| 2009 | 6.84% | 49.28% | 0.11x | 1.30x | CA$-54.47 Million |
| 2010 | 12.82% | 68.52% | 0.16x | 1.16x | CA$63.90 Million |
| 2011 | 32.90% | 75.35% | 0.33x | 1.34x | CA$382.83 Million |
| 2012 | 18.86% | 68.98% | 0.27x | 1.03x | CA$275.33 Million |
| 2013 | 11.15% | 53.15% | 0.16x | 1.30x | CA$38.84 Million |
| 2014 | 5.51% | 32.22% | 0.13x | 1.28x | CA$-163.05 Million |
| 2015 | -3.90% | -24.98% | 0.12x | 1.36x | CA$-577.12 Million |
| 2016 | 3.95% | 21.89% | 0.14x | 1.25x | CA$-298.86 Million |
| 2017 | 1.18% | 6.84% | 0.15x | 1.16x | CA$-432.26 Million |
| 2018 | 8.26% | 53.79% | 0.12x | 1.25x | CA$-90.08 Million |
| 2019 | 1.62% | 10.00% | 0.14x | 1.18x | CA$-446.45 Million |
| 2020 | 8.89% | 46.32% | 0.18x | 1.04x | CA$-63.65 Million |
| 2021 | 12.08% | 62.82% | 0.19x | 1.01x | CA$129.87 Million |
| 2022 | 9.96% | 62.83% | 0.16x | 1.01x | CA$-2.64 Million |
| 2023 | 7.70% | 52.92% | 0.14x | 1.01x | CA$-160.91 Million |
| 2024 | 7.29% | 41.19% | 0.17x | 1.02x | CA$-196.80 Million |
| 2025 | 17.26% | 63.58% | 0.26x | 1.06x | CA$630.01 Million |
Industry Comparison
This section compares Wheaton Precious Metals Corp's net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $2,627,283,631
- Average return on equity (ROE) among peers: -26.72%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Wheaton Precious Metals Corp (WPM) | CA$9.25 Billion | 1.07% | 0.07x | $56.84 Billion |
| Allied Gold Corporation (AAUC) | $416.30 Million | -27.78% | 2.17x | $3.28 Billion |
| Abcourt Mines Inc. (ABI) | $307.00K | -91.86% | 0.01x | $60.24 Million |
| Barrick Gold Corp (ABX) | $5.60 Billion | 4.09% | 0.38x | $69.18 Billion |
| American Eagle Gold Corp (AE) | $3.09 Million | -121.24% | 0.18x | $132.56 Million |
| Agnico Eagle Mines Limited (AEM) | $19.42 Billion | 9.99% | 0.48x | $85.39 Billion |
| Alamos Gold Inc (AGI) | $811.95 Million | 4.78% | 0.11x | $15.61 Billion |
| AIS Resources Ltd (AIS) | $2.11 Million | -4.60% | 0.02x | $2.79 Million |
| Alliance Mining Corp (ALM) | $-2.11 Million | 0.00% | 0.00x | $1.90 Million |
| Altamira Gold Corp (ALTA) | $12.15 Million | -9.13% | 0.05x | $37.53 Million |
| Almaden Minerals Ltd (AMM) | $9.76 Million | -31.42% | 0.05x | $24.82 Million |
About Wheaton Precious Metals Corp
Wheaton Precious Metals Corp. operates as a precious metal streaming company. It explores for gold, silver, palladium, platinum, and cobalt deposits in Canada, the United States, Mexico, Portugal, Sweden, the United Kingdom, Argentina, Chile, Brazil, Peru, Ecuador, Colombia, Côte d'Ivoire, Ethiopia, and South Africa. The company was formerly known as Silver Wheaton Corp. and changed its name to W… Read more