Wheaton Precious Metals Corp (WPM) Fair Value & Analysis
Basic Materials · US · Market cap $47.3B
Wheaton Precious Metals Corp
WPM · US
Fair value as of: Jul 17, 2026
From 26 valuation models · updated 21 days ago
Share price +12.0% over the past month.
A solid business, but screening 64% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($64.96). The favourable scenario is already priced in.
- Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($30.56 to $64.96) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.
How to read this chart
60‑month range $27.98 – $165.21 · fair‑value band $30.56 – $64.96 · the $125.30 price screens above the $45.37 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.
Analysis
Wheaton Precious Metals Corp (WPM) currently trades at $125.30, while our model-based Fair Value estimate is $45.37, implying the stock looks roughly 63.8% overvalued today. We read business quality at 66/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Wheaton Precious Metals Corp generated revenue of $2.7B at a net margin of 65.6%. Revenue grew 91.6% year over year. It earns a return on equity of 21.5%. The balance sheet holds a net cash position of $1.1B. Fundamentals as of Jul 17, 2026
Our scenario range runs from $30.56 (bear case) to $64.96 (bull case); at $125.30, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 24% below its 52-week high and 47% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 16% fair-value upside, at -64%, WPM screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings ($66.31) versus Dividend Discount ($10.69). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 48
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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 Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp. was founded in 2004 and is headquartered in Vancouver, Canada.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Wheaton Precious Metals Corp reported revenue of $2.4B in FY2025 versus $1.2B in FY2021, a compound +18.3%/yr. Reported net income was $1.5B in FY2025, compounding +18.7%/yr from FY2021.
WPM screens 64% overvalued. Compare with Newmont Corporation →
Peer Group
Gold · 259 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Gold median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Gold stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Newmont Corporation NEMCL | $112.00 | $132.73 | +19% |
| Zijin Mining Group 601899 | ¥28.36 | ¥30.58 | +8% |
| Agnico Eagle Mines Limited AEM | C$191.93 | C$154.33 | -20% |
| Barrick Mining Corporation B | $34.93 | $50.66 | +45% |
| Franco-Nevada Corporation FNV | C$284.75 | C$97.76 | -66% |
| AngloGold Ashanti plc AU | $76.35 | $88.63 | +16% |
| Gold Fields Limited GFI | $33.33 | $59.06 | +77% |
| Kinross Gold Corporation KGC | $22.57 | $34.62 | +53% |
| Northern Star Resources Limited NST | A$20.48 | A$15.98 | -22% |
| Pan American Silver Corp PAAS | C$58.54 | C$40.15 | -31% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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