Wheaton Precious Metals Corp (WPM) fair value: what the stock is really worth
As of Oct 22, 2026: fair value (intrinsic value) of Wheaton Precious Metals Corp stock $88.26, price $124, upside -28.6%, quality 73 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 22, 2026.
How to read this chart
60‑month range $27.94 – $164.99 · fair‑value band $48.36 – $129.90 · the $123.53 price screens above the $88.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 22, 2026.
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Wheaton Precious Metals Corp. operates as a precious metal streaming company.
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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.
Stock analysis
Wheaton Precious Metals Corp (WPM) currently trades at $123.53, while our model-based Fair Value estimate is $88.26, 28.6% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $61.26 per share, and 0 of the 26 models we run sit above the $123.53 price.
Bear case: the Dividend Discount group reads lowest at $9.70, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $48.36 (bear) to $129.90 (bull), the price of $123.53 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 73/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
Key figures
Market cap $56.2B Large · P/E ratio 27.4 · P/S ratio 17.7 · EPS (TTM) $4.51 · Dividend yield 0.6% · Net margin 64.7% · Return on equity 23.6% · Return on assets (EBIT) 10.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 90 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 32% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 17% fair-value upside, at −29%, WPM screens richer than that median.
Fair Value models
Bear$48.36Fair Value $88.26Bull$129.90
Price $123.53 · Upside -28.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($3.07 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+83.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+30.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.5%
Start year 2020 (pandemic). Over 10 years: +13.8% a year
Revenue growth 27 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+36.1%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+28.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+27.6%
Dividend (yield on the price)0.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.23.9% vs 20.6%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.47% → 69%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+40.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+15.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +37.5% a year for the price and +12.7% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (87 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: The streaming model delivers a moderate moat through high margins and limited operational risks, yet thin evidence on most factors and ongoing gold price exposure constrain visibility.
Main risk: Gold price exposure would directly reduce the realized margins on existing streaming contracts and future deal economics.
Wheaton secures capital for miners through streaming agreements that give it rights to future output at predetermined prices, limiting operational risks. Its pipeline has grown to 20-25 opportunities while management targets 1.2 million gold-equivalent ounces annually by 2030. Our models see the stock as overvalued, so will the deal flow and organic ramps deliver more value than already reflected or will competition for assets cap the upside?
Compare Wheaton Precious Metals Corp with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Gold · 208 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside−28.6% · Below median
Profitability
Return on equity (12 months)23.6% · Above median
Return on assets16.4% · Top 25%
Net margin (12 months)64.7% · Top 25%
Operating margin (12 months)72.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)84.7% · Top 25%
Dividend yield (12 months)0.6% · Below median
Valuation Multiplesvs Gold median · lower = cheaper
P/E (12 months)27.4× · Priciest 25%
P/B6.48× · Priciest 25%
P/S (12 months)17.72× · Priciest 25%
Price / free cash flow98.0× · Priciest 25%
EV/EBITDA20.6× · Priciest 25%
PEG0.43× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 12
FUTURE (revenue growth)100· sector 100
PAST (return on equity)94· sector 36
HEALTH (low debt)100· sector 98
DIVIDEND (yield)12· sector 27
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Wheaton Precious Metals Corp (WPM) overvalued or undervalued?
As of Oct 22, 2026, our model estimates a fair value of $88.26 versus a price of $123.53, about −29% upside (overvalued).
What is the fair value of WPM?
Our model-based fair value for Wheaton Precious Metals Corp is $88.26 (as of Oct 22, 2026), built from audited fundamentals. The current price: $123.53.
What is the quality score of WPM?
Wheaton Precious Metals Corp has a Quality Score of 73/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Wheaton Precious Metals Corp (WPM)?
Our model-based price target is the fair value of $88.26 (as of Oct 22, 2026) from 26 valuation models. Cautious scenario $48.36, optimistic scenario $129.90. It is a calculation from audited fundamentals, not an analyst target.
What is the Wheaton Precious Metals Corp stock forecast for 2026?
Our models put fair value at $88.26, about −29% upside versus a price of $123.53 (overvalued). Cautious scenario $48.36, optimistic scenario $129.90. The calculation is refreshed regularly with new filings.
What is the revenue of Wheaton Precious Metals Corp (WPM)?
Wheaton Precious Metals Corp reported trailing-twelve-month revenue of about $3.2B (latest available figure, as of Oct 22, 2026).
Does Wheaton Precious Metals Corp pay a dividend?
Wheaton Precious Metals Corp currently shows a dividend yield of 0.58% relative to its recent price (as of Oct 22, 2026).
What growth is priced into Wheaton Precious Metals Corp (WPM)?
For today's price to be fair in a discounted-cash-flow model, Wheaton Precious Metals Corp would have to grow free cash flow by +40.7 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.5 % per year. As of Oct 22, 2026.
What discount rate (WACC) does the fair value of WPM use?
Our models discount Wheaton Precious Metals Corp at 9.8 %: a base by market capitalisation (large), damped by beta 1.24, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Wheaton Precious Metals Corp that is +40.7 % per year a year over ten years, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Wheaton Precious Metals Corp (WPM) delivered so far?
Over the past 5 years revenue at Wheaton Precious Metals Corp grew +16.5 % a year. The price currently implies +40.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Wheaton Precious Metals Corp (WPM) growing?
The median revenue growth in the sector is +9.5 % a year. That is the yardstick for the growth priced into Wheaton Precious Metals Corp (+40.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Wheaton Precious Metals Corp (WPM)?
The free-cash-flow yield on the price is 1.02 %: that much free cash flow Wheaton Precious Metals Corp produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Wheaton Precious Metals Corp (WPM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wheaton Precious Metals Corp it is $88.26 per share (as of Oct 22, 2026), against a price of $123.53. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Wheaton Precious Metals Corp stock overvalued or undervalued in 2026?
As of Oct 22, 2026, WPM trades above its calculated fair value: price $123.53, fair value $88.26, a gap of about −29% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WPM?
No. The price is what the market pays today ($123.53); the fair value is what the company's own numbers justify ($88.26). For Wheaton Precious Metals Corp the two are $35.27 per share apart. That gap is exactly why we show both numbers side by side.
How much is Wheaton Precious Metals Corp worth?
The market values Wheaton Precious Metals Corp at about $56.2B (market capitalisation, as of Oct 22, 2026). Per share that is $123.53; our models calculate a fair value of $88.26 per share.
What do the bullish and bearish scenarios say about WPM?
Our models span a range for Wheaton Precious Metals Corp: cautious scenario $48.36, base $88.26, optimistic $129.90 per share (as of Oct 22, 2026, price $123.53). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WPM?
Wheaton Precious Metals Corp trades at a price-to-earnings ratio of 27.4 (as of Oct 22, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $88.26 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 32.6 (reported for FY2025: 37.6). Other multiples: PEG 0.4, P/B 6.5, P/S 17.7, EV/EBITDA 20.6.
What is the PEG ratio of WPM?
The PEG ratio of Wheaton Precious Metals Corp is 0.43 (P/E divided by earnings growth, as of Oct 22, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Wheaton Precious Metals Corp (WPM)?
Balance-sheet figures for Wheaton Precious Metals Corp (as of Oct 22, 2026): return on equity 23.6%. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is WPM from its 52-week high?
Wheaton Precious Metals Corp trades at $123.53, about 25% below its 52-week high of $164.99 and 32% above the low of $93.81 (as of Oct 22, 2026). Distance from the high says nothing about value: that is what the fair value of $88.26 is for.
Which stocks are comparable to Wheaton Precious Metals Corp?
From the same area (Basic Materials) we also value Newmont Corporation, Zijin Mining Group, Agnico Eagle Mines Limited, AngloGold Ashanti plc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Wheaton Precious Metals Corp stock attractive at the current price?
The data as of Oct 22, 2026: price $123.53, calculated fair value $88.26 (−29%), Quality Score 73/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WPM calculated?
We run Wheaton Precious Metals Corp through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $88.26, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 12.3 % above its aggregate fair value. Wheaton Precious Metals Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Wheaton Precious Metals Corp (WPM)?
The closing price on Oct 22, 2026 was $123.53. Our model-based fair value is $88.26, about −29% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wheaton Precious Metals Corp right now?
A high-quality business (quality 73/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The model range is unusually wide ($48.36 to $129.90). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Where does the earnings growth of Wheaton Precious Metals Corp (WPM) come from?
Earnings per share at Wheaton Precious Metals Corp grew +15.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.7 %, EBIT margin +4.4 %, tax rate −1.5 %, residual (interest, one-offs) +5.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Wheaton Precious Metals Corp
How large is the market capitalisation of Wheaton Precious Metals Corp (WPM)?
The market capitalisation of Wheaton Precious Metals Corp is $56.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Wheaton Precious Metals Corp (WPM)?
The price-to-sales ratio of Wheaton Precious Metals Corp is 17.7 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Wheaton Precious Metals Corp (WPM)?
Earnings per share at Wheaton Precious Metals Corp are $4.51 (price ÷ EPS = P/E 27.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Wheaton Precious Metals Corp (WPM)?
The dividend yield of Wheaton Precious Metals Corp is 0.6% (payout 13.9%, on adjusted earnings, reported 16.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Wheaton Precious Metals Corp (WPM)?
The net margin of Wheaton Precious Metals Corp is 64.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Wheaton Precious Metals Corp (WPM)?
The return on equity (ROE) of Wheaton Precious Metals Corp is 23.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Wheaton Precious Metals Corp (WPM)?
On an EBIT basis the return on assets of Wheaton Precious Metals Corp is 10.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Wheaton Precious Metals Corp (WPM)?
The operating margin of Wheaton Precious Metals Corp is 72.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wheaton Precious Metals Corp (WPM)?
Revenue at Wheaton Precious Metals Corp is growing +84.7% versus a year earlier (3y avg +30.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Wheaton Precious Metals Corp (WPM)?
Earnings per share at Wheaton Precious Metals Corp are growing +85.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Wheaton Precious Metals Corp (WPM) hold?
Wheaton Precious Metals Corp holds more cash than debt, $1.1B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Oct 22, 2026