Start with its own history
At 30.51×, WPM is 48.8% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · WPMGoldUpdated Nov 5, 2026
Wheaton Precious Metals Corp. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
30.51×
48.8% belowthe 10-year annual average
Share price131.5
÷Earnings per share4.31
Price and EPS in quote currency. Calculation details
Investors are paying 30.51 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 59.59×
3-year average41.71×3 positive annual observations
5-year average35.71×5 positive annual observations
10-year average59.59×10 positive annual observations
Peer median · TTM24.78×5 peers with positive P/E
Historical P/E ratios
Annual period-end data · 21 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 35.61× | -25.9% |
| Dec 31, 2024 | 48.07× | +15.9% |
| Dec 31, 2023 | 41.46× | +50.7% |
| Dec 31, 2022 | 27.52× | +6.4% |
| Dec 31, 2021 | 25.86× | -26.3% |
| Dec 31, 2020 | 35.08× | -76.4% |
| Dec 31, 2019 | 148.75× | +631.2% |
| Dec 31, 2018 | 20.34× | -88.0% |
View all 21 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 170.23× | +296.5% |
| Dec 31, 2016 | 42.93× | N/M |
| Dec 31, 2015 | N/M | N/M |
| Dec 31, 2014 | 36.30× | +90.6% |
| Dec 31, 2013 | 19.05× | -12.4% |
| Dec 31, 2012 | 21.73× | +17.1% |
| Dec 31, 2011 | 18.56× | -60.1% |
| Dec 31, 2010 | 46.48× | +20.7% |
| Dec 31, 2009 | 38.51× | -58.5% |
| Dec 31, 2008 | 92.71× | +124.0% |
| Dec 31, 2007 | 41.39× | +58.0% |
| Dec 31, 2006 | 26.20× | -32.2% |
| Dec 31, 2005 | 38.67× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How WPM compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 WPM This stockWheaton Precious Metals Corp. | 30.51× |
 RGLDRoyal Gold, Inc. | 24.78× |
 FNVFranco-Nevada Corporation | 31.61× |
 TFPMTriple Flag Precious Metals Corp. | 15.00× |
 GROYGold Royalty Corp. | 412.86× |
 OROR Royalties Inc. | 22.74× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does WPM’s P/E tell you?
Compare like with like
The median of the 5 positive peer ratios above is 24.78×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take WPM into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("WPM", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 131.5 ÷ EPS 4.31 = 30.51×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
WPM P/E ratio: common questions
The essentials behind the numbers.
Wheaton Precious Metals Corp.'s current P/E is 30.51× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.