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Wheaton Precious Metals

TSX:WPM
Snowflake Description

Excellent balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WPM
TSX
CA$14B
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The last earnings update was 42 days ago. More info.


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WPM Share Price and Events
7 Day Returns
3%
TSX:WPM
3.6%
CA Metals and Mining
1.3%
CA Market
1 Year Returns
8.3%
TSX:WPM
-6.6%
CA Metals and Mining
-2%
CA Market
WPM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Wheaton Precious Metals (WPM) 3% 16.5% -2.4% 8.3% 17.6% 15.9%
CA Metals and Mining 3.6% 8.7% 0.5% -6.6% -13.2% -18.7%
CA Market 1.3% -0.1% 0.2% -2% 12% 3.1%
1 Year Return vs Industry and Market
  • WPM outperformed the Metals and Mining industry which returned -6.6% over the past year.
  • WPM outperformed the Market in Canada which returned -2% over the past year.
Price Volatility
WPM
Industry
5yr Volatility vs Market

Value

 Is Wheaton Precious Metals undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Wheaton Precious Metals to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Wheaton Precious Metals.

TSX:WPM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:WPM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.035 (1 + (1- 26.5%) (11.3%))
1.081
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.081 * 5.96%)
8.39%

Discounted Cash Flow Calculation for TSX:WPM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Wheaton Precious Metals is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:WPM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.39%)
2019 460.75 Analyst x8 425.08
2020 443.00 Analyst x8 377.07
2021 591.60 Analyst x5 464.57
2022 499.00 Analyst x1 361.52
2023 612.00 Analyst x1 409.07
2024 648.69 Est @ 6% 400.03
2025 679.71 Est @ 4.78% 386.71
2026 706.43 Est @ 3.93% 370.80
2027 729.99 Est @ 3.34% 353.51
2028 751.30 Est @ 2.92% 335.66
Present value of next 10 years cash flows $3,884.02
TSX:WPM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $751.30 × (1 + 1.95%) ÷ (8.39% – 1.95%)
$11,886.84
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $11,886.84 ÷ (1 + 8.39%)10
$5,310.74
TSX:WPM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,884.02 + $5,310.74
$9,194.76
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $9,194.76 / 445.60
$20.63
TSX:WPM Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:WPM)
1.335
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $20.63 x 1.335
CA$27.55
Value per share (CAD) From above. CA$27.55
Current discount Discount to share price of CA$31.49
= -1 x (CA$31.49 - CA$27.55) / CA$27.55
-14.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Wheaton Precious Metals is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Wheaton Precious Metals's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Wheaton Precious Metals's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:WPM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.94
TSX:WPM Share Price ** TSX (2019-06-19) in CAD CA$31.49
TSX:WPM Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.749 $23.59
Canada Metals and Mining Industry PE Ratio Median Figure of 111 Publicly-Listed Metals and Mining Companies 15.61x
Canada Market PE Ratio Median Figure of 543 Publicly-Listed Companies 15.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Wheaton Precious Metals.

TSX:WPM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:WPM Share Price ÷ EPS (both in USD)

= 23.59 ÷ 0.94

25.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Wheaton Precious Metals is overvalued based on earnings compared to the CA Metals and Mining industry average.
  • Wheaton Precious Metals is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Wheaton Precious Metals's expected growth come at a high price?
Raw Data
TSX:WPM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
-20.6%per year
Canada Metals and Mining Industry PEG Ratio Median Figure of 36 Publicly-Listed Metals and Mining Companies 0.74x
Canada Market PEG Ratio Median Figure of 248 Publicly-Listed Companies 1.15x

*Line of best fit is calculated by linear regression .

TSX:WPM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.14x ÷ -20.6%

-1.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Wheaton Precious Metals earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Wheaton Precious Metals's assets?
Raw Data
TSX:WPM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $11.74
TSX:WPM Share Price * TSX (2019-06-19) in CAD CA$31.49
TSX:WPM Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.749 $23.59
Canada Metals and Mining Industry PB Ratio Median Figure of 1,086 Publicly-Listed Metals and Mining Companies 1.31x
Canada Market PB Ratio Median Figure of 2,417 Publicly-Listed Companies 1.41x
TSX:WPM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:WPM Share Price ÷ Book Value per Share (both in USD)

= 23.59 ÷ 11.74

2.01x

* Primary Listing of Wheaton Precious Metals.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Wheaton Precious Metals is overvalued based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Wheaton Precious Metals's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Wheaton Precious Metals has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Wheaton Precious Metals expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-20.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Wheaton Precious Metals expected to grow at an attractive rate?
  • Wheaton Precious Metals's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Wheaton Precious Metals's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • Wheaton Precious Metals's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:WPM Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:WPM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts -20.6%
TSX:WPM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 5.2%
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 28.3%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
Canada Market Earnings Growth Rate Market Cap Weighted Average 14.6%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:WPM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:WPM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,029 623 -213 2
2022-12-31 1,031 621 308 2
2021-12-31 980 611 323 7
2020-12-31 938 559 274 11
2019-12-31 862 505 233 11
TSX:WPM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 820 470 416
2018-12-31 794 477 427
2018-09-30 840 534 283
2018-06-30 857 555 315
2018-03-31 845 544 65
2017-12-31 843 539 58
2017-09-30 859 548 206
2017-06-30 889 581 223
2017-03-31 902 590 215
2016-12-31 892 584 195
2016-09-30 834 543 15
2016-06-30 754 481 -164

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Wheaton Precious Metals's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Wheaton Precious Metals's revenue is expected to grow by 5.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:WPM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Wheaton Precious Metals Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:WPM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 -0.49 0.79 -1.76 2.00
2022-12-31 0.70 0.74 0.65 2.00
2021-12-31 0.79 1.01 0.63 5.00
2020-12-31 0.66 0.80 0.56 6.00
2019-12-31 0.54 0.62 0.48 7.00
TSX:WPM Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.94
2018-12-31 0.96
2018-09-30 0.64
2018-06-30 0.71
2018-03-31 0.15
2017-12-31 0.13
2017-09-30 0.47
2017-06-30 0.50
2017-03-31 0.49
2016-12-31 0.45
2016-09-30 0.04
2016-06-30 -0.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Wheaton Precious Metals is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Wheaton Precious Metals's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Wheaton Precious Metals has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Wheaton Precious Metals performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Wheaton Precious Metals's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Wheaton Precious Metals's year on year earnings growth rate has been positive over the past 5 years.
  • Wheaton Precious Metals's 1-year earnings growth exceeds its 5-year average (544.5% vs 12%)
  • Wheaton Precious Metals's earnings growth has exceeded the CA Metals and Mining industry average in the past year (544.5% vs -25.1%).
Earnings and Revenue History
Wheaton Precious Metals's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Wheaton Precious Metals Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:WPM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 819.81 416.34 54.73
2018-12-31 794.01 427.12 47.98
2018-09-30 839.97 282.58 36.49
2018-06-30 857.23 315.13 35.38
2018-03-31 844.52 64.60 32.48
2017-12-31 843.22 57.70 31.56
2017-09-30 859.16 206.28 27.07
2017-06-30 889.33 222.69 29.05
2017-03-31 902.00 215.38 29.48
2016-12-31 891.56 195.14 31.51
2016-09-30 833.56 15.01 36.71
2016-06-30 753.61 -163.90 34.29
2016-03-31 705.69 -170.48 32.15
2015-12-31 648.69 -162.04 29.65
2015-09-30 588.57 59.25 28.79
2015-06-30 601.17 159.67 30.08
2015-03-31 585.30 169.44 32.38
2014-12-31 620.18 199.83 34.35
2014-09-30 647.22 241.70 30.83
2014-06-30 647.77 314.26 34.31
2014-03-31 666.09 321.88 33.00
2013-12-31 706.47 375.50 32.36
2013-09-30 826.30 459.34 38.70
2013-06-30 821.17 501.98 34.32
2013-03-31 855.68 572.28 32.95
2012-12-31 849.56 586.04 30.84
2012-09-30 754.19 553.04 26.41
2012-06-30 778.11 568.38 26.51

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Wheaton Precious Metals has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Wheaton Precious Metals used its assets less efficiently than the CA Metals and Mining industry average last year based on Return on Assets.
  • Wheaton Precious Metals's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Wheaton Precious Metals's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Wheaton Precious Metals has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Wheaton Precious Metals's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Wheaton Precious Metals's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Wheaton Precious Metals is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Wheaton Precious Metals's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Wheaton Precious Metals's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Wheaton Precious Metals Company Filings, last reported 2 months ago.

TSX:WPM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 5,225.95 1,188.07 125.78
2018-12-31 5,171.92 1,264.00 75.77
2018-09-30 5,187.19 1,380.50 119.37
2018-06-30 5,234.62 956.50 92.66
2018-03-31 4,925.54 663.00 115.57
2017-12-31 4,899.66 770.00 98.52
2017-09-30 5,067.31 854.00 69.91
2017-06-30 5,030.73 953.00 76.58
2017-03-31 4,975.95 1,064.00 114.75
2016-12-31 4,939.99 1,193.00 124.30
2016-09-30 4,963.18 1,345.00 125.55
2016-06-30 4,839.23 706.00 124.49
2016-03-31 4,156.39 1,371.00 86.78
2015-12-31 4,150.74 1,466.00 103.30
2015-09-30 4,342.82 647.00 80.51
2015-06-30 4,467.70 715.00 71.89
2015-03-31 4,427.50 800.00 88.01
2014-12-31 3,628.74 998.52 308.10
2014-09-30 3,600.32 998.25 233.00
2014-06-30 3,500.20 997.99 139.20
2014-03-31 3,431.68 997.75 81.97
2013-12-31 3,366.55 998.14 95.82
2013-09-30 3,320.31 1,039.95 61.96
2013-06-30 3,217.15 1,142.80 36.26
2013-03-31 3,225.78 1,090.00 75.54
2012-12-31 3,107.07 50.06 778.22
2012-09-30 2,975.49 57.20 555.06
2012-06-30 2,844.68 64.34 1,102.12
  • Wheaton Precious Metals's level of debt (22.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (29.1% vs 22.6% today).
  • Debt is well covered by operating cash flow (39.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.2x coverage).
X
Financial health checks
We assess Wheaton Precious Metals's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Wheaton Precious Metals has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Wheaton Precious Metals's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.53%
Current annual income from Wheaton Precious Metals dividends. Estimated to be 1.61% next year.
If you bought CA$2,000 of Wheaton Precious Metals shares you are expected to receive CA$31 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Wheaton Precious Metals's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.14%).
  • Wheaton Precious Metals's dividend is below the markets top 25% of dividend payers in Canada (5.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:WPM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 335 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:WPM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.42 2.00
2022-12-31 0.41 2.00
2021-12-31 0.38 5.00
2020-12-31 0.38 8.00
2019-12-31 0.36 7.00
TSX:WPM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-08 0.360 1.679
2018-11-14 0.360 1.798
2018-08-14 0.360 2.122
2018-05-10 0.360 1.663
2018-03-21 0.360 1.723
2017-11-09 0.360 1.733
2017-05-09 0.280 1.401
2017-03-21 0.280 1.357
2016-11-09 0.240 1.209
2016-08-10 0.200 0.770
2016-05-09 0.200 0.895
2016-03-16 0.200 1.122
2015-11-03 0.200 1.521
2015-08-11 0.200 1.554
2015-05-07 0.200 1.223
2015-03-18 0.200 1.020
2014-03-21 0.450 2.046
2014-03-20 0.450 1.793
2013-04-02 0.350 1.524
2013-03-21 0.350 1.128
2012-11-05 0.280 0.800
2012-08-10 0.400 1.086
2012-08-09 0.400 1.307
2012-05-14 0.360 1.346
2012-03-22 0.360 1.198
2011-11-09 0.360 1.084
2011-08-08 0.120 0.343
2011-05-06 0.120 0.344
2011-03-03 0.120 0.287

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Wheaton Precious Metals has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Wheaton Precious Metals only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Wheaton Precious Metals's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Wheaton Precious Metals's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Wheaton Precious Metals afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Wheaton Precious Metals has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Wheaton Precious Metals's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Randy V. Smallwood
COMPENSATION $4,389,410
AGE 53
TENURE AS CEO 8.2 years
CEO Bio

Mr. Randy V. J. Smallwood, P. Eng., serves as Director at Defiance Silver Corporation since December 31, 2018. He is a Co-Founder of Wheaton Precious Metals Corp. formerly known as Silver Wheaton Corp., and has been President since January 1, 2010 and Chief Executive Officer since April 11, 2011. Mr. Smallwood served as a Director of Project Development at GoldCorp. Inc., from 2002 to 2007 and Wheaton Precious Metals Corp. formerly known as Silver Wheaton Corp., from its formation in 2004 to 2007. He served as an Executive Vice President of Corporate Development of Wheaton Precious Metals Corp. formerly known as Silver Wheaton Corp. from February 2007 to January 1, 2010. He has a wealth of mineral exploration, mine development and mine operation knowledge and has Extensive experience in advanced stage project evaluation and acquisitions, feasibility studies and mine development. Mr. Smallwood served as a Vice President of Corporate Development of Wheaton Precious Metals Corp. formerly known as Silver Wheaton Corp. since April 2005. He served as a Director of Project Development of Wheaton River Minerals Ltd. from 2002 to March 2005 and its Project Manager from 1999 to 2002. He worked with Homestake Mining Company, Teck Corp. and Westmin Resources. He was a Director at Valoro Resources Inc. (formerly, Geologix Explorations Inc.) from May 11, 2005 to December 31, 2018. He has been a Director of Wheaton Precious Metals Corp. formerly known as Silver Wheaton Corp. since May 6, 2011 and Riva Gold Corp. since November 29, 2010. He has been a Director of Tigray Resources Inc since September 23, 2010. He served as a Member of Advisory Board of Marlin Gold Mining Ltd. Mr. Smallwood served as a Member of Advisory Board at BCGold Corp. since October 2006 until April 21, 2016. He served as an Independent Director of Castle Peak Mining Ltd from March 4, 2011 to November 2012. He served as a Director of Canaco Resources Inc. since July 27, 2005 and Ventana Gold Corp. since November 2008. Mr. Smallwood holds B.A.Sc. in Geology in 1995 from University of British Columbia and Professional Engineer in 2000 from BC Association of Professional Engineers & Geoscientists. He holds Mine Engineering Diploma from the British Columbia Institute of Technology.

CEO Compensation
  • Randy V.'s compensation has been consistent with company performance over the past year, both up more than 20%.
  • Randy V.'s remuneration is lower than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Wheaton Precious Metals management team in years:

7.8
Average Tenure
51
Average Age
  • The average tenure for the Wheaton Precious Metals management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Randy V. Smallwood

TITLE
President
COMPENSATION
$4M
AGE
53
TENURE
8.2 yrs

Gary Brown

TITLE
Senior VP & CFO
COMPENSATION
$2M
AGE
51
TENURE
10.9 yrs

Curt Bernardi

TITLE
Senior VP of Legal & Corporate Secretary
COMPENSATION
$2M
AGE
50

Haytham Hodaly

TITLE
Senior Vice President of Corporate Development
COMPENSATION
$2M
TENURE
7.4 yrs

Nikola Tatarkin

TITLE
President of Wheaton Precious Metals International Ltd
COMPENSATION
$1M

Neil Burns

TITLE
Vice President of Technical Services
TENURE
7.4 yrs

Patrick Drouin

TITLE
Senior Vice President of Investor Relations
COMPENSATION
$1M
TENURE
5.3 yrs

Jamie Beirnes

TITLE
VP & Controller
TENURE
10.5 yrs
Board of Directors Tenure

Average tenure and age of the Wheaton Precious Metals board of directors in years:

9.6
Average Tenure
60
Average Age
  • The tenure for the Wheaton Precious Metals board of directors is about average.
Board of Directors

Doug Holtby

TITLE
Chairman of the Board
COMPENSATION
$320K
AGE
71
TENURE
10.4 yrs

Randy V. Smallwood

TITLE
President
COMPENSATION
$4M
AGE
53
TENURE
8.1 yrs

R. Gillin

TITLE
Director
COMPENSATION
$240K
AGE
69
TENURE
14.7 yrs

John Brough

TITLE
Director
COMPENSATION
$228K
AGE
71
TENURE
14.7 yrs

George Brack

TITLE
Director
COMPENSATION
$211K
AGE
57
TENURE
9.6 yrs

Eduardo Arellano

TITLE
Director
COMPENSATION
$216K
AGE
73
TENURE
14.5 yrs

Chantal Gosselin

TITLE
Director
COMPENSATION
$208K
AGE
48
TENURE
5.6 yrs

Chuck Jeannes

TITLE
Director
COMPENSATION
$204K
AGE
60
TENURE
2.6 yrs

Marilyn Schonberner

TITLE
Director
COMPENSATION
$238K
AGE
58
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • Wheaton Precious Metals insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
29. Mar 19 Sell Nikola Tatarkin Individual 26. Mar 19 26. Mar 19 -110,000 CA$33.33 CA$-3,663,763
28. Mar 19 Sell Gary Brown Individual 25. Mar 19 25. Mar 19 -86,677 CA$33.38 CA$-2,890,457
22. Dec 18 Buy Gary Brown Individual 21. Dec 18 21. Dec 18 3,000 CA$25.63 CA$76,887
20. Aug 18 Buy Chantal Gosselin Individual 20. Aug 18 20. Aug 18 400 CA$24.33 CA$9,732
X
Management checks
We assess Wheaton Precious Metals's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Wheaton Precious Metals has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Have Insiders Been Selling Wheaton Precious Metals Corp. (TSE:WPM) Shares?

As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' See our latest analysis for Wheaton Precious Metals The Last 12 Months Of Insider Transactions At Wheaton Precious Metals The President of Wheaton Precious Metals International Ltd, Nikola Tatarkin, made the biggest insider sale in the last 12 months. … All up, insiders sold more shares in Wheaton Precious Metals than they bought, over the last year. … Insiders at Wheaton Precious Metals Have Sold Stock Recently The last three months saw significant insider selling at Wheaton Precious Metals.

Simply Wall St -

Estimating The Intrinsic Value Of Wheaton Precious Metals Corp. (TSE:WPM)

Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $458.63 $467.57 $595.40 $642.00 $689.50 $727.99 $760.68 $789.04 $814.24 $837.20 Growth Rate Estimate Source Analyst x8 Analyst x7 Analyst x5 Analyst x2 Analyst x2 Est @ 5.58% Est @ 4.49% Est @ 3.73% Est @ 3.19% Est @ 2.82% Present Value ($, Millions) Discounted @ 8.66% $422.09 $396.04 $464.13 $460.59 $455.25 $442.37 $425.41 $406.12 $385.70 $364.98 Present Value of 10-year Cash Flow (PVCF)= $4.22b "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … TSX:WPM Intrinsic value, May 29th 2019 Important assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

Simply Wall St -

A Note On Wheaton Precious Metals Corp.'s (TSE:WPM) ROE and Debt To Equity

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Wheaton Precious Metals: 8.0% = US$416m ÷ US$5.2b (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does Wheaton Precious Metals Have A Good Return On Equity? … Combining Wheaton Precious Metals's Debt And Its 8.0% Return On Equity While Wheaton Precious Metals does have some debt, with debt to equity of just 0.23, we wouldn't say debt is excessive.

Simply Wall St -

What Kind Of Investor Owns Most Of Wheaton Precious Metals Corp. (TSE:WPM)?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

Is Wheaton Precious Metals Corp. (TSE:WPM) Excessively Paying Its CEO?

First, this article will compare CEO compensation with compensation at other large companies. … is worth CA$13b, and total annual CEO compensation is US$3.6m. … While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at US$791k.

Simply Wall St -

Has Wheaton Precious Metals Corp. (TSE:WPM) Got Enough Cash?

With a market capitalization of CA$14b, Wheaton Precious Metals Corp. … Using the most recent data for WPM, I will determine its financial status based on its solvency and liquidity, and assess whether the stock is a safe investment. … View our latest analysis for Wheaton Precious Metals?

Simply Wall St -

Wheaton Precious Metals Corp. (TSE:WPM): Ex-Dividend Is In 4 Days

Investors who want to cash in on Wheaton Precious Metals Corp.'s (TSE:WPM) upcoming dividend of US$0.09 per share have only 4 days left to buy the shares before its ex-dividend date, 04 April 2019, in time for dividends payable on the 18 April 2019. … Below, I will explain how holding Wheaton Precious Metals can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … Has its dividend been stable over the past (i.e. no missed payments or significant payout cuts)?

Simply Wall St -

The Wheaton Precious Metals (TSE:WPM) Share Price Is Up 31% And Shareholders Are Holding On

(TSE:WPM) shareholders have seen the share price rise 31% over three years, well in excess of the market return (15%, not including dividends). … During three years of share price growth, Wheaton Precious Metals achieved compound earnings per share growth of 61% per year. … It might be well worthwhile taking a look at our free report on Wheaton Precious Metals's earnings, revenue and cash flow.

Simply Wall St -

Should You Be Tempted To Sell Wheaton Precious Metals Corp. (TSE:WPM) Because Of Its P/E Ratio?

We'll show how you can use Wheaton Precious Metals Corp.'s (TSE:WPM) P/E ratio to inform your assessment of the investment opportunity. … How Do I Calculate Wheaton Precious Metals's Price To Earnings Ratio … Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS)

Simply Wall St -

Should You Like Wheaton Precious Metals Corp.’s (TSE:WPM) High Return On Capital Employed?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Company Info

Description

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. 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.

Details
Name: Wheaton Precious Metals Corp.
WPM
Exchange: TSX
Founded: 2004
CA$14,032,055,726
445,603,548
Website: http://www.wheatonpm.com
Address: Wheaton Precious Metals Corp.
1021 West Hastings Street,
Suite 3500,
Vancouver,
British Columbia, V6E 0C3,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX WPM Common Shares The Toronto Stock Exchange CA CAD 18. Oct 2004
NYSE WPM Common Shares New York Stock Exchange US USD 18. Oct 2004
DB SII Common Shares Deutsche Boerse AG DE EUR 18. Oct 2004
XTRA SII Common Shares XETRA Trading Platform DE EUR 18. Oct 2004
LSE 0VOT Common Shares London Stock Exchange GB CAD 18. Oct 2004
SWX SLW Common Shares SIX Swiss Exchange CH CHF 18. Oct 2004
Number of employees
Current staff
Staff numbers
39
Wheaton Precious Metals employees.
Industry
Silver
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/19 23:58
End of day share price update: 2019/06/19 00:00
Last estimates confirmation: 2019/06/17
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.