Wheaton Precious Metals posted a net profit margin of 77.1% in Q3 2025.
Most people don't know what that means in context.
Here is the comparison:
Apple's net profit margin: approximately 26%.
Google's net profit margin: approximately 29%.
Microsoft's net profit margin: approximately 36%.
Wheaton Precious Metals: 77.1%.
A mining company out-margining every major technology company on Earth.
Here is why:
They do not mine anything.
They signed contracts years ago to buy gold at $650/oz and silver at $12.50/oz — fixed forever.
When gold hits $4,500 and silver hits $76, every dollar above those fixed costs is pure profit.
In Q1 2026 they generated $901 million in revenue and $582 million in net earnings.
$WPM