• Wheaton Precious Metals average operating margin for 2023 was 47.15%, a 3.5% increase from 2022.
• Wheaton Precious Metals average operating margin for 2022 was 48.86%, a 2.9% decline from 2021.
• Wheaton Precious Metals average operating margin for 2021 was 50.32%, a 19.78% decline from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.