WPM
Wheaton Precious Metals Corp.
Is WPM Halal?
Precious metals streaming — halal profit-sharing.
What You Should Know
Streaming agreements are partnership structures, not interest loans. Its March 31, 2026 Q1 filing reports $9,846.195 million of assets, no identified interest-bearing debt, $2,164.505 million of cash, $18.039 million of receivables and $901.469 million of quarterly revenue. Debt/assets is 0.00%, liquidity/assets is 21.98% and receivables-plus-cash/assets is 22.17%; income and activity allocation remain incomplete. Largest precious metals streaming company.
⚠️ Concerns
- •Silver price volatility
- •Operator and jurisdiction concentration
Current quantitative Sharia screen
Based on 6-K figures for the period ended 2026-03-31; calculated 2026-07-15.
0 / 9,846.195
2,164.505 / 9,846.195
2,182.544 / 9,846.195
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 0.00%, liquidity/assets is 21.98% and receivables-plus-cash/assets is 22.17%; examined financial ratios pass, but the income and activity numerators remain incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables-plus-cash are below the examined total-assets limits; activity allocation remains incomplete. This is not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and identifiable conventional cash are below the examined Malaysia limits; activity allocation remains incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; filing-based asset ratios remain documented.
Business-activity disclosure
Wheaton finances and receives precious metals through streaming agreements. The streaming model is retained as generally permissible, while contract structure, operator activity and non-gold metal allocation require qualified review.
Limitation: The filing does not provide a universal prohibited-revenue numerator across metals, operators and streaming contracts.
Purification
Wheaton does not separately disclose a scholar-approved non-compliant income numerator or purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Wheaton Precious Metals' March 31, 2026 Q1 results filed with its Form 6-K.
- The condensed Q1 balance sheet does not present interest-bearing borrowing; debt is recorded as zero pending a newer filing that identifies one.
- Cash and cash equivalents are $2,164.505 million and accounts receivable are $18.039 million. Long-term equity investments are not counted as interest-bearing securities.
- Quarterly streaming revenue is $901.469 million. The filing does not separately disclose a scholar-universal non-compliant income numerator.
- Precious-metals streaming is retained as generally permissible qualitative activity, while contract, operator and silver/PGM allocation require review.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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