RIO TINTO PLC vs WHEATON PRECIOUS METALS CORP., two Mining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Rio Tinto's clean balance sheet funds ports, rail, and pits; Wheaton's funds contracts, and the market prices the contracts at 35 times earnings against the infrastructure's 15.3. The economics of each are true to type, Wheaton netting 63.6% of its royalty revenue, Rio netting 17.8% of its industrial tonnage, with Rio's 11.1% free-cash yield tripling Wheaton's 3.7%. Returns on equity sit at 15.3% and 16.9%, a near-tie that flatters the streamer's model less than its multiple does. The pair prices matter against paper at a twenty-turn spread; the paper is elegant, but the matter is what the electricity transition actually orders by the trainload.
Comparison updated 2026-07-10.
| Metric | RIO | WPM |
|---|---|---|
| Price | $93.73 | $113.45 |
| Market cap | $152.2B | $51.5B |
| Sector | Mining | Mining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | -3.8% | — |
| P/E | 15.3 | 35.0 |
| P/B | 2.27 | 5.93 |
| P/S | 2.64 | 22.25 |
| EV/EBITDA | 9.6 | 31.8 |
| Revenue growth | -2.4% | +22.7% |
| Gross margin | — | 72.2% |
| Operating margin | 25.9% | 68.3% |
| Net margin | 17.8% | 63.6% |
| Return on equity | 15.3% | 16.9% |
| Return on assets | 8.0% | 16.1% |
| Return on invested capital | 15.7% | 15.8% |
| FCF yield | 11.1% | 3.7% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 1.44 | 7.78 |
| Altman Z (solvency) | 2.90 | 7.68 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.