Peabody Energy (BTU)


Market Price (7/25/2026): $22.8 | Market Cap: $2.8 BilSector: Energy | Industry: Coal & Consumable Fuels

Peabody Energy (BTU)


Market Price (7/25/2026): $22.8
Market Cap: $2.8 Bil
Sector: Energy
Industry: Coal & Consumable Fuels

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -32%

Megatrend and thematic drivers
Megatrends include Industrial Raw Materials, Global Energy Security, and Energy Transition & Decarbonization. Themes include Metallurgical Coal for Steel Production, Show more.

Weak multi-year price returns
2Y Excs Rtn is -33%, 3Y Excs Rtn is -52%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -89 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.3%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.0%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%

Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.9%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.3%

Key risks
BTU key risks include [1] execution challenges and prolonged negative free cash flow associated with its strategic pivot to metallurgical coal, Show more.

0 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -32%
1 Megatrend and thematic drivers
Megatrends include Industrial Raw Materials, Global Energy Security, and Energy Transition & Decarbonization. Themes include Metallurgical Coal for Steel Production, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -33%, 3Y Excs Rtn is -52%
3 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -89 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.3%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.0%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%
6 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.9%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.3%
8 Key risks
BTU key risks include [1] execution challenges and prolonged negative free cash flow associated with its strategic pivot to metallurgical coal, Show more.

BTU in ETFs

Weight = BTU's share of each fund

VTI0.00%
ITOT0.00%
IWM0.09%
IJR0.15%
VYM0.01%
VB0.03%
VIOV0.30%
SLYV0.29%
+11 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/14/2026

Peabody Energy (BTU) stock has lost about 30% since 3/31/2026 because of the following key factors:

1. Operational Setbacks and Production Guidance Cuts at the Centurion Mine.

Peabody Energy experienced significant operational challenges and delays at its flagship Centurion metallurgical coal mine in Queensland, Australia, which directly impacted its stock performance. On March 30, 2026, the company lowered its fiscal Q1 2026 production guidance for Centurion from an estimated 700,000 tons to approximately 250,000 tons due to "mining commissioning challenges," resulting in a stock price decline of about 9.7%. Further, on May 5, 2026, Peabody announced it failed to ramp up Centurion by the anticipated March 2026 deadline and subsequently cut its full-year metallurgical segment volume guidance from the original expectation of 3.5 million tons to 2.5 million tons, contributing to an additional 5.7% drop in the stock price. The full longwall production ramp-up has been delayed until early 2027.

2. Disappointing Fiscal Q1 2026 Earnings Performance.

For fiscal Q1 2026 (ended March 31, 2026), Peabody Energy reported adjusted earnings per share (EPS) of -$0.27, substantially missing the consensus analyst estimate of $0.1079. This represented a negative earnings surprise of approximately 350%, or a miss of $0.40 against an estimate of $0.14, with other reports citing a miss of -$0.26 against a forecast of $0.22. This significant earnings miss was primarily attributed to the operational challenges and higher ramp-up costs associated with the Centurion metallurgical mine. The company's adjusted EBITDA for fiscal Q1 2026 was $83 million, a 30% decrease compared to fiscal Q4 2025.

Show more
Updated on 7/14/2026

Peabody Energy (BTU) stock has lost about 30% since 3/31/2026 because of the following key factors:

1. Operational Setbacks and Production Guidance Cuts at the Centurion Mine.

Peabody Energy experienced significant operational challenges and delays at its flagship Centurion metallurgical coal mine in Queensland, Australia, which directly impacted its stock performance. On March 30, 2026, the company lowered its fiscal Q1 2026 production guidance for Centurion from an estimated 700,000 tons to approximately 250,000 tons due to "mining commissioning challenges," resulting in a stock price decline of about 9.7%. Further, on May 5, 2026, Peabody announced it failed to ramp up Centurion by the anticipated March 2026 deadline and subsequently cut its full-year metallurgical segment volume guidance from the original expectation of 3.5 million tons to 2.5 million tons, contributing to an additional 5.7% drop in the stock price. The full longwall production ramp-up has been delayed until early 2027.

2. Disappointing Fiscal Q1 2026 Earnings Performance.

For fiscal Q1 2026 (ended March 31, 2026), Peabody Energy reported adjusted earnings per share (EPS) of -$0.27, substantially missing the consensus analyst estimate of $0.1079. This represented a negative earnings surprise of approximately 350%, or a miss of $0.40 against an estimate of $0.14, with other reports citing a miss of -$0.26 against a forecast of $0.22. This significant earnings miss was primarily attributed to the operational challenges and higher ramp-up costs associated with the Centurion metallurgical mine. The company's adjusted EBITDA for fiscal Q1 2026 was $83 million, a 30% decrease compared to fiscal Q4 2025.

3. Escalating Investor Concern and Legal Pressure.

The operational issues and subsequent revised guidance led to a notable increase in investor concern, culminating in the filing of multiple securities fraud class action lawsuits against Peabody Energy. These lawsuits allege that the company made misleading statements to investors regarding the Centurion mine's ramp-up and production capabilities between October 14, 2024, and May 4, 2026. The legal pressure and allegations of misrepresentation further eroded investor confidence, contributing to the stock's downward trend.

4. Volatility in Global Metallurgical Coal Markets.

While some broader energy trends indicated rising demand, the global seaborne metallurgical coal markets experienced volatility during the period, partly due to subdued steel demand in key regions such like China and Europe. Although overall coal prices showed mixed trends, with some increases driven by supply disruptions and energy security concerns in fiscal Q1 and Q2 2026, the specific segment relevant to Peabody's premium metallurgical coal faced an inconsistent demand environment, which, combined with the company's internal issues, exacerbated the negative stock performance.

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Stock Movement Drivers

Fundamental Drivers

The -30.6% change in BTU stock from 3/31/2026 to 7/24/2026 was primarily driven by a -31.3% change in the company's P/S Multiple.
(LTM values as of)33120267242026Change
Stock Price ($)32.8522.80-30.6%
Change Contribution By: 
Total Revenues ($ Mil)3,8623,8980.9%
P/S Multiple1.00.7-31.3%
Shares Outstanding (Mil)1221220.1%
Cumulative Contribution-30.6%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/24/2026
ReturnCorrelation
BTU-30.6% 
Market (SPY)13.6%3.0%
Sector (XLE)-2.7%31.9%

Fundamental Drivers

The -22.8% change in BTU stock from 12/31/2025 to 7/24/2026 was primarily driven by a -21.3% change in the company's P/S Multiple.
(LTM values as of)123120257242026Change
Stock Price ($)29.5422.80-22.8%
Change Contribution By: 
Total Revenues ($ Mil)3,9623,898-1.6%
P/S Multiple0.90.7-21.3%
Shares Outstanding (Mil)122122-0.2%
Cumulative Contribution-22.8%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/24/2026
ReturnCorrelation
BTU-22.8% 
Market (SPY)8.7%-1.2%
Sector (XLE)34.2%37.6%

Fundamental Drivers

The 71.9% change in BTU stock from 6/30/2025 to 7/24/2026 was primarily driven by a 85.3% change in the company's P/S Multiple.
(LTM values as of)63020257242026Change
Stock Price ($)13.2622.8071.9%
Change Contribution By: 
Total Revenues ($ Mil)4,1903,898-7.0%
P/S Multiple0.40.785.3%
Shares Outstanding (Mil)122122-0.2%
Cumulative Contribution71.9%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/24/2026
ReturnCorrelation
BTU71.9% 
Market (SPY)20.6%8.3%
Sector (XLE)43.9%26.3%

Fundamental Drivers

The 9.7% change in BTU stock from 6/30/2023 to 7/24/2026 was primarily driven by a 34.3% change in the company's P/S Multiple.
(LTM values as of)63020237242026Change
Stock Price ($)20.7922.809.7%
Change Contribution By: 
Total Revenues ($ Mil)5,6543,898-31.1%
P/S Multiple0.50.734.3%
Shares Outstanding (Mil)14512218.5%
Cumulative Contribution9.7%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2023 to 7/24/2026
ReturnCorrelation
BTU9.7% 
Market (SPY)72.6%22.5%
Sector (XLE)60.6%37.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BTU Return318%162%-7%-13%44%-19%933%
Peers Return226%107%46%-11%36%-12%940%
S&P 500 Return27%-19%24%23%16%8%97%

Monthly Win Rates [3]
BTU Win Rate67%58%50%42%58%57% 
Peers Win Rate62%52%53%40%52%43% 
S&P 500 Win Rate75%42%67%75%67%43% 

Max Drawdowns [4]
BTU Max Drawdown-54%-43%-39%-33%-51%-44% 
Peers Max Drawdown-34%-29%-37%-46%-45%-38% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: AMR, HCC, METC, SXC, HNRG. See BTU Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/24/2026 (YTD)

How Low Can It Go

EventBTUS&P 500
2025 US Tariff Shock
  % Loss-31.2%-18.8%
  % Gain to Breakeven45.3%23.1%
  Time to Breakeven36 days79 days
2023 SVB Regional Banking Crisis
  % Loss-30.8%-6.7%
  % Gain to Breakeven44.6%7.1%
  Time to Breakeven238 days31 days
2020 COVID-19 Crash
  % Loss-66.6%-33.7%
  % Gain to Breakeven199.6%50.9%
  Time to Breakeven431 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-17.4%-19.2%
  % Gain to Breakeven21.1%23.8%
  Time to Breakeven37 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-24.9%-3.7%
  % Gain to Breakeven33.1%3.9%
  Time to Breakeven156 days6 days
2014-2016 Oil Price Collapse
  % Loss-93.6%-6.8%
  % Gain to Breakeven1456.9%7.3%
  Time to Breakeven58 days15 days

Compare to AMR, HCC, METC, SXC, HNRG

In The Past

Peabody Energy's stock fell -31.2% during the 2025 US Tariff Shock. Such a loss loss requires a 45.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventBTUS&P 500
2025 US Tariff Shock
  % Loss-31.2%-18.8%
  % Gain to Breakeven45.3%23.1%
  Time to Breakeven36 days79 days
2023 SVB Regional Banking Crisis
  % Loss-30.8%-6.7%
  % Gain to Breakeven44.6%7.1%
  Time to Breakeven238 days31 days
2020 COVID-19 Crash
  % Loss-66.6%-33.7%
  % Gain to Breakeven199.6%50.9%
  Time to Breakeven431 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-24.9%-3.7%
  % Gain to Breakeven33.1%3.9%
  Time to Breakeven156 days6 days
2014-2016 Oil Price Collapse
  % Loss-93.6%-6.8%
  % Gain to Breakeven1456.9%7.3%
  Time to Breakeven58 days15 days
2013 Taper Tantrum
  % Loss-26.8%-0.2%
  % Gain to Breakeven36.5%0.2%
  Time to Breakeven126 days1 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-28.5%-15.4%
  % Gain to Breakeven39.8%18.2%
  Time to Breakeven116 days125 days
2008-2009 Global Financial Crisis
  % Loss-73.9%-53.4%
  % Gain to Breakeven283.3%114.4%
  Time to Breakeven742 days1085 days
Summer 2007 Credit Crunch
  % Loss-20.6%-8.6%
  % Gain to Breakeven25.9%9.5%
  Time to Breakeven67 days47 days

Compare to AMR, HCC, METC, SXC, HNRG

In The Past

Peabody Energy's stock fell -31.2% during the 2025 US Tariff Shock. Such a loss loss requires a 45.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Peabody Energy (BTU)

Peabody Energy Corporation (BTU) is a prominent global coal mining company. Its core business involves the extraction, preparation, and sale of coal. The company's main products include thermal coal, which is primarily sold to electric utilities for power generation, and various types of metallurgical coal—such as hard coking coal, semi-hard coking coal, semi-soft coking coal, and pulverized coal injection coal—essential for steel manufacturing. Beyond mining, Peabody Energy also engages in the direct and brokered trading of coal and freight-related contracts, along with providing transportation services.

The company operates a significant portfolio of 17 coal mining operations located in both the United States and Australia, holding substantial proven and probable coal reserves. Peabody Energy segments its operations geographically and by coal type, including Seaborne Thermal Mining, Seaborne Metallurgical Mining, Powder River Basin Mining, and Other U.S. Thermal Mining, reflecting its diverse production capabilities and market reach.

Peabody Energy's primary customer base consists of electricity generators, various industrial facilities, and steel manufacturers across the globe. The company serves a broad international market, with a strong presence in countries such as the United States, Japan, Taiwan, Australia, India, Indonesia, China, Vietnam, and South Korea, solidifying its position as a key supplier in the international energy and steel production sectors.

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The ExxonMobil of coal.

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  • Thermal Coal: Mined, prepared, and sold primarily to electric utilities and industrial facilities for power generation.
  • Metallurgical Coal: Mined and sold to steel manufacturers for steel production, including various types like coking coal and pulverized coal injection coal.
  • Coal and Freight Trading & Transportation Services: Engages in direct and brokered trading of coal and freight-related contracts, and provides transportation-related services.

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Major Customers of Peabody Energy (BTU)

Peabody Energy (BTU) primarily sells its coal to other companies (business-to-business sales) rather than directly to individuals. The provided background description for Peabody Energy does not list specific names of its major customer companies or their public symbols. Instead, it broadly categorizes its customer base.

Based on the description, Peabody Energy supplies coal primarily to the following types of customers:

  • Electricity generators (electric utilities): These companies purchase thermal coal to fuel power plants for electricity production.
  • Industrial facilities: This category encompasses a range of industrial operations that utilize coal for various processes.
  • Steel manufacturers: These companies purchase metallurgical coal (such as coking coal) for use in steel production.

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Jim Grech, President and Chief Executive Officer

Jim Grech has over thirty years of experience in the coal and natural resources industry. He joined Peabody Energy in June 2021 as President and Chief Executive Officer and is a member of the company's board of directors. Prior to Peabody, Mr. Grech served as Chief Executive Officer of Wolverine Fuels from 2018 to 2021. His career also includes executive leadership roles as President of Nexus Gas Transmission, Chief Commercial Officer and Executive Vice President of Consol Energy, and Vice President at DTE Energy. Mr. Grech is also a board member of America's Power, the National Mining Association, and Blue Danube Incorporated, and a member of the Coal Industry Advisory Board of the International Energy Agency. In January 2026, he was appointed Chair of the National Coal Council.

Mark Spurbeck, Executive Vice President and Chief Financial Officer

Mark Spurbeck joined Peabody Energy in 2018 and was appointed Executive Vice President and Chief Financial Officer in June 2020, having previously served as Senior Vice President & Chief Accounting Officer and Interim Chief Financial Officer. He oversees finance, treasury, tax, internal audit, financial reporting, financial planning, risk and mine finance, corporate accounting, investor relations, corporate communications, information technology, and shared services. Before joining Peabody, Mr. Spurbeck served as Vice President & Chief Accounting Officer of Coeur Mining, Inc. for five years. He also held various finance and accounting roles at Newmont Mining for eight years and at First Data Corporation, and began his career at Deloitte LLP.

Patrick Forkin III, Executive Vice President, Global Strategy and Peabody Development

Patrick Forkin III joined Peabody Energy in 2010 and has held a variety of roles within the company. He is responsible for global strategy and all non-coal mining initiatives, investments, and joint ventures. Mr. Forkin possesses an extensive background in the energy and mining industries, mergers and acquisitions, corporate finance, new technology commercialization, and equity market research. Prior to his tenure at Peabody, he held senior leadership positions at a U.S. solar development company and at investment banking firms that specialized in conventional and renewable energy research.

Malcolm Roberts, Executive Vice President and Chief Commercial Officer

Malcolm Roberts is Executive Vice President and Chief Commercial Officer for Peabody Energy, a role he assumed effective September 1, 2025, after joining the company in 2021 as Executive General Manager – Sales & Marketing. He is responsible for global commercial strategy, including sales, marketing, and corporate development. Mr. Roberts has more than 25 years of experience in the resources and commodities industry, with a focus on the energy and steel sectors. His background includes roles in finance, commercial, trading, and sales and marketing at leading mining and manufacturing organizations such as Rio Tinto, Bridgestone, and Heidelberg Cement.

Darren Yeates, Executive Vice President and Chief Operating Officer

Darren Yeates serves as Executive Vice President and Chief Operating Officer for Peabody Energy, a position he has held since 2020. He oversees the company's global operations, including health, safety and environment, mine operations, technical, procurement, and sales and marketing. Mr. Yeates brings over 40 years of mining industry experience to his role and previously served on Peabody's board of directors. Before joining Peabody, he was the Chief Operating Officer of MACH Energy Australia. His extensive career also includes serving as CEO of GVK Hancock Coal and over 22 years with Rio Tinto, where his positions included Acting Managing Director and Chief Operating Officer for Coal Australia. He is also a former director of Emeco Holdings Limited and Stanmore Coal Limited.

AI Analysis | Feedback

The key risks to Peabody Energy's business, trading under the symbol BTU, are primarily driven by the global energy transition, market volatility inherent in commodity industries, and the complex operational and regulatory environment of coal mining.

  1. Declining Demand for Thermal Coal and Energy Transition: Peabody Energy faces a significant long-term threat from the global shift away from fossil fuels, particularly thermal coal, due to the increasing adoption of alternative energy sources like renewables and natural gas. This trend is driven by climate change policies, environmental regulations, and economic competitiveness, leading to the retirement of coal-fired power plants and reduced thermal coal consumption globally, even in major markets like China and India, despite overall energy demand growth. This directly impacts a substantial portion of Peabody's revenue streams.
  2. Volatility in Coal Prices: The company's profitability is highly sensitive to fluctuations in global coal prices, which are influenced by various factors beyond its control. These factors include global economic conditions, supply and demand dynamics, and geopolitical events. Weakening demand and steady supply are projected to contribute to coal price declines, impacting Peabody's revenue, cash flow, and overall financial performance.
  3. Operational, Geological, and Regulatory Burdens: As a coal mining company, Peabody Energy is exposed to inherent operational risks such as geological complexities, equipment failures, mine accidents, and supply chain disruptions, which can lead to increased costs and production outages. Furthermore, the industry is subject to extensive and evolving environmental, health, and safety regulations across its operating regions, increasing compliance costs and potentially limiting production. Concerns around methane emissions from coal mining also pose a significant climate risk and potential for further regulatory scrutiny.

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The accelerated global transition to renewable energy sources, such as solar and wind, for electricity generation poses a clear emerging threat. This shift is driven by declining renewable energy costs, technological advancements in energy storage, and increasing governmental and societal pressure to decarbonize power grids, directly undermining the long-term market for Peabody's thermal coal.

The emerging decarbonization of the steel industry, through processes like green hydrogen-based direct reduced iron (DRI) and increased adoption of electric arc furnaces (EAFs) utilizing scrap steel, presents a significant threat to Peabody's metallurgical coal business. These technological advancements aim to reduce or eliminate the need for coking coal in steel production, impacting a core segment of the company's operations.

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Peabody Energy (BTU) is anticipated to experience future revenue growth over the next 2-3 years driven by several key factors:

  1. Increased Production and Higher Price Realizations from Centurion Metallurgical Coal Mine: The Centurion mine in Australia is expected to be a significant driver of revenue growth. It is ahead of schedule in its longwall production, poised to substantially boost the output of premium hard coking coal. Shipments from Centurion are projected to expand sevenfold in 2026 to 3.5 million tons and further increase beyond that, averaging 4.7 million tons annually over a mine life exceeding 25 years. This increased volume, coupled with an anticipated 10% rise in segment-wide price realizations versus the premium hard coking coal index, positions Centurion as a cornerstone asset for enhanced metallurgical coal revenue.
  2. Sustained Demand and Strategic Contracts for Thermal Coal: Analysts and company statements indicate continued strong cash-flowing thermal operations and supportive market conditions for thermal coal. Peabody Energy has secured forward thermal revenues through strategic agreements, including a major utility contract exceeding $1 billion, validating ongoing U.S. coal demand.
  3. Diversification into Rare Earth Elements: Peabody Energy's management has highlighted new revenue avenues through the development of rare earth elements, including a pilot plant initiative. This diversification effort could provide an additional source of revenue growth in the medium to long term.

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Share Repurchases

  • Peabody Energy authorized a share repurchase program in April 2023 for up to $1.0 billion.
  • By the end of 2025, Peabody repurchased 23.8 million shares for $530.8 million, with $469.6 million remaining available for future repurchases.
  • The company returned $221 million to shareholders in share repurchases and dividends in 2024.

Share Issuance

  • The number of shares outstanding decreased from 128,363,495 as of February 16, 2024, to 121,567,621 as of February 14, 2025, reflecting net share repurchases.

Outbound Investments

  • In 2024, Peabody acquired the Centurion North coal reserves for $143.8 million.
  • Peabody agreed to purchase four premium hard coking coal operations in Australia's Bowen Basin in 2024, a deal expected to transform the company into a predominantly steelmaking-coal supplier.
  • In 2022, Peabody partnered in a joint venture aiming to develop reclaimed mining land for utility-scale photovoltaic solar generation and battery storage.

Capital Expenditures

  • Capital expenditures for fiscal years 2021 to 2025 averaged $313.1 million, with annual figures of $183.1 million (2021), $221.5 million (2022), $348.3 million (2023), $401.3 million (2024), and $411.4 million (2025).
  • Peabody projects total capital expenditures for 2026 at approximately $340 million, a $70 million decrease from 2025, with a focus on enhancing production capabilities and exploring new growth opportunities.
  • A significant portion of capital expenditures was directed towards the Centurion Mine expansion, representing a $750 million investment, with $226.8 million invested in its development in 2024.

Better Bets vs. Peabody Energy (BTU)

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Peer Comparisons

Peers to compare with:

Financials

BTUAMRHCCMETCSXCHNRGMedian
NamePeabody .Alpha Me.Warrior .Ramaco R.SunCoke .Hallador. 
Mkt Price22.80142.9480.0710.358.9215.2419.02
Mkt Cap2.81.84.20.60.80.71.3
Rev LTM3,8982,1231,4695241,8564531,663
Op Inc LTM-89-32142-682039-6
FCF LTM-19122-135-14077-2-68
FCF 3Y Avg127297-66-4109356
CFO LTM244152207-5915663154
CFO 3Y Avg5404763647319067277

Growth & Margins

BTUAMRHCCMETCSXCHNRGMedian
NamePeabody .Alpha Me.Warrior .Ramaco R.SunCoke .Hallador. 
Rev Chg LTM-7.0%-19.1%11.1%-16.7%-1.4%10.6%-4.2%
Rev Chg 3Y Avg-11.5%-18.5%-6.8%-1.9%-2.7%-0.8%-4.7%
Rev Chg Q3.9%-1.3%52.9%-9.7%4.4%-13.5%1.3%
QoQ Delta Rev Chg LTM0.9%-0.3%12.1%-2.4%1.0%-3.4%0.3%
Op Inc Chg LTM-128.2%-169.0%60.2%-5,200.0%-86.4%266.4%-107.3%
Op Inc Chg 3Y Avg-81.2%-104.7%-21.6%-1,782.2%-25.8%50.2%-53.5%
Op Mgn LTM-2.3%-1.5%9.7%-13.0%1.1%8.6%-0.2%
Op Mgn 3Y Avg6.9%6.8%15.2%-1.1%5.0%6.0%6.4%
QoQ Delta Op Mgn LTM-2.1%1.4%6.2%-2.6%-1.4%-3.9%-1.8%
CFO/Rev LTM6.3%7.2%14.1%-11.2%8.4%13.9%7.8%
CFO/Rev 3Y Avg12.5%16.0%23.8%10.1%9.8%14.8%13.6%
FCF/Rev LTM-4.9%1.1%-9.2%-26.7%4.2%-0.4%-2.7%
FCF/Rev 3Y Avg2.7%9.5%-5.1%-2.6%5.6%1.3%2.0%

Valuation

BTUAMRHCCMETCSXCHNRGMedian
NamePeabody .Alpha Me.Warrior .Ramaco R.SunCoke .Hallador. 
Mkt Cap2.81.84.20.60.80.71.3
P/S0.70.92.91.20.41.61.0
P/Op Inc-31.4-57.929.6-9.338.018.34.5
P/EBIT-34.5-33.126.7-9.6-10.918.1-10.2
P/E-23.2-47.230.7-10.5-11.631.4-11.0
P/CFO11.412.120.4-10.84.911.211.3
Total Yield-3.0%-2.1%3.7%-9.2%-3.2%3.2%-2.6%
Dividend Yield1.3%0.0%0.4%0.3%5.4%0.0%0.4%
FCF Yield 3Y Avg5.9%11.4%-2.2%0.8%14.4%-1.6%3.4%
D/E0.20.00.10.70.90.00.1
Net D/E-0.0-0.20.00.20.7-0.0-0.0

Returns

BTUAMRHCCMETCSXCHNRGMedian
NamePeabody .Alpha Me.Warrior .Ramaco R.SunCoke .Hallador. 
1M Rtn-2.1%-12.5%-4.8%-17.7%9.4%-13.9%-8.7%
3M Rtn-14.0%-23.7%-7.5%-24.9%39.1%-4.6%-10.8%
6M Rtn-39.6%-38.2%-18.5%-62.7%12.4%-23.8%-31.0%
12M Rtn33.5%3.5%38.6%-54.7%11.2%-8.8%7.4%
3Y Rtn5.5%-14.9%93.6%20.7%19.1%68.6%19.9%
1M Excs Rtn-2.8%-13.2%-5.6%-18.4%8.7%-14.6%-9.4%
3M Excs Rtn-20.7%-32.4%-13.8%-30.2%37.9%-8.7%-17.3%
6M Excs Rtn-47.7%-46.4%-25.6%-66.6%5.3%-32.9%-39.6%
12M Excs Rtn16.2%-11.9%19.4%-70.7%-8.3%-26.0%-10.1%
3Y Excs Rtn-52.5%-72.4%46.8%-35.6%-36.3%13.6%-36.0%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Powder River Basin1,1531,0991,1981,066971
Seaborne Metallurgical1,0371,0561,3021,617728
Seaborne Thermal9081,2141,3301,346934
Other U.S. Thermal707823888952689
Corporate and Other56462292-4
Total3,8614,2374,9474,9823,318


Operating Income by Segment
$ Mil2015201420132002
Powder River Basin483   
Midwestern U.S. Mining270301426 
Australian Thermal Mining194   
Western U.S. Mining185770693 
Trading and Brokerage2715-20 
Australian Metallurgical Mining-18   
Corporate and Other-705-1,296-1,741 
Adjustment-1,899   
Australian Mining 74317 
Australian Operations   3
Corporate & other   -87
Trading & Brokerage   37
U.S. Mining   222
Total-1,465-135-325174


Assets by Segment
$ Mil20252024202320222021
Seaborne2,5432,4652,0881,6331,670
Corporate and Other1,9622,1422,5012,6191,962
Other U.S. Thermal1,302 1,3731,3591,318
U.S. Thermal 1,347   
Total5,8075,9545,9625,6114,950


Price Behavior

Price Behavior
Market Price$22.80 
Market Cap ($ Bil)2.8 
First Trading Date12/29/2006 
Distance from 52W High-42.1% 
   50 Days200 Days
DMA Price$24.86$29.54
DMA Trendupdown
Distance from DMA-8.3%-22.8%
 3M1YR
Volatility53.2%58.3%
Downside Capture155.3840.13
Upside Capture59.1966.66
Correlation (SPY)18.5%7.8%
BTU Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta0.980.92-0.30-0.100.390.73
Up Beta-3.35-2.93-2.73-1.73-1.300.56
Down Beta1.792.092.380.710.941.24
Up Capture105%85%-56%-10%112%23%
Bmk +ve Days11244067140429
Stock +ve Days10192859127361
Down Capture237%208%139%60%55%84%
Bmk -ve Days10172358112321
Stock -ve Days11223566124387

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BTU
BTU32.9%58.2%0.70-
Sector ETF (XLE)40.8%20.9%1.5425.9%
Equity (SPY)17.6%12.7%1.007.7%
Gold (GLD)19.2%28.1%0.6116.8%
Commodities (DBC)34.7%19.1%1.4227.6%
Real Estate (VNQ)13.8%14.1%0.69-3.2%
Bitcoin (BTCUSD)-45.4%42.9%-1.2917.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BTU
BTU22.3%63.8%0.58-
Sector ETF (XLE)23.9%25.8%0.8243.7%
Equity (SPY)12.8%17.1%0.5822.1%
Gold (GLD)17.0%18.4%0.7517.4%
Commodities (DBC)9.6%19.5%0.3838.5%
Real Estate (VNQ)3.0%18.9%0.0614.4%
Bitcoin (BTCUSD)15.7%53.4%0.4713.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BTU
BTU-1.6%77.4%0.32-
Sector ETF (XLE)9.9%29.5%0.3739.8%
Equity (SPY)14.9%17.9%0.7125.5%
Gold (GLD)11.3%16.1%0.5710.2%
Commodities (DBC)7.2%17.9%0.3230.2%
Real Estate (VNQ)5.2%20.7%0.2118.3%
Bitcoin (BTCUSD)58.3%66.2%0.989.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7152026
Short Interest: Shares Quantity12.6 Mil
Short Interest: % Change Since 6302026-2.9%
Average Daily Volume2.4 Mil
Days-to-Cover Short Interest5.2 days
Basic Shares Quantity122.0 Mil
Short % of Basic Shares10.3%

Earnings Returns History

Updated 6/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/2026-5.7%-7.0%13.9%
2/5/2026-2.2%5.0%-8.0%
10/30/2025-4.2%7.6%-0.7%
7/31/20254.7%7.0%9.7%
5/6/20259.5%8.0%-0.5%
2/6/2025-9.1%-6.6%-30.3%
10/31/20246.4%20.7%-3.1%
8/1/20241.8%-1.8%5.8%
...
SUMMARY STATS   
# Positive111011
# Negative131413
Median Positive4.7%7.8%22.3%
Median Negative-7.5%-6.8%-7.6%
Max Positive13.3%20.7%69.4%
Max Negative-14.9%-16.6%-30.3%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/2026-5.7%-7.0%13.9%
2/5/2026-2.2%5.0%-8.0%
10/30/2025-4.2%7.6%-0.7%
7/31/20254.7%7.0%9.7%
5/6/20259.5%8.0%-0.5%
2/6/2025-9.1%-6.6%-30.3%
10/31/20246.4%20.7%-3.1%
8/1/20241.8%-1.8%5.8%
5/2/20240.5%2.2%16.0%
2/8/20240.2%-4.0%5.1%
10/26/2023-3.7%-5.4%-2.5%
7/27/2023-3.3%-3.1%-3.9%
4/27/20231.8%-3.6%-17.2%
2/14/202313.3%-1.9%-13.6%
11/3/20222.7%13.7%36.0%
7/28/2022-3.1%-15.0%22.3%
4/28/2022-7.5%-14.5%-2.7%
2/10/20229.9%20.3%69.4%
10/28/2021-7.9%-7.3%-19.5%
7/29/20219.1%2.2%30.6%
4/29/2021-9.3%10.5%51.0%
2/4/2021-14.9%-16.6%-7.6%
11/9/2020-7.7%-10.3%42.7%
8/5/2020-7.9%-11.4%-17.5%
SUMMARY STATS   
# Positive111011
# Negative131413
Median Positive4.7%7.8%22.3%
Median Negative-7.5%-6.8%-7.6%
Max Positive13.3%20.7%69.4%
Max Negative-14.9%-16.6%-30.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/06/202610-Q
12/31/202502/19/202610-K
09/30/202511/07/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/20/202510-K
09/30/202411/08/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/23/202410-K
09/30/202311/03/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/24/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/06/202610-Q
12/31/202502/19/202610-K
09/30/202511/07/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/20/202510-K
09/30/202411/08/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/23/202410-K
09/30/202311/03/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/24/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/05/202210-Q
12/31/202102/18/202210-K
09/30/202111/05/202110-Q
06/30/202108/06/202110-Q
03/31/202105/05/202110-Q
12/31/202002/23/202110-K
09/30/202011/09/202010-Q
06/30/202008/10/202010-Q
03/31/202005/06/202010-Q
12/31/201902/21/202010-K
09/30/201911/05/201910-Q
06/30/201908/08/201910-Q

Recent Forward Guidance

Updated 7/12/2026

Latest: Q1 2026 Earnings Reported 5/5/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Seaborne Thermal Volume 3.00 Mil 7.1% Higher NewGuidance: 2.80 Mil for Q1 2026
Q2 2026 Seaborne Thermal Costs per Ton5759.562   
Q2 2026 Seaborne Metallurgical Volume 2.30 Mil -4.2% Lower NewGuidance: 2.40 Mil for Q1 2026
Q2 2026 Seaborne Metallurgical Costs per Ton145148150   
Q2 2026 PRB U.S. Thermal Volume 19.00 Mil -9.5% Lower NewGuidance: 21.00 Mil for Q1 2026
Q2 2026 PRB U.S. Thermal Costs per Ton1313.213.5   
Q2 2026 Other U.S. Thermal Volume 3.40 Mil 3.0% Higher NewGuidance: 3.30 Mil for Q1 2026
Q2 2026 Other U.S. Thermal Costs per Ton454749   
2026 Centurion Volume 2.50 Mil -28.6% LoweredGuidance: 3.50 Mil for 2026
2026 Seaborne Thermal Total Volume12.00 Mil12.50 Mil13.00 Mil   
2026 Seaborne Metallurgical Total Volume9.30 Mil9.80 Mil10.30 Mil   
2026 PRB U.S. Thermal Total Volume82.00 Mil85.00 Mil88.00 Mil   
2026 Other U.S. Thermal Total Volume13.20 Mil13.70 Mil14.20 Mil   
2026 SG&A 115.00 Mil 0.0% AffirmedGuidance: 115.00 Mil for 2026
2026 Capital Expenditures 340.00 Mil 0.0% AffirmedGuidance: 340.00 Mil for 2026

Prior: Q4 2025 Earnings Reported 2/5/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Seaborne Thermal Volume 2.80 Mil -12.5% Lower NewActual: 3.20 Mil for Q4 2025
Q1 2026 Seaborne Metallurgical Volume 2.40 Mil 0 Same NewActual: 2.40 Mil for Q4 2025
Q1 2026 PRB Volume 21.00 Mil -8.7% Lower NewActual: 23.00 Mil for Q4 2025
Q1 2026 Other U.S. Thermal Volume 3.30 Mil -8.3% Lower NewActual: 3.60 Mil for Q4 2025
2026 SG&A 115.00 Mil    
2026 Total Capital Expenditures 340.00 Mil -19.0% Lower NewActual: 420.00 Mil for 2025
2026 ARO Cash Spend 65.00 Mil    

Q3 2025 Earnings Reported 10/30/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Seaborne Thermal Volume 3.20 Mil -17.9% Lower NewActual: 3.90 Mil for Q3 2025
Q4 2025 Seaborne Thermal Costs per Ton4546.548   
Q4 2025 Seaborne Metallurgical Volume 2.40 Mil 9.1% Higher NewActual: 2.20 Mil for Q3 2025
Q4 2025 Seaborne Metallurgical Costs per Ton110112115   
Q4 2025 PRB Volume 23.00 Mil 0.0% Same NewActual: 23.00 Mil for Q3 2025
Q4 2025 PRB Costs per Ton1111.211.5   
Q4 2025 Other U.S. Thermal Volume 3.60 Mil -2.7% Lower NewActual: 3.70 Mil for Q3 2025
Q4 2025 Other U.S. Thermal Costs per Ton434547   
2025 Total Capital Expenditures 420.00 Mil    

Insider Activity

Updated 6/10/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Jarboe, Scott TCAO and Corporate SecretaryDirectSell602202628.022,92581,9582,389,966Form
2Bertone, Andrea EDirectSell511202624.434,584111,9871,016,606Form
3Spurbeck, MarkEVP and CFODirectSell306202635.5830,0001,067,4002,433,459Form
4Yeates, Darren RonaldEVP & COODirectSell212202636.4013,892505,6694,129,216Form
5Jarboe, Scott TCAO and Corporate SecretaryDirectSell116202634.262,15173,6932,819,804Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Jarboe, Scott TCAO and Corporate SecretaryDirectSell602202628.022,92581,9582,389,966Form
2Bertone, Andrea EDirectSell511202624.434,584111,9871,016,606Form
3Spurbeck, MarkEVP and CFODirectSell306202635.5830,0001,067,4002,433,459Form
4Yeates, Darren RonaldEVP & COODirectSell212202636.4013,892505,6694,129,216Form
5Jarboe, Scott TCAO and Corporate SecretaryDirectSell116202634.262,15173,6932,819,804Form

Investor Activity (13F)

Updated Jul 25, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Alta Fundamental Advisers LLC$16.5 Mil6.5%21TRIM -7.8%13F
Forest Avenue Capital Management LP$54.2 Mil3.4%25ADD +40.2%13F
Thomist Capital Management, LP$7.6 Mil2.6%43New13F
Gate City Capital Management, LLC$5.6 Mil2.2%16TRIM -72.0%13F
Sourcerock Group LLC$46.8 Mil2.0%39TRIM -26.7%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Thomist Capital Management, LP$7.6 Mil2.6%43New13F
Forest Avenue Capital Management LP$54.2 Mil3.4%25ADD +40.2%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Gate City Capital Management, LLC$5.6 Mil2.2%16TRIM -72.0%13F
Sourcerock Group LLC$46.8 Mil2.0%39TRIM -26.7%13F
Alta Fundamental Advisers LLC$16.5 Mil6.5%21TRIM -7.8%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Forest Avenue Capital Management LP$54.2 Mil3.4%25ADD +40.2%13F
Sourcerock Group LLC$46.8 Mil2.0%39TRIM -26.7%13F
Alta Fundamental Advisers LLC$16.5 Mil6.5%21TRIM -7.8%13F
Thomist Capital Management, LP$7.6 Mil2.6%43New13F
Gate City Capital Management, LLC$5.6 Mil2.2%16TRIM -72.0%13F
Core Cache Last Updated: 7/24/2026