Revenue contraction and structural margin compression have severely impacted profitability, with gross margins deteriorating from 29.3% in 2023Q4 to a negative 1.5% by 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'00 | Dec'99 | Dec'98 |
|---|
| Sales/Revenue | 3.9B | 3.86B | 4.24B | 4.95B | 4.98B | 3.32B | 2.88B | 4.62B | 5.58B | 5.58B | 4.72B | 5.61B | 6.79B | 7.01B | 8.08B | 7.97B | 6.86B | 6.01B | 6.59B | 4.57B | 5.26B | 4.64B | 3.63B | 2.83B | 2.72B | 2.71B | 2.09B | 2.24B |
| Revenue Growth % | -6.98% | -8.86% | -14.35% | -0.71% | 50.13% | 15.17% | -37.68% | -17.17% | 0.05% | 18.31% | -15.94% | -17.42% | -3.16% | -13.17% | 1.29% | 16.24% | 14.1% | -8.81% | 44.13% | -12.97% | 13.17% | 27.89% | 28.35% | 4.14% | 0.24% | 29.43% | -6.69% | - |
| Cost of Goods Sold | 2.77B | 3.76B | 3.42B | 3.39B | 3.29B | 2.55B | 2.52B | 3.54B | 4.07B | 4.03B | 4.11B | 5.01B | 5.72B | 5.74B | 5.93B | 5.55B | 4.84B | 4.47B | 4.62B | 3.57B | 4.16B | 3.72B | 2.97B | 2.34B | 2.23B | 2.17B | 0 | 0 |
| COGS % of Revenue | - | 97.27% | 80.74% | 68.43% | 66.06% | 76.94% | 87.64% | 76.49% | 72.96% | 72.27% | 87.11% | 89.28% | 84.17% | 81.78% | 73.45% | 69.6% | 70.57% | 74.31% | 70.03% | 78.14% | 79.07% | 80.01% | 81.76% | 82.55% | 81.9% | 79.88% | - | - |
| Gross Profit | 137.2M | 105.6M | 815.8M | 1.56B | 1.69B | 765.2M | 356.2M | 1.09B | 1.51B | 1.55B | 607.7M | 601.5M | 1.08B | 1.28B | 2.14B | 2.42B | 2.02B | 1.54B | 1.98B | 999.89M | 1.1B | 928.62M | 662.37M | 493.68M | 491.75M | 545.41M | 2.09B | 2.24B |
| Gross Margin % | 3.52% | 2.73% | 19.26% | 31.57% | 33.94% | 23.06% | 12.36% | 23.51% | 27.04% | 27.73% | 12.89% | 10.72% | 15.83% | 18.22% | 26.55% | 30.4% | 29.43% | 25.69% | 29.97% | 21.86% | 20.93% | 19.99% | 18.24% | 17.45% | 18.1% | 20.12% | 100% | 100% |
| Gross Profit Growth % | - | -87.06% | -47.76% | -7.66% | 121% | 114.82% | -67.22% | -27.99% | -2.46% | 154.6% | 1.03% | -44.06% | -15.83% | -40.43% | -11.53% | 20.08% | 30.7% | -21.83% | 97.64% | -9.13% | 18.49% | 40.2% | 34.17% | 0.39% | -9.84% | -73.96% | -6.69% | - |
| Operating Expenses | 228.6M | 105M | 370.5M | 486.9M | 309.5M | 333M | 2.08B | 1.03B | 956.5M | 794.7M | 639.1M | 794.1M | 963.8M | 1.06B | 999.2M | 803.5M | 721.6M | 659.8M | 583.3M | 431.17M | 437.25M | 410.23M | 415.68M | 348.89M | 318.07M | 2.52B | 1.92B | 1.98B |
| OpEx % of Revenue | - | 2.72% | 8.74% | 9.84% | 6.21% | 10.04% | 72.35% | 22.17% | 17.14% | 14.24% | 13.55% | 14.16% | 14.19% | 15.05% | 12.37% | 10.08% | 10.52% | 10.97% | 8.85% | 9.43% | 8.32% | 8.83% | 11.45% | 12.33% | 11.71% | 92.87% | 91.47% | 88.01% |
| Selling, General & Admin | 113M | 105M | 91M | 90.7M | 88.8M | 84.9M | 99.5M | 145M | 158.1M | 142.6M | 131.9M | 176.4M | 227.1M | 249.1M | 268.8M | 268.2M | 280.7M | 208.7M | 201.8M | 147.15M | 175.94M | 189.8M | 143.03M | 108.53M | 101.42M | 95.26M | 67.69M | 83.64M |
| SG&A % of Revenue | - | 2.72% | 2.15% | 1.83% | 1.78% | 2.56% | 3.45% | 3.14% | 2.83% | 2.56% | 2.8% | 3.14% | 3.34% | 3.55% | 3.33% | 3.36% | 4.09% | 3.47% | 3.06% | 3.22% | 3.35% | 4.09% | 3.94% | 3.84% | 3.73% | 3.51% | 3.23% | 3.73% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 0 | 279.5M | 396.2M | 220.7M | 248.1M | 1.99B | 880.1M | 798.4M | 652.1M | 507.2M | 617.7M | 736.7M | 806.8M | 730.4M | 535.3M | 412.6M | 405.2M | 381.5M | 284.02M | 261.31M | 220.43M | 272.65M | 240.37M | 216.65M | 2.42B | 1.85B | 1.89B |
| Operating Income | -91.4M | 600K | 445.3M | 1.07B | 1.38B | 432.2M | -1.73B | 61.7M | 661.6M | 885.2M | -276.9M | -1.46B | -135.1M | -324.8M | 172.5M | 1.59B | 1.33B | 844.8M | 1.39B | 568.72M | 663.08M | 518.38M | 246.7M | 144.79M | 173.69M | 193.24M | 178.72M | 269.19M |
| Operating Margin % | -2.34% | 0.02% | 10.51% | 21.73% | 27.73% | 13.02% | -59.99% | 1.33% | 11.85% | 15.87% | -5.87% | -26.11% | -1.99% | -4.63% | 2.14% | 19.98% | 19.33% | 14.05% | 21.13% | 12.43% | 12.62% | 11.16% | 6.79% | 5.12% | 6.39% | 7.13% | 8.53% | 11.99% |
| Operating Income Growth % | - | -99.87% | -58.57% | -22.21% | 219.67% | 125.01% | -2901.13% | -90.67% | -25.26% | 419.68% | 81.1% | -984.23% | 58.41% | -288.29% | -89.17% | 20.19% | 56.92% | -39.35% | 144.92% | -14.23% | 27.91% | 110.13% | 70.39% | -16.64% | -10.12% | 8.12% | -33.61% | - |
| EBITDA | 333.2M | 421.6M | 837.2M | 1.4B | 1.75B | 785.6M | -1.38B | 662.7M | 1.39B | 1.58B | 230.3M | -892.6M | 520.6M | 415.5M | 835.9M | 2.08B | 1.77B | 1.25B | 1.81B | 937.47M | 1.05B | 841.43M | 525.19M | 387.28M | 415.87M | 443.02M | 362.91M | 471.83M |
| EBITDA Margin % | 8.55% | 10.92% | 19.76% | 28.22% | 35.1% | 23.67% | -47.98% | 14.33% | 24.97% | 28.37% | 4.88% | -15.91% | 7.66% | 5.92% | 10.35% | 26.03% | 25.75% | 20.79% | 27.39% | 20.49% | 19.93% | 18.12% | 14.46% | 13.69% | 15.31% | 16.34% | 17.33% | 21.02% |
| EBITDA Growth % | -57.9% | -49.64% | -40.03% | -20.16% | 122.58% | 156.83% | -308.59% | -52.45% | -11.94% | 587.15% | 125.8% | -271.46% | 25.29% | -50.29% | -59.73% | 17.49% | 41.33% | -30.78% | 92.63% | -10.52% | 24.51% | 60.22% | 35.61% | -6.87% | -6.13% | 22.07% | -23.08% | - |
| D&A (Non-Cash Add-back) | 424.6M | 421M | 391.9M | 321.4M | 367M | 353.4M | 346M | 601M | 732M | 697.3M | 507.2M | 572.2M | 655.7M | 740.3M | 663.4M | 482.2M | 440.9M | 405.2M | 412.9M | 368.74M | 384.62M | 323.05M | 278.49M | 242.49M | 242.18M | 249.78M | 184.19M | 202.64M |
| EBIT | -91.8M | 10.4M | 563M | 1.18B | 1.42B | 553.6M | -1.71B | 1.7M | 813.4M | 707.3M | -459.7M | -1.52B | -121.3M | -326M | 197M | 1.61B | 1.36B | 830.5M | 1.41B | 568.72M | 590.86M | 433.73M | 246.7M | 144.79M | 173.69M | 341.84M | 193.24M | 166.24M |
| Net Interest Income | 20.7M | 11.5M | 24.1M | 17M | -121.9M | -176.9M | -130.4M | -117M | -117.7M | -144.3M | -292.9M | -457.7M | -411.2M | -392.6M | -381.1M | -219.7M | -212.4M | -193M | -217M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 53.1M | 55.4M | 71M | 76.8M | 18.4M | 6.5M | 9.4M | 27M | 33.6M | 8.3M | 5.7M | 7.7M | 15.4M | 15.7M | 24.5M | 18.9M | 9.6M | 8.1M | 10M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 43.1M | 43.9M | 46.9M | 59.8M | 140.3M | 183.4M | 139.8M | 144M | 151.3M | 152.6M | 298.6M | 465.4M | 426.6M | 408.3M | 405.6M | 238.6M | 222.1M | 201.2M | 301.8M | 0 | 0 | 0 | 0 | 0 | 92.41M | 306.55M | 159.47M | 18.66M |
| Other Income/Expense | -26.7M | -34.1M | 70.8M | 50.1M | -103M | -62M | -123.5M | -204M | 2.5M | -783.5M | -538.5M | -525.5M | -412.8M | -409.5M | -381.1M | -217.4M | -187M | -193.1M | -217M | -227.89M | -127.75M | -7.65M | -93.63M | -147.97M | -94.88M | -196.47M | -172.09M | -157.58M |
| Pretax Income | -118.1M | -33.5M | 516.1M | 1.12B | 1.28B | 370.2M | -1.85B | -142.3M | 664.1M | 92.8M | -758.3M | -1.99B | -547.9M | -734.3M | -208.6M | 1.37B | 1.11B | 651.7M | 1.18B | 340.83M | 530.96M | 426.08M | 153.07M | -3.18M | 78.8M | -7.4M | 21.14M | 250.53M |
| Pretax Margin % | -3.03% | -0.87% | 12.18% | 22.74% | 25.66% | 11.16% | -64.27% | -3.08% | 11.9% | 1.66% | -16.08% | -35.48% | -8.07% | -10.47% | -2.58% | 17.23% | 16.23% | 10.84% | 17.85% | 7.45% | 10.1% | 9.17% | 4.21% | -0.11% | 2.9% | -0.27% | 1.01% | 11.16% |
| Income Tax | -12.1M | 8.8M | 108.8M | 308.8M | -38.8M | 22.8M | 8M | 46M | 18.4M | -424.8M | -84M | -135M | 201.2M | -448.3M | 262.3M | 363.2M | 308.1M | 193.8M | 185.8M | -78.11M | -81.52M | 960K | -26.44M | -47.71M | -40.01M | -141.52M | 9.05M | 90.19M |
| Effective Tax Rate % | 10.25% | -26.27% | 21.08% | 27.45% | -3.03% | 6.16% | -0.43% | -32.33% | 2.77% | -457.76% | 11.08% | 6.78% | -36.72% | 61.05% | -125.74% | 26.44% | 27.68% | 29.74% | 15.79% | -22.92% | -15.35% | 0.23% | -17.27% | 1499.78% | -50.77% | 1912.98% | 42.79% | 36% |
| Net Income | -119.7M | -52.9M | 370.9M | 759.6M | 1.3B | 360.1M | -1.87B | -211.3M | 646.9M | 461.6M | -739.8M | -2.04B | -787M | -524.9M | -585.7M | 957.7M | 774M | 448.2M | 953.5M | 264.29M | 600.7M | 422.65M | 175.39M | 31.35M | 105.52M | 28.21M | 10.21M | 160.34M |
| Net Margin % | -3.07% | -1.37% | 8.75% | 15.36% | 26.04% | 10.85% | -64.92% | -4.57% | 11.59% | 8.27% | -15.69% | -36.45% | -11.59% | -7.48% | -7.25% | 12.01% | 11.28% | 7.45% | 14.46% | 5.78% | 11.43% | 9.1% | 4.83% | 1.11% | 3.88% | 1.04% | 0.49% | 7.14% |
| Net Income Growth % | -132.73% | -114.26% | -51.17% | -41.44% | 260.21% | 119.25% | -785.14% | -132.66% | 40.14% | 162.4% | 63.82% | -159.8% | -49.93% | 10.38% | -161.16% | 23.73% | 72.69% | -52.99% | 260.78% | -56% | 42.13% | 140.98% | 459.48% | -70.29% | 274.05% | 176.32% | -93.63% | - |
| Net Income (Continuing) | -106M | -42.3M | 407.3M | 816M | 1.32B | 347.4M | -1.86B | -188.3M | 645.7M | 517.6M | -663.8M | -1.78B | -695.3M | -286M | -470.9M | 1.01B | 825M | 457.9M | 987.9M | 437.7M | 553.18M | 425.13M | 179.51M | 41.49M | 105.52M | 102.68M | 118.57M | 3.77M |
| Discontinued Operations | -100K | -200K | -3.8M | -400K | 1.7M | 24M | -14M | 3.2M | 18.1M | -36M | 0 | -175M | -28.2M | -225.8M | 0 | 0 | 0 | -14.7M | 0 | -16.44M | 48.12M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 44.9M | 45.8M | 58.3M | 60.5M | 63.5M | 59M | 51.7M | 58.7M | 56M | 49.4M | 7.6M | 1.6M | 1.7M | 39.2M | 33.9M | 30.7M | 28.6M | 6.2M | 1.4M | 701K | 33.34M | 2.55M | 1.91M | 1.91M | 37.12M | 41.27M | 23.91M | 0 |
| EPS (Diluted) | -0.98 | -0.43 | 2.70 | 5.00 | 8.31 | 3.22 | -19.04 | -1.82 | 5.35 | -8.18 | -40.43 | -110.52 | -2.94 | -1.97 | -2.19 | 3.52 | 2.86 | 1.66 | 3.50 | 0.98 | 2.23 | 1.58 | 0.69 | 0.56 | 1.96 | 1.54 | 1.42 | 22.27 |
| EPS Growth % | -137.51% | -115.93% | -46% | -39.83% | 158.07% | 116.91% | -946.15% | -134.02% | 165.4% | 79.77% | 63.42% | -3659.18% | -49.24% | 10.05% | -162.22% | 23.08% | 72.29% | -52.57% | 257.14% | -56.05% | 41.14% | 128.99% | 23.21% | -71.43% | 27.27% | 8.45% | -93.62% | - |
| EPS (Basic) | - | -0.43 | 3.06 | 5.52 | 9.13 | 3.24 | -19.14 | -2.04 | 5.42 | 1.48 | -36.72 | -98.91 | -38.98 | -29.19 | -32.71 | 52.99 | 42.97 | 1.66 | 3.52 | 1.00 | 2.28 | 1.61 | 0.71 | 0.57 | 2.02 | 5.85 | 3.92 | 1.42 |
| Diluted Shares Outstanding | 122M | 121.8M | 141.9M | 154.3M | 157.2M | 112M | 97.7M | 103.7M | 121M | 131.4M | 18.3M | 18.5M | 17.89M | 17.83M | 268M | 270.3M | 269.2M | 267.5M | 270.7M | 269.17M | 269.17M | 268.01M | 254.81M | 56.19M | 53.82M | 18.3M | 7.2M | 7.2M |
| Basic Shares Outstanding | -122M | 121.8M | 125.1M | 137.6M | 142.1M | 111.1M | 97.7M | 103.7M | 119.3M | 131.4M | 18.29M | 18.1M | 18.11M | 18.01M | 17.91M | 18.07M | 18.01M | 267.5M | 268.9M | 264.07M | 263.42M | 261.52M | 248.73M | 54.9M | 52.17M | 18.3M | 7.2M | 7.2M |
| Dividend Payout Ratio | - | - | 10.14% | 4.03% | - | - | - | - | 9.21% | - | - | - | - | - | - | 9.62% | 10.26% | 14.9% | 6.81% | 24.1% | 10.56% | 10.54% | 18.57% | 76.74% | 19.77% | - | - | - |
Commodity price volatility exposure
As reported in recent financial statements, Peabody Energy's revenue trajectory has shifted toward contraction, with the most recent quarterly figures showing a year-over-year decline of 8.86% as the company navigates a cooling commodity price environment and reduced demand for thermal coal across its primary utility customer base.
The consistent downward trend in top-line performance suggests that the post-pandemic pricing surge has fully dissipated, leaving the company exposed to lower spot market realizations. Investors should monitor whether the current revenue levels represent a new floor or if further erosion is likely as domestic utility coal consumption continues its secular decline.
Based on the company's reported figures, gross margins have deteriorated significantly from a peak of 29.3% in late 2023 to a negative 1.5% in 2026Q1, highlighting the extreme sensitivity of the cost structure to fluctuating coal prices and the impact of high fixed-cost operational requirements.
The collapse in gross margin suggests that the company's cost of goods sold is no longer being adequately covered by realized coal prices, potentially due to inflationary pressures on mining inputs or logistical bottlenecks. This margin profile indicates that the business is currently struggling to maintain profitability in its core operations, necessitating a closer look at the sustainability of its current mining cost structure.
According to recent SEC filings, Peabody Energy's operating income has swung from a positive $250.6 million in 2023Q4 to a loss of $46.1 million in 2026Q1, demonstrating that the company's high fixed-cost base is currently amplifying losses rather than providing the expected operating leverage during downturns.
The inability to scale SG&A and production costs down in proportion to revenue declines suggests that the company's operating model remains rigid. This lack of flexibility may indicate that management faces significant challenges in rightsizing the cost base to match the current, lower-volume reality of the coal market.
As indicated by the company's income statements, net income has experienced extreme volatility, swinging from a profit of $199.4 million in 2024Q2 to a loss of $32.4 million in 2026Q1, which complicates the assessment of normalized earnings power and the underlying quality of reported bottom-line results.
The frequent shifts between profitability and losses suggest that headline EPS figures are heavily influenced by non-operating items and commodity price swings rather than consistent operational execution. Analysts should be cautious in relying on these figures for valuation, as the impact of reclamation adjustments and inventory valuation changes may be masking the true economic performance of the business.
Quick answers to the most common questions about buying BTU stock.
For fiscal year 2025, Peabody Energy Corporation (BTU) reported total revenue of $3.86B. This represents a 72.0% increase compared to $2.24B in 1998.
Peabody Energy Corporation (BTU) reported a net loss of $52.9M for the fiscal year ending 2025.
Peabody Energy Corporation (BTU) reported an operating income of $0.6M, resulting in an operating profit margin of 0.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Peabody Energy Corporation (BTU) generated $105.6M in gross profit for the year, representing a gross profit margin of 2.7%. This demonstrates the company's core pricing power and production efficiency.