Short answer
PEABODY ENERGY CORP (BTU) filed its fiscal 2025 10-K annual report with the SEC on Feb 19, 2026. It reported revenue of $3.9B (−8.9% year over year) and net income of −$53M.
- Top risk flagged: Regulatory risk: potential contract terminations if coal supply agreements fail price adjustments under environmental laws affecting coal use
FY2025 key financial metrics · XBRL
- Revenue
- $3.9B
- −8.9% YoY
- Net income
- −$53M
- −114.3% YoY
- Operating margin
- -2.1%
- −12.6 pp YoY
- EPS (diluted)
- −$0.43
- −115.9% YoY
- ROE
- -1.5%
- −11.7 pp YoY
- Operating cash flow
- $334M
- −45.0% YoY
Source: XBRL data from the PEABODY ENERGY CORP (BTU) FY2025 10-K on SEC EDGAR. USD.
PEABODY ENERGY CORP FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Global coal mining and energy production company
- New strategic acquisitions in 2024 of Anglo American Steelmaking Coal Assets and related share purchase agreements expanding Australian coal operations
- Focus on integrating acquired assets from Anglo American and managing option deeds and loan notes tied to these transactions
- Equity compensation plans with 664,135 shares issuable under outstanding options and 4,917,561 shares available for future issuance as of December 31, 2025
- Multiple detailed amendments and agreements filed, reflecting complex restructuring and transactions during 2023-2025 period
Management Discussion & Analysis
- Revenue $3.86B, down $375M (8.9%) YoY; Seaborne Thermal down $305M (25.2%), Powder River Basin up $54M (4.9%)
- Adjusted EBITDA $455M, down $417M (47.8%) YoY; Powder River Basin best segment with $176M (up 26.8%), Seaborne Metallurgical worst at $56M (down 76.7%)
- Operating margin decline implied by EBITDA and revenue drop; net loss from continuing ops $42M vs income $407M prior year
- Segment costs $3.31B, modestly down $62M (1.8%); Corporate costs down 49.5%; asset retirement down 25.4%
- No buyback or dividend details disclosed; capex not explicitly stated; notable $6.25M govt funding for rare earths pilot plant
- Management notes global coal price volatility, impacts from geopolitical and trade factors, and risks from terminated Anglo acquisition arbitration
Risk Factors
- Regulatory risk: potential contract terminations if coal supply agreements fail price adjustments under environmental laws affecting coal use
- Macroeconomic threat: tariffs impacting steel imports could reduce demand for metallurgical coal, which was 27% of 2025 revenue
- Operational vulnerability: $1.0 billion take-or-pay rail and port contracts in Australia through 19 years increase fixed costs despite usage
- Competitive risk: steel industry shift to electric arc furnaces reduces metallurgical coal demand, threatening 25-27% revenue segment
- Financial risk: $997.2 million surety bonds and $227.2 million letters of credit required for reclamation may become costly or unavailable
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