Peabody Energy Corporation
BTU Energy Thermal Coal
Peabody Energy Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.9 billion, down 8.86% from fiscal 2024. In the quarter to June 2026, revenue grew 12.7%, EPS fell 221.7%, free cash flow grew 11.3% and total debt fell 1.40%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
Follow BTU
Peabody Energy Corporation (BTU) Altman Z-score
Peabody Energy Corporation's Altman Z-score for fiscal 2025 is 2.07, in the grey zone (1.81–2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.07 | (0.12) |
| FY2024 | 2.19 | (0.56) |
| FY2023 | 2.75 | (0.33) |
| FY2022 | 3.08 | 1.95 |
| FY2021 | 1.13 | 1.91 |
| FY2020 | −0.79 | (1.92) |
| FY2019 | 1.13 | (0.81) |
| FY2018 | 1.94 | 0.04 |
| FY2017 | 1.90 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.12 | — | 0.15 | |
| Retained earnings / total assets | 0.23 | — | 0.33 | |
| EBIT / total assets | (0.01) | — | −0.05 | |
| Market value of equity / total liabilities | 1.63 | — | 0.98 | |
| Sales / total assets | 0.66 | — | 0.66 | |
| Altman Z-score | Grey zone | 2.07 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.17 | ||
Z and Z″ put Peabody Energy Corporation in different zones: grey zone by Z, safe zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| NC NACCO Industries, Inc. compare | 2.5× |
| BTU Peabody Energy Corporation | 2.1× |
| CNR Core Natural Resources, Inc. compare | 2.0× |
| NRP Natural Resource Partners LP compare | — |
| ARLP Alliance Resource Partners, L.P. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets