We have read about peonies that have buds but don't flower. However, our peony does not have buds either. The leaves are healthy looking. It is in a pot, so is that the problem? Should it be in the garden? It gets sun until midday.
Certified GKH Gardening Expert
Not all Peony will work well in a container.
I can't determine the size of your container used for your plant, but make sure it is adequate sized. Each time you transplant a Peony it can cause a delay in flowering.
It can take 3 or more years for a Peony to began to bloom.
Here is a link that will help you.