American Superconductor Corp (AMSC) stock analysis
Close on Nov 12, 2026Market cap $1.21BP/E 8.4Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed13 of 30 checks passed
American Superconductor passes 13 of the 30 checks behind our score; 13 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 2/6
- Growth
- 2/6
- Past performance
- 3/6
- Financial health
- 6/6
- Dividend
- 0/6
What stands out
No debt
American Superconductor has no borrowings on its latest balance sheet.
Revenue growing 10%+ a year
Revenue grew 41.3% a year over the last three fiscal years.
Interest well covered
No meaningful interest expense to cover.
Debt covered by cash flow
There is no debt to cover.
What to watch
Return on equity under 15%
Return on equity was 29.2% over the last twelve months and averaged -4.9% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 6.7%, below the 10% that usually covers the cost of capital.
Gross margin slipping
Gross margin was 28.0% over the last twelve months, against 29.6% a year earlier.
No dividend
American Superconductor has not paid a dividend in the last twelve months.
Valuation2/6
P/E against its history
Not enough price and earnings history to compare.
P/E below the industry
American Superconductor's P/E of 8.6 is below the Electronic and Other Electrical Equipment and Components, except Computer Equipment median of 32.5.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B below the industry
American Superconductor's price-to-book of 2.14 is below the Electronic and Other Electrical Equipment and Components, except Computer Equipment median of 6.03.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth2/6
Revenue growing 10%+ a year
Revenue grew 41.3% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 31.1% over the last twelve months; the Electronic and Other Electrical Equipment and Components, except Computer Equipment median is 13.5%.
Guidance issued
The latest outlook (second quarter ending September 30, 2026 revenues, Aug 5, 2026) was issued for the first time, so it neither adds nor takes away points.
Gross margin slipping
Gross margin was 28.0% over the last twelve months, against 29.6% a year earlier.
Past performance3/6
Return on equity under 15%
Return on equity was 29.2% over the last twelve months and averaged -4.9% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 6.7%, below the 10% that usually covers the cost of capital.
Return on equity above the industry
American Superconductor's return on equity of 29.2% is above the Electronic and Other Electrical Equipment and Components, except Computer Equipment median of 12.0%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 38.6% over the last twelve months, against a 5-year average of -2.2%.
Net margin above the industry
American Superconductor's net margin of 38.6% is above the Electronic and Other Electrical Equipment and Components, except Computer Equipment median of 5.8%.
Financial health6/6
No debt
American Superconductor has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term assets cover short-term debts
Current assets are 2.38 times current liabilities.
Low bankruptcy risk
The Altman Z-score is 3.08; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
American Superconductor has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for American Superconductor. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Electronic and Other Electrical Equipment and Components, except Computer Equipment median 32.5
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $24.09M
- Value traded per 1% price move
- $8.07M
Downside
High risk
- Typical loss in a bad month
- 28.0%
- Volatility (annualized)
- 70%
- Sharpe ratio, 1 year
- -0.49
- Beta to the S&P 500 (5Y)
- 2.16
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +34.3% | +41.3% | +28.0% | +12.0% | |
| Gross profit | +47.7% | +120.5% | – | +15.3% | |
| Net income | +2118.0% | – | – | – | |
| EPS, diluted | +1806.3% | – | – | – | |
| Free cash flow | -29.4% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -38.1% | -24.0% | 35.6% | |
| Return on assets | -23.2% | -13.4% | 25.5% | |
| Current ratio | 1.73 | 2.58 | 2.39 | |
| Debt to equity | 0.00 | 0.00 | – | |
| Net debt to EBITDA | 1.35× | 3.48× | – | |
| Inventory turnover | 3.6× | – | 2.4× | |
| Capex to revenue | 0.9% | 2.0% | 1.6% | |
| Diluted shares | 14M | 0M | 44M |
Where the cash went
Fiscal 2021 to 2025, five years combined
American Superconductor generated $95.03M from operations and spent $10.54M on capital expenditure, dividends and share buybacks. 99% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 44.7% | 0.57× | 1.40× | 35.6% |
| FY2024 | 2.7% | 0.82× | 1.59× | 3.5% |
| FY2023 | -7.6% | 0.71× | 1.80× | -9.8% |
| FY2022 | -33.1% | 0.61× | 1.83× | -36.7% |
| FY2021 | -17.7% | 0.63× | 1.52× | -17.0% |
| FY2020 | -26.0% | 0.52× | 1.79× | -24.0% |
| FY2019 | -26.8% | 0.44× | 1.88× | -22.3% |
| FY2018 | 47.6% | 0.54× | 1.56× | 40.1% |
| FY2017 | -67.7% | 0.51× | 1.68× | -58.3% |
| FY2016 | -36.4% | 0.64× | 1.64× | -38.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$133.81M
- Cash generatingOperating cash flow above zero$23.15M
- Return on assets improvedROA up on the prior year2.6% → 43.1%
- Earnings backed by cashOperating cash flow above net income$23.15M vs $133.81M
- Less leverageLong-term debt to assets fell0.0% → –
- Better liquidityCurrent ratio rose2.07 → 2.39
- No dilutionShare count did not rise38M → 44M
- Gross margin improvedGross margin up on the prior year27.76% → 30.55%
- More efficientAsset turnover rose0.96 → 0.96
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