American Superconductor Corporation (AMSC)
NASDAQ:AMSC
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American Superconductor
(NASDAQ:AMSC)
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Rating:71Outperform
Price Target:
$58.00
▲(46.02% Upside)
Action:Reiterated
Date:05/28/26
The score is driven primarily by improving financial performance (growth and profitability with low leverage) and a constructive technical setup. These positives are partially offset by expensive valuation (high P/E) and earnings-quality/one-time item risks highlighted by mixed cash flow conversion and acquisition/tax-related variability.
Positive Factors
Balance Sheet Strength
Extremely low leverage and a materially larger equity base give AMSC durable financial flexibility to fund project working capital, invest in capacity, and pursue strategic M&A without stressing liquidity. Low debt reduces refinancing and solvency risk across multi-quarter project cycles and supports competitive bidding and supplier terms.
Negative Factors
Earnings Quality / Cash Conversion
Although GAAP profits rose, operating cash flow covered only a small portion of net income in FY2026, and cash conversion weakened versus the prior year. Persistent gaps suggest non‑operating items or working‑capital timing materially affect reported earnings, which raises risk that current profit levels may not be fully repeatable over several quarters.
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Positive Factors
Negative Factors
Balance Sheet Strength
Extremely low leverage and a materially larger equity base give AMSC durable financial flexibility to fund project working capital, invest in capacity, and pursue strategic M&A without stressing liquidity. Low debt reduces refinancing and solvency risk across multi-quarter project cycles and supports competitive bidding and supplier terms.
Read all positive factors
American Superconductor (AMSC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.02B
Dividend YieldN/A
Average Volume (3M)1.42M
Price to Earnings (P/E)14.5
Beta (1Y)2.23
Revenue Growth34.26%
EPS Growth1826.94%
CountryUS
Employees569
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)3.06
Shares Outstanding47,694,447
10 Day Avg. Volume1,562,011
30 Day Avg. Volume1,421,067
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)2.62
Price to Sales (P/S)4.86
P/FCF Ratio79.61
Enterprise Value/Market Cap1.14
Enterprise Value/Revenue7.66
Enterprise Value/Gross Profit25.42
Enterprise Value/Ebitda85.36
Forecast
1Y Price Target
$61.67Price Target Upside55.25% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)1
Revenue Forecast (FY)$357.90M
American Superconductor Business Overview & Revenue Model
Company Description
American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates in two segments, Grid and Wind. The Grid segment offers products and services that enable elect...
How the Company Makes Money
AMSC makes money primarily by selling power electronics- and software-based grid solutions and by providing related engineering and support services. Key revenue streams typically include: (1) product revenue from grid interconnection and stabiliz...
American Superconductor Earnings Call Summary
Earnings Call Date:May 27, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call presented a broadly positive picture: record quarterly revenue, double‑digit and mid‑30s annual growth, significant backlog expansion (~40% YoY 12‑month backlog), sustained GAAP and non‑GAAP profitability, stronger gross margins, a fortified cash position (~$148M), and strategic expansion via the Comtrafo acquisition and new wins (defense, Inox wind ECS, initial data center orders). The primary negatives were integration and acquisition-related noncash charges (purchase accounting and a $4.2M contingent consideration loss), higher R&D/SG&A tied to the acquisition, and a one‑time tax benefit that may not recur (management warns taxes will normalize as NOLs are used). Operationally, labor-driven capacity scaling and the early-stage nature of the data center opportunity introduce execution and timing risk. Overall, the positives — strong revenue, orders, backlog, margins, cash, and profitable operations — materially outweigh the one‑time and integration headwinds.Positive Updates
Record Revenue Quarter and Strong Fiscal Year Growth
Q4 revenue of $86.4M (reported as >$85M) — up ~30% YoY vs $66.7M; fiscal 2025 revenue $299M — up 34% YoY vs $223M. Company delivered 7 consecutive quarters of GAAP profitability and 11 consecutive quarters of non-GAAP profitability, marking sustained profitable operations.
Negative Updates
Higher SG&A and R&D Expenses
Q4 R&D and SG&A totaled $18.8M vs $15.6M prior-year quarter. FY25 R&D and SG&A totaled $73.4M vs $54.5M in FY24 — a sizable increase largely attributed to Comtrafo acquisition-related expenses and inherited operating costs.
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Q4-2025 Updates
Positive
Negative
Record Revenue Quarter and Strong Fiscal Year Growth
Q4 revenue of $86.4M (reported as >$85M) — up ~30% YoY vs $66.7M; fiscal 2025 revenue $299M — up 34% YoY vs $223M. Company delivered 7 consecutive quarters of GAAP profitability and 11 consecutive quarters of non-GAAP profitability, marking sustained profitable operations.
Read all positive updates
Company Guidance
For the first quarter of fiscal 2026 (ending 06/30/2026) AMSC guided revenue to exceed $85.0 million, GAAP net income to exceed $3.0 million (>$0.07 per share) and non‑GAAP net income to exceed $8.0 million (>$0.17 per share); the guidance includes roughly $1.5 million of purchase‑accounting/non‑cash amortization in cost of goods sold related to the Comtrafo acquisition that management expects to taper starting in Q2 FY26, after which Comtrafo’s gross margin should align with AMSC’s. Management framed this outlook against a 12‑month backlog of over $280 million (≈40% growth vs. $200M a year ago; total backlog ≈$375M), fiscal 2025 revenue of ~$299M (+34% y/y), year‑end cash of about $148M, and average lead times of roughly 9–12 months.American Superconductor Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
88
Very Positive
Cash Flow
63
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 299.15M | 222.82M | 145.64M | 105.98M | 108.44M |
| Gross Profit | 89.01M | 61.85M | 35.28M | 8.52M | 13.49M |
| EBITDA | 25.31M | 12.14M | -1.97M | -26.53M | -21.60M |
| Net Income | 133.81M | 6.03M | -11.11M | -35.04M | -19.19M |
Balance Sheet | |||||
| Total Assets | 752.21M | 310.52M | 232.77M | 175.56M | 173.89M |
| Cash, Cash Equivalents and Short-Term Investments | 144.24M | 79.49M | 90.52M | 23.36M | 40.58M |
| Total Debt | 4.00M | 3.37M | 2.71M | 3.08M | 3.80M |
| Total Liabilities | 196.76M | 113.41M | 88.20M | 93.76M | 64.50M |
| Stockholders Equity | 555.45M | 197.11M | 144.57M | 81.80M | 109.39M |
Cash Flow | |||||
| Free Cash Flow | 18.26M | 25.87M | 1.20M | -23.72M | -19.91M |
| Operating Cash Flow | 23.15M | 28.29M | 2.14M | -22.48M | -18.98M |
| Investing Cash Flow | -77.08M | -35.21M | -961.00K | -1.52M | -7.16M |
| Financing Cash Flow | 116.08M | 8.00K | 65.44M | 162.00K | 142.00K |
American Superconductor Technical Analysis
Negative
39.72
Price Trends
45.62
Negative
38.56
Positive
42.13
Positive
Market Momentum
-0.17
Positive
36.40
Neutral
11.00
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMSC, the sentiment is Negative. The current price of 39.72 is below the 20-day moving average (MA) of 51.37, below the 50-day MA of 45.62, and below the 200-day MA of 42.13, indicating a neutral trend. The MACD of -0.17 indicates Positive momentum. The RSI at 36.40 is Neutral, neither overbought nor oversold. The STOCH value of 11.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AMSC.
American Superconductor Risk Analysis
American Superconductor disclosed 39 risk factors in its most recent earnings report. American Superconductor reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
American Superconductor Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $2.02B | 14.47 | 30.28% | ― | 34.26% | 1826.94% | |
69 Neutral | $3.46B | 33.45 | 11.03% | 0.46% | 4.88% | -7.08% | |
69 Neutral | $3.52B | 35.35 | 13.78% | 0.57% | 18.33% | 61.06% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $866.93M | 8.48 | 61.71% | ― | 38.63% | 25.62% | |
56 Neutral | $2.08B | 16.01 | 10.63% | 1.42% | 14.01% | -23.03% | |
53 Neutral | $1.72B | 20.50 | 20.01% | 0.10% | 4.23% | -5.90% |
* Industrials Sector Average
AMSC
American Superconductor
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9.25
27.95%
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CXT
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PSIX
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37.61
-10.29
-21.48%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.