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American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. It operates through Grid and Wind segments. The Grid segment offers products and services that enable electric utilities, industrial facilities, and renewable energy project developers to connect, transmit, and distribute power under the Gridtec Solutions brand. The company provides transmission planning services, which identify power grid congestion, poor power quality, and other risks; grid interconnection solutions for wind farms and solar power plants, power quality systems, and transmission and distribution cable systems; D-VAR systems used for controlling power flow and voltage in the AC transmission system; actiVAR system, a fast-switching medium-voltage reactive compensation solution; armorVAR system installed for reactive compensation, power factor correction, loss reduction, utility bill savings, and mitigation of common power quality concerns related to power converter-based generation and load devices; and D-VAR volt var optimization (VVO) that serves the distribution power grid market. This segment also offers ship protection systems, which reduce a naval ship's magnetic signature; and Onboard power delivery systems, power generation systems, and propulsion systems; and transformers and rectifiers systems. The Wind segment designs wind turbine systems and licenses these designs to third parties under the Windtec Solutions brand. The company also supplies power electronics and software-based control systems, engineered designs, and support services; and provides customer support services to wind turbine manufacturers. This segment's design portfolio comprises a range of drivetrains and power ratings of 2 megawatts and higher. American Superconductor Corporation was incorporated in 1987 and is headquartered in Ayer, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $223M | $12M | $6M | $26M | 3.1% | 53.0% | - |
| 2024 | $146M | $-2M | $-11M | $1M | -7.7% | 37.4% | - |
| 2023 | $106M | $-27M | $-35M | $-24M | -42.8% | -2.3% | - |
| 2022 | $108M | $-22M | $-19M | $-20M | -17.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 108.44 | 105.98 | 145.64 | 222.82 |
| Cost Of Revenue | 94.94 | 97.46 | 110.36 | 160.96 |
| Gross Profit | 13.49 | 8.52 | 35.28 | 61.85 |
| Operating Expense | 40.43 | 40.41 | 41.74 | 56.25 |
| Operating Income | -26.94 | -31.89 | -6.46 | 5.61 |
| EBITDA | -21.60 | -26.53 | -1.65 | 12.14 |
| EBIT | -26.94 | -31.89 | -6.46 | 5.61 |
| Pretax Income | -21.04 | -34.83 | -10.80 | 2.37 |
| Tax Provision | -1.85 | 0.21 | 0.31 | -3.67 |
| Net Income | -19.19 | -35.04 | -11.11 | 6.03 |
| Net Income Common Stockholders | -19.19 | -35.04 | -11.11 | 6.03 |
| Total Expenses | 135.37 | 137.88 | 152.10 | 217.21 |
| Interest Income | 0.07 | 0.25 | 1.30 | 3.71 |
| Research And Development | 10.47 | 8.97 | 7.99 | 11.43 |
| Selling General And Administration | 27.49 | 28.70 | 31.60 | 43.09 |
| Normalized EBITDA | -27.45 | -23.49 | 3.26 | 18.82 |
| Normalized Income | -24.52 | -32.03 | -7.23 | 11.31 |
| Basic EPS | -0.71 | -1.26 | -0.37 | 0.16 |
| Diluted EPS | -0.71 | -1.26 | -0.37 | 0.16 |
| Tax Effect Of Unusual Items | 0.53 | -0.03 | -1.03 | -1.40 |
| Tax Rate For Calcs | 0.09 | 0.01 | 0.21 | 0.21 |
| Total Unusual Items | 5.85 | -3.04 | -4.91 | -6.68 |
| Total Unusual Items Excluding Goodwill | 5.85 | -3.04 | -4.91 | -6.68 |
| Net Income From Continuing Operation Net Minority Interest | -19.19 | -35.04 | -11.11 | 6.03 |
| Reconciled Depreciation | 5.34 | 5.36 | 4.82 | 6.54 |
| Reconciled Cost Of Revenue | 92.07 | 94.85 | 107.69 | 156.16 |
| Net Interest Income | 0.07 | 0.25 | 1.30 | 3.71 |
| Net Income From Continuing And Discontinued Operation | -19.19 | -35.04 | -11.11 | 6.03 |
| Total Operating Income As Reported | -21.09 | -33.01 | -11.37 | -1.08 |
| Diluted Average Shares | 27.20 | 27.85 | 29.82 | 37.72 |
| Basic Average Shares | 27.20 | 27.85 | 29.82 | 36.99 |
| Diluted NI Availto Com Stockholders | -19.19 | -35.04 | -11.11 | 6.03 |
| Net Income Including Noncontrolling Interests | -19.19 | -35.04 | -11.11 | 6.03 |
| Net Income Continuous Operations | -19.19 | -35.04 | -11.11 | 6.03 |
| Other Income Expense | 5.82 | -3.19 | -5.64 | -6.95 |
| Other Non Operating Income Expenses | -0.03 | -0.15 | -0.74 | -0.27 |
| Special Income Charges | 5.85 | -3.04 | -4.91 | -6.68 |
| Gain On Sale Of Business | 0 | -1.92 | 0 | 0 |
| Restructuring And Mergern Acquisition | -5.85 | 1.12 | 4.91 | 6.68 |
| Net Non Operating Interest Income Expense | 0.07 | 0.25 | 1.30 | 3.71 |
| Interest Income Non Operating | 0.07 | 0.25 | 1.30 | 3.71 |
| Depreciation Amortization Depletion Income Statement | 2.47 | 2.75 | 2.15 | 1.73 |
| Depreciation And Amortization In Income Statement | 2.47 | 2.75 | 2.15 | 1.73 |
| Amortization | 2.47 | 2.75 | 2.15 | 1.73 |
| Amortization Of Intangibles Income Statement | 2.47 | 2.75 | 2.15 | 1.73 |
| Operating Revenue | 108.44 | 105.98 | 145.64 | 222.82 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| American Superconductor Corporationthis co. | AMSC | $2.3B | 15.69↓ discount | 4.23 | 3.1% | 95.34 |
| Astronics Corporation | ATRO | $2.4B | 82.70 | 17.06 | 21.0% | 23.80 |
| Xometry, Inc. | XMTR | $2.3B | - | 8.43 | -22.3% | -96.98 |
| First Advantage Corporation | FA | $2.2B | - | 1.73 | -2.7% | 10.84 |
| Helios Technologies, Inc. | HLIO |
| $2.2B |
| 46.10 |
| 2.38 |
| 5.2% |
| 16.37 |
| Eos Energy Enterprises, Inc. | EOSE | $2.2B | - | -0.95 | 43.3% | -15.54 |
| Huron Consulting Group Inc. | HURN | $2.1B | 22.00 | 4.01 | 19.9% | 11.58 |
| Blue Bird Corporation | BLBD | $2.1B | 15.52 | 7.17 | 50.0% | 9.57 |
| Custom Truck One Source, Inc. | CTOS | $2.1B | - | 2.57 | -3.8% | 21.79 |
| Peer Median | - | 34.05 | 3.29 | 12.5% | 11.21 | |