American Superconductor Corporation

American Superconductor has grown its sales at a 28% compounded annual rate over the past five years, outpacing the average industrials company. Its free cash flow margin expanded by 24.5 percentage points during that period, reaching 6.1% for the trailing twelve months. The company’s return on invested capital has also increased, though the improvement partly reflects a lack of profitable growth during the COVID era. Shares are trading at $32.76, or 33.7 times forward earnings, and have returned 5.1% since January 2026, lagging the S&P 500’s 11.4% gain.

Shares of American Superconductor Corporation rallied 44.2% in the first half of 2026, according to data from S&P Global Market Intelligence. The company delivered two quarterly earnings beats, with March-quarter revenue up 29.6% and backlog 40% higher year over year. However, the bulk of the stock's gains appeared to coincide with a Microsoft blog post in February stating that high-temperature superconductors are becoming commercially viable for its data centers, and an April study in Nature Physics by Ohio State researchers suggesting room-temperature superconductor control. American Superconductor currently trades at roughly 35 times fiscal 2027 estimates, with most revenue still coming from conventional utility products, but the stock is seen as a high-upside bet on eventual superconductor commercialization.

American Superconductor Corporation reported fourth-quarter revenue of $86.4 million, up from $66.7 million a year earlier, while full-year revenue rose 34% to $299.2 million. The company said growth was driven by higher Grid and Wind revenue, along with contributions from its Comtrafo acquisition. Fourth-quarter orders approached $100 million, led by traditional energy customers and rising data-center demand within the utility market, and the 12-month backlog expanded nearly 40% year over year to about $280 million. American Superconductor guided for revenue above $85 million in the June quarter, suggesting momentum carried into the new fiscal year.