American Superconductor Corp key statistics and ratios

In fiscal 2026, American Superconductor Corp had return on equity of 35.6% and a net margin of 44.7%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

American Superconductor Corp: financial ratios, annual
Fiscal year	2010Mar 2010	2011Mar 2011	2012Mar 2012	2013Mar 2013	2014Mar 2014	2015Mar 2015	2016Mar 2016	2017Mar 2017	2018Mar 2018	2019Mar 2019	2020Mar 2020	2021Mar 2021	2022Mar 2022	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026	LTMJun 2026
Net margin	5.1%	−65.0%	−178.8%	−75.6%	−66.9%	−69.0%	−24.1%	−36.4%	−67.7%	47.6%	−26.8%	−26.0%	−17.7%	−33.1%	−7.6%	2.7%	44.7%	42.6%
Return on equity	5.8%	−64.9%	−59.8%	−45.6%	−47.4%	−50.6%	−28.3%	−38.1%	−58.3%	40.1%	−22.3%	−24.0%	−17.0%	−36.7%	−9.8%	3.5%	35.6%	24.2%
Return on assets	4.1%	−44.3%	−39.3%	−28.0%	−29.2%	−32.2%	−17.2%	−23.2%	−34.8%	25.8%	−11.9%	−13.4%	−11.2%	−20.1%	−5.4%	2.2%	25.5%	18.2%
Effective tax rate	55.8%	—	—	—	—	—	—	—	—	19.3%	—	—	—	—	—	—	—	—
R&D as % of revenue	7.5%	11.3%	35.6%	17.5%	14.5%	16.8%	12.8%	16.7%	24.0%	17.6%	15.0%	—	9.7%	8.5%	5.5%	5.1%	5.3%	4.8%
SG&A as % of revenue	16.0%	25.3%	94.2%	56.8%	44.3%	41.4%	30.1%	34.2%	46.6%	39.2%	35.5%	—	25.4%	27.1%	21.7%	19.3%	19.3%	19.3%

US$ thousands unless shown otherwise. Fiscal quarters.

American Superconductor Corp: financial ratios, quarterly
Quarter	2025 Q2Sept 2024	2025 Q3Dec 2024	2025 Q4Mar 2025	2026 Q1Jun 2025	2026 Q2Sept 2025	2026 Q3Dec 2025	2026 Q4Mar 2026	2027 Q1Jun 2026
Net margin	9.0%	4.0%	1.8%	9.3%	7.2%	158.1%	5.2%	10.1%
R&D as % of revenue	4.9%	4.9%	5.2%	5.9%	5.7%	4.8%	4.8%	4.2%
SG&A as % of revenue	19.3%	18.8%	18.2%	19.6%	20.4%	20.7%	16.9%	19.8%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 2 checks passed · June 30, 2026

What it owns · $762m

Short-term assets $343mLonger-term assets $420m

What it owes, and who funded it · $762m

Short-term liabilities $141mLonger-term liabilities $49mShareholders' equity $572m

Short-term assets cover short-term liabilities $343m of assets due within a year against $141m of liabilities due within a year.
Short-term assets cover long-term liabilities $343m short-term assets against $49m of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From American Superconductor Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

24 /100

Weak moat

How hard American Superconductor's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 0 / 20

Cash operating profit has been a median -5.2% of total assets over 10 years.
Pricing power 3 / 20

Gross margin has been a median 21.9%, moving by 7.6 percentage points (standard deviation) across 10 years.
Durability 10 / 20

Operating margin has been a median -23.6%; its worst year was -46.5%.
Cash conversion 4 / 20

Free cash flow was positive in 4 of 10 years, at a median -11.6% of revenue.
Discipline 7 / 20

The diluted share count rose 68.9% over five years; stock-based pay has been a median 4.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from American Superconductor Corp's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to American Superconductor Corp.