Is American Superconductor Corp. overvalued or undervalued?

As of 30 June 2025, the valuation grade for American Superconductor Corp. has moved from attractive to fair. The company appears to be overvalued given its high P/E ratio of 99, an EV to EBITDA of 96.82, and a Price to Book Value of 6.37. In comparison, its peer NuScale Power Corp. has a P/E of -82.91, indicating significant underperformance, while Microvast Holdings, Inc. has a more reasonable P/E of 23.10, suggesting that American Superconductor Corp. is not competitively priced within its industry.
Despite the overvaluation, American Superconductor Corp. has demonstrated impressive stock performance, with a year-to-date return of 161.84% compared to the S&P 500's 12.22%. This strong performance may not be sustainable given the company's current valuation metrics.