Is American Superconductor Corp. overvalued or undervalued?

As of 17 October 2025, the valuation grade for American Superconductor Corp. has moved from attractive to fair, indicating a shift in its perceived value. The company appears to be overvalued based on its current metrics, particularly with a P/E ratio of 99, a Price to Book Value of 6.37, and an EV to EBITDA ratio of 96.82. In comparison, its peer NuScale Power Corp. has a P/E ratio of -82.91, while Eos Energy Enterprises, Inc. has a P/E ratio of -8.55, highlighting the relative high valuation of American Superconductor Corp. within its industry.
Despite the overvaluation, American Superconductor Corp. has shown impressive returns, with a year-to-date return of 143.69% compared to the S&P 500's 13.30%. This strong performance over multiple periods, including a 3-year return of 1408.04% against the S&P 500's 81.19%, suggests that the market may still have high expectations for the company's future growth, despite its current valuation metrics.