American Superconductor Corporation
AMSC Industrials Specialty Industrial Machinery
American Superconductor Corporation’s revenue for fiscal 2026 (year ended March 2026) was $299.2 million, up 34.3% from fiscal 2025. In the quarter to June 2026, revenue grew 30.0%, EPS grew 23.5% and free cash flow grew 68.4%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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American Superconductor Corporation (AMSC) Altman Z-score
American Superconductor Corporation's Altman Z-score for fiscal 2026 is 3.75, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 3.75 | 3.87 |
| FY2025 | −0.11 | 2.64 |
| FY2024 | −2.76 | 4.65 |
| FY2023 | −7.41 | (1.62) |
| FY2022 | −5.79 | (3.21) |
| FY2021 | −2.58 | 6.71 |
| FY2020 | −9.29 | (4.29) |
| FY2019 | −5.00 | 8.96 |
| FY2018 | −13.96 | (2.16) |
| FY2017 | −11.80 | (3.95) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.26 | — | 0.31 | |
| Retained earnings / total assets | (1.25) | — | −1.75 | |
| EBIT / total assets | 0.02 | — | 0.05 | |
| Market value of equity / total liabilities | 7.90 | — | 4.74 | |
| Sales / total assets | 0.40 | — | 0.40 | |
| Altman Z-score | Safe zone | 3.75 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.90 | ||
Z and Z″ put American Superconductor Corporation in different zones: safe zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| PSIX Power Solutions International, Inc. compare | 6.4× |
| EPAC Enerpac Tool Group Corp. compare | 5.6× |
| GHM Graham Corporation compare | 4.2× |
| AMSC American Superconductor Corporation | 3.8× |
| GRC Gorman-Rupp Company (The) compare | 3.7× |
| TNC Tennant Company compare | 3.3× |
| HLIO Helios Technologies, Inc compare | 3.2× |
| ATS ATS Corporation compare | 2.1× |
| BW Babcock compare | −1.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets