A Look At Amprius Technologies (AMPX) Valuation As Defense Battery Partnership And New Coverage Gain Attention
Amprius Technologies (AMPX) is back in focus after announcing a manufacturing partnership with Nanotech Energy to build a U.S. production pathway for its silicon battery cells, which are tailored to defense sector customers.
See our latest analysis for Amprius Technologies.
New coverage of Amprius as a key supplier for unmanned aerial systems and the Nanotech Energy partnership have arrived after a strong 1 year total shareholder return of about 195%. However, the 30 day share price return of around a 10% decline and the 7 day share price return of around an 11% decline suggest some momentum has cooled recently.
If this defense focused battery story has caught your attention, you might also want to look at 34 AI infrastructure stocks as another way to find companies tied to the next wave of power hungry computing and equipment.
With a share price around $9.91, a 1 year total return near 195%, and analysts’ average target closer to $17.57, the key question is simple: is Amprius still mispriced, or is the market already baking in the next leg of growth?
Most Popular Narrative: 19.1% Undervalued
At a last close of $9.91 versus a narrative fair value of $12.25, Amprius is being framed as undervalued, with the focus firmly on future growth and profitability rather than current losses.
Year-End 2025 (Estimate): The first half of 2025 generated $26.4 million. Assuming continued strong growth in the second half, the full-year 2025 revenue could plausibly be in the $60 million to $70 million range.
Want to see what is driving that revenue ramp according to goodvalue? The narrative leans heavily on rapid compounding sales and a richer profit profile a few years out. It then layers on a premium earnings multiple usually reserved for high growth names. Curious how those moving parts all add up to the $12.25 fair value mark?
Result: Fair Value of $12.25 (UNDERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, this hinges on ambitious revenue and margin assumptions, so any slower demand for aviation batteries or delays in scaling profitable production could quickly challenge that story.
Find out about the key risks to this Amprius Technologies narrative.
Another View: Rich Price Tag On Sales Today
That 19.1% “undervalued” narrative sits next to a very different signal. On a P/S of 22.1x versus 2.4x for the US Electrical industry and 16x for peers, and a fair ratio of 2.6x, Amprius is priced far above where the market could settle. Is that a cushion or a cliff for future expectations?
See what the numbers say about this price — find out in our valuation breakdown.
Next Steps
Mixed signals on value and expectations can be confusing, so check the full picture for yourself and weigh up 2 key rewards and 3 important warning signs before you decide what it all means.
Looking for more investment ideas?
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- Target value oriented opportunities by scanning through 53 high quality undervalued stocks that combine appealing pricing with solid fundamentals.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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