We present a novel method to extract the optical absorption coefficient of a semiconductor electroabsorption modulator (EAM) with anti-reflection coated facets. The method allows to obtain the total optical coupling loss, internal quantum efficiency, and optical absorption coefficients when input optical power is low. The dependence of the transfer curves on the input optical power in a multiple quantum well EAM is investigated by using the method. The optical loss saturation effect and the increase of device temperature are the dominant mechanisms for the dependence of transfer curves on the input optical power in the low bias region and the high bias region, respectively.