Vision Marine Technologies (VMAR)
NASDAQ:VMAR
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Vision Marine Technologies
(NASDAQ:VMAR)
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Rating:39Underperform
Price Target:
$0.37
▲(144.00% Upside)
Action:Reiterated
Date:06/06/26
The score is driven primarily by weak financial quality—large ongoing losses, thin margins, negative cash flow, and very high leverage—followed by very bearish technical conditions with the stock far below major moving averages and weak momentum. Valuation provides limited offset because the company is loss-making and no dividend yield is available.
Positive Factors
Revenue Growth
Sustained TTM revenue growth of +35.6% indicates meaningful demand traction for Vision Marine's E-Motion systems and related services. Durable top-line expansion supports scaling of production and aftermarket services, improving potential unit economics and long-term market penetration.
Negative Factors
Very High Leverage
Debt-to-equity near 9.34x materially elevates financial risk and constrains flexibility. High leverage reduces the firm's ability to fund R&D, scale manufacturing, or absorb shocks without dilutive or costly financing, impeding sustainable long-term growth execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained TTM revenue growth of +35.6% indicates meaningful demand traction for Vision Marine's E-Motion systems and related services. Durable top-line expansion supports scaling of production and aftermarket services, improving potential unit economics and long-term market penetration.
Read all positive factors
Vision Marine Technologies (VMAR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$793.42K
Dividend YieldN/A
Average Volume (3M)292.55K
Price to Earnings (P/E)―
Beta (1Y)0.63
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees46
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Recreational Vehicles
Share Statistics
EPS (TTM)-668.75
Shares Outstanding2,047,000
10 Day Avg. Volume202,354
30 Day Avg. Volume292,548
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.20
Price to Sales (P/S)0.09
P/FCF Ratio-0.13
Enterprise Value/Market Cap39.65
Enterprise Value/Revenue0.72
Enterprise Value/Gross Profit3.87
Enterprise Value/Ebitda-1.74
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-260.6
Revenue Forecast (FY)$15.00M
Vision Marine Technologies Business Overview & Revenue Model
Company Description
Vision Marine Technologies Inc. designs, develops, and manufactures electric outboard powertrain systems and electric boats in Canada, the United States, and internationally. It operates in two segments, Sale of Electric Boats and Rental of Electr...
How the Company Makes Money
Vision Marine primarily generates revenue by selling its electric marine propulsion products and related solutions. Key revenue streams include: (1) product sales of the E-Motion™ electric outboard/powertrain system and associated propulsion compo...
Vision Marine Technologies Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
18
Very Negative
Cash Flow
22
Negative
| Breakdown | TTM | Aug 2025 | Aug 2024 | Aug 2023 | Aug 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 43.80M | 13.83M | 3.76M | 5.68M | 7.59M | 3.48M |
| Gross Profit | 8.14M | 295.76K | -2.84M | 952.84K | 3.11M | 1.41M |
| EBITDA | -18.05M | -20.07M | -12.98M | -20.07M | -12.09M | -14.32M |
| Net Income | -15.48M | -21.65M | -14.01M | -21.00M | -13.53M | -14.96M |
Balance Sheet | ||||||
| Total Assets | 58.63M | 50.90M | 8.46M | 17.84M | 29.10M | 38.80M |
| Cash, Cash Equivalents and Short-Term Investments | 4.06M | 5.40M | 46.79K | 2.48M | 5.82M | 18.15M |
| Total Debt | 34.70M | 33.92M | 532.53K | 2.29M | 2.64M | 3.03M |
| Total Liabilities | 49.14M | 44.75M | 6.23M | 9.24M | 5.07M | 5.28M |
| Stockholders Equity | 9.49M | 6.15M | 2.23M | 8.61M | 24.03M | 33.53M |
Cash Flow | ||||||
| Free Cash Flow | -3.89M | -9.16M | -12.24M | -14.95M | -12.20M | -9.32M |
| Operating Cash Flow | -3.11M | -8.93M | -11.64M | -14.01M | -11.00M | -8.25M |
| Investing Cash Flow | 4.85M | 1.54M | 615.61K | -537.02K | -964.50K | -9.47M |
| Financing Cash Flow | -11.38M | 14.76M | 7.73M | 12.08M | -361.78K | 34.57M |
Vision Marine Technologies Technical Analysis
Negative
0.15
Price Trends
1.23
Negative
2.17
Negative
23.88
Negative
Market Momentum
-0.23
Negative
20.49
Positive
18.28
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VMAR, the sentiment is Negative. The current price of 0.15 is below the 20-day moving average (MA) of 0.67, below the 50-day MA of 1.23, and below the 200-day MA of 23.88, indicating a bearish trend. The MACD of -0.23 indicates Negative momentum. The RSI at 20.49 is Positive, neither overbought nor oversold. The STOCH value of 18.28 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VMAR.
Vision Marine Technologies Risk Analysis
Vision Marine Technologies disclosed 65 risk factors in its most recent earnings report. Vision Marine Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our share price and trading volume could decline. Q3, 2023
2.
Investment in our common shares is speculative and involves a high degree of risk. You may lose your entire investment. Q3, 2023
3.
We have a significant number of warrants which are currently exercisable for shares of our common shares, and the exercise thereof would increase the number of shares eligible for future resale in the public market and result in dilution to our stockholders. Q3, 2023
Vision Marine Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $536.84M | 32.52 | 5.95% | ― | 9.79% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $169.17M | -1.38 | -40.11% | ― | 3.16% | -1540.48% | |
43 Neutral | $3.04M | >-0.01 | -16.81% | ― | -3.07% | 83.70% | |
43 Neutral | $3.11M | -0.10 | -55.71% | ― | 19.23% | 65.04% | |
39 Underperform | $793.42K | -0.01 | ― | ― | ― | ― |
* Consumer Cyclical Sector Average
VMAR
Vision Marine Technologies
0.39
-314.81
-99.88%
MCFT
MasterCraft Boat Holdings
21.97
3.62
19.73%
ONEW
OneWater Marine
10.18
-5.32
-34.32%
EZGO
EZGO Technologies
1.32
-1,296.18
-99.90%
VEEE
Twin Vee PowerCats
5.87
-86.07
-93.62%
Vision Marine Technologies Corporate Events
Vision Marine Technologies to Begin Dual Trading on TSX Venture Exchange May 1
Apr 29, 2026
On April 29, 2026, Vision Marine Technologies announced that its common shares will begin trading on the TSX Venture Exchange on May 1, 2026, under the symbol VMAR, while maintaining its primary listing on the Nasdaq Capital Market. As a Canadian-...
Vision Marine Wins Conditional TSX Venture Listing, Bolstering Capital Markets Reach
Apr 27, 2026
On April 27, 2026, Vision Marine Technologies announced it had received conditional approval to list its common shares on the TSX Venture Exchange, adding a Canadian venue to its existing Nasdaq listing. The dual-listing strategy is designed to br...
Vision Marine Technologies Shareholders Approve Equity Plans and CEO Grants, Raise $1.26 Million via ATM
Apr 3, 2026
At its annual general meeting on February 28, 2026, Vision Marine Technologies shareholders re-elected the company’s board of directors and ratified MK CPAs as independent auditor, with 17.53% of outstanding shares represented, constituting ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.