Vision Marine Technologies (VMAR)
NASDAQ:VMAR
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Vision Marine Technologies
(NASDAQ:VMAR)
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Rating:42Neutral
Price Target:
$2.00
▲(1233.33% Upside)
Action:ReiteratedDate:03/17/26
The score is held down primarily by weak financial quality (large losses, thin margins, leverage risk, and negative free cash flow) and bearish technicals (price below major moving averages with negative MACD). Valuation provides limited support due to a negative P/E and no dividend yield data.
Positive Factors
Strong Revenue Growth
A sustained ~157% TTM revenue jump to ~$35.6M signals growing demand for the company’s products and initial commercial traction. Strong top-line momentum supports scaling opportunities, concentration on unit economics improvement, and provides a base for durable margin recovery if cost structure and pricing improve.
Negative Factors
Very Low Gross Margins
A ~4.3% gross margin is structurally limiting: it constrains operating leverage and makes profitability highly sensitive to input costs, warranty and service expenses. Sustained low margins mean the business needs significant scale or pricing power to reach durable profitability and fund reinvestment.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
A sustained ~157% TTM revenue jump to ~$35.6M signals growing demand for the company’s products and initial commercial traction. Strong top-line momentum supports scaling opportunities, concentration on unit economics improvement, and provides a base for durable margin recovery if cost structure and pricing improve.
Read all positive factors
Vision Marine Technologies (VMAR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.94M
Dividend YieldN/A
Average Volume (3M)292.55K
Price to Earnings (P/E)―
Beta (1Y)0.93
Revenue Growth-66.16%
EPS Growth78.81%
CountryUS
Employees46
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Recreational Vehicles
Share Statistics
EPS (TTM)-34.56
Shares Outstanding996,695
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 Cap20.65
Enterprise Value/Revenue0.99
Enterprise Value/Gross Profit9.87
Enterprise Value/Ebitda-1.55
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
18
Very Negative
Balance Sheet
27
Negative
Cash Flow
16
Very Negative
| Breakdown | TTM | Aug 2025 | Aug 2024 | Aug 2023 | Aug 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.58M | 19.00M | 3.76M | 5.68M | 7.59M | 3.48M |
| Gross Profit | 4.07M | 406.26K | -2.84M | 952.84K | ― | 1.41M |
| EBITDA | -25.85M | -27.57M | -12.98M | -20.07M | -12.09M | -14.32M |
| Net Income | -16.42M | -29.74M | -14.01M | -21.00M | -13.53M | -14.96M |
Balance Sheet | ||||||
| Total Assets | 59.66M | 69.91M | 8.46M | 17.84M | 29.10M | 38.80M |
| Cash, Cash Equivalents and Short-Term Investments | 2.30M | 7.42M | 46.79K | 2.48M | 5.82M | 18.15M |
| Total Debt | 39.74M | 46.60M | 532.53K | 2.29M | 2.64M | 3.03M |
| Total Liabilities | 55.41M | 61.46M | 6.23M | 9.24M | 5.07M | 5.28M |
| Stockholders Equity | 4.25M | 8.45M | 2.23M | 8.61M | 24.03M | 33.53M |
Cash Flow | ||||||
| Free Cash Flow | -5.00M | -12.58M | -12.24M | -14.95M | -12.20M | -9.32M |
| Operating Cash Flow | -4.54M | -12.27M | -11.64M | -14.01M | -11.00M | -8.25M |
| Investing Cash Flow | 7.40M | 2.12M | 615.61K | -537.02K | -964.50K | -9.47M |
| Financing Cash Flow | -358.43K | 20.27M | 7.73M | 12.08M | -361.78K | 34.57M |
Vision Marine Technologies Technical Analysis
Negative
0.15
Price Trends
2.51
Negative
12.25
Negative
69.32
Negative
Market Momentum
-0.29
Negative
25.74
Positive
38.23
Neutral
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 2.12, below the 50-day MA of 2.51, and below the 200-day MA of 69.32, indicating a bearish trend. The MACD of -0.29 indicates Negative momentum. The RSI at 25.74 is Positive, neither overbought nor oversold. The STOCH value of 38.23 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $348.53M | 31.53 | 8.43% | ― | -12.17% | ― | |
67 Neutral | $264.32M | 26.91 | 8.92% | 6.03% | -12.30% | -29.51% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
45 Neutral | $168.96M | -5.80 | -33.00% | ― | 5.62% | -1706.59% | |
42 Neutral | $1.94M | -0.31 | ― | ― | -66.16% | 78.81% | |
42 Neutral | $27.15M | >-0.01 | -16.81% | ― | -1.08% | 97.76% | |
40 Underperform | $5.85M | -0.40 | -52.42% | ― | -34.70% | 36.13% |
* Consumer Cyclical Sector Average
VMAR
Vision Marine Technologies
1.95
-229.65
-99.16%
MPX
Marine Products
7.50
0.00
0.00%
MCFT
MasterCraft Boat Holdings
21.60
5.80
36.71%
ONEW
OneWater Marine
10.17
-3.04
-23.01%
EZGO
EZGO Technologies
1.30
-6.58
-83.50%
VEEE
Twin Vee PowerCats
0.30
-2.44
-89.12%
Vision Marine Technologies Corporate Events
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 ...
Vision Marine Technologies Renews CFO Employment Agreement Through 2028
Mar 3, 2026
On March 1, 2026, Vision Marine Technologies Inc. renewed the executive employment agreement of its chief financial officer, Raffi Sossoyan, ensuring his continued service as CFO through March 1, 2028. The new contract replaces a prior March 1, 20...
Vision Marine Technologies Sets Up US$16.3 Million At-the-Market Equity Program with ThinkEquity
Jan 26, 2026
On January 23, 2026, Vision Marine Technologies Inc. entered into an at-the-market sales agreement with ThinkEquity LLC, allowing the company to issue and sell up to US$16.34 million of its common shares from time to time through the agent under a...
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.