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Vision Marine Technologies Inc.

VMAR Consumer Cyclical Recreational Vehicles

Vision Marine Technologies Inc.’s revenue for fiscal 2025 (year ended August 2025) was $13.8 million, up 395.8% from fiscal 2024.

Revenue: +8,619.1%
EPS: +98.4%
Free cash flow: +183.4%
Total debt: +7,753.6%

Quarter to May 2026, against a year earlier

Insider buying

5.38 0.67 −11.07%

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Market cap: $3.6M
P/E: 0.0×
Fwd P/E: 0.0×
Dividend yield: —
F-score: 4/9
Altman Z: −1.45
Beneish M: 18.34
Dividend safety: n/a

Overview

Insider Decisions last twelve months

Bought, $m 0.23

Sold, $m 0.16

Trades a month
	Jan 26			Apr 26			Jul 26			Oct 26
Buy	—	—	—	—	—	—	7	2	—	—	—	—
Sell	—	—	—	—	—	—	5	3	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Size

Market Cap 3.62

Revenue ttm 62.04

Net income ttm (24.71)

Free cash flow ttm 3.82

Net debt Q 17.67

Valuation

P/E 0.00

Forward P/E (0.02)

Price / sales 0.02

Forward P/S Powerpack

Price / FCF 0.28

Price / book 0.18

Financial health

Current ratio Q 1.26

Debt / equity Q 3.13

Interest coverage Q (14.47)

Growth

Revenue growth Q +8,619.13%

Operating income growth Q −99.48%

EPS, this year +99.29%

EPS, next year A +40.58%

Revenue, next year A +31.66%

EPS, past 5 yrs —

EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 0.07%

10-year low 10-year high

P/B against its own 10 years 0.07%

10-year low 10-year high

EV/Sales against its own 10 years 0.07%

10-year low 10-year high

Dividends

Yield: —
Annual rate: —
Payout ratio: —

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	2	0	7	1
Receivables	0	0	11	7
Inventory	2	5	37	21
Other	0	0	0	0
	6	6	59	33

	2023	2024	2025	Q'26
Payables	1	3	9	8
ST’ Debt	0	0	33	11
Other	2	2	6	4
	4	6	50	26

Compound Annual Growth %

	10y	5y	3y
Sales	—	50.39%	33.77%
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	70.35%	(23.52%)

Earnings Trends EPS, adjusted, against the consensus

May 2025 Estimate −6,680.00 Actual −18,600.00

−1,675,027.70 −1,203,538.13 −732,048.56 −260,559.00 210,930.57

Nov 2023 Beat +215,913.69

Feb 2024 Miss −377,848.88

Nov 2024 Beat +909,999.94

May 2025 Miss −11,920.00

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Nov 2023	−1,241,503.50	−1,025,589.81	Beat by 215,913.69
Feb 2024	−1,079,568.25	−1,457,417.13	Miss by 377,848.88
Nov 2024	−967,199.94	−57,200.00	Beat by 909,999.94
May 2025	−6,680.00	−18,600.00	Miss by 11,920.00

EPS $

	Nov	Feb	May	Aug	Year
’26	(356.15)	(23.23)	(29.10)	—	—
’25	(5.63k)	(1.59k)	(1.86k)	(3.01k)	(9.81k)
’24	35.05k	(288.50k)	(97.80k)	(103.77k)	(454.26k)
’23	(322.64k)	(307.27k)	(126.71k)	(170.23k)	(902.99k)
’22	(177.00k)	(215.71k)	(98.39k)	(178.61k)	(669.21k)
’21	(118.96k)	(235.93k)	(260.50k)	—	(868.35k)
’20	(14.31k)	(21.65k)	—	—	(218.74k)

Fiscal quarters ending in the months shown.

Revenue $m

	Nov	Feb	May	Aug	Year
’26	16	15	18	—	—
’25	0	0	0	13	14
’24	1	1	0	1	3
’23	1	1	1	2	4
’22	1	1	2	3	6
’21	0	0	1	2	3
’20	—	0	—	—	2

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Nov	Feb	May	Aug	Year
’26	2	(1)	2	—	—
’25	(4)	(4)	(2)	2	(9)
’24	(3)	(4)	(1)	0	(8)
’23	(3)	(2)	(3)	(2)	(10)
’22	(3)	(3)	(1)	(1)	(9)
’21	—	(4)	(3)	0	(7)
’20	—	0	—	—	0

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Nov	Feb	May	Aug	Year
’26	2	(2)	2	—	—
’25	(4)	(4)	(3)	2	(9)
’24	(3)	(5)	(1)	0	(9)
’23	(3)	(2)	(3)	(2)	(11)
’22	(3)	(4)	(1)	(1)	(9)
’21	—	(4)	(3)	0	(7)
’20	—	0	—	—	0

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM May ’26	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
													Ten-year view		Analyst estimates Powerpack
Income, $m
Income, $m	Revenue	—	—	1	2	2	3	6	4	3	14	62		+45.6%	18	—	—	+31.7%
	Gross margin, %	—	—	31.15	25.00	25.00	45.65	44.70	27.18	39.48	34.46	26.70		+3.3 pt	Powerpack Vision Marine Technologies Inc.’s next three years, line by line Analysts expect revenue to grow 31.7% a year to 2028 — slower than the 45.6% of the last 7 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	—	—	0	(2)	(2)	(12)	(10)	(16)	(11)	(22)	(25)		+160.3%
	EBT margin, %	—	—	(2.68)	(93.26)	(93.26)	(427.13)	(174.86)	(374.38)	(378.61)	(156.47)	(39.86)		(153.8) pt
	Net income	—	0	0	0	(2)	(12)	(10)	(15)	(10)	(22)	(25)		n/m
Per share, $
Per share, $	Revenue	—	—	143,557.79	0.00	232,345.68	201,877.97	375,184.21	244,443.41	122,047.47	6,269.27	316.01		(36.1%)
	Earnings	—	—	(20,988.43)	25,451.18	(218,738.52)	(868,346.11)	(669,212.43)	(902,991.78)	(454,257.90)	(9,813.21)	(3,420.39)		(10.3%)
	Cash flow	—	—	14,122.09	(12,274.73)	(41,775.96)	(474,074.13)	(561,266.95)	(605,879.65)	(362,218.09)	(4,047.48)	20.89		n/m
	Capex	—	—	0.00	0.00	(7,494.61)	(59,689.97)	(49,227.79)	(23,228.45)	(17,425.35)	(148.07)	(1.42)		n/m
	Free cash flow	—	—	14,122.09	(12,274.73)	(49,270.57)	(533,764.10)	(610,494.74)	(629,108.09)	(379,643.44)	(4,195.54)	19.46		n/m
	Book value	—	—	(44,558.88)	0.00	76,121.93	1,926,141.50	1,226,397.21	500,189.35	97,534.73	3,830.20	30.69		n/m
	Shares, m	—	—	0	0	0	0	0	0	0	0	0		+127.8%
Valuation, ×
Valuation, ×	P/E	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00		0.0
	P/S	—	—	626.01	626.01	626.01	190.23	91.52	90.52	7.74	1.77	0.02		282.5
	P/B	—	—	0.00	0.00	0.00	20.15	28.00	44.24	9.69	2.90	0.18		13.1
	EV/Sales	—	—	627.03	627.03	627.03	185.97	91.01	90.33	7.89	4.12	0.30		282.6
	EV/FCF	—	—	0.00	0.00	0.00	(76.58)	(55.93)	(35.02)	(2.53)	(6.15)	4.90		(22.0)
Cash, $m
Cash, $m	Operating cash flow	—	—	0	0	0	(7)	(9)	(10)	(8)	(9)	4		n/m
	Capex	—	—	0	0	0	(1)	(1)	0	0	0	0		+117.9%
	Free cash flow	—	—	0	0	0	(7)	(9)	(11)	(9)	(9)	4		n/m
Balance, $m
Balance, $m	Working capital	—	—	0	0	0	15	7	3	1	9	7		n/m
	Net debt	—	—	0	(1)	0	(12)	(3)	(1)	0	32	18		+127.8%
	Shareholders’ equity	—	—	0	1	1	26	19	9	2	8	6		n/m
Returns, %
Returns, %	ROA	—	—	(19.04)	(62.66)	(62.66)	(71.58)	(38.55)	(76.11)	(78.94)	(55.26)	(78.85)		(36.2) pt
	ROIC	—	—	0.00	0.00	(214.17)	(45.20)	(39.36)	(120.44)	(231.72)	(15.75)	(36.81)		(15.7) pt
	ROE	—	—	71.24	93.04	275.16	(88.20)	(45.48)	(112.82)	(192.02)	(405.45)	(274.02)		(476.7) pt
People
People	Employees	—	—	—	—	15	22	51	46	20	154	—		+59.3%
	Revenue/emp, $m	—	—	0.00	0.00	0.12	0.13	0.11	0.09	0.14	0.09	—		n/m

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Aug 2025 · latest quarter May 2026 · fundamentals updated 26 Oct 2026

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
MBUU Malibu Boats, Inc.	$406.2M	50.6×	13.3×	+29.89% (above 0%: growing)	n/m	−1,808.53% (below 0%: shrinking)	14.96%	5.20%	Compare
LVWR LiveWire Group, Inc.	$111.0M	— (loss-making)	—	+37.92% (above 0%: growing)	n/m	+7.75% (above 0%: growing)	(4.77%)	(222.65%)	Compare
EMPD Empery Digital Inc.	$61.1M	— (loss-making)	— (loss-making)	−57.94% (below 0%: shrinking)	n/m	+58.28% (above 0%: growing)	(85.25%)	(52,585.50%)	Compare
MAMO Massimo Group	$39.9M	9.7×	—	−21.13% (below 0%: shrinking)	+1,478.95% (above 0%: growing)	+164.77% (above 0%: growing)	48.81%	11.14%	Compare
KNDI Kandi Technologies Group, Inc.	$33.5M	— (loss-making)	— (loss-making)	−16.71% (below 0%: shrinking)	n/m	−880.32% (below 0%: shrinking)	31.30%	(22.47%)	Compare
VEEE Twin Vee PowerCats, Co.	$4.8M	— (loss-making)	4.1×	−19.16% (below 0%: shrinking)	n/m	+37.70% (above 0%: growing)	(13.61%)	(112.15%)	Compare
VMAR Vision Marine Technologies Inc.	$3.6M	— (loss-making)	— (loss-making)	+8,619.13% (above 0%: growing)	n/m	+183.36% (above 0%: growing)	17.35%	(29.11%)
FUVV Arcimoto, Inc.	$3.6M	— (loss-making)	— (loss-making)	−45.15% (below 0%: shrinking)	n/m	+69.65% (above 0%: growing)	(166.81%)	(686.82%)	Compare
EZGO EZGO Technologies Ltd.	$2.9M	— (loss-making)	— (loss-making)	−46.26% (below 0%: shrinking)	−300.00% (below 0%: shrinking)	+46.84% (above 0%: growing)	3.53%	0.00%	Compare
Median of peers	$36.7M	—	—	−20.14%	—	+42.27%	(0.62%)	(67.31%)

All 18 Recreational Vehicles stocks →

Vision Marine Technologies Inc. (VMAR) Latest News

20 Oct

Impact 4 · 6:00 AM · PR Newswire

Vision Marine Technologies Appoints Marine Industry Veteran Mike Nance to Strengthen Nautical Ventures' Florida Sales Leadership

6 Oct

Impact 4 · 7:30 AM · PR Newswire

Vision Marine Technologies Activates Northpoint Inventory Financing Facility for Nautical Ventures

25 Aug

Impact 3 · 12:31 PM

Vision Marine Technologies Files U.S. Patent Application to Advance E-Motion™ Charging Protection

24 Aug

Impact 4 · 6:30 AM

Vision Marine Technologies Signs Letter of Intent for Proposed Business Combination with an Undisclosed Counterparty

19 Aug

Impact 4 · 5:00 AM

Vision Marine Technologies and Avikus, an HD Hyundai Company, Begin NEUBOAT Integration Partnership for E-Motion™ Electric Propulsion

17 Aug

Impact 3 · 6:30 AM

Vision Marine Technologies Strengthens E-Motion™ Technology Portfolio with Issuance of U.S. Powertrain Authentication Patent

5 Aug

Impact 3 · 6:00 AM

Vision Marine Technologies Authorizes Share Repurchase Program to Enhance Capital Allocation Flexibility and Long-Term Shareholder Value

3 Aug

Impact 3 · 8:00 AM

Vision Marine Technologies Advances European E-Motion™ Integration Program with STERK Yachts

28 Jul

Impact 3 · 5:30 AM

Vision Marine Technologies Introduces Connected Battery Monitoring App to Expand the Ownership Experience

21 Jul

Impact 4 · 2:30 PM

Vision Marine Technologies Announces Next Phase of Its Marine Technology Strategy

14 Jul

Impact 3 · 1:10 PM

Vision Marine Technologies Completes US$16.3 Million At-the-Market Equity Offering Program

13 Jul

Impact 3 · 4:58 PM

Vision Marine Technologies Delivers 27% Sequential Q3 Revenue Growth

2 Jul

Impact 3 · 8:19 AM

Vision Marine Technologies Files U.S. Patent Application for Dual-Mode Electric Outboard Trim Control