Vision Marine Technologies Inc. (VMAR) AI Stock Analysis
VMAR AI stock analysis summary
AI ResearchVision Marine Technologies Inc. (VMAR) designs and manufactures electric boats and electric outboard powertrain systems. While trailing twelve-month revenue reached $62.0M with a 5-year revenue CAGR of 42.5%, the company generated a net income of -$21.7M in FY2025. The balance sheet carries $27.1M in total debt against $1.2M in cash and short-term investments as of May 31, 2026.
- Market cap
- $4.0M
- Revenue (TTM)
- $62.0M
- P/E
- — fwd 8.2x
- 1Y return
- -99.9% S&P 500 16.8%
- Avg. target
- $10.85 79.4% vs last close
Bull case
- Trailing twelve-month revenue reached $62.0M, supported by quarterly year-over-year revenue growth of 8618.8% for the period ended May 31, 2026.
- The 5-year revenue CAGR from FY2020 to FY2025 was 42.5%, led by 267.6% annual revenue growth in FY2025 to $13.8M.
- The stock trades at a price-to-sales multiple of 0.1x, below the median of 0.7x for its US-listed Consumer Cyclical peers.
Bear case
- The company remains unprofitable, recording net income of -$21.7M in FY2025 and an annual operating margin of -74.6%.
- Net debt stood at $25.9M as of May 31, 2026, with cash of $1.2M against $27.1M in total debt.
- Free cash flow has remained negative each year, including -$9.2M in FY2025 and -$12.2M in FY2024.
What Vision Marine Technologies does
Vision Marine Technologies Inc., based in Boisbriand, Canada, designs, develops, and manufactures electric outboard powertrain systems and electric boats for Canadian, U.S., and international markets. The company operates through two segments: Sale of Electric Boats and Rental of Electric Boats. Its offerings include electric outboard motors, boat parts, and related maintenance services. Founded in 1995 as The Canadian Electric Boat Company and later rebranded, it operates an electric boat rental center in Newport Beach, California, with a fleet of approximately 20 ships. Products are distributed via retail e-commerce, rental companies, distributors, and dealers to original equipment manufacturers and consumers. The company is a subsidiary of West Island Brands Inc.
Growth and profitability
Revenue rose from $3.5M in FY2021 to $13.8M in FY2025, reflecting a 5-year CAGR of 42.5% from FY2020 to FY2025. Annual revenue expanded 267.6% in FY2025 after falling 33.8% in FY2024 to $3.8M and 25.1% in FY2023 to $5.7M. Gross margin shifted from 40.4% in FY2021 and 41.0% in FY2022 to -75.6% in FY2024, before recovering to 2.1% in FY2025. Operating margin remained negative across all reported years, standing at -74.6% in FY2025. Net income was -$21.7M in FY2025, compared to -$14.0M in FY2024. For the trailing twelve months ended May 31, 2026, revenue was $62.0M with quarterly revenue growth of 8618.8% year-over-year and a profit margin of -39.8%.
Balance sheet and cash flow
As of May 31, 2026, Vision Marine Technologies held $1.2M in cash and short-term investments and $27.1M in total debt, resulting in net debt of $25.9M. Shareholders' equity was $6.0M, and total assets stood at $45.2M. The company had a current ratio of 1.26 and a debt-to-equity ratio of 4.49. In FY2025, operating cash flow was -$8.9M, while free cash flow stood at -$9.2M, with capital expenditures of $227,353.
Valuation and performance
Vision Marine Technologies has a market capitalization of $4.0M and an enterprise value of $31.1M. The stock trades at a forward P/E of 8.2x, below the 14.1x median of its US-listed Consumer Cyclical peers. Its price-to-sales ratio of 0.1x compares to the peer median of 0.7x, while its EV-to-revenue ratio is 0.5x and its price-to-book ratio is 0.8x. Over the past year, the shares returned -99.9%, compared to a 16.8% gain for the S&P 500 (SPY). Over five years, the stock returned -100.0% versus an 83.0% gain for the S&P 500.
What analysts expect
Analysts have a mean price target of $10.85 for VMAR, which is 79.4% above its October 16, 2026 closing price of $6.05. Over the last four quarters, the company delivered 3 EPS beats. Next fiscal year revenue estimates stand at $0. The next earnings date is November 27, 2026.
Key risks and what to watch
- Total debt of $27.1M significantly exceeds cash and short-term investments of $1.2M as of May 31, 2026, with a debt-to-equity ratio of 4.49.
- The company generated negative operating cash flow of -$8.9M in FY2025, continuing an ongoing trend of operating cash burn.
- The stock has dropped 99.9% over the past year and trades 95.8% below its 200-day moving average.
- The next fiscal year revenue estimate from analysts currently stands at $0.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this VMAR AI stock analysis
This page is an AI-written research summary of Vision Marine Technologies Inc. (VMAR). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: VMAR income statement, VMAR key metrics, VMAR analyst forecast, VMAR chart. See the VMAR stock overview for the latest quote and news.
VMAR AI stock analysis FAQ
What was Vision Marine Technologies' revenue in FY2025?
Vision Marine Technologies reported FY2025 revenue of $13.8M, representing 267.6% growth over the $3.8M recorded in FY2024.
Does Vision Marine Technologies pay a dividend?
Vision Marine Technologies does not pay a dividend.
What is Vision Marine Technologies' debt level?
As of May 31, 2026, the company carried $27.1M in total debt, $1.2M in cash and short-term investments, and net debt of $25.9M.
What is the consensus analyst price target for VMAR?
The mean analyst price target is $10.85, which represents a 79.4% premium to the last closing price of $6.05 on October 16, 2026.