Vision Marine Technologies Inc. (VMAR) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-K for FY2025, filed Nov 28, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VMAR SEC filings page.
Vision Marine Technologies Inc. (VMAR) reported $13.8M in revenue for fiscal year 2025, up 395.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Sales expanded sharply, but losses remained larger than operating cash use while inventory and outside financing carried the balance sheet.
Revenue reached$13.8M in FY2025 from$2.8M in FY2024, but this scale-up did not automatically improve the economics. Operating cash flow was-$8.9M against a net loss of$21.7M , indicating reported losses did not translate one-for-one into cash outflow because non-cash or working-capital items softened the cash effect.
Inventory reached
Liabilities were
Financial Health Signals
Vision Marine Technologies Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Vision Marine Technologies Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
Vision Marine Technologies Inc. reported a net loss of $21.7M while operations used $8.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Vision Marine Technologies Inc. held $7.4M in cash against $5.3M in long-term debt as of Q4 2025.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
VMAR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
VMAR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q4'2410-K | Q4'2310-K |
|---|---|---|---|
| Total Assets | $69.9M+726.8% | $8.5M-52.6% | $17.8M |
| Current Assets | $59.0M+823.7% | $6.4M+1.8% | $6.3M |
| Cash & Equivalents | $7.4M+15755.1% | $47K-98.1% | $2.5M |
| Inventory | $36.9M+701.1% | $4.6M+154.7% | $1.8M |
| Accounts Receivable | $483K+370.1% | $103K-74.7% | $407K |
| Goodwill | N/A | N/A | $7.2M |
| Total Liabilities | $61.5M+887.1% | $6.2M-32.6% | $9.2M |
| Current Liabilities | $49.7M+748.1% | $5.9M-23.8% | $7.7M |
| Non-Current Liabilities | $11.8M+3107.3% | $367K-76.3% | $1.5M |
| Long-Term Debt | $5.3M+5130.1% | $102K-93.1% | $1.5M |
| Total Equity | $8.5M+279.1% | $2.2M-74.1% | $8.6M |
| Retained Earnings | -$71.6M-43.4% | -$49.9M-26.3% | -$39.5M |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
VMAR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
VMAR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Vision Marine Technologies Inc. VMAR | FY2025 | $13.8M | -$21.7M | N/A | $3.8M | — |
| Twin Vee PowerCats Co. VEEE | FY2025 | $14.8M | -$8.6M | -58.1% | $5.2M | 32/100 |
| EZGO Technologies Ltd. EZGO | FY2024 | $21.1M | -$7.3M | -34.5% | $4.5M | — |
| Kandi Technologies Group, Inc. KNDI | FY2025 | $87.4M | -$93.9M | N/A | $57.9M | 57/100 |
| Massimo Group MAMO | FY2025 | $71.8M | $1.5M | 2.1% | $39.5M | 44/100 |
| MasterCraft Boat Holdings, Inc. MCFT | FY2026 | $348.9M | -$1.7M | -0.5% | $467.3M | 49/100 |
Where Vision Marine Technologies Inc. Ranks
Frequently Asked Questions
What is Vision Marine Technologies Inc.'s annual revenue?
Vision Marine Technologies Inc. (VMAR) reported $13.8M in total revenue for fiscal year 2025. This represents a 395.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Vision Marine Technologies Inc.'s revenue growing?
Vision Marine Technologies Inc. (VMAR) revenue grew by 395.9% year-over-year, from $2.8M to $13.8M in fiscal year 2025.
Is Vision Marine Technologies Inc. profitable?
No, Vision Marine Technologies Inc. (VMAR) reported a net income of -$21.7M in fiscal year 2025.
How much debt does Vision Marine Technologies Inc. have?
As of fiscal year 2025, Vision Marine Technologies Inc. (VMAR) had $7.4M in cash and equivalents against $5.3M in long-term debt.
What is Vision Marine Technologies Inc.'s return on equity (ROE)?
Vision Marine Technologies Inc. (VMAR) has a return on equity of -256.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Vision Marine Technologies Inc.'s free cash flow?
Vision Marine Technologies Inc. (VMAR) recorded an outflow of $9.2M in free cash flow during fiscal year 2025. This represents a -5.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Vision Marine Technologies Inc.'s operating cash flow?
Vision Marine Technologies Inc. (VMAR) recorded an outflow of $8.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Vision Marine Technologies Inc.'s total assets?
Vision Marine Technologies Inc. (VMAR) had $69.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Vision Marine Technologies Inc.'s capital expenditures?
Vision Marine Technologies Inc. (VMAR) invested $227K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Vision Marine Technologies Inc.'s current ratio?
Vision Marine Technologies Inc. (VMAR) had a current ratio of 1.19 as of fiscal year 2025, which is considered adequate.
What is Vision Marine Technologies Inc.'s debt-to-equity ratio?
Vision Marine Technologies Inc. (VMAR) had a debt-to-equity ratio of 0.63 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Vision Marine Technologies Inc.'s return on assets (ROA)?
Vision Marine Technologies Inc. (VMAR) had a return on assets of -31.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Vision Marine Technologies Inc.'s P/E ratio?
Vision Marine Technologies Inc. (VMAR) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $3.8M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Vision Marine Technologies Inc.'s price-to-sales ratio?
Vision Marine Technologies Inc. (VMAR) trades at 0.3x sales, its market capitalization divided by revenue of $13.8M revenue, FY2025. The market capitalization is $3.8M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Vision Marine Technologies Inc.'s Piotroski F-Score?
Vision Marine Technologies Inc. (VMAR) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Vision Marine Technologies Inc.'s earnings high quality?
Vision Marine Technologies Inc. (VMAR) reported a net loss of $21.7M while operations used $8.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.