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VMAR · Nasdaq · United States · Ship & Boat Building & Repairing
In shortVision Marine Technologies Inc. is loss-making, burns cash and holds more cash than debt, with revenue shrinking (−23.1% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | – | n/a |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -369.4% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -117.3% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.75× | 79/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.03× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | – | n/a |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -264.5% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 0 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 1 of 5 | 20/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 68.7% | 0/100 |
| Operating margin volatility | – | n/a |
Weight in the score: 20%
| Revenue growth, 3-year average | 32.7% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2023 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
1 older year available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
CAD millions; negative values in parentheses.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 |
|---|---|---|---|---|---|
| Revenue | 2.9 | 2.4 | 3.5 | 7.4 | 5.7 |
| Cost of revenue | 1.6 | 1.8 | 1.9 | 4.1 | 4 |
| Gross profit | 1.3 | 0.6 | 1.6 | 3.3 | 1.5 |
| Research & development | – | – | 1.5 | 2.2 | 5.7 |
| Pre-tax income | 0.3 | (2.3) | (15) | (13) | (21) |
| Income tax | 0.1 | 0 | 0.1 | 0.3 | (0.3) |
| Net income | 0.2 | (2.3) | (15) | (13) | (21) |
| Diluted EPS | C$0.06 | −C$0.56 | −C$2.04 | −C$1.58 | −C$2.22 |
| Diluted shares (millions) | 3.7 | 4.2 | 7.4 | 8.3 | 9.3 |
1 older year available with the 10-year history. Essential plan, from €8.25/month →
Not computed: a required balance-sheet item is missing.
2/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Aug 31, 2025 · Data updated Jul 11, 2025