Vision Marine Technologies Inc. key statistics and ratios

In fiscal 2023, Vision Marine Technologies Inc. had return on equity of -115.3%, a net margin of -369.4%, debt equal to 2.6% of equity and a current ratio of 1.75. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Vision Marine Technologies Inc.: financial ratios, annual
Fiscal year	2018Aug 2018	2019Aug 2019	2020Aug 2020	2021Aug 2021	2022Aug 2022	2023Aug 2023
Gross margin	39.5%	44.8%	25.0%	45.7%	44.7%	27.2%
Net margin	−14.6%	8.1%	−94.1%	−430.1%	−178.4%	−369.4%
Free-cash-flow margin	9.7%	−10.0%	−21.2%	−250.3%	−165.6%	−264.5%
Return on equity	—	—	—	−87.8%	−45.9%	−115.3%
Return on assets	—	12.2%	−80.0%	−71.2%	−38.9%	−77.5%
Asset turnover	—	1.50	0.85	0.17	0.22	0.21
Current ratio	—	0.94	1.28	7.91	4.04	1.75
Debt to equity	—	—	52.0%	0.2%	0.9%	2.6%
Effective tax rate	—	21.6%	—	—	—	—
R&D as % of revenue	—	—	—	42.4%	30.5%	100.9%
Capital spending as % of revenue	0.1%	6.1%	3.2%	15.5%	16.0%	16.6%
Free cash flow ÷ net income	—	−123.7%	—	—	—	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 5 checks passed · August 31, 2023

What it owns · $18m

Short-term assets $6mLonger-term assets $11m

What it owes, and who funded it · $18m

Short-term liabilities $4mLonger-term liabilities $6mShareholders' equity $9m

Short-term assets cover short-term liabilities $6m of assets due within a year against $4m of liabilities due within a year.
Short-term assets cover long-term liabilities $6m short-term assets against $6m of longer-dated liabilities.
More cash than debt $2m of cash against $225,518 of debt.
Debt below 40% of shareholders' equity Debt is 3% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt −$10m of operating cash flow against $225,518 of debt.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Vision Marine Technologies Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Vision Marine Technologies Inc.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Vision Marine Technologies Inc.