Is VMAR halal?
Vision Marine Technologies Inc.
Not halal
Vision Marine Technologies Inc. did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NASDAQ
Price
6.05
Day
-8.33%
Market cap
$3.9M
Industry
Recreational Vehicles
Sector
Consumer Cyclical
What the company does
Vision Marine (Canada) makes the E-Motion electric outboard powertrain and electric boats, and also runs a boat dealership in Florida. Its money comes from boat and motor sales.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $27.08M ÷ current market cap $3.92M = 691.0%
691.0%
Fail
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $943K ÷ current market cap $3.92M = 24.1%
24.1%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $157K ÷ annual revenue $13.83M (2025) = 1.1%
1.1%
Pass
Figures from the company's filings (2026-05-31), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict.
For information (AAOIFI 3/1 note): cash + receivables are 17.6% of total assets (2026-05-31). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Manually reviewed — clean
The industry was flagged as sensitive, so the company's filings were checked by hand on 13 August 2026. Conclusion:
Vision Marine — elektr qayiq harakatlantirgichi (E-Motion) va qayiq savdosi/ijarasi
Halal stocks in the same industry
The largest halal stocks in Recreational Vehicles — for comparison.
Related articles
- Halal investingBlogHaram revenue you can't see from the industry label: pork, weapons, casinosPork hides under "Packaged Foods", weapons under "Aerospace & Defense". What automated screening misses and how we catch it by hand.
- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.