Company Valuation: Lemonade, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,595 946.2 1,128 2,619 5,319 4,416 - -
Change - -63.54% 19.2% 132.22% 103.1% -16.97% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 4,691 4,819 4,943
Change - -63.54% -7.92% 165.91% 119.29% -7.67% 2.72% 2.59%
P/E Ratio -10.7x -2.98x -4.74x -12.9x -31.8x -33.1x -69.6x 133x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 9.21x 9.38x 7.32x
PEG - -0.2x 0.2x 0.8x 1.5x 1.5x 1.3x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 3.66x 2.74x 2.1x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 3.89x 2.99x 2.35x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -95.2x 166x 36.1x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -33x -59.6x 83.8x
EV / FCF -16.9x -5.47x -6.79x -111x -196x 95.7x 47.4x 15.1x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% 1.04% 2.11% 6.61%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.739 -0.8258 0.4325
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,206 1,614 2,103
EBITDA 1 -184.2 -225.1 -172.6 -149.7 -118.1 -49.29 28.99 136.8
EBIT 1 -230.1 -286.6 -229.8 -203.9 -160.9 -142.1 -80.9 59
Net income 1 -241.3 -297.8 -236.9 -202.2 -165.5 -134.5 -66.29 36.54
Net Debt 1 - - -256.6 -302.3 -238.7 274.6 402.3 527
Reference price 2 42.11 13.68 16.13 36.68 71.18 57.49 57.49 57.49
Nbr of stocks (in thousands) 61,627 69,164 69,924 71,405 74,731 76,821 - -
Announcement Date 2/23/22 2/22/23 2/27/24 2/25/25 2/19/26 - - -
1USD in Million2USD
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-33.16x3.87x-94.94x - 4.39B
19.81x1.69x - 2.93% 86.43B
10.84x - - 1.58% 64.62B
7.92x - - 1.97% 56.52B
10.13x1.02x - 3.7% 41.16B
10.98x - - 2.6% 39.94B
8.1x - - 0.95% 37.51B
17.23x2.16x - 2.07% 35.97B
10.04x0.92x - 2.43% 34.33B
9.02x2.11x - 0.22% 31.71B
Average 7.09x 1.96x -94.94x 2.05% 43.26B
Weighted average by Cap. 11.85x 1.63x -94.94x 2.16%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Lemonade, Inc.
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