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 5,457 - -
Change - -63.54% 19.2% 132.22% 103.1% 2.58% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 5,731 5,807 5,932
Change - -63.54% -7.92% 165.91% 119.29% 12.8% 1.33% 2.15%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -41x -88.5x 140x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 11.3x 11.7x 8.76x
PEG - -0.2x 0.2x 0.8x 1.5x 1.8x 1.6x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 4.52x 3.38x 2.59x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 4.75x 3.6x 2.82x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -116x 201x 42.7x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -40.3x -71.8x 101x
EV / FCF -16.9x -5.47x -6.79x -111x -196x 117x 57.2x 18.1x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% 0.85% 1.75% 5.51%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.734 -0.8027 0.5067
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,207 1,614 2,107
EBITDA 1 -184.2 -225.1 -172.6 -149.7 -118.1 -49.44 28.96 138.9
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 -134.1 -64.73 43.72
Net Debt 1 - - -256.6 -302.3 -238.7 274.6 350.6 475.4
Reference price 2 42.11 13.68 16.13 36.68 71.18 71.03 71.03 71.03
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, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.35x1.7x - 3.21% 87.65B
12.06x - - 1.42% 71.86B
9.09x - - 1.72% 64.66B
11.15x - - 2.46% 42.22B
9.1x1x - 3.75% 40.32B
8.66x - - 0.91% 38.92B
18.3x2.28x - 1.95% 37.65B
11.4x0.85x - 2.53% 36.76B
10.14x2.41x - 0.2% 35.5B
Average 11.80x 1.65x 2.02% 50.61B
Weighted average by Cap. 12.14x 1.65x 2.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA