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 4,077 - -
Change - -63.54% 19.2% 132.22% 103.1% -23.35% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 4,331 4,414 4,512
Change - -63.54% -7.92% 165.91% 119.29% -14.75% 1.91% 2.22%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -28.2x -49x 94.1x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 8.42x 8.52x 6.48x
PEG - -0.2x 0.2x 0.8x 1.5x 1.7x 1.2x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 3.35x 2.49x 1.9x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 3.56x 2.69x 2.11x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -89x 193x 35.1x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -30.2x -52.7x 85.1x
EV / FCF -16.9x -5.47x -6.79x -111x -196x -42x 80.6x 20.4x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% -2.38% 1.24% 4.9%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.865 -1.074 0.56
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,216 1,640 2,142
EBITDA 1 -184.2 -225.1 -172.6 -149.7 -118.1 -48.69 22.92 128.4
EBIT 1 -230.1 -286.6 -229.8 -203.9 -160.9 -143.3 -83.8 53
Net income 1 -241.3 -297.8 -236.9 -202.2 -165.5 -144.5 -87.7 38.1
Net Debt 1 - - -256.6 -302.3 -238.7 253.9 336.5 434.6
Reference price 2 42.11 13.68 16.13 36.68 71.18 52.68 52.68 52.68
Nbr of stocks (in thousands) 61,627 69,164 69,924 71,405 74,731 77,397 - -
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.($)
14.5x1.94x - 3.09% 90.32B
11.24x - - 1.26% 78.34B
8.09x - - 1.62% 68.19B
10.08x1.09x - 3.54% 43.98B
10.57x - - 2.47% 40.58B
11.83x0.9x - 2.41% 39B
16.66x2.12x - 2.1% 34.96B
9.1x - - 0.9% 33.48B
9.4x2.37x - 0.2% 33.39B
Average 11.28x 1.68x 1.96% 51.36B
Weighted average by Cap. 11.42x 1.70x 2.05%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA