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 3,872 - -
Change - -63.54% 19.2% 132.22% 103.1% -27.21% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 4,126 4,197 4,281
Change - -63.54% -7.92% 165.91% 119.29% -18.79% 1.72% 2.01%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -26.8x -45.4x 90.4x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 8.02x 7.7x 6.18x
PEG - -0.2x 0.2x 0.8x 1.5x 1.6x 1.1x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 3.18x 2.36x 1.81x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 3.39x 2.56x 2x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -84.7x 183x 33.3x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -28.8x -50.1x 80.8x
EV / FCF -16.9x -5.47x -6.79x -111x -196x -40x 76.6x 19.4x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% -2.5% 1.3% 5.16%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.865 -1.102 0.5533
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,217 1,642 2,136
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 -144.8 -88.1 38.31
Net Debt 1 - - -256.6 -302.3 -238.7 253.9 324.7 408.9
Reference price 2 42.11 13.68 16.13 36.68 71.18 50.03 50.03 50.03
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.($)
16.54x1.83x - 2.94% 101B
11.06x - - 1.28% 78.85B
6.89x - - 1.68% 65.36B
12.17x1.16x - 3.26% 48.55B
11.47x - - 2.55% 39.89B
11.9x0.88x - 2.87% 40.08B
15.49x1.98x - 2.26% 32.91B
9.29x2.35x - 0.17% 33.29B
8.62x - - 0.94% 32.54B
Average 11.49x 1.64x 2% 52.48B
Weighted average by Cap. 11.89x 1.64x 2.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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