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 3,760 - -
Change - -63.54% 19.2% 132.22% 103.1% -29.32% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 4,014 4,085 4,169
Change - -63.54% -7.92% 165.91% 119.29% -21% 1.77% 2.06%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -26x -44.1x 87.8x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 7.79x 7.48x 6x
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 3.09x 2.29x 1.76x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 3.3x 2.49x 1.95x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -82.4x 178x 32.5x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -28x -48.7x 78.7x
EV / FCF -16.9x -5.47x -6.79x -111x -196x -38.9x 74.6x 18.9x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% -2.57% 1.34% 5.3%
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 48.58 48.58 48.58
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.($)
16.73x1.97x - 2.91% 101B
11.1x - - 1.27% 79.15B
6.72x - - 1.72% 63.77B
13.58x1.21x - 3.23% 48.66B
11.38x - - 2.57% 39.57B
11.45x0.88x - 2.89% 39.91B
8.71x - - 0.93% 32.88B
15.52x1.98x - 2.26% 32.8B
9.17x2.32x - 0.17% 32.86B
Average 11.60x 1.67x 1.99% 52.31B
Weighted average by Cap. 12.03x 1.70x 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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