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 4,620 - -
Change - -63.54% 19.2% 132.22% 103.1% -13.15% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 4,895 4,971 5,095
Change - -63.54% -7.92% 165.91% 119.29% -3.66% 1.55% 2.51%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -34.8x -73.4x 96.2x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 9.59x 9.92x 7.42x
PEG - -0.2x 0.2x 0.8x 1.5x 1.5x 1.4x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 3.83x 2.85x 2.17x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 4.05x 3.07x 2.39x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -109x 152x 33.3x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -35.3x -65.8x 86.4x
EV / FCF -16.9x -5.47x -6.79x -111x -196x 63.6x 45.2x 22x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% 1.57% 2.21% 4.54%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.728 -0.8191 0.625
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,207 1,621 2,129
EBITDA 1 -184.2 -225.1 -172.6 -149.7 -118.1 -44.76 32.7 152.9
EBIT 1 -230.1 -286.6 -229.8 -203.9 -160.9 -138.5 -75.5 59
Net income 1 -241.3 -297.8 -236.9 -202.2 -165.5 -131.7 -63.92 51.97
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 60.14 60.14 60.14
Nbr of stocks (in thousands) 61,627 69,164 69,924 71,405 74,731 76,821 - -
Announcement Date 23/02/22 22/02/23 27/02/24 25/02/25 19/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.05x1.79x - 3.06% 91.8B
11.34x - - 1.24% 80.77B
9.15x - - 1.66% 66.92B
10.18x1.1x - 3.51% 43.31B
11.21x - - 2.48% 41.92B
13.6x0.9x - 2.41% 38.36B
8.04x - - 0.93% 37.75B
18.71x2.21x - 2.01% 36.77B
10.29x2.45x - 0.19% 35.97B
Average 12.06x 1.69x 1.94% 52.62B
Weighted average by Cap. 12.24x 1.69x 2.02%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA