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 5,074 - -
Change - -63.54% 19.2% 132.22% 103.1% -4.61% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 5,349 5,425 5,549
Change - -63.54% -7.92% 165.91% 119.29% 5.28% 1.42% 2.3%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -38.2x -80.3x 106x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 10.5x 10.9x 8.14x
PEG - -0.2x 0.2x 0.8x 1.5x 1.7x 1.5x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 4.2x 3.13x 2.38x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 4.43x 3.35x 2.61x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -120x 168x 36.3x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -38.6x -70.4x 94.1x
EV / FCF -16.9x -5.47x -6.79x -111x -196x 69.5x 49.3x 24x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% 1.44% 2.03% 4.17%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.728 -0.8227 0.625
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,207 1,619 2,129
EBITDA 1 -184.2 -225.1 -172.6 -149.7 -118.1 -44.7 32.28 152.9
EBIT 1 -230.1 -286.6 -229.8 -203.9 -160.9 -138.5 -77 59
Net income 1 -241.3 -297.8 -236.9 -202.2 -165.5 -131.7 -64.3 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 66.05 66.05 66.05
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.($)
-40.59x4.69x-126.69x - 538.82Cr
14.09x1.71x - 3.19% 8.83TCr
11.89x - - 1.42% 7.16TCr
9.06x - - 1.73% 6.44TCr
11.06x - - 2.48% 4.19TCr
9.65x1x - 3.79% 4.04TCr
8.39x - - 0.93% 3.78TCr
18.45x2.24x - 1.99% 3.72TCr
11.17x0.83x - 2.58% 3.62TCr
10.09x2.41x - 0.2% 3.53TCr
Average 6.33x 2.15x -126.69x 2.03% 4.59TCr
Weighted average by Cap. 11.07x 1.71x -126.69x 2.12%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Lemonade, Inc.