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 5,494 - -
Change - -63.54% 19.2% 132.22% 103.1% 3.29% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 5,769 5,896 6,021
Change - -63.54% -7.92% 165.91% 119.29% 13.55% 2.21% 2.12%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -41.1x -86.6x 165x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 11.5x 11.7x 9.11x
PEG - -0.2x 0.2x 0.8x 1.5x 1.8x 1.6x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 4.55x 3.4x 2.61x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 4.78x 3.65x 2.86x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -117x 203x 44x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -40.6x -72.9x 102x
EV / FCF -16.9x -5.47x -6.79x -111x -196x 118x 58x 18.4x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% 0.85% 1.72% 5.43%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.739 -0.8258 0.4325
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,206 1,614 2,103
EBITDA 1 -184.2 -225.1 -172.6 -149.7 -118.1 -49.29 28.99 136.8
EBIT 1 -230.1 -286.6 -229.8 -203.9 -160.9 -142.1 -80.9 59
Net income 1 -241.3 -297.8 -236.9 -202.2 -165.5 -134.5 -66.29 36.54
Net Debt 1 - - -256.6 -302.3 -238.7 274.6 402.3 527
Reference price 2 42.11 13.68 16.13 36.68 71.18 71.52 71.52 71.52
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-41.12x4.78x-117.05x - 549.42Cr
20.1x1.71x - 2.89% 8.75TCr
12.19x - - 1.4% 7.28TCr
9.03x - - 1.73% 6.44TCr
11.57x - - 2.46% 4.21TCr
8.96x0.99x - 3.9% 4.03TCr
8.66x - - 0.91% 3.89TCr
17.96x2.25x - 1.99% 3.7TCr
11.01x0.81x - 2.62% 3.6TCr
10.12x2.4x - 0.2% 3.56TCr
Average 6.85x 2.16x -117.05x 2.01% 4.6TCr
Weighted average by Cap. 12.19x 1.71x -117.05x 2.06%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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