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 4,152 - -
Change - -63.54% 19.2% 132.22% 103.1% -21.95% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 4,405 4,476 4,560
Change - -63.54% -7.92% 165.91% 119.29% -13.29% 1.61% 1.88%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -28.9x -48.9x 97.5x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 8.64x 8.3x 6.66x
PEG - -0.2x 0.2x 0.8x 1.5x 1.7x 1.2x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 3.41x 2.53x 1.94x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 3.62x 2.73x 2.13x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -90.5x 195x 35.5x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -30.7x -53.4x 86x
EV / FCF -16.9x -5.47x -6.79x -111x -196x -42.8x 81.7x 20.6x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% -2.34% 1.22% 4.85%
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 53.93 53.93 53.93
Nbr of stocks (in thousands) 61,627 69,164 69,924 71,405 74,731 77,397 - -
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.($)
15.21x1.73x - 3.16% 9.1TCr
10.86x - - 1.3% 7.74TCr
7.38x - - 1.65% 6.62TCr
11.15x1.13x - 3.35% 4.6TCr
11.38x - - 2.53% 4.02TCr
11.53x0.8x - 2.94% 3.83TCr
9.55x2.41x - 0.2% 3.42TCr
15.87x2.03x - 2.21% 3.38TCr
8.53x - - 0.95% 3.22TCr
Average 11.27x 1.62x 2.03% 5.1TCr
Weighted average by Cap. 11.46x 1.61x 2.13%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA