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 4,102 - -
Change - -63.54% 19.2% 132.22% 103.1% -22.88% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 4,377 4,453 4,578
Change - -63.54% -7.92% 165.91% 119.29% -13.85% 1.74% 2.8%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -28.2x -51x 119x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 8.46x 8.51x 6.47x
PEG - -0.2x 0.2x 0.8x 1.5x 1.7x 1.1x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 3.38x 2.5x 1.92x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 3.6x 2.72x 2.14x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -89.9x 194x 35.7x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -30.6x -53.1x 86.4x
EV / FCF -16.9x -5.47x -6.79x -111x -196x -42.5x 81.3x 20.7x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% -2.35% 1.23% 4.83%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.879 -1.041 0.445
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,214 1,638 2,138
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 -145.9 -87.29 38.02
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 53.05 53.05 53.05
Nbr of stocks (in thousands) 61,627 69,164 69,924 71,405 74,731 77,327 - -
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.($)
14.4x1.93x - 3.11% 9.31TCr
10.93x - - 1.29% 7.8TCr
9.25x - - 1.64% 6.76TCr
10.01x1.09x - 3.57% 4.45TCr
11.17x - - 2.48% 4.18TCr
13.25x0.87x - 2.47% 3.9TCr
16.41x2.09x - 2.14% 3.46TCr
9.66x2.42x - 0.2% 3.43TCr
8.83x - - 0.92% 3.34TCr
Average 11.55x 1.68x 1.98% 5.18TCr
Weighted average by Cap. 11.67x 1.70x 2.08%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA