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 3,756 - -
Change - -63.54% 19.2% 132.22% 103.1% -29.39% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 4,030 4,106 4,231
Change - -63.54% -7.92% 165.91% 119.29% -20.67% 1.88% 3.04%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -26x -51.1x 94.9x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 7.75x 7.79x 5.92x
PEG - -0.2x 0.2x 0.8x 1.5x 1.6x 1x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 3.09x 2.29x 1.76x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 3.32x 2.51x 1.98x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -90.6x 147x 29.3x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -28.1x -49x 79.8x
EV / FCF -16.9x -5.47x -6.79x -111x -196x -39.1x 75x 19.1x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% -2.56% 1.33% 5.22%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.869 -0.95 0.512
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,214 1,637 2,135
EBITDA 1 -184.2 -225.1 -172.6 -149.7 -118.1 -44.48 27.86 144.2
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 -145.5 -77.28 42.55
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 48.57 48.57 48.57
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.($)
16.11x2x - 2.99% 9.52TCr
11.02x - - 1.29% 7.84TCr
9.34x - - 1.62% 6.83TCr
10.36x1.12x - 3.45% 4.53TCr
11.18x - - 2.48% 4.18TCr
12.09x0.92x - 2.35% 4.03TCr
8.27x - - 0.91% 3.85TCr
16.76x2.11x - 2.12% 3.5TCr
9.65x2.42x - 0.2% 3.43TCr
Average 11.64x 1.72x 1.93% 5.3TCr
Weighted average by Cap. 11.94x 1.74x 2.03%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA