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 4,520 - -
Change - -63.54% 19.2% 132.22% 103.1% -15.02% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 4,795 4,922 5,047
Change - -63.54% -7.92% 165.91% 119.29% -5.63% 2.66% 2.53%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -33.8x -71.2x 136x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 9.42x 9.6x 7.49x
PEG - -0.2x 0.2x 0.8x 1.5x 1.5x 1.4x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 3.75x 2.8x 2.15x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 3.97x 3.05x 2.4x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -97.3x 170x 36.9x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -33.8x -60.8x 85.5x
EV / FCF -16.9x -5.47x -6.79x -111x -196x 97.9x 48.4x 15.4x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% 1.02% 2.06% 6.48%
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 58.84 58.84 58.84
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.($)
19.6x1.67x - 2.97% 8.52TCr
10.98x - - 1.56% 6.55TCr
7.98x - - 1.96% 5.69TCr
9.52x1.01x - 3.78% 4.14TCr
10.79x - - 2.64% 3.92TCr
16.82x2.11x - 2.12% 3.48TCr
10.38x0.96x - 2.35% 3.54TCr
9.03x2.11x - 0.22% 3.17TCr
19.5x - - 4.23% 2.74TCr
Average 12.73x 1.57x 2.43% 4.64TCr
Weighted average by Cap. 13.01x 1.57x 2.41%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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