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 3,323 - -
Change - -63.54% 19.2% 132.22% 103.1% -37.52% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 3,577 3,648 3,732
Change - -63.54% -7.92% 165.91% 119.29% -29.59% 1.98% 2.31%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -23.2x -39.2x 80x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 6.93x 6.71x 5.4x
PEG - -0.2x 0.2x 0.8x 1.5x 1.3x 1x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 2.73x 2.02x 1.55x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 2.94x 2.22x 1.74x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -77.3x 153x 28.4x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -25x -44.1x 70.4x
EV / FCF -16.9x -5.47x -6.79x -111x -196x -114x 73.3x 19.1x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% -0.88% 1.36% 5.24%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.849 -1.096 0.5367
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,218 1,643 2,142
EBITDA 1 -184.2 -225.1 -172.6 -149.7 -118.1 -46.29 23.79 131.5
EBIT 1 -230.1 -286.6 -229.8 -203.9 -160.9 -143.3 -82.8 53
Net income 1 -241.3 -297.8 -236.9 -202.2 -165.5 -143.4 -87.83 36.49
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 42.94 42.94 42.94
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-23.22x2.94x-77.28x - 3.32B
12.44x - - 4.03% 134B
17.87x2x - 2.87% 105B
10.94x - - 1.22% 81.2B
6.92x - - 1.67% 65.71B
12.28x1.2x - 3.26% 48.11B
3.99x0.57x - 5.79% 45.22B
7.28x0.59x - 5.31% 46.16B
11.46x - - 2.37% 42.82B
10.33x - - 0.86% 40.06B
Average 7.03x 1.46x -77.28x 3.04% 61.15B
Weighted average by Cap. 11.15x 1.33x -77.28x 3.04%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Lemonade, Inc.

Historical PBR trend

Valuation ratios - PBR - Lemonade, Inc.

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Lemonade, Inc.

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Lemonade, Inc.

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