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 3,850 - -
Change - -63.54% 19.2% 132.22% 103.1% -27.63% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 4,104 4,174 4,259
Change - -63.54% -7.92% 165.91% 119.29% -19.23% 1.73% 2.02%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -26.7x -45.1x 89.9x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 7.97x 7.66x 6.14x
PEG - -0.2x 0.2x 0.8x 1.5x 1.6x 1.1x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 3.16x 2.34x 1.8x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 3.37x 2.54x 1.99x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -84.3x 182x 33.2x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -28.6x -49.8x 80.4x
EV / FCF -16.9x -5.47x -6.79x -111x -196x -39.8x 76.2x 19.3x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% -2.51% 1.31% 5.19%
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 49.74 49.74 49.74
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.($)
-26.67x3.37x-84.28x - 3.85B
16.29x1.92x - 2.99% 98.96B
11.06x - - 1.28% 78.84B
6.86x - - 1.69% 65.04B
13.32x1.19x - 3.3% 47.93B
11.13x0.85x - 2.97% 38.98B
11.43x - - 2.56% 39.73B
9.2x2.33x - 0.17% 32.98B
15.18x1.94x - 2.31% 32.25B
8.57x - - 0.95% 32.35B
Average 7.64x 1.93x -84.28x 2.02% 47.09B
Weighted average by Cap. 11.52x 1.70x -84.28x 2.12%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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