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 5,182 - -
Change - -63.54% 19.2% 132.22% 103.1% -2.59% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 5,456 5,532 5,657
Change - -63.54% -7.92% 165.91% 119.29% 7.39% 1.39% 2.26%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -39x -82x 108x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 10.8x 11.1x 8.32x
PEG - -0.2x 0.2x 0.8x 1.5x 1.7x 1.6x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 4.29x 3.2x 2.43x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 4.52x 3.42x 2.66x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -122x 171x 37x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -39.4x -71.8x 95.9x
EV / FCF -16.9x -5.47x -6.79x -111x -196x 70.9x 50.3x 24.4x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% 1.41% 1.99% 4.09%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.728 -0.8227 0.625
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,207 1,619 2,129
EBITDA 1 -184.2 -225.1 -172.6 -149.7 -118.1 -44.7 32.28 152.9
EBIT 1 -230.1 -286.6 -229.8 -203.9 -160.9 -138.5 -77 59
Net income 1 -241.3 -297.8 -236.9 -202.2 -165.5 -131.7 -64.3 51.97
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 67.45 67.45 67.45
Nbr of stocks (in thousands) 61,627 69,164 69,924 71,405 74,731 76,821 - -
Announcement Date 23/2/22 22/2/23 27/2/24 25/2/25 19/2/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-39.03x4.52x-122.06x - 5.18B
13.86x1.92x - 3.27% 85.72B
10.81x - - 1.31% 76.86B
8.93x - - 1.7% 65.32B
11.31x - - 2.45% 42.31B
9.58x0.99x - 3.82% 39.92B
8.09x - - 0.94% 37.55B
18.51x2.22x - 2% 36.95B
11.25x0.83x - 2.56% 36.33B
10.14x2.42x - 0.2% 35.43B
Average 6.35x 2.15x -122.06x 2.03% 46.16B
Weighted average by Cap. 10.87x 1.78x -122.06x 2.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Lemonade, Inc.