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 3,619 - -
Change - -63.54% 19.2% 132.22% 103.1% -31.96% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 3,873 3,944 4,028
Change - -63.54% -7.92% 165.91% 119.29% -23.77% 1.83% 2.14%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -25.1x -42.4x 84.5x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 7.49x 7.2x 5.78x
PEG - -0.2x 0.2x 0.8x 1.5x 1.5x 1x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 2.97x 2.2x 1.69x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 3.18x 2.4x 1.89x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -79.5x 172x 31.4x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -27x -47.1x 76x
EV / FCF -16.9x -5.47x -6.79x -111x -196x -37.6x 72x 18.2x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% -2.66% 1.39% 5.49%
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 46.76 46.76 46.76
Nbr of stocks (in thousands) 61,627 69,164 69,924 71,405 74,731 77,397 - -
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.($)
11.33x - - 4.36% 123B
15.88x1.73x - 3.14% 94.28B
10.57x - - 1.34% 75.43B
5.98x - - 1.94% 56.74B
4.03x0.61x - 5.46% 48.44B
7.33x0.59x - 5.25% 46.8B
12.17x1.09x - 3.51% 44.72B
11.28x - - 2.57% 39.44B
10.7x0.81x - 3.05% 37.37B
Average 9.92x 0.97x 3.4% 62.87B
Weighted average by Cap. 10.52x 1.10x 3.4%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA