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 4,762 - -
Change - -63.54% 19.2% 132.22% 103.1% -10.48% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 5,037 5,113 5,237
Change - -63.54% -7.92% 165.91% 119.29% -0.86% 1.51% 2.44%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -35.9x -75.8x 99.4x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 9.91x 10.2x 7.66x
PEG - -0.2x 0.2x 0.8x 1.5x 1.6x 1.4x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 3.94x 2.94x 2.24x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 4.17x 3.15x 2.46x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -113x 156x 34.2x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -36.4x -67.7x 88.8x
EV / FCF -16.9x -5.47x -6.79x -111x -196x 65.4x 46.5x 22.6x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% 1.53% 2.15% 4.42%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.728 -0.8191 0.625
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,207 1,621 2,129
EBITDA 1 -184.2 -225.1 -172.6 -149.7 -118.1 -44.76 32.7 152.9
EBIT 1 -230.1 -286.6 -229.8 -203.9 -160.9 -138.5 -75.5 59
Net income 1 -241.3 -297.8 -236.9 -202.2 -165.5 -131.7 -63.92 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 62.11 62.11 62.11
Nbr of stocks (in thousands) 61,627 69,164 69,924 71,405 74,731 76,821 - -
Announcement Date 2/23/22 A 2/22/23 A 2/27/24 A 2/25/25 A 2/19/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-35.87x4.17x-112.54x - 4.76B
16.3x1.82x - 3.02% 93.25B
11.44x - - 1.24% 81.42B
9.19x - - 1.65% 67.26B
10.45x1.13x - 3.42% 44.47B
11.22x - - 2.47% 41.97B
14x0.92x - 2.34% 39.51B
8.37x - - 0.91% 38.76B
19.11x2.24x - 1.98% 37.26B
10.35x2.46x - 0.19% 36.15B
Average 7.46x 2.12x -112.54x 1.91% 48.48B
Weighted average by Cap. 11.96x 1.76x -112.54x 1.99%

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.