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 3,736 - -
Change - -63.54% 19.2% 132.22% 103.1% -29.77% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 4,010 4,086 4,211
Change - -63.54% -7.92% 165.91% 119.29% -21.07% 1.89% 3.05%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -25.8x -50.9x 94.4x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 7.7x 7.75x 5.89x
PEG - -0.2x 0.2x 0.8x 1.5x 1.6x 1x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 3.08x 2.28x 1.75x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 3.3x 2.49x 1.97x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -82.8x 170x 31.1x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -28x -48.8x 79.5x
EV / FCF -16.9x -5.47x -6.79x -111x -196x -38.9x 74.6x 19.1x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% -2.57% 1.34% 5.25%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.869 -0.95 0.512
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,214 1,638 2,138
EBITDA 1 -184.2 -225.1 -172.6 -149.7 -118.1 -48.41 24.03 135.2
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 -145.5 -80.02 38.02
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 48.31 48.31 48.31
Nbr of stocks (in thousands) 61,627 69,164 69,924 71,405 74,731 77,327 - -
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.($)
14.82x1.98x - 3.03% 94.28B
10.98x - - 1.29% 78.08B
9.29x - - 1.63% 67.98B
10.23x1.11x - 3.49% 44.72B
11.14x - - 2.49% 41.66B
11.91x0.9x - 2.39% 39.75B
8.56x - - 0.92% 33.42B
16.6x2.09x - 2.14% 34.6B
9.6x2.41x - 0.2% 34.14B
Average 11.46x 1.70x 1.95% 52.07B
Weighted average by Cap. 11.67x 1.73x 2.06%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA