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 4,097 - -
Change - -63.54% 19.2% 132.22% 103.1% -22.97% - -
Enterprise Value (EV) 1 2,595 946.2 871.3 2,317 5,081 4,351 4,434 4,532
Change - -63.54% -7.92% 165.91% 119.29% -14.36% 1.9% 2.21%
P/E -10.7x -2.98x -4.74x -12.9x -31.8x -28.4x -49.3x 94.5x
PBR 2.63x 1.09x 1.6x 4.5x 10.1x 8.46x 8.56x 6.51x
PEG - -0.2x 0.2x 0.8x 1.5x 1.7x 1.2x -1x
Capitalization / Revenue 20.2x 3.69x 2.62x 4.97x 7.21x 3.37x 2.5x 1.91x
EV / Revenue 20.2x 3.69x 2.03x 4.4x 6.89x 3.58x 2.7x 2.12x
EV / EBITDA -14.1x -4.2x -5.05x -15.5x -43x -89.4x 193x 35.3x
EV / EBIT -11.3x -3.3x -3.79x -11.4x -31.6x -30.4x -52.9x 85.5x
EV / FCF -16.9x -5.47x -6.79x -111x -196x -42.2x 81x 20.5x
FCF Yield -5.93% -18.3% -14.7% -0.9% -0.51% -2.37% 1.24% 4.88%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.94 -4.59 -3.4 -2.85 -2.24 -1.865 -1.074 0.56
Distribution rate - - - - - - - -
Net sales 1 128.4 256.7 429.8 526.5 737.9 1,216 1,640 2,142
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 -144.5 -87.7 38.1
Net Debt 1 - - -256.6 -302.3 -238.7 253.9 336.5 434.6
Reference price 2 42.11 13.68 16.13 36.68 71.18 52.94 52.94 52.94
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.5x1.94x - 3.09% 93.21B
11.24x - - 1.26% 80.16B
8.09x - - 1.62% 67.51B
10.08x1.09x - 3.54% 44.51B
10.57x - - 2.47% 41.19B
11.83x0.9x - 2.41% 39.92B
16.66x2.12x - 2.1% 35.35B
9.09x - - 0.9% 33.96B
9.4x2.37x - 0.2% 33.47B
Average 11.27x 1.68x 1.96% 52.14B
Weighted average by Cap. 11.44x 1.70x 2.06%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA