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LMNDLemonade, Inc.
$44.36$3.4B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
LMND logo

Lemonade, Inc.

LMND
NYSE · Property & Casualty Insurance
$44.36
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$3.41B
P/E-19.3x
52W High$99.90
Volume2.08M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Revenue Surge Masks Persistent Underwriting Losses

Lemonade's premium growth is accelerating sharply, with revenue up 67% year-over-year in 2026Q2, driven by strong demand and product expansion. However, the company remains unprofitable, with a combined ratio of 115.3% in 2026Q2, indicating continued underwrit...

GrowthAccelerating
ProfitabilityWeak
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

LMND price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

12/12 Beats

EPS beat 12 of last 12 quarters

02

Valuation risk

-181% Peers

P/E is 181% below peer median

03

Market leadership

RS 17 · Lag

Laggard (Underperforming 83% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Oct 29

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
LMND-41.60%
S&P 500 (^GSPC)+12.39%
1-Year Return
LMND-22.88%
S&P 500 (^GSPC)+15.77%
3-Year Return
LMND+279.47%
S&P 500 (^GSPC)+67.75%
5-Year Return
LMND-37.74%
S&P 500 (^GSPC)+64.08%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-19.3x
Forward P/E
N/A
EV/EBITDA
N/A
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-19.3x
N/A
N/A
EV/EBITDA
N/A
N/A
N/A
Price/FCF
N/A
N/A
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$2.23-95.0%
Base (Fair)$3.53-92.5%
Bull$4.85-89.1%
$2.23 Bear$3.53 Base$4.85 Bull
Current Market Price: $44.36
Trades at a 1156.7% premium to Base DCF ($3.53)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$738M+40.2% YoY
Net income
-$166M+18.2% YoY
Free cash flow
-$26M-24.5% YoY
Operating margin
-21.8%+16.9 pts YoY
ROIC (TTM)-36.8%
Avg ROIC 5Y-
ROE (TTM)-29.4%
Piotroski Score4 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate12/12 (100%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 29, 2026
-$0.56+0.8%
vs -$0.56
$294M+1.2%
vs $291M
Q2 2026
Apr 29, 2026
-$0.47+19.0%
vs -$0.58
$258M+2.6%
vs $252M
Q1 2026
Feb 19, 2026
-$0.29+29.3%
vs -$0.41
$228M+4.7%
vs $218M
Q4 2025
Nov 5, 2025
-$0.51+29.2%
vs -$0.72
$195M-10.8%
vs $218M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
PRNewsWire·1d ago
Lemonade Continues U.S. Expansion With Launch of Pet Insurance in Kentucky

Bluegrass State pet parents can now get accident and illness coverage, preventative care, and claims paid in seconds NEW YORK, Sept. 22, 2026 /PRNewswire/ --  Lemonade  (NYSE: LMND), the tech-first insurance company, today announced the launch of Lemonade Pet Insurance in Kentucky.

Fool - Investing News·5d ago
2 Growth Stocks I Plan to Buy if the Stock Market Crashes

A growing number of risks are threatening the bull market in stocks.

MarketBeat·6d ago
Lemonade Targets First EBITDA-Positive Quarter as CFO Tim Bixby Transitions to Board

Lemonade NYSE: LMND Chief Financial Officer Tim Bixby said the digital insurer expects to reach a significant profitability milestone in the fourth quarter, while continuing to prioritize growth, product expansion and technology-driven underwriting.

Defense World·6d ago
18,894 Shares in Lemonade, Inc. $LMND Purchased by Engineers Gate Manager LP

Engineers Gate Manager LP purchased a new stake in shares of Lemonade, Inc. (NYSE: LMND) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,894 shares of the company's stock, valued at approximately $1,229,000. A number of other large investors have also recently

Filtered for Lemonade, Inc.More Headlines
04

Compare before deciding

Benchmark LMND against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Lemonade, Inc. (LMND)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
LMND logoLMNDLemonade, Inc.Current
$44.36$3.41B-19.2940.15%-22.43%-29.37%—
ROOT logoROOTRoot, Inc.
$46.76$655.58M20.8828.95%3.82%15.57%—
HIPO logoHIPOHippo Holdings Inc.
$29.71$773.53M13.3825.93%23.92%27.38%—
GO logoGOGrocery Outlet Holding Corp.
$11.16$1.1B-4.857.26%-8.04%-40.07%—
OSCR logoOSCROscar Health, Inc.
$30.53$7.92B-18.0727.5%3.6%38.45%—
PGR logoPGRThe Progressive Corporation
$203.13$119.22B10.5616.32%12.93%35.45%—

Compare LMND vs Peers

Lemonade, Inc. (LMND) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ROOT

Most directly comparable listed peer for LMND.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare LMND against a more recognizable public peer.

Peer Set

Compare Top 5

vs ROOT, HIPO, GO, OSCR

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

LMND SEC Filings & Documents

Lemonade, Inc. (LMND) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jul 29, 2026·SEC

Material company update

Jul 29, 2026·SEC

Material company update

Jun 24, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 26, 2025·SEC

FY 2024

Feb 28, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 4, 2026·SEC

FY 2026

Apr 30, 2026·SEC

FY 2025

Nov 5, 2025·SEC

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LMND Frequently Asked Questions

Lemonade, Inc. (LMND) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Lemonade, Inc. growing?

Lemonade, Inc. (LMND) grew revenue by 40.2% over the past year. This is strong growth.

Is LMND profitable?

Lemonade, Inc. (LMND) reported a net loss of $138.4M for fiscal year 2025.

Dividend & Returns
What is LMND's return on equity?

Lemonade, Inc. (LMND) has a return on equity (ROE) of -29.4%. Negative ROE indicates the company is unprofitable.

Industry Metrics
What is Lemonade, Inc.'s combined ratio?

Lemonade, Inc. (LMND) has a combined ratio of 121.8%. A ratio above 100% means claims and expenses exceed premiums.

What if you invested $1,000 in LMND back in 2017?

Total return calculator · dividends reinvested · 9+ years of data

See returns →