Lemonade, Inc. (LMND) Financial Ratios
9 years of historical data (2017–2025) · Financial Services · Insurance - Property & Casualty
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: N/A
P/B Ratio
↑
7.13
↑+86% vs avg
5yr avg: 3.84
30Y Low1.0·High12.5
ROE
↑
-29.4%
↓+5% vs avg
5yr avg: -30.8%
30Y Low-88%·High-29%
Debt/EBITDA
N/A
—
5yr avg: N/A
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
LMND Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Lemonade, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.1B | $5.1B | $2.6B | $1.1B | $888M | $2.6B | $6.8B | — | — | — |
| Enterprise Value | $3.9B | $4.9B | $2.3B | $902M | $641M | $2.3B | $6.2B | — | — | — |
| P/E Ratio → | -23.04 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 5.52 | 6.93 | 4.95 | 2.61 | 3.46 | 20.08 | 71.79 | — | — | — |
| P/B Ratio | 7.13 | 9.58 | 4.39 | 1.58 | 1.02 | 2.61 | 12.53 | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
LMND EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.65 | 4.44 | 2.10 | 2.50 | 18.15 | 65.74 | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — |
LMND Profitability
Margins and return-on-capital ratios measuring operating efficiency
Lemonade, Inc. earns an operating margin of -21.8%, below the Financial Services sector average of 21.2%. Operating margins have expanded from -53.5% to -21.8% over the past 3 years, signaling improving operational efficiency. A negative ROE of -29.4% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.3% | 40.3% | 32.8% | 21.0% | 11.1% | 17.8% | 21.6% | 17.7% | 13.8% | 100.0% |
| Operating Margin | -21.8% | -21.8% | -38.7% | -53.5% | -114.8% | -181.9% | -128.0% | -160.3% | -233.8% | -1095.8% |
| Net Profit Margin | -22.4% | -22.4% | -38.4% | -55.1% | -116.0% | -187.9% | -129.6% | -161.2% | -235.1% | -1170.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -29.4% | -29.4% | -31.1% | -30.1% | -32.1% | -31.6% | -68.2% | — | — | -87.8% |
| ROA | -8.8% | -8.8% | -11.6% | -14.3% | -18.6% | -20.6% | -19.7% | -38.2% | -54.5% | -69.4% |
| ROIC | -36.8% | -36.8% | -37.7% | -31.1% | -32.5% | -49.3% | — | — | — | -130.6% |
| ROCE | -22.7% | -22.7% | -28.1% | -27.8% | -30.8% | -34.9% | -19.4% | -38.0% | -56.0% | -69.2% |
LMND Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $385M exceeds total debt of $182M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.34 | 0.34 | 0.18 | 0.06 | 0.04 | 0.02 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.38 | -0.45 | -0.31 | -0.29 | -0.25 | -1.06 | — | — | -0.53 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | -9.94 |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($385M) exceeds total debt ($182M)
LMND Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.52x means Lemonade, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.74x to 1.52x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.52 | 1.52 | 1.53 | 1.74 | 2.00 | 2.93 | — | — | 39.24 | 14.36 |
| Quick Ratio | 1.52 | 1.52 | 1.53 | 1.74 | 2.00 | 2.93 | — | — | 74.89 | 14.36 |
| Cash Ratio | 0.92 | 0.92 | 0.88 | 1.06 | 1.31 | 2.14 | — | — | 29.32 | 12.00 |
| Asset Turnover | — | 0.38 | 0.28 | 0.26 | 0.15 | 0.09 | 0.11 | 0.16 | 0.15 | 0.06 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — |
LMND Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Lemonade, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $72M | $71M | $70M | $65M | $61M | $55M | $44M | $44M | $11M |
Peer Comparison
Compare LMND with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 LMNDYou | $4B | -23.0 | — | — | 40.3% | -21.8% | -29.4% | -36.8% | — |
 ROOT | $772M | 24.6 | 5.4 | 4.0 | 25.5% | 2.7% | 11.3% | — | 3.8 |
 HIPO | $713M | 12.3 | 8.1 | 78.4 | 50.9% | 13.5% | 14.4% | 22.8% | 0.8 |
 GO | $781M | -3.5 | — | 32.8 | 30.3% | -4.7% | -20.6% | -6.0% | — |
 OSCR | $5B | -11.7 | — | 4.9 | 14.4% | -3.4% | -44.4% | — | — |
 PGR | $115B | 13.7 | 11.1 | 7.8 | 27.7% | 14.2% | 37.0% | 27.0% | 0.6 |
 ALL | $56B | 5.7 | 4.6 | 5.7 | 33.2% | 19.8% | 39.6% | 29.8% | 0.5 |
 TRV | $65B | 11.0 | 8.7 | — | 44.3% | 16.0% | 20.7% | 15.3% | 1.1 |
 HIG | $37B | 10.0 | 7.9 | 6.4 | 46.1% | 16.8% | 21.7% | 16.3% | 0.8 |
 SIGI | $5B | 11.1 | 9.5 | 4.0 | 40.9% | 11.0% | 13.9% | 10.9% | 1.4 |
 KMPR | $2B | 14.3 | 11.9 | 3.5 | 29.7% | 3.3% | 5.3% | 3.1% | 4.3 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 9 years · Updated daily
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Start ComparisonLMND — Frequently Asked Questions
Quick answers to the most common questions about buying LMND stock.
What is Lemonade, Inc.'s P/E ratio?
Lemonade, Inc.'s current P/E ratio is -23.0x. This places it at the 50th percentile of its historical range.
What is Lemonade, Inc.'s ROE?
Lemonade, Inc.'s return on equity (ROE) is -29.4%. The historical average is -44.3%.
Is LMND stock overvalued?
Based on historical data, Lemonade, Inc. is trading at a P/E of -23.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Lemonade, Inc.'s profit margins?
Lemonade, Inc. has 40.3% gross margin and -21.8% operating margin.