(LMND) Lemonade - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US52567D1072

Renters, Homeowners, Car, Pet, Life

Property & Casualty Insurance
Market Cap in USD: 6,035m
IPO / Inception: 2020-07-02
12m vs SPY: 116%

EPS (Earnings per Share)

EPS (Earnings per Share) of LMND over the last years for every Quarter: "2020-12": -0.6, "2021-03": -0.81, "2021-06": -0.9, "2021-09": -1.08, "2021-12": -1.08, "2022-03": -1.21, "2022-06": -1.1, "2022-09": -1.37, "2022-12": -0.93, "2023-03": -0.95, "2023-06": -0.97, "2023-09": -0.88, "2023-12": -0.61, "2024-03": -0.67, "2024-06": -0.81, "2024-09": -0.95, "2024-12": -0.42, "2025-03": -0.86, "2025-06": -0.6, "2025-09": -0.51,
EPS CAGR: 27.65%
EPS Trend: 79.3%
Last SUE: 3.95
Qual. Beats: 4

Revenue

Revenue of LMND over the last years for every Quarter: 2020-12: 20.7, 2021-03: 23.5, 2021-06: 28.2, 2021-09: 35.7, 2021-12: 41, 2022-03: 44.3, 2022-06: 50, 2022-09: 74, 2022-12: 88.4, 2023-03: 95.2, 2023-06: 104.6, 2023-09: 114.5, 2023-12: 115.5, 2024-03: 119.1, 2024-06: 122, 2024-09: 136.6, 2024-12: 148.8, 2025-03: 151.2, 2025-06: 164.1, 2025-09: 194.5,
Rev. CAGR: 51.46%
Rev. Trend: 93.9%
Last SUE: 3.10
Qual. Beats: 5

Dividends

Currently no dividends paid
Risk via 5d forecast
Volatility 82.9%
Value at Risk 5%th 112%
Relative Tail Risk -18.17%
Reward TTM
Sharpe Ratio 1.48
Alpha 126.25
CAGR/Max DD 1.35
Character TTM
Hurst Exponent 0.479
Beta 2.079
Beta Downside 2.009
Drawdowns 3y
Max DD 56.10%
Mean DD 24.43%
Median DD 26.95%

Description: LMND Lemonade January 12, 2026

Lemonade, Inc. (NYSE: LMND) is a digital-first insurer offering renters, homeowners, auto, pet, life, and landlord policies across the United States, Europe, and the United Kingdom. The platform also sells property-damage and personal-liability coverage and acts as an underwriting agent for third-party insurers.

Key recent metrics: 2023 total revenue reached $1.4 billion, up ~30 % YoY, driven by strong growth in its auto and renters segments; the combined ratio improved to 92 % in Q4 2023, reflecting better loss-ratio management and higher reinsurance recoveries; and the company’s AI-powered claims automation now processes ~70 % of claims in under five minutes, a competitive advantage in the P&C space. Macro-level, the sector is pressured by rising climate-related losses and a low-interest-rate environment that suppresses investment income, both of which Lemonade mitigates through its technology stack and a focus on short-duration policies.

For a deeper, data-driven look at Lemonade’s valuation and peer benchmarks, consider reviewing the analysis available on ValueRay.

Piotroski VR‑10 (Strict, 0-10) 2.0

Net Income (-173.8m TTM) > 0 and > 6% of Revenue (6% = 39.5m TTM)
FCFTA -0.02 (>2.0%) and ΔFCFTA 1.02pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue 69.59% (prev 127.0%; Δ -57.46pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA -0.01 (>3.0%) and CFO -23.4m > Net Income -173.8m (YES >=105%, WARN >=100%)
NO Net Debt/EBITDA fails (EBITDA <= 0)
Current Ratio 2.57 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (74.2m) change vs 12m ago 4.30% (target <= -2.0% for YES)
Gross Margin 42.73% (prev 33.31%; Δ 9.41pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 35.20% (prev 27.05%; Δ 8.15pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
error: Interest Coverage Ratio cannot be calculated (needs EBITDA TTM and Interest Expense TTM)

Altman Z'' -2.60

(A) 0.24 = (Total Current Assets 750.8m - Total Current Liabilities 292.5m) / Total Assets 1.92b
(B) -0.75 = Retained Earnings (Balance) -1.44b / Total Assets 1.92b
(C) -0.10 = EBIT TTM -178.1m / Avg Total Assets 1.87b
(D) -1.02 = Book Value of Equity -1.44b / Total Liabilities 1.40b
Total Rating: -2.60 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 42.91

1. Piotroski 2.0pt
2. FCF Yield -0.57%
3. FCF Margin -5.00%
4. Debt/Equity 0.21
5. Debt/Ebitda 2.21
6. ROIC - WACC (= -34.74)%
7. RoE -31.86%
8. Rev. Trend 93.89%
9. EPS Trend 79.28%

What is the price of LMND shares?

As of January 15, 2026, the stock is trading at USD 81.14 with a total of 1,642,538 shares traded.
Over the past week, the price has changed by +0.17%, over one month by +8.09%, over three months by +54.49% and over the past year by +159.48%.

Is LMND a buy, sell or hold?

Lemonade has received a consensus analysts rating of 2.44. Therefor, it is recommend to sell LMND.
  • Strong Buy: 0
  • Buy: 1
  • Hold: 4
  • Sell: 2
  • Strong Sell: 2

What are the forecasts/targets for the LMND price?

Issuer Target Up/Down from current
Wallstreet Target Price 65.8 -18.9%
Analysts Target Price 65.8 -18.9%
ValueRay Target Price 78.9 -2.7%

LMND Fundamental Data Overview January 10, 2026

P/S = 9.168
P/B = 11.6917
Revenue TTM = 658.6m USD
EBIT TTM = -178.1m USD
EBITDA TTM = -160.8m USD
Long Term Debt = 139.0m USD (from longTermDebt, last quarter)
Short Term Debt = 92.4m USD (from shortTermDebt, last fiscal year)
Debt = 107.2m USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -355.5m USD (from netDebt column, last quarter)
Enterprise Value = 5.79b USD (6.04b + Debt 107.2m - CCE 355.5m)
Interest Coverage Ratio = unknown (Ebit TTM -178.1m / Interest Expense TTM 0.0)
EV/FCF = -175.9x (Enterprise Value 5.79b / FCF TTM -32.9m)
FCF Yield = -0.57% (FCF TTM -32.9m / Enterprise Value 5.79b)
FCF Margin = -5.00% (FCF TTM -32.9m / Revenue TTM 658.6m)
Net Margin = -26.39% (Net Income TTM -173.8m / Revenue TTM 658.6m)
Gross Margin = 42.73% ((Revenue TTM 658.6m - Cost of Revenue TTM 377.2m) / Revenue TTM)
Gross Margin QoQ = 41.54% (prev 39.73%)
Tobins Q-Ratio = 3.02 (Enterprise Value 5.79b / Total Assets 1.92b)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 107.2m)
Taxrate = 21.0% (US default 21%)
NOPAT = -140.7m (EBIT -178.1m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.57 (Total Current Assets 750.8m / Total Current Liabilities 292.5m)
Debt / Equity = 0.21 (Debt 107.2m / totalStockholderEquity, last quarter 516.2m)
Debt / EBITDA = 2.21 (negative EBITDA) (Net Debt -355.5m / EBITDA -160.8m)
Debt / FCF = 10.81 (negative FCF - burning cash) (Net Debt -355.5m / FCF TTM -32.9m)
Total Stockholder Equity = 545.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -9.29% (Net Income -173.8m / Total Assets 1.92b)
RoE = -31.86% (Net Income TTM -173.8m / Total Stockholder Equity 545.5m)
RoCE = -26.02% (EBIT -178.1m / Capital Employed (Equity 545.5m + L.T.Debt 139.0m))
RoIC = -21.40% (negative operating profit) (NOPAT -140.7m / Invested Capital 657.5m)
WACC = 13.34% (E(6.04b)/V(6.14b) * Re(13.58%) + D(107.2m)/V(6.14b) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 13.58% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 2.95%
Fair Price DCF = unknown (Cash Flow -32.9m)
EPS Correlation: 79.28 | EPS CAGR: 27.65% | SUE: 3.95 | # QB: 4
Revenue Correlation: 93.89 | Revenue CAGR: 51.46% | SUE: 3.10 | # QB: 5
EPS next Quarter (2026-03-31): EPS=-0.55 | Chg30d=+0.010 | Revisions Net=-2 | Analysts=10
EPS next Year (2026-12-31): EPS=-1.62 | Chg30d=+0.032 | Revisions Net=+1 | Growth EPS=+31.2% | Growth Revenue=+59.0%

Additional Sources for LMND Stock

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