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Lemonade (LMND) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Lemonade
NYSE•Financial Services•Insurance - Property & Casualty
$48.57-1.17(-0.02%)Pre-market
Market Cap
$3.63B
P/S
3.7x
P/B
7.3x

Lemonade, Inc. provides various insurance products in the United States, Europe, and the United Kingdom. The company provides renters and homeowners, building, car, pet, and life insurance products, as well as landlord insurance products. It also offers insurance for stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property. In addition, it operates as an agent for other insurance companies. The company was formerly known as Lemonade Group, Inc. Lemonade, Inc. was incorporated in 2015 and is headquartered in New York, New York.

B

How this company scores

GoodMetricSide Score: 61/100

Strongest: Growth (20/25); weakest: Cash & Earnings Quality (12/25).

Profitability14/25
Growth20/25
Balance Sheet & Red Flags15/25
Cash & Earnings Quality12/25
Strengths
Growing revenueLong cash runwayInterest easily coveredProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 3.7x5y range 2.0x – 30.2x
P/S 3.7x · near its 20-quarter median

Currently near its 20-quarter median.

P/B · 7.3x5y range 1.1x – 10.1x
P/B 7.3x · above its 20-quarter median

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -0.1x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume
Market Cap $3.63B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$975.00M
7Q
Q. Revenue
$294.40M
7Q
TTM EBITDA
$-114.10M
36%
TTM Op. Income
$-133.30M
5Q
Q. Op. Income
$-41.80M
2Q
TTM Net Income
$-138.40M
5Q
Q. Net Income
$-43.40M
2Q
EPS
$-0.56
2Q
Shares Out.
$76.98M
7Q
$975.00M in TTM revenue grew 62.3% YoY, reaching $294.40M last quarter. TTM EBITDA of $-114.10M and TTM operating income of $-133.30M show growth is flowing through to the bottom line. However, net income is negative at $138.40M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
-13.4%
2Q
Op. Margin
-14.2%
2Q
Net Margin
-14.7%
2Q
Op. margin of -14.2% is up 11.8% YoY — cost efficiency is improving. Net margin at -14.7% Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
3.7x
2Q
P/B Ratio
7.3x
2Q
P/S of 3.7x and P/B of 7.3x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$2.01B
3Q
Cash
$367.60M
2Q
Long-Term Debt
N/A
Book Value
$499.50M
2Q
D/E Ratio
N/A
Debt/EBITDA
N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$-3.40M
2Q
TTM Free Cash Flow
$8.10M
138%
FCF Margin
0.8%
123%
FCF / Net Income
-0.1
156%
TTM FCF of $8.10M on $-3.40M in operating cash flow. The FCF / Net Income ratio of -0.1x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is up 138% — a weakening trend.

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Cash Burn

Watch

FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.

Share Dilution

Red Flag

Shares outstanding increased 8.2% — significant dilution, likely from stock compensation or capital raises.