Companies: 10,795·Total market cap: $144.5T
Lemonade, Inc.

Lemonade, Inc.

LMNDNYSEFinancial Services● Active
$52.97
+$1.51(+2.93%)
Market Cap$4.1B
P/E Ratio—
52W High$99.9
52W Low$35.05
Free Cash FlowFinancialsRevenue

Lemonade, Inc. (LMND) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

LMND · free cash flow · updated Jun 8, 2026

Core FCF metrics

Free cash flow was −$25.9M for FY2025 (fiscal year ending 2025-12-31), down 24.5% year-over-year The FCF margin was -3.5%.

FY2025 Free Cash Flow−$25.9M▼ -24.5% YoY
Trailing 12M (TTM)$19.5MTrailing 4Q sum · TTM positive vs latest FY negative
FCF Margin-3.5%−$25.9M ÷ revenue
3-Year CAGRN/AN/A — contains negative FCF
5-Year CAGRN/AN/A — contains negative FCF
FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0
Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

Positive FCFNegative FCF
Free Cash Flow
YoY Growth %
lmnd free cash flow history · lmnd free cash flow chart · lmnd free cash flow growth rate · lmnd free cash flow last 10 years

Annual free cash flow data

Fiscal YearFree Cash FlowYoY ChangeFCF Margin
FY2025Latest−$25.9M▼ 24.5%-3.5%
FY2024−$20.8M▲ +83.8%-4.0%
FY2023−$128.3M▲ +25.9%-29.9%
FY2022−$173.1M▼ 12.4%-67.4%
FY2021−$154.0M▼ 60.2%-119.9%
FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP
lmnd free cash flow 2025 · lmnd free cash flow 2024 · lmnd free cash flow 2023 · lmnd operating cash flow

FCF valuation metrics

Lemonade, Inc. (LMND) trades at a FCF yield of 0.49% and a price-to-free-cash-flow ratio of 196.2x. FCF per share stands at $0.27, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)
0.49%
Free Cash Flow ÷ Market Cap
per FMP freeCashFlowYieldTTM definition
FCF per Share (TTM)
$0.27
TTM FCF ÷ Shares Outstanding
Price / FCF
x196.2
Share Price ÷ FCF per Share
EV / FCF (TTM)
x197.0
Enterprise Value basis
Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31
lmnd price to free cash flow · lmnd free cash flow yield · lmnd free cash flow per share · lmnd price to cash flow ratio

Cash flow statement summary

For FY2025, Lemonade, Inc. generated −$16.5M in operating cash flow and spent 9M in capital expenditures, yielding −$25.9M in free cash flow.

Operating Activities
−$16.5M
Cash from core business operations
2025-12-31
Investing Activities
−$89.1M
CapEx, acquisitions & investments
2025-12-31
Financing Activities
+$106.6M
Buybacks, dividends & debt
2025-12-31
FCF FormulaOperating CF (−$16.5M) − |CapEx| (9M) = FCF (−$25.9M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →
lmnd cash flow statement · lmnd cash flow statement 2025 · lmnd operating cash flow · lmnd cash flow from operations

Free cash flow vs peers (Financial Services)

#CompanyFree Cash FlowYoY
#1
Lemonade, Inc.
Lemonade, Inc.YOU
LMND
−$25.9M-24.5%
#2
JPMorgan Chase & Co.
JPMorgan Chase & Co.
JPM
$100.87B+340.1%#3
Berkshire Hathaway Inc.
Berkshire Hathaway Inc.
BRK-B
$25.04B+115.6%#4
Berkshire Hathaway Inc.
Berkshire Hathaway Inc.
BRK-A
$25.04B+115.6%#5
Visa Inc.
Visa Inc.
V
$21.58B+15.4%#6
Mastercard Incorporated
Mastercard Incorporated
MA
$16.91B+18.2%
Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Lemonade, Inc. (LMND) reported free cash flow of −$25.9M for FY2025 (fiscal year ending 2025-12-31), down 24.5% year-over-year. The FCF margin was -3.5%.

Lemonade, Inc. has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 9 fiscal years.

Lemonade, Inc.'s FCF yield is 0.49% and price-to-FCF ratio is 196.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.
RevenueFinancial statementsNet incomeEarningsForecastPrice historyMarket capCash on handP/E ratio

Frequently asked questions

LMND free cash flow · 8 questions

Lemonade, Inc. free cash flow was −$25.9M for FY2025, down 24.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $19.5M.

LMND free cash flowLMND FCFLMND FCF 2025LMND free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Lemonade, Inc. · Lemonade, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026