Lemonade (LMND) Operating Margin (2019 - 2026)
Lemonade (LMND) recorded quarterly Operating Margin of 4.61% in Q1 2026, up 90.95% quarter-over-quarter from 2.41% in Q4 2025, and down 167.0% on a YoY basis from 6.88% in Q1 2025.
Lemonade (LMND) Operating Margin (2019 - 2026) Analysis & Trends
Lemonade's Operating Margin history runs 8 years deep, the most recent figure standing at 4.61% for Q1 2026.
- In Q1 2026, Operating Margin fell 167.0% year-over-year to 4.61%; the TTM figure through Mar 2026 stood at 4.0% (down 293.0% YoY), while the FY2025 annual figure was 5.12%, down 134.0% from the prior year.
- Operating Margin was 4.61% for Q1 2026 at Lemonade, up from 2.41% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 90.24% in Q4 2022 to a low of 2.03% in Q1 2022.
- Historically, Operating Margin has averaged 10.31% across 5 years, with a median of 5.35% in 2023.
- The sharpest annual moves came in 2022 and 2023: Operating Margin surged 8670 bps in 2022, then plunged 8667 bps in 2023.
- A 5-year view of Operating Margin shows it stood at 90.24% in 2022, then sank by 96 bps to 3.58% in 2023, then jumped by 77 bps to 6.32% in 2024, then slumped by 62 bps to 2.41% in 2025, then jumped by 91 bps to 4.61% in 2026.
- The last three Operating Margin figures came in at 4.61% (Q1 2026), 2.41% (Q4 2025), and 4.99% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Chubb | 127.40 Bn | 119.98 Bn | 8.64 Bn | 11.57% |
| 2 | Progressive | 119.47 Bn | 115.12 Bn | 8.36 Bn | -46.25% |
| 3 | Travelers Companies | 65.26 Bn | 41.34 Bn | 5.54 Bn | 8.45% |
| 4 | Allstate | 57.33 Bn | 32.74 Bn | 14.72 Bn | 5.54% |
| 5 | Berkley W R | 26.90 Bn | 23.16 Bn | 2.72 Bn | 10.96% |
| 6 | Cincinnati Financial | 25.67 Bn | 24.41 Bn | 2.60 Bn | 12.21% |
| 7 | Markel | 22.97 Bn | 7.51 Bn | 2.38 Bn | -7.70% |
| 8 | Loews | 22.18 Bn | 9.92 Bn | -1.32 Bn | 71.45% |
| 9 | Assurant | 12.79 Bn | 10.87 Bn | 2.01 Bn | 5.74% |
| 10 | Lemonade | 3.93 Bn | 3.52 Bn | 146.50 Mn | 4.61% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 4.61% |
| Dec 31, 2025 | 2.41% |
| Sep 30, 2025 | 4.99% |
| Jun 30, 2025 | 5.73% |
| Mar 31, 2025 | 6.28% |
| Dec 31, 2024 | 6.32% |
| Sep 30, 2024 | 9.30% |
| Jun 30, 2024 | 6.64% |
| Mar 31, 2024 | 9.00% |
| Dec 31, 2023 | 3.58% |
| Sep 30, 2023 | 6.11% |
| Jun 30, 2023 | 5.35% |
| Mar 31, 2023 | 5.25% |
| Dec 31, 2022 | 90.24% |
| Sep 30, 2022 | 3.51% |
| Jun 30, 2022 | 3.85% |
| Mar 31, 2022 | 2.03% |
| Dec 31, 2021 | 3.54% |
| Sep 30, 2021 | 1.68% |
| Jun 30, 2021 | 0.71% |