Public Comps and Valuation Multiples for Neoinsurance

Benchmark revenue and EBITDA valuation multiples for public comps like
Oscar Health, PB Fintech, Lemonade, Rasan and Accelerant.

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Viewing 25 of 29 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Oscar Health	$9.4B	$5B	$15B	0.3x	48.7x
PB Fintech	$7.6B	$7.4B	$775M	9.5x	101.8x
Lemonade	$5.4B	$5.2B	$983M	5.3x	(63.9x)
Rasan	$2.8B	$2.6B	$225M	11.6x	26.4x
Accelerant	$2.8B	$1.4B	$1B	1.3x	4.8x
Clover Health	$2.5B	$2.1B	$2.4B	0.9x	52.7x
Slide Insurance Holdings	$2.4B	$1.2B	$1.7B	0.7x	2.0x
ZhongAn	$2.1B	$2.1B	$5B	0.4x	6.9x
Exzeo Group	$1.5B	$1.3B	$220M	6.0x	11.3x
Ethos Insurance	$1.2B	$1B	$480M	2.2x	10.6x
Trupanion	$1.1B	$853M	$1.5B	0.6x	11.5x
Root Inc.	$1B	$622M	$1.6B	0.4x	4.6x
Hippo Insurance	$753M	$529M	$521M	1.0x	60.0x
weSure	$683M	$584M	-	-	-
Waterdrop	$424M	$336M	$704M	0.5x	5.0x
AIX Inc.	$227M	$235M	-	-	-
SelectQuote	$136M	$788M	$1.7B	0.5x	8.2x
MNC Financial Services	$118M	($69M)	-	-	-
Health In Tech	$71M	$61M	$40M	1.5x	89.7x
eHealth	$53M	$75M	$489M	0.2x	0.9x
Cheche Group	$38M	$31M	$445M	0.1x	-
YSX Tech	$28M	$35M	-	-	-
Nord Insuretech Group	$25M	$26M	-	-	-
Waterdrop Inc.	$20M	$49M	-	-	-
Aijinet	$17M	$21M	-	-	-
Huize Holding	$11M		$229M
Zhibao Technology	$10M		-
Yolo Group	$9M		-
GoHealth	$6M		$304M