Figure Technology Solutions, Inc. is a US-listed company in the consumer finance industry. Its financial year ends in December.
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~$8.7
Valuation models combined (5)
Base case. Range ~$4.6–$10. Weighted average of 5 models (residual income, justified price-to-book, price-to-book vs return on equity (peers), price-to-book vs peers, price-to-earnings vs peers), the residual income counting double.
No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.
Figure Technology Solutions, Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months to June 2026 was $709m. Our valuation models combined value is $15.62 a share, against a share price of $26.25.
Source: 10-Q filed August 14, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Current signal Revenue growth accelerating: TTM revenue growth rose to 88.8% (+20.5pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
We value Figure Technology Solutions, Inc. as a bank or lender, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.78 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$10 ~$6.9–$16 | Primary model, counts double |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$10 ~$8.7–$13 | Included |
| Price-to-book vs return on equity (peers) The price-to-book that peers with this return on equity trade on, from a line fitted across peers. | ~$8.5 ~$5.3–$12 | Included |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$4.6 ~$6.0–$8.9 | Included |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | ~$7.8 ~$8.9–$12 | Included |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | — | Does not apply: pays no regular dividend |
| Combined value Weighted average of the models that apply: the primary model (residual income) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$8.7 ~$4.6–$10 | 5 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Figure Technology Solutions, Inc. with banks and lenders in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Next results: November 12, 2026, before the open. Analysts expect revenue of $255m and EPS of $0.34 (range $0.34 to $0.34) for the quarter.
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $1.45 | −1% | $904m | +78% |
| Next | $1.89 | +30% | $1.2bn | +37% |
Next year's EPS estimate has moved +22.7% in 90 days, across 1 analysts.
The consensus EPS forecast for the current fiscal year is +8.6% on 90 days ago. In the last 30 days, 1 analyst raised Figure Technology Solutions, Inc.'s forecast and 0 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $1.33 | $1.54 |
| 60 days ago | $1.29 | $1.44 |
| 30 days ago | $1.26 | $1.49 |
| 7 days ago | $1.45 | $1.87 |
| Now | $1.45 | $1.89 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | $0.32 | $0.40 | +23.7% |
| Mar 2026 | $0.23 | $0.20 | −10.0% |
| Dec 2025 | $0.18 | $0.12 | −35.6% |
| Sept 2025 | $0.17 | $0.77 | +362.4% |
Adjusted EPS as companies report it, against the average analyst estimate.
| Calendar year | 2026 to date |
|---|---|
| Return | |
| FIGR | −47% |
| Industry peers (median) | +1% |
| S&P 500 | +11% |
| Months that ended higher | |
| FIGR | 55% |
| S&P 500 | 46% |
| Largest fall from a high during the year | |
| FIGR | −71% |
| S&P 500 | −9% |
Worst fall since September 11, 2025: 71% from January 16, 2026 to October 30, 2026. Getting back needed a 243% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| October 7, 2026 | +0.9% | −0.7% | −8.4% | — |
| August 13, 2026 | +2.4% | +0.5% | +17.5% | +16.2% |
| July 7, 2026 | −10.9% | −0.8% | −12.9% | −16.5% |
| May 12, 2026 | +4.0% | +0.4% | −7.0% | −27.8% |
| April 3, 2026 | −6.4% | +0.5% | −1.2% | +4.4% |
| February 26, 2026 | −27.1% | −1.0% | −9.1% | −10.6% |
| February 13, 2026 | +8.3% | +0.2% | −11.3% | +1.0% |
| January 12, 2026 | −3.1% | 0.0% | +23.6% | −39.0% |
| November 13, 2025 | +7.9% | −1.7% | −4.6% | +2.1% |
Source: SEC EDGAR filings. Retrieved October 20, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY25 Q1 | $350.1M |
| FY25 Q2 | $375.4M |
| FY25 Q3 | $430.8M |
| FY25 Q4 | $506.9M |
| FY26 Q1 | $589.4M |
| FY26 Q2 | $708.9M |
Source: SEC EDGAR filings. Retrieved October 20, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY25 Q1 | 11.8% |
| FY25 Q2 | 16.3% |
| FY25 Q3 | 20.4% |
| FY25 Q4 | 23.2% |
| FY26 Q1 | 25.7% |
| FY26 Q2 | 28.4% |
| Fiscal year | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|
| Income | ||||
| Revenue | 210 | 341 | 507 | 709 |
| Operating income | −49 | 9 | 118 | 201 |
| Net income | −48 | 17 | 134 | 237 |
| Diluted EPS | −$0.47 | $0.00 | $0.44 | — |
| Growth (year on year) | ||||
| Revenue | — | +62.7% | +48.7% | +88.8% |
| Operating income | — | — | +>999% | +229.5% |
| Net income | — | — | +677.6% | +282.9% |
| Margins | ||||
| Operating margin | −23.6% | 2.7% | 23.2% | 28.4% |
| Net margin | −22.9% | 5.0% | 26.4% | 33.5% |
| Cash flow | ||||
| Cash from operations | −33 | −127 | 63 | −86 |
| Stock-based pay | 13 | 39 | 62 | 112 |
| Balance sheet | ||||
| Cash | 176 | 290 | 1,198 | 1,438 |
| Total debt | 0 | 475 | 557 | 963 |
| Net debt (negative = net cash) | −176 | 185 | −641 | −475 |
| Diluted shares | 103m | 145m | 142m | — |
| Returned to shareholders | ||||
| Buybacks | 0 | 1 | 0 | — |
| Total returned | 0 | 1 | 0 | — |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 101 | 84 | 85 | 106 | 156 | 160 | 167 | 226 |
| Operating income | 26 | −1 | 8 | 28 | 53 | 29 | 42 | 78 |
| Net income | 27 | 5 | −1 | 30 | 90 | 15 | 45 | 87 |
| Diluted EPS | $0.09 | $0.00 | −$0.01 | $0.08 | $0.34 | $0.06 | $0.18 | $0.35 |
| Growth (year on year) | ||||||||
| Revenue | — | — | — | +31.4% | +54.8% | +90.7% | +97.6% | +112.7% |
| Operating income | — | — | — | +257.9% | +101.7% | — | +419.6% | +180.4% |
| Net income | — | — | — | +108.8% | +227.6% | +176.8% | — | +192.1% |
| Diluted EPS | — | — | — | — | +277.8% | — | — | +337.5% |
| Margins | ||||||||
| Operating margin | 25.9% | −1.0% | 9.6% | 26.1% | 33.7% | 18.1% | 25.1% | 34.5% |
| Net margin | 27.1% | 6.5% | −1.0% | 28.2% | 57.3% | 9.5% | 26.9% | 38.8% |
| Cash flow | ||||||||
| Cash from operations | −163 | 87 | −140 | 216 | −27 | 13 | −38 | −35 |
| Stock-based pay | 7 | 4 | 2 | 5 | 20 | 40 | 26 | 26 |
| Last 12 months unless stated | FIGR | CANG | RM | LU | DAVE | YRD | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $709m | $688m | $684m | $778m | $644m | $796m | $1.5bn |
| Revenue growth, last 12 months | 88.8% | 524.3% | 8.4% | −31.4% | 48.6% | −1.4% | 11.2% |
| Revenue growth, 3-year average | — | — | 8.1% | — | 39.6% | — | 11.3% |
| Revenue growth, latest quarter | 112.7% | — | 8.0% | — | 29.6% | — | 11.3% |
| Operating margin | 28.4% | −63.5% | — | — | −4.2% | −103.9% | 13.9% |
| Net margin | 33.5% | −90.4% | 7.0% | −37.5% | 34.6% | 1.0% | 10.6% |
| Cash from operations / revenue | −12.2% | −16.0% | 47.4% | 223.2% | 50.8% | 12.3% | 21.5% |
| Free-cash-flow margin | — | −17.3% | 46.7% | 222.1% | 50.7% | 11.9% | 18.4% |
| Free-cash-flow margin, 3-year average | — | — | 46.3% | — | 40.5% | 5.0% | 23.6% |
| Stock pay / revenue | 15.7% | 0.7% | 1.3% | — | 5.8% | 0.5% | 1.3% |
| Change in share count | — | 21.6% | −3.9% | 24.2% | −1.7% | −0.0% | −0.8% |
| Line of business | Revenue | YoY |
|---|---|---|
| Ecosystem and Technology Fees Including Program Fees | $121M | ▲ 326.7% |
| Ecosystem and Technology Fees | $107M | ▲ 429.1% |
| Ecosystem Fees | $56.8M | ▲ 46471.3% |
| Technology Offering Fees | $50.6M | ▲ 150.9% |
| Program Fees | $13.3M | ▲ 66.7% |
These categories overlap or exclude eliminations, so shares aren't shown.
From Figure Technology Solutions, Inc.'s 10-K filed March 16, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Ribbit Management Company, LLC | $346M | 11.3M | 9.5% | 0.0% |
| Jpmorgan Chase & Co | $305M | 11.3M | 8.4% | ▲ 104.6% |
| FMR LLC | $297M | 9.7M | 8.2% | ▼ 24.4% |
| Blackrock, Inc. | $154M | 5.0M | 4.2% | ▲ 201.2% |
| Fred Alger Management, LLC | $154M | 5.0M | 4.2% | ▲ 30.4% |
| Morgan Creek Capital Management, LLC | $136M | 4.4M | 3.8% | ▲ 14.6% |
| Vanguard Portfolio Management LLC | $132M | 4.3M | 3.6% | ▲ 232.6% |
| Bit Capital Gmbh | $118M | 3.8M | 3.2% | ▲ 53.3% |
| Vanguard Capital Management LLC | $116M | 3.8M | 3.2% | ▲ 149.7% |
| Morgan Stanley | $115M | 3.7M | 3.2% | ▲ 37.0% |
| Citadel Advisors LLC | $110M | 3.6M | 3.0% | ▲ 138.3% |
| Orland Properties Ltd | $76.8M | 2.5M | 2.1% | ▼ 36.8% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Figure Technology Solutions, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Kgil Minchung Chief Financial Officer | August 24, 2026 | Sell pre-set plan | 7,500 | $38.64 | $289,800 |
| Kgil Minchung Chief Financial Officer | August 24, 2026 | Sell pre-set plan | 500 | $39.36 | $19,680 |
| Stevens David Todd Chief Capital Officer | August 14, 2026 | Sell pre-set plan | 737 | $32.94 | $24,277 |
| Stevens David Todd Chief Capital Officer | August 14, 2026 | Sell pre-set plan | 6,135 | $32.03 | $196,504 |
| Stevens David Todd Chief Capital Officer | August 14, 2026 | Sell pre-set plan | 40,778 | $31.26 | $1.3M |
| Kgil Minchung Chief Financial Officer | August 12, 2026 | Sell pre-set plan | 4,000 | $30.03 | $120,120 |
| Kgil Minchung Chief Financial Officer | July 24, 2026 | Sell pre-set plan | 1,532 | $27.52 | $42,161 |
| Kgil Minchung Chief Financial Officer | July 24, 2026 | Sell pre-set plan | 2,379 | $28.48 | $67,754 |
| Kgil Minchung Chief Financial Officer | July 24, 2026 | Sell pre-set plan | 89 | $29.11 | $2,591 |
| Kgil Minchung Chief Financial Officer | June 30, 2026 | Sell pre-set plan | 4,000 | $30.03 | $120,120 |
| Kgil Minchung Chief Financial Officer | June 24, 2026 | Sell pre-set plan | 3,232 | $27.40 | $88,557 |
| Kgil Minchung Chief Financial Officer | June 24, 2026 | Sell pre-set plan | 64 | $29.01 | $1,857 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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