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Figs, Inc. (FIGS) stock

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NYSE: FIGS NYSE Apparel, Accessories & Luxury Goods Next results ~November 5, 2026

B Fundamentals grade

Figs, Inc. is a US-listed company in the apparel, accessories & luxury goods industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$9.5

Cash-flow model

Base case. Range ~$7.6–$12 across our lower- and higher-growth cases (12.4%–22.4% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 55% below it.

Price used: $21.29, November 2, 2026

Figs, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 3 selling0 purchases and 11 sales by directors and officers, last 12 monthsInsider trades
  • Funds132 adding, 111 cuttingOf 53 active managers that changed their stake, 29 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Figs files

Where Figs stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $710m, up 24.7% on a year earlier, faster than the 18.7% growth a quarter earlier. That growth ranks 1 of 20 among the apparel, accessories & luxury goods companies we cover. Free-cash-flow margin rose to 13.7% from 7.0% a year earlier. Operating margin widened to 9.6% from 1.8%. The diluted share count is up 11.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $10.16 a share, against a share price of $22.14. At that price, our model says the market is pricing in about 33.9% a year of cash-flow growth for five years, faster than the 11.1% a year revenue growth it has delivered.

Source: 10-Q filed August 6, 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.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Figs, Inc.'s trailing-twelve-month revenue grew 24.7% year on year, with a free-cash-flow margin of 13.7%. Where it stands out: days sales outstanding of 3 days ranks 1 of 24 apparel, accessories & luxury goods companies we cover. Where it lags: stock pay as % of revenue of 3.4% ranks 25 of 26 apparel, accessories & luxury goods companies we cover.

Our discounted-cash-flow model values the business at ~$9.5 per share in the base case (~$7.6–$12 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 143.8% while net income grew 762.2%: a 618pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 24.7% over the last 12 months, against a median of 1.6% for apparel, accessories & luxury goods companies we cover.
  • Growth speeding up. The growth rate is 6.0 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 7.9 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.1bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Priced above our value. The share price of $21.29 is 55% above our value per share of $10.
  • Share dilution. Diluted shares rose 11.3% in a year.
  • High earnings multiple. The shares trade at 66 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 71% and a beta of 0.8 against the S&P 500.
  • Insiders selling. 3 insiders sold $13M of stock over the past 365 days and none bought (26% under pre-set trading plans).

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.11 against an average estimate of $0.07: beat by 66.9%
Revenue
$197m, up 28.8% on a year earlier
Share reaction
+30.6% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
net Revenues growth vs. 2025 growth 20% (Full Year 2026); adjusted EBITDA Margin 14.8% to 15% (Full Year 2026)
Next report
November 5, 2026; average EPS estimate $0.07

Figs' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.1%
  • 1 week+2.2%
  • 1 month+57.5%
  • This year+87.4%
  • 1 year+185.4%
  • 5 years-49.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$710M
Operating margin
9.6%
Net margin
8.7%
EPS (TTM, diluted)
$0.32

Growth

Revenue growth
+24.7%
Change in growth rate
+6.0 pts
Share count change
+11.3%

Cash

Free cash flow (TTM)
$97.2M
FCF margin
13.7%
Stock pay % of revenue
3.4%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Figs, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 33.1% a year of cash-flow growth for five years.That is faster than the 11.1% a year revenue growth Figs has delivered.

  • Priced in33.1%
  • Last 12 months24.7%
  • 3 years a year10.1%
  • 5 years a year11.1%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($21.18, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$9.5
Price used
$21.18close November 3, 2026
Implied change
▼ 55%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Figs, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($42.9M, FY2026 Q2 TTM), growing 13.5% and 14.8% in the next two years (forecasts, guidance and its record), then back to 17.4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$7.6–~$12 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Figs, Inc.'s free cash flow after stock-based pay ( $42.9M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Figs, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.97 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$9.5 ~$7.6–$12 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$5.0 ~$4.4–$6.4 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$1.9 ~$1.2–$2.9 Left out: out of range vs price (0.09x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$1.8 ~$1.6–$2.1 Left out: out of range vs price (0.08x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) 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. ~$8.0 ~$5.0–$9.5 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Figs, Inc. with Apparel, Accessories & Luxury Goods 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.

What moves the value

  • Revenue growth 5 points lower ▼ −22%
  • Revenue growth 5 points higher ▲ +28%
  • Free-cash-flow margin 1 point lower ▼ −7%
  • Last year's free-cash-flow margin change, if it persists ▲ +84%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $5$6$7$9$12$15
8.5% $4$5$6$7$9$11
10% $3$4$5$6$7$9

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$27.56$6.73$6.95$6.19$11.36$21.29
Market value$4.4bn$1.3bn$1.3bn$1.1bn$2.0bn$4.1bn
+ Net debt (− = net cash)−$195m−$160m−$144m−$86m−$82m−$109m
Enterprise value$4.2bn$1.1bn$1.1bn$1.0bn$2.0bn$4.0bn
Multiples
Price / sales 10.5x2.5x2.3x2.0x3.2x5.8x
Price / earnings —59.6x56.0xn/m59.5x66.5x
Price / free cash flow 68.8x—15.0x17.4x38.5x42.4x
EV / EBITDA n/m27.8x30.4x114.9x41.5x50.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

47 /100

Moderate moat

How hard Figs's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 3 / 20

    Net income has been a median 3.5% of total assets over 6 years.

  • Pricing power 20 / 20

    Gross margin has been a median 69.4%, moving by 1.8 percentage points (standard deviation) across 6 years.

  • Durability 5 / 20

    Operating margin has been a median 5.4%; its worst year was 1.8%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 6 of 6 years, at a median 7.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (52 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $183m and EPS of $0.07 (range $0.07 to $0.08) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.36 +90% $761m +21%
Next $0.38 +5% $833m +9%

Next year's EPS estimate has moved +17.4% in 90 days, across 8 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +35.4% on 90 days ago. In the last 30 days, 0 analysts raised Figs, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Figs, Inc., last 90 days
$0.25 $0.30 $0.35 $0.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.27 Current fiscal year, 60 days ago: $0.36 Current fiscal year, 30 days ago: $0.36 Current fiscal year, 7 days ago: $0.36 Current fiscal year, Now: $0.36 $0.36 Next fiscal year, 90 days ago: $0.32 Next fiscal year, 60 days ago: $0.37 Next fiscal year, 30 days ago: $0.38 Next fiscal year, 7 days ago: $0.38 Next fiscal year, Now: $0.38 $0.38

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.27$0.32
60 days ago $0.36$0.37
30 days ago $0.36$0.38
7 days ago $0.36$0.38
Now $0.36$0.38

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.07 $0.11 +66.9%
Mar 2026 $0.02 $0.03 +77.7%
Dec 2025 $0.02 $0.10 +381.9%
Sept 2025 $0.02 $0.05 +180.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • Net Revenues growth vs. 2025 Full Year 2026 about 20% growth Raised
    “Net Revenues growth vs. 2025 up approximately 20%” source
  • Adjusted EBITDA Margin Full Year 2026 14.8% to 15% Non-GAAP Raised
    “Adjusted EBITDA Margin (2)(4) 14.8% to 15.0%” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Figs, Inc.'s revenue by +13.5% next year and +14.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+12.3%, weight 53%) , management guidance (+11.7%, weight 20%) and the company's own record (+17.4%, weight 27%) . How the weights are set.

Analyst recommendations

9 analysts, Oct 2026
Buy556%
Hold444%
Sell00%

Monthly trend

  1. Oct 20261449
  2. Sep 20261449
  3. Aug 20261449
  4. Jul 20261449

Counts of recommendations published by analysts covering Figs, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
21.8%
of tradable shares
Days to cover
5.38
at average volume
Short interest, 1 month
+20%
to October 15, 2026
Held by institutions
100%
of shares
Held by insiders
4.5%
of shares
Employees
330
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +185.4%

$7.46 on October 31, 2025 to $21.29

ThenNowEffect
Revenue (last 12 months) $570m $710m +24.7%
Net margin 1.3% 8.7% +591.6%
P/E multiple 180.6x 66.5x −63.2%
Share count 174m 193m −10.1%

Biggest factor: net margin.

Last 3 years +212.6%

$6.81 on November 3, 2023 to $21.29

ThenNowEffect
Revenue (last 12 months) $532m $710m +33.5%
Net margin 2.6% 8.7% +233.0%
P/E multiple 89.7x 66.5x −25.9%
Share count 184m 193m −5.1%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
FIGS−76%+3%−11%+84%+87%
Industry peers (median)−36%+0%−6%−12%+12%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
FIGS42%50%50%67%46%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
FIGS−79%−46%−37%−42%−46%
S&P 500−25%−10%−8%−19%−9%

Worst fall since May 27, 2021: 93% from June 30, 2021 to April 8, 2025. Getting back needed a 1284% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$7.38 – $21.56
From 52-week high
−1.3%
vs 50-day average
+33.9%
vs 200-day average
+57.8%
Volatility (1 year)
71%
Beta vs S&P 500
0.80

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±17.4%
After a week
6 up, 6 down
typical move ±18.0%
After a month
7 up, 5 down
typical move ±21.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +30.6% +0.5% +35.9% +32.1%
May 7, 2026 −19.8% +0.5% −17.4% −20.1%
February 26, 2026 +41.0% −1.0% +54.8% +34.1%
November 6, 2025 +12.8% −1.0% +24.0% +50.8%
August 7, 2025 −2.8% +0.7% +6.9% +6.7%
May 8, 2025 +0.6% +0.6% −5.1% +5.5%
February 27, 2025 −19.8% −0.1% −14.6% −17.5%
November 7, 2024 −25.4% +1.2% −21.8% −18.4%
August 8, 2024 −11.0% +2.8% −2.4% −2.7%
May 9, 2024 +4.7% +0.7% +12.6% +8.7%
February 28, 2024 −12.2% +0.2% −9.7% −16.4%
November 2, 2023 +28.7% +2.8% +10.8% +39.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Figs, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

FIGS Figs, Inc. Grade B $21.71

Own 100 shares, sell the $22.50 call expiring December 18, 2026 (46 days) for $1.90 a share — $190 per contract.

Previous session · Bid $1.90, ask $2.20, quoted Mon 2 Nov, 17:23 New York time with FIGS at $21.71. Option prices move with the shares: check the live chain at your broker before trading.

  • If FIGS ends below $22.50: you keep your shares and the $190 — 8.8% extra on the position, 69.4% a year at that pace.
  • If it ends above $22.50: your shares are sold at $22.50, a total return of 12.4% including the premium — at or above our value of ~$9.5.
$269 $0 −$396 Break-even $19.81 Price $21.71 ← Our value ~$9.5
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$190
Annualised
69.4%
Break-even
$19.81
Max gain
$269
Chance of selling
~52%

Results are expected around November 5, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Figs, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Figs, Inc.
$500M $550M $600M $650M $700M $750M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $545.6M Revenue (TTM), FY23 Q4: $545.6M Revenue (TTM), FY24 Q1: $544.7M Revenue (TTM), FY24 Q2: $550.8M Revenue (TTM), FY24 Q3: $548.6M Revenue (TTM), FY24 Q4: $555.6M Revenue (TTM), FY25 Q1: $561.2M Revenue (TTM), FY25 Q2: $569.6M Revenue (TTM), FY25 Q3: $581M Revenue (TTM), FY25 Q4: $631.1M Revenue (TTM), FY26 Q1: $666.1M Revenue (TTM), FY26 Q2: $710.1M $710.1M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $545.6M
FY23 Q4 $545.6M
FY24 Q1 $544.7M
FY24 Q2 $550.8M
FY24 Q3 $548.6M
FY24 Q4 $555.6M
FY25 Q1 $561.2M
FY25 Q2 $569.6M
FY25 Q3 $581M
FY25 Q4 $631.1M
FY26 Q1 $666.1M
FY26 Q2 $710.1M
Revenue growth, TTM YoY Figs, Inc.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 11.4% Revenue growth, TTM YoY, FY23 Q4: 7.9% Revenue growth, TTM YoY, FY24 Q1: 5.6% Revenue growth, TTM YoY, FY24 Q2: 3.6% Revenue growth, TTM YoY, FY24 Q3: 0.6% Revenue growth, TTM YoY, FY24 Q4: 1.8% Revenue growth, TTM YoY, FY25 Q1: 3.0% Revenue growth, TTM YoY, FY25 Q2: 3.4% Revenue growth, TTM YoY, FY25 Q3: 5.9% Revenue growth, TTM YoY, FY25 Q4: 13.6% Revenue growth, TTM YoY, FY26 Q1: 18.7% Revenue growth, TTM YoY, FY26 Q2: 24.7% 24.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 11.4%
FY23 Q4 7.9%
FY24 Q1 5.6%
FY24 Q2 3.6%
FY24 Q3 0.6%
FY24 Q4 1.8%
FY25 Q1 3.0%
FY25 Q2 3.4%
FY25 Q3 5.9%
FY25 Q4 13.6%
FY26 Q1 18.7%
FY26 Q2 24.7%
Operating margin (TTM) Figs, Inc.
0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 4.2% Operating margin (TTM), FY23 Q4: 6.2% Operating margin (TTM), FY24 Q1: 5.7% Operating margin (TTM), FY24 Q2: 4.8% Operating margin (TTM), FY24 Q3: 1.4% Operating margin (TTM), FY24 Q4: 0.4% Operating margin (TTM), FY25 Q1: 0.3% Operating margin (TTM), FY25 Q2: 1.8% Operating margin (TTM), FY25 Q3: 4.9% Operating margin (TTM), FY25 Q4: 6.0% Operating margin (TTM), FY26 Q1: 6.4% Operating margin (TTM), FY26 Q2: 9.6% 9.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 4.2%
FY23 Q4 6.2%
FY24 Q1 5.7%
FY24 Q2 4.8%
FY24 Q3 1.4%
FY24 Q4 0.4%
FY25 Q1 0.3%
FY25 Q2 1.8%
FY25 Q3 4.9%
FY25 Q4 6.0%
FY26 Q1 6.4%
FY26 Q2 9.6%
FCF margin (TTM) Figs, Inc.
0% 5% 10% 15% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 13.6% FCF margin (TTM), FY23 Q4: 15.5% FCF margin (TTM), FY24 Q1: 18.2% FCF margin (TTM), FY24 Q2: 14.2% FCF margin (TTM), FY24 Q3: 9.2% FCF margin (TTM), FY24 Q4: 11.5% FCF margin (TTM), FY25 Q1: 10.9% FCF margin (TTM), FY25 Q2: 7.0% FCF margin (TTM), FY25 Q3: 3.8% FCF margin (TTM), FY25 Q4: 8.4% FCF margin (TTM), FY26 Q1: 5.9% FCF margin (TTM), FY26 Q2: 13.7% 13.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 13.6%
FY23 Q4 15.5%
FY24 Q1 18.2%
FY24 Q2 14.2%
FY24 Q3 9.2%
FY24 Q4 11.5%
FY25 Q1 10.9%
FY25 Q2 7.0%
FY25 Q3 3.8%
FY25 Q4 8.4%
FY26 Q1 5.9%
FY26 Q2 13.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Figs took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $631M
  2. Other income $9.1M · 1.4%
  3. Cost of revenue $211M · 33.5%
  4. Gross profit $420M · 66.5%
  5. Selling, general and admin $143M · 22.6%
  6. Other operating costs $239M · 37.9%
  7. Operating income $38.1M · 6.0%
  8. Income tax $13M · 2.1%
  9. Net income $34.3M · 5.4%

Shares of revenue. Source: Figs's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 110 263 420 506 546 556 631 710
Gross profit 79 190 301 354 377 376 420 489
EBITDA 0 59 12 40 37 9 47 79
Operating income −0 58 11 38 34 2 38 68
Net income 0 50 −10 21 23 3 34 62
Diluted EPS $0.00 $0.30 −$0.06 $0.11 $0.12 $0.02 $0.19 $0.32
Growth (year on year)
Revenue — +138.1% +59.5% +20.6% +7.9% +1.8% +13.6% +24.7%
EBITDA — — −78.9% +219.1% −6.6% −75.8% — +316.8%
Operating income — — −81.0% +242.9% −9.6% −93.3% — —
Net income — — −119.2% — +6.8% −88.0% — —
Diluted EPS — — −120.0% — +9.1% −83.3% — —
Margins
Gross margin 71.8% 72.3% 71.8% 70.1% 69.1% 67.6% 66.5% 68.9%
EBITDA margin 0.1% 22.4% 3.0% 7.8% 6.8% 1.6% 7.5% 11.1%
Operating margin −0.3% 22.0% 2.6% 7.4% 6.2% 0.4% 6.0% 9.6%
Net margin 0.1% 18.9% −2.3% 4.2% 4.1% 0.5% 5.4% 8.7%
Free-cash-flow margin 1.6% 7.4% 15.2% −8.0% 15.5% 11.5% 8.4% 13.7%
Cash flow
Cash from operations 7 22 66 −35 101 81 61 108
Capital spending 5 2 3 5 16 17 8 11
Free cash flow 2 19 64 −41 85 64 53 97
Stock-based pay 0 9 81 37 46 43 27 24
Free cash flow after stock pay 2 11 −17 −78 39 21 26 73
Balance sheet
Cash 38 58 195 160 144 86 82 109
Total debt 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −38 −58 −195 −160 −144 −86 −82 −109
Diluted shares 154m 163m 159m 188m 182m 180m 179m 193m
Returned to shareholders
Buybacks — — — 0 0 45 3 33
Total returned — — — 0 0 45 3 33

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $583m
Short-term assets $453mLonger-term assets $130m
What it owes, and who funded it · $583m
Short-term liabilities $91mLonger-term liabilities $49mShareholders' equity $442m
  • Short-term assets cover short-term liabilities $453m of assets due within a year against $91m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $453m short-term assets against $49m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Figs, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$32.8M
Returned to shareholders
34%
of free cash flow
Buybacks, last 3 fiscal years
$48.1M
Diluted share count
+11.3%
year over year
Total shareholder yield
0.8%
dividends 0.0% + buybacks 0.8% of market value
Days sales outstanding
3 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in apparel, accessories & luxury goods
Last 12 months unless stated FIGS MOV SGC UFI FOSL BRLT Median
Revenue, last 12 months $710m $690m $574m $531m $985m $449m $1.5bn
Revenue growth, last 12 months 24.7% 5.2% −0.4% −7.0% −9.1% 6.4% 1.6%
Revenue growth, 3-year average 10.1% −0.6% 1.6% −5.2% −14.6% 0.8% −1.5%
Revenue growth, latest quarter 28.8% 4.9% 2.6% 4.1% −4.9% 5.7% 1.1%
Gross margin 68.9% 56.1% 37.6% 1.4% 56.7% 56.5% 52.5%
Operating margin 9.6% 6.9% — −2.8% −0.6% −2.0% 4.4%
Operating margin, 3-year average 5.4% 5.0% — −3.6% −4.9% −0.5% 2.5%
Net margin 8.7% 6.0% 1.4% −4.6% −7.1% −1.0% 3.9%
Cash from operations / revenue 15.2% 10.9% 6.0% 5.0% −3.8% 1.4% 9.2%
Free-cash-flow margin 13.7% 10.3% 5.5% 4.1% −4.2% 0.6% 7.5%
Free-cash-flow margin, 3-year average 11.6% 5.5% 5.9% −1.0% −1.4% 2.2% 5.8%
Stock pay / revenue 3.4% 0.4% 0.8% 0.7% 0.4% 1.6% 0.9%
Change in share count 11.3% 1.3% −4.9% 1.0% 6.4% −21.7% 0.0%

Median of all 29 companies we cover in apparel, accessories & luxury goods. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

29 apparel, accessories & luxury goods companies
Measure Company Peer median Rank
Revenue growth Growth 24.7% 1.6% 2 of 29
Change in growth rate Growth +6.0pp +0.0pp 6 of 29
Gross margin Profitability 68.9% 52.5% 3 of 27
Operating margin Profitability 9.6% 4.5% 6 of 26
Net margin Profitability 8.7% 3.9% 7 of 29
Free-cash-flow margin Cash generation 13.7% 7.6% 2 of 28
Stock pay as % of revenue Cash generation 3.4% 1.0% 25 of 26
Change in share count Balance sheet 11.3% 0.0% 23 of 25
Days sales outstanding Balance sheet 3 days 38 days 1 of 24

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Scrubwear $509M 80.6% ▲ 14.3%
Non Scrubwear Lifestyle $122M 19.4% ▲ 10.6%
Geography
Region Revenue Share YoY
United States $527M 83.6% ▲ 11.2%
Outside the US $104M 16.4% ▲ 27.5%

From Figs, Inc.'s 10-K filed February 26, 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.

Who owns it

Funds buying and selling
Reported value
$1.6B
Institutions reporting
241
Shares held vs prior quarter
▲ 3.0%
Positions opened / closed
44 / 42

Top buyers and sellers, Q2 2026: 132 institutions bought and 111 sold ; the biggest buyer was Jane Street Group, LLC (+2.0M shares) and the biggest seller Ameriprise Financial Inc (−2.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
BAMCO Inc $613M 60.0M 38.4% 0.0%
Blackrock, Inc. $87.4M 8.5M 5.5% ▲ 9.0%
Driehaus Capital Management LLC $52.8M 5.2M 3.3% ▲ 23.6%
Vanguard Capital Management LLC $47.8M 4.7M 3.0% ▲ 2.6%
Vanguard Portfolio Management LLC $44.9M 4.4M 2.8% ▲ 7.3%
Marshall Wace, LLP $44.4M 4.3M 2.8% ▲ 34.8%
Arrowstreet Capital, Limited Partnership $38.3M 3.7M 2.4% ▼ 8.1%
Goldman Sachs Group Inc $37.7M 3.7M 2.4% ▲ 56.5%
Geode Capital Management, LLC $37.3M 3.6M 2.3% ▲ 8.2%
Dimensional Fund Advisors LP $36.5M 3.6M 2.3% ▲ 0.4%
Divisadero Street Capital Management, LP $32.6M 3.2M 2.0% ▼ 0.2%
State Street Corp $27M 2.6M 1.7% ▲ 8.7%

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 Figs, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $12.7M 11 trades by 3 insiders · 26% under pre-set plans
Net ▼ $12.7M net selling
Insider Date Trade Shares Price Value
Hasson Heather L. Executive Chairman May 4, 2026 Sell pre-set plan 32,385 $14.33 $464,077
Oughtred Sarah Chief Financial Officer May 4, 2026 Sell pre-set plan 23,597 $14.33 $338,145
Spear Catherine Eva Chief Executive Officer April 2, 2026 Sell pre-set plan 62,335 $14.44 $900,117
Oughtred Sarah Chief Financial Officer April 2, 2026 Sell pre-set plan 10,872 $14.44 $156,992
Hasson Heather L. Executive Chair March 3, 2026 Sell 556,327 $16.85 $9.4M
Hasson Heather L. Executive Chair February 5, 2026 Sell pre-set plan 22,874 $10.56 $241,549
Oughtred Sarah Chief Financial Officer February 5, 2026 Sell pre-set plan 22,690 $10.56 $239,606
Oughtred Sarah Chief Financial Officer January 7, 2026 Sell pre-set plan 10,515 $11.50 $120,922
Spear Catherine Eva Chief Executive Officer January 6, 2026 Sell pre-set plan 49,734 $11.38 $565,973
Hasson Heather L. Executive Chair November 4, 2025 Sell pre-set plan 23,356 $7.39 $172,601
Oughtred Sarah Chief Financial Officer November 4, 2025 Sell pre-set plan 22,745 $7.39 $168,086

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.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Figs, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Figs, Inc. in brief

What does Figs, Inc. do?
Figs, Inc. is a US-listed company in the apparel, accessories & luxury goods industry. Its financial year ends in December.
What is Figs, Inc.'s stock ticker?
Figs, Inc. trades under the ticker FIGS on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Figs, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Figs, Inc. reported revenue of $710M, 24.7% higher than a year earlier, according to its SEC filings.
What is Figs, Inc.'s free cash flow?
Figs, Inc.'s free-cash-flow margin is 13.7% of revenue over the trailing twelve months, ranking 2 of the 28 apparel, accessories & luxury goods companies we cover.
What is Figs, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Figs, Inc.'s free cash flow after stock-based pay gives ~$9.5 per share in the base case, and ~$7.6–$12 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Figs, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are BAMCO Inc, Blackrock, Inc. and Driehaus Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Figs, Inc. buying back stock, and does it pay a dividend?
Figs, Inc. spent $32.8M on share repurchases over the trailing twelve months, and its diluted share count still rose 11.3% over the year.
What is Figs, Inc.'s market cap?
On November 2, 2026, Figs, Inc.'s market capitalisation was about $4.1B, with a price-to-earnings ratio of 66.5 and net debt of -$109M. Market figures come from third-party market data and may be delayed.
Who are Figs, Inc.'s competitors?
In our Apparel, Accessories & Luxury Goods peer group, the companies closest to Figs, Inc. are Movado Group Inc, Superior Group Of Companies, Inc., Unifi Inc, Fossil Group, Inc. and Brilliant Earth Group, Inc. The side-by-side comparison below sets their revenue, margins and growth against Figs, Inc.'s.
Are insiders buying or selling Figs, Inc. stock?
Over the last 12 months, Figs, Inc.'s directors and officers reported 0 open-market purchases and 11 sales on Form 4. The insider trading page charts every trade.
When is Figs, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Figs, Inc. announces its own schedule.