FIGS
FIGS, Inc.
FIGS's fundamentals are strong and it looks cheap: trading at 60x earnings, below its usual 86x. Analysts expect strong earnings growth, though they disagree widely on how much.
FIGS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
FIGS's revenue, profitability, cash flow and balance sheet are all currently healthy.
FIGS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 48x | $18.14 | -20% |
| Forward | 57x | $22.68 | — |
| Current | 60x | $22.68 | — |
| Fair | 86x | $32.55 | +43% |
| Expensive | 177x | $67.36 | +197% |
Historical ranges are pointers, not guarantees.
FIGS's PE is in its cheap range at 60x. If earnings grow as analysts expect, today's price would be 57x next year's earnings.
FIGS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for FIGS, with profitability improving. However, they disagree widely on these estimates.
FIGS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.40 | +5.3% |
| Q3 2026 | $0.38 | +280% |
| Q2 2026 | $0.33 | +725% |
| Q1 2026 | $0.22 | +2100% |
| Q4 2025 | $0.19 | +850% |
| Q3 2025 | $0.10 | +43% |
| Q2 2025 | $0.04 | -64% |
| Q1 2025 | $0.01 | -92% |
| Q4 2024 | $0.02 | -83% |
FIGS's earnings per share have jumped to their highest in five years: $0.38 over the past year, up from $0.10 the year before.
FIGS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $190.7M | +26% |
| Q2 2026 | $196.6M | +29% |
| Q1 2026 | $159.9M | +28% |
| Q4 2025 | $201.9M | +33% |
| Q3 2025 | $151.7M | +8.2% |
| Q2 2025 | $152.6M | +5.8% |
| Q1 2025 | $124.9M | +4.7% |
| Q4 2024 | $151.8M | +4.8% |
FIGS's revenue has grown year over year for eight quarters in a row: $191M last quarter, up 26% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | +5.3 points |
| Q2 2026 | 18% | +11 points |
| Q1 2026 | 2.8% | +3 points |
| Q4 2025 | 9.3% | +3.5 points |
| Q3 2025 | 6.3% | +13 points |
| Q2 2025 | 6.5% | +5.4 points |
| Q1 2025 | -0.2% | -0.5 points |
| Q4 2024 | 5.9% | -4 points |
FIGS's operating margin was 12% last quarter, up 5.3 points from the same quarter a year ago.
FIGS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $51.2M | +9538% |
| Q2 2026 | $44.3M | +$57.8M |
| Q1 2026 | -$5.6M | -171% |
| Q4 2025 | $58.1M | +115% |
| Q3 2025 | $531K | -97% |
| Q2 2025 | -$13.5M | -279% |
| Q1 2025 | $7.9M | -29% |
| Q4 2024 | $27.1M | +98% |
FIGS generated $148M in free cash flow over the past year, about seven times what it generated the year before.
FIGS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1% | -1.9M shares |
| 1 year | +6.9% | +12.4M shares |
| 3 years | +6.5% | +11.8M shares |
| 5 years | +23% | +36.4M shares |
| Available history | +21% | +33.1M shares |
FIGS has 193M diluted shares, up 6.9% from a year ago, despite $47M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $13.8M |
| Q2 2026 | $24M |
| Q1 2026 | $8.8M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $2.7M |
| Q4 2024 | $38.2M |
FIGS spent $47M buying back its own shares over the past year, up 14% from the year before.
FIGS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.8x | Net Cash |
| Q2 2026 | -1.4x | Net Cash |
| Q1 2026 | -1.4x | Net Cash |
| Q4 2025 | -1.7x | Net Cash |
| Q3 2025 | -1.3x | Net Cash |
| Q2 2025 | -2.7x | Net Cash |
| Q1 2025 | -9.5x | Net Cash |
| Q4 2024 | -9.6x | Net Cash |
FIGS has more cash than debt.
FIGS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 73.3 | Overbought |
| Stochastic | 87.1 | Overbought |
FIGS's weekly RSI is 73 (overbought) and its Stochastic is 87 (overbought).
FIGS PE vs Consumer Cyclical Sector
| Metric | FIGS | Sector median | Relative |
|---|---|---|---|
| PE | 60x | 18x | 231% above |
| PE % | 32 | 54 | 22 pts below |
FIGS is trading at 60x earnings, a 231% premium to the Consumer Cyclical sector's median of 18x.
FIGS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.2 | 24% above |
| 20 week MA | $14.8 | 53% above |
| 50 week MA | $13.6 | 67% above |
| 100 week MA | $9.82 | 131% above |
| 200 week MA | $8.09 | 180% above |
FIGS is in an uptrend: it's above all five of its weekly moving averages, and 180% above its 200-week average.
FIGS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $34.2 | $26.4 | -23% |
| 2022 | $26.4 | $6.72 | -75% |
| 2023 | $6.72 | $6.95 | +3.4% |
| 2024 | $6.95 | $6.01 | -14% |
| 2025 | $6.01 | $11.8 | +97% |
| 2026 YTD | $11.8 | $22.7 | +92% |
FIGS is up 92% so far in 2026, after finishing lower in three of the previous five years.