FIGS (FIGS) AI Stock Analysis

• Market Cap: $1.91B
• Dividend Yield: N/A
• Average Volume (3M): 2.84M
• Price to Earnings (P/E): 118.5
• Beta (1Y): 0.72
• Revenue Growth: 5.90%
• EPS Growth: 68.44%
• Country: US
• Employees: 303
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Manufacturers
• EPS (TTM): 0.05
• Shares Outstanding: 156,215,060
• 10 Day Avg. Volume: 2,931,511
• 30 Day Avg. Volume: 2,843,179
• PEG Ratio: -4.39
• Price to Book (P/B): 2.78
• Price to Sales (P/S): 1.89
• P/FCF Ratio: 16.33
• Enterprise Value/Market Cap: 0.54
• Enterprise Value/Revenue: 1.76
• Enterprise Value/Gross Profit: 2.59
• Enterprise Value/Ebitda: 24.94
• 1Y Price Target: $9.57
• Price Target Upside: -18.07% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 10
• EPS Forecast (FY): 0.11
• Revenue Forecast (FY): $594.10M

• Rating: 74 Outperform
• Price Target: $13.00 ▲(11.30% Upside)

FIGS' overall stock score is driven by strong technical indicators and positive earnings call outcomes, indicating robust growth and operational efficiency. However, high valuation and cash flow challenges pose risks.

Positive Factors

Revenue Growth

The strong revenue growth indicates successful product strategies and market expansion, reinforcing FIGS' position in the healthcare apparel market.

International Expansion

Expanding international presence opens new revenue streams and diversifies market risk, supporting long-term growth potential.

Gross Margin Improvement

Improved gross margins reflect efficient cost management and pricing strategies, enhancing profitability and financial stability.

Negative Factors

Tariff Headwinds

Rising tariffs could increase costs and pressure margins, requiring ongoing mitigation strategies to maintain profitability.

Inventory Buildup

High inventory levels may lead to excess stock and increased holding costs, impacting cash flow and operational efficiency.

Cash Flow Challenges

Declining cash flow growth can limit the company's ability to invest in growth opportunities and meet financial obligations.

FIGS Business Overview & Revenue Model

Company Description

FIGS, Inc. operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States. It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, and masks. It also offers sports bras, performance leggings, tops, super-soft pima cotton tops, vests, and jackets. The company markets and sells its products through its digital platform comprising website and mobile app. FIGS, Inc. was founded in 2013 and is headquartered in Santa Monica, California.

How the Company Makes Money

FIGS generates revenue primarily through the sale of its scrubs and related healthcare apparel directly to consumers via its online platform. The company's revenue model is based on a direct-to-consumer approach, allowing it to maintain higher profit margins by eliminating intermediaries. Key revenue streams include individual sales of scrubs, bulk purchases by healthcare institutions, and subscription services for regular customers. FIGS also benefits from partnerships with healthcare organizations and influencers in the medical field, which help to enhance brand visibility and drive sales. Seasonal promotions and limited-edition product releases further contribute to its earnings by creating urgency and encouraging repeat purchases.

FIGS Financial Statement Overview

Summary

FIGS shows strong revenue growth and profitability in core operations, supported by a robust balance sheet with low leverage. However, challenges in cash flow management and a low net profit margin indicate areas for improvement.

Income Statement

FIGS has shown consistent revenue growth, albeit at a slowing pace, with a TTM growth rate of 2.01%. The gross profit margin remains strong at 67.98%, indicating efficient production and pricing strategies. However, the net profit margin is relatively low at 3.03%, suggesting room for improvement in cost management or pricing strategies. The EBIT and EBITDA margins have improved over the past year, reflecting better operational efficiency.

Balance Sheet

The company's balance sheet is solid with a low debt-to-equity ratio of 0.13, indicating conservative leverage. The return on equity (ROE) has improved to 4.50%, showing better utilization of equity capital. The equity ratio is healthy, reflecting a strong equity base relative to total assets, which provides stability and reduces financial risk.

Cash Flow

FIGS faces challenges in cash flow management, with a significant decline in free cash flow growth at -44.86% TTM. The operating cash flow to net income ratio is 0.35, indicating that cash generation from operations is not fully covering net income, which could impact liquidity. However, the free cash flow to net income ratio of 0.72 suggests some ability to generate cash relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	581.03M	555.56M	545.65M	505.83M	419.59M	263.11M
Gross Profit	394.97M	375.62M	376.96M	354.46M	301.22M	190.22M
EBITDA	41.00M	8.96M	36.99M	39.59M	11.52M	58.89M
Net Income	17.63M	2.72M	22.64M	21.19M	-9.56M	49.76M
Balance Sheet
Total Assets	544.74M	509.79M	473.21M	395.06M	311.75M	133.85M
Cash, Cash Equivalents and Short-Term Investments	241.53M	245.11M	246.69M	159.78M	195.37M	58.13M
Total Debt	54.12M	53.03M	47.11M	19.16M	0.00	0.00
Total Liabilities	131.41M	132.66M	96.36M	87.33M	66.18M	36.18M
Stockholders Equity	413.33M	377.13M	376.85M	307.74M	245.57M	97.68M
Cash Flow
Free Cash Flow	21.99M	64.14M	84.57M	-40.68M	63.73M	19.49M
Operating Cash Flow	30.66M	81.16M	100.92M	-35.33M	66.44M	21.75M
Investing Cash Flow	-69.18M	-94.92M	-117.19M	-5.85M	-2.71M	-2.26M
Financing Cash Flow	-39.13M	-44.77M	670.00K	3.52M	75.57M	294.00K

FIGS Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 11.68
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FIGS, the sentiment is Positive. The current price of 11.68 is above the 20-day moving average (MA) of 10.28, above the 50-day MA of 8.79, and above the 200-day MA of 6.31, indicating a bullish trend. The MACD of 0.87 indicates Negative momentum. The RSI at 75.50 is Negative, neither overbought nor oversold. The STOCH value of 86.12 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FIGS.

FIGS Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FIGS	74 Outperform	$1.91B	118.53	4.32%	―	5.90%	68.44%
GIII	74 Outperform	$1.33B	9.27	8.61%	―	1.19%	1.62%
SGC	66 Neutral	$158.57M	27.27	2.86%	5.56%	-0.44%	-55.22%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
HBI	49 Neutral	―	―	140.06%	―	-19.47%	―
UA	47 Neutral	$1.88B	18.65	-4.56%	―	-6.35%	-565.47%
UAA	47 Neutral	$1.82B	―	-4.56%	―	-6.35%	-565.47%

FIGS Corporate Events

FIGS Reports Strong Q3 2025 Financial Results

On November 6, 2025, FIGS, Inc. announced its third quarter financial results, showcasing an 8.2% increase in net revenues to $151.7 million, marking the strongest quarterly growth in two years. The company achieved a net income margin of 5.8% and an adjusted EBITDA margin of 12.4%, reflecting improved profitability and operational efficiency. With a significant rise in both U.S. and international revenues, FIGS is increasing its full-year 2025 outlook, projecting a 7.0% growth in net revenues, despite challenges such as tariff headwinds. The company’s strategic focus on product assortment and brand engagement has driven momentum across its core business areas, reinforcing its leadership position in the healthcare apparel market.