FIGS (FIGS) AI Stock Analysis

• Market Cap: $1.53B
• Dividend Yield: N/A
• Average Volume (3M): 2.22M
• Price to Earnings (P/E): 91.7
• Beta (1Y): 0.78
• 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: 3,584,740
• 30 Day Avg. Volume: 2,222,686
• 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: 0.67
• Enterprise Value/Revenue: 1.76
• Enterprise Value/Gross Profit: 2.59
• Enterprise Value/Ebitda: 24.94
• 1Y Price Target: $9.14
• Price Target Upside: -1.93% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 10
• EPS Forecast (FY): 0.11
• Revenue Forecast (FY): $594.10M

• Rating: 68 Neutral
• Price Target: $10.50 ▲(12.66% Upside)

FIGS' overall stock score is driven by strong technical momentum and positive earnings call sentiment, indicating robust operational performance and growth prospects. However, high valuation and cash flow challenges present risks that temper the overall score.

Positive Factors

Revenue Growth

The 8% YoY revenue growth, the highest in two years, underscores FIGS' strong market position and effective product strategies, supporting long-term business expansion.

International Expansion

FIGS' international expansion into nearly 60 markets highlights its strategic growth potential and ability to capture new customer bases, enhancing global brand presence.

Gross Margin Improvement

The significant improvement in gross margin reflects operational efficiency and effective cost management, contributing to sustainable profitability.

Negative Factors

Tariff Headwinds

Rising tariff pressures pose a risk to cost structures and margins, requiring ongoing mitigation efforts to maintain profitability.

Inventory Buildup

The significant inventory buildup could lead to excess stock, impacting cash flow and necessitating careful inventory management.

Non-Scrubwear Growth Challenges

Modest growth in non-scrubwear lines suggests limited diversification, potentially affecting long-term revenue streams if not addressed.

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: 9.32
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 9.32 is above the 20-day moving average (MA) of 8.50, above the 50-day MA of 7.74, and above the 200-day MA of 5.94, indicating a bullish trend. The MACD of 0.48 indicates Negative momentum. The RSI at 60.24 is Neutral, neither overbought nor oversold. The STOCH value of 53.44 is Neutral, 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
GIII	71 Outperform	$1.14B	6.68	11.32%	―	1.19%	1.62%
FIGS	68 Neutral	$1.53B	91.74	4.32%	―	5.90%	68.44%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
SGC	61 Neutral	$137.49M	24.06	2.86%	6.60%	-0.44%	-55.22%
HBI	52 Neutral	$2.29B	5.78	140.06%	―	-19.47%	―
UAA	47 Neutral	$1.76B	―	-4.56%	―	-6.35%	-565.47%
UA	46 Neutral	$1.88B	18.65	-4.56%	―	-6.35%	-565.47%

FIGS Corporate Events

FIGS, Inc. Reports Strong Earnings and Growth

The latest earnings call from FIGS, Inc. paints a picture of robust financial health and strategic growth. The company reported significant revenue and margin improvements, driven by strategic product launches and international expansion. Despite facing challenges such as tariff headwinds and inventory buildup, FIGS demonstrated successful mitigation strategies, indicating a positive outlook for the future.

FIGS, Inc. Reports Strong Q3 2025 Financial Results

FIGS, Inc. is a direct-to-consumer healthcare apparel and lifestyle brand that designs and sells technically advanced apparel for healthcare professionals, offering a unique combination of comfort, durability, function, and style. The company is recognized for its innovative approach and strong community engagement within the healthcare sector.

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.

The most recent analyst rating on (FIGS) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on FIGS stock, see the FIGS Stock Forecast page.

FIGS, Inc. Reports Record Revenue and Growth

The recent earnings call for FIGS, Inc. conveyed a largely positive sentiment, underscoring the company’s record revenue achievements and robust growth in its core business segments. The call highlighted effective cost management strategies, though it also acknowledged challenges in non-scrubwear revenue, promotional impacts, and tariff-related cost pressures.