📊 FIGS Key Takeaways
Is FIGS a Good Investment? Thesis Analysis
FIGS demonstrates strong operational fundamentals with robust revenue growth of 13.6% YoY, exceptional gross margins of 66.5%, and healthy free cash flow generation of $53.0M. The company maintains an exceptionally strong balance sheet with minimal leverage, high liquidity ratios, and consistent cash conversion, positioning it well for sustainable growth.
Why Buy FIGS? Key Strengths
- Exceptional gross margin of 66.5% indicates strong pricing power and operational efficiency
- Solid revenue growth of 13.6% YoY with improving net income performance
- Outstanding balance sheet health with zero long-term debt and current ratio of 4.94x
- Excellent cash generation with $53.0M free cash flow and 8.4% FCF margin
- Strong liquidity position with $82.0M in cash equivalents
FIGS Investment Risks to Consider
- Operating margin of 6.0% is relatively thin, indicating limited pricing power at operational level despite high gross margins
- Low return on equity of 7.8% and ROA of 5.9% suggest suboptimal capital efficiency
- Net margin of only 5.4% leaves limited buffer for economic downturns or cost pressures
- Competitive apparel sector may face margin compression from supply chain inflation or increased competition
- Recent insider activity with 7 Form 4 filings warrants monitoring for potential directional signals
Key Metrics to Watch
- Operating margin expansion and overhead cost management
- Revenue growth sustainability and same-store sales trends
- Return on equity improvement and capital allocation efficiency
- Free cash flow conversion rate and working capital management
- Gross margin maintenance amid potential input cost pressures
FIGS Financial Metrics
💡 AI Analyst Insight
Strong liquidity with a 4.94x current ratio provides a solid financial cushion.
FIGS Profitability Ratios
FIGS vs Default Sector
How FIGS, Inc. compares to Default sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is FIGS Overvalued or Undervalued?
Based on fundamental analysis, FIGS, Inc. has mixed fundamental signals relative to the Default sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
FIGS Balance Sheet & Liquidity
FIGS 5-Year Financial Trend & Growth Analysis
5-Year Trend Summary: FIGS, Inc.'s revenue has grown significantly by 50% over the 5-year period, indicating strong business expansion. The most recent EPS of $0.12 reflects profitable operations.
FIGS Growth Metrics (YoY)
FIGS Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $140.2M | -$102.0K | $0.00 |
| Q2 2025 | $144.2M | -$102.0K | $0.01 |
| Q1 2025 | $119.3M | -$102.0K | $0.00 |
| Q3 2024 | $140.2M | $835.0K | $0.00 |
| Q2 2024 | $138.1M | $1.1M | $0.01 |
| Q1 2024 | $119.3M | $1.4M | $0.01 |
| Q3 2023 | $128.6M | $1.9M | $0.02 |
| Q2 2023 | $122.2M | $1.9M | $0.02 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
FIGS Capital Allocation
FIGS SEC 10-K & 10-Q Filing Analysis
Access official SEC EDGAR filings for FIGS, Inc. (CIK: 0001846576)
📋 Recent SEC Filings
❓ Frequently Asked Questions about FIGS
What is the AI rating for FIGS?
FIGS, Inc. (FIGS) has an AI rating of BUY with 75% confidence, based on fundamental analysis of SEC EDGAR filings.
What are FIGS's key strengths?
Claude: Exceptional gross margin of 66.5% indicates strong pricing power and operational efficiency. Solid revenue growth of 13.6% YoY with improving net income performance.
What are the risks of investing in FIGS?
Claude: Operating margin of 6.0% is relatively thin, indicating limited pricing power at operational level despite high gross margins. Low return on equity of 7.8% and ROA of 5.9% suggest suboptimal capital efficiency.
What is FIGS's revenue and growth?
FIGS, Inc. reported revenue of $631.1M.
Does FIGS pay dividends?
FIGS, Inc. does not currently pay dividends.
Where can I find FIGS SEC filings?
Official SEC filings for FIGS, Inc. (CIK: 0001846576) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is FIGS's EPS?
FIGS, Inc. has a diluted EPS of $0.19.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is FIGS a good stock to buy right now?
Based on our AI fundamental analysis in March 2026, FIGS, Inc. has a BUY rating with 75% confidence. The AI analysis suggests favorable fundamentals based on SEC filings. This is not investment advice.
Is FIGS stock overvalued or undervalued?
Valuation metrics for FIGS: ROE of 7.8% (sector avg: 15%), net margin of 5.4% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
Should I buy FIGS stock in 2026?
Our dual AI analysis gives FIGS, Inc. a combined BUY rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is FIGS's free cash flow?
FIGS, Inc.'s operating cash flow is $61.2M, with capital expenditures of $8.2M. FCF margin is 8.4%.
How does FIGS compare to other Default stocks?
Vs Default sector averages: Net margin 5.4% (avg: 12%), ROE 7.8% (avg: 15%), current ratio 4.94 (avg: 1.8).