Figma, Inc. (FIG) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Figma, Inc. stock $14.70, price $18.44, that is 20.3% below the price, quality 60 out of 100. Rating: overvalued. Calculated from audited financials with 7 of our 26 valuation models and 37 quality factors, updated daily.
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Figma, Inc.
FIG · USOur calculation puts a fair price 20% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
15‑month range $16.84 – $122.00 · fair‑value band $7.92 – $21.11 · the $18.44 price screens above the $14.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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Company profile
Figma, Inc. develops and sells a collaborative, browser-based platform for designing, prototyping, building digital experiences, and subscriptions for access to its platform.
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The company offers Figma Design, a collaborative design tool for teams that explore ideas and gather feedback, build realistic prototypes, and streamline product development with design systems; Dev Mode to inspect designs and translate them into code without changing the design file; FigJam to define ideas, align decisions, and move work forward"all in one place; and Figma Slides, a presentation tool built for designers and their teams.
It also provides Figma Draw to create expressive designs with illustration tools; Figma Buzz, which publishes brand templates to create social media assets, display ads, one-pagers, and others; Figma Sites to design, prototype, and publish; Payload CMS is an open-source, headless content management system and application framework acquired by Figma; Figma Make, an AI tool to design and prompt way to a functional prototype; Figma Weave for AI-powered media generation and editing.
The company was incorporated in 2012 and is headquartered in San Francisco, California.
Stock analysis
Figma, Inc. (FIG) currently trades at $18.44, while our model-based Fair Value estimate is $14.70, 20% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $14.70 per share, and 0 of the 7 models we run sit above the $18.44 price.
Bear case: the Asset-Based group reads lowest at $2.56, and 7 of the 7 models stay below the price. Data coverage for this calculation is low.
Scenario range: $7.92 (bear) to $21.11 (bull), the price of $18.44 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Figma, Inc. reported revenue of $1.1B in FY2025 versus $505M in FY2023, a compound +44.6%/yr. Reported net income was −$1.3B in FY2025.
Key figures
Market cap $12.1B Large · P/S ratio 9.45 · EPS (TTM) $−3.23 · Net margin −123% · Return on equity −109% · Return on assets (EBIT) −36.2% · Operating margin −31.7% · Revenue (TTM) $1.3B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 14 out of 100 (low confidence).
What moves the price
The share trades about 60% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 17% fair-value upside, at −20%, FIG screens richer than that median.
Fair Value models
All 7 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Insider trades
In the last 6 months, 8 officers or directors sold shares worth $53.1M and none bought.
- SaleTyler HerbChief Accounting Officer18× since Nov 10, 2025: 75,291 shares, avg. $38.00$2.9MNov 4, 2026
- SaleBrendan MulliganGeneral Counsel and Secretary18× since Nov 10, 2025: 549,203 shares, avg. $30.77$16.9MNov 3, 2026
- SaleLynn Vojvodich RadakovichDirector2× since Dec 15, 2025: 35,390 shares, avg. $27.76$982,508Oct 15, 202610b5-1 plan
- SaleIndex Ventures VI Parallel Entrepreneur Fund (Jersey) LP10% owner12,475 shares at $25.39$316,740Aug 10, 2026
- SaleDaniel H. RimerDirector2× since May 18, 2026: 24,950 shares, avg. $24.88$620,631Aug 10, 2026
- SaleShaunt VoskanianChief Revenue Officer10× since Nov 10, 2025: 590,663 shares, avg. $37.92$22.4MAug 5, 2026
- SalePraveer MelwaniCFO and Treasurer9× since Nov 10, 2025: 641,013 shares, avg. $26.82$17.2MAug 4, 2026
- SaleKris RasmussenFormer Chief Technology Off.11× since Nov 10, 2025: 1,990,876 shares, avg. $30.82$61.4MAug 4, 2026
- SaleDylan FieldPresident & CEO, Director, 10% owner6× since Nov 17, 2025: 4,627,923 shares, avg. $35.49$164.2MMay 29, 202610b5-1 plan
- SaleIndex Ventures VI (Jersey) LP10% owner12,475 shares at $24.36$303,891May 18, 2026
Plus 1 more entries from the last 12 months.
Plus 45 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Source: SEC Form 4, as of Nov 5, 2026. All filings at the SEC ↗
Revenue & earnings trend
Growth Forecast
FIG screens overvalued: fair value 20% below the price. Compare with SAP SE →
Compare Figma, Inc. with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Application · 633 stocks
Valuation Multiplesvs Software - Application median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Information Technology sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Fair value gap by industry
- Return on assets by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Adobe Inc ADBE | $246.44 | $463.72 | +88% | vs FIG |
| Salesforce, Inc CRM | $222.41 | $342.73 | +54% | vs FIG |
| Uber Technologies, Inc UBER | $68.78 | $101.25 | +47% | vs FIG |
| Intuit Inc INTU | $354.84 | $459.14 | +29% | vs FIG |
| ServiceNow, Inc NOW | $102.36 | $119.69 | +17% | vs FIG |
| SAP SE SAP | €215.75 | €173.59 | −20% | vs FIG |
| Cadence Design Systems, Inc CDNS | $311.43 | $225.48 | −28% | vs FIG |
| Automatic Data Processing, Inc ADP | $307.14 | $150.40 | −51% | vs FIG |
| Shopify Inc SHOP | $143.75 | $68.68 | −52% | vs FIG |
| Snowflake Inc SNOW | $269.54 | $73.81 | −73% | vs FIG |
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Frequently asked questions
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Key figures of Figma, Inc.
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