Figma, Inc (FIG) Fair Value & Analysis
Technology · US · Market cap $12.6B
Figma, Inc
FIG · US
Fair value as of: Jul 16, 2026
From 7 valuation models · updated 22 days ago
Share price +8.0% over the past month.
Below-average quality, and screening another 77% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($7.10). The favourable scenario is already priced in.
- Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (12 months)
White line = price, green steps = our fair value per fiscal year. As of Jul 16, 2026.
How to read this chart
12‑month range $16.84 – $122.00 · fair‑value band $4.07 – $7.10 · the $23.97 price screens above the $5.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Jul 16, 2026.
Analysis
Figma, Inc (FIG) currently trades at $23.97, while our model-based Fair Value estimate is $5.58, implying the stock looks roughly 76.7% overvalued today. We read business quality at 38/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).
Trailing-twelve-month revenue stands at $1.2B. Revenue grew 46.1% year over year. The balance sheet holds a net cash position of $289M. Fundamentals as of Jul 16, 2026
Our scenario range runs from $4.07 (bear case) to $7.10 (bull case); at $23.97, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -77%, FIG screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 7 models by family
Widest divergence: DCF Models ($14.85) versus Asset-Based ($2.27). Highest evidence: Growth DCF (72).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 17
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Figma, Inc. develops and sells a collaborative, browser-based platform for designing, prototyping, building digital experiences, and subscriptions for access to its platform.
Full company description
Figma, Inc. develops and sells a collaborative, browser-based platform for designing, prototyping, building digital experiences, and subscriptions for access to its platform. 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2023 – FY2025 · reported fiscal years
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.
FIG screens 77% overvalued. Compare with SAP SE →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Figma's CTO Sells 261,000 Shares for $6.6 Million. Here's What That Means for Investors.
- Software stocks sink, led by declines from Figma, Datadog
- Figma, Inc. (FIG) Earnings Expected to Grow: Should You Buy?
Peer Group
Software - Application · 709 stocks
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.
Valuation Multiples vs Software - Application median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 54/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAPS | C$12.69 | C$16.26 | +28% |
| Shopify Inc SHOP | C$173.23 | C$20.54 | -88% |
| Uber Technologies, Inc UBER | $72.67 | $51.11 | -30% |
| Salesforce, Inc CRM | $170.77 | $182.10 | +7% |
| ServiceNow, Inc NOW | $107.71 | $33.12 | -69% |
| Cadence Design Systems, Inc CDNS | $384.17 | $80.41 | -79% |
| Snowflake Inc SNOW | $271.87 | $34.04 | -87% |
| Adobe Inc ADBE | $230.61 | $379.48 | +65% |
| Automatic Data Processing, Inc ADP | $241.92 | $177.51 | -27% |
| Intuit Inc INTU | $291.09 | $258.69 | -11% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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