EN DE
Watch Figma, Inc. for free: we tell you when fair value or trend changes.
Data-driven stock valuation

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.

  1. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Technology US

FI Figma, Inc. logo Thin data Nov 1, 2026

Figma, Inc.

FIG · US
Expensive, in a downtrend

Our calculation puts a fair price 20% below what the stock costs today.

Quality 60/100
Generates free cash flow
Revenue last quarter +48% vs. a year ago.
Mixed Growth (revenue YoY +41.0 %/yr in USD)
Insiders sold $53.1M (6M)
Fair value $14.70 · Overvalued (−20.3%)
Loss-making · -123.2% net margin (TTM)
Trails peers (2/11)
Narrow moat 14/100 · thin data
Thin data

Risks from the AI analysis

🚩Generative AI from providers could commoditize design🚩Open-source rivals like Penpot could undercut pricing

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$122.00 $16.84 Fair Value $14.70 Jul 2025 Nov 2026

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.

Follow Figma in your weekly email

Every Wednesday you see whether Figma is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

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.

Show moreShow less

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.

Show more

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

Bear $7.92 Fair Value $14.70 Bull $21.11
Price $18.44 · Downside -20.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF $9.76 $14.70 $30.28 65
Growth DCF $9.22 $17.10 $29.91 64
5Y Revenue Exit $7.31 $11.78 $21.11 59
All 7 models by family
DCF Models
FCF DCF $9.76 $14.70 $30.28 65
5Y Revenue Exit $7.31 $11.78 $21.11 59
10Y Revenue Exit $7.92 $15.79 $20.63 57
Multiples
EV/Revenue $5.56 $7.67 $9.78 51
Asset-Based
NCAV (Graham) $1.69 $2.56 $3.21 52
Growth DCF
Growth DCF $9.22 $17.10 $29.91 64
Rev-Margin DCF $7.96 $13.35 $24.63 59

Open the full fair value analysis →

Quality Score breakdown

Overall quality 60/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 19
How much profit the company makes from its sales and capital
Quality Growth 34
Are margins and returns getting better?
Cashflow 92
Do the profits arrive as real cash?
Financial strength 89
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 16
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 3
Distance to the 52-week high, does not count
New shares 52
Buys back shares or issues new ones?

Open the full quality analysis →

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 Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+17.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+23.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +14.7% a year for the price and +20.6% for the forecasts.
Forecast 2026 (sales)+39.3%
Forecast 2027 (sales)+23.9%
Projected 2028 (sales)+21.2%
Projected 2029 (sales)+18.4%
Projected 2030 (sales)+15.7%

FIG screens overvalued: fair value 20% below the price. Compare with SAP SE →

Note from the team Oct 11, 2026
AI conclusion: Figma's AI agent delivers stronger context awareness and design library rules that support consistent delegation of routine tasks, yet large net losses point to weak pricing power as the core limitation.
Main risk: Tools such as Anthropic's Claude Design or Google's Stitch could generate interfaces from prompts and thereby reduce the need for Figma's collaborative design platform among teams.
Bull case: Figma could deepen integration of its own agent with design systems and position the platform as the enduring system of record for organizational design standards even as generation becomes cheaper elsewhere.
Bear case: If model providers' tools handle most ideation and refinement at low marginal cost, teams might shift routine work away from dedicated design files and Figma could see sharply lower usage and revenue per customer.
Figma just made its AI agent generally available, with stronger context awareness and rules for respecting design libraries on the canvas. Teams can now delegate more routine work while keeping systems consistent, but usage now draws down paid AI credits on top of subscriptions. Will the speed and scale gains from the agent expand the overall design workload enough to justify the extra spend, or will it mainly compress hours per project?
Join the discussion →

Compare Figma, Inc. with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

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

Beats the industry median on 2/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 60 · Above median
Fair Value upside −20.3% · Below median
Profitability
Return on assets −53.3% · Bottom 25%
Net margin (12 months) −123.2% · Bottom 25%
Operating margin (12 months) −31.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 48.2% · Top 25%

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B 8.01× · Priciest 25%
P/S (12 months) 9.45× · Priciest 25%
Price / free cash flow 49.2× · Priciest 25%
PEG 7.95× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)6 · sector 28
FUTURE (revenue growth)100 · sector 40
PAST (return on equity)0 · sector 20
HEALTH (low debt)0 · sector 98
DIVIDEND (yield)0 · sector 30

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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

Explore undervalued stocks

More undervalued Technology stocks →

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Figma, Inc.: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Figma, Inc. Fair Value". https://www.fairvalue-calculator.com/stock/FIG

Frequently asked questions

Is Figma, Inc. (FIG) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of $14.70 versus a price of $18.44, about 20% lower (overvalued).
What is the fair value of FIG?
Our model-based fair value for Figma, Inc. is $14.70 (as of Nov 1, 2026), built from audited fundamentals. The current price: $18.44.
What is the quality score of FIG?
Figma, Inc. has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Figma, Inc. (FIG)?
Our model-based price target is the fair value of $14.70 (as of Nov 1, 2026) from 7 valuation models. Cautious scenario $7.92, optimistic scenario $21.11. It is a calculation from audited fundamentals, not an analyst target.
What is the Figma, Inc. stock forecast for 2026?
Our models put fair value at $14.70, about 20% lower versus a price of $18.44 (overvalued). Cautious scenario $7.92, optimistic scenario $21.11. The calculation is refreshed regularly with new filings.
What is the revenue of Figma, Inc. (FIG)?
Figma, Inc. reported trailing-twelve-month revenue of about $1.3B (latest available figure, as of Nov 1, 2026).
What growth is priced into Figma, Inc. (FIG)?
For today's price to be fair in a discounted-cash-flow model, Figma, Inc. would have to grow free cash flow by +17.4 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 2 years revenue grew +44.6 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of FIG use?
Our models discount Figma, Inc. at 9.2 %: a base by market capitalisation (large), country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Figma, Inc. that is +17.4 % per year a year over ten years, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has Figma, Inc. (FIG) delivered so far?
Over the past 2 years revenue at Figma, Inc. grew +44.6 % a year. The price currently implies +17.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Figma, Inc. (FIG) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into Figma, Inc. (+17.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Figma, Inc. (FIG)?
The free-cash-flow yield on the price is 2.53 %: that much free cash flow Figma, Inc. produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Figma, Inc. (FIG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Figma, Inc. it is $14.70 per share (as of Nov 1, 2026), against a price of $18.44. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Figma, Inc. stock overvalued or undervalued in 2026?
As of Nov 1, 2026, FIG trades above its calculated fair value: price $18.44, fair value $14.70, a gap of about −20% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FIG?
No. The price is what the market pays today ($18.44); the fair value is what the company's own numbers justify ($14.70). For Figma, Inc. the two are $3.74 per share apart. That gap is exactly why we show both numbers side by side.
How much is Figma, Inc. worth?
The market values Figma, Inc. at about $12.1B (market capitalisation, as of Nov 1, 2026). Per share that is $18.44; our models calculate a fair value of $14.70 per share.
What do the bullish and bearish scenarios say about FIG?
Our models span a range for Figma, Inc.: cautious scenario $7.92, base $14.70, optimistic $21.11 per share (as of Nov 1, 2026, price $18.44). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of FIG?
The PEG ratio of Figma, Inc. is 7.95 (P/E divided by earnings growth, as of Nov 1, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Figma, Inc. (FIG)?
Balance-sheet figures for Figma, Inc. (as of Nov 1, 2026): return on equity −108.6%. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is FIG from its 52-week high?
Figma, Inc. trades at $18.44, about 60% below its 52-week high of $45.98 and 10% above the low of $16.84 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $14.70 is for.
Which stocks are comparable to Figma, Inc.?
From the same area (Technology) we also value SAP SE, Shopify Inc, Salesforce, Inc, ServiceNow, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Figma, Inc. stock attractive at the current price?
The data as of Nov 1, 2026: price $18.44, calculated fair value $14.70 (−20%), Quality Score 60/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FIG calculated?
We run Figma, Inc. through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $14.70, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Figma, Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Figma, Inc. (FIG)?
The closing price on Nov 5, 2026 was $18.44. Our model-based fair value is $14.70, about 20% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Figma, Inc. right now?
The model range is unusually wide ($7.92 to $21.11). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Figma, Inc.

How large is the market capitalisation of Figma, Inc. (FIG)?
The market capitalisation of Figma, Inc. is $12.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Figma, Inc. (FIG)?
The price-to-sales ratio of Figma, Inc. is 9.45 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Figma, Inc. (FIG)?
Earnings per share at Figma, Inc. are $−3.23. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Figma, Inc. (FIG)?
The net margin of Figma, Inc. is −123% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Figma, Inc. (FIG)?
The return on equity (ROE) of Figma, Inc. is −109% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Figma, Inc. (FIG)?
On an EBIT basis the return on assets of Figma, Inc. is −36.2% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Figma, Inc. (FIG)?
The operating margin of Figma, Inc. is −31.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Figma, Inc. (FIG)?
Revenue at Figma, Inc. is growing +48.2% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Figma, Inc. (FIG)?
Earnings per share at Figma, Inc. are growing −51.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Figma, Inc. (FIG) hold?
Figma, Inc. holds more cash than debt, $289M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed

Watch Figma, Inc. in the live analysis

One click puts Figma, Inc. on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.