Figs Inc (FIGS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Figs Inc stock $5.56, price $19.82, that is 71.9% below the price, quality 62 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range $3.62 – $45.36 · fair‑value band $3.89 – $7.23 · the $19.82 price screens above the $5.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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FIGS, Inc., together with its subsidiary, FIGS Canada, Inc., operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally.
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The company designs and sells scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.
It also offers sports apparel, performance leggings and tops, super-soft pima cotton tops, vests, fleeces, and jackets; and necessities comprising scrub caps, lanyards, badge reels, bags, baseball caps, and beanies.
The company markets and sells its products to healthcare professionals through its direct-to-consumer digital platform comprising website, mobile app, and B2B business, as well as retail stores. FIGS, Inc. was incorporated in 2013 and is headquartered in Santa Monica, California.
Stock analysis
Figs Inc (FIGS) currently trades at $19.82, while our model-based Fair Value estimate is $5.56, 72% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $7.81 per share, and 0 of the 24 models we run sit above the $19.82 price.
Bear case: the Asset-Based group reads lowest at $1.93, and 24 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $3.89 (bear) to $7.23 (bull), the price of $19.82 sits above 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 62/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Figs Inc reported revenue of $631M in FY2025 versus $420M in FY2021, a compound +10.7%/yr. Reported net income was $34.3M in FY2025.
Key figures
Market cap $3.9B Mid · P/E ratio 52.2 · P/S ratio 5.16 · EPS (TTM) $0.3800 · Net margin 9.7% · Return on equity 16.8% · Return on assets (EBIT) 5.5% (5-year average) · Operating margin 11.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 164% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −7% fair-value upside, at −72%, FIGS screens richer than that median.
Fair Value models
Bear$3.89Fair Value $5.56Bull$7.23
Price $19.82 · Downside -71.9%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.3248 per share) are deliberately not added.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.
In the last 6 months, no officer or director bought or sold shares on the open market.
SaleHeather L. HassonExecutive Chairman, Director, 10% owner3× since Feb 5, 2026: 611,586 shares, avg. $16.48$10.1MMay 4, 2026
SaleSarah OughtredChief Financial Officer4× since Jan 7, 2026: 67,674 shares, avg. $12.64$855,666May 4, 202610b5-1 plan
SaleCatherine Eva SpearChief Executive Officer, Director, 10% owner2× since Jan 6, 2026: 112,069 shares, avg. $13.08$1.5MApr 2, 202610b5-1 plan
Plus 17 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.
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.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+13.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.1%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+33.7%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
≈ −0.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.1%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.22% → 6%
⚠ Rate on operating basis: 2025 sits 69% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more 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).
+33.4%
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.
+10.4%
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 +30.3% a year for the price and +7.9% for the forecasts.
AI conclusion: Moderate durable advantage supported by strength in margins, yet thin evidence on innovation, alignment and long-term sustainability limits overall quality.
Main risk: Competitive pressures could force renewed discounting and promotions while scaling internationally, hitting margins and profitability gains.
FIGS lifted its 2026 revenue growth target after strong quarterly results from higher average orders, expanded assortments and a shift toward full-price sales. Record revenue per active customer shows engaged buyers, yet sustaining margins will depend on keeping discounting low while scaling internationally. Will operational discipline deliver lasting profitability gains or will competitive pressures force renewed promotions?
Price, fair value, quality and upside side by side.
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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.Apparel Manufacturing · 213 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside−71.9% · Bottom 25%
Profitability
Return on equity (12 months)16.8% · Top 25%
Return on assets5.9% · Above median
Net margin (12 months)9.7% · Top 25%
Operating margin (12 months)11.7% · Above median
Growth and dividend
Revenue growth (quarter YoY)25.7% · Top 25%
Valuation Multiplesvs Apparel Manufacturing median · lower = cheaper
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.
Cite: Fair Value Calculator (2026). "Figs Inc Fair Value". https://www.fairvalue-calculator.com/stock/FIGS
Frequently asked questions
Is Figs Inc (FIGS) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $5.56 versus a price of $19.82, about 72% lower (overvalued).
What is the fair value of FIGS?
Our model-based fair value for Figs Inc is $5.56 (as of Nov 8, 2026), built from audited fundamentals. The current price: $19.82.
What is the quality score of FIGS?
Figs Inc has a Quality Score of 62/100. 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 Figs Inc (FIGS)?
Our model-based price target is the fair value of $5.56 (as of Nov 8, 2026) from 24 valuation models. Cautious scenario $3.89, optimistic scenario $7.23. It is a calculation from audited fundamentals, not an analyst target.
What is the Figs Inc stock forecast for 2026?
Our models put fair value at $5.56, about 72% lower versus a price of $19.82 (overvalued). Cautious scenario $3.89, optimistic scenario $7.23. The calculation is refreshed regularly with new filings.
What is the revenue of Figs Inc (FIGS)?
Figs Inc reported trailing-twelve-month revenue of about $749M (latest available figure, as of Nov 8, 2026).
What growth is priced into Figs Inc (FIGS)?
For today's price to be fair in a discounted-cash-flow model, Figs Inc would have to grow free cash flow by +33.4 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +19.1 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of FIGS use?
Our models discount Figs Inc at 9.9 %: a base by market capitalisation (mid), damped by beta 1.06, 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 Figs Inc that is +33.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has Figs Inc (FIGS) delivered so far?
Over the past 5 years revenue at Figs Inc grew +19.1 % a year. The price currently implies free-cash-flow growth of +33.4 % per 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 Figs Inc (FIGS) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Figs Inc (+33.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Figs Inc (FIGS)?
The free-cash-flow yield on the price is 1.37 %: that much free cash flow Figs Inc produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Figs Inc (FIGS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Figs Inc it is $5.56 per share (as of Nov 8, 2026), against a price of $19.82. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Figs Inc stock overvalued or undervalued in 2026?
As of Nov 8, 2026, FIGS trades above its calculated fair value: price $19.82, fair value $5.56, a gap of about −72% (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 FIGS?
No. The price is what the market pays today ($19.82); the fair value is what the company's own numbers justify ($5.56). For Figs Inc the two are $14.26 per share apart. That gap is exactly why we show both numbers side by side.
How much is Figs Inc worth?
The market values Figs Inc at about $3.9B (market capitalisation, as of Nov 8, 2026). Per share that is $19.82; our models calculate a fair value of $5.56 per share.
What do the bullish and bearish scenarios say about FIGS?
Our models span a range for Figs Inc: cautious scenario $3.89, base $5.56, optimistic $7.23 per share (as of Nov 8, 2026, price $19.82). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FIGS?
Figs Inc trades at a price-to-earnings ratio of 52.2 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $5.56 is built from several models across several years. Other multiples: P/B 8.8, P/S 5.2, EV/EBITDA 41.4.
How solid is the balance sheet of Figs Inc (FIGS)?
Balance-sheet figures for Figs Inc (as of Nov 8, 2026): return on equity 16.8%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is FIGS from its 52-week high?
Figs Inc trades at $19.82, about 10% below its 52-week high of $21.94 and 164% above the low of $7.52 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $5.56 is for.
Which stocks are comparable to Figs Inc?
From the same area (Consumer Cyclical) we also value Ralph Lauren Corporation, Moncler S.p.A, LPP SA, Levi Strauss & Co, 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 Figs Inc stock attractive at the current price?
The data as of Nov 8, 2026: price $19.82, calculated fair value $5.56 (−72%), Quality Score 62/100, from 24 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 FIGS calculated?
We run Figs Inc through 24 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $5.56 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Figs 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 Figs Inc (FIGS)?
The closing price on Nov 6, 2026 was $19.82. Our model-based fair value is $5.56, about 72% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Figs Inc right now?
The price sits above even our optimistic bull case ($7.23). The favourable scenario is already priced in. Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($3.89 to $7.23) leaves room in how you read the outcome.
Key figures of Figs Inc
How large is the market capitalisation of Figs Inc (FIGS)?
The market capitalisation of Figs Inc is $3.9B. 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 Figs Inc (FIGS)?
The price-to-sales ratio of Figs Inc is 5.16 (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 Figs Inc (FIGS)?
Earnings per share at Figs Inc are $0.3800 (price ÷ EPS = P/E 52.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Figs Inc (FIGS)?
The net margin of Figs Inc is 9.7% (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 Figs Inc (FIGS)?
The return on equity (ROE) of Figs Inc is 16.8% (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 Figs Inc (FIGS)?
On an EBIT basis the return on assets of Figs Inc is 5.5% (avg 5y). 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 Figs Inc (FIGS)?
The operating margin of Figs Inc is 11.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Figs Inc (FIGS)?
Revenue at Figs Inc is growing +25.7% versus a year earlier (3y avg +7.7%). 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 Figs Inc (FIGS)?
Earnings per share at Figs Inc are growing +100% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Figs Inc (FIGS) hold?
Figs Inc holds more cash than debt, $22.0M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 8, 2026