FIGS, Inc.

FIGS Consumer Cyclical Apparel Manufacturing

FIGS, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $631.1 million, up 13.6% from fiscal 2024. In the quarter to June 2026, revenue grew 28.8%, EPS grew 325.0% and free cash flow grew 427.4%, each against the same quarter a year earlier. Revenue growth for five consecutive years.

19.15 0.39 −2.00%
Market cap
$3.3B
P/E
51.8×
Fwd P/E
45.7×
Dividend yield
—
F-score
8/9
Altman Z
10.10
Beneish M
−2.97
Dividend safety
n/a

Insider Decisions trades per month

Total sells 12.74
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 2 — 2 2 1 2 2 — — — — —
Insider Ownership 9.48%

Capital & Financial Ratios $m

Market Cap 3,250.00
Revenue 710.08
Net Income 61.92
Free Cash Flow 97.22
Net Debt (296.29)
Current Ratio 4.96 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 51.76 (above 35: high)
Fwd P/E 45.70 (above 35: high)
P/S ratio 4.49
P/B ratio 7.21 (above 6: high)
Past 5Y EPS Growth (9.01%) (below 0%: weak)
This Y EPS Growth 92.98% (at or above 15%: strong)
Next Y EPS Growth 2.12%
Next Y revenue growth 20.58% (at or above 10%: strong)
Next 5Y EPS Growth 28.52% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 30.70%
10-year low 10-year high
P/S against its own 10 years 81.61%
10-year low 10-year high
P/B against its own 10 years 81.39%
10-year low 10-year high
EV/Sales against its own 10 years 81.46%
10-year low 10-year high
EV/FCF against its own 10 years 52.78%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 247 245 301 296
Receivables 7 9 6 23
Inventory 119 116 128 120
Other — — — —
386 383 447 453
2023 2024 2025 Q'26
Payables 15 9 18 9
ST’ Debt — — — —
Other 3 4 4 4
57 90 91 91

Compound Annual Growth %

10y 5y 3y
Sales — 19.12% 7.65%
Cash Flow — 22.98% 0.00%
Earnings — (7.20%) 17.36%
Book Value — 34.97% 12.44%

Revenue $m

Mar Jun Sep Dec Year
’26 160 197 — — —
’25 125 153 152 202 631
’24 119 144 140 152 556
’23 120 138 142 145 546
’22 110 122 129 145 506
’21 87 101 103 129 420
’20 32 64 77 90 263
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (3) 47 — — —
’25 9 (12) 3 61 61
’24 12 17 23 30 81
’23 (3) 29 54 20 101
’22 (8) (19) (13) 5 (35)
’21 16 17 20 14 66
’20 (1) 25 (1) (1) 22
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) 44 — — —
’25 8 (14) 1 58 53
’24 11 8 18 27 64
’23 (4) 29 46 14 85
’22 (8) (20) (16) 3 (41)
’21 16 16 19 13 64
’20 (2) 25 (2) (2) 19
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.03 0.15 — — —
’25 0.00 0.04 0.05 0.10 0.19
’24 0.01 0.01 (0.01) 0.01 0.02
’23 0.01 0.02 0.03 0.05 0.12
’22 0.05 0.03 0.02 0.02 0.11
’21 0.07 (0.26) 0.03 0.06 (0.06)
’20 0.03 0.09 0.12 0.07 0.30
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — — 22.04 5.55 5.16 4.30 3.57

Analyst estimates 2026–2028

Powerpack
High — — — — — 50.40 27.82 10.20 7.06 12.35
People
People Employees — — — — 202 264 313 354 316 388
Revenue/emp, $m — — — 0.00 1.30 1.59 1.62 1.54 1.76 1.63
Income, $m
Income, $m Revenue — — — 110 263 420 506 546 556 631
Gross margin, % — — — 71.80 72.30 71.79 70.07 69.09 67.61 66.53
EBT — — — 0 58 10 39 41 14 47
EBT margin, % — — — 0.10 22.07 2.35 7.66 7.48 2.58 7.48
Net income — 0 — 0 50 (10) 21 23 3 34
Depreciation — — — 1 1 1 2 1 0 5
Per share, $
Per share, $ Revenue — — — 0.72 1.72 2.64 3.06 3.25 3.28 3.86
Earnings — — — 0.00 0.32 (0.06) 0.13 0.13 0.02 0.21
Cash flow — — — 0.04 0.14 0.42 (0.21) 0.60 0.48 0.37
Capex — — — (0.03) (0.01) (0.02) (0.03) (0.10) (0.10) (0.05)
Free cash flow — — — 0.01 0.13 0.40 (0.25) 0.50 0.38 0.32
Book value — — — 0.25 0.64 1.54 1.86 2.24 2.23 2.68
Shares, m — — — 153 153 159 165 168 169 163
Valuation, ×
Valuation, × P/E — — — 80.81 80.81 0.00 60.42 47.79 375.15 56.97
P/S — — — 14.58 14.58 10.46 2.37 2.06 1.89 2.94
P/B — — — 40.59 40.59 17.86 3.89 2.98 2.78 4.24
EV/Sales — — — 14.34 14.34 9.98 2.05 1.61 1.44 2.47
EV/FCF — — — 123.83 123.83 65.74 (25.53) 10.38 12.51 29.36
Cash, $m
Cash, $m Operating cash flow — — — 7 22 66 (35) 101 81 61
Capex — — — (5) (2) (3) (5) (16) (17) (8)
Free cash flow — — — 2 19 64 (41) 85 64 53
Balance, $m
Balance, $m Working capital — — — 36 88 231 285 328 293 357
Total debt — — — — — — 19 — — —
Net debt — — — (38) (58) (197) (160) (247) (245) (301)
Shareholders’ equity — — — 39 98 246 308 377 377 437
Returns, %
Returns, % ROA — — — 0.36 50.66 (4.29) 5.99 5.21 0.55 6.29
ROIC — — — (47.04) 91.58 14.26 15.91 16.35 1.07 17.45
ROE — — — 0.16 72.91 (5.57) 7.66 6.61 0.72 8.41
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

FIGS, Inc. vs peers in Apparel Manufacturing (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LEVI Levi Strauss & Co. $7.9B 13.5× 14.7× +4.30% (above 0%: growing) −20.60% (below 0%: shrinking) +212.72% (above 0%: growing) 66.21% 13.81% Compare
VFC V.F. Corporation $6.7B 23.7× 15.8× −5.18% (below 0%: shrinking) n/m +50.99% (above 0%: growing) 54.93% (4.98%) Compare
ZGN Ermenegildo Zegna N.V. $5.7B — (loss-making) 32.9× — n/m +56.38% (above 0%: growing) 55.40% 0.00% Compare
KTB Kontoor Brands, Inc. $4.0B 15.1× 13.2× +18.61% (above 0%: growing) −11.28% (below 0%: shrinking) +104.36% (above 0%: growing) 56.18% 15.49% Compare
PVH PVH Corp. $3.9B — (loss-making) 6.4× −3.24% (below 0%: shrinking) n/m +111.16% (above 0%: growing) 63.03% (9.10%) Compare
FIGS FIGS, Inc. $3.3B 51.8× 45.7× +28.81% (above 0%: growing) +325.00% (above 0%: growing) +427.35% (above 0%: growing) 75.20% 17.93%
COLM Columbia Sportswear Company $3.1B 15.6× 16.7× +1.51% (above 0%: growing) n/m +324.26% (above 0%: growing) 58.34% 5.03% Compare
UA Under Armour, Inc. $2.1B — (loss-making) — −3.19% (below 0%: shrinking) n/m +600.79% (above 0%: growing) 54.09% 4.26% Compare
UAA Under Armour, Inc. $2.1B — (loss-making) 59.6× −3.19% (below 0%: shrinking) n/m +600.79% (above 0%: growing) 54.09% 4.26% Compare
Median of peers $4.0B 15.4× 15.8× −3.19% — +161.94% 55.79% 4.26%

All 23 Apparel Manufacturing stocks →

FIGS, Inc. (FIGS) key facts

  • Strength: FIGS, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $631.1 million, up 13.6% from fiscal 2024.
  • FIGS, Inc. (FIGS) is an Apparel Manufacturing company in the Consumer Cyclical sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, FIGS traded at $19.15, a market capitalization of $3.3 billion.
  • Return on equity was 8.41% and debt-to-equity 0.00.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 10.10 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/FIGS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com