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FIGS, Inc.

FIGSConsumer CyclicalNASDAQ

Apparel Manufacturing

PriceMA150MA200
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Financials · Annual
Revenue
$631.1M
+13.6% YoY
Net Income
$34.3M
+1159.2% YoY
EBITDA
$47.2M
+426.6% YoY
Free Cash Flow
$28.9M

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About FIGS, Inc.

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. The $1.96B market capitalization puts FIGS squarely in small-cap range for its industry. The company designs and sells scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.

Key stats
Market Cap$1.96B
P/E (TTM)53.45
Fwd P/E36.61
EPS$0.22
Beta1.12
52W Change+170.3%
ROE10.0%
Analysis

The balance sheet looks solid with $277.0M in cash comfortably exceeding the $60.6M debt load. A net cash position generally provides financial flexibility during uncertain economic periods. The company generates $28.9M in free cash flow annually, which funds everything from R&D to shareholder returns without needing external financing. ROE of 10.0% points to decent capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 4.9% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $505.8M (2022) to $631.1M (2025), reflecting a 25% increase over the period.

The strong cash position relative to debt provides a financial cushion that reduces balance sheet risk. At over 50x earnings, FIGS carries valuation risk — any slowdown in growth expectations could lead to meaningful price adjustments. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for FIGS, Inc. and its sector.

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