FIGS (FIGS)
Market Price (11/3/2026): $21.49 | Market Cap: $3.6 BilSector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods
FIGS (FIGS)
Market Price (11/3/2026): $21.49Market Cap: $3.6 BilSector: Consumer DiscretionaryIndustry: Apparel, Accessories & Luxury Goods
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 25% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, and Advanced Materials. Themes include Direct-to-Consumer Brands, Show more. | Trading close to highsDist 52W High is -1.2%, Dist 3Y High is -1.2% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% | Expensive valuation multiplesP/SPrice/Sales ratio is 5.0x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 52x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 33x, P/EPrice/Earnings or Price/(Net Income) is 57x Stock price has recently run up significantly12M Rtn12 month market price return is 186% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 95% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.8% Key risksFIGS key risks include [1] gross margin pressure from tariffs and rising operational costs related to its fulfillment center transition, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 25% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, and Advanced Materials. Themes include Direct-to-Consumer Brands, Show more. |
| Trading close to highsDist 52W High is -1.2%, Dist 3Y High is -1.2% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 5.0x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 52x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 33x, P/EPrice/Earnings or Price/(Net Income) is 57x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 186% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 95% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.8% |
| Key risksFIGS key risks include [1] gross margin pressure from tariffs and rising operational costs related to its fulfillment center transition, Show more. |
Qualitative Assessment
AI Analysis | Feedback
FIGS (FIGS) stock has gained about 100% since 7/31/2026 because of the following key factors:
1. Strong Q2 2026 Earnings Outperformance and Raised Full-Year Guidance. FIGS reported robust second-quarter fiscal 2026 results on August 6, 2026, exceeding analyst expectations with earnings per share of $0.15 against a consensus of $0.07. Revenue for the quarter reached $196.6 million, surpassing estimates of $186.1 million, marking a 28.8% year-over-year increase. Following this strong performance, management significantly raised its full-year 2026 revenue growth outlook to approximately 20%, up from the prior guidance of 14%-16%. This positive financial news spurred a substantial stock increase of nearly 27-28% immediately after the announcement.
2. Consistent Growth in Active Customers and Revenue Per Customer Driven by Product Innovation. The company demonstrated strong underlying business momentum with active customers growing 13.2% year-over-year to 3.1 million in fiscal Q2 2026. Additionally, the trailing 12-month revenue per active customer increased by 10.1% to a record $229. This customer engagement was bolstered by product innovation, including enhancements in fit, new wider-leg scrub pants, additional waistband options, and expanded layering choices, which broadened the brand's appeal and encouraged repeat purchases.
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FIGS (FIGS) stock has gained about 100% since 7/31/2026 because of the following key factors:
1. Strong Q2 2026 Earnings Outperformance and Raised Full-Year Guidance. FIGS reported robust second-quarter fiscal 2026 results on August 6, 2026, exceeding analyst expectations with earnings per share of $0.15 against a consensus of $0.07. Revenue for the quarter reached $196.6 million, surpassing estimates of $186.1 million, marking a 28.8% year-over-year increase. Following this strong performance, management significantly raised its full-year 2026 revenue growth outlook to approximately 20%, up from the prior guidance of 14%-16%. This positive financial news spurred a substantial stock increase of nearly 27-28% immediately after the announcement.
2. Consistent Growth in Active Customers and Revenue Per Customer Driven by Product Innovation. The company demonstrated strong underlying business momentum with active customers growing 13.2% year-over-year to 3.1 million in fiscal Q2 2026. Additionally, the trailing 12-month revenue per active customer increased by 10.1% to a record $229. This customer engagement was bolstered by product innovation, including enhancements in fit, new wider-leg scrub pants, additional waistband options, and expanded layering choices, which broadened the brand's appeal and encouraged repeat purchases.
3. Multiple Analyst Upgrades and Upward Revisions to Price Targets. A series of positive analyst reports and price target revisions contributed significantly to the stock's upward trend. In early August 2026, firms like Roth Capital, KeyCorp, and Barclays reaffirmed "buy" or "overweight" ratings and increased their price targets. More recently, in October 2026, BTIG Research raised its price target from $22 to $25 while maintaining a "buy" rating, implying a potential upside of 17.07% from the stock's previous close. Wall Street Zen also upgraded FIGS from a "buy" to a "strong-buy" rating during October 2026. This sustained positive analyst sentiment, with a consensus "Moderate Buy" rating and an average price target ranging from $18.71 to $19.57, signaled confidence in FIGS' future performance.
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Stock Movement Drivers
Fundamental Drivers
The 99.0% change in FIGS stock from 7/31/2026 to 11/2/2026 was primarily driven by a 42.9% change in the company's Net Income Margin (%).| (LTM values as of) | 7312026 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.70 | 21.29 | 99.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 666 | 710 | 6.6% |
| Net Income Margin (%) | 6.1% | 8.7% | 42.9% |
| P/E Multiple | 43.8 | 57.2 | 30.6% |
| Shares Outstanding (Mil) | 166 | 166 | 0.0% |
| Cumulative Contribution | 99.0% |
Market Drivers
7/31/2026 to 11/2/2026| Return | Correlation | |
|---|---|---|
| FIGS | 99.0% | |
| Market (SPY) | 0.7% | 22.2% |
| Sector (XLY) | 1.8% | 39.5% |
Fundamental Drivers
The 42.3% change in FIGS stock from 4/30/2026 to 11/2/2026 was primarily driven by a 60.7% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.96 | 21.29 | 42.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 631 | 710 | 12.5% |
| Net Income Margin (%) | 5.4% | 8.7% | 60.7% |
| P/E Multiple | 72.1 | 57.2 | -20.6% |
| Shares Outstanding (Mil) | 165 | 166 | -0.9% |
| Cumulative Contribution | 42.3% |
Market Drivers
4/30/2026 to 11/2/2026| Return | Correlation | |
|---|---|---|
| FIGS | 42.3% | |
| Market (SPY) | 4.9% | 6.4% |
| Sector (XLY) | 0.0% | 30.8% |
Fundamental Drivers
The 185.4% change in FIGS stock from 10/31/2025 to 11/2/2026 was primarily driven by a 591.6% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.46 | 21.29 | 185.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 570 | 710 | 24.7% |
| Net Income Margin (%) | 1.3% | 8.7% | 591.6% |
| P/E Multiple | 169.0 | 57.2 | -66.1% |
| Shares Outstanding (Mil) | 163 | 166 | -2.3% |
| Cumulative Contribution | 185.4% |
Market Drivers
10/31/2025 to 11/2/2026| Return | Correlation | |
|---|---|---|
| FIGS | 185.4% | |
| Market (SPY) | 11.2% | 14.5% |
| Sector (XLY) | -0.9% | 28.6% |
Fundamental Drivers
The 286.4% change in FIGS stock from 10/31/2023 to 11/2/2026 was primarily driven by a 233.0% change in the company's Net Income Margin (%).| (LTM values as of) | 10312023 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.51 | 21.29 | 286.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 532 | 710 | 33.5% |
| Net Income Margin (%) | 2.6% | 8.7% | 233.0% |
| P/E Multiple | 66.2 | 57.2 | -13.6% |
| Shares Outstanding (Mil) | 167 | 166 | 0.6% |
| Cumulative Contribution | 286.4% |
Market Drivers
10/31/2023 to 11/2/2026| Return | Correlation | |
|---|---|---|
| FIGS | 286.4% | |
| Market (SPY) | 86.0% | 23.8% |
| Sector (XLY) | 58.9% | 30.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FIGS Return | -8% | -76% | 3% | -11% | 84% | 87% | -29% |
| Peers Return | -0% | -16% | 22% | 23% | -17% | 29% | 34% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| FIGS Win Rate | 38% | 42% | 50% | 50% | 67% | 45% | |
| Peers Win Rate | 50% | 45% | 58% | 62% | 43% | 67% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| FIGS Max Drawdown | - | -79% | -46% | -37% | -42% | -46% | |
| Peers Max Drawdown | -29% | -36% | -26% | -24% | -39% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: SGC, LAKE, CTAS, UNF, ARMK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/2/2026 (YTD)
How Low Can It Go
| Event | FIGS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.0% | -18.8% |
| % Gain to Breakeven | 49.2% | 23.1% |
| Time to Breakeven | 77 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -26.3% | -9.5% |
| % Gain to Breakeven | 35.7% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -38.4% | -6.7% |
| % Gain to Breakeven | 62.4% | 7.1% |
| Time to Breakeven | 970 days | 31 days |
In The Past
FIGS's stock fell -33.0% during the 2025 US Tariff Shock. Such a loss loss requires a 49.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | FIGS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.0% | -18.8% |
| % Gain to Breakeven | 49.2% | 23.1% |
| Time to Breakeven | 77 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -26.3% | -9.5% |
| % Gain to Breakeven | 35.7% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -38.4% | -6.7% |
| % Gain to Breakeven | 62.4% | 7.1% |
| Time to Breakeven | 970 days | 31 days |
In The Past
FIGS's stock fell -33.0% during the 2025 US Tariff Shock. Such a loss loss requires a 49.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About FIGS (FIGS)
FIGS, Inc. is a direct-to-consumer (DTC) lifestyle company specializing in healthcare apparel. It designs and sells premium medical wear and related accessories, primarily targeting healthcare professionals. Founded in 2013 and headquartered in Santa Monica, California, FIGS aims to elevate the experience of healthcare workers through high-quality, functional, and fashionable attire.
The company's core offerings include essential healthcare apparel such as scrubs, lab coats, and under scrubs. FIGS also diversifies its product line with a range of non-scrub items, including outerwear, activewear, loungewear, compression socks, footwear, and masks. Specific apparel offerings encompass sports bras, performance leggings, various tops made from materials like super-soft pima cotton, vests, and jackets.
FIGS exclusively markets and sells its products through its robust digital platform, which comprises both its official website and a dedicated mobile application. This direct-to-consumer model enables FIGS to efficiently reach its primary customer base—healthcare professionals across the United States—and foster a strong brand community.
AI Analysis | Feedback
Here are 1-3 brief analogies for FIGS:
- Warby Parker for healthcare apparel.
- Lululemon for healthcare professionals.
AI Analysis | Feedback
- Healthcare Apparel (Scrubs): FIGS' primary offering, including scrubs, lab coats, and underscrubs, specifically designed for healthcare professionals.
- Performance & Lifestyle Apparel: A range of clothing such as outerwear, activewear, loungewear, sports bras, leggings, tops, vests, and jackets for comfort and function.
- Footwear: Shoes designed to complement healthcare and lifestyle needs.
- Compression Socks: Specialized socks offering support and comfort, particularly beneficial for healthcare professionals.
- Masks: Protective face coverings.
AI Analysis | Feedback
FIGS, Inc. primarily sells its products directly to individuals.
The company serves the following categories of customers:
- Healthcare Professionals: This is the core customer base, including doctors, nurses, surgeons, and other medical personnel who purchase FIGS' scrubs, lab coats, under scrubs, and other specialized healthcare apparel for their work.
- Students in Healthcare Fields: Individuals pursuing degrees and training in medicine, nursing, and other allied health professions who require scrubs and professional attire for their studies and clinical rotations.
- General Consumers seeking Premium Activewear and Loungewear: Beyond work attire, FIGS also targets individuals looking for high-quality, comfortable, and performance-oriented activewear, loungewear, and lifestyle apparel, such as sports bras, leggings, tops, and outerwear. This category may include healthcare professionals for their off-duty wear, as well as a broader audience attracted to the brand's style and comfort.
AI Analysis | Feedback
AI Analysis | Feedback
Trina Spear, Chief Executive Officer & Co-Founder
Trina Spear co-founded FIGS in 2013 and serves as its Chief Executive Officer and a member of the Board. Prior to co-founding FIGS, she was an associate at The Blackstone Group Inc. in the firm's hedge fund group. She began her career at Citigroup Global Markets Inc., spending four years in its investment banking and private equity divisions. Spear earned her MBA from Harvard Business School.
Sarah Oughtred, Chief Financial Officer
Sarah Oughtred has served as FIGS' Chief Financial Officer since August 2024. In this role, she leads all aspects of finance, including Financial Planning & Analysis (FP&A) and accounting, as well as data analytics. Before joining FIGS, Oughtred spent nearly 17 years at lululemon athletica inc., holding various finance leadership positions, including Senior Vice President, Financial Planning & Analysis since 2021. She also spent three years at PricewaterhouseCoopers in the audit and assurance practice.
Heather Hasson, Executive Chair & Co-Founder
Heather Hasson co-founded FIGS and serves as Executive Chair of the Board, focusing on strategy and innovation. She previously held the role of Co-Chief Executive Officer until August 2022. Hasson is recognized as a multi-disciplined entrepreneur with expertise in brand building, product innovation, and scaling consumer businesses. She and Trina Spear started FIGS in 2013, initially using personal savings and selling scrubs out of hospital parking lots.
Todd Maron, Chief Legal Officer
Todd Maron serves as the Chief Legal Officer at FIGS. Before joining FIGS, he held the position of Chief Legal Officer at Wheels. His prior experience also includes serving as General Counsel and Deputy General Counsel at Tesla. Maron's legal background includes working as an attorney at Jaffe and Clemens and as an associate at Irell & Manella, focusing on commercial litigation, intellectual property, and securities law.
AI Analysis | Feedback
Here are the key risks to FIGS' business:
- Intense Competition: FIGS operates in a highly competitive healthcare apparel market. The company faces significant competition from established legacy uniform suppliers, emerging fast-fashion brands, and other premium niche brands. While FIGS has successfully built a strong brand and customer loyalty in the direct-to-consumer (DTC) premium segment, its overall market share in the broader medical apparel market is still relatively small. Competitors are also increasingly investing in online presence and product differentiation, which could impact FIGS' ability to maintain or grow its market share and revenue.
- Profitability Concerns and High Valuation Risk: Despite its strong brand and loyal customer base, FIGS has acknowledged challenges in achieving consistent profitability. The company's stock has been noted for its high valuation, with a high price-to-earnings (P/E) ratio, which suggests that much of its expected growth may already be priced into the stock. This elevated valuation makes FIGS particularly sensitive to any disappointments in financial performance, such as weaker-than-expected active customer growth or pressured earnings, potentially leading to significant stock price volatility and downside risk for investors.
- Supply Chain Dependencies and Global Trade Uncertainties: FIGS relies on a limited number of third-party suppliers for the manufacturing of its materials and products. This dependency introduces supply chain risks, as disruptions with these key suppliers could adversely affect the company's production and ability to meet demand. Furthermore, FIGS is exposed to global trade and tariff uncertainties, which can lead to increased import costs and pressure on its margins.
AI Analysis | Feedback
- Increased competition from established athletic and apparel brands entering the premium healthcare apparel market, leveraging their existing design capabilities, supply chains, and marketing power.
- Rising customer acquisition costs and increasing saturation within the direct-to-consumer (DTC) e-commerce model, which is FIGS' sole sales channel.
AI Analysis | Feedback
FIGS, Inc. operates within the healthcare apparel and lifestyle market, primarily focusing on medical scrubs and other professional and athleisure wear for healthcare professionals.
The addressable markets for FIGS' main products and services are as follows:
- Global Medical Apparel Market: The global medical clothing market size was valued at approximately USD 122.04 billion in 2025 and is predicted to increase to about USD 242.78 billion by 2035.
- U.S. Medical Apparel Market: The U.S. medical clothing market was valued at USD 42.26 billion in 2022. This market is projected to reach USD 46.57 billion by 2026.
- Global Medical Scrubs Market: The global medical scrubs market size is estimated at USD 54.27 billion in 2025 and is forecasted to reach USD 73.1 billion by 2030. Other estimates for the global medical scrubs market for 2024-2025 range from USD 49 billion to USD 90 billion, with projections of USD 88 billion to USD 124 billion by 2032.
- U.S. Medical Scrubs Market: The U.S. medical scrub market is projected at USD 9.78 billion in 2025, representing approximately 18.0% of the global scrubs market share. This market is expected to grow to USD 13.4 billion by 2030.
- Global Athleisure Market: For FIGS' non-scrub offerings such as activewear, loungewear, sports bras, and performance leggings, the global athleisure market size was valued at USD 368.61 billion in 2025 and is projected to grow to USD 844.77 billion by 2034.
- U.S. Athleisure Market: The U.S. athleisure market is projected to reach USD 128.78 billion by 2026.
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for FIGS over the next 2-3 years:
- International Expansion: FIGS is actively pursuing a "go deep and go broad" strategy for market development, focusing on expanding its global footprint. The company has reported significant revenue growth in overseas markets and plans to increase its geographic reach from 58 countries to over 80 countries in fiscal year 2026, including new market entries in regions like China, Japan, South Korea, and Latin America. This international push is supported by localized digital marketing and regional distribution centers.
- Product Innovation and Diversification: FIGS is committed to expanding and elevating its product offerings beyond traditional scrubs. This includes enhancing its core product line through proprietary fabric technology (such as the FORMx technical fabric franchise), introducing new silhouettes, broadening underscrub assortments, and launching new collections like the Shift Bag. Additionally, the company is pursuing strategic partnerships, such as a deeper collaboration with New Balance on specialty footwear tailored for healthcare professionals.
- Growth in Active Customers and Average Order Value (AOV): FIGS anticipates continued revenue growth through the sustained momentum of its active customer base and an increase in average order value. The company has reported a rise in active customers and AOV, driven by strong demand for its core products and effective marketing campaigns. Management expects active customer acquisition and engagement to be a significant factor in its 2026 growth.
- Expansion of Institutional Sales through the TEAMS Platform: The TEAMS platform, which is FIGS's business-to-business (B2B) offering, is transitioning from a pilot program to a core revenue driver. This platform enables hospitals and private practices to standardize uniforms and branding through a streamlined portal, leading to increased average order values and higher repeat purchase rates from institutional buyers.
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Share Repurchases
- FIGS authorized a share repurchase program for up to $50 million of its Class A common stock, repurchasing approximately $45.4 million of shares.
- The board subsequently increased the authorization by $50 million, bringing the total share repurchase program to $100 million as of February 27, 2025.
- In 2024, annual share buybacks totaled $45.454 million, and in 2025, they were $2.688 million.
Share Issuance
- FIGS's shares outstanding have seen minor increases over the last few years, with 159.09 million in 2022, 161.12 million in 2023, 161.53 million in 2024, 163.81 million in 2025, and 164.50 million as of March 3, 2026.
- Insider transactions involve the sale of Class A common stock, frequently to cover taxes and fees associated with the vesting and settlement of Restricted Stock Units (RSUs).
Capital Expenditures
- Capital expenditures were -$8.17 million over the last 12 months.
- In the most recent quarter (Q4 2025), capital expenditures amounted to $2.9 million.
- The company completed a fulfillment enhancement project, transitioning all operations to a new facility in Goodyear, Arizona, aimed at optimizing customer service and supporting long-term scalability.
Peer Outperformance in Apparel, Accessories & Luxury Goods
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| FIGS | FIGS | 10.5% | 57.2x | 185.4% | 212.6% | -37.9% | — |
| RL | Ralph Lauren | 9.1% | 24.3x | 25.7% | 260.1% | 274.1% | +312pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -3.2% | 35.5% | 76.9% | CVSA 255% · GHC 117% · LRN 109% |
| Homebuilding | 17 | 3.8% | 32.7% | 38.5% | PHM 188% · CVCO 174% · TOL 169% |
| Hotels, Resorts & Cruise Lines | 21 | 24.4% | 60.9% | 20.3% | RCL 278% · MAR 171% · HLT 162% |
| Automotive Retail | 17 | -0.6% | 15.0% | 11.8% | MUSA 220% · PAG 125% · ORLY 119% |
| Home Furnishings | 3 | 2.7% | 74.8% | 3.9% | SGI 58% · MHK -15% |
| Home Improvement Retail | 5 | -7.6% | 18.9% | 3.4% | HD 5% · LOW 3% · FND -65% |
| Footwear | 9 | 86.5% | 82.4% | -8.5% | DECK 29% · SHOO 9% · CROX -9% |
| Specialized Consumer Services | 10 | -5.3% | 38.1% | -13.8% | HRB 171% · FTDR 126% · ADT 29% |
| Restaurants | 36 | 3.1% | -5.5% | -14.6% | EAT 407% · CAKE 209% · TXRH 133% |
| Distributors | 4 | -8.1% | -15.2% | -23.8% | ARMK 113% · GPC 8% · POOL -55% |
| Leisure Products | 14 | -11.3% | -11.9% | -33.0% | GOLF 82% · HAS 54% · BC -9% |
| Household Appliances | 18 | 20.9% | 18.8% | -33.8% | WHR -81% |
| Apparel, Accessories & Luxury Goods ← | 29 | 11.4% | 30.3% | -38.6% | RL 274% · TPR 246% · KTB 68% |
| Leisure Facilities | 12 | -4.0% | 3.1% | -40.5% | OSW 186% · LTH 149% · PLNT -33% |
| Apparel Retail | 27 | 1.0% | 5.7% | -41.2% | ANF 287% · TJX 125% · ROST 113% |
| Computer & Electronics Retail | 3 | 23.3% | 65.6% | -41.7% | BBY -2% · GME -53% |
| Broadline Retail | 12 | -3.1% | 20.8% | -44.1% | EBAY 76% · AMZN 48% · OLLI 25% |
| Automotive Parts & Equipment | 39 | -10.5% | -10.6% | -45.9% | MOD 1011% · GTX 190% · PATK 73% |
| Casinos & Gaming | 21 | -24.9% | -19.9% | -50.2% | MCRI 82% · BYD 24% · RRR 21% |
| Other Specialty Retail | 24 | -9.6% | -14.2% | -60.7% | ULTA 71% · ASO 47% · DKS 29% |
| Automobile Manufacturers | 8 | -11.6% | -44.2% | -69.3% | GM 69% · TSLA 3% · F -5% |
| Consumer Electronics | 11 | -35.8% | -39.8% | -80.5% | GRMN 111% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| The Bear Case: How FIGS Behaves During Market Shocks | 05/09/2026 | |
| Is ... Fall In FIGS (FIGS) Stock A Buying Opportunity? | 03/18/2026 | |
| FIGS Stock (+11%): Q4 Earnings Beat & Strong 2026 Guidance Fuels Rally | 03/03/2026 | |
| FIGS Stock (+24%) : Massive Earnings Beat and Raised Guidance Ignites Squeeze | 02/28/2026 | |
| FIGS Earnings Notes | 12/16/2025 | |
| Would You Still Hold FIGS Stock If It Fell 30%? | 10/17/2025 | |
| FIGS (FIGS) Operating Cash Flow Comparison | 08/08/2025 | |
| FIGS (FIGS) Revenue Comparison | 08/08/2025 | |
| FIGS (FIGS) Net Income Comparison | 08/08/2025 | |
| FIGS (FIGS) EBITDA Comparison | 08/08/2025 | |
| ARTICLES | ||
| Small Cap Stocks At 52-Week Highs: Wednesday’s Full List | 10/15/2026 | |
| Market Movers | Winners: BMBL, ARL, FIGS | Losers: CTNM, FMCC, IMXI | 10/13/2026 | |
| FIGS Stock To $11? | 03/18/2026 | |
| FIGS Stock (+11%): Q4 Earnings Beat & Strong 2026 Guidance Fuels Rally | 03/03/2026 |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 37.86 |
| Mkt Cap | 4.7 |
| Rev LTM | 2,523 |
| Op Inc LTM | 136 |
| FCF LTM | 97 |
| FCF 3Y Avg | 116 |
| CFO LTM | 205 |
| CFO 3Y Avg | 266 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.5% |
| Rev Chg 3Y Avg | 8.7% |
| Rev Chg Q | 9.3% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Inc Chg LTM | 9.8% |
| Op Inc Chg 3Y Avg | 13.6% |
| Op Mgn LTM | 5.4% |
| Op Mgn 3Y Avg | 5.4% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 8.1% |
| CFO/Rev 3Y Avg | 10.8% |
| FCF/Rev LTM | 5.5% |
| FCF/Rev 3Y Avg | 5.9% |
Price Behavior
| Market Price | $21.29 | |
| Market Cap ($ Bil) | 3.5 | |
| First Trading Date | 05/27/2021 | |
| Distance from 52W High | -1.3% | |
| 50 Days | 200 Days | |
| DMA Price | $15.90 | $13.49 |
| DMA Trend | up | up |
| Distance from DMA | 33.9% | 57.8% |
| 3M | 1YR | |
| Volatility | 74.2% | 70.8% |
| Downside Capture | -57.51 | 29.77 |
| Upside Capture | 392.05 | 147.32 |
| Correlation (S&P 500) | 25.5% | 15.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.26 | 1.24 | 1.50 | 0.38 | 0.79 | 1.04 |
| Up Beta | -4.50 | -1.23 | -1.04 | -0.94 | -0.09 | 0.74 |
| Down Beta | 3.63 | 2.17 | 2.27 | 0.66 | 1.26 | 0.96 |
| Up Capture | 331% | 288% | 445% | 94% | 184% | 288% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 16 | 25 | 37 | 65 | 127 | 362 |
| Down Capture | -425% | -25% | -43% | 19% | 38% | 103% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 6 | 17 | 26 | 60 | 116 | 366 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FIGS | |
|---|---|---|---|---|
| FIGS | 174.4% | 70.8% | 1.71 | - |
| Sector ETF (XLY) | 1.7% | 19.3% | -0.05 | 27.3% |
| Equity (SPY) | 11.6% | 12.8% | 0.57 | 14.3% |
| Gold (GLD) | -2.3% | 28.6% | -0.09 | 13.5% |
| Commodities (DBC) | 43.1% | 20.9% | 1.60 | -10.1% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.50 | 18.8% |
| Bitcoin (BTCUSD) | -28.8% | 43.6% | -0.66 | 4.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FIGS | |
|---|---|---|---|---|
| FIGS | -10.2% | 70.2% | 0.15 | - |
| Sector ETF (XLY) | 4.5% | 24.1% | 0.14 | 39.7% |
| Equity (SPY) | 12.0% | 17.1% | 0.52 | 35.8% |
| Gold (GLD) | 16.5% | 19.0% | 0.69 | 7.2% |
| Commodities (DBC) | 8.4% | 19.6% | 0.31 | -1.1% |
| Real Estate (VNQ) | 1.1% | 18.9% | -0.05 | 34.5% |
| Bitcoin (BTCUSD) | 4.1% | 51.6% | 0.26 | 21.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FIGS | |
|---|---|---|---|---|
| FIGS | -3.2% | 70.3% | 0.22 | - |
| Sector ETF (XLY) | 12.6% | 22.2% | 0.52 | 38.9% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 35.3% |
| Gold (GLD) | 11.6% | 16.5% | 0.57 | 6.1% |
| Commodities (DBC) | 7.8% | 18.1% | 0.34 | -0.2% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 33.7% |
| Bitcoin (BTCUSD) | 61.7% | 66.3% | 1.01 | 18.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 26.9% | 32.0% | 28.3% |
| 5/7/2026 | -24.3% | -22.1% | -24.7% |
| 2/26/2026 | 23.9% | 36.1% | 17.9% |
| 11/6/2025 | 13.7% | 25.0% | 54.4% |
| 8/7/2025 | -5.0% | 4.4% | 4.3% |
| 5/8/2025 | -2.6% | -8.1% | 2.2% |
| 2/27/2025 | -18.1% | -12.7% | -15.8% |
| 11/7/2024 | -28.3% | -24.9% | -21.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 10 | 11 |
| # Negative | 11 | 12 | 11 |
| Median Positive | 13.2% | 13.4% | 17.9% |
| Median Negative | -14.0% | -11.8% | -17.4% |
| Max Positive | 26.9% | 36.1% | 60.8% |
| Max Negative | -28.3% | -31.9% | -44.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 26.9% | 32.0% | 28.3% |
| 5/7/2026 | -24.3% | -22.1% | -24.7% |
| 2/26/2026 | 23.9% | 36.1% | 17.9% |
| 11/6/2025 | 13.7% | 25.0% | 54.4% |
| 8/7/2025 | -5.0% | 4.4% | 4.3% |
| 5/8/2025 | -2.6% | -8.1% | 2.2% |
| 2/27/2025 | -18.1% | -12.7% | -15.8% |
| 11/7/2024 | -28.3% | -24.9% | -21.6% |
| 8/8/2024 | -14.0% | -5.6% | -5.9% |
| 5/9/2024 | -4.1% | 3.2% | -0.4% |
| 2/28/2024 | -13.3% | -10.8% | -17.4% |
| 11/2/2023 | 21.2% | 4.3% | 31.0% |
| 8/3/2023 | 0.9% | -4.0% | -11.4% |
| 5/4/2023 | 11.1% | 15.9% | 22.2% |
| 2/28/2023 | -26.6% | -31.9% | -34.3% |
| 11/10/2022 | 5.2% | -6.1% | 11.1% |
| 8/4/2022 | 6.9% | 11.0% | 4.0% |
| 5/12/2022 | -25.0% | -29.8% | -44.6% |
| 3/8/2022 | 23.1% | 17.2% | 60.8% |
| 1/10/2022 | 13.2% | 3.3% | -9.5% |
| 11/10/2021 | -12.5% | -17.3% | -36.8% |
| 8/12/2021 | 0.8% | -9.1% | 4.3% |
| SUMMARY STATS | |||
| # Positive | 11 | 10 | 11 |
| # Negative | 11 | 12 | 11 |
| Median Positive | 13.2% | 13.4% | 17.9% |
| Median Negative | -14.0% | -11.8% | -17.4% |
| Max Positive | 26.9% | 36.1% | 60.8% |
| Max Negative | -28.3% | -31.9% | -44.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
| 12/31/2021 | 03/10/2022 | 10-K |
| 09/30/2021 | 11/10/2021 | 10-Q |
| 06/30/2021 | 08/12/2021 | 10-Q |
| 03/31/2021 | 05/28/2021 | 424B4 |
Recent Forward Guidance
Updated 10/4/2026Latest: Q2 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue Growth | Reported | 20.0% | 5.0% | Raised | Guidance: 15.0% for 2026 | |||
| 2026 Adjusted EBITDA Margin | Reported | 14.8% | 14.9% | 15.0% | 1.8% | Raised | Guidance: 13.1% for 2026 | |
Prior: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Revenues growth | Reported | 14.0% | 15.0% | 16.0% | 4.0% | Raised | Guidance: 11.0% for 2026 | |
| 2026 Adjusted EBITDA Margin | Reported | 13.0% | 13.1% | 13.2% | 0.3% | Raised | Guidance: 12.8% for 2026 | |
| Q2 2026 Net Revenues growth | Reported | 20.0% | ||||||
Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Net Revenues Growth | Reported | 20.0% | ||||||
| 2026 Net Revenues Growth | Reported | 10.0% | 11.0% | 12.0% | 4.0% | Higher New | Actual: 7.0% for 2025 | |
| 2026 Adjusted EBITDA Margin | Reported | 12.7% | 12.8% | 12.9% | 2.5% | Higher New | Actual: 10.3% for 2025 | |
Q3 2025 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Net Revenues Growth | Reported | 7.0% | 4.0% | Raised | Guidance: 3.0% for 2025 | |||
| 2025 Adjusted EBITDA Margin | Reported | 10.3% | 1.6% | Raised | Guidance: 8.75% for 2025 | |||
Insider Activity
Updated 7/6/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Oughtred, Sarah | Chief Financial Officer | Direct | Sell | 5062026 | 14.33 | 23,597 | 338,237 | 16,194,311 | Form |
| 2 | Hasson, Heather L | Executive Chairman | Direct | Sell | 5062026 | 14.33 | 32,385 | 464,203 | 20,552,046 | Form |
| 3 | Oughtred, Sarah | Chief Financial Officer | Direct | Sell | 4062026 | 14.44 | 10,872 | 156,980 | 16,653,654 | Form |
| 4 | Spear, Catherine Eva | Chief Executive Officer | Direct | Sell | 4062026 | 14.44 | 62,335 | 900,049 | 25,917,306 | Form |
| 5 | Hasson, Heather L | Executive Chair | Direct | Sell | 3032026 | 16.85 | 556,327 | 9,375,334 | 21,098,398 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Oughtred, Sarah | Chief Financial Officer | Direct | Sell | 5062026 | 14.33 | 23,597 | 338,237 | 16,194,311 | Form |
| 2 | Hasson, Heather L | Executive Chairman | Direct | Sell | 5062026 | 14.33 | 32,385 | 464,203 | 20,552,046 | Form |
| 3 | Oughtred, Sarah | Chief Financial Officer | Direct | Sell | 4062026 | 14.44 | 10,872 | 156,980 | 16,653,654 | Form |
| 4 | Spear, Catherine Eva | Chief Executive Officer | Direct | Sell | 4062026 | 14.44 | 62,335 | 900,049 | 25,917,306 | Form |
| 5 | Hasson, Heather L | Executive Chair | Direct | Sell | 3032026 | 16.85 | 556,327 | 9,375,334 | 21,098,398 | Form |
| 6 | Oughtred, Sarah | Chief Financial Officer | Direct | Sell | 2092026 | 10.56 | 22,690 | 239,606 | 8,675,040 | Form |
| 7 | Hasson, Heather L | Executive Chair | Direct | Sell | 2092026 | 10.56 | 22,874 | 241,549 | 13,220,772 | Form |
| 8 | Oughtred, Sarah | Chief Financial Officer | Direct | Sell | 11062025 | 7.39 | 22,745 | 168,015 | 6,244,479 | Form |
| 9 | Hasson, Heather L | Executive Chair | Direct | Sell | 11062025 | 7.39 | 23,356 | 172,528 | 9,417,123 | Form |
| 10 | Oughtred, Sarah | Chief Financial Officer | Direct | Sell | 10062025 | 7.36 | 9,968 | 73,364 | 6,389,142 | Form |
| 11 | Spear, Catherine Eva | Chief Executive Officer | Direct | Sell | 10062025 | 6.88 | 62,213 | 428,081 | 13,122,103 | Form |
| 12 | Spear, Catherine Eva | Chief Executive Officer | Direct | Sell | 8142025 | 6.88 | 65,866 | 453,158 | 13,548,412 | Form |
| 13 | Oughtred, Sarah | Chief Financial Officer | Direct | Sell | 8062025 | 6.19 | 99,834 | 617,972 | 5,435,179 | Form |
Investor Activity (13F)
Updated Nov 3, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
FIGS — Investor Video Playlist





Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Apparel, Accessories & Luxury Goods Resources |
| Vogue Business |
| Jing Daily |
| Luxury Daily |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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