GICS Sector : Consumer Cyclical
FIGS, Inc.operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States.It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, and masks.
FIGS reported net revenues of $201.9 million in Q4 2025, a 33% YoY jump that eclipsed analysts’ $201 million expectation. Adjusted EBITDA margin rose to 12.9%, beating the 12.7% guidance and delivering a $0.1 EPS versus the $0.02 forecast, as CEO Trina Spear highlighted the “record net cash and investment position of just over $300 million.” The stock trades at a P/E of 68.51, P/S of 3.75, and EV/EBITDA of 43.27, reflecting high growth premiums and modest ROIC of 5.56%.
Publication Date: Apr -13
Product engine upgrades, including new fabric technologies and layering systems, lifted average order value by 9% to $126. The company’s scrubwear, now 77% of revenue, grew 35%, while non-scrubwear expanded 26%, signaling a balanced portfolio that supports margin resilience.
FIGS’ Community Hubs, now 2.9 million active customers globally, continue to outperform, with each hub exceeding top-line expectations. The planned four new hubs in 2026 are projected to be profitable in year one, enhancing operating leverage.
International revenue surged 55% to $37.7 million, driven by strong demand in Canada, Mexico, Europe, and Australia. FIGS plans to penetrate 80 markets in 2026, with a focused push into Europe and APAC in the first half of the year.
Leveraging AI, FIGS tailors community interactions, driving repeat purchases and higher LTV. This personalization wave is expected to reduce churn and amplify order frequency across all customer cohorts.
The TEAMS B2B segment remains a single-digit revenue share but is growing. With the upcoming TEAMS Store launch, FIGS anticipates deeper penetration and improved gross margins despite wholesale pricing discounts.
Gross margin contracted 440 bps to 62.9% due to tariff headwinds, yet the company projects a modest margin rebound in 2026. Planned inventory write-offs and supply‑chain diversification aim to stabilize costs.
FIGS will prioritize growth opportunities while maintaining an opportunistic share buyback program to offset dilution. The company’s net debt/EBITDA of –0.41 indicates a strong cash position for strategic investments.
Guided to 10–12% revenue growth in 2026, FIGS targets $700 million this year, a stepping stone toward a $1 billion aspiration, underpinned by sustained active‑customer momentum and expanding product lines.
Why Figs (FIGS) is Poised to Beat Earnings Estimates Again
Apr -15
FIGS (NYSE:FIGS) CFO Sarah Oughtred Sells 10,872 Shares of Stock
Apr -07
Financial Review: Capri (NYSE:CPRI) versus FIGS (NYSE:FIGS)
Apr -07
Best Momentum Stocks to Buy for April 6th
Apr -06
New Strong Buy Stocks for April 6th
Apr -06
FIGS (NYSE:FIGS) & Citi Trends (NASDAQ:CTRN) Head-To-Head Review
Apr -05
Best Momentum Stock to Buy for March 23rd
Mar -23
FIGS (NYSE:FIGS) Shares Gap Up Following Analyst Upgrade
Mar -21
FIGS' Scrubwear growth is driven by increasing demand for comfortable, functional, and fashionable medical apparel. The brand's focus on quality, durability, and style resonates with healthcare professionals. Additionally, the shift towards online shopping and subscription-based services contributes to the growth. Furthermore, FIGS' strategic partnerships with hospitals and medical institutions expand its customer base, fueling the 3.5% growth.
FIGS' Non-Scrubwear segment growth of 2.5% is driven by increasing demand for comfortable, fashion-forward apparel among healthcare professionals. Expansion into new product categories, such as lab coats and outerwear, also contributes to growth. Additionally, the company's strong e-commerce platform and strategic partnerships with healthcare organizations support sales growth.
High-quality, comfortable, and durable scrub tops designed for medical professionals
Stylish, comfortable, and functional scrub pants designed for medical professionals
High-quality, professional, and durable lab coats designed for medical professionals
Water-resistant and warm outerwear designed for medical professionals
High-quality accessories such as hats, bags, and socks designed for medical professionals
FIGS, Inc. faces moderate threat from substitutes due to the presence of alternative fashion brands and online marketplaces.
FIGS, Inc. has a high bargaining power of customers due to the presence of online reviews and social media, which gives customers the power to influence the market.
FIGS, Inc. has a low bargaining power of suppliers due to the presence of multiple suppliers and the company's strong brand reputation.
FIGS, Inc. faces a moderate threat of new entrants due to the presence of low barriers to entry and the growing demand for online fashion.
FIGS, Inc. operates in a highly competitive market with many established players, leading to a high intensity of rivalry.
| Value | |
|---|---|
| Debt Weight | 11.11% |
| Debt Cost | 11.01% |
| Equity Weight | 88.89% |
| Equity Cost | 11.01% |
| WACC | 11.01% |
| Leverage | 12.50% |
Value: 1.0
Growth: 8.8
Quality: 6.0
Yield: 0.0
Momentum: 9.5
Volatility: 3.0
1-Year Total Return ->
Value: 9.6
Growth: 2.7
Quality: 4.0
Yield: 0.0
Momentum: 9.5
Volatility: 0.3
1-Year Total Return ->
Value: 10.0
Growth: 1.2
Quality: 4.8
Yield: 1.0
Momentum: 3.0
Volatility: 5.7
1-Year Total Return ->
Value: 9.8
Growth: 2.1
Quality: 4.0
Yield: 2.0
Momentum: 1.5
Volatility: 2.3
1-Year Total Return ->
Value: 7.0
Growth: 0.9
Quality: 4.8
Yield: 2.0
Momentum: 3.0
Volatility: 3.7
1-Year Total Return ->
Value: 8.0
Growth: 1.3
Quality: 3.2
Yield: 0.0
Momentum: 0.5
Volatility: 3.7
1-Year Total Return ->