FIGS Inc. Class A Common Stock (FIGS)

FairStock Score: 45/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for a durable business bought at a sensible price, and FIGS is a mixed case. It has a recognizable brand in healthcare apparel and sells direct to consumers. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $196.6M and net income was $28.4M, or $0.15 diluted EPS, a sharp jump from fiscal Q2 2025's $152.6M revenue, $7.1M net income, and $0.04 EPS. For FY2025, revenue was $631.1M and net income only $34.3M; FY2024 net income was $2.7M; FY2023 was $22.6M. So the annual record is volatile and the Lynch category computed by FairStock is SLOW GROWER - Shrinking, with profit down 7.2% a year over five years despite 19.1% revenue growth. The balance sheet is conservative: D/E 0.13, Piotroski 8/9, Altman 16.62, and trailing FCF $97.2M. But ROCE is 7.75%, and apparel has limited switching costs; the moat is brand and customer loyalty, not a toll bridge. At the 2026-10-13 close of $18, FairStock's P/E is 54.55, P/B 6.74, EV/EBITDA 43.90, and FCF yield 2.8%. The Graham Number is $4.45, leaving a margin of safety of -304.49%; that is not Graham's kind of bargain. PEG of 0.18 looks cheap only if the recent profit spike is durable, which the five-year record does not prove. I see improving momentum but a price that already assumes a lot.

In plain English: FIGS makes scrubs and other clothes for healthcare workers, mostly selling directly to customers. Recent results look much better - profit jumped in the spring 2026 quarter - but the longer record is uneven and annual profit is still small for a company this size. At $18, the stock looks expensive compared with current earnings and accounting value, though it could look better if the recent profit surge keeps going.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer