FIGS - Public Comps and Valuation Multiples

FIGS Overview

About FIGS

FIGS Inc is a healthcare apparel company. The Company designs and sells scrubwear and non-scrubwear, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear and other apparel. The Company generates maximum revenue from United States. Sales are generated through the Company’s digital platforms.

Founded

2013

HQ

Employees

316

Website

wearfigs.com

Sectors

Clothing & Accessories

Financials

LTM Revenue $565M

LTM EBITDA $51.3M

EV

$969M

Valuation Multiples

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FIGS Financials

As of August 2025, FIGS reported last 12-month revenue of $565M and EBITDA of $51.3M.

In the same period, FIGS generated $376M in LTM gross profit and $8.3M in net income.

See FIGS valuation multiples based on analyst estimates

FIGS P&L

In the most recent fiscal year, FIGS reported revenue of $556M and EBITDA of $9.0M.

FIGS expects next 12-month revenue of XXX and NTM EBITDA of XXX

See FIGS valuation multiples based on analyst estimates

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$565M	XXX	$556M	XXX	XXX	XXX
Gross Profit	$376M	XXX	$376M	XXX	XXX	XXX
Gross Margin	67%	XXX	68%	XXX	XXX	XXX
EBITDA	$51.3M	XXX	$9.0M	XXX	XXX	XXX
EBITDA Margin	9%	XXX	2%	XXX	XXX	XXX
EBIT	$10.7M	XXX	$2.3M	XXX	XXX	XXX
EBIT Margin	2%	XXX	0%	XXX	XXX	XXX
Net Profit	$8.3M	XXX	$2.7M	XXX	XXX	XXX
Net Margin	1%	XXX	0%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for FIGS including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $565M. EBITDA for the last twelve months was $51.3M. In the most recent fiscal year, FIGS achieved $556M in revenue and $9.0M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$565M	Analyst estimates available to subscribers	$556M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$376M	Analyst estimates available to subscribers	$376M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	66.6% gross margin	Analyst estimates available to subscribers	67.6% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$51.3M	Analyst estimates available to subscribers	$9.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	9.1% EBITDA margin	Analyst estimates available to subscribers	1.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$10.7M	Analyst estimates available to subscribers	$2.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	1.9% EBIT margin	Analyst estimates available to subscribers	0.4% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$8.3M	Analyst estimates available to subscribers	$2.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	1.5% net profit margin	Analyst estimates available to subscribers	0.5% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for FIGS

This financial data table provides comprehensive performance metrics for FIGS, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

FIGS generated $565M in revenue over the last twelve months.
The company achieved $51.3M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $376M.
Net income over the last twelve months reached $8.3M.

Fiscal Year Performance

In the most recent fiscal year, FIGS reported $556M in total revenue.
Fiscal year EBITDA was $9.0M.
The company maintained a gross profit margin of 67.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 1.6%.
Net profit margin reached 0.5% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for FIGS. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

FIGS Stock Performance

FIGS has current market cap of $1.2B, and EV of $969M.

Market Cap Evolution

FIGS Stock Data

As of September 12, 2025, FIGS's stock price is $7.

See FIGS trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$969M	$1.2B	XXX	XXX	XXX	XXX	$0.05

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FIGS Valuation Multiples

FIGS's trades at 1.7x EV/Revenue multiple, and 108.1x EV/EBITDA.

See valuation multiples for FIGS and 15K+ public comps

FIGS Financial Valuation Multiples

As of September 12, 2025, FIGS has market cap of $1.2B and EV of $969M.

Equity research analysts estimate FIGS's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

FIGS has a P/E ratio of 139.3x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$1.2B	XXX	$1.2B	XXX	XXX	XXX
EV (current)	$969M	XXX	$969M	XXX	XXX	XXX
EV/Revenue	1.7x	XXX	1.7x	XXX	XXX	XXX
EV/EBITDA	18.9x	XXX	108.1x	XXX	XXX	XXX
EV/EBIT	90.8x	XXX	427.7x	XXX	XXX	XXX
EV/Gross Profit	2.6x	XXX	n/a	XXX	XXX	XXX
P/E	139.3x	XXX	425.0x	XXX	XXX	XXX
EV/FCF	24.2x	XXX	15.1x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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FIGS Margins & Growth Rates

FIGS's last 12 month revenue growth is 3%

FIGS's revenue per employee in the last FY averaged $1.8M, while opex per employee averaged $1.2M for the same period.

FIGS's rule of 40 is 10% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

FIGS's rule of X is 18% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

See operational valuation multiples for FIGS and other 15K+ public comps

FIGS Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	3%	XXX	3%	XXX	XXX	XXX
EBITDA Margin	9%	XXX	2%	XXX	XXX	XXX
EBITDA Growth	4%	XXX	17%	XXX	XXX	XXX
Rule of 40	10%	XXX	5%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	18%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$1.8M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$1.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	41%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	67%	XXX	XXX	XXX

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