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FIGS (FIGS) Financials

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$14.75 +0.34 (+2.36%)
As of 08/21/2026 03:58 PM Eastern
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Annual Income Statements for FIGS

Annual Income Statements for FIGS

This table shows FIGS's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 0.11 50 -9.56 21 23 2.72 34
Consolidated Net Income / (Loss)		 0.11 50 -9.56 21 23 2.72 34
Net Income / (Loss) Continuing Operations		 0.11 50 -9.56 21 23 2.72 34
Total Pre-Tax Income 		0.11 58 9.86 39 41 14 47
Total Operating Income		 -0.35 58 11 38 34 2.27 38
Total Gross Profit		 79 190 301 354 377 376 420
Total Revenue		 110 263 420 506 546 556 631
Operating Revenue		 110 263 420 506 546 556 631
Total Cost of Revenue		 31 73 118 151 169 180 211
Operating Cost of Revenue		 31 73 118 151 169 180 211
Total Operating Expenses		 80 132 290 317 343 373 382
Selling, General & Admin Expense		 46 93 232 239 266 285 289
Marketing Expense		 33 39 59 78 77 89 93
Total Other Income / (Expense), net		 0.46 0.14 -1.12 1.06 6.76 12 9.06
Interest & Investment Income		 - - - 1.71 6.78 11 8.75
Other Income / (Expense), net		 0.46 0.00 -0.89 -0.65 -0.01 0.83 0.31
Income Tax Expense		 0.00 8.32 19 18 18 12 13
Basic Earnings per Share		 $0.00 $0.32 ($0.06) $0.13 $0.13 $0.02 $0.21
Weighted Average Basic Shares Outstanding		 153.05M 153.33M 159.18M 165.27M 168.07M 169.20M 163.46M
Diluted Earnings per Share		 $0.00 $0.30 ($0.06) $0.11 $0.12 $0.02 $0.19
Weighted Average Diluted Shares Outstanding		 153.62M 163.33M 159.18M 187.55M 182.41M 180.10M 179.49M
Weighted Average Basic & Diluted Shares Outstanding		 - - 164.27M 166.59M 169.91M 162.52M 166.38M

Quarterly Income Statements for FIGS

This table shows FIGS's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 10 1.44 1.10 -1.70 1.89 -0.10 7.10 8.75 19 6.29 28
Consolidated Net Income / (Loss)		 10 1.44 1.10 -1.70 1.89 -0.10 7.10 8.75 19 6.29 28
Net Income / (Loss) Continuing Operations		 10 1.44 1.10 -1.70 1.89 -0.10 7.10 8.75 19 6.29 28
Total Pre-Tax Income 		17 3.28 4.38 -5.70 12 1.86 12 12 21 6.45 37
Total Operating Income		 14 0.44 1.55 -8.63 8.90 -0.21 9.92 9.64 19 4.48 35
Total Gross Profit		 98 82 97 94 102 84 102 106 127 108 148
Total Revenue		 145 119 144 140 152 125 153 152 202 160 197
Operating Revenue		 145 119 144 140 152 125 153 152 202 160 197
Total Cost of Revenue		 47 37 47 46 50 40 50 46 75 52 49
Operating Cost of Revenue		 47 37 47 46 50 40 50 46 75 52 49
Total Operating Expenses		 84 82 96 103 93 85 92 96 108 104 113
Selling, General & Admin Expense		 64 64 73 74 74 67 69 73 80 74 84
Marketing Expense		 20 17 23 29 20 18 23 23 28 29 29
Total Other Income / (Expense), net		 2.28 2.84 2.83 2.93 3.48 2.08 2.12 2.32 2.55 1.96 1.62
Interest & Investment Income		 - 2.85 2.83 2.93 - 2.08 2.12 2.32 2.24 2.24 2.15
Other Income / (Expense), net		 -0.00 -0.01 0.00 0.00 0.84 -0.00 -0.00 0.01 0.31 -0.28 -0.53
Income Tax Expense		 6.51 1.85 3.28 -4.00 10 1.97 4.93 3.21 2.85 0.16 8.50
Basic Earnings per Share		 $0.05 $0.01 $0.01 ($0.01) $0.01 $0.00 $0.04 $0.05 $0.12 $0.04 $0.17
Weighted Average Basic Shares Outstanding		 168.07M 169.92M 170.39M 170.17M 169.20M 162.47M 162.68M 163.67M 163.46M 166.46M 166.47M
Diluted Earnings per Share		 $0.06 $0.01 $0.01 ($0.01) $0.01 $0.00 $0.04 $0.05 $0.10 $0.03 $0.15
Weighted Average Diluted Shares Outstanding		 182.41M 180.70M 179.69M 170.17M 180.10M 162.47M 172.93M 180.88M 179.49M 196.09M 195.14M
Weighted Average Basic & Diluted Shares Outstanding		 169.91M 170.23M 170.86M 169.81M 162.52M 162.55M 163.27M 164.50M 166.38M 167.05M 166.14M

Annual Cash Flow Statements for FIGS

This table details how cash moves in and out of FIGS's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 16 20 139 -38 -16 -59 -3.66
Net Cash From Operating Activities		 6.53 22 66 -35 101 81 61
Net Cash From Continuing Operating Activities		 6.53 22 66 -35 100 81 61
Net Income / (Loss) Continuing Operations		 0.11 50 -9.56 21 23 2.72 34
Consolidated Net Income / (Loss)		 0.11 50 -9.56 21 23 2.72 34
Depreciation Expense		 0.52 0.95 1.42 1.92 2.94 6.69 9.04
Non-Cash Adjustments To Reconcile Net Income		 0.57 9.62 84 37 41 46 45
Changes in Operating Assets and Liabilities, net		 5.34 -39 -9.14 -95 33 26 -27
Net Cash From Investing Activities		 -4.76 -2.26 -2.71 -5.85 -117 -95 -64
Net Cash From Continuing Investing Activities		 -4.76 -2.26 -2.71 -5.85 -117 -95 -64
Purchase of Property, Plant & Equipment		 -4.76 -2.26 -2.71 -5.35 -16 -17 -8.17
Purchase of Investments		 - 0.00 0.00 -0.50 -150 -274 -257
Sale and/or Maturity of Investments		 - - 0.00 0.00 49 197 201
Net Cash From Financing Activities		 14 0.29 76 3.52 0.67 -45 -0.97
Net Cash From Continuing Financing Activities		 14 0.29 76 3.52 0.67 -45 -0.97
Repurchase of Common Equity		 - 0.00 -0.78 0.00 0.00 -45 -2.69
Issuance of Common Equity		 0.00 0.00 96 0.00 0.00 0.25 0.00
Other Financing Activities, net		 14 0.39 -19 3.52 0.67 0.44 1.72
Effect of Exchange Rate Changes		 - - - - 0.00 - 0.10
Cash Income Taxes Paid		 0.00 18 15 12 21 13 8.42

Quarterly Cash Flow Statements for FIGS

This table details how cash moves in and out of FIGS's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -39 11 -24 -7.71 -38 4.36 -39 -4.40 36 -7.68 34
Net Cash From Operating Activities		 20 12 17 23 30 9.24 -12 3.44 61 -3.20 47
Net Cash From Continuing Operating Activities		 20 12 17 23 30 9.24 -12 3.44 61 -3.20 47
Net Income / (Loss) Continuing Operations		 10 1.44 1.10 -1.70 1.89 -0.10 7.10 8.75 19 6.29 28
Consolidated Net Income / (Loss)		 10 1.44 1.10 -1.70 1.89 -0.10 7.10 8.75 19 6.29 28
Depreciation Expense		 0.81 0.85 1.11 2.89 1.85 2.00 2.15 2.33 2.56 3.41 2.37
Non-Cash Adjustments To Reconcile Net Income		 2.93 9.01 11 9.23 11 8.43 13 14 12 -4.87 15
Changes in Operating Assets and Liabilities, net		 3.05 0.32 2.96 12 15 -1.09 -34 -21 28 -8.04 0.89
Net Cash From Investing Activities		 -59 -0.47 -40 -23 -31 -2.18 -27 -8.97 -26 14 11
Net Cash From Continuing Investing Activities		 -59 -0.47 -40 -23 -31 -2.18 -27 -8.97 -26 14 11
Purchase of Property, Plant & Equipment		 -6.62 -0.50 -8.99 -4.17 -3.36 -1.31 -1.09 -2.91 -2.86 -2.42 -2.60
Purchase of Investments		 -84 -41 -97 -54 -83 -55 -82 -49 -71 -105 -65
Sale and/or Maturity of Investments		 32 41 65 35 55 54 56 43 48 122 80
Net Cash From Financing Activities		 0.15 0.01 0.25 -7.27 -38 -2.69 0.19 1.13 0.40 -18 -23
Net Cash From Continuing Financing Activities		 0.15 0.01 0.25 -7.27 -38 -2.69 0.19 1.13 0.40 -18 -23
Repurchase of Common Equity		 - 0.00 - - -38 -2.69 - - - -8.80 -24
Other Financing Activities, net		 0.92 0.01 - - 0.44 0.00 0.19 1.13 0.40 -9.46 0.54
Effect of Exchange Rate Changes		 - - - - - 0.00 - - - -0.02 -0.06

Annual Balance Sheets for FIGS

This table presents FIGS's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 134 312 395 473 510 580
Total Current Assets		 120 293 357 386 383 447
Cash & Equivalents		 58 195 160 144 86 82
Short-Term Investments		 - - 0.00 103 159 219
Accounts Receivable		 5.78 2.44 6.87 7.47 8.63 6.27
Inventories, net		 50 86 178 119 116 128
Prepaid Expenses		 6.67 7.40 12 12 13 12
Plant, Property, & Equipment, net		 6.53 7.61 11 25 35 34
Total Noncurrent Assets		 7.01 11 28 63 92 99
Long-Term Investments		 - - - 0.00 28 28
Noncurrent Deferred & Refundable Income Taxes		 6.51 10 11 18 12 12
Other Noncurrent Operating Assets		 0.51 0.56 17 44 53 59
Total Liabilities & Shareholders' Equity		 134 312 395 473 510 580
Total Liabilities		 36 66 87 96 133 143
Total Current Liabilities		 33 62 71 57 90 91
Accounts Payable		 12 15 21 15 9.40 18
Accrued Expenses		 6.68 25 26 7.91 42 21
Customer Deposits		 - 2.76 3.46 2.99 3.87 4.17
Current Deferred Revenue		 1.78 0.60 2.79 2.16 4.61 3.99
Current Deferred & Payable Income Tax Liabilities		 0.11 3.97 0.00 2.56 0.35 1.89
Current Employee Benefit Liabilities		 4.21 6.46 3.42 7.31 5.69 17
Other Taxes Payable		 3.08 3.73 3.37 3.15 3.71 4.27
Other Current Liabilities		 4.70 5.59 11 16 20 20
Total Noncurrent Liabilities		 3.66 3.79 16 39 43 52
Other Noncurrent Operating Liabilities		 - 0.24 16 39 43 52
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 98 246 308 377 377 437
Total Preferred & Common Equity		 98 246 308 377 377 437
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 98 246 308 377 377 437
Common Stock		 70 228 269 315 313 339
Retained Earnings		 27 18 39 62 64 99
Accumulated Other Comprehensive Income / (Loss)		 - - 0.00 0.01 0.02 0.20

Quarterly Balance Sheets for FIGS

This table presents FIGS's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 388 411 442 511 526 542 522 517 545 563 583
Total Current Assets		 350 369 395 406 417 434 400 394 418 432 453
Cash & Equivalents		 156 147 183 155 132 124 90 51 46 74 109
Short-Term Investments		 - 39 49 104 137 158 161 188 195 203 188
Accounts Receivable		 3.78 6.27 6.32 5.41 13 10 6.55 9.13 12 5.24 23
Inventories, net		 180 168 143 130 119 123 132 136 151 139 120
Prepaid Expenses		 9.58 9.85 13 11 17 19 10 10 13 11 14
Plant, Property, & Equipment, net		 11 11 16 28 35 35 34 33 34 33 33
Total Noncurrent Assets		 27 30 30 77 74 73 88 90 93 98 96
Long-Term Investments		 - - - - - - 28 28 28 28 28
Noncurrent Deferred & Refundable Income Taxes		 11 12 13 18 16 18 11 12 13 12 12
Other Noncurrent Operating Assets		 16 18 18 59 57 55 50 51 52 58 56
Total Liabilities & Shareholders' Equity		 388 411 442 511 526 542 522 517 545 563 583
Total Liabilities		 68 74 87 121 124 139 141 121 131 133 140
Total Current Liabilities		 53 57 70 72 77 95 101 78 87 80 91
Accounts Payable		 8.57 12 15 22 20 27 11 19 5.35 7.78 9.06
Accrued Expenses		 21 18 16 17 22 29 54 22 34 36 40
Customer Deposits		 3.50 3.31 2.64 2.71 3.51 4.63 3.70 3.00 3.22 3.96 4.08
Current Deferred Revenue		 0.71 0.78 3.34 1.88 2.83 3.88 1.96 3.00 8.31 1.70 1.74
Current Deferred & Payable Income Tax Liabilities		 0.38 3.29 9.67 3.81 1.64 0.35 0.62 0.65 0.00 1.30 1.02
Current Employee Benefit Liabilities		 3.65 4.37 6.68 4.33 4.10 5.41 5.07 7.38 12 4.85 11
Other Taxes Payable		 3.71 2.95 4.05 3.39 3.22 4.25 3.76 3.50 3.73 4.93 3.91
Other Current Liabilities		 11 12 13 17 20 20 21 20 19 20 21
Total Noncurrent Liabilities		 15 17 16 49 48 44 40 42 45 53 49
Other Noncurrent Operating Liabilities		 15 17 16 49 48 44 40 42 45 53 49
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 320 337 355 390 402 404 382 397 413 431 442
Total Preferred & Common Equity		 320 337 355 390 402 404 382 397 413 431 442
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 320 337 355 390 402 404 382 397 413 431 442
Common Stock		 279 291 303 327 337 341 317 325 333 326 309
Retained Earnings		 41 46 52 63 64 63 64 71 80 105 133
Accumulated Other Comprehensive Income / (Loss)		 - -0.01 -0.00 -0.03 -0.05 0.22 -0.02 0.07 0.16 -0.10 -0.24

Annual Metrics And Ratios for FIGS

This table displays calculated financial ratios and metrics derived from FIGS's official financial filings.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - 164,498,699.00
DEI Adjusted Shares Outstanding		 - - - - - - 164,498,699.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - 0.21
Growth Metrics		 - - - - - - -
Revenue Growth		 0.00% 138.12% 59.47% 20.55% 7.87% 1.82% 13.60%
EBITDA Growth		 0.00% 9,261.84% -80.43% 237.99% 2.30% -75.42% 385.03%
EBIT Growth		 0.00% 51,632.14% -82.57% 266.60% -8.07% -90.90% 1,141.41%
NOPAT Growth		 0.00% 14,405.90% -121.44% 293.56% -8.35% -97.73% 6,342.09%
Net Income Growth		 0.00% 44,326.79% -119.21% 321.70% 6.85% -87.98% 1,159.19%
EPS Growth		 0.00% 0.00% -120.00% 283.33% 9.09% -83.33% 850.00%
Operating Cash Flow Growth		 0.00% 233.00% 205.49% -153.18% 385.64% -19.57% -24.63%
Free Cash Flow Firm Growth		 0.00% 0.00% -290.59% -311.63% 146.32% -28.87% -10.80%
Invested Capital Growth		 0.00% 0.00% 21.75% 207.34% -12.04% -19.72% 4.21%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 3.31% 0.00% 1.26% 8.62%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% -25.87% 58.18% -26.08% 26.97%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% -27.19% 51.80% -59.16% 32.24%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -31.45% 42.65% -90.36% 112.58%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% -30.29% 41.23% -74.90% 94.29%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -45.00% 71.43% -71.43% 90.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 29.60% -36.15% 18.45% 14.29% 99.52%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 35.87% 353.87% 351.74%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 8.11% 5.74% -14.22% -24.43%
Profitability Metrics		 - - - - - - -
Gross Margin		 71.80% 72.30% 71.79% 70.07% 69.09% 67.61% 66.53%
EBITDA Margin		 0.57% 22.38% 2.75% 7.70% 7.30% 1.76% 7.53%
Operating Margin		 -0.31% 22.02% 2.62% 7.45% 6.24% 0.41% 6.04%
EBIT Margin		 0.10% 22.02% 2.41% 7.32% 6.24% 0.56% 6.09%
Profit (Net Income) Margin		 0.10% 18.91% -2.28% 4.19% 4.15% 0.49% 5.43%
Tax Burden Percent		 100.00% 85.68% -96.93% 54.71% 55.47% 18.97% 72.55%
Interest Burden Percent		 100.00% 100.23% 97.63% 104.61% 119.91% 462.88% 122.75%
Effective Tax Rate		 0.00% 14.32% 196.93% 45.29% 44.53% 81.03% 27.45%
Return on Invested Capital (ROIC)		 0.00% 251.07% -24.28% 21.01% 13.58% 0.37% 25.94%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 250.67% -25.13% 20.69% 11.74% -0.52% 23.76%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -149.19% 18.71% -13.36% -6.97% 0.36% -17.53%
Return on Equity (ROE)		 0.00% 101.88% -5.57% 7.66% 6.61% 0.72% 8.41%
Cash Return on Invested Capital (CROIC)		 0.00% 51.07% -43.89% -80.79% 26.39% 22.25% 21.82%
Operating Return on Assets (OROA)		 0.00% 43.29% 4.53% 10.47% 7.84% 0.63% 7.06%
Return on Assets (ROA)		 0.00% 37.17% -4.29% 5.99% 5.21% 0.55% 6.29%
Return on Common Equity (ROCE)		 0.00% 101.87% -5.57% 7.66% 6.61% 0.72% 8.41%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 50.94% -3.89% 6.88% 6.01% 0.72% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.35 50 -11 21 19 0.43 28
NOPAT Margin		 -0.31% 18.87% -2.54% 4.07% 3.46% 0.08% 4.39%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.40% 0.85% 0.33% 1.85% 0.88% 2.19%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 6.70% 5.01% 0.11% 6.33%
Cost of Revenue to Revenue		 28.20% 27.70% 28.21% 29.93% 30.91% 32.39% 33.47%
SG&A Expenses to Revenue		 42.07% 35.51% 55.18% 47.27% 48.72% 51.26% 45.73%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 72.12% 50.28% 69.17% 62.63% 62.85% 67.20% 60.48%
Earnings before Interest and Taxes (EBIT)		 0.11 58 10 37 34 3.10 38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 0.63 59 12 39 40 9.79 47
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 0.00 5.94 18.34 3.63 3.12 2.79 4.27
Price to Tangible Book Value (P/TBV)		 0.00 5.94 18.34 3.63 3.12 2.79 4.27
Price to Revenue (P/Rev)		 5.25 2.21 10.74 2.21 2.15 1.89 2.96
Price to Earnings (P/E)		 5,183.04 11.67 0.00 52.72 51.93 386.44 54.56
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.02% 8.57% 0.00% 1.90% 1.93% 0.26% 1.83%
Enterprise Value to Invested Capital (EV/IC)		 0.00 13.21 89.47 6.47 7.14 7.45 14.15
Enterprise Value to Revenue (EV/Rev)		 0.00 1.99 10.27 1.89 1.70 1.40 2.44
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 8.87 373.85 24.58 23.31 79.50 32.43
Enterprise Value to EBIT (EV/EBIT)		 0.00 9.02 426.57 25.86 27.29 251.28 40.05
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 10.52 0.00 46.45 49.18 1,812.00 55.65
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 24.02 64.84 0.00 9.20 9.59 25.18
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 51.73 0.00 0.00 25.31 29.83 66.15
Leverage & Solvency		 - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 -0.60 -0.74 -0.65 -0.59 -0.69 -0.74
Leverage Ratio		 0.00 1.37 1.30 1.28 1.27 1.30 1.34
Compound Leverage Factor		 0.00 1.37 1.27 1.34 1.52 6.03 1.64
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 99.98% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 14.10 43.27 10.27 9.73 6.73 10.15
Noncontrolling Interest Sharing Ratio		 0.00% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - -
Current Ratio		 0.00 3.70 4.70 4.99 6.73 4.25 4.94
Quick Ratio		 0.00 1.97 3.17 2.33 4.44 2.81 3.39
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 10 -19 -79 37 26 23
Operating Cash Flow to CapEx		 137.18% 961.45% 2,449.74% -660.60% 617.29% 476.83% 748.90%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -80.52 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 277.98 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 266.63 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.00 1.97 1.88 1.43 1.26 1.13 1.16
Accounts Receivable Turnover		 0.00 45.52 102.08 108.70 76.13 69.04 84.73
Inventory Turnover		 0.00 1.47 1.74 1.15 1.14 1.53 1.73
Fixed Asset Turnover		 0.00 40.30 59.34 54.28 30.41 18.48 18.24
Accounts Payable Turnover		 0.00 6.09 8.91 8.53 9.46 14.90 15.32
Days Sales Outstanding (DSO)		 0.00 8.02 3.58 3.36 4.79 5.29 4.31
Days Inventory Outstanding (DIO)		 0.00 249.06 209.38 318.34 321.34 238.15 210.55
Days Payable Outstanding (DPO)		 0.00 59.92 40.96 42.81 38.58 24.49 23.83
Cash Conversion Cycle (CCC)		 0.00 197.16 171.99 278.88 287.56 218.94 191.02
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 0.00 40 48 148 130 104 109
Invested Capital Turnover		 0.00 13.31 9.57 5.16 3.92 4.74 5.92
Increase / (Decrease) in Invested Capital		 0.00 40 8.60 100 -18 -26 4.40
Enterprise Value (EV)		 0.00 522 4,307 957 929 778 1,540
Market Capitalization		 580 580 4,505 1,117 1,175 1,051 1,869
Book Value per Share		 $0.00 $0.64 $1.50 $1.85 $2.23 $2.22 $2.66
Tangible Book Value per Share		 $0.00 $0.64 $1.50 $1.85 $2.23 $2.22 $2.66
Total Capital		 0.00 98 246 308 377 377 437
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 -58 -197 -160 -247 -273 -329
Capital Expenditures (CapEx)		 4.76 2.26 2.71 5.35 16 17 8.17
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 30 34 125 82 48 56
Debt-free Net Working Capital (DFNWC)		 0.00 88 231 285 328 293 357
Net Working Capital (NWC)		 0.00 88 231 285 328 293 357
Net Nonoperating Expense (NNE)		 -0.46 -0.12 -1.09 -0.58 -3.75 -2.29 -6.57
Net Nonoperating Obligations (NNO)		 0.00 -58 -197 -160 -247 -273 -329
Total Depreciation and Amortization (D&A)		 0.52 0.95 1.42 1.92 5.81 6.69 9.04
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 11.27% 7.99% 24.78% 14.97% 8.55% 8.86%
Debt-free Net Working Capital to Revenue		 0.00% 33.37% 55.04% 56.36% 60.18% 52.67% 56.53%
Net Working Capital to Revenue		 0.00% 33.37% 55.04% 56.36% 60.18% 52.67% 56.53%
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($0.06) $0.13 $0.13 $0.02 $0.21
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 159.18M 165.27M 168.07M 169.20M 163.46M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($0.06) $0.11 $0.12 $0.02 $0.19
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 159.18M 187.55M 182.41M 180.10M 179.49M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 164.27M 166.59M 169.91M 162.52M 166.38M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.24 50 7.69 21 19 1.59 28
Normalized NOPAT Margin		 -0.22% 18.87% 1.83% 4.07% 3.46% 0.29% 4.39%
Pre Tax Income Margin		 0.10% 22.07% 2.35% 7.66% 7.48% 2.58% 7.48%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 0.00 0.00 42.25 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 -44.54 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 30.90 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 -55.89 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -8.16% 0.00% 0.00% 1,671.10% 7.85%

Quarterly Metrics And Ratios for FIGS

This table displays calculated financial ratios and metrics derived from FIGS's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 164,498,699.00 166,377,122.00 167,047,253.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 164,498,699.00 166,377,122.00 167,047,253.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 0.11 0.04 0.17
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.01% -0.78% 4.41% -1.51% 4.77% 4.70% 5.83% 8.17% 32.97% 28.02% 28.81%
EBITDA Growth		 362.77% -67.56% -63.35% -153.64% -22.97% 39.28% 352.55% 308.46% 87.07% 326.25% 207.56%
EBIT Growth		 444.43% -86.86% -76.33% -186.72% -31.54% -148.96% 538.25% 211.79% 96.27% 2,083.96% 250.44%
NOPAT Growth		 183.66% -86.55% -89.53% -216.99% -84.28% -94.04% 1,401.05% 216.66% 1,103.00% 37,781.14% 363.78%
Net Income Growth		 194.90% -24.83% -75.99% -127.66% -81.15% -107.11% 545.36% 614.47% 881.80% 6,264.71% 299.76%
EPS Growth		 500.00% 0.00% -50.00% -133.33% -83.33% -100.00% 300.00% 600.00% 900.00% 0.00% 275.00%
Operating Cash Flow Growth		 345.25% 503.30% -43.75% -58.27% 50.07% -20.52% -175.16% -84.78% 100.32% -134.69% 476.97%
Free Cash Flow Firm Growth		 127.31% 138.00% 147.07% -125.07% 2.26% -16.81% -51.79% -220.77% -55.95% -167.25% 327.24%
Invested Capital Growth		 -12.04% -20.46% -12.15% -1.05% -19.72% -21.51% -2.42% 18.28% 4.21% 22.70% -8.94%
Revenue Q/Q Growth		 1.79% -17.68% 20.90% -2.78% 8.29% -17.74% 22.21% -0.64% 33.12% -20.80% 22.96%
EBITDA Q/Q Growth		 40.51% -91.86% 107.79% -315.38% 301.76% -84.57% 575.15% -0.79% 81.05% -64.85% 387.16%
EBIT Q/Q Growth		 43.00% -96.96% 258.66% -655.51% 212.89% -102.18% 4,775.47% -2.70% 98.21% -78.00% 725.87%
NOPAT Q/Q Growth		 66.94% -97.75% 101.10% -1,649.76% 122.43% -99.15% 50,570.23% 20.44% 131.34% -73.17% 520.36%
Net Income Q/Q Growth		 62.71% -85.65% -23.34% -254.55% 210.88% -105.41% 7,059.80% 23.20% 111.61% -66.02% 351.32%
EPS Q/Q Growth		 100.00% -83.33% 0.00% -200.00% 200.00% -100.00% 0.00% 25.00% 100.00% -70.00% 400.00%
Operating Cash Flow Q/Q Growth		 -62.55% -42.67% 42.34% 36.57% 34.66% -69.64% -234.60% 127.65% 1,672.71% -105.26% 1,562.45%
Free Cash Flow Firm Q/Q Growth		 39.60% 27.92% -44.36% -125.23% 669.53% 4.06% -67.75% -267.83% 178.22% -258.85% 304.87%
Invested Capital Q/Q Growth		 5.74% 0.42% 1.89% -8.54% -14.22% -1.81% 26.68% 10.86% -24.43% 15.61% -5.99%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 67.53% 68.85% 67.44% 67.06% 67.31% 67.62% 66.99% 69.94% 62.94% 67.73% 75.20%
EBITDA Margin		 10.38% 1.08% 1.85% -4.10% 7.63% 1.43% 7.90% 7.89% 10.73% 4.76% 18.87%
Operating Margin		 9.82% 0.37% 1.08% -6.15% 5.86% -0.17% 6.50% 6.35% 9.32% 2.80% 17.93%
EBIT Margin		 9.82% 0.36% 1.08% -6.15% 6.41% -0.17% 6.49% 6.36% 9.47% 2.63% 17.67%
Profit (Net Income) Margin		 6.90% 1.20% 0.76% -1.21% 1.24% -0.08% 4.65% 5.77% 9.17% 3.93% 14.43%
Tax Burden Percent		 60.58% 43.75% 25.10% 29.82% 15.23% -5.47% 59.01% 73.13% 86.67% 97.56% 76.95%
Interest Burden Percent		 116.03% 757.51% 282.23% 66.08% 127.10% -879.25% 121.38% 124.00% 111.71% 153.23% 106.18%
Effective Tax Rate		 39.42% 56.25% 74.90% 0.00% 84.77% 105.47% 40.99% 26.87% 13.33% 2.44% 23.05%
Return on Invested Capital (ROIC)		 23.34% 0.60% 1.05% -19.30% 4.23% 0.04% 16.59% 20.31% 47.76% 15.95% 78.93%
ROIC Less NNEP Spread (ROIC-NNEP)		 22.66% 0.00% 0.73% -20.99% 4.02% 0.09% 16.13% 19.69% 47.03% 15.29% 78.51%
Return on Net Nonoperating Assets (RNNOA)		 -13.45% 0.00% -0.45% 14.22% -2.77% -0.06% -10.81% -13.28% -34.71% -10.99% -55.27%
Return on Equity (ROE)		 9.88% 0.60% 0.60% -5.09% 1.46% -0.02% 5.78% 7.03% 13.05% 4.96% 23.66%
Cash Return on Invested Capital (CROIC)		 26.39% 34.59% 22.47% 4.70% 22.25% 24.23% 5.09% -6.96% 21.82% 9.04% 53.73%
Operating Return on Assets (OROA)		 12.34% 0.44% 1.27% -6.86% 7.25% -0.18% 7.09% 6.80% 10.97% 3.23% 22.81%
Return on Assets (ROA)		 8.67% 1.46% 0.90% -1.35% 1.40% -0.09% 5.08% 6.16% 10.62% 4.83% 18.64%
Return on Common Equity (ROCE)		 9.88% 0.60% 0.60% -5.09% 1.46% -0.02% 5.78% 7.03% 13.05% 4.96% 23.66%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 5.68% 4.65% 2.69% 0.00% 0.31% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 8.62 0.19 0.39 -6.04 1.36 0.01 5.85 7.05 16 4.37 27
NOPAT Margin		 5.95% 0.16% 0.27% -4.31% 0.89% 0.01% 3.83% 4.65% 8.07% 2.74% 13.80%
Net Nonoperating Expense Percent (NNEP)		 0.68% 0.60% 0.31% 1.69% 0.20% -0.04% 0.47% 0.62% 0.73% 0.66% 0.42%
Return On Investment Capital (ROIC_SIMPLE)		 2.29% - - - 0.36% 0.00% 1.48% 1.70% 3.73% 1.02% 6.13%
Cost of Revenue to Revenue		 32.47% 31.15% 32.56% 32.94% 32.69% 32.38% 33.01% 30.06% 37.06% 32.27% 24.80%
SG&A Expenses to Revenue		 43.82% 54.03% 50.41% 52.87% 48.41% 53.25% 45.32% 48.11% 39.59% 46.48% 42.76%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 57.71% 68.48% 66.36% 73.22% 61.45% 67.79% 60.49% 63.58% 53.62% 64.92% 57.26%
Earnings before Interest and Taxes (EBIT)		 14 0.43 1.55 -8.63 9.74 -0.21 9.91 9.64 19 4.21 35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 15 1.28 2.67 -5.74 12 1.79 12 12 22 7.62 37
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.12 2.17 2.26 2.90 2.79 1.96 2.31 2.64 4.27 5.71 3.86
Price to Tangible Book Value (P/TBV)		 3.12 2.17 2.26 2.90 2.79 1.96 2.31 2.64 4.27 5.71 3.86
Price to Revenue (P/Rev)		 2.15 1.55 1.65 2.13 1.89 1.33 1.61 1.88 2.96 3.69 2.41
Price to Earnings (P/E)		 51.93 38.18 48.57 107.86 386.44 630.57 127.65 61.96 54.56 60.47 27.60
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.93% 2.62% 2.06% 0.93% 0.26% 0.16% 0.78% 1.61% 1.83% 1.65% 3.62%
Enterprise Value to Invested Capital (EV/IC)		 7.14 4.49 4.80 7.28 7.45 4.55 5.00 5.71 14.15 17.10 11.70
Enterprise Value to Revenue (EV/Rev)		 1.70 1.08 1.16 1.62 1.40 0.83 1.14 1.42 2.44 3.23 1.95
Enterprise Value to EBITDA (EV/EBITDA)		 23.31 17.11 21.51 66.96 79.50 45.36 33.01 22.00 32.43 40.37 17.67
Enterprise Value to EBIT (EV/EBIT)		 27.29 18.83 24.42 116.94 251.28 190.39 60.14 28.30 40.05 50.20 20.46
Enterprise Value to NOPAT (EV/NOPAT)		 49.18 33.73 47.05 199.07 1,812.00 3,167.04 186.75 63.22 55.65 64.03 25.14
Enterprise Value to Operating Cash Flow (EV/OCF)		 9.20 5.09 6.23 12.49 9.59 5.93 13.05 26.85 25.18 44.17 12.82
Enterprise Value to Free Cash Flow (EV/FCFF)		 25.31 11.51 19.96 154.24 29.83 16.53 97.04 0.00 66.15 208.35 20.76
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.59 -0.58 -0.61 -0.68 -0.69 -0.70 -0.67 -0.67 -0.74 -0.72 -0.70
Leverage Ratio		 1.27 1.27 1.27 1.30 1.30 1.34 1.31 1.33 1.34 1.34 1.31
Compound Leverage Factor		 1.47 9.59 3.58 0.86 1.66 -11.78 1.59 1.65 1.49 2.05 1.39
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 9.59 6.22 6.38 6.92 6.77 5.11 6.65 7.05 10.04 13.32 9.79
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 6.73 5.65 5.45 4.58 4.25 3.96 5.02 4.82 4.94 5.39 4.96
Quick Ratio		 4.44 3.68 3.67 3.08 2.81 2.55 3.16 2.93 3.39 3.52 3.50
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 26 34 19 -4.75 27 28 9.07 -15 12 -19 39
Operating Cash Flow to CapEx		 306.39% 2,342.54% 183.91% 541.81% 904.43% 704.96% -1,141.41% 118.27% 2,128.12% -132.18% 1,800.81%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.26 1.21 1.18 1.11 1.13 1.09 1.09 1.07 1.16 1.23 1.29
Accounts Receivable Turnover		 76.13 118.49 58.02 65.26 69.04 93.79 52.15 51.15 84.73 112.96 43.81
Inventory Turnover		 1.14 1.10 1.23 1.33 1.53 1.40 1.47 1.36 1.73 1.64 1.73
Fixed Asset Turnover		 30.41 27.72 23.61 21.22 18.48 18.05 16.66 16.85 18.24 19.81 21.35
Accounts Payable Turnover		 9.46 11.13 11.06 8.36 14.90 11.12 9.59 11.36 15.32 24.03 15.72
Days Sales Outstanding (DSO)		 4.79 3.08 6.29 5.59 5.29 3.89 7.00 7.14 4.31 3.23 8.33
Days Inventory Outstanding (DIO)		 321.34 331.20 297.46 274.31 238.15 261.01 249.15 269.37 210.55 222.33 210.85
Days Payable Outstanding (DPO)		 38.58 32.80 32.99 43.64 24.49 32.82 38.07 32.12 23.83 15.19 23.22
Cash Conversion Cycle (CCC)		 287.56 301.47 270.76 236.26 218.94 232.08 218.08 244.38 191.02 210.37 195.96
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 130 131 133 122 104 103 130 144 109 126 118
Invested Capital Turnover		 3.92 3.69 3.87 4.48 4.74 4.81 4.33 4.37 5.92 5.83 5.72
Increase / (Decrease) in Invested Capital		 -18 -34 -18 -1.30 -26 -28 -3.22 22 4.40 23 -12
Enterprise Value (EV)		 929 587 639 887 778 467 650 823 1,540 2,153 1,385
Market Capitalization		 1,175 846 907 1,169 1,051 746 917 1,092 1,869 2,457 1,709
Book Value per Share		 $2.23 $2.29 $2.36 $2.36 $2.22 $2.35 $2.44 $2.53 $2.66 $2.59 $2.65
Tangible Book Value per Share		 $2.23 $2.29 $2.36 $2.36 $2.22 $2.35 $2.44 $2.53 $2.66 $2.59 $2.65
Total Capital		 377 390 402 404 377 382 397 413 437 431 442
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -247 -259 -269 -282 -273 -279 -267 -269 -329 -305 -324
Capital Expenditures (CapEx)		 6.62 0.50 8.99 4.17 3.36 1.31 1.09 2.91 2.86 2.42 2.60
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 82 75 72 58 48 48 76 90 56 75 65
Debt-free Net Working Capital (DFNWC)		 328 334 341 340 293 299 315 331 357 352 362
Net Working Capital (NWC)		 328 334 341 340 293 299 315 331 357 352 362
Net Nonoperating Expense (NNE)		 -1.38 -1.24 -0.71 -4.34 -0.53 0.11 -1.25 -1.70 -2.21 -1.91 -1.25
Net Nonoperating Obligations (NNO)		 -247 -259 -269 -282 -273 -279 -267 -269 -329 -305 -324
Total Depreciation and Amortization (D&A)		 0.81 0.85 1.11 2.89 1.85 2.00 2.15 2.33 2.56 3.41 2.37
Debt-free, Cash-free Net Working Capital to Revenue		 14.97% 13.69% 13.09% 10.54% 8.55% 8.47% 13.41% 15.46% 8.86% 11.25% 9.19%
Debt-free Net Working Capital to Revenue		 60.18% 61.27% 61.84% 61.89% 52.67% 53.24% 55.35% 57.03% 56.53% 52.84% 50.92%
Net Working Capital to Revenue		 60.18% 61.27% 61.84% 61.89% 52.67% 53.24% 55.35% 57.03% 56.53% 52.84% 50.92%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.05 $0.01 $0.01 ($0.01) $0.01 $0.00 $0.04 $0.05 $0.12 $0.04 $0.17
Adjusted Weighted Average Basic Shares Outstanding		 168.07M 169.92M 170.39M 170.17M 169.20M 162.47M 162.68M 163.67M 163.46M 166.46M 166.47M
Adjusted Diluted Earnings per Share		 $0.06 $0.01 $0.01 ($0.01) $0.01 $0.00 $0.04 $0.05 $0.10 $0.03 $0.15
Adjusted Weighted Average Diluted Shares Outstanding		 182.41M 180.70M 179.69M 170.17M 180.10M 162.47M 172.93M 180.88M 179.49M 196.09M 195.14M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 169.91M 170.23M 170.86M 169.81M 162.52M 162.55M 163.27M 164.50M 166.38M 167.05M 166.14M
Normalized Net Operating Profit after Tax (NOPAT)		 8.62 0.31 1.09 -6.04 6.23 -0.15 5.85 7.05 16 4.37 27
Normalized NOPAT Margin		 5.95% 0.26% 0.75% -4.31% 4.10% -0.12% 3.83% 4.65% 8.07% 2.74% 13.80%
Pre Tax Income Margin		 11.39% 2.75% 3.04% -4.07% 8.15% 1.49% 7.88% 7.89% 10.58% 4.03% 18.76%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 67.16% 1,671.10% 4,069.48% 670.31% 231.82% 7.85% 21.65% 53.00%

Financials Breakdown Chart

Key Financial Trends

FIGS showed a meaningful improvement in profitability and cash generation in Q1 2026 compared with the prior year, but the quarter also came with weaker operating cash flow and a continued decline in liquidity versus earlier periods.

Revenue in Q1 2026 rose to $159.9 million, up from $124.9 million in Q1 2025 and $119.3 million in Q1 2024. Gross profit also improved to $108.3 million, and FIGS produced $6.3 million in net income, a solid rebound from the $102 thousand loss in Q1 2025 and the $1.4 million profit in Q1 2024. Operating margin remained positive, though still modest, at about 2.8% of revenue in the latest quarter.

At the same time, cost pressure remains visible. In Q1 2026, operating expenses totaled $103.8 million, which consumed nearly all gross profit and left only $4.5 million of operating income. That is an improvement from the $211 thousand operating loss in Q1 2025, but it also shows that the business is still operating with a thin cushion at the operating level.

Cash flow was the biggest weakness in the quarter. FIGS reported negative operating cash flow of $3.2 million in Q1 2026, compared with positive $9.2 million in Q1 2025 and positive $11.6 million in Q1 2024. After investments, financing, and other items, cash and equivalents fell by $7.7 million during the quarter. This is not a major red flag by itself, but it is a reminder that accounting profits are not yet consistently translating into cash.

The balance sheet still looks conservative. As of March 31, 2026, FIGS held $74.3 million in cash, $202.7 million in short-term investments, and $27.7 million in long-term investments, giving it a large liquidity cushion relative to $132.8 million in total liabilities. Total equity was $430.6 million, so the company remains well capitalized.

However, the liquidity profile has changed materially over the last two years. FIGS’ cash and equivalents were $155.3 million in Q1 2024 and $90.0 million in Q1 2025, so the current cash balance is lower than both of those periods. Inventory also remains a major asset, at $139.4 million, which investors may want to watch closely for signs of working-capital buildup.

Key takeaways for investors:

  • Revenue growth accelerated in Q1 2026 versus the prior year, showing the top line is expanding again.
  • Net income improved sharply year over year, with Q1 2026 profit of $6.3 million versus a small loss in Q1 2025.
  • Gross profit of $108.3 million indicates FIGS continues to maintain healthy gross economics.
  • The balance sheet remains strong, with substantial investments and more equity than liabilities.
  • Operating margins are positive but still thin, so small changes in expenses can swing profitability.
  • Inventory remains elevated, which is normal for apparel but worth monitoring for efficiency.
  • Operating cash flow turned negative in Q1 2026, a weaker signal than reported earnings.
  • Cash and equivalents have trended down from 2024 levels, reducing immediate liquidity.
  • Operating expenses are still consuming most of gross profit, limiting earnings leverage.
  • The company continues to repurchase stock and use cash, which can pressure liquidity when operating cash flow is weak.

Bottom line: FIGS appears to be regaining profitability and growing revenue, which is encouraging. But the company is not yet consistently generating operating cash flow, and its cash balance has come down over time. For retail investors, that makes FIGS look like a business with improving earnings power, but one that still needs to prove it can convert those profits into durable cash generation.

08/23/26 04:40 PM ETAI Generated. May Contain Errors.

FIGS Financials - Frequently Asked Questions

According to the most recent income statement we have on file, FIGS's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

FIGS's net income appears to be on an upward trend, with a most recent value of $34.25 million in 2025, rising from $112 thousand in 2019. The previous period was $2.72 million in 2024. View FIGS's forecast to see where analysts expect FIGS to go next.

FIGS's total operating income in 2025 was $38.15 million, based on the following breakdown:
  • Total Gross Profit: $419.84 million
  • Total Operating Expenses: $381.69 million

Over the last 6 years, FIGS's total revenue changed from $110.49 million in 2019 to $631.10 million in 2025, a change of 471.2%.

FIGS's total liabilities were at $142.53 million at the end of 2025, a 7.4% increase from 2024, and a 294.0% increase since 2020.

In the past 5 years, FIGS's cash and equivalents has ranged from $58.13 million in 2020 to $195.37 million in 2021, and is currently $81.99 million as of their latest financial filing in 2025.

Over the last 6 years, FIGS's book value per share changed from 0.00 in 2019 to 2.66 in 2025, a change of 265.9%.


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Financial statements for NYSE:FIGS last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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