| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 23 | 38.1x | 17.8x | Bottom tier | |
Growth | 88 | 24.7% | 7.1% | Top tier | |
Quality | 88 | 11.2% | 4.5% | Top tier | |
Safety | 86 | — | 2.6x | Top tier | |
Capital Return | 42 | — | 2.12% | Around median | |
Momentum | 65 | 105.6% | 2.9% | Around median | |
Sentiment | 76 | 7 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
FIGS, Inc. is a specialty apparel company serving healthcare professionals, generating revenue primarily from the sale of medical scrubs and an integrated ecosystem that includes undergarments, lab coats, outerwear, footwear, compression socks, and accessories. Medical scrubs represented 82% of net revenue in fiscal 2026 Q2, while other products represented 18%; the purchase cycle is driven by the recurring need to replace professional uniforms, supported by digital sales, the institutional TEAMS channel, Community Hubs stores, and international expansion.
In fiscal 2026 Q2, net revenue increased 29% year over year to $196.6 million, exceeding the company’s expectation for growth in the low twenties percentage range. The medical scrubs business grew 27%, and other products grew 40%, while U.S. revenue increased 22% to $158.7 million and international revenue rose 67% to $37.9 million. The number of active customers reached 3.1 million, up 13%, average order value increased 9% to a record $127, and trailing 12-month revenue per active customer also reached a record $229.
Gross margin was 75.2% in fiscal 2026 Q2, up 820 basis points, but 780 basis points of the improvement were related to a cumulative $15.4 million impact from tariff refunds. Net income was $28.4 million, or $0.15 per diluted share, compared with $7.1 million and $0.04, respectively, a year earlier, while adjusted EBITDA margin was 18.6% versus 12.9%. The company ended the quarter with net cash, cash equivalents, and short-term investments of $296.3 million, while inventory declined 12% to $119.6 million.
Automated analysis for informational purposes only — not investment advice.
Analyst consensus rates FIGS shares a “Buy,” with an average target of $18 and a range of $16 to $20. The average target is approximately 3% above the 52-week range high of $17.48, while the highest target is approximately 14% above it, and the lowest target falls within the 52-week range of $6.495–$17.48. The provided data does not include a published earnings multiple, so the stock’s valuation depends on achieving fiscal 2026 growth of approximately 20% and sustaining margins after separating the impact of tariff refunds and supply chain risks in Jordan.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
Net revenue was $196.6 million, up 29% year over year and exceeding the company’s expectation for growth in the low twenties percentage range. Gross margin reached 75.2%, but 780 basis points of the improvement were related to $15.4 million in tariff refunds. Net income was $28.4 million and diluted earnings per share were $0.15, compared with $7.1 million and $0.04 a year earlier. Adjusted EBITDA margin was 18.6%, compared with 12.9% in the comparable quarter.
The number of active customers grew 13% to 3.1 million in fiscal 2026 Q2, and average order value increased 9% to $127. Trailing 12-month revenue per active customer also reached a record $229, supported by higher purchase frequency and lower discounts and returns. Medical scrubs grew 27%, while other products increased 40% and included undergarments, outerwear, and accessories. Based on this performance, the company raised its fiscal 2026 revenue growth outlook to approximately 20%.
International revenue increased 67% to $37.9 million in fiscal 2026 Q2, compared with U.S. growth of 22% to $158.7 million. FIGS operates in 85 international markets after adding 27 markets since the beginning of fiscal 2026, and more than 50 percentage points of international growth came from existing markets. In the TEAMS channel, the company began working with Bupa Dental Care to outfit approximately 400 dental centers in the United Kingdom. International operations, TEAMS, and Community Hubs all generated record revenue during the quarter.
U.S. Customs and Border Protection issued a detention order preventing FIGS products from being imported into the United States from its partner in Jordan. Management said on the August 6, 2026 call that it leveraged the capabilities of existing suppliers and accelerated their production, mitigating the vast majority of the disruption’s impact. The plan includes using air freight for some products, which offsets part of the tariff benefits and raises costs. Nevertheless, the company raised its fiscal 2026 revenue and margin outlook, but expected Q3 inventory to remain down by a double-digit percentage year over year.
Gross margin increased 820 basis points to 75.2%, but 780 basis points came from the impact of cumulative tariff refunds totaling $15.4 million. The underlying portion also improved due to pricing, product costs, increased full-price selling, and lower returns, but the company expects gross margin to decline year over year in fiscal 2026 Q3. It also expects the Q4 margin to be the lowest of fiscal 2026 and the growth of lower-margin other products to limit long-term gross margin expansion. Nevertheless, the company raised its fiscal 2026 adjusted EBITDA margin outlook to a range of 14.8% to 15%, including the benefits of the refunds.
Analyst consensus is a “Buy,” with an average price target of $18 and a range of $16 to $20. The average target is approximately 3% above the 52-week range high of $17.48, while the highest target is approximately 14% above that high. The 52-week range extends from $6.495 to $17.48, and the provided data does not include a published earnings multiple. Therefore, achieving analysts’ targets depends heavily on delivering fiscal 2026 growth of approximately 20% and maintaining profitability after the impact of tariff refunds subsides.
