2 models fit FIGS Inc. Class A Common Stock and they agree: 2 of 2 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Large premium(i)Bronze56
Valued as a growth company: Discounted cash flow, P/E comparison, and EV/EBITDA comparison.
ACCE opinionFIGS Inc. Class A Common Stock (FIGS)
Fair value (2 models)
$5.88
ACCE price target
$20.50
Rating
Overvalued
Horizon
12 months
Fair value published on 19 Oct 2026, 18:04 CEST; previously $8.73 since 15 Oct 2026, 00:00 CEST.
ACCE price target published on 21 Oct 2026, 01:52 CEST; previously $15.80 since 11 Oct 2026, 00:00 CEST.
Rating published on 19 Oct 2026, 18:04 CEST.
Price used: $20.20 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
243.7% above
-70.9% to fair value
ACCE score
75
out of 100
Analysts
56% buy
9 covering
P/E
61.2x
forward 52.8x
1-year return
+144.0%
Dividend yield
0.00%
FIGS Inc. Class A Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
FIGS sells healthcare apparel (scrubs, compression wear, and lab coats) directly to clinicians through its own website and app, with a growing set of adjacent products such as its FIGS-branded sleepwear and wellness lines. The core advantage is its direct-to-consumer model built around a loyal professional customer base, which shows up in a 68.9% gross margin that is high for an apparel maker. Revenue growth of 28.8% is the main driver of the story, and the forward P/E of 31.5 against a trailing 59.2 implies the market expects earnings to catch up quickly with sales. At a $3.2B market cap with a 17.9% operating margin and 14.8% ROE, the question for us is whether margins can hold as growth moves beyond its core clinician audience, and that is worth a deeper look.