FIGS, Inc. (FIGS) Fair Value 2026

FIGS · Apparel Manufacturing ·

By CirclFi Research Team · Data from SEC EDGAR, FRED & GDELT

Quality Score

8.1 /10

32 fundamental signals · 10 models active

Value Trap Risk

SAFE (6/100)

Quick Summary — As of 2026-08-27, FIGS, Inc. (FIGS) trades at $15.10, versus a $3.71 median fair value across its 10 active models — 75.4% below the current price. QOC: 8.1/10. Value Trap Risk: 6/100 (SAFE). 10/13 models active. Within that set, the Bayesian DCF component alone returns $4.57.

Key Facts

Ticker
FIGS
Price
$15.10
Quality Score
8.1/10
Value Trap Risk
6/100
Models Active
10/13
Last Updated
Strength: Quality Score of 8.1/10 indicates strong fundamentals
Risk: Majority of models suggest overvaluation

Is FIGS, Inc. (FIGS) Undervalued or Overvalued in 2026?

According to CirclFi’s 10-model valuation engine, FIGS, Inc. (FIGS) appears overvalued as of : the median of 10 independent fair value estimates is $3.71, 75.4% below the current price of $15.10. Estimates range from $2.32 to $5.29. FIGS scores 8.1/10 on fundamental quality and 6/100 on value-trap risk.

For context, the median US equity CirclFi rates trades at an implied -23.7% versus its own 13-model consensus, across 3,801 rated companies as of 2026-08-27. FIGS’s -75.4% gap is wider than that market norm, and the Apparel Manufacturing sector median is -12.2%. Full market index →

This verdict compares price to intrinsic value only — it is not a buy or sell rating. For the decision case (bull vs bear arguments, risk factors, peers), read Should You Buy FIGS, Inc. Stock in 2026? →

What Fair Value Does Each Model Give FIGS?

10 Intrinsic Value Models vs. Current Price ($15.10)

Core Models (Unlocked)
Model Fair Value Upside
Intrinsic · High Conviction
 $4.57 -69.8%
Intrinsic · High Conviction
 $2.54 -83.2%
Ensemble · Medium Conviction
 $3.65 -75.9%
Scenario · High Conviction
 $3.78 -75.0%
Unlock the Full Matrix

Access 6 additional models including EROIC Spread, ML-RIV, and more.

$1.30 / day

Billed monthly ($39/mo) or annually ($299/yr)

Unlock All 10 Models →

Cancel anytime · No contracts · Instant access

What Is FIGS's Fair Value Range?

Spread across 10 independent models · $2.32 to $5.29

CirclFi's 10 active models place FIGS, Inc. (FIGS) between $2.32 and $5.29 per share, a spread of 80% of the median. The median of that range — $3.71 — is the fair value CirclFi publishes for FIGS, against a current price of $15.10.

Low · EROICHigh · Regime Cross
$2.32median $3.71$5.29
Where the range comes from
Most bearish modelEROIC Spread$2.32
Most bullish modelRegime Cross-Sectional$5.29
Model agreement0 bullish · 10 bearishmoderate

A band of this width is typical. The methods agree on direction but weight growth, reinvestment and risk differently, so treat the median as a centre of gravity rather than a precise target.

Every figure above is one model's standalone output on FIGS, not a CirclFi price target. How each model works →

What Is FIGS, Inc. (FIGS) Worth in 2026?

According to the CirclFi Deep Alpha Valuation Engine, FIGS, Inc.'s intrinsic value is estimated at $3.71, suggesting the stock is overvalued at its current price of $15.10. With 10 out of 10 models flagging downside (-75.4% vs price), the market may be pricing in unsustainable growth.

What Do the Models Say About FIGS?

10 of 13 models are currently active for FIGS. All 10 active models suggest the stock trades above fair value. Taken together, their median fair value for FIGS is $3.71 — the figure CirclFi publishes as this stock's fair value. One component of that median, the Bayesian DCF, returns $4.57 on its own, implying -69.8% downside from the current price. See which stocks rank higher →

How Does FIGS Rank in Apparel Manufacturing?

Among 25 Apparel Manufacturing stocks, FIGS ranks #5 by Quality of Company score. CirclFi's QOC score of 8.1/10 evaluates 32 fundamental signals. A score of 8.1 places FIGS in the top tier.

As a consumer sector, FIGS, Inc. operates in a sector where store traffic trends is a critical driver of valuation. Investors evaluating FIGS should weigh these sector-specific dynamics alongside our model-derived fair values.

Is FIGS a Value Trap?

CirclFi's Value Trap algorithm assigns FIGS a score of 6/100 (SAFE). This indicates minimal risk. Fundamentals are healthy. The score cross-references apparent undervaluation against fundamental deterioration signals. Browse lowest value-trap stocks →

Multi-Model Methodology

10 of 13 models are active for FIGS, Inc.. Broad coverage provides high confidence. Each model applies a fundamentally different valuation philosophy. See the complete methodology →

According to the CirclFi 32-factor quality framework, FIGS, Inc.'s fundamental quality profile registers 8.1/10. This robust score captures the company's profitability depth, growth consistency, balance sheet resilience, and shareholder return track record.

Models cluster within a tight range (+19.7% spread), increasing conviction. Browse all stocks with 13-model coverage →

Data Sources & Confidence

Every FIGS valuation is built from SEC EDGAR XBRL filings — 700+ standardized financial tags. Macroeconomic context from FRED calibrates discount rates, while GDELT news sentiment feeds into our Sentiment SOTP model. All pipelines run daily. Read the complete data methodology →

Across FIGS's 10 active models, average confidence is 47%. Lower confidence may reflect limited history or high volatility.

CirclFi's output is a research starting point, not a buy/sell signal. All data updates daily. Read the full methodology →

This analysis is produced by the CirclFi Valuation Engine using quantitative models applied to SEC EDGAR filings, public market feeds, and FRED macroeconomic indicators. It is not financial advice.

Read the full investment analysis: Should You Buy FIGS, Inc. Stock in 2026? →

Bull case, bear case, risk factors & peer comparison — updated daily

Which Similar Apparel Manufacturing Stocks Should You Also Analyze?

10 related Apparel Manufacturing stocks with 13-model coverage

LEVILevi Strauss & Co.QOC 8.5ZGNErmenegildo Zegna N.V.QOC 7.9COLMColumbia Sportswear CompanyQOC 8.6GOOSCanada Goose Holdings Inc.QOC 7.9KTBKontoor Brands, Inc.QOC 9.0SGCSuperior Group of Companies, Inc.QOC 7.7JRSHJerash Holdings (US), Inc.QOC 7.5VNCEVince Holding Corp.QOC 6.5SKFGStark Focus Group, Inc.QOC 3.5RLRalph Lauren CorporationQOC 9.3

Read investment analysis: LEVI · ZGN · COLM · GOOS · KTB · SGC · JRSH · VNCE · SKFG · RL

Which Other Stocks Have a Similar Quality Score to FIGS?

7 companies across all industries closest to FIGS’s Quality of Company score of 8.1/10.

TRUPTrupanion, Inc.QOC 8.1NPBNorthpointe Bancshares, Inc.QOC 8.1BOWBowhead Specialty Holdings Inc.QOC 8.1SHCSotera Health CompanyQOC 8.1ZBRAZebra Technologies CorporationQOC 8.1GDRXGoodRx Holdings, Inc.QOC 8.1NVDANVIDIA CorporationQOC 10.0

Read investment analysis: TRUP · NPB · BOW · SHC · ZBRA · GDRX · NVDA

What Else Do Investors Ask About FIGS, Inc.’s Valuation?

What is FIGS, Inc.'s intrinsic value in 2026?

CirclFi puts FIGS, Inc. (FIGS)'s intrinsic value at $3.71 — the median of 10 independent model estimates as of 2026-08-27, ranging from $2.32 to $5.29. One component of that median, the Bayesian DCF, runs 10,000 Monte Carlo simulations with jump-diffusion and returns $4.57 on its own. The Quality of Company score is 8.1/10 across 32 fundamental signals. All models use SEC EDGAR filings updated daily. See our methodology page for how each model works.

Is FIGS overvalued or undervalued right now?

At $15.10, 0 of 10 active models suggest FIGS may be undervalued, while 10 indicate potential overvaluation. The median of all 10 fair value estimates is $3.71, 75.4% below the current price of $15.10 — a consensus view that FIGS is overvalued. The assessment depends on which methodology best fits FIGS, Inc.'s business model in Apparel Manufacturing.

What does a Quality of Company score of 8.1 mean for FIGS?

FIGS, Inc.'s QOC of 8.1/10 reflects 32 fundamental signals: profitability margins, revenue growth consistency, balance sheet leverage, free cash flow generation, and capital allocation efficiency. Scores above 7 indicate strong fundamentals and disciplined management.

How many valuation models does CirclFi run on FIGS?

CirclFi analyzes FIGS with 13 institutional-grade models daily: Bayesian DCF (Monte Carlo + jump-diffusion), EPV (Greenwald zero-growth), EROIC Spread (McKinsey reinvestment), First Chicago (3-scenario), Markov DDM (regime-switching), ML-RIV (machine learning residual income), Dynamic NAV (asset-based), PWERM (option-theoretic), Regime Cross-Sectional (relative), Sentiment SOTP (hybrid), CUCE Ensemble (meta-model), FTNN Topology (neural network), and RCMH-DCF (conditional regime). Currently 10 of 13 are active for this stock. Read the full methodology →

Which valuation models are most bullish and most bearish on FIGS?

Of the 10 models currently active on FIGS, Regime Cross-Sectional is the most bullish at $5.29 per share, and EROIC Spread is the most bearish at $2.32. CirclFi's published fair value for FIGS is the median of that range, $3.71, not either extreme. The gap between the two ends equals 80% of the median — a normal spread for a company of this profile. Browse stocks by value-trap risk →

Is FIGS a value trap in 2026?

FIGS, Inc.'s Value Trap score is 6/100 (SAFE). This low score indicates the current valuation is not artificially depressed by fundamental deterioration, suggesting genuine opportunity rather than a trap.

Cite this analysis — “According to CirclFi’s 10-model valuation engine, FIGS, Inc. (FIGS) has a median fair value of $3.71 — 75.4% below the current price of $15.10 — as of 2026-08-27.” Source: circlfi.com/stock/FIGS/ · Methodology
Primary sources for this FIGS valuation
  • Financial statements: FIGS, Inc. 10-K and 10-Q filings on SEC EDGAR (CIK 0001846576) — 700+ standardized XBRL tags, published by the U.S. Securities and Exchange Commission.
  • Discount-rate inputs: FRED, Federal Reserve Bank of St. Louis — risk-free rates, VIX, yield curve, inflation.
  • News sentiment: The GDELT Project — global media tone, input to the Sentiment SOTP model.
  • Model definitions: CirclFi methodology — the published specification for all 13 models, including the academic sources each one implements.

Market data for FIGS as of ; valuations recomputed .

You’ve done the research. Don’t stop at half the picture.

Stop collecting opinions. Let 10 mathematical frameworks give you clarity on FIGS.

Unlock All 10 Fair Values — $39/mo

Cancel anytime · Less than a cup of coffee · Instant access

6 models hidden for FIGS Unlock All 10 — $39/mo