
FIGS Inc. (FIGS) is rated BUY, supported by robust revenue growth, margin expansion, and a debt-free balance sheet enabling aggressive share repurchases. FIGS trades at a 23.8x forward EV/EBITDA premium, justified by A+ growth metrics and consensus EBITDA growth of 35% versus -1% for its closest peer. Recent 2Q26 results saw net revenue up 28.8% YoY, EBITDA margin expand 570 bps, and 70% of revenue driven by repeat customers.










