Figma, Inc. (FIG) AI Stock Analysis

Figma, Inc. develops and sells a collaborative, browser-based platform for designing, prototyping, and building digital experiences, offering subscriptions for access. Its product portfolio includes Figma Design for team collaboration and design systems, Dev Mode for inspecting designs and translating them into code, FigJam for whiteboarding and alignment, and Figma Slides for presentations. The company also provides Figma Draw for expressive illustrations, Figma Buzz for brand templates, Figma Sites for publishing, and Payload CMS, an open-source headless content management system. Additionally, it offers AI-powered capabilities through Figma Make and Figma Weave.

Figma grew revenue from $504.9M in FY2023 to $749.0M in FY2024, an increase of 48.4%, and reached $1.06B in FY2025, reflecting 41.0% growth and a two-year revenue CAGR of 44.6%. Gross margin compressed from 91.2% in FY2023 to 88.3% in FY2024 and 82.4% in FY2025. Rising expenses led operating margin to shift from -14.5% in FY2023 to -122.2% in FY2025, driven by research and development spending of $1.03B. Consequently, net income fell from $285.9M in FY2023 to -$1.25B in FY2025. In the quarter ended June 30, 2026, revenue increased 48.2% year-over-year, while quarterly earnings declined 51.2%.

As of June 30, 2026, Figma held $1.67B in cash and short-term investments against total debt of $67.8M, resulting in a net cash position of $1.60B. Its current ratio stood at 2.45, with a debt-to-equity ratio of 0.05 and shareholders' equity of $1.48B out of $2.35B in total assets. In FY2025, Figma generated $250.7M in operating cash flow and $246.2M in free cash flow, while allocating $4.4M to capital expenditures and recording $26.4M in share issuance.

Figma shares closed at $21.49 on October 16, 2026, representing a 1-year decline of 62.8% and a year-to-date loss of 42.5%, lagging the S&P 500 return of 16.8% over the past year. The company trades at a forward P/E of 60.6x and an enterprise value to revenue multiple of 7.8x, compared to a forward P/E of 18.8x and EV to EBITDA of 16.6x for the median of its US-listed Technology peers. Figma carries a price-to-sales ratio of 8.9x, above the 2.8x peer median.

Wall Street coverage consists of 4 Strong Buy, 2 Buy, and 9 Hold ratings, with no Sell or Strong Sell recommendations. The mean price target is $30.10, representing a 40.1% upside over the last close of $21.49. For the fiscal year ending December 31, 2026, analysts estimate revenue of $1.47B and EPS of $0.29. For FY2027, consensus anticipates $1.82B in revenue and EPS of $0.34 across 14 analysts. Figma beat EPS estimates in 2 of the last 4 quarters, with next earnings scheduled for November 4, 2026.

This page is an AI-written research summary of Figma, Inc. (FIG). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: FIG income statement, FIG balance sheet, FIG key metrics, FIG analyst forecast, FIG chart. See the FIG stock overview for the latest quote and news.