Figma FIG
United StatesTechnology · Software - ApplicationUSD
30.80 USD (+42.5%)
10 analysts
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Figma is a software company that develops a collaborative platform for interface design and prototyping, with a subscription-based business model for product design and development teams.
Key points
from its scores- ✓Strong growth9.9
- ✕Poor share-price trend0.3
- ✕Little or no dividend1.5
- ✕Demanding valuation3.0
AI analysis
bottom line, main risk, context and newsHold only for investors with high risk tolerance and a long horizon; the growth premium is justified only if profitability improves significantly.
Figma is growing at an exceptional rate (revenue +48.2%) with a 79.14% gross margin, but it is burning cash (operating margin -31.69%) and trades at a 61.77 forward P/E, requiring flawless execution to justify the multiple.
The main risk is the demanding valuation (61.77 forward P/E) combined with negative operating margins (-31.69%): any growth slowdown or delay in the path to profitability could trigger a severe correction, as suggested by the -62% momentum.
Context and risks
Figma has no material exposure to current macro factors: its collaborative design software business does not depend on commodities, shipping routes, or interest rates significantly. Its balance sheet is sound (Net Debt/EBITDA of 1.02) and its 48.2% revenue growth is organic, so the rise in long-term US rates does not alter its investment thesis.
Is Figma stock cheap or expensive?
at the analysis dateOn Price / sales, it trades 70% above the Technology median.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| Price / book | 7.8 | 6.3 | +23% |
| Price / sales | 9.0 | 5.3 | +70% |
Sector: median of the 283 Technology companies analysed. In bold, the multiples used for the comparison.
Valuation score: 3.0 out of 10 (median for Technology: 5.3).
Average analyst target: 30.80 USD, +42.5% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 3.3 (sector 6.4), Growth 9.9 (sector 7.5).
Classic formulas with standard assumptions (5.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Technology medianValuation
- Forward P/E
- 61.8
- EV / EBITDA
- −6.3
- Price / book
- 7.8
- Price / sales
- 9.0
- PEG
- 7.95
- Market cap
- 11.5B USD
- Enterprise value
- 9.9B USD
Profitability
- ROE
- −108.6%
- ROA
- −45.2%
- ROIC (approx.)
- −26.2%
- Gross margin
- 79.1%
- Operating margin
- −31.7%
- Net margin
- −123.1%
- Free cash flow
- 867.0M USD
- FCF yield
- 7.5%
Solvency
- Total debt
- 67.8M USD
- Net debt
- −1.6B USD
- Cash
- 1.7B USD
- EBITDA
- −1.6B USD
- Net debt / EBITDA
- 1.02
- Debt / equity
- 4.58
- Current ratio
- 2.45
- Quick ratio
- 2.30
Growth
- Revenue growth
- +48.2%
- EPS (TTM)
- −3.23 USD
- EPS (forward)
- 0.35 USD
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.0%
Risk and market
- Analyst consensus
- Buy (10)
- Target price
- 30.80 USD
- 52-week range
- 16.60 – 71.48
Recent news
All FIG news →Compare it with its sector
All 283 in Technology →Frequently asked questions about Figma
Is Figma stock cheap or expensive?
On Price / sales, it trades 70% above the Technology median. Valuation score: 3.0 out of 10 (median for Technology: 5.3). Average analyst target: 30.80 USD, +42.5% versus the price. This is not investment advice.
What score does Figma get on MeridIAn Screener?
It scores 4.6 out of 10, rank 1,836 of 2,130 (better than 13% of the companies analysed). Its strongest category is Growth (9.9) and its weakest, Momentum (0.3). Analysis of 08/10/2026.
How much is Figma worth on the stock market?
Its market capitalisation is 11.5B USD and its enterprise value, debt included, is 9.9B USD.
How much debt does Figma have?
It has more cash than debt: net cash of 1.6B USD.
Does Figma pay a dividend?
It pays no dividend, or almost none.
How has Figma stock performed over the last year?
It has fallen 64.6% over the last year, excluding dividends. Over the last 52 weeks it has traded between 16.60 and 71.48 USD. Past performance does not guarantee future results.
What do analysts think of Figma?
10 analysts cover it; their average recommendation is “Buy” and their average target is 30.80 USD (+42.5% versus the price). It is an estimate, not market data.