FIGS, Inc.

The business, in plain English

FIGS, Inc. booked $631M of revenue in FY2025 in the Consumer Discretionary sector and kept 66.5% of it as gross profit — a high-margin business by that measure. After every other cost, 5.4% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $110M (FY2019) to $631M (FY2025) — about 33.7% a year compounded over 6 years.

It earned 7.8% on invested capital in the latest filed year, FY2025. Across the full 7-year measurable filed record, median ROIC was 9.5%. Over the v3 recent window (7 measurable filed years), median ROIC was 9.5%. The Returns on Capital filter above scores it 35/100.

FIGS's latest filed year, FY2025, doesn't disclose total debt in a form the methodology can use, so current leverage is treated as unmeasured — never assumed to be zero.

Put together: Balance-Sheet Safety is the strongest of the five filters (100/100) and Returns on Capital the weakest (35/100), which is how FIGS lands at 79/100 — a Narrow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.