What is FIGS's operating margin?

FIGS (FIGS) reported operating margin of 6.4% in Q1 2026.

How has FIGS's operating margin changed year-over-year?

FIGS's operating margin increased by 2137.9% year-over-year, from 0.3% to 6.4%.

What is the long-term trend for FIGS's operating margin?

Over 5 years (2020 to 2025), FIGS's operating margin has grown at a -22.8% compound annual growth rate (CAGR), from 22% to 6%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

FIGS FIGS Operating margin

Operating margin at other companies

lululemon athleticaLULU

18.3%-5.1pp

Under ArmourUAA

-3.3%-0.3pp

Academy Sports and OutdoorsASO

8.4%-0.1pp

PBH

Prestige Consumer HealthcarePBH

28.4%-1.2pp

UFP TechnologiesUFPT

15.2%-0.9pp

Kohl'sKSS

3.9%+1.1pp

Other financials

Income statement

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Revenue$159.9M+28.0%

Gross profit$108.3M+28.2%

Operating income$4.5M+2,225%

Net income$6.3M+6,265%

EPS (diluted)$0.03—

Balance sheet

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Cash & equivalents$74.3M-17.4%

Total debt$60.6M+18.1%

Total equity$430.6M+12.9%

Total assets$563.4M+7.9%

Cash flow

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Operating cash flow-$3.2M-135%

CapEx$2.4M+85.0%

Free cash flow-$5.6M-171%

Valuation

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Market cap$1.84B+229%

Enterprise value$1.83B+246%

P/E45.3×-427×

P/S2.8×+1.8×

Profitability

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Gross margin66.6%-0.7pp

Net margin6.1%+5.9pp

FCF margin5.9%-4.9pp

Returns & leverage

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Return on equity10%+9.7pp

Debt / equity0.1×0.0×

Current ratio5.4×+1.4×

Where this comes from

Calculated from FIGS’s reported figures.

operating income/total revenue=6.4%

Based on trailing twelve months.

The official record: FIGS’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is FIGS's operating margin?: FIGS (FIGS) reported operating margin of 6.4% in Q1 2026.
How has FIGS's operating margin changed year-over-year?: FIGS's operating margin increased by 2137.9% year-over-year, from 0.3% to 6.4%.
What is the long-term trend for FIGS's operating margin?: Over 5 years (2020 to 2025), FIGS's operating margin has grown at a -22.8% compound annual growth rate (CAGR), from 22% to 6%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.