Figma, Inc. (FIG) intrinsic value & 10-year financials
Figma, Inc. (FIG) has a Graham intrinsic value of $53.81 per share. At $21.49 on Oct 17, 2026, the stock trades 60% below that value. Over the last 4 fiscal years revenue grew 44.6% a year to $1.1B, with an average return on invested capital of -77.1%.
- Graham intrinsic value
- $53.81
- Share price (Oct 17, 2026)
- $21.49
- Price vs Graham value
- 60% below
- Market cap
- $7.2B
- Revenue (FY2025)
- $1.1B
- Revenue growth (4-yr CAGR)
- 44.6%
- ROIC (10-yr avg)
- -77.1%
- Free cash flow (FY2025)
- $246.2M
FIG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.1B | -$1.3B | -$3.71 | $246.2M | -122.2% | -127.9% |
| FY2024 | $749.0M | -$732.1M | -$3.74 | -$63.7M | -117.1% | -94.7% |
| FY2023 | $504.9M | $737.8M | $1.62 | $1.0B | -14.5% | -8.6% |
| FY2022 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Figma, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Figma, Inc. has historically struggled to out-earn its cost of capital, averaging just -77.1% ROIC.
Figma, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Figma, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $53.81 per share.