Added to YB: 2021-11-29
Pitch date: 2021-11-29
FIGS [bearish]
FIGS, Inc.
+58.86%
current return
Author Info
No bio for this author
Company Info
FIGS, Inc., together with its subsidiary, FIGS Canada, Inc., operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally.
Market Cap
$2.4B
Pitch Price
$33.25
Price Target
20.00 (+46%)
Dividend
N/A
EV/EBITDA
22.33
P/E
44.05
EV/Sales
3.04
Sector
Textiles, Apparel and Luxury Goods
Category
value
FIGS: Not the lululemon of Healthcare Apparel
FIGS (short): FIGS’ premium pricing narrows its addressable scrubs market, while limited differentiation, cheaper competitors and 82% sales concentration in 13 core styles threaten growth as the COVID-related demand pull-forward fades. At 12.5x FY21 EV/sales versus a 6.3x peer median, the analysis implies a roughly $20 share price. Strong 72.7% gross margins, efficient customer acquisition and high retention are the main offsets.
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