Professional
Added to YB: 2024-02-21
Pitch date: 2024-02-02
FIGS [bullish]
FIGS, Inc.
+106.02%
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
$1.5B
Pitch Price
$5.81
Price Target
N/A
Dividend
N/A
EV/EBITDA
23.81
P/E
87.72
EV/Sales
2.29
Sector
Textiles, Apparel and Luxury Goods
Category
growth
Sandbrook Capital Partners Portfolio Holding - FIGS, Inc.
FIGS: Core Long at $5.80. DTC scrubs modernizing med attire. Thesis: 1) Underestimated US penetration (10M workers), intl growth 2) Enterprise biz to thrive, closing gap to industry's 15% team rev 3) Non-scrub expansion = higher ASP & loyalty. Risks: saturation, inventory, post-COVID drop, competition. 22% IRR assumes 320k net adds/yr, low $110s AOV, 2 orders/yr/customer, low 70s GM%, flat selling cost w/ more marketing. Continued G&A increases, LT FCF margins low double digits = value.
Read full article (3 min)