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US collaborative design software company whose browser-based tool lets teams design and prototype digital products together.
US collaborative design software company whose browser-based tool lets teams design and prototype digital products together.
Charges per editing seat on monthly or annual plans, while people who only view or comment on files pay nothing, which lets a design file spread through a company before it is bought. Adoption often starts with individual designers or small teams and grows into large company contracts. A planned sale to Adobe was abandoned in 2023, and Figma went public in 2025.
Moat: narrow (network effects, switching costs, brand). Real-time multiplayer design files create team-wide lock-in that's costly to move once workflows are built around it.
Headquarters: San Francisco, California, US · Founded: 2012 · Employees: 1,886
Size Figma (FIG) is a United States Information Technology company (Packaged Software) with a market value of $10.0B, the 775th largest of 3,117 United States companies the cockpit tracks. Shares closed at $18.81 on 6 Nov 2026.
Performance Over six months the shares fell 8.9%, against +20.5% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 43.4% over the last twelve months (peer median +17.8%); the operating margin is -123.8% (peer median 12.9%).
Valuation It trades at 54.8× forward earnings against a peer median of 32.4× (3rd most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 22% a year for seven years (Req g). Recent delivered growth is +43%, so the hurdle is -21 pp: the price already allows for a slowdown.
Backlog Backlog (remaining performance obligations) was $678M at 30 Sep 2026, up 31% on a year earlier — 0.5 years of trailing revenue. Backlog detail →
Short interest Short interest is 8.2% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | $1.28B | $1.06B | $749M | $505M |
| Revenue growth | — | +41% | +48% | — |
| Gross profit | $1.01B | $870M | $661M | $460M |
| EBITDA | -$1.57B | -$1.27B | -$870M | -$65.0M |
| Net income | -$1.58B | -$1.25B | -$732M | $286M |
| Free cash flow | $229M | $243M | -$68.2M | $1.04B |
| Capital expenditure | $73.0M | $58.2M | $7.42M | $6.46M |
| Total debt | $67.8M | $58.5M | $28.8M | $14.6M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Figma FIG | $10.0B | -9% | +43% | -124% | 54.8× | 22.2% |
| Adobe ADBE | $93.1B | -5% | +12% | 36% | 8.9× | 0.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FIG | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.9% | +2.0% | 2nd lowest of 21 |
| 6-month return | -8.9% | +20.5% | 6th lowest of 21 |
| Distance from 52-week high | -59.8% | -20.3% | 2nd lowest of 21 |
| Revenue growth (TTM) | +43.4% | +17.8% | 3rd highest of 21 |
| Operating margin | -123.8% | 12.9% | lowest of 21 |
| Forward P/E | 54.8× | 32.4× | 3rd most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 22.2% | 18.2% | 8th most demanding of 20 |
| Growth delivered (Del g) | +43.4% | +23.1% | 2nd highest of 20 |
| Hurdle (Req g minus delivered) | -21.2 pp | -6.7 pp | 2nd least demanding of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Figma FIG | United States | $10.0B | -9% | +43% | -124% | 54.8× | 22.2% | +43.4% |
| HubSpot HUBS | United States | $10.0B | +2% | +21% | 4% | 12.5× | 25.1% | +28.8% |
| Wisetech Global WTC.AX | Australia | $10.3B | +15% | +71% | 31% | 32.6× | 30.1% | +32.3% |
| Paycom Software PAYC | United States | $10.5B | +73% | +9% | 30% | 15.9× | 3.3% | +19.5% |
| Oracle Financial Services Software OFSS.NS | India | $9.43B | +8% | +28% | 52% | 22.7× | 22.0% | +9.0% |
| Full Truck Alliance Co. Ltd. Sponsored ADR YMM | United States | $9.35B | +4% | +9% | 34% | 12.8× | -10.9% | +36.0% |
| Hinge Health HNGE | United States | $9.34B | +107% | +50% | 19% | 39.6× | 34.1% | +49.9% |
| SailPoint SAIL | United States | $11.0B | +57% | +20% | -19% | 53.5× | 42.0% | +24.7% |
| Capcom 9697.T | Japan | $11.0B | +25% | +21% | 41% | 27.0× | -2.2% | +15.4% |
| Elastic ESTC | United States | $9.12B | +65% | +16% | -1% | 24.4× | 13.0% | +23.4% |
| Paylocity PCTY | United States | $9.03B | +56% | +11% | 22% | 19.0× | 2.3% | +22.8% |
| Procore Technologies PCOR | United States | $11.4B | +41% | +16% | -1% | 33.8× | 19.9% | +27.0% |
| Netskope NTSK | United States | $8.70B | +83% | +30% | -94% | n/a | n/a | n/a |
| 360 Security Technology 601360.SS | China | $8.63B | -26% | +7% | -4% | 172.6× | 55.2% | -5.7% |
| DigitalOcean DOCN | United States | $8.55B | -56% | +28% | 12% | 44.7× | 41.6% | +23.1% |
| CSG Digital Power Grid Research Institute 301638.SZ | China | $8.52B | -37% | +18% | 10% | n/a | 18.0% | +8.2% |
| Chime Financial CHYM | United States | $11.9B | +70% | +18% | -1% | 35.2× | 18.2% | +24.8% |
| Nemetschek NEM.DE | Germany | $8.39B | +10% | +13% | 26% | 29.9× | 11.1% | +14.8% |
| Snap SNAP | United States | $8.39B | -18% | +13% | -5% | 32.3× | 2.7% | +18.8% |
| Xero XRO.AX | Australia | $8.36B | -13% | +27% | 13% | 66.7× | 25.9% | +25.3% |
| Descartes Systems DSG.TO | Canada | $8.10B | +32% | +12% | 33% | 37.9× | 4.4% | +16.8% |
Figma reported $678M of remaining performance obligations at 30 Sep 2026, up 31% from a year earlier and down 1% from the previous quarter. That is 0.5 years of trailing revenue already under contract. Book-to-bill last quarter: 0.98.