Market Pulse44Neutral

Figma, Inc.Opportunity Rank #295(FIG) Intrinsic Value & DCF Analysis (2026)

Sector: Technology

Current Price

$19.08

Last updated: Jun 23, 2026

Price vs Intrinsic Value

$19.08
Price
$3.53
Intrinsic Value
Overvalued by 81%MOS: $2.82

Fundamental Score

29/100
Bearish

Weighted across 6 signals

Narrative Score

53/100
Weak

No change vs previous

Trend Score

50/100
Neutral

As of 2026-06-22

The intrinsic value of Figma, Inc. (FIG) is estimated at $3.53 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $19.08, the stock appears overvalued relative to its projected cash flow fundamentals. This estimate assumes a -45.93% long-term growth rate and a 10.00% discount rate (calculated: 9.47%), reflecting expected future free cash flow and cost of capital.

The intrinsic value of Figma, Inc. (FIG) is estimated at $3.53 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $19.08, the stock appears overvalued relative to its projected cash flow fundamentals. This estimate assumes a -45.93% long-term growth rate and a 10.00% discount rate (calculated: 9.47%), reflecting expected future free cash flow and cost of capital.

Valuation Details

$3.53
▼ -81.50% downside
20% margin of safety: $2.82
Years: 10Growth Rate: -45.93%
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Fundamental Details

29/100
BearishWeighted across 6 signals
DCF Discount
81.5% premium to price
0
FCF Yield
2.8% trailing FCF yield
21
ROIC vs WACC
ROIC vs WACC unavailable
50
Net Debt / FCF
Net cash position
100
Buybacks
Share count growing
30
FCF CAGR (5Y)
0.0% 5Y FCF CAGR
0
Strengths: Net Debt / FCF. Concerns: DCF Discount, FCF Yield.

Narrative Details

53/100
Weak
Vs 6-Month Baseline:Average (52nd pct)Weighted across 6 recent drivers
Trend: StableConfidence: 85%Updated: 38m ago
Sources: 47 (43 News · 4 Analyst)
Drivers(last 30 days)
37 news sentiment+0.3
2 earnings beat-0.0
Upgrade headlines+0.0
Margin pressure-0.0
2 regulatory scrutiny+0.0
4 analyst reiterations0.0

Trend Details

50/100
NeutralAs of 2026-06-22224 daily bars used
Trend score unavailable for this ticker right now.

Investment Coach

Updating... 12d ago
AVOIDConfidence: 80%
Thesis
Figma, Inc. is significantly overvalued with its current price trading approximately 84% above the estimated fair value, supported by weak fundamentals and returns that do not cover its cost of capital. Despite a net cash balance sheet, the company’s financial performance and growth prospects remain bearish and unattractive for investment.
Key Risk
The primary risk is that the company fails to improve its return on invested capital relative to its weighted average cost of capital, perpetuating value destruction.
Signals To Watch
  • Price moves to at least a mid-teens discount to fair value.
  • Sustained improvement in ROIC versus WACC spread.
  • Meaningful positive shifts in the company’s narrative score and fundamentals.
Ask the Coach - Available with
Historical Growth Rates
Free Cash Flow- - -Trend CAGR: -45.93%

Free Cash Flow (in millions)

TTM202520242023
$264$255-$54$1,054

How Intrinziq Estimates Fair Value

Intrinziq estimates Figma, Inc.'s intrinsic value using a discounted cash flow (DCF) model based on free cash flow trends and a market-based discount rate. The model projects future cash flows over ten years and discounts them using a market return assumption to estimate fair value.

Figma, Inc.Technology

Figma, Inc. delivers a powerful, browser-based ecosystem tailored for crafting user interfaces, assisting both design and development teams in bringing diverse products to life. Its premier offering, Figma Design, serves as a collaborative hub where teams can ideate, gather feedback, construct realistic mockups, and refine their product development cycles through integrated design systems. For developers, Dev Mode allows for the examination of designs and their direct translation into code, all without altering the original design file. The company also provides FigJam, a centralized canvas for brainstorming concepts, reaching consensus on decisions, and propelling projects forward. Additionally, Figma Slides offers a dedicated presentation tool for designers and their colleagues. Expanding its suite, Figma includes Figma Draw for creating expressive visuals with advanced illustration tools, Figma Buzz for deploying branded templates across social media assets, display ads, and one-pagers, and Figma Sites for comprehensive website design, prototyping, and publication. An innovative addition, Figma Make, harnesses AI to transform design prompts into functional prototypes. The company was founded in 2012 and operates from its headquarters in San Francisco, California.