FIGS Inc. (FIGS) exhibits 66.5% gross margins and 7.3% return on invested capital within Consumer Discretionary (Apparel), balanced against a 79.0x enterprise multiple and 4.8% implied options volatility.
Sustained 66.5% gross profitability converts into 6.0% operating margin and 7.3% ROIC, outpacing sector cost of capital.
ROIC: 7.3% // GM: 66.5%YoY revenue trajectory of +13.6% paired with 1.48% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +13.6% // FCF YLD: 1.48%Altman Z-Score of 17.36 and Piotroski F-Score of 9/9 indicate low near-term refinancing stress.
ALTMAN Z: 17.36 // F-SCORE: 9/9Trading at 104.4x trailing P/E (87.7x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 104.4x // EV/EBITDA: 79.0xOptions market prices a ±5.2% implied move with a 0.85 put/call ratio around $21.29 max pain.
IMPL MOVE: ±5.2% // P/C: 0.85Elevated industry capital intensity and customer concentration in Apparel require continuous execution to defend 5.4% net margins.
NET MARGIN: 5.4% // D/E: 0.14x| FILER | SIDE | $ VALUE |
|---|---|---|
| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
|---|---|---|
| INSPECT GEX & CHAIN IN OPT <GO> | ||
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