The company maintains a sound liquidity position with a current ratio of 2.50, despite an accumulated retained earnings deficit of $1.6 billion as of 2026Q1.
| Total Current Assets | 1.94B | 2B | 1.64B | 1.54B |
| Cash & Short-Term Investments | 1.64B | 1.66B | 1.46B | 1.42B |
| Cash Only | 405.65M | 403.47M | 486.95M | 1.27B |
| Short-Term Investments | 1.23B | 1.25B | 970.88M | 148.97M |
| Accounts Receivable | 188.35M | 247.91M | 131.31M | 90.09M |
| Days Sales Outstanding | 56.35 | 85.71 | 63.99 | 65.13 |
| Inventory | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 109.58M | 100.84M | 48.87M | 28.36M |
| Total Non-Current Assets | 354.39M | 343.51M | 155.12M | 64.31M |
| Property, Plant & Equipment | 85.44M | 42.32M | 43.82M | 11.63M |
| Fixed Asset Turnover | 14.41x | 24.95x | 17.09x | 43.40x |
| Goodwill | 101.4M | 101.4M | 11.4M | 11.4M |
| Intangible Assets | 12.66M | 19.08M | 2.51M | 3.12M |
| Long-Term Investments | 19.6M | 0 | 0 | 0 |
| Other Non-Current Assets | 154.9M | 180.71M | 97.39M | 38.16M |
| Total Assets | 2.29B | 2.35B | 1.79B | 1.6B |
| Asset Turnover | 0.53x | 0.45x | 0.42x | 0.32x |
| Asset Growth % | 50.59% | 30.95% | 11.94% | - |
| Total Current Liabilities | 774.46M | 776.11M | 446.96M | 545.05M |
| Accounts Payable | 8.93M | 4.5M | 4.16M | 3.69M |
| Days Payables Outstanding | 15.09 | 8.86 | 17.36 | 30.24 |
| Short-Term Debt | 2.54M | 2.63M | 0 | 0 |
| Deferred Revenue (Current) | 2.13B | 0 | 385.87M | 253.63M |
| Other Current Liabilities | 135.33M | 768.19M | 35.92M | 268.33M |
| Current Ratio | 2.50x | 2.58x | 3.66x | 2.82x |
| Quick Ratio | 2.50x | 2.58x | 3.66x | 2.82x |
| Cash Conversion Cycle | 41.26 | - | - | - |
| Total Non-Current Liabilities | 59.37M | 61.46M | 22.14M | 13.71M |
| Long-Term Debt | 53.62M | 55.84M | 0 | 0 |
| Capital Lease Obligations | 167.7M | 55.84M | 17.83M | 2.14M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 5.74M | -50.23M | 4.3M | 11.57M |
| Total Liabilities | 833.83M | 837.57M | 469.1M | 558.77M |
| Total Debt | 56.16M | 114.32M | 28.77M | 14.6M |
| Net Debt | -349.49M | -289.15M | -458.18M | -1.26B |
| Debt / Equity | 0.04x | 0.08x | 0.02x | 0.01x |
| Debt / EBITDA | -0.04x | - | - | - |
| Net Debt / EBITDA | 0.24x | - | - | - |
| Interest Coverage | - | - | - | - |
| Total Equity | 1.46B | 1.51B | 1.32B | 1.04B |
| Equity Growth % | 20.41% | 14.09% | 26.93% | - |
| Book Value per Share | 2.78 | 2.96 | 2.95 | 2.14 |
| Total Shareholders' Equity | 1.46B | 1.51B | 1.32B | 1.04B |
| Common Stock | 4K | 4K | 1K | 0 |
| Retained Earnings | -1.59B | -1.44B | -192.91M | 540.07M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | -168K | 4M | 1.31M | 265K |
| Minority Interest | 0 | 0 | 0 | 0 |
Accumulated Retained Earnings Deficit
As reported in recent financial statements, Figma's total assets grew from $1.8 billion in 2024Q4 to $2.3 billion by 2026Q1, reflecting a rapid expansion of the balance sheet that appears driven by aggressive reinvestment strategies rather than traditional debt-fueled asset accumulation.
The expansion of the asset base suggests a scaling business model, yet the concurrent rise in liabilities warrants caution regarding the company's long-term leverage profile. Investors should monitor whether this asset growth translates into sustainable market share gains or if it merely reflects the costs of maintaining a competitive edge in a high-R&D environment.
Based on the provided quarterly data, Figma maintained a current ratio of 2.50 as of 2026Q1, indicating that the company possesses sufficient short-term assets to cover its immediate obligations despite the significant volatility in cash balances observed over the preceding six quarters.
The company's ability to maintain a healthy current ratio suggests that its subscription-based revenue model provides a reliable liquidity cushion. However, the fluctuation in cash levels implies that management may be deploying capital opportunistically, potentially for strategic initiatives or to manage the fallout from the terminated Adobe merger.
According to the balance sheet data, Figma's retained earnings have deteriorated significantly, reaching a deficit of $1.6 billion in 2026Q1, which highlights the substantial capital intensity required to sustain the company's current growth trajectory and product development roadmap.
This deep deficit appears to be a byproduct of aggressive R&D spending and potential one-time charges, rather than operational insolvency. While this reflects a commitment to long-term growth, it underscores the necessity for the company to eventually pivot toward profitability to stabilize its equity base.
As evidenced by the growth in deferred revenue from $381.4 million in 2024Q4 to $627.7 million in 2026Q1, Figma continues to secure long-term commitments from its enterprise customer base, providing a clear signal of future revenue durability despite broader market uncertainties.
The steady increase in unearned revenue suggests that the company's land-and-expand strategy is effectively converting pilot programs into multi-year enterprise agreements. This metric serves as a critical indicator of platform stickiness and provides a degree of predictability to the company's future cash flow profile.
Quick answers to the most common questions about buying FIG stock.
As of 2025, Figma, Inc. (FIG) had total assets of $2.35B including $2.00B in current assets.
Figma, Inc. (FIG) carries total debt of $114.3M, offset by $1.66B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Figma, Inc. (FIG) has total shareholders' equity (book value) of $1.51B ($2.96 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Figma, Inc. (FIG) reported a current ratio of 2.58x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.