Figma's 46% growth trades at 6x while peers at 15-36x: Market missing the story

Figma's 46% growth trades at 6x while peers at 15-36x: Market missing the story

7h ago
SaaStr ARMARM Gtm_strategy New

The Gist

  • Figma trades at 6x revenue despite 46% growth, 139% NDR, and 27% FCF margins
  • Accelerating growth (38%→40%→46%) contrasts with 87% stock drop from peak
  • $1.3B ARR business now valued like legacy software despite top-decile metrics
  • Cash-adjusted multiple suggests irrational discount for post-IPO hangover

RevBots.ai View:

GTM teams should study Figma's accelerating enterprise traction (48% $100K+ account growth) as a counter-narrative to SaaS valuation collapse.

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