FIGR vs SOFI: Which Is the Better Buy in 2026?
Last updated August 2026
Short answer
SOFI is the larger of the two ($21.04B market cap): the incumbent the market prices for continued execution (20.08x forward earnings, beta 2.15). FIGR is the smaller challenger ($5.51B), priced similarly on forward earnings (17.67x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
FIGR vs SOFI: the tie-breaker metrics
Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | FIGR | SOFI | What it tells you |
|---|---|---|---|
| Market cap | $5.51B | $21.04B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 17.67 | 20.08 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 30.38 | 33.29 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Price vs 52-week range | 1% of range | 8% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 4.23 | 1.93 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Before you buy: how FIGR and SOFI affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. FIGR and SOFI share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined FIGR and SOFI exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Figure Technology Solutions (FIGR) do?
Figure Technology Solutions, Inc. (Nasdaq: FIGR) is a financial technology company co-founded by SoFi founder Mike Cagney that originates and distributes consumer and mortgage-related loans, with home equity lines of credit (HELOCs) as its core product. Figure pairs a technology-driven loan origination system (which promises approvals in minutes and funding in days) with Figure Connect, an electronic marketplace launched in June 2024 that lets originators sell loans to buyers, and it uses blockchain-based infrastructure such as its Digital Asset Registry Technology (DART) to track and transfer loans. The company has grown into the largest non-bank provider of home equity financing in the country, facilitating more than $17 billion in home equity lending, and it expanded into residential real estate lending through its acquisition of Kiavi.
What does SoFi Technologies (SOFI) do?
SoFi Technologies is a digital-first financial services company built around a mobile app that bundles lending, banking, investing, and credit cards, and it holds a national bank charter that lets it fund loans with lower-cost deposits. Its three reporting segments are Lending (personal, student, and home loans), Financial Services (checking and savings, SoFi Money, invest, credit card, and the Loan Platform Business that originates loans on behalf of partners), and the Technology Platform (Galileo and the Technisys core-banking stack, which provide payments and banking rails to other fintechs and brands). Total members reached roughly 14.7 million and total products about 22.2 million as of Q1 2026.
FIGR vs SOFI: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- FIGR drivers: HELOC origination scale and market leadership; Figure Connect marketplace and capital-markets flywheel.
- SOFI drivers: Member and product growth flywheel; Shift to fee-based, capital-light revenue.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Figure carries elevated, above-average risk for a recently public company. For SOFI, soFi carries meaningful consumer-credit exposure, so a weaker economy or rising unemployment could lift charge-offs on personal and student loans and pressure earnings.
FIGR or SOFI: which should you pick?
Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick FIGR if you believe its drivers more; SOFI if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the FIGR and SOFI guides.
FIGR vs SOFI: the full fundamentals
FIGR. As of July 2026, Figure trades at a high trailing earnings multiple (around 54 times earnings), which reflects investor expectations of continued rapid growth rather than a value valuation. Revenue and net income have grown quickly since the September 2025 IPO, but the shares have been highly volatile, falling from roughly $78 in January 2026 to the low $30s amid a short-seller report and a data breach. Figures are approximate and change with each earnings release and with the stock price.
SOFI. SoFi trades at a clear premium to the consumer-finance industry, where forward P/E averages closer to 10x, reflecting expectations of continued 30-percent-range revenue growth. Full-year 2026 guidance points to adjusted net revenue of roughly $4.655 billion and adjusted EPS near 60 cents. The valuation embeds strong execution, so figures should be checked against the latest filings.
Headline figures (approximate, July 2026): FIGR shows revenue (ttm) ~$510 million (up ~74%), net income (ttm) ~$108 million, full-year 2024 revenue ~$293 million, p/e ratio (trailing) ~54 (forward ~30); SOFI shows revenue (ttm) ~$3.9 billion, q1 2026 net revenue ~$1.1 billion (adj. +41% YoY), net income (ttm) ~$577 million, market cap ~$22 billion.
The bottom line: FIGR vs SOFI
FIGR and SOFI are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined FIGR and SOFI exposure against your real portfolio. It is not an investment adviser.
Wondering how FIGR or SOFI fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Figure Technology Solutions with AI
Connect the broker you already use and ask Walnut's AI how FIGR fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between FIGR and SOFI?
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Figure Technology Solutions, Inc. SoFi Technologies is a digital-first financial services company built around a mobile app that bundles lending, banking, investing, and credit cards, and it holds a national bank charter that lets it fund loans with lower-cost deposits. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is FIGR or SOFI the better stock?
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Neither is universally better. SOFI is the larger incumbent; FIGR is the smaller challenger and looks cheaper on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, FIGR or SOFI?
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On forward P/E (as of August 2026), FIGR trades at 17.67x and SOFI at 20.08x, so FIGR is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both FIGR and SOFI?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of FIGR vs SOFI?
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FIGR: Figure carries elevated, above-average risk for a recently public company. In April 2026, short-seller Morpheus Research published a report arguing that Figure overstates how central blockchain is to its operations and that several of its crypto-native products have stalled, and it disclosed a short position; Figure disputed the report, but the controversy has weighed on the stock and remains unresolved. In February 2026 the company confirmed a data breach exposing sensitive personal and financial information of nearly one million people, which has drawn consumer class-action litigation and reputational risk. The business is economically cyclical and rate-sensitive, because HELOC demand, loan pricing, and marketplace activity all depend on interest rates, home prices, and consumer credit conditions, so a housing downturn or rising defaults would pressure origination volume and credit losses. The stock trades at a high earnings multiple and has been extremely volatile (falling from roughly $78 in January 2026 to the low $30s), meaning the price already assumes strong future growth and can move sharply on sentiment. Finally, as a young public company with a founder-led governance structure and concentrated insider ownership, execution and key-person risk around co-founder Mike Cagney are meaningful. SOFI: SoFi carries meaningful consumer-credit exposure, so a weaker economy or rising unemployment could lift charge-offs on personal and student loans and pressure earnings. The stock trades at a premium to consumer-finance peers (a trailing P/E in the roughly 40 range), which leaves little room for growth disappointment or margin compression. Technology Platform growth has at times been slower than hoped, and heavy reliance on lending revenue means interest-rate swings and funding costs matter. Regulatory scrutiny of fintech banking, competition from large banks and other neobanks, and execution risk on new partnerships round out the picture.
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Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell FIGR or SOFI; figures are approximate and dated (as of August 2026). Verify current data before investing.