Shutterstock (SSTK) Financials

$15.32 +0.16 (+1.02%)

Closing price 03:59 PM Eastern

Extended Trading

$15.38 +0.06 (+0.39%)

As of 05:49 PM Eastern

Annual Income Statements for Shutterstock

This table shows Shutterstock's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	76	110	36
Consolidated Net Income / (Loss)	76	110	36
Net Income / (Loss) Continuing Operations	76	110	36
Total Pre-Tax Income	91	122	63
Total Operating Income	94	68	69
Total Gross Profit	514	522	539
Total Revenue	828	875	935
Operating Revenue	828	875	935
Total Cost of Revenue	314	353	396
Operating Cost of Revenue	314	353	396
Total Operating Expenses	420	454	470
Selling, General & Admin Expense	133	143	159
Marketing Expense	203	215	223
Research & Development Expense	65	96	88
Impairment Charge	19	0.00	0.00
Total Other Income / (Expense), net	-2.59	54	-6.16
Interest Expense	1.34	1.86	11
Other Income / (Expense), net	-1.25	56	4.40
Income Tax Expense	15	12	27
Basic Earnings per Share	$2.11	$3.07	$1.02
Weighted Average Basic Shares Outstanding	36.04M	35.88M	35.33M
Diluted Earnings per Share	$2.08	$3.04	$1.01
Weighted Average Diluted Shares Outstanding	36.55M	36.24M	35.66M
Weighted Average Basic & Diluted Shares Outstanding	35.84M	35.54M	34.89M
Cash Dividends to Common per Share	$0.96	$1.08	$1.20

This table shows Shutterstock's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	23	7.05	33	50	28	-1.01	16	3.63	18	-1.43
Consolidated Net Income / (Loss)	23	7.05	33	50	28	-1.01	16	3.63	18	-1.43
Net Income / (Loss) Continuing Operations	23	7.05	33	50	28	-1.01	16	3.63	18	-1.43
Total Pre-Tax Income	27	8.51	41	51	28	2.06	20	17	18	8.07
Total Operating Income	29	7.65	40	8.72	17	2.12	17	21	18	13
Total Gross Profit	124	130	137	124	139	121	126	129	146	138
Total Revenue	204	218	215	209	233	217	214	220	251	250
Operating Revenue	204	218	215	209	233	217	214	220	251	250
Total Cost of Revenue	80	88	78	84	94	96	88	91	104	112
Operating Cost of Revenue	80	88	78	84	94	96	88	91	104	112
Total Operating Expenses	96	122	97	116	122	119	109	108	128	125
Selling, General & Admin Expense	30	39	34	38	38	33	32	36	44	47
Marketing Expense	48	48	48	48	56	63	56	52	55	59
Research & Development Expense	18	17	15	29	28	23	21	20	29	19
Total Other Income / (Expense), net	-1.55	0.86	1.05	43	10	-0.06	3.64	-4.11	-0.62	-5.08
Other Income / (Expense), net	-1.55	2.20	1.05	43	11	1.23	3.64	-4.11	3.83	1.03
Income Tax Expense	4.10	1.46	8.57	1.37	-0.81	3.07	4.27	13	-0.09	9.50
Basic Earnings per Share	$0.64	$0.20	$0.92	$1.39	$0.79	($0.03)	$0.45	$0.10	$0.50	($0.03)
Weighted Average Basic Shares Outstanding	35.93M	36.04M	35.86M	36.05M	35.91M	35.88M	35.59M	35.70M	35.17M	35.33M
Diluted Earnings per Share	$0.64	$0.20	$0.90	$1.37	$0.79	($0.02)	$0.45	$0.10	$0.50	($0.04)
Weighted Average Diluted Shares Outstanding	36.27M	36.55M	36.58M	36.41M	36.08M	36.24M	36.07M	35.98M	35.47M	35.66M
Weighted Average Basic & Diluted Shares Outstanding	35.82M	35.84M	36.05M	36.08M	35.71M	35.54M	35.84M	35.42M	34.86M	34.89M

This table details how cash moves in and out of Shutterstock's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	-199	-15	11
Net Cash From Operating Activities	158	141	33
Net Cash From Continuing Operating Activities	158	141	33
Net Income / (Loss) Continuing Operations	76	110	36
Consolidated Net Income / (Loss)	76	110	36
Depreciation Expense	68	80	88
Non-Cash Adjustments To Reconcile Net Income	58	0.21	52
Changes in Operating Assets and Liabilities, net	-44	-50	-143
Net Cash From Investing Activities	-276	-54	-166
Net Cash From Continuing Investing Activities	-276	-54	-166
Purchase of Property, Plant & Equipment	-47	-45	-47
Acquisitions	-229	-65	-183
Other Investing Activities, net	-0.17	55	64
Net Cash From Financing Activities	-79	-103	150
Net Cash From Continuing Financing Activities	-79	-103	150
Repayment of Debt	-0.62	-50	-34
Repurchase of Common Equity	-73	-28	-42
Payment of Dividends	-35	-39	-42
Issuance of Debt	50	30	280
Other Financing Activities, net	-21	-16	-12
Effect of Exchange Rate Changes	-2.28	1.80	-5.81
Cash Interest Paid	1.05	1.72	7.83
Cash Income Taxes Paid	23	33	34

This table details how cash moves in and out of Shutterstock's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-7.80	39	-19	-8.69	-12	25	-29	3.06	57	-20
Net Cash From Operating Activities	38	61	67	30	10	34	8.30	28	-12	7.97
Net Cash From Continuing Operating Activities	38	61	67	30	10	34	8.30	28	-12	7.97
Net Income / (Loss) Continuing Operations	23	7.05	33	50	28	-1.01	16	3.63	18	-1.43
Consolidated Net Income / (Loss)	23	7.05	33	50	28	-1.01	16	3.63	18	-1.43
Depreciation Expense	18	19	19	19	21	20	21	21	22	23
Non-Cash Adjustments To Reconcile Net Income	9.46	33	9.43	-27	3.51	14	5.89	18	-32	60
Changes in Operating Assets and Liabilities, net	-13	2.33	5.60	-13	-43	0.57	-35	-15	-19	-74
Net Cash From Investing Activities	-18	-18	-16	-50	4.21	7.60	-17	8.30	-148	-10
Net Cash From Continuing Investing Activities	-18	-18	-16	-50	4.21	7.60	-17	8.30	-148	-10
Purchase of Property, Plant & Equipment	-14	-12	-12	-10	-12	-9.93	-14	-9.08	-15	-8.92
Acquisitions	-3.94	-5.63	-3.53	-55	-4.47	-1.37	-20	-0.83	-160	-1.56
Other Investing Activities, net	-0.00	0.11	-0.03	16	21	19	18	18	27	0.43
Net Cash From Financing Activities	-25	-9.21	-71	13	-25	-19	-19	-32	213	-12
Net Cash From Continuing Financing Activities	-25	-9.21	-71	13	-25	-19	-19	-32	213	-12
Repayment of Debt	-	-	-50	-	-	-	0.00	-	-32	-1.56
Payment of Dividends	-8.63	-8.59	-9.66	-9.73	-9.64	-9.64	-11	-11	-11	-10
Other Financing Activities, net	0.30	-0.63	-11	-3.54	-0.67	-0.63	-7.97	-0.89	-2.86	-0.45
Cash Interest Paid	0.38	0.57	0.43	0.00	0.80	0.49	0.51	0.50	1.95	4.88
Cash Income Taxes Paid	6.78	3.97	-5.15	12	9.18	17	2.90	9.66	9.74	12

This table presents Shutterstock's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	881	1,036	1,309
Total Current Assets	216	293	256
Cash & Equivalents	115	100	111
Accounts Receivable	67	91	95
Prepaid Expenses	33	101	49
Plant, Property, & Equipment, net	55	64	66
Total Noncurrent Assets	611	679	987
Goodwill	382	383	570
Intangible Assets	173	184	248
Noncurrent Deferred & Refundable Income Taxes	17	25	71
Other Noncurrent Operating Assets	39	87	98
Total Liabilities & Shareholders' Equity	881	1,036	1,309
Total Liabilities	434	509	791
Total Current Liabilities	384	452	625
Short-Term Debt	50	30	158
Accounts Payable	7.18	9.11	9.22
Accrued Expenses	128	186	208
Current Deferred Revenue	187	203	225
Other Current Liabilities	11	24	25
Total Noncurrent Liabilities	50	57	166
Long-Term Debt	-	0.00	120
Noncurrent Deferred & Payable Income Tax Liabilities	4.47	4.18	2.17
Other Noncurrent Operating Liabilities	46	52	44
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	447	527	518
Total Preferred & Common Equity	447	527	518
Total Common Equity	447	527	518
Common Stock	392	425	469
Retained Earnings	271	343	336
Treasury Stock	-200	-228	-270
Accumulated Other Comprehensive Income / (Loss)	-15	-12	-17

This table presents Shutterstock's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	840	843	1,004	1,016	1,029	1,004	1,349
Total Current Assets	161	179	273	269	259	241	277
Cash & Equivalents	76	96	87	75	72	75	131
Accounts Receivable	53	48	62	85	94	97	92
Prepaid Expenses	32	35	125	109	93	69	54
Plant, Property, & Equipment, net	55	57	59	62	63	63	69
Total Noncurrent Assets	624	607	671	685	706	700	1,003
Goodwill	380	383	383	382	403	403	607
Intangible Assets	173	168	202	194	175	165	246
Noncurrent Deferred & Refundable Income Taxes	12	18	1.61	20	28	24	50
Other Noncurrent Operating Assets	59	39	85	89	100	109	100
Total Liabilities & Shareholders' Equity	840	843	1,004	1,016	1,029	1,004	1,349
Total Liabilities	410	366	485	484	487	483	826
Total Current Liabilities	360	313	408	424	433	432	663
Short-Term Debt	50	0.00	30	30	30	30	159
Accounts Payable	6.47	7.78	6.10	7.15	9.37	11	15
Accrued Expenses	117	114	153	174	161	163	210
Current Deferred Revenue	174	181	207	203	198	187	226
Other Current Liabilities	13	11	11	11	35	43	53
Total Noncurrent Liabilities	50	53	77	60	54	51	163
Long-Term Debt	-	-	-	-	-	-	120
Noncurrent Deferred & Payable Income Tax Liabilities	3.50	4.77	17	4.37	3.80	3.74	3.12
Other Noncurrent Operating Liabilities	46	48	60	55	50	47	39
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	431	477	520	532	541	520	523
Total Preferred & Common Equity	431	477	520	532	541	520	523
Total Common Equity	431	480	523	532	541	525	523
Common Stock	381	396	403	413	435	442	454
Retained Earnings	273	294	335	353	348	341	348
Treasury Stock	-200	-200	-204	-219	-228	-249	-270
Accumulated Other Comprehensive Income / (Loss)	-23	-14	-14	-16	-13	-14	-9.49

This table displays calculated financial ratios and metrics derived from Shutterstock's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	7.04%	5.65%	6.94%
EBITDA Growth	4.78%	26.87%	-21.23%
EBIT Growth	-11.80%	34.59%	-41.20%
NOPAT Growth	-17.48%	-21.31%	-35.91%
Net Income Growth	-17.17%	44.89%	-67.41%
EPS Growth	-15.45%	46.15%	-66.78%
Operating Cash Flow Growth	-26.77%	-11.30%	-76.77%
Free Cash Flow Firm Growth	-125.72%	91.52%	-1,387.30%
Invested Capital Growth	147.52%	19.43%	49.98%
Revenue Q/Q Growth	1.46%	-0.06%	3.67%
EBITDA Q/Q Growth	-0.42%	-1.66%	10.76%
EBIT Q/Q Growth	-4.42%	-3.98%	20.99%
NOPAT Q/Q Growth	-12.49%	-9.23%	6.41%
Net Income Q/Q Growth	-11.45%	-6.81%	-1.16%
EPS Q/Q Growth	-10.73%	-6.75%	-1.94%
Operating Cash Flow Q/Q Growth	4.38%	-16.22%	-44.32%
Free Cash Flow Firm Q/Q Growth	-6.41%	12.78%	-28.46%
Invested Capital Q/Q Growth	-5.44%	-6.19%	2.10%
Profitability Metrics	-	-	-
Gross Margin	62.03%	59.68%	57.63%
EBITDA Margin	19.43%	23.33%	17.19%
Operating Margin	11.31%	7.82%	7.35%
EBIT Margin	11.16%	14.22%	7.82%
Profit (Net Income) Margin	9.19%	12.61%	3.84%
Tax Burden Percent	83.60%	90.04%	57.45%
Interest Burden Percent	98.55%	98.51%	85.55%
Effective Tax Rate	16.40%	9.96%	42.55%
Return on Invested Capital (ROIC)	29.16%	14.68%	6.92%
ROIC Less NNEP Spread (ROIC-NNEP)	30.30%	-57.10%	-0.46%
Return on Net Nonoperating Assets (RNNOA)	-12.54%	7.95%	-0.04%
Return on Equity (ROE)	16.62%	22.63%	6.87%
Cash Return on Invested Capital (CROIC)	-55.74%	-3.03%	-33.07%
Operating Return on Assets (OROA)	10.66%	12.97%	6.23%
Return on Assets (ROA)	8.78%	11.50%	3.06%
Return on Common Equity (ROCE)	16.62%	22.63%	6.87%
Return on Equity Simple (ROE_SIMPLE)	17.01%	20.92%	6.93%
Net Operating Profit after Tax (NOPAT)	78	62	39
NOPAT Margin	9.45%	7.04%	4.22%
Net Nonoperating Expense Percent (NNEP)	-1.14%	71.78%	7.38%
Return On Investment Capital (ROIC_SIMPLE)	15.73%	11.06%	4.96%
Cost of Revenue to Revenue	37.97%	40.32%	42.37%
SG&A Expenses to Revenue	16.02%	16.31%	17.02%
R&D to Revenue	7.90%	11.00%	9.45%
Operating Expenses to Revenue	50.72%	51.86%	50.28%
Earnings before Interest and Taxes (EBIT)	92	124	73
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	161	204	161
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	4.00	3.17	2.04
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.16	1.91	1.13
Price to Earnings (P/E)	23.50	15.14	29.45
Dividend Yield	1.92%	2.31%	3.95%
Earnings Yield	4.26%	6.61%	3.40%
Enterprise Value to Invested Capital (EV/IC)	4.51	3.50	1.79
Enterprise Value to Revenue (EV/Rev)	2.08	1.83	1.31
Enterprise Value to EBITDA (EV/EBITDA)	10.71	7.83	7.62
Enterprise Value to EBIT (EV/EBIT)	18.65	12.86	16.75
Enterprise Value to NOPAT (EV/NOPAT)	22.02	25.96	31.02
Enterprise Value to Operating Cash Flow (EV/OCF)	10.88	11.37	37.51
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.11	0.06	0.54
Long-Term Debt to Equity	0.00	0.00	0.23
Financial Leverage	-0.41	-0.14	0.09
Leverage Ratio	1.89	1.97	2.24
Compound Leverage Factor	1.86	1.94	1.92
Debt to Total Capital	10.05%	5.39%	34.89%
Short-Term Debt to Total Capital	10.05%	5.39%	19.86%
Long-Term Debt to Total Capital	0.00%	0.00%	15.02%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	89.95%	94.61%	65.11%
Debt to EBITDA	0.31	0.15	1.73
Net Debt to EBITDA	-0.41	-0.35	1.04
Long-Term Debt to EBITDA	0.00	0.00	0.74
Debt to NOPAT	0.64	0.49	7.04
Net Debt to NOPAT	-0.83	-1.14	4.22
Long-Term Debt to NOPAT	0.00	0.00	3.03
Altman Z-Score	3.96	3.49	1.72
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	0.56	0.65	0.41
Quick Ratio	0.48	0.42	0.33
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-150	-13	-189
Operating Cash Flow to CapEx	339.20%	314.82%	69.14%
Free Cash Flow to Firm to Interest Expense	-111.97	-6.83	-17.87
Operating Cash Flow to Interest Expense	118.60	75.69	3.09
Operating Cash Flow Less CapEx to Interest Expense	83.64	51.65	-1.38
Efficiency Ratios	-	-	-
Asset Turnover	0.96	0.91	0.80
Accounts Receivable Turnover	14.40	11.04	10.04
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	16.13	14.72	14.31
Accounts Payable Turnover	36.39	43.29	43.24
Days Sales Outstanding (DSO)	25.34	33.05	36.37
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	10.03	8.43	8.44
Cash Conversion Cycle (CCC)	15.31	24.62	27.92
Capital & Investment Metrics	-	-	-
Invested Capital	382	457	685
Invested Capital Turnover	3.08	2.09	1.64
Increase / (Decrease) in Invested Capital	228	74	228
Enterprise Value (EV)	1,723	1,599	1,224
Market Capitalization	1,788	1,669	1,058
Book Value per Share	$12.49	$14.76	$14.87
Tangible Book Value per Share	($3.00)	($1.14)	($8.60)
Total Capital	497	557	796
Total Debt	50	30	278
Total Long-Term Debt	0.00	0.00	120
Net Debt	-65	-70	166
Capital Expenditures (CapEx)	47	45	47
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-233	-230	-322
Debt-free Net Working Capital (DFNWC)	-118	-130	-211
Net Working Capital (NWC)	-168	-160	-369
Net Nonoperating Expense (NNE)	2.16	-49	3.54
Net Nonoperating Obligations (NNO)	-65	-70	166
Total Depreciation and Amortization (D&A)	68	80	88
Debt-free, Cash-free Net Working Capital to Revenue	-28.17%	-26.33%	-34.48%
Debt-free Net Working Capital to Revenue	-14.26%	-14.84%	-22.58%
Net Working Capital to Revenue	-20.30%	-18.27%	-39.49%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$2.11	$3.07	$1.02
Adjusted Weighted Average Basic Shares Outstanding	36.04M	35.88M	35.33M
Adjusted Diluted Earnings per Share	$2.08	$3.04	$1.01
Adjusted Weighted Average Diluted Shares Outstanding	36.55M	36.24M	35.66M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	35.84M	35.54M	34.89M
Normalized Net Operating Profit after Tax (NOPAT)	94	62	39
Normalized NOPAT Margin	11.34%	7.04%	4.22%
Pre Tax Income Margin	11.00%	14.00%	6.69%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	69.14	66.95	6.92
NOPAT to Interest Expense	58.58	33.16	3.74
EBIT Less CapEx to Interest Expense	34.18	42.91	2.45
NOPAT Less CapEx to Interest Expense	23.62	9.12	-0.73
Payout Ratios	-	-	-
Dividend Payout Ratio	45.45%	35.07%	117.95%
Augmented Payout Ratio	142.01%	60.64%	233.70%

This table displays calculated financial ratios and metrics derived from Shutterstock's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.97%	5.80%	8.11%	0.95%	14.28%	-0.23%	-0.45%	5.37%	7.43%	15.23%
EBITDA Growth	33.89%	-2.30%	26.33%	79.96%	8.92%	-16.75%	-30.94%	-46.18%	-11.78%	58.02%
EBIT Growth	32.90%	-30.24%	26.74%	126.22%	3.82%	-65.92%	-50.77%	-67.77%	-21.99%	322.68%
NOPAT Growth	39.94%	-63.74%	23.34%	-60.95%	-27.34%	-116.38%	-58.64%	-46.67%	3.09%	-124.41%
Net Income Growth	43.74%	-58.27%	23.60%	157.20%	23.35%	-114.28%	-50.92%	-92.75%	-38.02%	-42.05%
EPS Growth	48.84%	-55.56%	26.76%	158.49%	23.44%	-110.00%	-50.00%	-92.70%	-36.71%	-100.00%
Operating Cash Flow Growth	-30.98%	12.20%	193.87%	-19.10%	-73.45%	-44.49%	-87.57%	-6.20%	-215.69%	-76.54%
Free Cash Flow Firm Growth	-37.29%	-54.21%	-93.82%	81.56%	68.54%	66.00%	35.01%	85.29%	-156.21%	-206.09%
Invested Capital Growth	131.96%	147.52%	104.34%	17.04%	20.38%	19.43%	31.20%	2.85%	37.81%	49.98%
Revenue Q/Q Growth	-1.34%	6.68%	-1.12%	-2.99%	11.69%	-6.87%	-1.34%	2.68%	13.88%	-0.11%
EBITDA Q/Q Growth	15.74%	-37.26%	122.18%	17.04%	-29.95%	-52.05%	85.82%	-8.79%	14.81%	-14.11%
EBIT Q/Q Growth	19.49%	-63.72%	386.71%	24.07%	-45.16%	-88.09%	889.81%	-18.78%	32.72%	-35.48%
NOPAT Q/Q Growth	12.10%	-74.00%	405.58%	-73.50%	108.58%	-105.86%	1,376.44%	-65.83%	303.20%	-112.76%
Net Income Q/Q Growth	18.49%	-69.42%	366.12%	52.28%	-43.18%	-103.54%	1,702.49%	-77.51%	385.93%	-108.11%
EPS Q/Q Growth	20.75%	-68.75%	350.00%	52.22%	-42.34%	-102.53%	2,350.00%	-77.78%	400.00%	-108.00%
Operating Cash Flow Q/Q Growth	2.34%	62.17%	9.18%	-55.35%	-66.41%	239.02%	-75.55%	236.93%	-141.43%	168.76%
Free Cash Flow Firm Q/Q Growth	35.53%	-7.71%	26.70%	63.77%	-9.98%	-16.40%	-40.11%	91.80%	-1,815.08%	-39.06%
Invested Capital Q/Q Growth	2.35%	-5.44%	-0.43%	21.45%	5.27%	-6.19%	9.39%	-4.79%	41.05%	2.10%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	60.85%	59.62%	63.69%	59.58%	59.61%	55.88%	58.84%	58.53%	58.34%	55.08%
EBITDA Margin	22.24%	13.08%	28.01%	33.80%	21.20%	10.92%	19.44%	17.27%	17.41%	14.97%
Operating Margin	14.05%	3.51%	18.75%	4.17%	7.37%	0.98%	7.81%	9.39%	7.24%	5.25%
EBIT Margin	13.30%	4.52%	19.24%	24.60%	12.08%	1.54%	9.51%	7.53%	8.77%	5.67%
Profit (Net Income) Margin	11.29%	3.24%	15.26%	23.95%	12.18%	-0.46%	7.52%	1.65%	7.03%	-0.57%
Tax Burden Percent	84.90%	82.81%	79.30%	97.34%	102.92%	-48.84%	79.06%	21.89%	100.50%	-17.71%
Interest Burden Percent	100.00%	86.43%	100.00%	100.00%	98.01%	61.40%	100.00%	100.00%	79.75%	56.91%
Effective Tax Rate	15.10%	17.19%	20.70%	2.66%	-2.92%	148.84%	20.94%	78.11%	-0.50%	117.71%
Return on Invested Capital (ROIC)	33.65%	8.97%	44.27%	8.02%	14.90%	-1.00%	12.26%	3.88%	11.35%	-1.52%
ROIC Less NNEP Spread (ROIC-NNEP)	34.45%	8.59%	43.80%	-83.07%	-15.11%	-1.04%	8.08%	5.64%	10.13%	0.35%
Return on Net Nonoperating Assets (RNNOA)	-12.43%	-3.56%	-16.83%	7.99%	1.12%	0.15%	-1.09%	-0.55%	0.99%	0.03%
Return on Equity (ROE)	21.21%	5.41%	27.44%	16.00%	16.02%	-0.85%	11.17%	3.33%	12.33%	-1.49%
Cash Return on Invested Capital (CROIC)	-48.59%	-55.74%	-38.84%	1.82%	-3.27%	-3.03%	-17.60%	5.75%	-25.39%	-33.07%
Operating Return on Assets (OROA)	12.91%	4.32%	19.82%	22.47%	11.39%	1.41%	8.88%	6.63%	6.69%	4.52%
Return on Assets (ROA)	10.96%	3.09%	15.72%	21.87%	11.49%	-0.42%	7.02%	1.45%	5.36%	-0.46%
Return on Common Equity (ROCE)	21.21%	5.41%	27.55%	16.07%	16.02%	-0.85%	11.21%	3.35%	12.33%	-1.49%
Return on Equity Simple (ROE_SIMPLE)	19.96%	0.00%	17.29%	21.74%	22.24%	0.00%	17.28%	9.06%	6.95%	0.00%
Net Operating Profit after Tax (NOPAT)	24	6.33	32	8.48	18	-1.04	13	4.52	18	-2.33
NOPAT Margin	11.93%	2.91%	14.87%	4.06%	7.59%	-0.48%	6.18%	2.06%	7.28%	-0.93%
Net Nonoperating Expense Percent (NNEP)	-0.80%	0.38%	0.47%	91.08%	30.01%	0.05%	4.19%	-1.76%	1.22%	-1.87%
Return On Investment Capital (ROIC_SIMPLE)	-	1.27%	-	-	-	-0.19%	-	-	-	-0.29%
Cost of Revenue to Revenue	39.15%	40.38%	36.31%	40.42%	40.39%	44.12%	41.16%	41.47%	41.66%	44.92%
SG&A Expenses to Revenue	14.79%	17.71%	15.71%	18.24%	16.11%	15.26%	14.97%	16.54%	17.57%	18.63%
R&D to Revenue	8.59%	7.86%	7.16%	13.99%	12.05%	10.79%	9.82%	9.02%	11.42%	7.55%
Operating Expenses to Revenue	46.79%	56.10%	44.94%	55.41%	52.24%	54.90%	51.03%	49.14%	51.09%	49.83%
Earnings before Interest and Taxes (EBIT)	27	9.85	41	51	28	3.36	20	17	22	14
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	45	28	60	71	49	24	42	38	44	37
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.02	4.00	5.24	3.26	2.51	3.17	3.00	2.64	2.40	2.04
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.12	2.16	2.98	2.02	1.52	1.91	1.86	1.57	1.39	1.13
Price to Earnings (P/E)	20.16	23.50	30.58	15.13	11.27	15.14	17.35	29.41	34.46	29.45
Dividend Yield	1.93%	1.92%	1.41%	2.15%	2.84%	2.31%	2.44%	2.95%	3.31%	3.95%
Earnings Yield	4.96%	4.26%	3.27%	6.61%	8.87%	6.61%	5.76%	3.40%	2.90%	3.40%
Enterprise Value to Invested Capital (EV/IC)	4.22	4.51	6.37	3.57	2.65	3.50	3.17	2.82	2.09	1.79
Enterprise Value to Revenue (EV/Rev)	2.09	2.08	2.87	1.95	1.47	1.83	1.81	1.52	1.55	1.31
Enterprise Value to EBITDA (EV/EBITDA)	10.56	10.71	14.08	8.12	6.21	7.83	8.62	8.89	9.65	7.62
Enterprise Value to EBIT (EV/EBIT)	17.65	18.65	24.29	12.86	9.95	12.86	15.59	20.15	23.18	16.75
Enterprise Value to NOPAT (EV/NOPAT)	19.08	22.02	28.75	21.98	18.99	25.96	38.30	33.43	37.76	31.02
Enterprise Value to Operating Cash Flow (EV/OCF)	11.24	10.88	11.97	8.45	7.68	11.37	19.27	16.73	23.89	37.51
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	211.86	0.00	0.00	0.00	49.76	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.12	0.11	0.00	0.06	0.06	0.06	0.06	0.06	0.53	0.54
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.23	0.23
Financial Leverage	-0.36	-0.41	-0.38	-0.10	-0.07	-0.14	-0.14	-0.10	0.10	0.09
Leverage Ratio	1.86	1.89	1.78	1.95	1.93	1.97	1.84	1.93	2.24	2.24
Compound Leverage Factor	1.86	1.64	1.78	1.95	1.89	1.21	1.84	1.93	1.79	1.28
Debt to Total Capital	10.40%	10.05%	0.00%	5.46%	5.34%	5.39%	5.25%	5.45%	34.81%	34.89%
Short-Term Debt to Total Capital	10.40%	10.05%	0.00%	5.46%	5.34%	5.39%	5.25%	5.45%	19.80%	19.86%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	15.01%	15.02%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	89.60%	89.95%	100.79%	95.24%	94.66%	94.61%	94.75%	95.44%	65.19%	65.11%
Debt to EBITDA	0.31	0.31	0.00	0.15	0.14	0.15	0.16	0.20	1.92	1.73
Net Debt to EBITDA	-0.16	-0.41	0.00	-0.28	-0.22	-0.35	-0.23	-0.30	1.02	1.04
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.83	0.74
Debt to NOPAT	0.56	0.64	0.00	0.40	0.44	0.49	0.73	0.75	7.53	7.04
Net Debt to NOPAT	-0.29	-0.83	0.00	-0.76	-0.67	-1.14	-1.01	-1.12	3.99	4.22
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.25	3.03
Altman Z-Score	3.79	3.65	5.59	3.43	2.91	3.10	3.18	2.90	1.65	1.57
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	-0.41%	-0.41%	0.00%	0.00%	-0.37%	-0.84%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.45	0.56	0.57	0.67	0.64	0.65	0.60	0.56	0.42	0.41
Quick Ratio	0.36	0.48	0.46	0.37	0.38	0.42	0.38	0.40	0.34	0.33
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-206	-222	-162	-59	-65	-75	-106	-8.66	-166	-231
Operating Cash Flow to CapEx	276.46%	504.47%	539.38%	284.21%	84.54%	341.88%	57.40%	308.15%	-78.48%	89.33%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	-115.13	0.00	0.00	0.00	-37.24	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	17.82	0.00	0.00	0.00	-2.60	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-3.26	0.00	0.00	0.00	-5.92	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.97	0.96	1.03	0.91	0.94	0.91	0.93	0.88	0.76	0.80
Accounts Receivable Turnover	16.64	14.40	18.14	15.31	12.67	11.04	12.28	11.12	10.16	10.04
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	15.69	16.13	15.80	15.11	14.95	14.72	14.56	14.45	13.82	14.31
Accounts Payable Turnover	52.62	36.39	43.11	55.14	50.64	43.29	42.29	44.41	34.16	43.24
Days Sales Outstanding (DSO)	21.93	25.34	20.13	23.85	28.80	33.05	29.73	32.83	35.92	36.37
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	6.94	10.03	8.47	6.62	7.21	8.43	8.63	8.22	10.68	8.44
Cash Conversion Cycle (CCC)	14.99	15.31	11.66	17.23	21.60	24.62	21.10	24.61	25.24	27.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	404	382	381	462	487	457	499	476	671	685
Invested Capital Turnover	2.82	3.08	2.98	1.97	1.96	2.09	1.99	1.89	1.56	1.64
Increase / (Decrease) in Invested Capital	230	228	194	67	82	74	119	13	184	228
Enterprise Value (EV)	1,706	1,723	2,423	1,651	1,288	1,599	1,581	1,342	1,401	1,224
Market Capitalization	1,732	1,788	2,519	1,708	1,333	1,669	1,623	1,387	1,253	1,058
Book Value per Share	$11.97	$12.49	$13.40	$14.52	$14.74	$14.76	$15.21	$14.66	$14.76	$14.87
Tangible Book Value per Share	($3.39)	($3.00)	($1.96)	($1.71)	($1.22)	($1.14)	($1.02)	($1.17)	($9.32)	($8.60)
Total Capital	481	497	477	550	562	557	571	550	802	796
Total Debt	50	50	0.00	30	30	30	30	30	279	278
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	120	120
Net Debt	-26	-65	-96	-57	-45	-70	-42	-45	148	166
Capital Expenditures (CapEx)	14	12	12	10	12	9.93	14	9.08	15	8.92
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-225	-233	-230	-191	-200	-230	-216	-236	-359	-322
Debt-free Net Working Capital (DFNWC)	-149	-118	-135	-104	-125	-130	-144	-161	-227	-211
Net Working Capital (NWC)	-199	-168	-135	-134	-155	-160	-174	-191	-386	-369
Net Nonoperating Expense (NNE)	1.31	-0.71	-0.83	-42	-11	-0.03	-2.88	0.90	0.63	-0.90
Net Nonoperating Obligations (NNO)	-26	-65	-96	-57	-45	-70	-42	-45	148	166
Total Depreciation and Amortization (D&A)	18	19	19	19	21	20	21	21	22	23
Debt-free, Cash-free Net Working Capital to Revenue	-27.61%	-28.17%	-27.30%	-22.61%	-22.86%	-26.33%	-24.71%	-26.71%	-39.74%	-34.48%
Debt-free Net Working Capital to Revenue	-18.27%	-14.26%	-15.94%	-12.31%	-14.26%	-14.84%	-16.49%	-18.25%	-25.18%	-22.58%
Net Working Capital to Revenue	-24.39%	-20.30%	-15.94%	-15.86%	-17.69%	-18.27%	-19.93%	-21.64%	-42.78%	-39.49%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.64	$0.20	$0.92	$1.39	$0.79	($0.03)	$0.45	$0.10	$0.50	($0.03)
Adjusted Weighted Average Basic Shares Outstanding	35.93M	36.04M	35.86M	36.05M	35.91M	35.88M	35.59M	35.70M	35.17M	35.33M
Adjusted Diluted Earnings per Share	$0.64	$0.20	$0.90	$1.37	$0.79	($0.02)	$0.45	$0.10	$0.50	($0.04)
Adjusted Weighted Average Diluted Shares Outstanding	36.27M	36.55M	36.58M	36.41M	36.08M	36.24M	36.07M	35.98M	35.47M	35.66M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	35.82M	35.84M	36.05M	36.08M	35.71M	35.54M	35.84M	35.42M	34.86M	34.89M
Normalized Net Operating Profit after Tax (NOPAT)	24	6.33	32	8.48	12	1.49	13	14	13	9.20
Normalized NOPAT Margin	11.93%	2.91%	14.87%	4.06%	5.16%	0.68%	6.18%	6.57%	5.07%	3.68%
Pre Tax Income Margin	13.30%	3.91%	19.24%	24.60%	11.84%	0.95%	9.51%	7.53%	6.99%	3.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	50.13	0.00	0.00	0.00	4.94	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	31.48	0.00	0.00	0.00	4.10	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	29.06	0.00	0.00	0.00	1.62	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	10.41	0.00	0.00	0.00	0.78	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	39.16%	45.45%	43.15%	32.41%	31.78%	35.07%	42.40%	86.11%	114.38%	117.95%
Augmented Payout Ratio	150.64%	142.01%	43.15%	50.61%	47.85%	60.64%	42.40%	181.10%	254.09%	233.70%

Frequently Asked Questions About Shutterstock's Financials

When does Shutterstock's financial year end?

According to the most recent income statement we have on file, Shutterstock's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Shutterstock's net income changed over the last 2 years?

Shutterstock's net income appears to be on a downward trend, with a most recent value of $35.93 million in 2024, falling from $76.10 million in 2022. The previous period was $110.27 million in 2023.

What is Shutterstock's operating income?

Shutterstock's total operating income in 2024 was $68.71 million, based on the following breakdown:

Total Gross Profit: $538.97 million
Total Operating Expenses: $470.26 million

How has Shutterstock revenue changed over the last 2 years?

Over the last 2 years, Shutterstock's total revenue changed from $827.83 million in 2022 to $935.26 million in 2024, a change of 13.0%.

How much debt does Shutterstock have?

Shutterstock's total liabilities were at $790.81 million at the end of 2024, a 55.4% increase from 2023, and a 82.3% increase since 2022.

How much cash does Shutterstock have?

In the past 2 years, Shutterstock's cash and equivalents has ranged from $100.49 million in 2023 to $115.15 million in 2022, and is currently $111.25 million as of their latest financial filing in 2024.

How has Shutterstock's book value per share changed over the last 2 years?

Over the last 2 years, Shutterstock's book value per share changed from 12.49 in 2022 to 14.87 in 2024, a change of 19.0%.

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This page (NYSE:SSTK) was last updated on 4/15/2025 by MarketBeat.com Staff

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Shutterstock (SSTK) Financials

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