Shutterstock, Inc. Financial Ratios — SSTK Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	63.2	33.37	22.47	28.84	12.17	44.29	18.03	49.45	46.1	30.36	35.89	10.57	13.54
Return on Assets (%)	112.94	55.29	12.44	6.67	4.58	6.72	3.1	9.86	3.46	10.55	11.62	8.78	11.5	3.06	3.41
Return on Capital (%)	-55.7	- -	58.97	33.37	22.47	28.84	12.17	44.29	14.88	37.85	38.53	24.75	29.48	8.08	8.8
Return on Invested Capital (%)	- -	- -	18.69	9.94	8.29	11.13	4.68	8.65	4.77	15.84	18.95	17.44	10.66	5.39	5.12
Gross Margin (%)	62.17	61.87	61.52	60.36	58.95	58.91	58.16	57.05	57.24	61.07	64.1	62.03	59.68	57.63	58.9
EBITDA Margin (%)	20.3	14.44	20.04	14.32	13.14	13.3	11.1	12.53	10.77	18.99	20.28	21.84	16.94	16.72	16.76
Operating Margin (%)	19.03	12.88	18.39	11.9	9.65	9.26	4.73	5.21	3.1	12.79	13.98	13.56	7.82	7.35	7.58
Incremental Operating Margin (%)	8.3	-2.1	32.57	-4.63	2.04	6.89	-30.95	9.23	-45.09	402.84	21.4	7.69	-93.86	0.51	11.62
Pretax Margin (%)	19.04	12.86	18.42	11.64	8.06	9	5.4	10.61	3.83	13.43	13.54	11	14	6.69	7.61
Profit Margin (%)	18.18	28.03	11.24	6.74	4.6	6.6	3	8.77	3.09	10.76	11.88	9.19	12.61	3.84	4.6
Net Income to Common Margin (%)	12.24	22.72	11.24	6.74	4.6	6.6	3	8.77	3.09	10.76	11.88	9.19	12.61	3.84	4.6
Effective Tax Rate (%)	4.52	- -	38.95	42.14	42.95	26.67	44.39	17.28	19.3	19.84	12.27	16.4	9.96	42.55	39.61
Dvd Payout Ratio (%)	145.59	70.05	- -	- -	- -	- -	- -	191.86	- -	34	33.36	45.45	35.07	117.95	102.27
Sustainable Growth Rate (%)	- -	- -	63.2	33.37	22.47	28.84	12.17	-40.68	18.03	32.64	30.72	16.56	23.3	-1.9	-0.31

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	6	- -	- -	- -	- -	- -	- -	47	42	37	86	59	301	292
ST Debt	- -	6	- -	- -	- -	- -	- -	- -	- -	- -	- -	50	30	158	158
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	47	42	37	36	29	143	134
Total Debt/EBITDA	- -	0.24	- -	- -	- -	- -	- -	- -	0.68	0.33	0.24	0.47	0.4	1.93	1.76
Net Debt/EBITDA	-0.58	-3.92	-3.29	-4.97	-4.32	-3.41	-4.1	-2.96	-4.33	-3.38	-2	-0.36	-0.48	1.06	0.58
Total Debt/EBIT	- -	0.27	- -	- -	- -	- -	- -	- -	2.35	0.49	0.34	0.76	0.87	4.38	3.89
Net Debt/EBIT	-0.62	-4.4	-3.59	-5.98	-5.88	-4.9	-9.62	-7.11	-15.05	-5.03	-2.9	-0.58	-1.03	2.42	1.29
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2,341.45	135.3	79.77	14.8	9.86
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2,209	122.71	73.79	14.42	9.48
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1,613.52	84.05	36.83	6.51	4.46
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	2	11	17
Common Equity/Total Assets	-233.06	19.48	19.8	20.13	20.63	25.8	25.18	19.09	19.28	23.12	27	30.8	33.11	25.71	24.75
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	14.42	9.86	7.89	7.96	5.58	27.58	23.04
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	28.02	19.79	13.85	9.97	7.31	22.42	21.33
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	7.5	5.7	4.34	4.04	2.84	10.92	9.87
Total Debt/Equity (%)	- -	7.8	- -	- -	- -	- -	- -	- -	14.42	9.86	7.89	19.13	11.27	58.08	50.25
Total Debt/Capital (%)	- -	17.32	- -	- -	- -	- -	- -	- -	28.02	19.79	13.85	23.98	14.76	47.21	46.53
Total Debt/Total Assets (%)	- -	4.08	- -	- -	- -	- -	- -	- -	7.5	5.7	4.34	9.72	5.73	23	21.53
Net Debt to Equity	58.24	-124.91	-85.08	-92.85	-83.62	-78.2	-80.56	-80.53	-92.42	-101.58	-67.03	-14.56	-13.37	32.11	16.61
Net Debt/Capital (%)	36.81	142.48	155.03	149.45	166.99	236.6	234.84	178.41	225.67	196.36	666.39	-26.93	-23.34	31.62	21.48
EBITDA	24	24	47	47	56	66	62	78	70	127	157	181	148	156	166
EBITDA-CapEx	24	24	47	46	53	58	59	74	67	124	148	164	137	152	159
Operating Income (Loss)	23	22	43	39	41	46	26	32	20	85	108	112	68	69	75

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	0.3	1.47	2.28	2.4	1.79	1.37	1.03	1.03	1.23	1.67	0.94	0.3	0.22	0.18	0.28
Current Ratio	0.39	1.82	2.65	2.69	2.04	1.67	1.39	1.37	1.53	1.9	1.16	0.56	0.65	0.41	0.54
Quick Ratio	0.34	1.52	2.37	2.54	1.97	1.56	1.23	1.22	1.42	1.84	1.08	0.48	0.42	0.33	0.46
CFO/Avg Current Liab	1.02	0.79	0.7	0.78	0.62	0.55	0.48	0.44	0.44	0.66	0.73	0.44	0.34	0.06	0.27
Common Equity/Total Assets	-233.06	19.48	19.8	20.13	20.63	25.8	25.18	19.09	19.28	23.12	27	30.8	33.11	25.71	24.75
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	14.42	9.86	7.89	7.96	5.58	27.58	23.04
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	28.02	19.79	13.85	9.97	7.31	22.42	21.33
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	7.5	5.7	4.34	4.04	2.84	10.92	9.87
Total Debt/Equity (%)	- -	7.8	- -	- -	- -	- -	- -	- -	14.42	9.86	7.89	19.13	11.27	58.08	50.25
Total Debt/Capital (%)	- -	17.32	- -	- -	- -	- -	- -	- -	28.02	19.79	13.85	23.98	14.76	47.21	46.53
Total Debt/Total Assets (%)	- -	4.08	- -	- -	- -	- -	- -	- -	7.5	5.7	4.34	9.72	5.73	23	21.53
CFO/Total Liabilities	80.61	64.88	58.79	62.61	48.19	46.83	41.05	41.75	33.95	53.64	56.46	36.53	27.62	4.13	21.51
CFO/CapEx	- -	179.27	- -	114.92	29.19	12.52	36.49	26.63	30.7	55.58	24.38	9.42	12.67	8.1	25.62
Altman's Z-Score	3.24	7.7	20.03	13.23	6.17	7	5.56	5.43	5.03	7.39	9.32	6.85	5.01	3.24	2.92

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	241.27	142.24	60.24	30.75	19.45	14.85	12.66	13.7	14.78	14.67	16.9	14.4	11.04	10.04	9.53
Days Sales Outstanding	1.51	2.57	6.06	11.87	18.77	24.58	28.84	26.63	24.7	24.87	21.6	25.34	33.05	36.37	38.32
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	39.47	29.11	26.77	27.38	28.73	28.77	32.23	37.25	41.78	60.75	44.3	36.39	43.29	43.24	35.2
Accounts Payable Turnover Days	9.25	12.54	13.63	13.33	12.71	12.69	11.32	9.8	8.74	6.01	8.24	10.03	8.43	8.44	10.37
Cash Conversion Cycle	-7.74	-9.97	-7.57	-1.46	6.06	11.89	17.52	16.84	15.96	18.86	13.37	15.31	24.62	27.92	27.95
Inventory to Cash Days	1.51	2.57	6.06	11.87	18.77	24.58	28.84	26.63	24.7	24.87	21.6	25.34	33.05	36.37	38.32
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	618	2,833	2,435	1,160	1,669	1,490	1,258	1,513	2,570	4,048	1,900	1,732	1,072	674
- Cash & Cash Equivalents	14	102	155	233	241	224	253	231	303	429	314	115	100	111	178
+ Preferred Equity and Hybrid Capital	34	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	6	- -	- -	- -	- -	- -	- -	47	42	37	86	59	301	292
Enterprise Value	20	522	2,623	2,146	872	1,389	1,237	1,027	1,257	2,183	3,771	1,871	1,691	1,262	788
Total Capital	-24	35	55	77	97	129	146	101	169	210	267	357	402	638	628
Total Debt/Capital (%)	- -	17.32	- -	- -	- -	- -	- -	- -	28.02	19.79	13.85	23.98	14.76	47.21	46.53
Total Debt / EV	- -	0.01	- -	- -	- -	- -	- -	- -	0.04	0.02	0.01	0.05	0.04	0.24	0.37
EV/Sales	0.16	3.08	11.14	6.54	2.05	2.81	2.22	1.65	1.93	3.27	4.88	2.26	1.93	1.35	0.8
EV/EBITDA	0.8	21.33	55.6	45.71	15.61	21.14	20	13.15	17.94	17.24	24.04	10.35	11.42	8.07	4.75
EV/EBIT	0.86	23.9	60.56	54.99	21.26	30.35	46.93	31.65	62.37	25.6	34.88	16.66	24.72	18.37	10.5
EV/Cash Flow to Firm	0.5	11.47	46.54	25.9	10.02	13.79	11.45	10.05	12.25	13.22	17.42	11.72	11.89	32.6	4.45
EV/Free Cash Flow to Firm	0.5	11.41	46.54	25.68	9.69	12.77	11.14	9.69	11.86	12.99	16.74	10.6	11.03	29.53	4.3
Diluted Market Cap	- -	620	2,879	2,482	1,175	1,704	1,519	1,275	1,526	2,608	4,138	1,927	1,750	1,082	693
Diluted Enterprise Value	20	524	2,724	2,248	933	1,480	1,265	1,045	1,270	2,221	3,861	1,897	1,709	1,272	806
EV per Share	0.94	21.96	77.44	60.92	24.3	39.57	35.71	29.4	35.63	60.9	103.29	51.9	47.13	35.72	22.32
TTM Sales	120	170	236	328	425	494	557	623	651	667	773	828	875	935	990
TTM EBITDA	24	24	47	47	56	66	62	78	70	127	157	181	148	156	166
TTM Operating Income	23	22	43	39	41	46	26	32	20	85	108	112	68	69	75
TTM Cash Flow to Firm	40	46	56	83	87	101	108	102	103	165	216	160	142	39	177
TTM Free Cash Flow to Firm	40	46	56	84	90	109	111	106	106	168	225	176	153	43	183

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	13.53	51.07	29.69	13.05	15.67	13.68	12.03	14.39	15.52	18.37	10.99	11.54	29.51	4
EV/EBIT	0.86	23.9	60.56	54.99	21.26	30.35	46.93	31.65	62.37	25.6	34.88	16.66	24.72	18.37	10.5
Enterprise Value	20	522	2,623	2,146	872	1,389	1,237	1,027	1,257	2,183	3,771	1,871	1,691	1,262	788
Low Price	- -	21	23.31	58.26	27.5	25.44	29.85	31.77	33.26	28.76	62.21	44.61	33.8	28.85	14.35
EV/Sales	0.16	3.08	11.14	6.54	2.05	2.81	2.22	1.65	1.93	3.27	4.88	2.26	1.93	1.35	0.8
EV/EBITDA	0.8	21.33	55.6	45.71	15.61	21.14	20	13.15	17.94	17.24	24.04	10.35	11.42	8.07	4.75
Price/Earnings	- -	16.04	107	110.22	59.35	51.14	89.08	23	75.24	35.81	44.06	24.97	15.71	29.84	14.82
Price/Earnings Average	- -	15.1	66.91	121.71	91.03	49.8	86.78	29.87	70.37	23.75	39.45	31.68	17.38	38.39	16.44
Price/Earnings High	- -	17.67	109.65	164.31	136.35	70.12	114	35.62	87.9	37.09	51	52.88	26.43	53.5	30.1
Price/Earnings Low	- -	12.96	29.82	92.93	50.47	27.38	61.79	20.3	58.36	14.36	24.72	21.13	11	28.37	11.13
Price/Book Value	- -	21.58	51.38	31.52	11.99	12.89	10.24	12.4	12.45	15.23	17.61	7	5.05	3.19	2.01
Price/Book Value Average	- -	20.32	32.13	34.81	18.39	12.55	9.98	16.1	11.64	10.11	15.76	8.88	5.59	4.1	2.23
Price/Book Value High	- -	23.77	52.65	46.99	27.54	17.68	13.1	19.2	14.54	15.78	20.38	14.83	8.5	5.71	4.08
Price/Book Value Low	- -	17.43	14.32	26.58	10.19	6.9	7.1	10.94	9.65	6.11	9.88	5.92	3.53	3.03	1.51
Price/Tangible Book Value	- -	8.3	15.71	10.3	5.58	8.05	8.2	7.46	7.12	8.38	32.43	-17.67	-42.64	-3.58	-3.22
Price/Tangible Book Value Average	- -	7.82	9.83	11.38	8.56	7.84	7.99	9.69	6.66	5.56	29.03	-22.42	-47.17	-4.6	-3.58
Price/Tangible Book Value High	- -	9.14	16.1	15.36	12.83	11.04	10.49	11.56	8.32	8.68	37.54	-37.43	-71.73	-6.41	-6.54
Price/Tangible Book Value Low	- -	6.71	4.38	8.69	4.75	4.31	5.69	6.58	5.52	3.36	18.19	-14.95	-29.85	-3.4	-2.42
Price/Sales	- -	3.65	12.03	7.42	2.73	3.38	2.67	2.02	2.33	3.85	5.23	2.3	1.98	1.15	0.68
Price/Sales Average	- -	3.43	7.52	8.2	4.19	3.29	2.61	2.62	2.18	2.56	4.69	2.91	2.19	1.47	0.76
Price/Sales High	- -	4.01	12.33	11.07	6.27	4.63	3.42	3.13	2.72	3.99	6.06	4.86	3.33	2.06	1.38
Price/Sales Low	- -	2.94	3.35	6.26	2.32	1.81	1.86	1.78	1.8	1.55	2.94	1.94	1.39	1.09	0.51
Price/Cash Flow	- -	13.58	50.26	29.38	13.34	16.57	13.79	12.31	14.74	15.57	18.71	11.99	12.32	32.85	4.04
Price/Cash Flow Average	- -	12.79	31.43	32.45	20.45	16.13	13.44	15.98	13.78	10.33	16.75	15.22	13.63	42.25	4.49
Price/Cash Flow High	- -	14.96	51.5	43.8	30.64	22.72	17.65	19.06	17.22	16.12	21.66	25.4	20.74	58.88	8.21
Price/Cash Flow Low	- -	10.97	14.01	24.77	11.34	8.87	9.57	10.86	11.43	6.24	10.5	10.15	8.63	31.22	3.04
Price/Free Cash Flow Average	- -	12.74	31.94	32.79	20.02	15.26	13.33	15.62	13.46	10.29	16.45	13.95	12.76	37.96	4.44
Price/Free Cash Flow High	- -	14.9	52.34	44.26	29.98	21.48	17.51	18.63	16.82	16.07	21.27	23.28	19.41	52.9	8.13
Price/Free Cash Flow Low	- -	10.93	14.24	25.03	11.1	8.39	9.49	10.61	11.17	6.22	10.31	9.3	8.08	28.05	3.01
EV/Sales Average	0.16	2.87	6.86	7.49	3.62	2.83	2.15	2.25	1.78	1.98	4.33	2.88	2.14	1.68	0.87
EV/Sales High	0.16	3.45	11.67	10.35	5.7	4.18	2.97	2.76	2.32	3.41	5.7	4.83	3.29	2.26	1.5
EV/Sales Low	0.16	2.38	2.69	5.55	1.75	1.35	1.4	1.41	1.41	0.97	2.58	1.91	1.34	1.29	0.63
EV/EBITDA Average	0.8	19.85	34.26	52.29	27.54	21.31	19.38	17.96	16.54	10.41	21.34	13.17	12.66	10.04	5.19
EV/EBITDA High	0.8	23.88	58.24	72.33	43.41	31.4	26.74	21.99	21.57	17.97	28.11	22.1	19.4	13.51	8.94
EV/EBITDA Low	0.8	16.47	13.44	38.75	13.34	10.18	12.62	11.25	13.1	5.09	12.71	8.73	7.91	7.73	3.74
EV/EBIT Average	0.86	22.24	37.32	62.89	37.51	30.59	45.47	43.23	57.5	15.46	30.97	21.21	27.41	22.84	11.48
EV/EBIT High	0.86	26.77	63.44	87	59.11	45.08	62.75	52.91	74.99	26.68	40.79	35.58	42.01	30.74	19.76
EV/EBIT Low	0.86	18.46	14.64	46.61	18.17	14.61	29.61	27.09	45.53	7.55	18.45	14.06	17.13	17.6	8.26
Last Price	- -	26	83.63	69.1	32.34	47.52	43.03	36.01	42.88	71.7	110.88	52.72	48.28	30.35	19.1
High Price	- -	28.63	85.7	103.01	74.3	65.16	55.07	55.76	50.09	74.26	128.36	111.66	81.23	54.41	38.8
Enterprise Value Average	20	486	1,616	2,455	1,538	1,401	1,198	1,403	1,159	1,318	3,348	2,381	1,875	1,569	862
Enterprise Value High	20	585	2,748	3,396	2,425	2,064	1,653	1,717	1,511	2,275	4,409	3,995	2,873	2,112	1,483
Enterprise Value Low	20	403	634	1,819	745	669	780	879	918	644	1,994	1,578	1,172	1,209	620

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	33	34	35	36	36	35	35	35	35	36	36	36	36	35	36
Diluted Weighted Avg Shares	21	24	34	36	36	36	35	35	36	36	37	37	36	36	36
Basic Weighted Avg Shares	21	24	34	35	36	35	35	35	35	36	37	36	36	35	35
Revenue per Share	5.77	7.13	6.95	9.31	11.85	14.08	16.09	17.84	18.44	18.6	21.18	22.97	24.38	26.47	28.05
EBITDA per Share	1.17	1.03	1.39	1.33	1.56	1.87	1.79	2.24	1.99	3.53	4.3	5.02	4.13	4.42	4.7
Operating Income per Share	1.1	0.92	1.28	1.11	1.14	1.3	0.76	0.93	0.57	2.38	2.96	3.12	1.91	1.94	2.13
Basic EPS, GAAP	0.71	1.62	0.78	0.63	0.54	0.93	0.48	1.57	0.57	2	2.52	2.11	3.07	1.02	1.29
Basic EPS from Cont Ops	1.05	2	0.78	0.63	0.54	0.93	0.48	1.57	0.57	2	2.52	2.11	3.07	1.02	1.29
Diluted EPS, GAAP	0.71	1.62	0.77	0.62	0.54	0.91	0.47	1.54	0.57	1.97	2.46	2.08	3.04	1.01	1.25
Diluted EPS from Cont Ops	1.05	1.99	0.77	0.62	0.54	0.91	0.47	1.54	0.57	1.97	2.46	2.08	3.04	1.01	1.25
Dividend per Share	1.37	1.51	- -	- -	- -	- -	- -	3	- -	0.68	0.84	0.96	1.08	1.2	1.32
Cash Flow per Share	1.9	1.91	1.66	2.35	2.43	2.87	3.12	2.93	2.91	4.61	5.93	4.4	3.92	0.92	4.72
Free Cash Flow per Basic Share	1.9	1.9	1.66	2.33	2.34	2.64	3.03	2.82	2.81	4.52	5.68	3.93	3.61	0.81	4.54
Cash & Equivalents per Share	0.68	4.29	6.19	8.18	8.04	7.95	7.32	6.61	8.59	11.96	8.6	3.19	2.8	3.15	5.05
Book Value per Share	-2.78	1.2	1.63	2.19	2.7	3.69	4.2	2.9	3.45	4.71	6.3	7.53	9.56	9.53	9.51
Tangible Book Value per Share	-2.9	3.13	5.32	6.71	5.79	5.9	5.25	4.82	6.02	8.56	3.42	-2.98	-1.13	-8.49	-5.93

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Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)