Latest Ratios: P/E Ratio 3.0x · EV/EBITDA 1.4x · ROE 8.3%. (2010–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $140M | $693M | $1.1B | $1.7B | $1.9B | $4.1B | $2.6B | $1.5B | $1.3B | $1.5B | $1.7B |
| Enterprise Value | $279M | $832M | $1.3B | $1.7B | $1.9B | $3.9B | $2.2B | $1.3B | $1.0B | $1.3B | $1.5B |
| P/E Ratio → | 3.05 | 15.28 | 30.05 | 15.88 | 25.35 | 45.07 | 36.40 | 75.23 | 23.38 | 91.55 | 52.22 |
| P/S Ratio | 0.14 | 0.70 | 1.16 | 2.00 | 2.33 | 5.35 | 3.91 | 2.35 | 2.05 | 2.73 | 3.45 |
| P/B Ratio | 0.24 | 1.19 | 2.09 | 3.32 | 4.31 | 8.83 | 6.18 | 4.65 | 4.45 | 4.83 | 5.94 |
| P/FCF | 1.13 | 5.59 | — | 20.63 | 19.59 | 23.07 | 19.11 | 20.84 | 20.09 | 30.36 | 32.07 |
| P/OCF | 0.84 | 4.16 | 33.15 | 12.45 | 12.16 | 19.13 | 15.80 | 14.86 | 12.48 | 14.06 | 16.85 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.84 | 1.37 | 1.95 | 2.29 | 4.99 | 3.33 | 1.95 | 1.68 | 2.27 | 2.99 |
| EV / EBITDA | 1.39 | 4.14 | 8.20 | 11.54 | 11.70 | 24.61 | 17.54 | 18.12 | 13.37 | 20.46 | 22.51 |
| EV / EBIT | 2.54 | 9.03 | 17.53 | 13.74 | 20.54 | 36.84 | 26.04 | 63.00 | 32.19 | 48.01 | 32.32 |
| EV / FCF | — | 6.72 | — | 20.15 | 19.29 | 21.53 | 16.27 | 17.34 | 16.46 | 25.30 | 27.85 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.2% | 58.2% | 57.6% | 59.7% | 62.0% | 64.1% | 61.1% | 57.2% | 57.1% | 58.2% | 58.9% |
| Operating Margin | 11.1% | 11.1% | 7.3% | 7.8% | 11.3% | 14.0% | 12.8% | 3.1% | 5.2% | 4.7% | 9.3% |
| Net Profit Margin | 4.6% | 4.6% | 3.8% | 12.6% | 9.2% | 11.9% | 10.8% | 3.1% | 8.8% | 3.0% | 6.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.3% | 8.3% | 6.9% | 22.6% | 16.6% | 20.6% | 19.1% | 6.5% | 18.2% | 5.6% | 11.3% |
| ROA | 3.4% | 3.4% | 3.1% | 11.5% | 8.8% | 11.6% | 10.6% | 3.5% | 9.9% | 3.1% | 6.7% |
| ROIC | 11.5% | 11.5% | 8.6% | 11.4% | 23.0% | 71.6% | 119.3% | 23.6% | 41.6% | 32.0% | 62.6% |
| ROCE | 15.6% | 15.6% | 10.8% | 12.7% | 18.4% | 21.8% | 19.9% | 5.8% | 10.1% | 8.4% | 15.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.55 | 0.55 | 0.60 | 0.11 | 0.19 | 0.08 | 0.10 | 0.14 | — | — | — |
| Debt / EBITDA | 1.58 | 1.58 | 1.99 | 0.40 | 0.53 | 0.24 | 0.33 | 0.68 | — | — | — |
| Net Debt / Equity | — | 0.24 | 0.38 | -0.08 | -0.07 | -0.59 | -0.92 | -0.78 | -0.81 | -0.81 | -0.78 |
| Net Debt / EBITDA | 0.69 | 0.69 | 1.28 | -0.28 | -0.18 | -1.77 | -3.06 | -3.65 | -2.96 | -4.10 | -3.41 |
| Debt / FCF | — | 1.13 | — | -0.48 | -0.30 | -1.54 | -2.84 | -3.50 | -3.64 | -5.07 | -4.22 |
| Interest Coverage | 5.48 | 5.48 | 6.92 | 66.99 | 69.14 | 1564.22 | — | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.54 | 0.54 | 0.41 | 0.65 | 0.56 | 1.16 | 1.90 | 1.53 | 1.37 | 1.39 | 1.67 |
| Quick Ratio | 0.54 | 0.54 | 0.41 | 0.65 | 0.56 | 1.16 | 1.90 | 1.53 | 1.37 | 1.39 | 1.67 |
| Cash Ratio | 0.28 | 0.28 | 0.18 | 0.22 | 0.30 | 0.94 | 1.67 | 1.23 | 1.03 | 1.03 | 1.37 |
| Asset Turnover | — | 0.73 | 0.71 | 0.84 | 0.94 | 0.91 | 0.91 | 1.03 | 1.17 | 0.96 | 0.99 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 41.53 | 37.16 | 38.04 | 29.65 | 22.51 | 24.00 | 26.38 | 24.03 | 32.71 | 28.14 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 33.7% | 6.7% | 3.9% | 2.2% | 1.8% | 0.7% | 0.9% | — | 8.2% | — | — |
| Payout Ratio | 102.3% | 102.3% | 118.0% | 35.1% | 45.5% | 33.4% | 34.0% | — | 191.9% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 32.8% | 6.5% | 3.3% | 6.3% | 3.9% | 2.2% | 2.7% | 1.3% | 4.3% | 1.1% | 1.9% |
| FCF Yield | 88.5% | 17.9% | — | 4.8% | 5.1% | 4.3% | 5.2% | 4.8% | 5.0% | 3.3% | 3.1% |
| Buyback Yield | 6.7% | 1.4% | 3.8% | 1.6% | 3.8% | 0.6% | 0.0% | 0.0% | 0.6% | 1.6% | 3.5% |
| Total Shareholder Yield | 40.4% | 8.1% | 7.8% | 3.8% | 5.6% | 1.4% | 0.9% | 0.0% | 8.8% | 1.6% | 3.5% |
| Shares Outstanding | — | $36M | $36M | $36M | $37M | $37M | $36M | $36M | $35M | $35M | $36M |
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying SSTK stock.
Shutterstock, Inc.'s current P/E ratio is 3.0x. The historical average is 50.5x.
Shutterstock, Inc.'s current EV/EBITDA is 1.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.2x.
Shutterstock, Inc.'s return on equity (ROE) is 8.3%. The historical average is 13.4%.
Based on historical data, Shutterstock, Inc. is trading at a P/E of 3.0x. Compare with industry peers and growth rates for a complete picture.
Shutterstock, Inc.'s current dividend yield is 33.67% with a payout ratio of 102.3%.
Shutterstock, Inc. has 58.2% gross margin and 11.1% operating margin. Operating margin between 10-20% is typical for established companies.
Shutterstock, Inc.'s Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Generative AI disruption risk
Metrics are mathematically derived from official filings.
Market Pricing Reflects Deep Skepticism
Based on reported figures, Shutterstock's P/S ratio of 0.53 and EV/EBITDA of 3.29 suggest the market is pricing the firm as a declining legacy asset rather than a growth-oriented AI utility, significantly discounting the company relative to broader software-as-a-service peers like Adobe.
The current valuation multiples imply that investors are heavily discounting the company's future cash flows, likely due to concerns regarding the long-term viability of its core licensing model in an AI-dominated landscape. This valuation gap warrants investigation into whether the market is failing to account for the potential upside of the Data segment or if the current pricing accurately reflects the structural risks of content commoditization.
Capital Efficiency Trends Toward Decay
As reported in financial statements, Shutterstock's ROIC has deteriorated from a peak of 3.5% in 2025Q2 to -3.4% in 2026Q1, indicating that recent capital allocation decisions, including aggressive M&A activity, have failed to generate sufficient returns to cover the company's cost of capital.
The consistent decline in ROIC suggests that the company is struggling to maintain its competitive moat while integrating disparate acquisitions. Investors should monitor whether this trend is a temporary byproduct of integration costs or a structural decay in the company's ability to compound value through its existing asset base.
Working Capital Management Remains Stagnant
According to recent SEC filings, Shutterstock's asset turnover has remained suppressed at 0.15 in 2026Q1, while DSO has fluctuated near 49 days, suggesting that the company is not effectively leveraging its asset base to drive revenue growth or optimize its cash conversion cycle.
The lack of improvement in asset turnover indicates that the company's heavy investment in intangible assets and acquisitions has not yet translated into proportional revenue gains. This inefficiency may be exacerbated by the company's reliance on legacy subscription models that are increasingly sensitive to customer churn and competitive pricing pressures.
Misapplication of Traditional P/E Multiples
Based on the company's current financial profile, the P/E ratio is a misleading metric for Shutterstock, as it obscures the impact of significant non-cash amortization charges from recent acquisitions and the volatility of earnings caused by lumpy, high-value AI data licensing deals.
Analysts should instead focus on EV/Revenue or adjusted EBITDA metrics to better capture the underlying operational performance of the business. Relying on P/E in this context may lead to an inaccurate assessment of the company's true earning power, as it fails to account for the capital-intensive nature of the company's current growth strategy.