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Shutterstock

NYSE:SSTK
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SSTK
NYSE
$1B
Market Cap
  1. Home
  2. US
  3. Retail
Company description

Shutterstock, Inc. provides digital content, and tools and services in North America, Europe, and internationally. The last earnings update was 84 days ago. More info.


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SSTK Share Price and Events
7 Day Returns
1.4%
NYSE:SSTK
1.7%
US Online Retail
0.6%
US Market
1 Year Returns
-22.1%
NYSE:SSTK
0.9%
US Online Retail
4.1%
US Market
SSTK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shutterstock (SSTK) 1.4% -1.7% -15.9% -22.1% -26.7% -50.8%
US Online Retail 1.7% 7.2% 2.5% 0.9% 120.7% 219.1%
US Market 0.6% 3.8% 2.8% 4.1% 37.3% 42.5%
1 Year Return vs Industry and Market
  • SSTK underperformed the Online Retail industry which returned 0.9% over the past year.
  • SSTK underperformed the Market in United States of America which returned 4.1% over the past year.
Price Volatility
SSTK
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Shutterstock undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Shutterstock to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Shutterstock.

NYSE:SSTK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:SSTK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Online Retail Unlevered Beta Simply Wall St/ S&P Global 1.64
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.64 (1 + (1- 21%) (4.21%))
1.466
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.47
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.466 * 5.96%)
11.47%

Discounted Cash Flow Calculation for NYSE:SSTK using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Shutterstock is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:SSTK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.47%)
2020 46.29 Est @ -3.09% 41.53
2021 45.67 Est @ -1.35% 36.76
2022 45.61 Est @ -0.12% 32.93
2023 45.95 Est @ 0.73% 29.76
2024 46.56 Est @ 1.33% 27.06
2025 47.37 Est @ 1.75% 24.70
2026 48.34 Est @ 2.04% 22.61
2027 49.43 Est @ 2.25% 20.74
2028 50.61 Est @ 2.39% 19.05
2029 51.88 Est @ 2.5% 17.52
Present value of next 10 years cash flows $272.67
NYSE:SSTK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $51.88 × (1 + 2.73%) ÷ (11.47% – 2.73%)
$610.08
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $610.08 ÷ (1 + 11.47%)10
$206.06
NYSE:SSTK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $272.67 + $206.06
$478.74
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $478.74 / 35.22
$13.59
NYSE:SSTK Discount to Share Price
Calculation Result
Value per share (USD) From above. $13.59
Current discount Discount to share price of $38.86
= -1 x ($38.86 - $13.59) / $13.59
-185.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Shutterstock is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Shutterstock's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shutterstock's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:SSTK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.85
NYSE:SSTK Share Price ** NYSE (2019-07-17) in USD $38.86
United States of America Online Retail Industry PE Ratio Median Figure of 29 Publicly-Listed Online Retail Companies 35.28x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.98x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Shutterstock.

NYSE:SSTK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:SSTK Share Price ÷ EPS (both in USD)

= 38.86 ÷ 0.85

45.93x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shutterstock is overvalued based on earnings compared to the US Online Retail industry average.
  • Shutterstock is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Shutterstock's expected growth come at a high price?
Raw Data
NYSE:SSTK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 45.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
24.6%per year
United States of America Online Retail Industry PEG Ratio Median Figure of 23 Publicly-Listed Online Retail Companies 2.23x
United States of America Market PEG Ratio Median Figure of 2,122 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

NYSE:SSTK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 45.93x ÷ 24.6%

1.87x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shutterstock is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Shutterstock's assets?
Raw Data
NYSE:SSTK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $8.38
NYSE:SSTK Share Price * NYSE (2019-07-17) in USD $38.86
United States of America Online Retail Industry PB Ratio Median Figure of 65 Publicly-Listed Online Retail Companies 2.96x
United States of America Market PB Ratio Median Figure of 5,241 Publicly-Listed Companies 1.81x
NYSE:SSTK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:SSTK Share Price ÷ Book Value per Share (both in USD)

= 38.86 ÷ 8.38

4.64x

* Primary Listing of Shutterstock.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shutterstock is overvalued based on assets compared to the US Online Retail industry average.
X
Value checks
We assess Shutterstock's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Online Retail industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Online Retail industry average (and greater than 0)? (1 check)
  5. Shutterstock has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Shutterstock expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
24.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shutterstock expected to grow at an attractive rate?
  • Shutterstock's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Shutterstock's earnings growth is expected to exceed the United States of America market average.
  • Shutterstock's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:SSTK Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:SSTK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 24.6%
NYSE:SSTK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 8.5%
United States of America Online Retail Industry Earnings Growth Rate Market Cap Weighted Average 26.3%
United States of America Online Retail Industry Revenue Growth Rate Market Cap Weighted Average 16.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:SSTK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:SSTK Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 952 181 90 1
2022-12-31 887 163 74 1
2021-12-31 819 146 59 1
2020-12-31 752 131 43 4
2019-12-31 687 124 33 3
NYSE:SSTK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 634 101 30
2018-12-31 623 102 55
2018-09-30 613 105 42
2018-06-30 602 106 39
2018-03-31 580 112 43
2017-12-31 557 108 17
2017-09-30 535 96 25
2017-06-30 517 101 29
2017-03-31 508 96 33
2016-12-31 494 101 33
2016-09-30 480 102 30
2016-06-30 464 85 24

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Shutterstock's earnings are expected to grow significantly at over 20% yearly.
  • Shutterstock's revenue is expected to grow by 8.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:SSTK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Shutterstock Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:SSTK Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.43 2.43 2.43 1.00
2022-12-31 2.01 2.01 2.01 1.00
2021-12-31 1.61 1.61 1.61 1.00
2020-12-31 1.18 1.25 1.05 3.00
2019-12-31 0.91 1.03 0.75 3.00
NYSE:SSTK Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.85
2018-12-31 1.57
2018-09-30 1.20
2018-06-30 1.13
2018-03-31 1.23
2017-12-31 0.48
2017-09-30 0.71
2017-06-30 0.83
2017-03-31 0.95
2016-12-31 0.93
2016-09-30 0.84
2016-06-30 0.68

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Shutterstock will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Shutterstock's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Shutterstock has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Shutterstock performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Shutterstock's growth in the last year to its industry (Online Retail).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Shutterstock's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Shutterstock's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Shutterstock's 1-year earnings growth is negative, it can't be compared to the US Online Retail industry average.
Earnings and Revenue History
Shutterstock's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Shutterstock Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:SSTK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 633.56 29.63 267.67 57.44
2018-12-31 623.25 54.69 264.23 58.90
2018-09-30 613.01 41.83 261.05 62.42
2018-06-30 602.50 39.39 260.01 61.73
2018-03-31 579.91 42.71 254.20 57.89
2017-12-31 557.11 16.73 243.07 52.49
2017-09-30 535.46 24.53 230.03 50.27
2017-06-30 517.47 28.92 216.69 48.53
2017-03-31 507.89 33.10 205.88 47.61
2016-12-31 494.32 32.63 195.96 47.79
2016-09-30 480.15 29.64 190.07 44.42
2016-06-30 464.33 24.35 183.91 43.65
2016-03-31 444.28 22.44 176.15 41.86
2015-12-31 425.15 19.55 168.28 41.32
2015-09-30 400.37 19.70 155.86 43.08
2015-06-30 376.84 20.87 142.63 42.12
2015-03-31 352.72 20.38 131.17 41.21
2014-12-31 327.97 22.05 120.61 38.30
2014-09-30 304.78 22.86 111.38 33.39
2014-06-30 280.61 23.77 101.02 29.20
2014-03-31 257.18 25.76 89.57 24.99
2013-12-31 235.52 26.40 79.81 21.76
2013-09-30 216.64 47.30 72.10 19.28
2013-06-30 199.34 47.68 65.37 17.39
2013-03-31 183.16 45.39 61.86 15.77
2012-12-31 169.62 42.63 61.28 14.63
2012-09-30 155.19 18.23 57.96 13.37

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Shutterstock has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Shutterstock used its assets less efficiently than the US Online Retail industry average last year based on Return on Assets.
  • Shutterstock's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Shutterstock's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Online Retail industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Shutterstock has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Shutterstock's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Shutterstock's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Shutterstock is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Shutterstock's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Shutterstock's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Shutterstock has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Shutterstock Company Filings, last reported 3 months ago.

NYSE:SSTK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 294.98 0.00 240.14
2018-12-31 286.67 0.00 230.85
2018-09-30 268.60 0.00 206.41
2018-06-30 358.91 0.00 289.84
2018-03-31 357.16 0.00 284.88
2017-12-31 314.59 0.00 253.43
2017-09-30 307.38 0.00 235.28
2017-06-30 291.54 0.00 265.51
2017-03-31 275.92 0.00 250.30
2016-12-31 286.70 0.00 279.16
2016-09-30 293.35 0.00 290.40
2016-06-30 274.13 0.00 265.89
2016-03-31 277.15 0.00 275.54
2015-12-31 288.57 0.00 288.38
2015-09-30 292.90 0.00 282.10
2015-06-30 283.62 0.00 266.37
2015-03-31 261.81 0.00 245.47
2014-12-31 251.43 0.00 288.30
2014-09-30 230.23 0.00 260.48
2014-06-30 215.47 0.00 235.85
2014-03-31 199.12 0.00 212.97
2013-12-31 182.60 0.00 209.78
2013-09-30 173.20 0.00 195.52
2013-06-30 95.60 0.00 112.80
2013-03-31 83.55 0.00 107.01
2012-12-31 76.93 6.00 102.10
2012-09-30 -29.88 12.00 28.79
  • Shutterstock has no debt.
  • Shutterstock had no debt 5 years ago.
  • Shutterstock has no debt, it does not need to be covered by operating cash flow.
  • Shutterstock has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Shutterstock's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Shutterstock has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Shutterstock's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Shutterstock dividends.
If you bought $2,000 of Shutterstock shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Shutterstock's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Shutterstock's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:SSTK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Global Online Retail Industry Average Dividend Yield Market Cap Weighted Average of 20 Stocks 1.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:SSTK Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Shutterstock has not reported any payouts.
  • Unable to verify if Shutterstock's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Shutterstock's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Shutterstock has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Shutterstock's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Shutterstock afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shutterstock has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Shutterstock's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jon Oringer
COMPENSATION $661
AGE 45
TENURE AS CEO 16.5 years
CEO Bio

Mr. Jonathan Oringer, also known as Jon, founded Shutterstock Images, LLC (also known as, Shutterstock, Inc) in 2003 and has been its Chairman, Chief Executive Officer and Director since 2003. He serves as a Director at The Partnership for New York City, Inc. Mr. Oringer holds a B.S. in computer science and mathematics from State University of New York at Stony Brook and an M.S. in computer science from Columbia University. He has an extensive experience in the commercial digital imagery industry.

CEO Compensation
  • Jon's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jon's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Shutterstock management team in years:

2.1
Average Tenure
49
Average Age
  • The tenure for the Shutterstock management team is about average.
Management Team

Jon Oringer

TITLE
Founder
COMPENSATION
$661
AGE
45
TENURE
16.5 yrs

Lou Weiss

TITLE
Chief Marketing Officer
COMPENSATION
$2M
AGE
50
TENURE
1.4 yrs

Lisa Nadler

TITLE
COMPENSATION
$2M
AGE
56
TENURE
2 yrs

Stan Pavlovsky

TITLE
President & COO
AGE
47
TENURE
0.1 yrs

Steve Ciardiello

TITLE
Interim CFO & Chief Accounting Officer
COMPENSATION
$501K
AGE
48
TENURE
0.1 yrs

Amy Behrman

TITLE
Senior Director of Corporate Development

Heidi Garfield

TITLE
VP, General Counsel & Corporate Secretary
TENURE
2.3 yrs

Siobhan Aalders

TITLE
Head of Global Communications
TENURE
3.4 yrs

David Petts

TITLE
Chief Revenue Officer
AGE
56

Jody Vandergriff

TITLE
Co-Founder & Chief Executive Officer of WebDAM
TENURE
5.7 yrs
Board of Directors Tenure

Average tenure and age of the Shutterstock board of directors in years:

4.8
Average Tenure
54
Average Age
  • The tenure for the Shutterstock board of directors is about average.
Board of Directors

Jon Oringer

TITLE
Founder
COMPENSATION
$661
AGE
45
TENURE
16.5 yrs

Jeff Epstein

TITLE
Independent Director
COMPENSATION
$232K
AGE
63
TENURE
7.3 yrs

Tom Evans

TITLE
Presiding Director
COMPENSATION
$227K
AGE
64
TENURE
4.8 yrs

Deirdre Bigley

TITLE
Independent Director
COMPENSATION
$220K
AGE
54
TENURE
3.2 yrs

Paul Hennessy

TITLE
Independent Director
COMPENSATION
$225K
AGE
54
TENURE
4.3 yrs
Who owns this company?
Recent Insider Trading
  • Shutterstock individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
11. Jun 19 Sell Deirdre Bigley Individual 11. Jun 19 11. Jun 19 -1,592 $39.41 $-62,741
02. May 19 Sell Thomas Evans Individual 30. Apr 19 30. Apr 19 -2,500 $40.29 $-100,725
27. Aug 18 Sell Thomas Evans Individual 22. Aug 18 22. Aug 18 -10,000 $51.18 $-511,800
17. Aug 18 Sell Martin Brodbeck Individual 15. Aug 18 15. Aug 18 -4,813 $51.18 $-246,329
X
Management checks
We assess Shutterstock's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Shutterstock has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

With A Return On Equity Of 10%, Has Shutterstock, Inc.'s (NYSE:SSTK) Management Done Well?

One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.10 in profit. … The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Shutterstock: 10% = US$30m ÷ US$295m (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … How Does Debt Impact Return On Equity?

Simply Wall St -

Read This Before Buying Shutterstock, Inc. (NYSE:SSTK) Shares

Check out our latest analysis for Shutterstock The Last 12 Months Of Insider Transactions At Shutterstock In the last twelve months, the biggest single sale by an insider was when the Presiding Director, Thomas Evans, sold US$512k worth of shares at a price of US$51.18 per share. … Shutterstock Insiders Are Selling The Stock The last quarter saw substantial insider selling of Shutterstock shares. … Insider Ownership of Shutterstock For a common shareholder, it is worth checking how many shares are held by company insiders.

Simply Wall St -

Is Now An Opportune Moment To Examine Shutterstock, Inc. (NYSE:SSTK)?

Given that Shutterstock’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future. … This is based on its high beta, which is a good indicator for share price volatility. … Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations.

Simply Wall St -

Why Shutterstock, Inc.'s (NYSE:SSTK) High P/E Ratio Isn't Necessarily A Bad Thing

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at Shutterstock, Inc.'s (NYSE:SSTK) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Should You Be Adding Shutterstock (NYSE:SSTK) To Your Watchlist Today?

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it completely lacks a track record of revenue and profit. … If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Shutterstock (NYSE:SSTK). … I like to take a look at earnings before interest and (EBIT) tax margins, as well as revenue growth, to get another take on the quality of the company's growth.

Simply Wall St -

How Does Shutterstock, Inc. (NYSE:SSTK) Affect Your Portfolio Volatility?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility).

Simply Wall St -

Does The Data Make Shutterstock, Inc. (NYSE:SSTK) An Attractive Investment?

Looking at the company as a whole, as a potential stock investment, I believe SSTK has a lot to offer. … is a company with great financial health as well as a. … Below, I've touched on some key aspects you should know on a high level

Simply Wall St -

What Should You Know About Shutterstock, Inc.'s (NYSE:SSTK) Earnings Outlook?

In December 2018, Shutterstock, Inc. … (NYSE:SSTK) announced its most recent earnings update, whicha … suggested

Simply Wall St -

Did You Manage To Avoid Shutterstock's 49% Share Price Drop?

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … During the unfortunate half decade during which the share price slipped, Shutterstock actually saw its earnings per share (EPS) improve by 15% per year. … Due to the lack of correlation between the EPS growth and the falling share price, it's worth taking a look at other metrics to try to understand the share price movement.

Simply Wall St -

Shutterstock, Inc. (NYSE:SSTK) Delivered A Better ROE Than Its Industry

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Another way to think of that is that for every $1 worth of equity in the company, it was able to earn $0.16. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Company Info

Description

Shutterstock, Inc. provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery. The company provides its services under the Shutterstock, Bigstock, Offset, Shutterstock Select, Shutterstock Custom, Shutterstock Editorial, and Shutterstock Music names, as well as Superior search, Application programming interface, Showcase, and Editor and Editor Pro tools to enhance workflow and project management needs, and search capabilities. It serves marketing professionals and organizations, media and broadcast companies, and small and medium-sized businesses through online platform. Shutterstock, Inc. was founded in 2003 and is headquartered in New York, New York.

Details
Name: Shutterstock, Inc.
SSTK
Exchange: NYSE
Founded: 2003
$1,368,479,342
35,215,629
Website: http://www.shutterstock.com
Address: Shutterstock, Inc.
Empire State Building,
21st Floor,
New York,
New York, 10118,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE SSTK Common Stock New York Stock Exchange US USD 11. Oct 2012
BST S3T Common Stock Boerse-Stuttgart DE EUR 11. Oct 2012
Number of employees
Current staff
Staff numbers
1,029
Shutterstock employees.
Industry
Internet and Direct Marketing Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 00:37
End of day share price update: 2019/07/17 00:00
Last estimates confirmation: 2019/06/28
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.