Tearsheet

Shutterstock (SSTK)

Market Price (12/23/2025): $19.17 | Market Cap: $680.2 Mil
Sector: Communication Services | Industry: Interactive Media & Services

Shutterstock (SSTK)

Market Price (12/23/2025): $19.17
Market Cap: $680.2 Mil
Sector: Communication Services
Industry: Interactive Media & Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 16%, Dividend Yield is 6.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 13%	Weak multi-year price returns 2Y Excs Rtn is -101%, 3Y Excs Rtn is -134%	Key risks SSTK key risks include [1] its own generative AI initiatives cannibalizing its core content business amid uncertainty over the long-term sustainability of its AI data licensing revenue, Show more.
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%
2	Megatrend and thematic drivers Megatrends include Social Media & Creator Economy, Digital Advertising, and Digital Content & Streaming. Themes include Creator Economy Monetization, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 16%, Dividend Yield is 6.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 13%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%
2	Megatrend and thematic drivers Megatrends include Social Media & Creator Economy, Digital Advertising, and Digital Content & Streaming. Themes include Creator Economy Monetization, Show more.
3	Weak multi-year price returns 2Y Excs Rtn is -101%, 3Y Excs Rtn is -134%
4	Key risks SSTK key risks include [1] its own generative AI initiatives cannibalizing its core content business amid uncertainty over the long-term sustainability of its AI data licensing revenue, Show more.

Valuation, Metrics & Events

	12/23/25	2024	2023	2022	2021
Share Price CYE	$19.17	$28.38	$43.71	$46.70	$96.68
Market Cap CYE ($ Mil)	680.2	989.5	1,560.2	1,672.5	3,529.3
Total Debt ($ Mil)	294.6	301.1	59.4	85.6	37.0
Total Cash ($ Mil)	165.5	111.3	100.5	115.2	314.0
Enterprise Value ($ Mil)	809.3	1,290.6	1,619.6	1,758.1	3,566.3
Valuation Ratios
P/S TTM	0.7	1.1	2.0	2.3	5.2
P/EBIT TTM	5.6	14.7	13.9	20.6	38.6
P/E TTM	11.3	29.8	15.7	25.0	44.1
P/FCF TTM	7.6	-57.7	20.4	19.3	22.6
Sector Ratios
P/S TTM (Sector)	1.0	1.1	1.1	1.2	2.0
P/EBIT TTM (Sector)	1.6	1.7	0.6	1.1	4.7
P/E TTM (Sector)	-0.9	-0.9	-0.6	-0.3	4.3
P/FCF TTM (Sector)	6.6	7.5	6.5	3.1	5.8

	12/23/25	2024	2023
Share Price CYE	$19.17	$28.38	$43.71
Market Cap CYE ($ Mil)	680.2	989.5	1,560.2
Total Debt ($ Mil)	294.6	301.1	59.4
Total Cash ($ Mil)	165.5	111.3	100.5
Enterprise Value ($ Mil)	809.3	1,290.6	1,619.6
Valuation Ratios
P/S TTM	0.7	1.1	2.0
P/EBIT TTM	5.6	14.7	13.9
P/E TTM	11.3	29.8	15.7
P/FCF TTM	7.6	-57.7	20.4
Sector Ratios
P/S TTM (Sector)	1.0	1.1	1.1
P/EBIT TTM (Sector)	1.6	1.7	0.6
P/E TTM (Sector)	-0.9	-0.9	-0.6
P/FCF TTM (Sector)	6.6	7.5	6.5

	SSTK	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	1.0
Rev Chg Q	3.8%	7.3%
Rev Chg LTM	13.1%	6.1%
Rev Chg 3Y Avg	7.8%	5.5%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.1
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	8.9%	18.8%
CFO/Rev LTM	13.6%	20.4%
Net Inc Mgn	5.9%	13.1%
VALUATION	LOW
P/S	0.7	3.2
P/CFO	4.9	15.7
P/FCF	7.6	20.7
P/E	11.3	23.5
STABILITY	GOOD
Debt/Equity	0.43	0.21
Cash/Assets	0.12	0.07

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Metric	Value	Date	Source
Paid Downloads	111.7 million	9302025	Link
Subscribers	1,060,000	9302025	Link
Average revenue per customer	$279	9302025	Link

Upcoming
2/24/2026	Earnings Release	Rev: - EPS: -

SSTK Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are key points highlighting factors related to Shutterstock's (SSTK) stock movement: 1. Shutterstock experienced a significant decrease in net income in the third quarter of 2024, falling to $17.6 million from $28.4 million in the prior year's third quarter.

2. Analysts' forecasts indicate a challenging outlook for Shutterstock, with earnings projected to decline by 7.5% per year and revenue expected to decrease by 2.1% annually over the next three years.

Show more

Stock Movement Drivers

Fundamental Drivers

The -8.8% change in SSTK stock from 9/22/2025 to 12/22/2025 was primarily driven by a -7.4% change in the company's Net Income Margin (%).

	9222025	12222025	Change
Stock Price ($)	20.74	18.92	-8.80%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1010.50	1020.01	0.94%
Net Income Margin (%)	6.36%	5.89%	-7.44%
P/E Multiple	11.37	11.17	-1.75%
Shares Outstanding (Mil)	35.26	35.48	-0.64%
Cumulative Contribution			-8.80%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025

	Return	Correlation
SSTK	-8.8%
Market (SPY)	2.7%	40.7%
Sector (XLC)	-1.6%	48.7%

Fundamental Drivers

The 6.7% change in SSTK stock from 6/23/2025 to 12/22/2025 was primarily driven by a 47.4% change in the company's Net Income Margin (%).

	6232025	12222025	Change
Stock Price ($)	17.74	18.92	6.66%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	963.57	1020.01	5.86%
Net Income Margin (%)	4.00%	5.89%	47.44%
P/E Multiple	16.08	11.17	-30.50%
Shares Outstanding (Mil)	34.89	35.48	-1.70%
Cumulative Contribution			6.63%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025

	Return	Correlation
SSTK	6.7%
Market (SPY)	14.4%	44.7%
Sector (XLC)	12.7%	45.4%

Fundamental Drivers

The -32.8% change in SSTK stock from 12/22/2024 to 12/22/2025 was primarily driven by a -59.0% change in the company's P/E Multiple.

	12222024	12222025	Change
Stock Price ($)	28.15	18.92	-32.79%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	902.17	1020.01	13.06%
Net Income Margin (%)	4.03%	5.89%	46.18%
P/E Multiple	27.23	11.17	-58.97%
Shares Outstanding (Mil)	35.17	35.48	-0.88%
Cumulative Contribution			-32.79%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025

	Return	Correlation
SSTK	-32.8%
Market (SPY)	16.9%	45.6%
Sector (XLC)	20.5%	45.1%

Fundamental Drivers

The -59.3% change in SSTK stock from 12/23/2022 to 12/22/2025 was primarily driven by a -44.1% change in the company's Net Income Margin (%).

	12232022	12222025	Change
Stock Price ($)	46.44	18.92	-59.26%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	815.88	1020.01	25.02%
Net Income Margin (%)	10.53%	5.89%	-44.08%
P/E Multiple	19.41	11.17	-42.45%
Shares Outstanding (Mil)	35.93	35.48	1.24%
Cumulative Contribution			-59.27%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2023 to 12/22/2025

	Return	Correlation
SSTK	-57.4%
Market (SPY)	47.7%	43.5%
Sector (XLC)	63.9%	39.6%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
SSTK Return	70%	56%	-52%	-6%	-35%	-36%	-50%
Peers Return	�	21%	-21%	27%	-5%	-14%	�
S&P 500 Return	16%	27%	-19%	24%	23%	17%	113%
Monthly Win Rates [3]
SSTK Win Rate	58%	58%	17%	42%	17%	50%
Peers Win Rate	58%	65%	42%	60%	48%	45%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
SSTK Max Drawdown	-31%	-9%	-58%	-35%	-38%	-51%
Peers Max Drawdown	�	-7%	-35%	-16%	-25%	-27%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: GETY, ADBE, NTAP, BOX, DBX. See SSTK Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

Unique Key	Event	SSTK	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-73.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	271.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-34.3%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	52.3%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	118 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-42.5%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	73.9%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	371 days	120 days

Compare to ADBE, CARG, UPWK, SABR, MDRX

In The Past

Shutterstock's stock fell -73.1% during the 2022 Inflation Shock from a high on 10/18/2021. A -73.1% loss requires a 271.6% gain to breakeven.

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About Shutterstock (SSTK)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Shutterstock, Inc., a technology company, provides quality content, and creative workflow solutions in North America, Europe, and internationally. It offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects, and HD and 4K formats that are integrated into Websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage. The company provides its services under the Shutterstock, Bigstock, Offset, TurboSquid,PremiumBeat brand names, as well as Application programming interface to enhance workflow and project management needs, and search capabilities. It serves corporate professionals and organizations, media and broadcast companies, and small and medium-sized businesses, and individual creators. The company was founded in 2003 and is headquartered in New York, New York.

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1. Etsy for digital creative assets.

2. Amazon for licensing stock photos, videos, and music.

3. YouTube, but for licensing professional images and videos instead of just streaming them.

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Stock Photos: Provides a vast library of high-quality, royalty-free photographs for licensing.
Stock Video: Offers a comprehensive collection of video clips and footage for commercial and creative projects.
Stock Music: Supplies royalty-free music tracks and sound effects for various media productions.
Vectors & Illustrations: Licenses scalable vector graphics and digital illustrations for design and marketing purposes.
Editorial Content: Delivers timely images and videos covering news, sports, and entertainment events for editorial use.
AI Image Generator: An online tool enabling users to create unique images from text descriptions using artificial intelligence.
Custom Content Creation: Provides bespoke services for businesses to commission and produce custom visual content tailored to their specific needs.
3D Models: Offers a library of digital 3D assets for use in design, animation, and immersive projects.

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Shutterstock (symbol: SSTK) serves a highly diversified customer base, ranging from individual creators to large corporations. Due to the nature of its business model, which involves licensing content to millions of users, Shutterstock does not typically disclose specific "major customer companies" in the traditional sense where a significant portion of its revenue is concentrated in a few named entities. Instead, Shutterstock describes its customer base in the following categories:

Individual Professionals: This segment includes freelancers, designers, bloggers, marketers, and other professionals who require stock content for personal projects, small businesses, or client work.
Small and Medium-Sized Businesses (SMBs): These are companies that use Shutterstock's content for their marketing, advertising, internal communications, and other business needs. They often subscribe directly through Shutterstock's platforms.
Large Enterprises and Global Brands: This category includes large corporations, media companies, and agencies that often have custom agreements, dedicated support, and require high volumes of content, legal indemnification, and workflow integration for their extensive marketing and content creation efforts.

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Amazon (AMZN)

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Jon Oringer, Founder and Executive Chairman

Jon Oringer founded Shutterstock in 2003, starting with thousands of his own digital photographs and establishing the first global subscription image marketplace. He served as CEO until April 2020, becoming Executive Chairman. A serial entrepreneur, Oringer developed one of the internet's first pop-up blockers in the 1990s and launched approximately ten small startups selling software products. Shutterstock went public on the New York Stock Exchange in 2012. He also co-founded Pareto Holdings. Oringer holds an MS in Computer Science from Columbia University and a BS in Computer Science and Mathematics from Stony Brook University.

Paul Hennessy, Chief Executive Officer

Paul Hennessy joined Shutterstock as CEO in July 2022. His extensive career includes leadership roles at Vroom.com, Priceline.com, and Booking.com.

Rik Powell, Chief Financial Officer

Rik Powell was appointed Chief Financial Officer of Shutterstock, effective November 1, 2024. Before this role, he served as Shutterstock's SVP, Finance and Investor Relations. Prior to joining Shutterstock, Powell was CFO at Shake Shack and spent 16 years at Getty Images, including a three-year term as its finance chief.

Sejal Amin, Chief Technology Officer

Sejal Amin joined Shutterstock as Chief Technology Officer in September 2022. Her background includes leadership roles at Thomson Reuters and Khoros, and she holds academic credentials from Rutgers University.

John Lapham, General Counsel

John Lapham serves as the General Counsel for Shutterstock.

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The key risks to Shutterstock's business are primarily centered around the transformative and disruptive impact of generative artificial intelligence (AI), coupled with an intensely competitive market and evolving regulatory landscape.

Disruption from Generative AI: The rise of generative AI tools, such as Midjourney, DALL-E, and Adobe Firefly, poses a significant threat to Shutterstock's traditional stock photography business model. These tools enable users to create photorealistic visuals rapidly and cost-effectively, which has led to an erosion of demand for conventional stock imagery. While Shutterstock has launched its own AI image generator and is licensing its content for AI training, the long-term sustainability of this new revenue stream is uncertain. There is a risk that AI models, once trained, may not require continuous access to vast amounts of new content, potentially causing AI licensing revenues to plateau. This shift also presents the challenge of Shutterstock's own AI initiatives cannibalizing its core content licensing business.
Intense Competition: Beyond the direct impact of generative AI, Shutterstock operates in a highly competitive industry with low barriers to entry. The market faces pressure from numerous competitors, including other stock media providers and the proliferation of free stock content platforms. This competition contributes to market share erosion and puts downward pressure on pricing, impacting Shutterstock's ability to maintain profitability and grow traditional licensing revenue.
Regulatory and Ethical Challenges Related to AI: The rapid integration of AI technology into content creation raises complex ethical and legal questions. Shutterstock faces risks associated with concerns around misinformation, deepfake images, and the lack of clear legal frameworks governing AI-generated content. This regulatory uncertainty could expose the company to litigation, force it to renegotiate existing licensing terms, or require significant investments to ensure ethical business practices and compliance with evolving data privacy laws.

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The clear emerging threat to Shutterstock (SSTK) is the rapid advancement and widespread adoption of Generative Artificial Intelligence (AI) for media creation.

This technology allows users to generate high-quality images, videos, illustrations, and even music on demand using AI models (such as Midjourney, DALL-E, Stable Diffusion, and Adobe Firefly). This directly competes with Shutterstock's core business model of licensing human-created stock content.

As businesses and individuals increasingly utilize AI tools to create custom content quickly and often at a lower cost, the demand for traditional licensed stock assets could significantly decrease. This shift could devalue Shutterstock's extensive library of human-generated content and potentially impact contributor earnings, thereby affecting the supply side of its marketplace. While Shutterstock is actively investing in its own AI generation capabilities and integrating AI-generated content, this represents a fundamental disruption to its established market and value proposition.

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Shutterstock (SSTK) operates in several addressable markets, primarily focused on providing creative content and tools. Below are the estimated market sizes for their main products and services:

Global Stock Images Market: The global stock images market was valued at approximately USD 5.09 billion in 2025 and is projected to reach USD 7.27 billion by 2030, growing at a CAGR of 7.4%. Other estimates place the global stock images market at USD 6.1 billion in 2025, with projections to expand to USD 10.1 billion by 2030. North America held the largest share of the global stock images market, accounting for 38.2% in 2024.
Global Stock Video Market: The global stock video market was valued at USD 5.13 billion in 2024 and is expected to reach USD 9.14 billion by 2034, with a CAGR of 5.94%. Another source indicates the market size was USD 5.99 billion in 2024 and is expected to reach USD 9.98 billion by 2032, growing at a CAGR of 8.75%. North America leads this market due to high content consumption.
Global Stock Images and Videos Market (Combined): The combined global stock images and videos market was valued at USD 5.28 billion in 2023 and is anticipated to reach USD 7.94 billion by 2029, growing at a CAGR of 7.05%. Another report estimated this market at USD 5.2 billion in 2023, projected to reach USD 9.3 billion by 2032.
Global AI-Powered Design Tools Market: The global AI-powered design tools market was valued at USD 5.54 billion in 2024 and is expected to grow to USD 6.74 billion in 2025, with a compound annual growth rate (CAGR) of 21.7%. It is projected to reach USD 14.92 billion by 2029 at a CAGR of 22.0%. Another estimate places the market at USD 4.4 billion in 2023, expected to be worth around USD 26.5 billion by 2033, growing at a CAGR of 19.6%. North America was the largest region in this market in 2024.
Global Digital Content Creation Market: This broader market, encompassing various digital media formats including text, images, audio, and video, was valued at USD 32.28 billion in 2024 and is projected to grow to USD 69.80 billion by 2030, at a CAGR of 13.9%. Other analyses show the market size at USD 32.26 billion in 2024, reaching USD 117.51 billion by 2034 with a CAGR of 13.8%. North America holds a significant share, with a projected market value of approximately USD 9.62 billion in 2025, representing about 45.4% of the global share.
Global Content Marketing Market: This market, where Shutterstock's assets are extensively utilized, was valued at USD 575.55 billion in 2025 and is projected to grow to USD 1845.26 billion by 2034, at an estimated CAGR of 13.82%. Another report valued the market at USD 413.2 billion in 2022 and projects it to reach USD 2 trillion by 2032, with a CAGR of 16.9%. The United States content marketing market is projected at USD 181.64 billion in 2025.

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Shutterstock (SSTK) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

AI-Driven Content and Services: Shutterstock is heavily focused on leveraging artificial intelligence to generate new revenue streams. This includes growth from AI-generated content subscriptions, strategic partnerships related to AI content, and providing data for AI model training. The company has explicitly stated that continued investments in AI content services are a key driver for its target of $1.2 billion in revenue by 2027.
Expansion of Data Distribution and Services: The data distribution and services segment is consistently highlighted as a significant growth area. Shutterstock is making substantial investments in this offering, which includes providing data for various purposes, including powering AI applications. This segment is expected to contribute meaningfully to overall revenue growth in the coming years.
Strategic Acquisitions and Enhanced Content Offerings: Acquisitions play a crucial role in Shutterstock's growth strategy. The integration of companies like Envato has significantly expanded Shutterstock's content library and subscriber base, directly contributing to content revenue and diversifying its product suite. These acquisitions are instrumental in attracting new customers and strengthening relationships with existing clients by filling product gaps and increasing engagement.
Subscriber Growth: Driven by strategic acquisitions and an expanded range of creative assets, Shutterstock anticipates continued growth in its subscriber count. For example, the Envato acquisition alone more than doubled Shutterstock's subscriber count and increased subscription revenue as a percentage of total content revenue. This expansion of the subscriber base is a fundamental driver of recurring revenue.

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Share Repurchases

On June 7, 2023, Shutterstock's Board of Directors approved a stock repurchase program authorizing the Company to purchase up to $100 million of its common stock.
Recent quarterly buybacks include $21.00 million as of September 30, 2024, and $20.59 million as of June 30, 2024.
In the third quarter of 2025, the company used $20.999 million for the repurchase of treasury shares.

Share Issuance

Shutterstock is undergoing a merger with Getty Images, where shareholders can elect to receive $28.8487 in cash per share, 13.67 shares of Getty Images common stock, or a combination of $9.50 cash and 9.17 shares of Getty Images common stock for each Shutterstock share held.
As of September 30, 2025, 41,024 thousand shares were issued, compared to 40,395 thousand shares as of December 31, 2024, reflecting some share issuance.
Cash paid related to the settlement of employee taxes linked to RSU vesting was $4.092 million in Q3 2025 and $1.473 million in Q2 2025, indicating ongoing share issuances for employee compensation.

Outbound Investments

Shutterstock has made a total of 17 acquisitions, with an average of 2.2 acquisitions per year over the last five years (2019–2024).
Significant acquisitions include Envato in May 2024 for $245 million, Giphy in May 2023 for $53 million, and Pond5 in May 2022 for $210 million.
Other notable acquisitions include PicMonkey (September 2021, $110 million), TurboSquid (January 2021, $75 million), and Amper Music (November 2020, undisclosed).

Capital Expenditures

Cash used in investing activities for capital expenditures and content acquisition was $11.6 million in Q3 2025, $15.4 million in Q2 2025, and $11.7 million in Q1 2025.
Capital expenditures are primarily focused on necessary capital investments in internal-use software and website development costs.
Investments are also directed towards AI and machine learning to enhance search capabilities and content recommendations.

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NFLX (11.4%)

Netflix

GOOGL (11.0%)

Alphabet

Higher Op Mgn LTM (Value for SSTK: 8.9%)

META (43.2%)

Meta Platforms

GOOGL (32.2%)

Alphabet

NFLX (29.1%)

Netflix

TMUS (22.6%)

T-Mobile US

DIS (14.6%)

Walt Disney

Higher CFO/Rev LTM (Value for SSTK: 13.6%)

META (56.8%)

Meta Platforms

GOOGL (39.3%)

Alphabet

TMUS (31.3%)

T-Mobile US

NFLX (22.1%)

Netflix

DIS (19.2%)

Walt Disney

Higher FCF/Rev LTM (Value for SSTK: 8.8%)

META (23.7%)

Meta Platforms

NFLX (20.7%)

Netflix

GOOGL (19.1%)

Alphabet

TMUS (16.1%)

T-Mobile US

DIS (10.7%)

Walt Disney

Higher Total Yield (Value for SSTK: 15.7%)

BCE (41.8%)

BCE

RCI (38.2%)

Rogers Communications

CMCSA (25.5%)

Comcast

VZ (18.5%)

Verizon Communications

CHTR (18.5%)

Charter Communications

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for SSTK: 7.8% | 0.7x)

MCK (12.6% | 0.3x)

McKesson

GM (8.6% | 0.4x)

General Motors

ELV (8.4% | 0.4x)

Elevance Health

CI (13.6% | 0.3x)

Cigna

COR (10.4% | 0.2x)

Cencora

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SSTK: 7.8% | 7.4x)

UAL (13.2% | 7.3x)

United Airlines

IBKR (48.1% | 3.5x)

Interactive Brokers

UHS (8.7% | 7.3x)

Universal Health Services

JEF (14.6% | 2.9x)

Jefferies Financial

NCLH (43.8% | 6.9x)

Norwegian Cruise Line

Higher Rev Chg LTM (Value for SSTK: 13.1%)

NVDA (65.2%)

NVIDIA

LLY (36.8%)

Eli Lilly

AVGO (23.9%)

Broadcom

MSFT (15.6%)

Microsoft

MA (14.6%)

Mastercard

Higher Rev Chg 3Y Avg (Value for SSTK: 7.8%)

NVDA (91.6%)

NVIDIA

AVGO (25.2%)

Broadcom

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

TSLA (9.3%)

Tesla

Higher Op Mgn LTM (Value for SSTK: 8.9%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

AVGO (40.8%)

Broadcom

AAPL (31.9%)

Apple

AMZN (11.4%)

Amazon.com

Higher CFO/Rev LTM (Value for SSTK: 13.6%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

AVGO (43.1%)

Broadcom

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for SSTK: 8.8%)

MA (52.5%)

Mastercard

AVGO (42.1%)

Broadcom

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

AAPL (23.5%)

Apple

Higher Total Yield (Value for SSTK: 15.7%)

FNMA (23.1%)

Federal National Mortgage Association Fannie Mae

ALL (17.1%)

Allstate

MSTR (16.9%)

Strategy

CNQ (16.9%)

Canadian Natural Resources

MO (15.9%)

Altria

		Best Bets In Communication Services Sector
	SSTK	META	TTD	MTCH	PINS	CARG	NXST	TGNA	T	UPWK	FWONA
What You Pay
P/E	11.2	28.4	41.5	14.0	9.0	25.1	11.7	9.1	7.8	11.4	10.6
P/EBIT	5.6	19.6	34.5	9.5	63.8	18.4	5.6	5.1	5.0	24.5	63.2
What You Get
Rev Chg Q	3.8%	26.2%	17.7%	2.1%	16.8%	3.2%	-12.3%	-19.3%	1.6%	4.1%	19.1%
Rev Chg LTM	13.1%	21.3%	20.8%	-0.5%	16.8%	4.2%	-1.4%	-2.7%	2.0%	2.5%	8.7%
Rev Chg 3Y Avg	7.8%	17.3%	23.5%	2.7%	13.6%	-15.9%	1.2%	-2.8%	1.1%	9.7%	16.5%
FCF/Rev 3Y Avg	7.2%	29.0%	26.6%	25.8%	22.9%	18.6%	17.6%	17.4%	16.3%	15.4%	14.7%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 12%, alpha of 0.5%, and sharpe of 0.56

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Shutterstock Earnings Notes
2	With Shutterstock Stock Sliding, Have You Assessed The Risk?	Return
3	SSTK Dip Buy Analysis
4	Shutterstock Total Shareholder Return (TSR): -29.3% in 2024 and -29.6% 3-yr compounded annual returns (below peer average)
5	Shutterstock (SSTK) Operating Cash Flow Comparison	Financials
6	Shutterstock (SSTK) Net Income Comparison	Financials
7	Shutterstock (SSTK) Operating Income Comparison	Financials
8	Shutterstock (SSTK) Revenue Comparison	Financials
9	Shutterstock vs. S&P500 Correlation	Correlation
10	Shutterstock Price Volatility	Volatility

	Title
0	ARTICLES

Trade Ideas

Select ideas related to SSTK. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
PINS_11302025_Monopoly_xInd_xCD_Getting_Cheaper	11302025	PINS	Pinterest	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	1.0%	1.0%	-1.4%
TMUS_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	TMUS	T-Mobile US	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-6.1%	-6.1%	-6.4%
Z_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	Z	Zillow	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-3.5%	-3.5%	-5.1%
IRDM_11072025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11072025	IRDM	Iridium Communications	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	8.7%	8.7%	-5.6%
ADBE_10312025_Dip_Buyer_ValueBuy	10312025	ADBE	Adobe	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	5.1%	5.1%	-8.2%
SSTK_9302023_Dip_Buyer_High_CFO_Margins_ExInd_DE	09302023	SSTK	Shutterstock	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	21.9%	-3.9%	-12.1%
SSTK_4302022_Dip_Buyer_FCFYield	04302022	SSTK	Shutterstock	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-31.3%	-10.0%	-39.0%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ADEA	Adeia	1.8	30.5%	21.0%
AAOI	Applied Optoelectronics	2.5	24.8%	6.1%
QBTS	D-Wave Quantum	11.0	20.0%	283.2%
ZBIO	Zenas BioPharma	1.8	17.1%	416.8%
UNF	UniFirst	3.6	16.1%	16.4%
FLY	Firefly Aerospace	4.0	16.0%
UAMY	United States Antimony	0.7	16.0%	215.8%
RZLT	Rezolute	0.2	15.8%	-58.2%
RCAT	Red Cat	0.8	14.5%	-28.2%
KURA	Kura Oncology	1.0	14.5%	29.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TPL	Texas Pacific Land	7.0	-66.3%	-72.5%
EWTX	Edgewise Therapeutics	2.2	-18.0%	-21.6%
DJT	Trump Media & Technology	4.0	-10.4%	-57.7%
AVO	Mission Produce	0.8	-9.7%	-17.0%
GTN-A	Gray Media	1.0	-8.0%	43.1%
ANGX	Angel Studios	0.8	-8.0%
DDS	Dillard's	9.6	-7.7%	48.3%
NKTR	Nektar Therapeutics	0.6	-7.2%	211.7%
MPLT	MapLight Therapeutics	0.8	-6.7%
TLRY	Tilray Brands	11.0	-6.6%	-21.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LUNR	Intuitive Machines	2.0	50.1%	-8.1%
FBYD	Falcons Beyond Global	0.7	46.4%	129.2%
TE	T1 Energy	1.1	44.3%
HUT	Hut 8	5.3	42.2%	145.9%
FLY	Firefly Aerospace	4.0	40.5%
RKLB	Rocket Lab	39.9	40.0%	204.5%
DJT	Trump Media & Technology	4.0	37.8%	-57.7%
QBTS	D-Wave Quantum	11.0	35.6%	283.2%
EEX	Emerald	0.9	34.2%	-0.1%
AAOI	Applied Optoelectronics	2.5	30.8%	6.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-79.5%	-26.1%
TPL	Texas Pacific Land	7.0	-63.9%	-72.5%
LW	Lamb Weston	6.0	-28.0%	-34.3%
OLMA	Olema Pharmaceuticals	2.4	-21.4%	383.4%
FDMT	4D Molecular Therapeutics	0.5	-20.5%	56.4%
NKTR	Nektar Therapeutics	0.6	-18.4%	211.7%
INSP	Inspire Medical Systems	2.9	-17.9%	-47.2%
PLAY	Dave & Buster's Entertainment	0.6	-17.9%	-45.0%
NKE	Nike	84.5	-15.6%	-22.6%
HPP	Hudson Pacific Properties	4.6	-14.9%	-51.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	168.4%
WVE	WAVE Life Sciences	2.9	166.0%	45.3%
LUNR	Intuitive Machines	2.0	107.3%	-8.1%
AAOI	Applied Optoelectronics	2.5	100.6%	6.1%
RKLB	Rocket Lab	39.9	96.4%	204.5%
VERA	Vera Therapeutics	3.4	93.0%	27.2%
ANF	Abercrombie & Fitch	5.9	83.9%	-16.6%
PL	Planet Labs PBC	6.3	83.4%	409.9%
ARWR	Arrowhead Pharmaceuticals	9.6	81.1%	267.0%
FTRE	Fortrea	1.6	76.2%	-5.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-78.8%	-58.2%
TPL	Texas Pacific Land	7.0	-65.7%	-72.5%
JANX	Janux Therapeutics	0.9	-50.7%	-73.7%
FRMI	Fermi	6.2	-42.4%
LENZ	LENZ Therapeutics	0.5	-36.4%	-39.0%
GOGO	Gogo	0.6	-30.3%	-41.9%
UP	Wheels Up Experience	0.4	-27.4%	-62.1%
ACLX	Arcellx	3.7	-27.2%	-15.0%
ORIC	ORIC Pharmaceuticals	0.7	-26.8%	4.1%
KOS	Kosmos Energy	0.5	-26.5%	-71.8%

Peer Comparisons for Shutterstock

Peers to compare with:

Financials

	SSTK	GETY	ADBE	NTAP	BOX	DBX	Median
Name	Shutters.	Getty Im.	Adobe	NetApp	Box	Dropbox
Mkt Price	18.92	1.31	357.53	110.90	30.14	28.49	29.31
Mkt Cap	0.7	0.5	151.2	22.1	4.4	7.4	5.9
Rev LTM	1,020	946	23,181	6,637	1,151	2,528	1,840
Op Inc LTM	91	165	8,402	1,500	70	618	391
FCF LTM	89	23	9,599	1,676	308	916	612
FCF 3Y Avg	68	52	7,925	1,360	300	839	569
CFO LTM	138	84	9,792	1,860	348	930	639
CFO 3Y Avg	122	110	8,185	1,534	330	863	596

Growth & Margins

	SSTK	GETY	ADBE	NTAP	BOX	DBX	Median
Name	Shutters.	Getty Im.	Adobe	NetApp	Box	Dropbox
Rev Chg LTM	13.1%	3.1%	10.7%	2.5%	7.2%	-0.4%	5.2%
Rev Chg 3Y Avg	7.8%	0.5%	10.5%	0.6%	6.0%	3.4%	4.7%
Rev Chg Q	3.8%	-0.2%	10.7%	2.8%	9.1%	-0.7%	3.3%
QoQ Delta Rev Chg LTM	0.9%	-0.1%	2.6%	0.7%	2.2%	-0.2%	0.8%
Op Mgn LTM	8.9%	17.5%	36.2%	22.6%	6.1%	24.4%	20.0%
Op Mgn 3Y Avg	8.6%	20.1%	35.4%	20.8%	6.2%	19.6%	19.8%
QoQ Delta Op Mgn LTM	1.3%	-1.4%	-0.1%	0.8%	0.0%	1.9%	0.4%
CFO/Rev LTM	13.6%	8.9%	42.2%	28.0%	30.3%	36.8%	29.1%
CFO/Rev 3Y Avg	13.1%	11.9%	39.0%	23.8%	30.4%	34.3%	27.1%
FCF/Rev LTM	8.8%	2.4%	41.4%	25.3%	26.8%	36.2%	26.0%
FCF/Rev 3Y Avg	7.2%	5.6%	37.7%	21.1%	27.7%	33.4%	24.4%

Valuation

	SSTK	GETY	ADBE	NTAP	BOX	DBX	Median
Name	Shutters.	Getty Im.	Adobe	NetApp	Box	Dropbox
Mkt Cap	0.7	0.5	151.2	22.1	4.4	7.4	5.9
P/S	0.7	0.6	6.5	3.3	3.8	2.9	3.1
P/EBIT	5.6	5.4	17.4	14.6	45.2	12.0	13.3
P/E	11.2	-6.0	21.7	18.8	19.1	14.8	16.8
P/CFO	4.8	6.5	15.4	11.9	12.5	8.0	9.9
Total Yield	15.7%	-16.7%	4.6%	7.2%	5.2%	6.8%	6.0%
Dividend Yield	6.7%	0.0%	0.0%	1.9%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	6.8%	3.1%	4.2%	6.4%	7.1%	10.1%	6.6%
D/E	0.4	2.6	0.0	0.1	0.2	0.4	0.3
Net D/E	0.2	2.4	0.0	-0.0	-0.0	0.3	0.1

Returns

	SSTK	GETY	ADBE	NTAP	BOX	DBX	Median
Name	Shutters.	Getty Im.	Adobe	NetApp	Box	Dropbox
1M Rtn	-6.6%	-13.2%	10.3%	3.4%	-0.5%	-3.9%	-2.2%
3M Rtn	-8.8%	-38.8%	-1.8%	-10.6%	-7.0%	-7.8%	-8.3%
6M Rtn	6.7%	-29.2%	-5.9%	7.3%	-12.4%	-0.8%	-3.4%
12M Rtn	-32.8%	-42.5%	-20.0%	-4.5%	-5.9%	-5.8%	-13.0%
3Y Rtn	-59.3%	-73.8%	5.6%	101.1%	-2.8%	26.7%	1.4%
1M Excs Rtn	-7.6%	-12.3%	9.3%	2.2%	-1.2%	-6.4%	-3.8%
3M Excs Rtn	-10.1%	-38.2%	-4.5%	-13.1%	-10.2%	-10.7%	-10.5%
6M Excs Rtn	-9.4%	-38.9%	-19.4%	-7.4%	-25.7%	-14.1%	-16.8%
12M Excs Rtn	-49.8%	-59.9%	-36.1%	-21.5%	-22.9%	-20.0%	-29.5%
3Y Excs Rtn	-133.8%	-151.6%	-67.8%	16.9%	-79.5%	-53.5%	-73.7%

Comparison Analyses

	Title
0	MMS or SSTK - With 17% Return Forecast, SSTK Probably Deserves Your Money
1	CACI Looks Stronger Than SSTK With 25% Return Potential
2	Shutterstock vs. Zynga: With Return Forecast Of 90%, Zynga Is A Better Bet
3	Shutterstock vs. Lattice Semiconductor: With Return Forecast Of 14%, Shutterstock Is A Better Bet
4	Shutterstock vs. The Trade Desk: With Return Forecast Of 92%, The Trade Desk Is A Better Bet
5	Shutterstock vs. Silicon Laboratories: With Return Forecast Of 2.2%, Silicon Laboratories Is A Better Bet
6	Shutterstock vs. Globus Medical: With Return Forecast Of 18%, Globus Medical Is A Better Bet
7	Shutterstock vs. ABIOMED: With Return Forecast Of 64%, ABIOMED Is A Better Bet
8	Shutterstock vs. Adobe: Industry Competitors, But Shutterstock Is A Better Bet
9	Shutterstock vs. CACI: Industry Competitors, But CACI Is A Better Bet

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/5/2025	2/25/2025	2/26/2024	2/14/2023	2/10/2022	2/11/2021	2/13/2020
Key Financials
Total Revenue	1,020	935	875	828	773	667	651
EBITDA	212	161	204	161	154	127	70
Operating Income	91	69	68	112	108	85	20
Net Income	60	36	110	76	92	72	20
EPS	1.72	1.02	3.07	2.11	2.52	2.00	0.57
Growth Rates
Total Revenue Growth	13.1%	6.9%	5.6%	7.0%	16.0%	2.5%	4.4%
EBITDA Growth	41.8%	-21.2%	26.9%	4.7%	21.3%	80.7%	-10.3%
Operating Income Growth	57.0%	0.5%	-39.1%	3.9%	26.8%	323.1%	-37.9%
Net Income Growth	65.3%	-67.4%	44.9%	-17.2%	28.0%	256.9%	-63.2%
Margins
EBITDA Margin	20.8%	17.2%	23.3%	19.4%	19.9%	19.0%	10.8%
Operating Income Margin	8.9%	7.3%	7.8%	13.6%	14.0%	12.8%	3.1%
Net Income Margin	5.9%	3.8%	12.6%	9.2%	11.9%	10.8%	3.1%
Cash & Debt
Total Cash	166	111	100	115	314	429	303
Total Debt	295	301	59	86	37	42	47
Net Debt / (Cash)	129	190	-41	-30	-277	-387	-256
Cash Flows
Net Cash from Operations	138	33	141	158	216	165	103
Free Cash from Operations	89	-19	85	98	179	136	73
Returns to Shareholders
Dividends	45	42	39	35	31	24	-0
Share Repurchases	-0	42	28	73	26	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/5/2025	7/29/2025	5/2/2025	2/25/2025	10/29/2024	8/6/2024	5/2/2024	2/26/2024	10/31/2023	8/1/2023	4/25/2023	2/14/2023
Key Financials Quarterly
Total Revenue	260	267	243	250	251	220	214	217	233	209	215	218
Ebitda	59	70	47	36	44	41	42	23	49	71	61	28
Operating Income	32	35	10	13	18	21	17	2	17	9	40	26
Net Income	13	29	19	-1	18	4	16	-1	28	50	33	7
EPS	0.38	0.84	0.54	-0.04	0.50	0.10	0.45	-0.03	0.79	1.39	0.92	0.20
Key Financials TTM
Total Revenue TTM	1,020	1,011	964	935	902	885	874	875	875	846	844	828
Ebitda TTM	212	197	168	163	150	155	186	204	209	205	174	161
Operating Income TTM	91	76	62	69	58	57	45	68	93	104	121	112
Net Income TTM	60	64	38	36	36	47	94	110	118	113	82	76
Growth Rates Quarterly
Total Revenue Growth	3.8%	21.3%	13.2%	15.2%	7.4%	5.4%	-0.4%	-0.2%	14.3%	1.0%	8.1%	5.8%
EBITDA Growth	34.1%	71.4%	12.3%	58.1%	-11.8%	-42.6%	-30.3%	-17.4%	7.9%	80.3%	26.8%	-4.7%
Operating Income Growth	79.0%	68.1%	-39.1%	519.0%	5.6%	137.1%	-58.5%	-91.9%	-40.1%	-65.7%	26.5%	80.3%
Net Income Growth	-24.0%	712.1%	15.9%	-42.0%	-38.0%	-92.8%	-50.9%	-114.3%	23.3%	157.2%	23.6%	-58.3%
Margins Quarterly
EBITDA Margin	22.5%	26.2%	19.5%	14.5%	17.4%	18.6%	19.7%	10.6%	21.2%	34.0%	28.1%	12.8%
Operating Income Margin	12.5%	13.0%	4.2%	5.3%	7.2%	9.4%	7.8%	1.0%	7.4%	4.2%	18.8%	12.1%
Net Income Margin	5.1%	11.0%	7.7%	-0.6%	7.0%	1.6%	7.5%	-0.5%	12.2%	23.9%	15.3%	3.2%
Cash & Debt
Total Cash	166	116	112	111	131	75	72	100	75	87	96	115
Total Debt	295	297	299	301	304	56	59	59	61	63	34	86
Net Debt / (Cash)	129	181	186	190	173	-18	-13	-41	-14	-24	-62	-30
Cash Flows Quarterly
FCF from Operations	78	27	25	8	-12	28	8	34	10	30	67	61
Cash Flows TTM
FCF from Operations TTM	138	48	50	33	59	80	82	141	168	195	203	158
Returns to Shareholders Quarterly
Dividends	12	12	12	10	11	11	11	10	10	10	10	9
Share Repurchases	-0	-0	-0	-0	21	-0	-0	9	15	4	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	42.9%	52.5%	20.0%	27.7%	42.1%	-	-	-	-	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	40.9%	30.4%	20.5%	20.8%	21.5%	-	-	-	-	-	-	-

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Content	737	789
Data, Distribution, and Services	137	39
Single Segment			773	667	651
Total	875	828	773	667	651

Price Behavior

Price Behavior

Market Price	$18.92
Market Cap ($ Bil)	0.7
First Trading Date	10/11/2012
Distance from 52W High	-41.4%
	50 Days	200 Days
DMA Price	$21.40	$19.23
DMA Trend	down	down
Distance from DMA	-11.6%	-1.6%
	3M	1YR
Volatility	56.7%	56.2%
Downside Capture	157.42	143.20
Upside Capture	92.51	82.54
Correlation (SPY)	38.9%	45.4%

SSTK Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.19	1.73	1.85	2.14	1.30	1.36
Up Beta	2.81	1.84	1.95	2.64	1.54	1.40
Down Beta	3.50	3.43	2.79	2.68	1.15	1.09
Up Capture	38%	93%	119%	182%	81%	148%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	9	21	29	62	109	359
Down Capture	252%	112%	155%	171%	122%	110%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	11	21	34	64	140	391

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of SSTK With Other Asset Classes (Last 1Y)
	SSTK	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-36.0%	17.3%	14.7%	67.3%	6.8%	-0.5%	-16.6%
Annualized Volatility	56.0%	18.8%	19.7%	19.3%	15.2%	17.6%	35.4%
Sharpe Ratio	-0.60	0.72	0.57	2.54	0.23	-0.18	-0.25
Correlation With Other Assets		45.7%	46.2%	-0.7%	13.1%	34.9%	22.6%

ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of SSTK With Other Asset Classes (Last 5Y)
	SSTK	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-20.0%	12.9%	15.0%	18.9%	11.8%	5.1%	35.8%
Annualized Volatility	48.2%	20.9%	17.1%	15.5%	18.7%	18.9%	48.9%
Sharpe Ratio	-0.29	0.53	0.71	0.98	0.51	0.18	0.63
Correlation With Other Assets		46.1%	48.3%	6.4%	10.3%	40.3%	24.2%

Based On 10-Year Data

		Comparison of SSTK With Other Asset Classes (Last 10Y)
	SSTK	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-2.8%	13.0%	14.9%	14.9%	6.7%	5.5%	69.9%
Annualized Volatility	44.9%	22.6%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.10	0.53	0.71	0.84	0.30	0.23	0.90
Correlation With Other Assets		43.8%	42.8%	4.1%	14.1%	31.9%	16.3%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	1,284,469
Short Interest: % Change Since 11152025	4.4%
Average Daily Volume	163,477
Days-to-Cover Short Interest	7.86
Basic Shares Quantity	35,484,000
Short % of Basic Shares	3.6%

Returns Analyses

	Title
0	With Shutterstock Stock Sliding, Have You Assessed The Risk?
1	Shutterstock Stock Return Comparison
2	Shutterstock Total Shareholder Return (TSR): -51.6% in 2022 and 8.4% 3-yr returns (above peer average)
3	Shutterstock (SSTK) Stock Return: AI Predicts SSTK Average and Excess Return After a Fall or Rise

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/5/2025	5.5%	2.8%	-10.9%
7/29/2025	2.7%	1.3%	5.5%
5/2/2025	2.0%	14.2%	9.7%
10/29/2024	11.3%	10.2%	6.3%
8/6/2024	-3.3%	-7.7%	-8.8%
5/2/2024	-1.6%	-8.9%	-3.5%
2/21/2024	-1.3%	6.4%	7.0%
10/31/2023	18.6%	23.1%	30.0%
...
SUMMARY STATS
# Positive	12	13	10
# Negative	11	10	13
Median Positive	8.0%	9.2%	9.3%
Median Negative	-5.3%	-6.7%	-8.8%
Max Positive	23.6%	37.8%	33.9%
Max Negative	-9.8%	-15.0%	-28.3%

	Forward Returns
11/5/2025	5.5%	2.8%	-10.9%
7/29/2025	2.7%	1.3%	5.5%
5/2/2025	2.0%	14.2%	9.7%
10/29/2024	11.3%	10.2%	6.3%
8/6/2024	-3.3%	-7.7%	-8.8%
5/2/2024	-1.6%	-8.9%	-3.5%
2/21/2024	-1.3%	6.4%	7.0%
10/31/2023	18.6%	23.1%	30.0%
8/1/2023	-9.8%	-15.0%	-18.0%
4/25/2023	3.0%	-0.3%	-21.1%
2/9/2023	4.6%	9.9%	-2.5%
10/25/2022	10.5%	9.2%	13.5%
7/26/2022	-7.9%	0.3%	-2.9%
4/26/2022	-3.9%	-0.8%	-28.3%
2/10/2022	-8.2%	-4.1%	-6.9%
10/26/2021	3.0%	0.1%	-7.9%
7/27/2021	-6.1%	-0.5%	4.2%
4/27/2021	-5.3%	-9.5%	-9.1%
2/11/2021	23.6%	37.8%	33.9%
10/27/2020	11.8%	4.0%	8.9%
7/28/2020	17.6%	26.4%	13.9%
4/28/2020	-1.3%	-8.7%	-4.7%
2/13/2020	-8.6%	-5.8%	-23.5%
SUMMARY STATS
# Positive	12	13	10
# Negative	11	10	13
Median Positive	8.0%	9.2%	9.3%
Median Negative	-5.3%	-6.7%	-8.8%
Max Positive	23.6%	37.8%	33.9%
Max Negative	-9.8%	-15.0%	-28.3%

SEC Filings

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Report Date	Filing Date	Filing
9302025	11052025	10-Q 9/30/2025
6302025	7292025	10-Q 6/30/2025
3312025	5022025	10-Q 3/31/2025
12312024	2252025	10-K 12/31/2024
9302024	10292024	10-Q 9/30/2024
6302024	8062024	10-Q 6/30/2024
3312024	5022024	10-Q 3/31/2024
12312023	2262024	10-K 12/31/2023
9302023	10312023	10-Q 9/30/2023
6302023	8012023	10-Q 6/30/2023
3312023	4252023	10-Q 3/31/2023
12312022	2142023	10-K 12/31/2022
9302022	10252022	10-Q 9/30/2022
6302022	7262022	10-Q 6/30/2022
3312022	4262022	10-Q 3/31/2022
12312021	2102022	10-K 12/31/2021

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Shutterstock (SSTK)

Market Price (12/23/2025): $19.17 | Market Cap: $680.2 MilSector: Communication Services | Industry: Interactive Media & Services

Shutterstock (SSTK)

Market Price (12/23/2025): $19.17Market Cap: $680.2 MilSector: Communication ServicesIndustry: Interactive Media & Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

SSTK Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Shutterstock (SSTK)

Interactive Breakdown

Better Bets than Shutterstock (SSTK)

INDUSTRY: Interactive Media & Services

Higher Rev Chg 3Y Avg | Lower P/S (Values for SSTK: 7.8% | 0.7x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SSTK: 7.8% | 7.4x)

Higher Rev Chg LTM (Value for SSTK: 13.1%)

Higher Rev Chg 3Y Avg (Value for SSTK: 7.8%)

Higher Op Mgn LTM (Value for SSTK: 8.9%)

Higher CFO/Rev LTM (Value for SSTK: 13.6%)

Higher FCF/Rev LTM (Value for SSTK: 8.8%)

Higher Total Yield (Value for SSTK: 15.7%)

SECTOR: Communication Services

Higher Rev Chg 3Y Avg | Lower P/S (Values for SSTK: 7.8% | 0.7x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SSTK: 7.8% | 7.4x)

Higher Rev Chg LTM (Value for SSTK: 13.1%)

Higher Rev Chg 3Y Avg (Value for SSTK: 7.8%)

Higher Op Mgn LTM (Value for SSTK: 8.9%)

Higher CFO/Rev LTM (Value for SSTK: 13.6%)

Higher FCF/Rev LTM (Value for SSTK: 8.8%)

Higher Total Yield (Value for SSTK: 15.7%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for SSTK: 7.8% | 0.7x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SSTK: 7.8% | 7.4x)

Higher Rev Chg LTM (Value for SSTK: 13.1%)

Higher Rev Chg 3Y Avg (Value for SSTK: 7.8%)

Higher Op Mgn LTM (Value for SSTK: 8.9%)

Higher CFO/Rev LTM (Value for SSTK: 13.6%)

Higher FCF/Rev LTM (Value for SSTK: 8.8%)

Higher Total Yield (Value for SSTK: 15.7%)

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Financials

Market Price (12/23/2025): $19.17 | Market Cap: $680.2 Mil
Sector: Communication Services | Industry: Interactive Media & Services

Market Price (12/23/2025): $19.17
Market Cap: $680.2 Mil
Sector: Communication Services
Industry: Interactive Media & Services