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Shutterstock, Inc. (SSTK) stock

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NYSE: SSTK NYSE Interactive Media & Services Next results ~November 5, 2026

D Fundamentals grade

Shutterstock operates a creative platform that connects businesses and brands with licensable digital content. Its Content offering spans photographs, vectors and illustrations, video footage, music and sound effects, and 3D models, alongside images produced by generative AI. Contributors worldwide upload their work and earn royalties as it is licensed, while customers search, license and download material for their projects.

Content licences generate most of the business, sold through subscription plans billed monthly or annually, or per download via its self-service websites, with larger clients served by dedicated sales teams. Customers include corporate marketing and communications teams, media and broadcast organisations, and small businesses and individual creators. A separate Data, Distribution and Services line sells image metadata for AI and machine-learning model training, custom production through Shutterstock Studios, and advertising and distribution via its Giphy GIF platform.

Content is distributed under brands including the flagship Shutterstock, Pond5, TurboSquid, PicMonkey, PremiumBeat, Bigstock and Envato. In 2025 more than 3.5 million customers in over 150 countries licensed content. In January 2025 the company agreed a merger-of-equals with Getty Images, after which its shares would be delisted from the New York Stock Exchange.

Based on Shutterstock, Inc.'s 10-K filed February 17, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$26

Revenue-to-maturity cash-flow model

Base case. Range ~$26–$34 across our lower- and higher-growth cases (0%–5% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 549% above it.

Price used: $4.07, November 3, 2026

Shutterstock, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds78 adding, 80 cuttingOf 22 active managers that changed their stake, 13 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Shutterstock files

Where Shutterstock stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $901m, down 10.8% on a year earlier, slower than -1.8% a quarter earlier. That puts it 22 of 23 for growth among the internet and data companies we cover. Free-cash-flow margin rose to 10.0% from 0.3% a year earlier. Operating margin narrowed to -17.3% from 7.5%. The diluted share count is up 2.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 6 financial-health checks. Our revenue-to-maturity cash-flow model value is $34.47 a share, against a share price of $4.47.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Shutterstock, Inc.'s trailing-twelve-month revenue fell 10.8% year on year, with a free-cash-flow margin of 10.0%. Where it lags: change in growth rate of -9.0pp ranks 59 of 63 interactive media & services companies we cover.

Current signal Revenue growth decelerating: TTM revenue growth slowed to -10.8% (-9.0pp vs the prior quarter), the 4th consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $4.20 is 25% below our value per share of $5.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 10.8% over the last 12 months.
  • Growth slowing. The growth rate is 9.0 points lower than a quarter earlier.
  • Loss-making. Operating margin is -17.3%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 24.9 points on a year ago.
  • Share dilution. Diluted shares rose 2.9% in a year.

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$0.58 against an average estimate of $0.96: missed by 39.6%
Revenue
$222m, down 16.9% on a year earlier
Share reaction
-1.8% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Next report
November 5, 2026

Shutterstock's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.2%
  • 1 week-7.2%
  • 1 month+6.7%
  • This year-76.9%
  • 1 year-80.8%
  • 5 years-96.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$901M
Operating margin
-17.3%
Net margin
-22.9%
EPS (TTM, diluted)
$-5.65

Growth

Revenue growth
−10.8%
Change in growth rate
−9.0 pts
Share count change
+2.9%

Cash

Free cash flow (TTM)
$90.1M
FCF margin
10.0%
Stock pay % of revenue
5.9%

Earnings

Last results
August 5, 2026
Next results (est.)
November 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Leadership
  3. Results
  4. Leadership
  5. Leadership
  6. Agreement ended

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Shutterstock, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$5.3
Price used
$4.08close November 3, 2026
Implied change
▲ +29%
Uncertainty
Medium

How we got here: the combined value of 3 valuation models built for a business like Shutterstock, Inc. (see the models table below and how they are combined) , with a 9.51% cost of equity. The models span ~$3.9–~$7.5; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value Shutterstock, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.02 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$26 ~$26–$34 Left out: out of range vs price (6.28x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$5.5 ~$3.9–$7.5 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$3.9 ~$3.5–$4.3 Included
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$7.5 ~$15–$67 Included, half weight
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$5.3 ~$3.9–$7.5 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Shutterstock, Inc. with Interactive Media & Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$36.40$32.96$29.25$34.83$59.10$92.17$44.52$41.67$27.06$18.21$4.20
Market value$1.3bn$1.2bn$1.0bn$1.2bn$2.1bn$3.4bn$1.6bn$1.5bn$965m$660m$153m
+ Net debt (− = net cash)−$224m−$253m−$231m−$303m−$429m−$314m−$65m−$70m$166m$97m$140m
Enterprise value$1.1bn$910m$805m$936m$1.7bn$3.1bn$1.6bn$1.4bn$1.1bn$757m$293m
Multiples
Price / sales 2.6x2.1x1.7x1.9x3.2x4.4x2.0x1.7x1.0x0.7x0.2x
Price / earnings 40.0x69.5x18.9x61.6x30.0x37.4x21.4x13.7x26.9x14.5x—
Price / free cash flow 21.5x22.0x15.4x16.2x15.4x18.3x14.1x15.7x—5.3x1.7x
EV / EBITDA 16.4x14.7x10.3x13.4x13.6x19.9x9.6x9.7x7.2x4.6x—

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

62 /100

Moderate moat

How hard Shutterstock's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 14.7% of total assets over 9 years.

  • Pricing power 19 / 20

    Gross margin has been a median 58.1%, moving by 2.7 percentage points (standard deviation) across 9 years.

  • Durability 1 / 20

    Operating margin has been a median 6.4%; its worst year was -17.3%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 9 of 9 years, at a median 10.2% of revenue.

  • Discipline 13 / 20

    The diluted share count fell 1.4% over five years; stock-based pay has been a median 5.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (67 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open.

Analysts' consensus

No analyst estimates are published for Shutterstock, Inc.: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Mar 2026 $0.96 $0.58 −39.6%
Dec 2025 $1.13 $0.67 −40.4%
Sept 2025 $1.15 $0.99 −13.9%
Jun 2025 $1.13 $1.19 +5.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026

No numeric guidance in Shutterstock, Inc.'s latest earnings release (filed August 5, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

1 analysts, Oct 2026
Buy00%
Hold1100%
Sell00%

Monthly trend

  1. Oct 202611

Counts of recommendations published by analysts covering Shutterstock, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.8%
of tradable shares
Days to cover
2.49
at average volume
Short interest, 1 month
−7%
to October 15, 2026
Held by institutions
55%
of shares
Held by insiders
31.2%
of shares
Employees
1,565
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −82.1%

$23.46 on October 31, 2025 to $4.20

ThenNowEffect
Revenue (last 12 months) $1.0bn $901m −10.8%
P/S multiple 0.8x 0.2x −79.3%
Share count 35m 37m −2.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −88.3%

$35.78 on November 3, 2023 to $4.20

ThenNowEffect
Revenue (last 12 months) $846m $901m +6.5%
P/S multiple 1.5x 0.2x −88.9%
Share count 36m 37m −0.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SSTK+56%−52%−6%−35%−33%−77%
Industry peers (median)−26%−54%−2%−19%−7%−22%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SSTK58%17%42%17%50%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SSTK−21%−58%−57%−43%−57%−80%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 96% from October 18, 2021 to October 2, 2026. Getting back needed a 2644% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.81 – $21.46
From 52-week high
−80.4%
vs 50-day average
−10.6%
vs 200-day average
−63.4%
Volatility (1 year)
69%
Beta vs S&P 500
1.19

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±5.6%
After a week
6 up, 6 down
typical move ±8.6%
After a month
5 up, 7 down
typical move ±10.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −1.8% −0.4% −6.3% −4.2%
April 28, 2026 −5.1% −0.5% −7.7% −11.8%
February 17, 2026 −12.8% +0.7% −8.6% −0.8%
November 5, 2025 +1.2% −0.7% +1.5% −10.9%
July 29, 2025 −0.6% −0.4% +1.7% +3.8%
May 2, 2025 +6.6% +0.9% +13.3% +12.5%
February 25, 2025 −6.9% −0.4% −14.8% −23.0%
October 29, 2024 +12.2% −0.1% +10.9% +7.6%
August 6, 2024 −3.7% +0.2% −5.1% −7.7%
May 2, 2024 −7.5% +2.2% −5.4% −6.1%
February 21, 2024 +0.6% +2.2% +6.6% +9.2%
October 31, 2023 +8.8% +1.7% +21.2% +28.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Shutterstock, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade D (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Shutterstock, Inc. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Shutterstock, Inc.
$850M $900M $950M $1B $1.1B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $875.1M Revenue (TTM), FY23 Q4: $874.6M Revenue (TTM), FY24 Q1: $873.6M Revenue (TTM), FY24 Q2: $884.8M Revenue (TTM), FY24 Q3: $902.2M Revenue (TTM), FY24 Q4: $935.3M Revenue (TTM), FY25 Q1: $963.6M Revenue (TTM), FY25 Q2: $1B Revenue (TTM), FY25 Q3: $1B Revenue (TTM), FY25 Q4: $989.9M Revenue (TTM), FY26 Q1: $946.5M Revenue (TTM), FY26 Q2: $901.3M $901.3M

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $875.1M
FY23 Q4 $874.6M
FY24 Q1 $873.6M
FY24 Q2 $884.8M
FY24 Q3 $902.2M
FY24 Q4 $935.3M
FY25 Q1 $963.6M
FY25 Q2 $1B
FY25 Q3 $1B
FY25 Q4 $989.9M
FY26 Q1 $946.5M
FY26 Q2 $901.3M
Revenue growth, TTM YoY Shutterstock, Inc.
-20% -10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 7.3% Revenue growth, TTM YoY, FY23 Q4: 5.6% Revenue growth, TTM YoY, FY24 Q1: 3.5% Revenue growth, TTM YoY, FY24 Q2: 4.6% Revenue growth, TTM YoY, FY24 Q3: 3.1% Revenue growth, TTM YoY, FY24 Q4: 6.9% Revenue growth, TTM YoY, FY25 Q1: 10.3% Revenue growth, TTM YoY, FY25 Q2: 14.2% Revenue growth, TTM YoY, FY25 Q3: 13.1% Revenue growth, TTM YoY, FY25 Q4: 5.8% Revenue growth, TTM YoY, FY26 Q1: -1.8% Revenue growth, TTM YoY, FY26 Q2: -10.8% -10.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 7.3%
FY23 Q4 5.6%
FY24 Q1 3.5%
FY24 Q2 4.6%
FY24 Q3 3.1%
FY24 Q4 6.9%
FY25 Q1 10.3%
FY25 Q2 14.2%
FY25 Q3 13.1%
FY25 Q4 5.8%
FY26 Q1 -1.8%
FY26 Q2 -10.8%
Operating margin (TTM) Shutterstock, Inc.
-20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 8.4% Operating margin (TTM), FY23 Q4: 7.8% Operating margin (TTM), FY24 Q1: 5.1% Operating margin (TTM), FY24 Q2: 6.4% Operating margin (TTM), FY24 Q3: 6.4% Operating margin (TTM), FY24 Q4: 7.3% Operating margin (TTM), FY25 Q1: 6.5% Operating margin (TTM), FY25 Q2: 7.5% Operating margin (TTM), FY25 Q3: 8.9% Operating margin (TTM), FY25 Q4: 7.6% Operating margin (TTM), FY26 Q1: 3.6% Operating margin (TTM), FY26 Q2: -17.3% -17.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 8.4%
FY23 Q4 7.8%
FY24 Q1 5.1%
FY24 Q2 6.4%
FY24 Q3 6.4%
FY24 Q4 7.3%
FY25 Q1 6.5%
FY25 Q2 7.5%
FY25 Q3 8.9%
FY25 Q4 7.6%
FY26 Q1 3.6%
FY26 Q2 -17.3%
FCF margin (TTM) Shutterstock, Inc.
-5% 0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 14.0% FCF margin (TTM), FY23 Q4: 11.0% FCF margin (TTM), FY24 Q1: 4.0% FCF margin (TTM), FY24 Q2: 3.9% FCF margin (TTM), FY24 Q3: 1.2% FCF margin (TTM), FY24 Q4: -1.6% FCF margin (TTM), FY25 Q1: 0.6% FCF margin (TTM), FY25 Q2: 0.3% FCF margin (TTM), FY25 Q3: 9.5% FCF margin (TTM), FY25 Q4: 12.5% FCF margin (TTM), FY26 Q1: 12.2% FCF margin (TTM), FY26 Q2: 10.0% 10.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 14.0%
FY23 Q4 11.0%
FY24 Q1 4.0%
FY24 Q2 3.9%
FY24 Q3 1.2%
FY24 Q4 -1.6%
FY25 Q1 0.6%
FY25 Q2 0.3%
FY25 Q3 9.5%
FY25 Q4 12.5%
FY26 Q1 12.2%
FY26 Q2 10.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Shutterstock took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $990M
  2. Cost of revenue $407M · 41.1%
  3. Gross profit $583M · 58.9%
  4. Research and development $89M · 9.0%
  5. Selling, general and admin $419M · 42.3%
  6. Operating income $75.1M · 7.6%
  7. Income tax $29.8M · 3.0%
  8. Net income $45.5M · 4.6%

Shares of revenue. Source: Shutterstock's 10-K for FY2025, as filed with the SEC.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 494 557 623 651 667 773 828 875 935 990 901
Gross profit 291 324 356 372 407 496 514 522 539 583 513
EBITDA 66 62 78 70 127 157 162 148 156 166 −77
Operating income 46 26 32 20 85 108 94 68 69 75 −156
Net income 33 17 55 20 72 92 76 110 36 45 −206
Diluted EPS $0.91 $0.47 $1.54 $0.57 $1.97 $2.46 $2.08 $3.04 $1.01 $1.25 −$5.65
Growth (year on year)
Revenue — +12.7% +11.9% +4.4% +2.5% +16.0% +7.0% +5.6% +6.9% +5.8% −10.8%
EBITDA — −5.9% +26.3% −10.3% +80.7% +23.9% +3.3% −8.6% +5.5% +6.2% −149.7%
Operating income — −42.5% +23.2% −37.9% +323.1% +26.8% −13.4% −26.9% +0.5% +9.2% −304.7%
Net income — −48.7% +226.9% −63.2% +256.9% +28.0% −17.2% +44.9% −67.4% +26.6% −420.5%
Diluted EPS — −48.4% +227.7% −63.0% +245.6% +24.9% −15.4% +46.2% −66.8% +23.8% −411.4%
Margins
Gross margin 58.9% 58.2% 57.1% 57.2% 61.1% 64.1% 62.0% 59.7% 57.6% 58.9% 56.9%
EBITDA margin 13.3% 11.1% 12.5% 10.8% 19.0% 20.3% 19.6% 16.9% 16.7% 16.8% −8.5%
Operating margin 9.3% 4.7% 5.2% 3.1% 12.8% 14.0% 11.3% 7.8% 7.3% 7.6% −17.3%
Net margin 6.6% 3.0% 8.8% 3.1% 10.8% 11.9% 9.2% 12.6% 3.8% 4.6% −22.9%
Free-cash-flow margin 12.3% 9.5% 10.8% 11.8% 20.9% 24.3% 13.9% 11.0% −1.6% 12.5% 10.0%
Cash flow
Cash from operations 101 108 102 103 165 216 158 141 33 167 133
Capital spending 40 55 35 26 26 28 43 45 47 43 42
Free cash flow 61 53 67 77 139 188 115 96 −15 124 90
Stock-based pay 28 25 24 23 28 36 36 49 56 61 53
Free cash flow after stock pay 33 28 43 54 111 152 79 47 −71 63 37
Balance sheet
Cash 224 253 231 303 429 314 115 100 111 178 133
Total debt 0 0 0 0 0 0 50 30 278 275 273
Net debt (negative = net cash) −224 −253 −231 −303 −429 −314 −65 −70 166 97 140
Diluted shares 36m 35m 35m 36m 36m 37m 37m 36m 36m 36m 37m
Returned to shareholders
Dividends 0 0 105 0 24 31 35 39 42 47 49
Buybacks 60 25 0 0 0 26 73 28 42 0 —
Total returned 60 25 105 0 24 57 108 67 84 47 49

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · June 30, 2026
What it owns · $1.1bn
Short-term assets $279mLonger-term assets $813m
What it owes, and who funded it · $1.1bn
Short-term liabilities $587mLonger-term liabilities $142mShareholders' equity $364m
  • Short-term assets cover short-term liabilities $279m of assets due within a year against $587m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $279m short-term assets against $142m of longer-dated liabilities.
  • More cash than debt $133m of cash against $273m of debt.
  • Debt below 40% of shareholders' equity Debt is 75% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $133m of operating cash flow against $273m of debt.
  • Operating profit covers interest at least five times over Operating income of −$156m against $16m of interest.

From Shutterstock, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$49.4M
Buybacks, last 3 fiscal years
$69.8M
Diluted share count
+2.9%
year over year
Total shareholder yield
32.0%
dividends 32.0% + buybacks 0.0% of market value
R&D spending
9.5%
of revenue
Days sales outstanding
41 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in interactive media & services
Last 12 months unless stated SSTK ATHM BMBL NRDS CARG ANGI Median
Revenue, last 12 months $901m $898m $893m $860m $967m $993m $615m
Revenue growth, last 12 months −10.8% −8.2% −13.3% 11.5% 13.9% −8.8% 2.4%
Revenue growth, 3-year average 2.1% 65.5% −2.9% 12.9% −6.5% −13.2% 5.0%
Revenue growth, latest quarter −16.9% — −15.2% 5.6% 13.1% −10.9% 2.4%
Gross margin 56.9% 72.4% 72.8% 93.5% 92.3% 95.7% 60.4%
Operating margin −17.3% 11.9% −62.6% 10.2% 28.6% −21.7% 0.3%
Operating margin, 3-year average −1.1% 23.2% −52.5% 4.7% 23.9% −5.5% −0.4%
Net margin −22.9% 22.4% −58.0% 7.6% 18.2% −22.3% 3.8%
Cash from operations / revenue 14.7% 13.8% 29.9% 19.1% 33.0% 6.1% 11.4%
Free-cash-flow margin 10.0% 12.0% 27.9% 19.0% 32.6% −0.5% 7.5%
Free-cash-flow margin, 3-year average 4.7% 31.9% 17.0% 15.3% 24.9% 3.5% 7.2%
Stock pay / revenue 5.9% 3.4% 4.7% 3.2% 5.3% 2.0% 3.7%
Change in share count 2.9% −3.0% — −7.6% −8.1% −15.8% 2.0%

Median of all 63 companies we cover in interactive media & services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

63 interactive media & services companies
Measure Company Peer median Rank
Revenue growth Growth -10.8% 2.4% 54 of 63
Change in growth rate Growth -9.0pp -0.2pp 59 of 63
Gross margin Profitability 56.9% 60.9% 31 of 54
Operating margin Profitability -17.3% 0.3% 46 of 63
Net margin Profitability -22.9% 3.8% 48 of 63
Free-cash-flow margin Cash generation 10.0% 8.9% 27 of 59
Stock pay as % of revenue Cash generation 5.9% 3.9% 36 of 61
Long-term debt as % of assets Balance sheet 10.5% 16.9% 13 of 32
Change in share count Balance sheet 2.9% 1.7% 32 of 55
Days sales outstanding Balance sheet 41 days 49 days 23 of 54

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Content $787M 79.5% ▲ 3.5%
Data Distribution and Services $203M 20.5% ▲ 16.0%
Geography
Region Revenue Share YoY
North America $509M 51.4% ▲ 7.3%
Europe $265M 26.7% ▲ 7.7%
All Regions of The World Except North America and Europe $216M 21.8% ▲ 0.6%

From Shutterstock, Inc.'s 10-K filed February 17, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$277M
Institutions reporting
163
Shares held vs prior quarter
▼ 11.3%
Positions opened / closed
29 / 32

Top buyers and sellers, Q2 2026: 78 institutions bought and 80 sold ; the biggest buyer was Exoduspoint Capital Management, LP (+478K shares) and the biggest seller Blackrock, Inc (−1.9M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $37.1M 2.7M 13.4% ▼ 42.2%
LSV Asset Management $23.1M 1.7M 8.3% ▼ 0.8%
Callodine Capital Management, LP $17.4M 1.2M 6.3% ▼ 1.8%
Vanguard Capital Management LLC $15.9M 1.1M 5.7% ▲ 5.4%
Alpine Associates Management Inc. $15.8M 1.1M 5.7% ▼ 0.4%
Dimensional Fund Advisors LP $14.1M 1.0M 5.1% ▲ 0.1%
Invenomic Capital Management LP $11.5M 823K 4.1% ▼ 4.3%
Geode Capital Management, LLC $11.2M 799K 4.0% ▲ 9.8%
Rice Hall James & Associates, LLC $10.6M 758K 3.8% ▲ 3.3%
State Street Corp $10.5M 756K 3.8% ▼ 29.0%
Morgan Stanley $8.5M 607K 3.1% ▼ 15.4%
Exoduspoint Capital Management, LP $6.7M 478K 2.4% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Shutterstock, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • April 28, 2026
  • February 17, 2026
  • November 5, 2025
  • July 29, 2025
  • May 2, 2025

Recent SEC filings

Data status

When each part of this page on Shutterstock, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Shutterstock, Inc. in brief

What does Shutterstock, Inc. do?
Shutterstock, Inc. is a US-listed company in the interactive media & services industry. Its financial year ends in December.
What is Shutterstock, Inc.'s stock ticker?
Shutterstock, Inc. trades under the ticker SSTK on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Shutterstock, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Shutterstock, Inc. reported revenue of $901M, 10.8% lower than a year earlier, according to its SEC filings.
What is Shutterstock, Inc.'s free cash flow?
Shutterstock, Inc.'s free-cash-flow margin is 10.0% of revenue over the trailing twelve months, ranking 27 of the 59 interactive media & services companies we cover.
Who are Shutterstock, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., LSV Asset Management and Callodine Capital Management, LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Shutterstock, Inc.'s market cap?
On November 2, 2026, Shutterstock, Inc.'s market capitalisation was about $153M and net debt of $140M. Market figures come from third-party market data and may be delayed.
Does Shutterstock, Inc. pay a dividend?
Yes: Shutterstock, Inc. paid $49.4M in dividends over the trailing twelve months, a dividend yield of 31.96%.
How much debt does Shutterstock, Inc. have?
Shutterstock, Inc.'s debt-to-equity ratio is 75.1%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Shutterstock, Inc.'s competitors?
In our Interactive Media & Services peer group, the companies closest to Shutterstock, Inc. are Autohome Inc., Bumble Inc., Nerdwallet, Inc., Cargurus, Inc. and Angi Inc. The side-by-side comparison below sets their revenue, margins and growth against Shutterstock, Inc.'s.
When is Shutterstock, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Shutterstock, Inc. announces its own schedule.