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Shutterstock Valuation Multiples

Discover revenue and EBITDA valuation multiples for Shutterstock and similar public comparables like IndiaMART InterMESH, Meatbox Global, and Copart.

Shutterstock Overview

About Shutterstock

Shutterstock Inc is a U.S.-based company that is engaged in the provision of digital content. The content segment, whose offerings include licenses for Images, Footage, Music, 3 Dimensional, and Generative AI content. Data, Distribution, and Service offerings address customer demand for products and services that are beyond its Content licenses. The company generates the majority of its revenue from Content offerings. Geographically the company generates the majority of its revenue from the Domestic market, but also has its presence in Europe and Rest of the Countries.


Founded

2012

HQ

United States of America
Employees

1.7K+

Financials

LTM Revenue $964M

LTM EBITDA $256M

EV

$719M

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Shutterstock Financials

Shutterstock has a last 12-month revenue of $964M and a last 12-month EBITDA of $256M.

In the most recent fiscal year, Shutterstock achieved revenue of $935M and an EBITDA of $161M.

Shutterstock expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

See Shutterstock valuation multiples based on analyst estimates

Shutterstock P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $875M $935M XXX XXX XXX
Gross Profit $514M $522M XXX XXX XXX
Gross Margin 59% 56% XXX XXX XXX
EBITDA $204M $161M XXX XXX XXX
EBITDA Margin 23% 17% XXX XXX XXX
Net Profit $76.1M $110M XXX XXX XXX
Net Margin 9% 12% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Shutterstock Stock Performance

As of April 15, 2025, Shutterstock's stock price is $15.

Shutterstock has current market cap of $529M, and EV of $719M.

See Shutterstock trading valuation data

Shutterstock Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$719M $529M XXX XXX XXX XXX $1.43

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Shutterstock Valuation Multiples

As of April 15, 2025, Shutterstock has market cap of $529M and EV of $719M.

Shutterstock's trades at 0.7x LTM EV/Revenue multiple, and 2.8x LTM EBITDA.

Analysts estimate Shutterstock's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Shutterstock Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $719M XXX XXX XXX
EV/Revenue 0.8x XXX XXX XXX
EV/EBITDA 4.5x XXX XXX XXX
P/E 14.7x XXX XXX XXX
P/E/Growth 0.2x XXX XXX XXX
EV/FCF -38.7x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Shutterstock Valuation Multiples

Shutterstock's NTM/LTM revenue growth is 8%

Shutterstock's revenue per employee for the last fiscal year averaged $0.5M, while opex per employee averaged $0.3M for the same period.

Over next 12 months, Shutterstock's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Shutterstock's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Shutterstock Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 7% XXX XXX XXX XXX
EBITDA Margin 17% XXX XXX XXX XXX
EBITDA Growth -21% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 26% XXX XXX XXX XXX
Revenue per Employee $0.5M XXX XXX XXX XXX
Opex per Employee $0.3M XXX XXX XXX XXX
S&M Expenses to Revenue 24% XXX XXX XXX XXX
G&A Expenses to Revenue 16% XXX XXX XXX XXX
R&D Expenses to Revenue 9% XXX XXX XXX XXX
Opex to Revenue 50% XXX XXX XXX XXX

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Shutterstock Public Comps

See public comps and valuation multiples for B2B Marketplaces and Vertical Marketplaces comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
IndiaMART InterMESH XXX XXX XXX XXX XXX XXX
Meatbox Global XXX XXX XXX XXX XXX XXX
Amadeus IT Group XXX XXX XXX XXX XXX XXX
HBX Group XXX XXX XXX XXX XXX XXX
Copart XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Shutterstock M&A and Investment Activity

Shutterstock acquired  XXX companies to date.

Last acquisition by Shutterstock was  XXXXXXXX, XXXXX XXXXX XXXXXX . Shutterstock acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Shutterstock

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Shutterstock

When was Shutterstock founded? Shutterstock was founded in 2012.
Where is Shutterstock headquartered? Shutterstock is headquartered in United States of America.
How many employees does Shutterstock have? As of today, Shutterstock has 1.7K+ employees.
Who is the CEO of Shutterstock? Shutterstock's CEO is Mr. Paul J. Hennessy.
Is Shutterstock publicy listed? Yes, Shutterstock is a public company listed on NYS.
What is the stock symbol of Shutterstock? Shutterstock trades under SSTK ticker.
When did Shutterstock go public? Shutterstock went public in 2012.
Who are competitors of Shutterstock? Similar companies to Shutterstock include e.g. IndiaMART InterMESH, Meatbox Global, Amadeus IT Group, HBX Group.
What is the current market cap of Shutterstock? Shutterstock's current market cap is $529M
What is the current revenue of Shutterstock? Shutterstock's last 12-month revenue is $964M.
What is the current EBITDA of Shutterstock? Shutterstock's last 12-month EBITDA is $256M.
What is the current EV/Revenue multiple of Shutterstock? Current revenue multiple of Shutterstock is 0.7x.
What is the current EV/EBITDA multiple of Shutterstock? Current EBITDA multiple of Shutterstock is 2.8x.
What is the current revenue growth of Shutterstock? Shutterstock revenue growth between 2023 and 2024 was 7%.
Is Shutterstock profitable? Yes, Shutterstock is EBITDA-positive (as of the last 12 months).

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