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Shutterstock Valuation Multiples

Discover revenue and EBITDA valuation multiples for Shutterstock and similar public comparables like IndiaMART InterMESH, Copart, and Amadeus IT Group.

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 $967M

LTM EBITDA $257M

EV

$837M

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Shutterstock Financials

Shutterstock has a last 12-month revenue (LTM) of $967M and a last 12-month EBITDA of $257M.

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

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Shutterstock P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $967M XXX $935M XXX XXX XXX
Gross Profit $608M XXX $539M XXX XXX XXX
Gross Margin 63% XXX 58% XXX XXX XXX
EBITDA $257M XXX $161M XXX XXX XXX
EBITDA Margin 27% XXX 17% XXX XXX XXX
EBIT $86.8M XXX $68.7M XXX XXX XXX
EBIT Margin 9% XXX 7% XXX XXX XXX
Net Profit $54.8M XXX $35.9M XXX XXX XXX
Net Margin 6% XXX 4% XXX XXX XXX
Net Debt XXX XXX $166M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Shutterstock Stock Performance

As of May 30, 2025, Shutterstock's stock price is $18.

Shutterstock has current market cap of $650M, and EV of $837M.

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Shutterstock Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$837M $650M XXX XXX XXX XXX $1.56

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Shutterstock Valuation Multiples

As of May 30, 2025, Shutterstock has market cap of $650M and EV of $837M.

Shutterstock's trades at 0.9x EV/Revenue multiple, and 5.2x EV/EBITDA.

Equity research analysts estimate Shutterstock's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Shutterstock has a P/E ratio of 11.9x.

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Shutterstock Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $650M XXX $650M XXX XXX XXX
EV (current) $837M XXX $837M XXX XXX XXX
EV/Revenue 0.9x XXX 0.9x XXX XXX XXX
EV/EBITDA 3.3x XXX 5.2x XXX XXX XXX
EV/EBIT 9.6x XXX 12.2x XXX XXX XXX
EV/Gross Profit 1.4x XXX n/a XXX XXX XXX
P/E 11.9x XXX 18.1x XXX XXX XXX
EV/FCF n/a XXX -45.0x XXX XXX XXX

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

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Shutterstock Margins & Growth Rates

Shutterstock's last 12 month revenue growth is 6%

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

Shutterstock's rule of 40 is 29% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Shutterstock's rule of X is 41% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Shutterstock Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 6% XXX 5% XXX XXX XXX
EBITDA Margin 27% XXX 17% XXX XXX XXX
EBITDA Growth 6% XXX 15% XXX XXX XXX
Rule of 40 29% XXX 23% XXX XXX XXX
Bessemer Rule of X XXX XXX 41% XXX XXX XXX
Revenue per Employee XXX XXX $0.5M XXX XXX XXX
Opex per Employee XXX XXX $0.3M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 24% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 9% XXX XXX XXX
Opex to Revenue XXX XXX 50% XXX XXX XXX

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

Valuation Multiples Across 220+ Verticals

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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 $650M
What is the current revenue of Shutterstock? Shutterstock's last 12 months revenue is $967M.
What is the current revenue growth of Shutterstock? Shutterstock revenue growth (NTM/LTM) is 6%.
What is the current EV/Revenue multiple of Shutterstock? Current revenue multiple of Shutterstock is 0.9x.
Is Shutterstock profitable? Yes, Shutterstock is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Shutterstock? Shutterstock's last 12 months EBITDA is $257M.
What is Shutterstock's EBITDA margin? Shutterstock's last 12 months EBITDA margin is 27%.
What is the current EV/EBITDA multiple of Shutterstock? Current EBITDA multiple of Shutterstock is 3.3x.

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