Shutterstock (SSTK)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	875,466	826,488	770,112	669,753	651,063
Property, plant and equipment	US$ in thousands	64,300	54,548	48,074	50,906	58,834
Fixed asset turnover		13.62	15.15	16.02	13.16	11.07

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $875,466K ÷ $64,300K
= 13.62

The fixed asset turnover for Shutterstock Inc has exhibited a fluctuating trend over the past five years. In 2023, the fixed asset turnover ratio decreased to 13.60 from a high of 16.09 in 2021. This suggests that the company generated $13.60 in revenue for every dollar invested in fixed assets in 2023. Despite the decrease, the ratio remains relatively high, indicating efficient utilization of fixed assets to generate sales. Overall, the company has demonstrated a consistent ability to generate revenue from its fixed assets, albeit with some fluctuations in recent years.