Shutterstock (SSTK)

Fixed asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	932,869	902,216	882,354	872,467	875,466	876,879	847,509	842,783	826,489	812,053	802,190	789,207	770,112	745,582	716,961	685,134	665,050	650,477	644,873	646,683
Property, plant and equipment	US$ in thousands	66,400	68,623	63,069	63,430	64,300	61,929	59,434	56,604	54,548	55,141	52,549	50,206	48,074	48,866	49,990	50,366	50,906	52,686	54,240	56,896
Fixed asset turnover		14.05	13.15	13.99	13.75	13.62	14.16	14.26	14.89	15.15	14.73	15.27	15.72	16.02	15.26	14.34	13.60	13.06	12.35	11.89	11.37

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $932,869K ÷ $66,400K
= 14.05

The fixed asset turnover ratio for Shutterstock has shown a generally increasing trend from March 31, 2020, to December 31, 2024.

The ratio increased from 11.37 on March 31, 2020, to a peak of 16.02 on December 31, 2021. This indicates that Shutterstock was generating $16.02 in revenue for every dollar invested in fixed assets at the end of 2021.

After reaching its peak, the fixed asset turnover ratio experienced some fluctuations but generally trended downward to 14.05 on December 31, 2024. This could imply that efficiencies in utilizing fixed assets for revenue generation slightly declined over this period.

Overall, a fixed asset turnover ratio above 1 indicates that the company was effectively utilizing its fixed assets to generate revenues. However, the declining trend suggests a need for Shutterstock to further optimize its asset utilization to enhance profitability and efficiency.