Shutterstock (SSTK)

Fixed asset turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	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	649,328	645,029	637,492	631,122
Property, plant and equipment	US$ in thousands	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	58,834	63,155	68,350	72,553
Fixed asset turnover		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	11.04	10.21	9.33	8.70

December 31, 2023 calculation

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

Shutterstock Inc's fixed asset turnover ratio has shown a consistent trend of improvement over the previous quarters, ranging from 13.60 to 15.72. This indicates that the company has been generating revenue more efficiently from its fixed assets. The upward trend suggests that Shutterstock is effectively utilizing its fixed assets to generate sales, reflecting operational efficiency and potentially effective capital expenditure decisions. The company's ability to generate higher revenue relative to its investment in fixed assets bodes well for its overall financial performance and management of its asset base.