Shutterstock (SSTK)

Activity ratios

Short-term

Turnover ratios

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
Inventory turnover — — — — — — — — — — — — — — — — — — — —
Receivables turnover 9.61 10.27 13.73 17.45 12.29 15.41 16.43 17.63 16.14 16.45 14.41 13.91 15.17 13.49 13.23 14.30 13.81 13.76 14.39 13.89
Payables turnover 62.99 80.27 88.00 67.87 72.30 106.55 116.49 91.63 63.05 115.54 102.48 87.38 220.75 131.68 123.90 140.76 94.78 135.65 143.14 110.11
Working capital turnover — — — — — — — 22.02 14.15 12.38 3.55 3.91 2.86 3.17 4.09 4.71 4.95 5.55 6.11 7.11

Based on the activity ratios provided for Shutterstock Inc, we can observe the following trends:

1. Receivables Turnover:
- The receivables turnover ratio shows the number of times a company collects its accounts receivable during a period.
- The trend indicates a decline in the receivables turnover from Q1 2022 to Q4 2023, suggesting that the company took longer to collect its receivables in recent quarters.
- A lower receivables turnover could indicate potential issues with credit policies, collection efforts, or the creditworthiness of customers.

2. Payables Turnover:
- The payables turnover ratio measures how efficiently a company pays its suppliers.
- The trend shows fluctuation in payables turnover, with some variability from quarter to quarter.
- The high values of payables turnover indicate that the company is efficiently managing its payables and possibly taking advantage of credit terms offered by suppliers.

3. Working Capital Turnover:
- The working capital turnover ratio reflects how efficiently a company utilizes its working capital to generate sales.
- The absence of data for working capital turnover in all quarters limits a comprehensive analysis of this ratio for Shutterstock Inc.

In conclusion, while the receivables turnover and payables turnover ratios provide insight into the company's collection and payment efficiency, additional data on the working capital turnover ratio would offer a more comprehensive view of Shutterstock Inc's operational efficiency and financial performance.

Average number of days

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
Days of inventory on hand (DOH) days — — — — — — — — — — — — — — — — — — — —
Days of sales outstanding (DSO) days 38.00 35.55 26.58 20.92 29.70 23.69 22.21 20.71 22.61 22.19 25.33 26.24 24.06 27.06 27.59 25.52 26.43 26.52 25.36 26.28
Number of days of payables days 5.80 4.55 4.15 5.38 5.05 3.43 3.13 3.98 5.79 3.16 3.56 4.18 1.65 2.77 2.95 2.59 3.85 2.69 2.55 3.31

Days of inventory on hand (DOH) provides insight into how efficiently Shutterstock Inc manages its inventory. Unfortunately, there is no data available for this ratio in the provided table, which limits our ability to assess the company's inventory management.

Days of sales outstanding (DSO) indicates how long it takes for Shutterstock Inc to collect payment after making a sale. The trend shows a decrease from Q1 2022 to Q4 2022, suggesting an improvement in the company's collection process. However, in Q1 2023, DSO increased significantly to 20.89 days, indicating a potential slowdown in collections compared to the previous quarter.

The number of days of payables reveals how long it takes Shutterstock Inc to pay its suppliers. The data shows fluctuations in this ratio over the quarters, with the highest number of days in Q1 2022 (9.22 days) and the lowest in Q2 2023 (6.73 days). A lower number of days of payables may indicate better liquidity or negotiation power, while a higher number may suggest cash flow constraints or extended payment terms.

Overall, while DSO has shown improvement, further analysis of DOH would provide a more holistic view of Shutterstock Inc's activity ratios. The trend in days of payables indicates variability in the company's payment practices, which can impact cash flow management and relationships with suppliers.

Long-term

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
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
Total asset turnover 0.85 0.86 0.84 1.00 0.94 0.97 0.95 0.99 0.90 0.89 0.90 0.91 0.91 0.95 1.03 1.05 1.03 1.05 1.08 1.07

Shutterstock Inc's fixed asset turnover ratio has remained relatively stable over the past eight quarters, ranging from 13.60 to 15.72. This indicates that the company generates between $13.60 and $15.72 in sales for every dollar invested in fixed assets. The consistently high fixed asset turnover suggests efficient utilization of the company's long-term assets to generate revenue.

On the other hand, the total asset turnover ratio fluctuated between 0.84 and 1.00 over the same period. This ratio reflects the company's ability to generate sales from all its assets, including both fixed and current assets. The fluctuation in the total asset turnover ratio may indicate changes in the company's asset structure or business operations impacting its overall efficiency in generating revenue.

Overall, the high and relatively stable fixed asset turnover ratio combined with fluctuating total asset turnover ratios suggest that Shutterstock Inc effectively utilizes its fixed assets to drive revenue but may benefit from optimizing the utilization of its total assets to enhance overall operational efficiency.