Shutterstock (SSTK)

Total 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
Total assets	US$ in thousands	1,036,020	881,184	851,710	729,644	630,512
Total asset turnover		0.85	0.94	0.90	0.92	1.03

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $875,466K ÷ $1,036,020K
= 0.85

The total asset turnover ratio for Shutterstock Inc has shown a declining trend over the past five years, decreasing from 1.03 in 2019 to 0.84 in 2023. This indicates that the company's ability to generate revenue from its total assets has been decreasing over this period. A lower total asset turnover ratio may suggest inefficiencies in asset utilization or a decrease in sales generated per dollar of assets. Management should closely monitor this trend and assess the underlying factors contributing to the declining ratio to improve operational efficiency and profitability.