Shutterstock (SSTK)

Working capital turnover

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Revenue US$ in thousands 933,431 875,466 826,488 770,112 669,753
Total current assets US$ in thousands 255,958 292,573 215,671 388,215 489,070
Total current liabilities US$ in thousands 625,286 452,386 383,734 333,784 256,929
Working capital turnover — — — 14.15 2.89

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $933,431K ÷ ($255,958K – $625,286K)
= —

The working capital turnover ratio is a measure of how efficiently a company is utilizing its working capital to generate revenue. In Shutterstock's case, the working capital turnover has shown significant improvement over the years.

In December 31, 2020, the working capital turnover was 2.89, indicating that the company generated $2.89 in revenue for every dollar of working capital invested. By December 31, 2021, this ratio had increased significantly to 14.15, suggesting a substantial improvement in the efficiency of working capital utilization.

However, the data for December 31, 2022, December 31, 2023, and December 31, 2024 is not available (represented by "—"), which makes it difficult to track the trend in working capital turnover for those years.

Overall, the significant increase in the working capital turnover ratio from 2020 to 2021 indicates that Shutterstock has been able to improve its efficiency in utilizing its working capital to generate revenue. Investors and analysts should keep an eye on future financial reports to assess the company's ongoing effectiveness in managing working capital.