Shutterstock (SSTK)

Working capital 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 current assets	US$ in thousands	292,573	215,671	388,215	489,070	376,980
Total current liabilities	US$ in thousands	452,386	383,734	333,784	256,929	245,894
Working capital turnover		—	—	14.15	2.89	4.97

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $875,466K ÷ ($292,573K – $452,386K)
= —

The working capital turnover ratio for Shutterstock Inc has shown significant fluctuations over the past five years. In 2019, the ratio stood at 4.96, indicating that the company generated $4.96 in revenue for every dollar of working capital invested.

However, this ratio increased substantially in 2021 to 14.21. This sharp increase suggests that Shutterstock Inc efficiently utilized its working capital to generate sales revenue during this period. A higher working capital turnover ratio generally indicates that the company is managing its working capital effectively to support its operations and sales growth.

It is important to note that the lack of data for 2020 and 2022 makes it challenging to assess the trend and performance continuity of the working capital turnover ratio. Further analysis of the company's financial performance and working capital management practices may be necessary to gain a more comprehensive understanding of its operational efficiency and financial health.