Shutterstock (SSTK)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	68,400	93,624	108,106	85,266	20,155
Revenue	US$ in thousands	875,466	826,488	770,112	669,753	651,063
Operating profit margin		7.81%	11.33%	14.04%	12.73%	3.10%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $68,400K ÷ $875,466K
= 7.81%

Shutterstock Inc's operating profit margin has experienced fluctuations over the past five years. The margin declined from 13.98% in 2021 to 12.79% in 2020, before experiencing a significant increase to 13.56% in 2022. However, in the most recent year 2023, the operating profit margin decreased to 7.82%. This fluctuation indicates potential changes in the company's operational efficiency and cost structure. Further analysis is warranted to understand the factors driving these fluctuations and to assess the company's ability to maintain profitability in the future.