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Shutterstock, Inc (SSTK) Fair Value & Analysis

Communication Services · US · Market cap $577M

SI Shutterstock, Inc logo Shutterstock, Inc SSTK · US
Price$5.86
Fair Value$12.61
Upside+115.2%
Quality55/100
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Healthy Growth
Loss-making · -2.2% net margin
Low debt · generates free cash flow
10.21% dividend yield
Mixed vs. peers (6/14)
Narrow moat 26/100
Evidence: High Range $8.42 – $16.80 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Fair value updated Aug 13, 2026, revised from $27.24 to $12.61 (−53.7%) since Jul 24, 2026. Share price −23.0% over the past month.

A solid business, screening 115% undervalued on our models.

What matters now

  • The price is below even our cautious bear case ($8.42). The market is more pessimistic than our downside scenario.
  • Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range ($8.42 to $16.80) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

$104.56 $5.38 Fair Value $12.61 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range $5.38 – $104.56 · fair‑value band $8.42 – $16.80 · the $5.86 price screens below the $12.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Shutterstock, Inc (SSTK) currently trades at $5.86, while our model-based Fair Value estimate is $12.61, implying the stock looks roughly 115.2% undervalued today. The Quality Score stands at 55/100 (solid quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Shutterstock, Inc generated revenue of $946M at a net margin of -2.2%. Revenue declined 17.9% year over year. It earns a return on equity of -3.9%. Net debt stands at $139M. Fundamentals as of Aug 13, 2026

Our scenario range runs from $8.42 (bear case) to $16.80 (bull case); at $5.86, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 79% below its 52-week high, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -8% fair-value upside, at 115%, SSTK screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF $13.43 $20.53 $30.49 80
Residual Income $4.66 $4.92 $5.13 76
Rev-Margin DCF $11.64 $18.62 $27.43 74
All 26 models by family
DCF Models
FCF DCF $13.57 $21.50 $33.26 38
Owner Earnings $10.40 $16.39 $25.28 31
5Y Revenue Exit $11.64 $18.68 $27.96 39
5Y EBITDA Exit $15.85 $27.15 $41.07 41
5Y P/E Exit $9.80 $14.98 $20.64 38
10Y Revenue Exit $11.95 $18.44 $27.85 36
10Y EBITDA Exit $14.76 $24.03 $37.65 37
10Y P/E Exit $11.13 $15.99 $22.37 35
Earnings-Based
Graham-Dodd $3.14 $13.47 $18.40 54
Lynch FV $3.45 $4.92 $6.40 50
PEG = 1.0 $3.45 $4.92 $6.40 46
EPV $7.13 $8.02 $8.76 59
Dividend Discount
Gordon GGM $3.67 $6.61 $9.11 70
DDM Multi-Stage $3.67 $6.04 $7.07 61
Multiples
P/E Multiple $7.62 $10.16 $12.70 63
P/S Multiple $5.89 $7.85 $9.82 58
P/B Multiple $5.89 $7.85 $9.82 55
EV/EBIT $14.02 $18.49 $22.96 53
EV/EBITDA $18.98 $25.10 $31.22 54
EV/Revenue $10.79 $15.14 $19.49 43
Asset-Based
NCAV (Graham) $2.95 $3.95 $5.90 50
Growth DCF
Growth DCF $13.43 $20.53 $30.49 80
Rev-Margin DCF $11.64 $18.62 $27.43 74
Economic Profit
Residual Income $4.66 $4.92 $5.13 76
ROIC Compounder $7.53 $9.33 $11.59 72
Growth Earnings
Growth-Adj P/E $5.93 $8.48 $11.02 68

Widest divergence: Growth DCF ($18.62) versus Asset-Based ($3.95). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) $946M
Revenue growth (YoY) -17.9%
Net margin -2.2%
Return on equity -3.9%
Free cash flow $124M FY2025
Operating margin -1.5%
More key figures
EPS (TTM) $-0.6200
Dividend yield 10.2%
EPS growth (YoY) -26.0%
Net debt $139M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 59 · Market factors (momentum, volatility) 8

Profitability 46
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 28
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 74
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Shutterstock, Inc. provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally.

Full company description

Shutterstock, Inc. provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage. It also provides 3 dimensional models consisting of 3D models used in various industries, such as advertising, media and video production, gaming, retail, education, design, and architecture; and generative AI content comprising images generated from algorithms trained with ethically sourced content. In addition, the company operates a collection of graphics interchange format visuals and stickers that supplies casual conversational content. It offers its services under the Shutterstock, Envato, Pond5, TurboSquid, PicMonkey, PremiumBeat, Splash News, and Bigstock brand names. The company serves corporate professionals and organizations, media and broadcast companies, and small and medium-sized businesses, and individual creators through digital, live sales, services, and client management channels. Shutterstock, Inc. was founded in 2003 and is headquartered in New York, New York.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shutterstock, Inc reported revenue of $990M in FY2025 versus $773M in FY2021, a compound +6.4%/yr. Reported net income was $45.5M in FY2025, compounding −16.1%/yr from FY2021.

Growth Quality 76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$990M
Latest YoY
+5.8%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.2%
Avg. growth/yr (16Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+19.0%
Revenue +6.4%/yr
FY21 $773M
FY22 $828M
FY23 $875M
FY24 $935M
FY25 $990M
Net income −16.1%/yr
FY21 $91.9M
FY22 $76.1M
FY23 $110M
FY24 $35.9M
FY25 $45.5M
Character of growth · EPS growth decomposed (2014-2025) +11.1 % p.a.
Revenue per share +9.4 pp

of which total revenue +9.4 pp · buybacks/dilution +0.0 pp

EBIT margin −1.4 pp
Tax rate +1.7 pp
Residual (interest, one-offs) +1.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Shutterstock, Inc Fair Value". https://www.fairvalue-calculator.com/stock/SSTK

Peer Group

Internet Content & Information · 154 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 55 · Below median
Fair Value upside +124% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) -2% · Below median
Operating margin (TTM) -1% · Below median
Revenue growth -18% · Bottom 25%
Dividend yield (TTM) 10.2% · Top 25%
Debt / equity 0.20× · Higher than median

Valuation Multiples vs Internet Content & Information median · lower = cheaper

P/B 0.99× · Cheaper than median
P/S (TTM) 0.61× · Cheaper than median
P/FCF 4.7× · Pricier than median
EV/EBITDA 3.5× · Cheaper than 75% of peers
PEG 2.65× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 0
FUTURE 0 · sector 31
PAST 0 · sector 10
HEALTH 90 · sector 99
DIVIDEND 100 · sector 44

Insider activity: 35/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Internet Content & Information stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Alphabet Inc GOOGL $343.54 $145.14 -58%
Meta Platforms, Inc META $578.85 $534.91 -8%
Tencent Holdings 0700 HK$461.60 HK$448.17 -3%
Spotify Technology S.A SPOT $489.60 $210.99 -57%
Reddit, Inc RDDT $153.45 $39.59 -74%
Baidu, Inc BIDU $104.84 $66.96 -36%
Kuaishou Technology, an investment holding company, 1024 HK$41.54 HK$84.61 +104%
NAVER Corporation 035420 215,500 KRW 231,585 KRW +7%
Tencent Music Entertainment Group 1698 HK$33.72 HK$66.60 +98%
Kakao Corp 035720 40,100 KRW 24,536 KRW -39%

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Frequently asked questions

Is Shutterstock, Inc (SSTK) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of $12.61 versus a price of $5.86, about +115% (undervalued).
What is the fair value of SSTK?
Our model-based fair value for Shutterstock, Inc is $12.61 (as of Aug 13, 2026), built from audited fundamentals. The current price is $5.86.
What is the quality score of SSTK?
Shutterstock, Inc has a Quality Score of 55/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Shutterstock, Inc (SSTK)?
Shutterstock, Inc reported trailing-twelve-month revenue of about $946M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SSTK?
The net profit margin of Shutterstock, Inc is about -2.2%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Shutterstock, Inc pay a dividend?
Shutterstock, Inc currently shows a dividend yield of about 10.21% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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