TakeoverPE & activists

SSTKShutterstock, Inc.

Services-Computer Processing & Data Preparation · $152M market cap · 1,565 employees

3.4×

More likely than average to be taken private

Top 2% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

1of 15 firedHow well they predict deals →
14 other checks
  • TSR below peersNo
    —
    3+ of last 5 years
  • High CEO pay despite TSRNo
    —
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    366% of net income
    Cash flow under 80% of net income
  • Dilutive SBCNo
    6% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    28% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    37% of assets
    Over 40% of assets
  • Shareholder dissentNo
    85% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    $633K · 65th pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    9.3 per 10K words · 92nd pct
    Bottom quartile of AI mentions in 10-Ks
  • Buyout-sizedNo
    $152M market cap
    Market cap $500M–$5B
  • Recurring revenueNo
    6 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    1 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Active 13DNo
    0 filings
    Active-intent 13D in 18 months
  • Net insider sellingNo
    $0 net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Apr 30, 2025DEFM14AGetty Images Holdings, Inc.$9.5010%
Jan 7, 20258-KGetty Images Holdings, Inc.——

Key numbers

Revenue
$990MFY2021: $773MFY2022: $828MFY2023: $875MFY2024: $935MFY2025: $990M
5.8% YoY
Operating margin
7.6%FY2021: 14.0%FY2022: 11.3%FY2023: 7.8%FY2024: 7.3%FY2025: 7.6%
3.2% YoY
EBITDA
$166MFY2021: $157MFY2022: $162MFY2023: $148MFY2024: $156MFY2025: $166M
6.2% YoY
Net debt / EBITDA
-0.1×
−$18M net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$773M$828M$875M$935M$990M 5.8% FY2021: $773MFY2022: $828MFY2023: $875MFY2024: $935MFY2025: $990M
Operating income$108M$94M$68M$69M$75M 9.2% FY2021: $108MFY2022: $94MFY2023: $68MFY2024: $69MFY2025: $75M
Net income$92M$76M$110M$36M$45M 27% FY2021: $92MFY2022: $76MFY2023: $110MFY2024: $36MFY2025: $45M
Operating cash flow$216M$158M$141M$33M$167M 411% FY2021: $216MFY2022: $158MFY2023: $141MFY2024: $33MFY2025: $167M
Capex$28M$43M$45M$47M$43M 9.2% FY2021: $28MFY2022: $43MFY2023: $45MFY2024: $47MFY2025: $43M
Stock-based comp$36M$36M$49M$56M$61M 8.4% FY2021: $36MFY2022: $36MFY2023: $49MFY2024: $56MFY2025: $61M
Buybacks$26M$73M$28M$42M$0 100% FY2021: $26MFY2022: $73MFY2023: $28MFY2024: $42MFY2025: $0
Dividends$31M$35M$39M$42M$47M 9.8% FY2021: $31MFY2022: $35MFY2023: $39MFY2024: $42MFY2025: $47M

13D filers

FiledFilerFormStakeIntent
Jan 8, 2025Oringer JonathanSCHEDULE 13D/A31.5%Passive
Jun 8, 2023Oringer JonathanSC 13D/A31.7%Passive
May 6, 2022Oringer JonathanSC 13D/A32.9%Passive
Dec 10, 2021Oringer JonathanSC 13D/A34.2%Passive
Aug 16, 2021Oringer JonathanSC 13D/A35.5%Passive
May 7, 2021Oringer JonathanSC 13D/A36.6%Passive
Jan 8, 2021Oringer JonathanSC 13D/A37.6%Passive
Aug 18, 2020Oringer JonathanSC 13D/A38.8%Passive
Aug 5, 2020Shutterstock, Inc.SC 13D/A45.2%Passive

Insider trading

No open-market trades in the last 12 months.

Pay vs performance

No pay-versus-performance disclosure yet.