$Shutterstock (SSTK.US)$Excluded in the inventory in October...

Listed in 2012, mainly engaged in image sales business in the global market, current price is 45.89.

Revenue has been growing continuously for the past 5 years, with an average growth rate of 8.3%. Operating profit has seen a significant growth mainly in 2020 due to the double decline in cost expenses, with a 5-year average growth rate of 33.6%. The growth rate dropped to 3.9% in 2022. Net income shrunk by 17.2% in 2022 due to other income impacts. Interest expense in 2022 can be ignored. Gross margin has increased from 57.1% to 62% in the past 5 years, while return on equity has fluctuated from 18.2% to a decrease to 16.6%.

Revenue growth in the first three quarters of 2023 was 7.8%, operating profit shrank by 22.9%, and net income saw a significant increase of 61% due to restructuring and merger gains.

Currently, the PE ratio is 22, the TTM PE ratio is 14. Due to the recent net income mainly from merger and acquisition gains, rather than a significant improvement in core profitability, I am adopting a wait-and-see approach for now.