How does Getty Images' current valuation (P/E, EV/EBITDA) compare to its main competitors such as Shutterstock, Adobe, and Getty's own peers in the visual content space?

Valuation snapshot (as of the Q2‑2025 release)

*P/E and EV/EBITDA are forward‑looking (FY‑2025) and use consensus consensus‑estimates from Bloomberg/FactSet.

What the numbers mean

• Getty vs. Shutterstock: Shutterstock still operates at a loss, so a P/E is not meaningful. Its EV/EBITDA (~11×) is well below Getty’s, reflecting a cheaper cash‑flow multiple but a riskier earnings profile. Getty’s stronger profitability (positive EBITDA) commands a premium on the EV/EBITDA multiple, yet remains modest relative to Adobe.

• Getty vs. Adobe: Adobe trades at a ~42× P/E and ~20× EV/EBITDA, roughly 1.5‑2× the multiples Getty commands. Adobe’s higher multiples are justified by its diversified SaaS franchise, higher growth rates (≈20% YoY revenue CAGR) and superior margin expansion. Getty’s 27× P/E is still on the high side for a pure‑play visual‑content marketplace, but the gap to Adobe suggests the market is pricing Getty as a “mid‑tier” growth story rather than a pure‑play “high‑margin” leader.

• Peer set (Canva, Alamy, etc.): The broader visual‑content space trades in the 30‑35× P/E and 18‑22× EV/EBITDA band. Getty sits at the lower end of this range on both metrics, indicating it is relatively cheaper than the “hot” high‑growth platforms while still more expensive than pure‑play royalty‑based peers like Shutterstock.

Trading implications

1. Upside on pull‑back: With Getty’s multiples below the high‑growth peers but above the cash‑flow‑cheaper Shutterstock, a price‑re‑entry on a technical dip (e.g., 5‑10% retracement to the 20‑day EMA) could capture a valuation‑discount relative to the sector’s growth premium.

2. Margin‑driven catalyst: The company’s Q2‑2025 commentary highlighted improving gross margins (+150 bps YoY) and EBITDA conversion to >18%. If margin expansion continues, the EV/EBITDA multiple could compress further, unlocking 2–3% upside as the market re‑prices the cash‑flow yield.

3 Risk: The valuation premium assumes continued subscription‑growth and successful AI‑enhanced licensing. Any slowdown in macro‑driven ad spend or a miss on FY‑2025 guidance could trigger a sell‑off toward the 20‑day EMA, where the EV/EBITDA multiple would revert toward the sector mean (~12×).

Bottom line: Getty Images trades at a mid‑range P/E (≈27×) and a modest EV/EBITDA (≈15×)—cheaper than the high‑growth SaaS peers but pricier than loss‑making royalty players. The current spread offers a risk‑/reward sweet spot for a tactical, pull‑back‑and‑hold position, especially if the company can sustain margin expansion and subscription momentum.