Equifax Inc. EFX

IndustrialsProfessional & Commercial ServicesUnited States of America

Last close 192.51 USD on Nov 2, 2026, −10.5% year to date

Quant rating

Quant rating C Rank 253 of 486 in Industrials

Growth C 234 of 486
Valuation C 200 of 486
Quality B 176 of 486
Revisions D 391 of 486
Momentum B 160 of 486

Wall Street consensus Buy (2.00)Average target 199.47 USD +3.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 22.5B
Enterprise value: 27.7B
52-week range: 137.04 – 228.65
3-year range: 137.04 – 307.13
Dividend yield: 1.21%
Beta (5 years): 1.27
Shares outstanding: 117M
Next earnings: Feb 2, 2027

About the company

Equifax Inc. is a global data, analytics, and technology company. The Company is engaged in helping financial institutions, companies, employers, and government agencies make critical decisions. The Company’s Workforce Solutions segment provides services enabling customers to verify income, employment, educational history, criminal justice data, healthcare professional licensure and sanctions of people in the United States. The Company’s U.S. Information Solutions (USIS) segment provides consumer and commercial information solutions to businesses in the United States, including online information, decisioning technology solutions, identity management services, analytical services, e-commerce fraud and charge back protection services, portfolio management services, mortgage information and marketing services. The Company’s International segment provides products and services similar to those available in the USIS segment but with variations by geographic region.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	6,074	5,681	5,265	5,122	4,924	–
Revenue growth	6.9%	7.9%	2.8%	4.0%	19.3%	8.0%
EPS (basic, normalized)	7.65	7.29	6.71	7.56	7.64	–
EPS growth	4.9%	8.6%	−11.2%	−1.0%	–	–
Gross margin	56.4%	55.7%	55.7%	57.5%	59.8%	57.0%
Net margin	10.9%	10.6%	10.4%	13.6%	15.1%	12.1%
ROE	14.0%	12.9%	12.8%	18.5%	22.0%	16.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	193
Current ratio	1.09x
Long-term debt (mil)	5,049
Net debt (mil)	5,155
Total equity (mil)	4,473
Net debt / equity	1.15x
Net debt / EBITDA	2.66x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	6,074	+6.9%	4.6x	1,935	+4.8%	14.3x	7.65	+4.9%	25.2x
2026	6,669	+9.8%	4.2x	2,125	+9.8%	13.0x	8.50	+11.1%	22.7x
2027	7,090	+6.3%	3.9x	2,315	+9.0%	12.0x	9.64	+13.5%	20.0x
2028	7,705	+8.7%	3.6x	2,587	+11.7%	10.7x	11.47	+18.9%	16.8x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	6,669	−1.2%	−1.3%	−1.3%	8.50	−0.5%	−0.9%	−1.3%
2027	7,090	−3.6%	−4.1%	−4.2%	9.64	−4.6%	−5.4%	−6.1%
2028	7,705	−4.5%	−4.9%	−5.2%	11.47	−6.6%	−6.8%	−8.2%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,389	1,430	1,442	1,419	1,442	1,537	1,545	1,551	1,649	1,700
Sales mean (mil)	1,400	1,423	1,443	1,440	1,417	1,512	1,521	1,527	1,616	1,696
Surprise	−0.8%	+0.5%	−0.1%	−1.4%	+1.8%	+1.7%	+1.6%	+1.6%	+2.0%	+0.3%
EPS reported	1.50	1.82	1.85	2.12	1.53	2.00	2.04	2.09	1.86	2.25
EPS mean	1.44	1.73	1.83	2.10	1.40	1.92	1.93	2.05	1.70	2.20
Surprise	+4.2%	+5.4%	+0.8%	+1.0%	+9.0%	+4.2%	+5.5%	+1.8%	+9.4%	+2.2%

Peer comparison Professional & Commercial Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
EFX Equifax Inc.	22.5B	2.66x	10.9%	5.04x	22.7x	20.0x	13.0x	12.0x
SPGI S&P Global Inc.	137.8B	2.06x	29.2%	6.99x	26.6x	23.6x	19.2x	18.1x
ADP Automatic Data Processing Inc	117.9B	0.26x	20.1%	23.21x	24.2x	22.1x	17.2x	15.9x
WM Waste Management Inc	94.5B	3.05x	10.7%	9.58x	29.3x	26.6x	14.4x	13.5x
CTAS Cintas Corporation	89.3B	0.70x	17.7%	17.25x	40.6x	36.4x	26.8x	24.5x
MCO Moody's Corporation	87.2B	1.38x	31.9%	26.70x	30.2x	27.2x	21.1x	19.5x
Mean		1.69x	20.1%	14.80x	28.9x	26.0x	18.6x	17.2x
Median		1.72x	18.9%	13.42x	28.0x	25.1x	18.2x	17.0x

Technical analysis

1M+37.5%
3M+11.9%
1Y−7.8%
3Y+10.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Equifax Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	6,074	5,681	5,265	5,122	4,924	4,128
Cost of revenue	2,646	2,519	2,335	2,177	1,981	1,737
Gross profit	3,429	3,162	2,930	2,945	2,943	2,390
Selling, general & administrative expenses	1,564	1,402	1,348	1,305	1,316	1,291
Research & development	–	–	–	–	–	–
Depreciation/amortization	720	670	611	560	480	391
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	49.9	48.0	37.6	24.0	8.6	31.9
Other operating expenses	0	0	0	0	0	0
Operating income	1,095	1,042	934	1,056	1,138	677
Net interest income (expense)	−212	−229	−228	−183	−146	−142
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	12.0	−2.5	12.5	56.7	−43.2	150
Net income before taxes	895	810	718	930	949	685
Provision for taxes	231	203	166	230	201	159
Minority interest	−4.0	−3.2	−6.4	−4.0	−4.3	−6.1
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	660	604	545	696	744	520
Extraordinary items	–	–	–	–	–	–
Net income	660	604	545	696	744	520
EBIT, normalized	1,145	1,090	971	1,080	1,147	708
EBITDA, normalized	1,872	1,771	1,591	1,649	1,636	1,108
Basic EPS, normalized	7.65	7.29	6.71	7.56	7.64	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Equifax Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	181	170	217	285	225	1,685
Receivables	1,013	958	908	858	728	631
Total inventory	–	–	–	–	–	–
Prepaid expenses	144	135	142	134	108	104
Other current assets	74.5	98.2	88.8	93.3	60.2	59.0
Total current assets	1,412	1,361	1,356	1,370	1,121	2,478
Property, plant & equipment	1,932	1,892	1,834	1,587	1,316	1,139
Goodwill	6,746	6,548	6,830	6,384	6,258	4,496
Intangibles	1,426	1,616	1,954	1,913	1,993	1,093
Long-term investments	–	–	88.9	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	348	343	217	293	353	406
Total assets	11,864	11,759	12,280	11,548	11,041	9,612
Liabilities
Accounts payable	206	138	198	251	212	159
Payable/accrued	–	–	–	–	–	–
Accrued expenses	562	467	414	368	495	502
Short-term debt	762	0	0	0	0	0
Current portion of long-term debt	276	688	963	967	825	1,101
Other current liabilities	529	519	444	430	760	721
Total current liabilities	2,335	1,812	2,019	2,015	2,291	2,483
Long-term debt	4,055	4,323	4,748	4,820	4,470	3,277
Minority interest	134	123	153	16.8	16.8	41.9
Other liabilities	735	706	826	739	678	641
Total liabilities	7,260	6,962	7,746	7,591	7,456	6,443
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	237	237	237	237	237	237
Additional paid-in capital	2,023	1,915	1,761	1,594	1,537	1,471
Retained earnings (accumulated deficit)	6,445	6,019	5,609	5,256	4,752	4,185
Treasury stock	−3,584	−2,651	−2,641	−2,657	−2,645	−2,553
Other equity	−517	−723	−431	−474	−295	−171
Total equity	4,604	4,797	4,534	3,956	3,584	3,168
Total liabilities & shareholders' equity	11,864	11,759	12,280	11,548	11,041	9,612

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Equifax Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	664	607	552	700	748	526
Depreciation, depletion & amortization	727	681	620	569	490	399
Deferred taxes	30.2	−66.9	−70.2	88.1	9.3	66.5
Non-cash items	77.2	81.6	58.0	25.8	114	−94.8
Changes in working capital	117	21.9	−42.5	−626	−26.3	49.0
Cash from operations	1,616	1,324	1,117	757	1,335	946
Investing activities
Capital expenditures	−481	−512	−601	−624	−469	−421
Other investing cash flows	−72.9	0	−277	−335	−2,929	−71.4
Cash from investing	−554	−512	−878	−960	−3,398	−493
Financing activities
Financing cash flow items	−22.0	−26.8	−69.1	−43.6	−89.5	−39.0
Cash dividends paid	−233	−193	−192	−191	−190	−190
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−805	−626	−45.3	508	897	1,039
Cash from financing	−1,060	−846	−306	274	618	811
Foreign exchange effects	9.2	−13.5	−0.8	−10.8	−14.2	19.0
Net change in cash	10.9	−46.9	−68.4	60.5	−1,460	1,283
Free cash flow	1,134	813	516	133	866	525

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.