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Equifax

EFX NYSE Research & Consulting Services Financials FY2016–FY2025

Equifax's revenue rose 6.9% to $6.1 billion in fiscal 2025. Its operating margin was 18.0%, down from 18.3% a year earlier. Free cash flow was $1.1 billion, up 39.5%. It paid out $1.2 billion in dividends and buybacks, 102% of free cash flow. The diluted share count fell 0.6%.

Last close · Oct 23, 2026

$182.36

2.6%
Value it Compare
Revenue Total sales reported in the income statement.
$6.1B
6.9% vs prior year
Operating margin Operating income as a share of revenue.
18.0%
0.3 pts
Net income Profit after all expenses, interest and tax.
$660M
9.3%
Free cash flow Cash from operations minus capital spending.
$1.1B
39.5%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
8.5%
0.5 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$21.5B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
29.5x
On $6.18 EPS (TTM)

What Equifax does

No business description yet.

Legal name
EQUIFAX INC
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000033185-26-000010
0000033185

Revenue and margins

Equifax had $6.1B of revenue in fiscal 2025, up 6.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 3.1% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $1.1B in fiscal 2025, 18.7% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Equifax returned $1.2B to shareholders in fiscal 2025, 102% of free cash flow. The diluted share count fell 0.6%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Equifax yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$4.9B and divides by 124.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 29.5x · peers 18.9x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Equifax can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $225M$285M$217M$170M$181M
Debt incl. finance leases $5.3B$5.8B$5.7B$5.0B$5.1B
Net debt / EBITDA 3.1x3.4x3.6x2.8x2.7x
Debt / equity 1.5x1.5x1.3x1.1x1.1x
Interest coverage 7.8x5.8x3.9x4.6x5.2x
Current ratio 0.5x0.7x0.7x0.8x0.6x
Quick ratio 0.5x0.7x0.7x0.8x0.6x
Total assets $11.0B$11.5B$12.3B$11.8B$11.9B
Total liabilities $7.4B$7.6B$7.6B$6.8B$7.1B
Shareholders' equity $3.6B$4.0B$4.5B$4.8B$4.6B
Net debt (− = net cash) $5.1B$5.5B$5.5B$4.9B$4.9B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.5M

1 insider

Sold, 12 months

$25.9M

4 insiders

Of sales under plans

100%

$25.9M

DateInsiderTradeSharesPriceValueFiling
Sep 3, 2026 John W Gamble JrEVP, CFO & COO Sold plan 4,500 $187.96 $0.8M Form 4
Jul 24, 2026 Mark W BegorCEO, Director Sold plan 37,791 $172.16 $6.5M Form 4
May 7, 2026 Chad M BortonEVP, Pres Workforce Solutions Sold plan 2,455 $173.89 $0.4M Form 4
May 1, 2026 John W Gamble JrEVP, CFO & COO Sold plan 3,500 $176.54 $0.6M Form 4
Apr 24, 2026 Mark W BegorCEO, Director Sold plan 37,791 $172.40 $6.5M Form 4
Feb 23, 2026 John W Gamble JrEVP, CFO & COO Sold plan 4,500 $195.72 $0.9M Form 4
Feb 18, 2026 Cecilia MaoEVP, Chief Product Officer Bought plan 2,400 $193.72 $0.5M Form 4
Feb 12, 2026 Chad M BortonEVP, Pres Workforce Solutions Sold plan 2,535 $191.50 $0.5M Form 4
Feb 11, 2026 Jamil FarshchiEVP, Chief Technology Officer Sold plan 1,167 $199.87 $0.2M Form 4
Feb 10, 2026 Jamil FarshchiEVP, Chief Technology Officer Sold plan 6,213 $195.81 $1.2M Form 4
Feb 10, 2026 Mark W BegorCEO, Director Sold plan 37,791 $201.89 $7.6M Form 4
Nov 20, 2025 John W Gamble JrEVP, CFO & COO Sold plan 2,500 $208.37 $0.5M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✕ ✓ ✕
Share count didn't rise ✕ ✕ ✓
Gross margin rose — — —
Revenue rose relative to assets ✕ ✓ ✓
F-score 4 / 87 / 86 / 8
Accruals ratio −4.8%−6.0%−8.1%
Altman Z'' 2.282.752.56

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Equifax EFX $21.5B 6.9% 18.0% 18.7% 8.5% 29.5x 6
Thomson Reuters TRI $55.4B 3.0% 28.5% 27.0% 11.8% — 6 Compare →
TransUnion TRU $15.8B 9.4% 18.7% 14.5% 7.1% 22.6x 8 Compare →
FTI Consulting FCN $4.6B 2.4% 10.3% 2.5% 16.6% 18.9x 4 Compare →
Booz Allen Hamilton BAH $9.4B −6.4% 9.2% 8.5% 24.2% 12.2x 5 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $3.1B $3.4B $3.4B $3.5B $4.1B $4.9B $5.1B $5.3B $5.7B $6.1B
Gross profit $2.0B $2.2B — — — — — — — —
Operating income $825M $832M $448M −$335M $677M $1.1B $1.1B $934M $1.0B $1.1B
Interest expense $92.1M $92.8M $104M $112M $142M $146M $183M $241M $229M $212M
Pretax income $728M $747M $370M −$414M $685M $949M $930M $718M $811M $895M
Income tax $233M $149M $53.4M −$35.7M $159M $201M $230M $166M $203M $231M
Net income $489M $587M $311M −$384M $520M $744M $696M $545M $604M $660M
Diluted EPS $4.04 $4.83 $2.56 −$3.15 $4.24 $6.02 $5.65 $4.40 $4.84 $5.32
Diluted shares 0.12B 0.12B 0.12B 0.12B 0.12B 0.12B 0.12B 0.12B 0.12B 0.12B
Cash flow
Cash from operations $823M $816M $672M $314M $946M $1.3B $757M $1.1B $1.3B $1.6B
Capital expenditure $174M $218M $322M $400M $421M $469M $625M $601M $512M $481M
Free cash flow $650M $598M $350M −$85.8M $525M $866M $133M $516M $813M $1.1B
Depreciation and amortization $269M $291M $316M $337M $399M $490M $569M $620M $681M $727M
Stock-based compensation $37.1M $38.3M $42.5M $49.7M $54.7M $54.9M $62.6M $71.8M $81.6M $78.4M
Acquisitions $1.8B $140M $138M $273M $61.4M $2.9B $434M $284M $0.0M $74.1M
Share buybacks $0.0M $77.1M $0.0M $0.0M $0.0M $69.9M $0.0M $0.0M $0.0M $928M
Dividends paid $158M $187M $188M $189M $190M $190M $191M $192M $193M $233M
Dividends and buybacks $158M $265M $188M $189M $190M $260M $191M $192M $193M $1.2B
Balance sheet
Cash and short-term investments $129M $336M $224M $401M $1.7B $225M $285M $217M $170M $181M
Total debt $2.7B $2.7B $2.7B $3.4B $4.4B $5.3B $5.8B $5.7B $5.0B $5.1B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $673M $998M $902M $1.2B $2.5B $1.1B $1.4B $1.4B $1.4B $1.4B
Current liabilities $1.3B $1.7B $827M $1.4B $2.5B $2.3B $2.0B $2.0B $1.8B $2.3B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $467M $567M $765M $948M $1.1B $1.3B $1.6B $1.8B $1.9B $1.9B
Total assets $6.7B $7.2B $7.2B $7.9B $9.6B $11.0B $11.5B $12.3B $11.8B $11.9B
Total liabilities $3.9B $4.0B $4.0B $5.3B $6.4B $7.4B $7.6B $7.6B $6.8B $7.1B
Shareholders' equity $2.7B $3.2B $3.1B $2.6B $3.2B $3.6B $4.0B $4.5B $4.8B $4.6B
Margins
Gross margin 64.6% 64.0% — — — — — — — —
Operating margin 26.2% 24.7% 13.1% −9.6% 16.4% 23.1% 20.6% 17.7% 18.3% 18.0%
EBITDA margin 34.8% 33.4% 22.4% 0.1% 26.1% 33.1% 31.7% 29.5% 30.3% 30.0%
Net margin 15.5% 17.5% 9.1% −11.0% 12.6% 15.1% 13.6% 10.4% 10.6% 10.9%
FCF margin 20.7% 17.8% 10.3% −2.5% 12.7% 17.6% 2.6% 9.8% 14.3% 18.7%
Returns
Return on capital 12.9% 12.2% 6.8% −4.7% 9.0% 12.3% 8.7% 7.3% 7.9% 8.5%
Return on capital employed 17.7% 15.2% 7.5% −5.2% 9.9% 14.3% 11.6% 9.4% 10.3% 11.3%
Return on equity 19.7% 20.1% 9.9% −13.5% 18.1% 22.0% 18.5% 12.8% 13.0% 14.1%
Return on assets 8.8% 8.5% 4.3% −5.1% 5.9% 7.2% 6.2% 4.6% 5.0% 5.6%
Growth
Revenue growth — 6.9% 1.5% 2.8% 17.7% 19.3% 4.0% 2.8% 7.9% 6.9%
Net income growth 13.9% 20.2% −47.1% −223.7% — 43.1% −6.5% −21.7% 10.8% 9.3%
EPS growth 13.8% 19.6% −47.0% −223.1% — 42.0% −6.2% −22.1% 10.0% 9.9%
FCF growth 4.3% −8.0% −41.4% −124.5% — 65.0% −84.7% 288.8% 57.7% 39.5%
Share count change 0.2% 0.3% −0.1% 0.5% 0.7% 0.7% −0.2% 0.5% 0.8% −0.6%
Financial health
Net debt / EBITDA 2.3x 2.1x 3.2x 1,579.9x 2.5x 3.1x 3.4x 3.6x 2.8x 2.7x
Debt / equity 1.0x 0.9x 0.9x 1.3x 1.4x 1.5x 1.5x 1.3x 1.1x 1.1x
Interest coverage 9.0x 9.0x 4.3x −3.0x 4.8x 7.8x 5.8x 3.9x 4.6x 5.2x
Current ratio 0.5x 0.6x 1.1x 0.9x 1.0x 0.5x 0.7x 0.7x 0.8x 0.6x
Quick ratio 0.5x 0.6x 1.1x 0.9x 1.0x 0.5x 0.7x 0.7x 0.8x 0.6x
Capital allocation
Capex / revenue 5.5% 6.5% 9.4% 11.4% 10.2% 9.5% 12.2% 11.4% 9.0% 7.9%
Stock comp / revenue 1.2% 1.1% 1.3% 1.4% 1.3% 1.1% 1.2% 1.4% 1.4% 1.3%
Payouts / FCF 24.3% 44.3% 53.6% — 36.1% 30.0% 144.1% 37.2% 23.8% 102.3%
Quality scores
Piotroski F-score — 5.0 6.0 3.0 6.0 4.0 6.0 4.0 7.0 6.0
Altman Z'' 3.0 3.1 3.5 1.7 2.4 1.9 2.3 2.3 2.8 2.6
Accruals ratio −6.0% −3.3% −5.0% −9.3% −4.9% −5.7% −0.5% −4.8% −6.0% −8.1%

Source: SEC EDGAR XBRL filings (CIK 0000033185). Data updated October 20, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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