Equifax Inc. is a global data, analytics, and technology company that provides information solutions for businesses, governments, and consumers, as well as human resources business process automation and outsourcing services for employers . Operating in North America, Asia Pacific, Europe, and Latin America, Equifax has significant operations in countries such as the U.S., Canada, Australia, the U.K., and Brazil . The company's business is organized into three main segments: Workforce Solutions, U.S. Information Solutions (USIS), and International .
- Workforce Solutions - Offers Verification Services and Employer Services, focusing on employment and income verification, unemployment claims management, and other HR-related services.
- Verification Services - Provides employment and income verification.
- Employer Services - Manages unemployment claims and other HR-related services.
- U.S. Information Solutions (USIS) - Delivers Online Information Solutions, Mortgage Solutions, and Financial Marketing Services, concentrating on consumer and commercial credit reporting, identity management, and fraud detection.
- Online Information Solutions - Focuses on consumer and commercial credit reporting.
- Mortgage Solutions - Provides services related to mortgage credit reporting.
- Financial Marketing Services - Offers identity management and fraud detection services.
- International - Provides similar services as USIS, tailored to regional markets in Asia Pacific, Europe, Canada, and Latin America.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Carla Chaney Executive | EVP, Chief Human Resources Officer | None | CHRO since April 2019, previously EVP of HR at Graphic Packaging Holding Company. | |
Cecilia Mao Executive | EVP, Chief Product Officer | None | Joined in May 2020, promoted to EVP in February 2024, oversees product strategy and innovation. | |
Chad M. Borton Executive | EVP, President, Workforce Solutions | None | Joined in May 2024, previously President of SoFi Bank and USAA Bank, with extensive financial services experience. | |
Harald Schneider Executive | EVP, Chief Data & Analytics Officer | None | Joined in May 2022, oversees data innovation and analytics capabilities, including Equifax Cloud integration. | |
Jamil Farshchi Executive | EVP, CISO and Acting CTO | Board Member at UKG Inc.; Strategic Engagement Advisor to the FBI | CISO since February 2018, overseeing cybersecurity and cloud transformation; acting CTO since February 2024. | |
John W. Gamble, Jr. Executive | CFO and COO | None | CFO since 2014, added COO responsibilities, overseeing financial strategy and operational efficiency. | |
Julia A. Houston Executive | EVP, Chief Strategy and Marketing Officer | None | Joined in 2013, promoted to Chief Strategy and Marketing Officer in March 2021, previously Chief Transformation Officer. | |
Lisa Nelson Executive | EVP, President, International | None | Joined in 2011, promoted to President, International in June 2021, previously led operations in Canada and Australia. | |
Mark W. Begor Executive | CEO | Board Member at NCR Atleos Corp | CEO of Equifax since April 2018, leading revenue growth, market cap expansion, and a $1.5B cloud transformation. | View Report → |
Sunil Bindal Executive | EVP, Chief Corporate Development Officer | None | Joined in October 2020, leading corporate development and M&A, including the Boa Vista acquisition. | |
Todd Horvath Executive | EVP, President, U.S. Information Solutions (USIS) | None | Joined in March 2023, leads the USIS business unit, driving revenue growth and partnerships. | |
Audrey Boone Tillman Board | Director | EVP and General Counsel at Aflac Incorporated | Director since 2021, recognized for her legal and business expertise, including compliance and risk management. | |
Barbara Larson Board | Director | None | Director since May 2024, former CFO at Workday, with expertise in financial leadership and enterprise technology. | |
G. Thomas Hough Board | Director | Director at Federated Hermes Fund Family; Director at Haverty Furniture Companies, Inc. | Director since 2016, retired Vice Chair of Ernst & Young LLP, with expertise in audit and financial oversight. | |
John A. McKinley Board | Director | Founder of Great Falls Ventures; Board Member at Applied Materials, Inc. | Director since 2008, brings expertise in technology, cybersecurity, and risk management. | |
Karen L. Fichuk Board | Director | Executive Board Member at Randstad N.V.; Global Leadership Council Member at Colorado State University | Director since February 2023, former CEO of Randstad North America, with expertise in data and HR services. | |
Mark L. Feidler Board | Independent Chairman of the Board | Founding Partner at MSouth Equity Partners; Board Member at New York Life Insurance Company | Director since 2007, Chairman since 2017, provides governance and strategic oversight. | |
Melissa D. Smith Board | Director | Chair and CEO of WEX Inc.; Trustee at MaineHealth | Director since 2020, CEO of WEX Inc., with expertise in financial services and corporate governance. | |
Robert D. Marcus Board | Director | Board Member at Newhouse Broadcasting Co.; Board Member at several non-profits | Director since 2013, former CEO of Time Warner Cable, with expertise in M&A and regulatory matters. | |
Scott A. McGregor Board | Director | Board Member at Applied Materials, Inc. | Director since 2017, former CEO of Broadcom Corporation, with expertise in technology and cybersecurity. |
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With Boa Vista now under Equifax for over a year, can you elaborate on the specific challenges you've faced in gaining market share in Brazil, particularly against strong competitors like Serasa Experian, and how you plan to overcome them in the next year?
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Given the substantial investments in cloud transformation over the past years, what are the key risks that could prevent CapEx from declining to the projected 6% to 7% of revenue, and how confident are you in the timeline to start returning cash to shareholders in 2025? ,
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With plans to continue bolt-on M&A spending approximately $500 million annually, how will you balance these investments with your commitments to increase dividends and initiate share buybacks, and could this impact your leverage targets? , ,
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Identity and Fraud revenue was down and weaker than expectations, particularly due to weakness in chargeback management volumes; what specific strategies are in place to address this decline, and when do you expect to see a turnaround in this segment?
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You anticipate mortgage market activity will improve toward 2015 to 2019 levels as mortgage rates come down; considering recent rate increases and housing market challenges, what gives you confidence in these assumptions, and how might prolonged rate elevations affect your projections? ,
Research analysts who have asked questions during EQUIFAX earnings calls.
Kelsey Zhu
Autonomous Research
6 questions for EFX
Scott Wurtzel
Wolfe Research
6 questions for EFX
Toni Kaplan
Morgan Stanley
6 questions for EFX
Andrew Nicholas
William Blair & Company
5 questions for EFX
Andrew Steinerman
JPMorgan Chase & Co.
5 questions for EFX
Craig Huber
Huber Research Partners
5 questions for EFX
Kevin McVeigh
Credit Suisse Group AG
5 questions for EFX
Kyle Peterson
Needham & Company
5 questions for EFX
Faiza Alwy
Deutsche Bank
4 questions for EFX
Jeffrey Meuler
Robert W. Baird & Co. Incorporated
4 questions for EFX
Shlomo Rosenbaum
Stifel, Nicolaus & Company, Incorporated
4 questions for EFX
Surinder Thind
Jefferies Financial Group
4 questions for EFX
Arthur Truslove
Citi
3 questions for EFX
Ashish Sabadra
RBC Capital Markets
3 questions for EFX
George Tong
Goldman Sachs
3 questions for EFX
Jason Haas
Wells Fargo
3 questions for EFX
Keen Fai Tong
Goldman Sachs Group Inc.
3 questions for EFX
Manav Patnaik
Barclays
3 questions for EFX
Matthew O'Neill
Financial Technology Partners
3 questions for EFX
Ryan Griffin
BMO Capital Markets
3 questions for EFX
Simon Clinch
Redburn Atlantic
3 questions for EFX
David Paige
RBC Capital Markets
2 questions for EFX
Jeff Meuler
Robert W. Baird & Co.
2 questions for EFX
Jimmy
Wells Fargo & Company
2 questions for EFX
Owen Lau
Oppenheimer & Co. Inc.
2 questions for EFX
Rayna Kumar
Oppenheimer & Co. Inc.
2 questions for EFX
Simon Alistair Clinch
Redburn Atlantic
2 questions for EFX
Andrew Stein
FT Partners
1 question for EFX
Brandon Barron
Needham & Company, LLC
1 question for EFX
Brendan Popson
Barclays
1 question for EFX
David Paige Papadogonas
RBC Capital Markets
1 question for EFX
Joshua Dennerlein
BofA Securities
1 question for EFX
Kwun Sum Lau
Oppenheimer
1 question for EFX
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Experian | Competes in multiple segments including verification services, employer services, credit information solutions, and commercial solutions. It offers a product suite similar to the company's credit information solutions and operates in both U.S. and international markets. |
Thomas & Company | Competes in the verification services and employer services markets, providing third-party outsourced solutions. |
Mercer | A human resources consulting firm that competes in the employer services market. |
A human resources consulting firm competing in the employer services market. | |
A human resources management services provider competing in the employer services market. | |
A human resources management services provider competing in the employer services market. | |
A human resources management services provider competing in the employer services market. | |
A payroll processor competing in the employer services market. | |
A payroll processor competing in the employer services market. | |
Ceridian | A payroll processor competing in the employer services market. |
PwC | An accounting firm competing in the employer services market. |
EY | An accounting firm competing in the employer services market. |
A global consumer credit reporting company offering a product suite similar to the company's credit information solutions. | |
LifeLock | A national provider of personal identity theft protection services in the U.S. |
Credit Karma | Provides free credit scores in the U.S., Canada, and the U.K. |
ClearScore | Provides free credit scores in the U.K. |
Credit Simple | Provides free credit scores in Australia. |
Credit Savvy | Provides free credit scores in Australia. |
Competes with the company in certain analytical tools and solutions. | |
LexisNexis | Competes in identity and fraud solutions and other specialized areas. |
Competes in the commercial solutions market. | |
Competes in the commercial solutions market. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Boa Vista Serviços | 2023 | Equifax acquired Boa Vista Serviços for an enterprise value of approximately R$3.1 billion (≈USD $640 million) using multiple cash and equity consideration options, expanding its footprint in the Brazilian market and providing access to global cloud-native data and analytical capabilities. |
Efficient Hire | 2022 | Completed in Q1 2022, Efficient Hire was acquired to strengthen the Workforce Solutions segment, expanding employer services into industries like hospitality and senior living, and is expected to add about 3.2 percentage points of revenue growth to 2022. |
Data Crédito | 2022 | Equifax acquired 100% of Data Crédito, the largest consumer credit reporting agency in the Dominican Republic, as part of its strategy to expand its international footprint and integrate the agency into its EFX Cloud to drive synergies and revenue growth. |
LawLogix | 2022 | Completed in Q3 2022, LawLogix was integrated into the Workforce Solutions segment to enhance cloud-based I-9 management and immigration case management solutions, aligning with Equifax’s strategy to expand employer services and support regulatory compliance. |
Midigator | 2022 | Completed in Q3 2022, Midigator was acquired within the U.S. Information Solutions segment to bolster Equifax’s identity and fraud capabilities by adding post-transaction fraud mitigation solutions, and is poised to contribute to double-digit growth in a market with a TAM of approximately $20 billion. |
Recent press releases and 8-K filings for EFX.
- Total U.S. consumer debt reached $18.03 trillion in September 2025, with delinquency on total debt rising to 1.562% from 1.517% in June 2025.
- Auto credit: combined auto loan and lease balances were $1.68 trillion, with lease balances up 11.5% YoY to $95.8 billion and auto loan delinquencies edging up to 1.64%.
- Bankcard balances climbed to $1.08 trillion (+4.0% YoY) and accounts to 586.2 million (+6.3% YoY), while >60-day delinquencies eased to 2.83% from 3.01% a year earlier.
- Student loan severe delinquency jumped to 16.32% in September 2025 (from 0.79% a year ago); outstanding student debt was $1.34 trillion, down 4.8% YoY.
- Equifax reported Q3 2025 revenue of $1.54 B, up 7% year-over-year on a constant-currency basis, with adjusted EPS of $2.40, beating the midpoint of guidance by $0.12; adjusted EBITDA margin rose to 32.7%.
- Workforce Solutions (EWS) revenue grew 5%, led by government and consumer-lending strength, while USIS revenue increased 11% (mortgage +26%, non-mortgage +5%); USIS adjusted EBITDA margin was 35.2%.
- Raised full-year guidance: revenue midpoint up by $40 M, adjusted EPS up by $0.12, and free cash flow outlook increased to $950 M–$975 M with cash conversion >100%; returned $360 M to shareholders via buybacks and dividends.
- Introduced VantageScore 4.0 for mortgage at $4.50 per score—50% savings versus FICO—with an expected $100–$200 M of incremental annual profit at full adoption and free VantageScores offered with FICO purchases in 2026.
- Revenue rose 7% year-over-year, beating July midpoint by $25 M; Adjusted EPS was $2.04, $0.12 above guidance; 3Q Adj. EBITDA margin reached 32.7%.
- US Information Solutions revenue grew 11% (Mortgage +26%, Non-Mortgage +5%), EWS up 5%, and International C$ revenue +7% led by Canada +11% and LatAm +9%.
- Returned $360 M to shareholders in 3Q via $300 M of share repurchases (1.2 M shares) and $60 M of dividends.
- Raised FY 2025 guidance: Revenue to $6.03 B–$6.06 B (+6.1%–6.7%), Adj EPS to $7.55–$7.65, FCF to $950–$975 M, and Cash Conversion >100%.
- Equifax delivered Q3 revenue of $1.54 billion, up 7% year-over-year, and adjusted EPS of $2.04, both exceeding guidance.
- Raised full-year 2025 outlook: revenue increased by $40 million, adjusted EPS by $0.12, and free cash flow guidance to $950 million–$975 million.
- Returned $360 million to shareholders in Q3, including repurchasing 1.2 million shares for $300 million under its $3 billion buyback program.
- Introduced VantageScore 4.0 for mortgages at $4.50 per score (through end-2027), targeting $200 million of incremental annual profit at full adoption, and launched new EFX.AI™ solutions like Ignite AI Advisor.
- Achieved a record 16% vitality index in Q3, raising full-year new product introduction guidance to 13%, driven by strong post-cloud innovation.
- Equifax reported Q3 2025 revenue of $1.545 billion, up 7% year-over-year and $25 million above the midpoint of guidance.
- Diluted EPS was $1.29, up 14% year-over-year, and Adjusted EPS was $2.04, up 10%.
- Raised full-year 2025 guidance: reported revenue to $6.030–6.060 billion, Adjusted EPS to $7.55–7.65, and free cash flow to $950–975 million.
- Returned approximately $360 million of cash to shareholders in Q3, including $300 million for share repurchases.
- Equifax posted Q3 2025 revenue of $1.545 billion, up 7% year-over-year and $25 million above the midpoint of its guidance.
- Net income attributable to Equifax was $160.2 million, up 13%, with diluted EPS of $1.29, up 14% versus Q3 2024.
- The company raised its full-year 2025 revenue guidance by $40 million and increased adjusted EPS guidance by $0.12 per share, while boosting free cash flow guidance to $950–$975 million.
- In Q3, Equifax returned $360 million to shareholders, including repurchasing 1.2 million shares for $300 million under its share buyback program.
- Equifax posted Q3 profit of $160.2 million (up from $141.3 million a year earlier) and adjusted EPS of $2.04, beating the $1.94 forecast.
- Revenue increased 7% to $1.54 billion, driven by strength in U.S. mortgage and workforce solutions.
- Workforce solutions revenue grew 5% to $649.4 million, with non-mortgage services up 7%.
- Full-year guidance raised to $7.55–$7.65 adjusted EPS and $6.03–$6.06 billion revenue.
- Equifax unveiled its inaugural Quarterly Market Pulse Index, a composite measure (1–100) of U.S. consumer financial health that integrates credit, debt, income, capacity and assets; H1 2025 index at 61.4, slightly below the four-year average of 61.85.
- The index reveals a 5%+ decline for Gen Z between June 2021 and June 2025, with student loan holders’ score down 4.8% over the period.
- Personal loan originations rose 17.6% from May 2024 to May 2025, and U.S. bankcard balances reached $1.07 trillion in July 2025, up 4.3% year-over-year.
- Equifax priced VantageScore 4.0 at $4.50 per mortgage credit score through end of 2027 — over 50% below FICO's planned $10 price in 2026
- Offers free VantageScore 4.0 through 2026 to customers purchasing FICO scores across mortgage, auto, card, and consumer finance sectors
- Enhances mortgage credit reports with free Total Wealth Network indicators and alternative data to reach an additional 33 million U.S. adults
- Expects a $100–$200 million profit opportunity as mortgage market conditions recover, supporting unit economics per Needham’s Buy rating and a $295 price target
- Equifax will offer VantageScore 4.0 mortgage credit scores at $4.50 through end of 2027, over 50% below FICO's 2026 pricing (FICO $10).
- Free VantageScore 4.0 scores provided through end of 2026 to all Equifax mortgage, automotive, card, and consumer finance customers purchasing FICO scores.
- The Work Number® Report Indicator and alternative data (rental, utilities, telecom) will be delivered alongside Equifax mortgage credit reports at no cost, with free income and employment indicators for automotive, card, and consumer finance in 2026.
- VantageScore 4.0’s use of trended and alternative data scores 33 million more U.S. adults and yields a 20% lift in originations without added risk.