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    Equifax Inc (EFX)

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    Business Description

    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 .

    1. 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.
    2. 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.
    3. International - Provides similar services as USIS, tailored to regional markets in Asia Pacific, Europe, Canada, and Latin America.

    Key Metrics

    View all financials →

    Executive Team

    NamePositionStart DateShort Bio
    Mark W. BegorChief Executive OfficerApril 2018Mark W. Begor has been the CEO of Equifax since April 2018. Previously, he was a Managing Director at Warburg Pincus and spent 35 years at GE in various roles .
    Sunil BindalExecutive Vice President, Chief Corporate Development OfficerOctober 2020Sunil Bindal joined Equifax in October 2020. He was previously SVP, Global Head of M&A at Total System Services and VP of Corporate Development at Broadridge Financial Solutions .
    Carla ChaneyExecutive Vice President, Chief Human Resources OfficerApril 2019Carla Chaney has been with Equifax since April 2019. She was previously EVP, Human Resources and Communications at Graphic Packaging Holding Company .
    Jamil FarshchiExecutive Vice President, Chief Information Security Officer and Acting Chief Technology OfficerFebruary 2018 (CISO), February 2024 (CTO)Jamil Farshchi has been CISO since February 2018 and Acting CTO since February 2024. He was previously CISO at The Home Depot .
    John W. Gamble, Jr.Executive Vice President, Chief Financial Officer and Chief Operations OfficerFebruary 2021John W. Gamble, Jr. has been CFO and COO since February 2021. He was previously Corporate VP and CFO from May 2014 to February 2021 .
    Todd HorvathExecutive Vice President, President, U.S. Information SolutionsMarch 2023Todd Horvath joined Equifax in March 2023. He previously held various roles at Fiserv and ADP .
    Julia A. HoustonExecutive Vice President, Chief Strategy and Marketing OfficerMarch 2021Julia A. Houston has been with Equifax since March 2021. She was previously Chief Transformation Officer and held roles at Convergys Corporation and Mirant Corporation .
    John J. Kelley IIIExecutive Vice President, Chief Legal Officer and Corporate SecretaryJanuary 2013John J. Kelley III has been with Equifax since January 2013. He was previously a senior partner at King & Spalding LLP .
    Cecilia MaoExecutive Vice President, Chief Product OfficerFebruary 2024Cecilia Mao has been Chief Product Officer since February 2024. She joined Equifax in May 2020 and was previously VP of Product at Oracle Data Cloud .
    Lisa NelsonExecutive Vice President, President, InternationalJune 2021Lisa Nelson has been with Equifax since June 2021. She was previously Group Managing Director for Equifax Australia and New Zealand and President of Equifax Canada .
    Chad M. BortonExecutive Vice President, President, Workforce SolutionsMay 6, 2024Chad M. Borton will start as EVP, President, Workforce Solutions on May 6, 2024. He brings extensive experience in financial services and executive leadership .
    Rodolfo O. PloderExecutive Vice President, President, Workforce Solutions (until September 30, 2024)November 2015Rodolfo O. Ploder has been with Equifax since November 2015. He previously served as President of U.S. Information Solutions and President, International .
    Harald SchneiderExecutive Vice President, Chief Data & Analytics OfficerFebruary 2024Harald Schneider has been Chief Data & Analytics Officer since February 2024. He was previously Global Head of Data Products at Visa Inc. .

    Questions to Ask Management

    1. 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?

    2. 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? ,

    3. 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? , ,

    4. 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?

    5. 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? ,

    Share Repurchase Program

    Program DetailsProgram 1
    Approval DateN/A
    End Date/DurationN/A
    Total additional amountN/A
    Remaining authorization amount$520.2 million
    DetailsNo shares were repurchased under the program during the periods covered in the documents.

    Debt Maturity Schedule

    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2024$750.0 Notes2.60 13.6% = (750.0 / 5,500.5) * 100
    2025$400.0 Notes2.60 7.3% = (400.0 / 5,500.5) * 100
    2026$275.0 Notes3.25 5.0% = (275.0 / 5,500.5) * 100
    2027$750.0 Notes5.10 13.6% = (750.0 / 5,500.5) * 100
    2028$700.0 Notes5.10 12.7% = (700.0 / 5,500.5) * 100
    2028$125.0 Debentures6.90 2.3% = (125.0 / 5,500.5) * 100
    2029$650.0 Notes4.80 11.8% = (650.0 / 5,500.5) * 100
    2030$600.0 Notes3.10 10.9% = (600.0 / 5,500.5) * 100
    2031$1,000.0 Notes2.35 18.2% = (1,000.0 / 5,500.5) * 100
    2037$250.0 Notes7.00 4.5% = (250.0 / 5,500.5) * 100

    Competitors

    Competitors mentioned in the company's latest 10K filing.

    • Experian - Competitor in verification services, credit information solutions, and commercial solutions products .
    • Thomas & Company - Competitor in verification services and employer services .
    • TransUnion - Competitor in credit information solutions .
    • LifeLock - Competitor in personal identity theft protection service .
    • Credit Karma - Competitor offering free credit scores in the U.S., Canada, and the U.K. .
    • ClearScore - Competitor offering free credit scores in the U.K. .
    • Credit Simple - Competitor offering free credit scores in Australia .
    • Credit Savvy - Competitor offering free credit scores in Australia .
    • Fair Isaac Corporation - Competitor in analytical tools and solutions .
    • LexisNexis - Competitor in identity and fraud solutions .
    • Dun & Bradstreet - Competitor in commercial solutions products .
    • Moody's - Competitor in commercial solutions products .
    • ADP - Competitor in payroll processing .
    • Paychex - Competitor in payroll processing .
    • Ceridian - Competitor in payroll processing .
    • Mercer - Competitor in human resources consulting .
    • Towers Watson - Competitor in human resources consulting .
    • Workday - Competitor in human resources management services .
    • Oracle - Competitor in human resources management services .
    • SAP - Competitor in human resources management services .
    • PwC - Competitor in accounting services .
    • EY - Competitor in accounting services .

    Auditor

    NameStart DateEnd DateReason for Change
    Ernst & Young LLP2002 PresentCurrent auditor