TransUnion (TRU) Company Report

TransUnion aims for high single-digit organic revenue growth and double-digit EPS growth, with an Investor Day scheduled for March 10th next year (2026) to officially roll out growth guidance.
The company is experiencing stable market conditions with strong volume improvements across all consumer lending categories, including subprime, with no deterioration observed in Q3, October, and November.
Significant investments in the OneTrue platform are largely complete, driving higher revenue growth rates and expected structural cost savings by the end of 2026 as old infrastructure is demised.
In the mortgage market, new pricing is expected to preserve and grow 25% profitability, with the adoption of the Vantage score anticipated to create new, high-profit revenue opportunities and drive EPS.
TransUnion plans to be more aggressive with capital allocation, including share buybacks and debt retirement, and expects over 90% free cash flow conversion next year.

4 days ago

Transcript

TransUnion Launches New Credit Washing Solution

TRU

Product Launch

New Projects/Investments

TransUnion (NYSE: TRU) has launched an industry-first Credit Washing Solution to combat the growing practice of removing legitimate, accurate, and non-obsolete credit data from credit profiles, which artificially inflates credit scores and alters risk assessment.
This issue is substantial, with an estimated $10 billion in debt erased from credit reports in 2025 due to atypical suppressions affecting approximately 5% of U.S. consumers.
The company has observed a nearly 700% increase in consumer-initiated charge-off suppressions over the past two years and a 200% increase in lender-initiated suppressions over the last four years.
The solution leverages advanced analytics and machine learning to help lenders identify hidden risks, as consumers with atypical charge-off suppressions are 3.5 times more likely to charge off a new account within a year.

Nov 13, 2025, 1:00 PM

Press Release

TransUnion Discusses Growth Outlook, Margin Expansion, and FICO/VantageScore Dynamics

TRU

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

TransUnion anticipates high single-digit to low double-digit growth in 2024 and 2025, a rebound from 3% growth in 2022 and 2023, driven by relative stability in U.S. financial services and strong performance in emerging verticals and non-credit products like Trusted Call Solutions, which is projected to generate $150 million in revenue in 2025.
The company's transformation program has resulted in a 90 basis point margin increase in 2024, moving from 35.1% to 36%, and is expected to yield an additional $35 million in cost savings by the end of 2025.
Regarding FICO pricing changes, TransUnion plans to pass on a $10 royalty and charge a processing fee to customers, aiming to protect profit dollars, though this may result in a lower margin percentage in 2026. They are also actively promoting VantageScore, which can score 33 million more consumers than FICO.
The consumer market is described as "relatively healthy," with delinquencies returning to "normal levels" comparable to pre-pandemic figures, despite a bifurcation where 40% of consumers are super prime and 14% are subprime.

Nov 11, 2025, 7:10 PM

Transcript

TransUnion Discusses Growth Outlook, FICO Pricing, and Margin Expansion

TRU

Guidance Update

New Projects/Investments

M&A

TransUnion projects high single-digit to low double-digit growth for 2024 and 2025, a rebound from 3% growth in 2022 and 2023 which was attributed to macroeconomic challenges.
The company expects solid margin expansion in 2026, driven by $35 million in cost savings from its transformation program and a reduction in capital expenditures from 8% to 6% of revenue.
TransUnion is adapting to FICO pricing changes by passing on the $10 FICO royalty and a processing fee, aiming to protect margin dollars despite potential impacts on margin percentage with increased VantageScore adoption.
Growth is also fueled by non-credit offerings, including Trusted Call Solutions which is forecast to reach $150 million in revenue in 2025, up from $50 million three years ago.
The company is in the process of acquiring the largest credit bureau in Mexico, where it currently holds a minority stake, with the transaction anticipated to close in late Q4 or Q1.

Nov 11, 2025, 7:10 PM

Transcript

TransUnion Introduces New Mortgage Credit Offerings

TRU

Product Launch

New Projects/Investments

TransUnion (TRU) is launching new mortgage credit score pricing and product enhancements, including VantageScore 4.0, to increase competition in mortgage credit scoring and lower borrowing costs.
VantageScore 4.0, built on trended and alternative data, aims to enable 33 million credit-invisible consumers to be scored and expand access to homeownership.
Starting in 2026, TransUnion will offer VantageScore 4.0 for mortgage at $4, representing a significant discount to FICO's recently announced $10 price.
TransUnion will also provide free VantageScore 4.0 for mortgage to customers who purchase a FICO score from TransUnion through the end of 2026.
The company will offer multi-year pricing for credit reports and VantageScore 4.0, and a free VantageScore 4.0 credit score simulator for industry participants and prospective homebuyers.

Oct 17, 2025, 10:55 AM

Press Release

TransUnion Analysis Highlights Elevated Auto Fraud Losses and Emerging Credit Washing Threat

TRU

TransUnion's analysis reveals that fraud-related charge-off losses in auto lending are significantly higher than other consumer credit products, with auto loan fraud losses for loans originated between March and September 2023 being 21 times greater than credit cards and six times greater than unsecured personal loans.
Auto fraud losses are heavily driven by prime and better risk tiers, where consumers flagged as synthetic exhibited a bad rate 12.5 times higher than other consumers, with average balance losses exceeding $22K per consumer.
The average auto fraud loss was just under $20K, significantly higher than averages for unsecured personal loans and credit cards.
Credit washing, an emerging threat, involves consumers fraudulently disputing legitimate data to temporarily improve credit profiles, creating a false impression of borrower credit quality.
Super prime credit washers show charge-off rates comparable to non-credit washers in the near prime tier, with a 3.4% charge-off rate for super prime credit washers compared to 0.1% for other super prime consumers.

Oct 16, 2025, 12:00 PM

Press Release

TransUnion Analysis Finds Link Between Rising PTI Ratios and Mortgage Delinquency

TRU

Demand Weakening

New Projects/Investments

Serious consumer-level mortgage delinquency rates (60+ DPD) have gradually risen from 0.89% in Q2 2023 to 1.14% in Q2 2024 and 1.27% in Q2 2025.
A new TransUnion analysis highlights a direct correlation between rising payment-to-income (PTI) ratios for non-mortgage products (such as credit cards, HELOCs, and student loans) and an increased likelihood of mortgage delinquency in the subsequent year.
For instance, as the Credit Card Consumer Payment-to-Income Ratio increased from 2.18% in March 2023 to 2.33% in December 2023, the 60+ DPD Mortgage Delinquency one year later also rose from 0.42% in March 2024 to 0.63% in December 2024.
TransUnion recommends that mortgage lenders proactively collect and analyze cross-wallet credit data on a quarterly basis to identify emerging risks and leverage tools like TruVision for enhanced risk management.

Aug 28, 2025, 12:00 PM

Press Release

TransUnion releases Q2 2025 Credit Industry Insights Report

TRU

Demand Weakening

Total Canadian consumer credit balances reached $2.52 trillion in Q2 2025, an increase of 4.4% year-over-year and 15% since Q1 2022, though the inflation-adjusted increase was only 3%.
Mortgage originations surged 51% year-over-year in Q1 2025, totaling $82.6 billion in new volume, with the average new mortgage loan amount rising 6.9% year-over-year to $368,432.
The overall consumer-level serious delinquency rate (90+ days past due) slightly increased to 1.77% in Q2 2025, up 4 basis points from the prior year, with Alberta recording the highest level at 2.29%.
Canada's Consumer Credit Industry Index (CII) declined by 1.4 points from the previous quarter to 98.8 in Q2 2025, marking a 6-point year-over-year drop, reflecting softening consumer spending and subdued credit demand.

Aug 13, 2025, 10:00 AM

Press Release

TransUnion Analysis Identifies Significant Auto Loan Refinancing Opportunity

TRU

New Projects/Investments

TransUnion's new research reveals that approximately 18 million U.S. auto loan borrowers are "in-the-money" for refinancing, indicating their current loan rates exceed the prevailing average APR.
Despite a reduction in average monthly savings from $107 in 2021 to $90 in 2024, these savings remain significant, with over half of consumers motivated to refinance if they could save between $50 and $149 per month.
The pool of eligible borrowers is sensitive to interest rate changes; a 25-basis point rate cut by the Federal Reserve could increase the number of "in-the-money" consumers to nearly 20 million, and a 100-basis point reduction could expand the pool by an additional 6.5 million borrowers.
More than half of the 18 million consumers eligible for refinancing have an estimated APR of greater than 10% on their existing auto loan.
Refinanced auto loans consistently outperform original purchase loans across all credit tiers, with Q4 2023 vintage refinance loans being 170 basis points less likely to be 60 or more days past due at the 12-month mark compared to purchase loans.

Jul 31, 2025, 12:00 PM

Press Release

TransUnion Reports Canadian Consumers Facing Affordability Pressures and Mortgage Payment Shocks

TRU

Demand Weakening

In Q2 2025, 51% of Canadians surveyed had a recession as a top financial concern, and 83% were concerned about inflation.
44% of Canadians plan to reduce discretionary spending in the next three months, with many shifting to thriftier shopping options like looking for sales (63%) and shopping at affordable retailers (40%).
27% of Canadians anticipate not being able to pay all their current bills and loans in full, with 68% of those unable to make credit card payments.
Over two million Canadian consumers have experienced an average 25% increase in monthly mortgage payments from March 2022 to March 2025, leading to increased credit card debt and higher delinquencies.

Jul 17, 2025, 10:00 AM

Press Release

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