What does Equifax do and what are its main business segments?

What is the market's earnings forecast for Equifax next quarter?

What is Equifax's latest dividend and current dividend yield?

What were the key takeaways from Equifax’s earnings call?

What guidance did Equifax's management provide for the next earnings period?

What is the revenue and EPS growth rate for Equifax year over year?

What is Equifax's gross profit margin?

What were the key takeaways from Equifax's earnings call?

- **Record Growth**: 2025 revenue up 7%, driven by EWS (6% growth, 51.5% EBITDA margin) and USIS (10% growth, 35.2% margin). Q4 revenue $1.55 billion (+9% YoY).
- **AI-Driven Innovation**: 15% New Product Vitality in 2025, with TWN Indicator adoption in mortgage and auto. 40 new AI patents enhance predictive models.
- **Free Cash Flow Dominance**: $1.13 billion free cash flow in 2025, with $927 million returned to shareholders. 2026 guidance includes >$1 billion free cash flow.
- **Strategic Risks**: FICO score pass-through reduces EBITDA margin by 200bps, but organic growth ex-FICO +7% supports 75bps margin expansion.
- **VantageScore Opportunity**: Full adoption could add $160 million EBITDA and +$1 EPS, offsetting FICO headwinds.

**【CEO Summary Section】**
- **2025 Performance**: Revenue of $6.075 billion (+7% YoY), EPS of $7.65, and free cash flow of $1.13 billion. EWS delivered 6% revenue growth with 51.5% EBITDA margin, while USIS saw 10% revenue growth and 35.2% margin.
- **Q4 2025 Highlights**: Revenue $1.551 billion (+9% YoY), EBITDA $508 million (32.8% margin). USIS mortgage revenue up 33%, driven by TWN Indicator adoption. Free cash flow conversion 120%.
- **AI and Innovation**: 15% New Product Vitality (NPI) in 2025, with Ignite AI Advisor and TWN Indicator solutions. 40 new AI patents added, leveraging cloud for efficiency.
- **Free Cash Flow**: $1.13 billion in 2025, with $927 million returned to shareholders via buybacks and dividends.

**【CFO Financial Commentary】**
- **2026 Guidance**: Revenue $6.7 billion (+10.6% YoY), EBITDA $2.12 billion (+9.8%). Excluding FICO pass-through, organic growth 7% and EBITDA margin +75bps.
- **Mortgage Impact**: FICO score pass-through revenue doubles, reducing EBITDA margin by 200bps. Excluding FICO, EBITDA margin expands 75bps.
- **BU Growth**: EWS revenue +high single digits, USIS +mid-teens, International +mid-single digits. Free cash flow >$1 billion with 100%+ conversion.
- **Share Repurchases**: $927 million in 2025, with $1.5 billion available in 2026 for M&A and returns.

**【Q&A Highlights】**
- **AI in Government**: TWN Indicator adoption in social services, driving 12% error rate reduction. Continuous monitoring solutions for SNAP expected in H2 2026.
- **VantageScore Adoption**: Over 200 lenders testing free VantageScore. Full adoption could add $160 million EBITDA and +$1 EPS.
- **Mortgage Market**: 2026 origination down low single digits, but USIS hard inquiries +mid-single digits due to TWN share gains.
- **International**: Brazil and Australia strong, offsetting Canadian and U.K. weakness. Cloud completion in H2 2026 to drive efficiency.
- **FICO Direct Model**: Agnostic to CRA reseller score calculation, focusing on credit file margin stability.

Equifax Inc. (EFX) Q4 2025 Earnings Call Transcript

- **Revenue Beat**: $1.54B (+7% YoY), driven by 26% USIS mortgage and 20% EWS Gov growth. EPS $2.04 (+$0.12 vs. guidance).
- **VantageScore Disruption**: $4.50 pricing vs. FICO's $10, targeting $100-200M profit by 2026. Early adoption in mortgage and gov.
- **AI Innovation**: 150+ NPIs, 30% model performance improvement. Vitality Index 16% (vs. 12% prior guidance).
- **Free Cash Flow**: Guidance raised to $950-975M, up from $900M, with 100%+ cash conversion.
- **Gov Risk**: 16% states using TWN for SNAP, 40% states over 6% error rate threshold.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue of $1.54 billion, up 7% YoY, driven by USIS mortgage (26% growth) and EWS non-mortgage (high single-digit growth). Adjusted EPS of $2.04 exceeded guidance by $0.12.
- **VantageScore Strategy**: Announced VantageScore 4.0 pricing at $4.50, 50% below FICO's $10, targeting $100-200 million profit by 2026. Early adoption seen in mortgage and government sectors.
- **Government Growth**: EWS Government revenue up 20% YoY, driven by TWN adoption and OB3 compliance. 16% of states now use TWN for SNAP verification.
- **AI Innovation**: Launched 150+ NPIs, including TWN indicator and Ignite AI Advisor. Vitality Index at 16%, up from 12% prior guidance.

**【CFO Financial Commentary】**
- **Full Year Guidance**: Raised revenue by $40 million to $6.1-6.7% YoY, adjusted EPS by $0.12 to $2.04-2.12. Free cash flow guidance increased to $950-975 million.
- **Margins**: Adjusted EBITDA margin 32.7%, up 20bps YoY. USIS margin 35.2%, up 130bps YoY due to Cloud cost savings.
- **Mortgage Outlook**: Q4 mortgage hard inquiries expected down low single digits, but USIS mortgage revenue up 20% YoY.
- **Cost Management**: $44 million restructuring charges in Q3, with $30 million annual savings by 2026.

**【Q&A Key Highlights】**
- **VantageScore Adoption**: Momentum from FICO's 16x price increase (2025: $4.95 → 2026: $10). Customers in production for TWN indicator in mortgage and auto.
- **Government Risk**: Federal shutdown could delay verification activity, but guidance assumes no material impact.
- **AI Impact**: EFX.AI models outperform legacy by 30%, with 150+ NPIs launched in 2025. AI-driven cost savings in internal operations.
- **Mortgage Pricing**: Equifax to absorb $10 FICO cost, making VantageScore 50% cheaper. Long-term upside from VantageScore 4.0 adoption.
- **International Growth**: Canada and Latin America up 11% and 9% YoY, driven by Cloud transformation and new products.

Equifax Inc. (EFX) Q3 2025 Earnings Call Transcript

- **Revenue Beat**: Q2 $1.54B (+8% CC) driven by 20% mortgage growth and TWN adoption. 
- **Strategic Momentum**: TWN records +10% YoY; new auto/P-loan TWN solutions launched. 
- **Government Growth**: OBBBA bill sets up 2026+ expansion; $160B improper payment TAM. 
- **Risks**: Litigation costs (+$7M Q2) and mortgage inquiry decline (-8.5% YoY). 
- **Free Cash Flow**: $239M Q2, up $100M YoY; $900M+ FY25 target.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 revenue reached $1.54 billion, up 8% in constant currency, driven by USIS and EWS segments. Mortgage revenue grew 20% YoY, while non-mortgage revenue increased 4%.
- **Key Business Units**: 
  - **USIS**: Mortgage revenue up 20% due to TWN indicator adoption; non-mortgage revenue +4%. 
  - **EWS**: Workforce Solutions revenue +8%, Government +14%, Consumer Lending +19%. 
  - **International**: 6% growth in constant currency, led by Latin America and Europe.
- **Strategic Initiatives**: TWN record additions up 10% YoY to 198 million active records; new TWN indicator solutions launched in mortgage, auto, and P-loan.
- **Guidance**: Full-year revenue guidance unchanged at $6 billion; Q3 EPS expected $1.87-$1.97, up 3.5% YoY midpoint. 

**【CFO Financial Commentary】**
- **Financial Highlights**: 
  - GAAP net income: $420 million; Non-GAAP EPS: $1.08 (vs. $1.05 expected). 
  - Adjusted EBITDA margin: 32.5%; Free cash flow: $239 million (up $100 million YoY). 
  - Share buybacks: $127 million in Q2; $3 billion program remains active. 
- **Cost Management**: EWS margins at 51.1%, USIS at 35%, International at 26.4%. Litigation costs increased Q2, impacting full-year EBITDA margin by 100bps. 
- **FX Impact**: Q2 revenue +$9 million from weaker USD; FY25 guidance raised by $35 million. 

**【Q&A Highlights】**
- **Government Business**: Near-term headwinds from Biden admin funding changes; long-term growth driven by OBBBA bill (6-month redeterminations, work requirements). 
- **Mortgage Market**: Hard inquiries down 8.5% YoY; TWN indicator adoption expected to accelerate in 2026. 
- **Talent Solutions**: Weak hiring trends (+4% Q2) due to economic uncertainty; TWN record growth (+18M YoY) offsets share shifts in criminal data. 
- **VantageScore**: Early-stage adoption; potential share gains if pricing aligns with FICO. 
- **International**: Latin America (+11%), Europe (+6%) outperform Canada (+1%) due to tariff impacts.

Equifax Inc. (EFX) Q2 2025 Earnings Call Transcript

- **Q1 Revenue Beat**: $1.442 billion (+4% YoY) with 2/3 growth from non-mortgage verticals, exceeding guidance by $37 million. Adjusted EPS of $1.53 (+$0.15 vs. midpoint) driven by margin expansion.
- **TWIN-Powered Innovation**: Launch of first only-Equifax mortgage solution combining credit and income data, with plans to expand to auto and P loans. EWS added 3 million new TWIN records, targeting 10% Government growth in H2 2025.
- **Free Cash Flow Growth**: $900 million free cash flow expected in 2025 (95% conversion), supporting $3 billion share buyback and 28% dividend hike. Long-term capital allocation focuses on high-return investments and shareholder returns.
- **Resilience in Recession**: 67% of revenue from recession-resilient businesses, with potential 5%-10% growth in a typical recession. Mortgage market recovery could drive significant upside, with 13 million refinancable loans at current rates.

**【CEO Summary Section】**
- Equifax reported Q1 2025 revenue of $1.442 billion, up 4% year-over-year (5% in constant currency), surpassing the midpoint of February guidance by $37 million. Non-mortgage verticals drove 2/3 of the outperformance, with USIS leading the charge. Adjusted EPS of $1.53 exceeded expectations by $0.15, driven by higher revenue and improved margins. Debt leverage reached 2.5x, aligning with the long-term goal.
- The company launched its first-ever only-Equifax mortgage solution combining TWIN income data with credit files, seeing strong customer demand. Plans to expand this strategy to auto and P loans later in 2025. EWS delivered EBITDA margins above 50%, outperforming expectations, with 3 million new TWIN records added.
- Despite strong Q1 performance, the company maintained its 2025 guidance due to economic uncertainty, including a 12% decline in U.S. mortgage market activity. Free cash flow is expected to reach $900 million, with a cash conversion rate of 95%.

**【CFO Financial Commentary】**
- Q1 2025 adjusted EBITDA margins were 29.3%, up 20 basis points year-over-year, with EWS margins exceeding 50%. USIS revenue grew 7%, driven by non-mortgage verticals (6% growth) and strong performance in pre-qualification products. International revenue rose 7% in constant currency, led by double-digit growth in Brazil and Argentina.
- Second-quarter guidance includes total revenue growth of 5.5% (6.5% in constant currency) and adjusted EPS of $1.85-$1.95, reflecting revenue growth and lower interest expenses. Full-year 2025 guidance remains unchanged, with a focus on maintaining a strong balance sheet and returning excess cash to shareholders through a $3 billion share repurchase program and a 28% dividend increase.

**【Q&A Highlights】**
- **Government and TWIN Expansion**: The SSA amendment added $50 million in annual revenue, with EWS targeting 10% Government growth in the second half of 2025. The company is expanding its presence in Washington to capitalize on program integrity initiatives, with a $5 billion TAM in federal government solutions.
- **Mortgage Market Resilience**: Despite a 12% full-year decline in U.S. mortgage inquiries, USIS mortgage revenue grew 11% in Q1, outperforming the market due to pricing pass-through and product innovation. The company expects mortgage revenue to rebound in a rate-cutting recession scenario.
- **Capital Allocation**: The new $3 billion share repurchase program and 28% dividend increase reflect confidence in the business model. Free cash flow generation is expected to accelerate, enabling consistent returns to shareholders while maintaining investment-grade balance sheet metrics.
- **Economic Scenario Preparedness**: Equifax’s recession-resilient businesses (67% of revenue) are positioned to grow 5%-10% in a typical recession, driven by subscription-based models and TWIN data penetration. The company expects to return to shareholders $1 billion annually through dividends and buybacks, growing with the business over time.

Equifax (EFX)-22 Apr 25-2025 Q1 Earnings call transcript

- **Record 2024 Performance**: 8% revenue growth, $813M free cash flow, and first $500M+ EBITDA quarter. 85% of revenue now on Equifax Cloud.
- **AI-Driven Innovation**: 12% Vitality Index, 15 new EWS partnerships, and AI-powered credit solutions launched in 2024.
- **2025 Outlook**: 6% organic growth, $7.45 EPS, $900M free cash flow. Risks include 12% mortgage inquiry decline and 8% hiring volume drop.
- **Margin Management**: EWS margins down 200 bps in Q1 2025 due to partner onboarding, USIS margins up 150 bps from cloud savings.
- **Mortgage Recovery Potential**: $1.2B incremental revenue if mortgage inquiries stabilize, with $700M EBITDA impact.
- **Capital Return Plan**: Dividend growth and buyback program to start in 2025, post-debt reduction.


**【CEO Summary Section】**
- **2024 Financial Performance**: Revenue grew 8% YoY, adjusted EPS reached $7.29, and free cash flow increased 58% to $813 million. The company completed its cloud migration for 85% of revenue, enabling AI-driven innovation.
- **Strategic Milestones**: Achieved 12% Vitality Index (new product revenue growth), signed 15 new EWS partnerships, and launched AI-powered credit solutions combining credit and income data.
- **2025 Outlook**: Organic revenue growth of 6% (6% in mortgage, 6% non-mortgage), adjusted EPS of $7.45, and free cash flow of $900 million. Challenges include U.S. mortgage inquiries down 12% and hiring volumes down 8%.

**【CFO Financial Commentary】**
- **Q4 2024 Results**: Revenue $1.419 billion (+7%), adjusted EBITDA $502 million (first time over $500M), adjusted EPS $2.12 (midpoint of guidance). Free cash flow conversion 89%.
- **2025 Guidance**: Revenue $5.95 billion (+4.7%), adjusted EBITDA $1.9 billion (+5%), adjusted EPS $7.45 (+2%). Margins expected to expand 25 bps, driven by cloud cost savings ($360M in 2025) and new product rollouts.
- **Key Risks**: U.S. dollar strength (-130 bps to growth), mortgage market decline (12% inquiries), and hiring market weakness (8% decline in BLS hires).

**【Q&A Highlights】**
- **Margins & Onboarding Costs**: EWS margins expected to decline 200 bps in Q1 2025 due to onboarding costs for 15 new partners. USIS margins to improve 150 bps as legacy systems decommissioned.
- **Mortgage Market Recovery**: If mortgage inquiries stabilize at 2024 levels, Equifax could see $1.2 billion in incremental revenue and $700 million in EBITDA. Current guidance assumes 12% decline in 2025.
- **Capital Allocation**: Plan to return capital to shareholders via dividend growth and multiyear buyback program in 2025, following debt reduction to target levels.
- **Government Business**: CMS funding changes (75% reimbursement) impact 2025 growth, but long-term opportunities remain with $5 billion TAM in government verification services.


Actual														1.4	1.6	1.87	2	1.97	1.98	1.85	1.84	2.22	2.09	1.73	1.52	1.43	1.71	1.76	1.81	1.5	1.82	1.85	2.12	1.53	2	2.04	2.09
Forecast														1.2885	1.2977	1.5982	1.8292	1.5221	1.7144	1.7287	1.8114	2.1509	2.0272	1.6262	1.4886	1.3653	1.6757	1.7764	1.7431	1.4434	1.7603	1.8459	2.0971	1.4054	1.9337	1.938	2.057
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+8.65%	+23.30%	+17.01%	+9.34%	+29.43%	+15.49%	+7.02%	+1.58%	+3.21%	+3.10%	+6.38%	+2.11%	+4.74%	+2.05%	-0.92%	+3.84%	+3.92%	+3.39%	+0.22%	+1.09%	+8.87%	+3.43%	+5.26%	+1.60%

EFX

EFX fundamentals

EFX Q4 2025 Earnings

Earnings Call

You can ask Aime

EFX

EFX fundamentals

EFX Q4 2025 Earnings

Earnings Call

EFX Earnings Call Summary for Q4/20258:30 AM on Feb 4, 2026

EFX Earnings Call Summary for Q3/20258:30 AM on Oct 21, 2025

EFX Earnings Call Summary for Q2/20258:30 AM on Jul 22, 2025

EFX Earnings Call Summary for Q1/20258:30 AM on Apr 22, 2025

EFX Earnings Call Summary for Q4/20248:30 AM on Feb 6, 2025

You can ask Aime