For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Equifax (EFX - Free Report) Equifax Inc. is a global data, analytics and technology company. It provides information solutions and human resources business process outsourcing services for businesses, governments and consumers. Its services are based on comprehensive databases of consumer and business information derived from numerous sources, including credit, financial assets, telecommunications and utility payments, employment, income, demographic and marketing data.
EFX is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 20.08; value investors should take notice.
For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.00 to $8.55 per share. EFX boasts an average earnings surprise of +5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, EFX should be on investors' short list.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Equifax (EFX - Free Report) Equifax Inc. is a global data, analytics and technology company. It provides information solutions and human resources business process outsourcing services for businesses, governments and consumers. Its services are based on comprehensive databases of consumer and business information derived from numerous sources, including credit, financial assets, telecommunications and utility payments, employment, income, demographic and marketing data.
EFX is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. EFX has a Growth Style Score of B, forecasting year-over-year earnings growth of 11.8% for the current fiscal year.
Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.00 to $8.55 per share. EFX boasts an average earnings surprise of +5%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, EFX should be on investors' short list.
On September 08, 2026, Equifax Inc EFX shares fell 3.1% to $171.62, continuing a downward trend that has seen the stock decline 20.2% year-to-date and 31.4% over the past year. The shares have traded within a 52-week range of $150.75 to $271.84.
GF Value™ verdict: The current price is $171.62, 41.3% below the GF Value™ estimate of $292.38.GF Score™ of 75/100 indicates the stock is above average in quality.Notable signal: Insider activity shows a net selling of $37.1M over the past year.Is EFX Overvalued or Undervalued?According to the GF Value™, Equifax Inc EFX is significantly undervalued, with a current price of $171.62 compared to its estimated fair value of $292.38. This presents a margin of safety of 41.3%, suggesting that EFX may be undervalued in the market. The GF Value™ is derived from a combination of historical trading multiples, the company’s past business growth, and forecasts of future performance. Therefore, this discrepancy indicates a potential investment opportunity, although investors should remain cautious about the underlying reasons for the stock's recent performance.
The stock's decline in price over the past year may raise concerns about the company's short-term challenges. However, the significant difference between the current price and the GF Value™ suggests that, based on historical performance and market estimates, there is considerable potential upside for long-term investors. It is essential to consider the broader economic environment and any company-specific risks that may have contributed to the stock's downturn.
How Does EFX's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)30.2x44.9x (5-Year Median)Forward P/E16.9xN/AThe current P/E ratio of 30.2x is notably lower than its 5-year median P/E of 44.9x, indicating that the stock is trading at a discount compared to its historical valuation. This aligns with the GF Value™ assessment that EFX is undervalued. The forward P/E of 16.9x further illustrates that the stock may offer a more attractive valuation compared to past metrics, suggesting that market sentiment may not fully reflect the company's potential based on its earnings outlook.
What Does EFX's GF Score™ Tell Us?The GF Score™ evaluates a company's quality based on several key factors including financial strength, profitability, growth, valuation, and momentum. EFX's score of 75/100 indicates it is above average, with particular strengths in profitability and growth.
MetricRatingGF Score™75Financial Strength5/10Profitability7/10Growth7/10Valuation4/10Momentum4/10The scores suggest that while EFX has a solid foundation in profitability and growth, its financial strength and momentum rank lower, indicating potential areas of concern. The decent GF Score™ reflects a company that has demonstrated resilience in its operations, but the lower valuation and momentum scores could imply challenges in maintaining investor confidence over the short term.
What Are Gurus and Insiders Doing with EFX?Currently, 13 gurus hold positions in Equifax Inc EFX, with 8 increasing their stakes and 5 trimming their holdings in recent quarters. This mixed activity suggests a nuanced outlook among institutional investors, with some seeing potential value in the stock while others may have reservations.
In terms of insider activity, the past year has seen insiders purchase $0.5 million worth of shares but sell a substantial $37.6 million, resulting in a net selling of $37.1 million. This pattern of net selling could indicate a lack of confidence from insiders regarding the company's short-term prospects, which may impact investor sentiment and market performance. The insider activity also serves as a critical indicator for potential investors to consider as they assess the company's future direction.
What This Means for InvestorsBased on the analysis of the GF Value™, Equifax Inc EFX is currently undervalued, presenting a potential opportunity for investors looking for long-term gains. However, the significant insider selling and lower momentum scores warrant a cautious approach. Investors should weigh the potential upside against the risks identified in the company's performance and market environment.
For further details and insights, visit the Equifax Inc EFX stock page and explore additional resources.
Frequently Asked QuestionsWhat is EFX's GF Score™?
EFX has a GF Score™ of 75/100, indicating it is above average in quality compared to its peers.
Is EFX overvalued or undervalued?
EFX is currently undervalued, with a GF Value™ of $292.38 compared to its market price of $171.62.
What is EFX's P/E ratio?
EFX's P/E ratio is 30.2x, which is significantly below its 5-year median P/E of 44.9x, suggesting it is trading at a discount relative to historical valuations.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.
Equifax rides on proprietary data, verification growth and cloud-AI efficiencies, while compliance and refinancing risks weigh on financial performance.
B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Equifax, Inc. (NYSE:EFX – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,916 shares of the credit services provider’s stock, valued at approximately $463,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its stake in shares of Equifax by 16.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 401 shares of the credit services provider’s stock valued at $104,000 after acquiring an additional 58 shares during the last quarter. Athena Investment Management grew its position in Equifax by 2.4% during the 4th quarter. Athena Investment Management now owns 2,608 shares of the credit services provider’s stock worth $566,000 after acquiring an additional 60 shares during the last quarter. Horizon Investments LLC increased its stake in Equifax by 3.2% in the 4th quarter. Horizon Investments LLC now owns 1,980 shares of the credit services provider’s stock worth $430,000 after purchasing an additional 62 shares during the period. Parkside Financial Bank & Trust increased its stake in Equifax by 3.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,043 shares of the credit services provider’s stock worth $443,000 after purchasing an additional 63 shares during the period. Finally, V Square Quantitative Management LLC lifted its position in Equifax by 3.8% in the first quarter. V Square Quantitative Management LLC now owns 1,730 shares of the credit services provider’s stock valued at $312,000 after purchasing an additional 64 shares during the last quarter. 96.20% of the stock is owned by institutional investors.
Equifax Trading Up 1.0% Shares of EFX opened at $194.54 on Tuesday. Equifax, Inc. has a 1-year low of $150.74 and a 1-year high of $271.84. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.92. The firm’s 50-day moving average price is $172.75 and its 200-day moving average price is $178.11. The firm has a market capitalization of $22.86 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 1.55 and a beta of 1.30.
Equifax (NYSE:EFX – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The credit services provider reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. Equifax had a net margin of 10.73% and a return on equity of 21.61%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm earned $2.00 earnings per share. Equifax’s revenue was up 10.6% on a year-over-year basis. Equifax has set its Q3 2026 guidance at 2.150-2.250 EPS and its FY 2026 guidance at 8.390-8.690 EPS. Sell-side analysts anticipate that Equifax, Inc. will post 8.57 EPS for the current year. Equifax Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 31st. Equifax’s dividend payout ratio (DPR) is presently 39.37%.
Analyst Ratings Changes EFX has been the subject of a number of analyst reports. Rothschild & Co Redburn raised Equifax from a “neutral” rating to a “buy” rating and increased their price objective for the company from $214.00 to $235.00 in a research note on Friday. Needham & Company LLC decreased their target price on shares of Equifax from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. BMO Capital Markets lowered their price target on shares of Equifax from $195.00 to $179.00 and set a “market perform” rating for the company in a report on Monday, July 13th. Robert W. Baird dropped their price objective on Equifax from $245.00 to $232.00 and set an “outperform” rating for the company in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company cut their price objective on Equifax from $220.00 to $212.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Equifax currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.89.
View Our Latest Analysis on EFX
Insider Buying and Selling at Equifax In related news, CEO Mark W. Begor sold 37,791 shares of Equifax stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $172.16, for a total transaction of $6,506,098.56. Following the sale, the chief executive officer directly owned 271,890 shares in the company, valued at $46,808,582.40. The trade was a 12.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by corporate insiders.
Equifax Company Profile (Free Report)
Equifax Inc (NYSE: EFX) is a global data, analytics and technology company that specializes in consumer and commercial credit reporting, decisioning tools and identity solutions. Headquartered in Atlanta, Georgia, Equifax is one of the three major consumer credit reporting agencies in the United States and provides credit information and related services to lenders, employers, governments and consumers worldwide.
The company’s offerings include consumer credit reports and scores, credit monitoring and identity protection services, and a range of business-oriented products for risk management, fraud detection and compliance.
See Also Five stocks we like better than Equifax Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain Snowflake Could Be Headed for New Highs Despite Insider Selling MongoDB Is Surging—And the Next Catalyst Is Almost Here
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Bank of New York Mellon Corp acquired a new stake in Equifax, Inc. (NYSE:EFX – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 582,933 shares of the credit services provider’s stock, valued at approximately $92,523,000. Bank of New York Mellon Corp owned 0.50% of Equifax at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of EFX. Cullen Frost Bankers Inc. bought a new stake in shares of Equifax in the 4th quarter valued at about $25,000. Ameriflex Group Inc. grew its holdings in Equifax by 612.5% during the 4th quarter. Ameriflex Group Inc. now owns 114 shares of the credit services provider’s stock worth $25,000 after acquiring an additional 98 shares during the period. Reflection Asset Management bought a new stake in Equifax in the fourth quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Equifax in the 4th quarter valued at $26,000. Finally, Clearstead Trust LLC acquired a new position in shares of Equifax during the second quarter valued at about $28,000. 96.20% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades Several analysts have recently commented on the company. Bank of America reduced their target price on Equifax from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Needham & Company LLC cut their price target on Equifax from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. BNP Paribas Exane reduced their price objective on Equifax from $195.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, June 18th. Robert W. Baird decreased their price objective on Equifax from $245.00 to $232.00 and set an “outperform” rating for the company in a report on Wednesday, July 22nd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $182.00 target price on shares of Equifax in a research report on Tuesday, July 21st. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Equifax currently has an average rating of “Moderate Buy” and an average price target of $216.89.
View Our Latest Report on Equifax Equifax Trading Up 1.0% NYSE EFX opened at $194.54 on Tuesday. The firm has a market capitalization of $22.86 billion, a P/E ratio of 34.19, a PEG ratio of 1.55 and a beta of 1.30. The business has a fifty day simple moving average of $172.75 and a 200 day simple moving average of $178.11. Equifax, Inc. has a 12 month low of $150.74 and a 12 month high of $271.84. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.92.
Equifax (NYSE:EFX – Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The credit services provider reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. Equifax had a net margin of 10.73% and a return on equity of 21.61%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm earned $2.00 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equifax has set its Q3 2026 guidance at 2.150-2.250 EPS and its FY 2026 guidance at 8.390-8.690 EPS. On average, analysts predict that Equifax, Inc. will post 8.57 EPS for the current fiscal year.
Equifax Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, August 31st. This represents a $2.24 annualized dividend and a yield of 1.2%. Equifax’s payout ratio is 39.37%.
Insider Transactions at Equifax In other Equifax news, CEO Mark W. Begor sold 37,791 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $172.16, for a total value of $6,506,098.56. Following the completion of the sale, the chief executive officer directly owned 271,890 shares of the company’s stock, valued at approximately $46,808,582.40. This represents a 12.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.70% of the company’s stock.
Equifax Company Profile (Free Report)
Equifax Inc (NYSE: EFX) is a global data, analytics and technology company that specializes in consumer and commercial credit reporting, decisioning tools and identity solutions. Headquartered in Atlanta, Georgia, Equifax is one of the three major consumer credit reporting agencies in the United States and provides credit information and related services to lenders, employers, governments and consumers worldwide.
The company’s offerings include consumer credit reports and scores, credit monitoring and identity protection services, and a range of business-oriented products for risk management, fraud detection and compliance.
Further Reading Five stocks we like better than Equifax Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain Snowflake Could Be Headed for New Highs Despite Insider Selling MongoDB Is Surging—And the Next Catalyst Is Almost Here Want to see what other hedge funds are holding EFX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equifax, Inc. (NYSE:EFX – Free Report).
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TORONTO, Aug. 24, 2026 (GLOBE NEWSWIRE) -- Equifax® Canada’s Q2 2026 Market Pulse Quarterly Consumer Credit Trends and Insights reveals that total Canadian consumer debt rose to $2.68 trillion, a 4.18 per cent increase compared to Q2 2025 and a 1.3 per cent rise from the previous quarter.
Following a drop in non-mortgage debt in Q1 2026, balances saw a seasonal rebound in the second quarter. Non-mortgage debt reached $712.2 billion in Q2, marking a 4.8 per cent jump year-over-year and a 2.09 per cent increase from Q1 2026. National 90+ day non-mortgage balance delinquency rates saw a seasonal improvement, dipping to 1.76 per cent in Q2 2026 from 1.79 per cent in Q1, though it remained elevated compared to the 1.70 per cent rate observed a year ago.
"Between March and June, we typically see non-mortgage debt levels rising and missed payments falling," said Rebecca Oakes, Vice President of Advanced Analytics at Equifax Canada. "This year has followed a similar pattern as consumers remain cautious, particularly around major purchases. And while rising delinquency levels have started to slow, pockets of growing stress are still evident in some areas."
Mortgage Holders In Ontario Continue To Show Financial Strain
While the Q2 data suggests an overall stable position for the credit health of Canadians, mortgage holders in Ontario continue to buck this trend. 90+ day missed payments on mortgages in Ontario have risen every quarter for the last 4 years, the wider impact being seen on other types of debt these individuals hold.
Nationally, non-mortgage debt for mortgage holders grew by 1.9% compared to the previous quarter, reaching $304.6 billion in Q2. Their 90+ day non-mortgage delinquency rate crept up to 0.77 per cent, an increase of 0.4 per cent compared to Q1 and 12.5 per cent rise year-on-year.
In Ontario, the 90+ day non-mortgage delinquency rate rose 2.2 per cent compared to Q1, and a huge 27 per cent vs 2025, reaching 0.86 per cent. Excluding Ontario, the national level rose just 2.1 per cent year on year, highlighting the divergence for Ontario.
"The data clearly shows that the persistent pressure of higher interest rates and mortgage renewal shocks have impacted many homeowners for several years," Oakes noted. "Ontario continues to stand out though, with some mortgage holders struggling to keep up with other credit obligations."
For those without a mortgage, the outlook was more favourable, their 90+ day non-mortgage delinquency rate improved by 2.3 per cent (at 2.5 per cent) compared to Q1 2026, remaining nearly unchanged year-over-year. However, the outlook was not as good in Ontario with the 90+ day non-mortgage delinquency rates rising 3.0 per cent compared to 12 months ago.
First-Time Homebuyers Increasingly Rely on Co-Borrowers
Joint mortgages among first-time homebuyers rose from 57.6 per cent in 2016 to 70.9 per cent through Q2 2026. Among first-time homebuyers under 35, Ontario and British Columbia had roughly twice the proportion of joint mortgages involving borrowers 20 or more years apart than the rest of Canada, pointing to greater reliance on parental or family support. “For many younger Canadians, buying a first home seems to increasingly mean doing it with someone else,” said Oakes. “Family support appears to play a larger role in higher-cost markets.”
Credit Card Balances Rise
After a slow start to the year in consumer card usage, credit card balances grew in the second quarter, supported by a seasonal rise in consumer spending. When adjusted for inflation, the average credit card spend per consumer climbed steadily throughout the quarter, reaching $2,192 and sitting 1.4 per cent higher than 12 months ago.
Consequently, national credit card debt swelled to $134.2 billion, up from $130.6 billion in Q1 2026. The 90+ day delinquency rate for national credit cards improved slightly to 4.19 per cent, down from 4.28 per cent in the previous quarter, but remained higher than 2025, showing a 6.8 per cent annual increase.
Payment behaviour on credit cards remained flat with 65 per cent of consumers paying their credit card balance in full each month. Minimum payment levels were stable at 4 per cent. A recent Equifax Canada Consumer Survey found that consumers surveyed were concerned about making their payments with 25 per cent of respondents noting that they expect to make only minimum payments in coming months, while another 7 per cent believe they are likely to fall behind.
"When we compare our recent survey to the data we are seeing today, it highlights that although the numbers are currently stable, consumers may be worried about maintaining this position," explained Oakes. "There seems to be a significant amount of uncertainty in the current environment and we need to be aware of the impact that any additional economic pressures could have on this particular consumer group."
Consumers Remain Cautious About New Vehicle Purchases
The automotive sector regained some seasonal momentum in Q2 2026. Auto loan balances (captives and auto bank loans) grew to $179.1 billion, representing a 2.2 per cent increase from Q1 2026 and a 4.9 per cent rise year-over-year. However, this increase was below expected levels for this time of year. The number of new auto loans opened in the second quarter was 9.2 per cent lower than Q2 2025, a similar trend to what we saw in Q1. Average new loan amounts were much higher compared to 12 months ago, on average rising from $34,713 to $36,979. The higher loan amounts contributed to the rising overall balance.
"Even with financing incentives and lower used vehicle prices, many consumers appear to be holding off on big purchases like new vehicles and waiting to see what the economy will bring. Economic conditions and employment uncertainty continue to influence household decisions,” added Oakes.
Encouragingly, the overall 90+ day delinquency rate for auto loans improved to 1.10 per cent, down from 1.11 per cent in the previous quarter. This improvement was driven primarily by the used vehicle market, whereas new auto loans experienced a slight uptick in severe delinquency rates.
Equifax Canada® Market Pulse Quarterly Consumer Credit Trends and Insights leverages market-leading data and analytics to deliver critical insights for Canada’s financial ecosystem to help consumers live their financial best.
Age Group Analysis – Debt & Overall Balance Delinquency Rates (excluding mortgages)
Average
Debt
(Q2 2026)Average Debt Change
Year-over-Year
(Q2 2026 vs. Q2 2025)90+ Day Delinquency Rate ($)
(Q2 2026)Delinquency Rate ($) Change
Year-over-Year
(Q2 2026 vs. Q2 2025)90+ Day
Delinquency Rate (#)
(Q2 2026)Delinquency Rate (#) Change
Year-over-Year
(Q2 2026 vs. Q2 2025)18-25$8,7463.42%2.15%-5.59%2.50%-2.31%26-35$17,6320.74%2.59%4.40%2.62%6.14%36-45$27,5091.57%2.12%2.98%2.29%4.80%46-55$35,3791.84%1.63%6.46%1.88%5.37%56-65$30,7184.69%1.27%4.17%1.31%7.26%65+$15,5674.17%1.15%-0.79%0.82%3.55%Canada$22,6992.59%1.76%3.09%1.83%4.67%
Major City Analysis – Debt & Overall Balance Delinquency Rates (excluding mortgages)
CityAverage
Debt
(Q2 2026)Average Debt Change
Year-over-Year
(Q2 2026 vs. Q2 2025)90+ Day Delinquency Rate ($)
(Q2 2026)Delinquency Rate ($) Change
Year-over-Year
(Q2 2026 vs. Q2 2025)90+ Day
Delinquency Rate (#)
(Q2 2026)Delinquency Rate (#) Change
Year-over-Year
(Q2 2026 vs. Q2 2025)Calgary$24,9552.46%2.20%2.29%1.91%3.25%Edmonton$24,1891.32%2.69%-2.81%2.33%-0.95%Halifax$22,1012.84%1.54%-0.82%1.82%4.50%Montreal$17,7243.00%1.59%2.58%1.80%4.92%Ottawa$20,0001.39%1.62%7.48%1.57%9.68%Toronto$21,8662.59%2.34%5.12%2.29%5.58%Vancouver$24,5073.85%1.47%4.28%1.65%6.60%St. John's$24,6121.27%1.43%-5.91%1.82%0.30%Fort McMurray$38,0740.96%2.51%-15.34%2.79%-8.94%
Province Analysis - Debt & Overall Balance Delinquency Rates (excluding mortgages)
ProvinceAverage
Debt
(Q2 2026)Average Debt Change
Year-over-Year
(Q2 2026 vs. Q2 2025)90+ Day Delinquency Rate ($)
(Q2 2026)Delinquency Rate ($) Change
Year-over-Year
(Q2 2026 vs. Q2 2025)90+ Day
Delinquency Rate (#)
(Q2 2026)Delinquency Rate (#) Change
Year-over-Year
(Q2 2026 vs. Q2 2025)Ontario$23,2892.29%1.91%7.89%1.95%8.05%Quebec$19,9233.32%1.13%-1.04%1.41%1.28%Nova Scotia$22,2363.23%1.65%-1.70%1.99%3.80%New Brunswick$23,5097.56%1.62%-9.47%2.03%-2.37%PEI$24,8272.89%1.29%2.96%1.78%0.62%Newfoundland$25,4361.38%1.52%-5.65%1.95%1.71%Eastern Region$23,4594.14%1.59%-4.85%1.98%1.15%Alberta$25,0821.31%2.45%-0.63%2.15%0.06%Manitoba$18,8871.90%1.77%-0.87%1.87%4.40%Saskatchewan$23,7641.22%1.72%-4.85%1.89%-0.45%British Columbia$23,5582.86%1.57%3.27%1.72%5.43%Western Region$23,6702.05%1.94%0.35%1.91%2.52%Canada$22,6992.59%1.76%3.09%1.83%4.67% * Based on Equifax data for Q2 2026
About Equifax
At Equifax, we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.
Contact:
Andrew Findlater
SELECT Public Relations [email protected]
(647) 444-1197
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
Baird analyst Andrew Wittmann upgraded Parsons Corp (NYSE:PSN) from Neutral to Outperform and raised the price target from $48 to $57. Parsons closed at $46.06 on Thursday. See how other analysts view this stock. Keybanc analyst Matthew Gillmor upgraded InnovAge Holding Corp (NASDAQ:INNV) from Sector Weight to Overweight and announced a $13 price target. InnovAge shares closed at $10.72 on Thursday. See how other analysts view this stock. Rothschild & Co analyst Simon Clinch upgraded Equifax Inc (NYSE:EFX) from Neutral to Buy and raised the price target from $214 to $235. Equifax closed at $192.41 on Thursday. See how other analysts view this stock. JP Morgan analyst Tomohiko Sano upgraded TIC Solutions Inc (NYSE:TIC) from Underweight to Neutral and raised the price target from $9 to $11. TIC Solutions shares closed at $9.02 on Thursday. See how other analysts view this stock. Morgan Stanley analyst Carlos De Alba upgraded Ternium S.A. (NYSE:TX) from Equal-Weight to Overweight and raised the price target from $55 to $65. Ternium closed at $54.21 on Thursday. See how other analysts view this stock. Considering buying EFX stock? Here’s what analysts think:
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It has been about a month since the last earnings report for Equifax (EFX - Free Report) . Shares have added about 12.7% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Equifax due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Equifax Beats on Q2 EarningsEquifax Inc. has reported second-quarter 2026 adjusted earnings of $2.25 per share, up 12.5% year over year. The figure beat the Zacks Consensus Estimate of $2.21 by 1.8%.
Revenues increased 10.6% year over year to $1.7 billion and surpassed the consensus mark by a slight margin. Strong growth in U.S. Information Solutions (USIS), mortgage services and verification offerings supported the results. The company’s new-product Vitality Index was 16%.
EFX’s Workforce Solutions Revenues Rise 7%Workforce Solutions revenues increased 7% year over year to $705.4 million. Verification Services revenues advanced 7% to $607.6 million, aided by high-double-digit growth in Talent Solutions and Consumer Lending. Workforce Solutions mortgage revenues rose 8%.
Employer Services revenues increased 3% to $97.8 million. The Government business signed new contracts and renewals totaling roughly $300 million in annual contract value during the first half of 2026. About $100 million represented new business, while approximately $200 million came from renewals.
The segment’s operating margin contracted to 44.9% from 46.4% a year earlier. The adjusted EBITDA margin declined to 52.1% from 53.3%, indicating that revenue growth did not fully translate into margin expansion.
Equifax’s USIS Growth Accelerates on Mortgage DemandUSIS revenues climbed 17% year over year to $611.6 million. Online Information Solutions revenues increased 19% to $545.4 million, while Financial Marketing Services revenues grew 4% to $66.2 million.
USIS mortgage revenues rose 40%, benefiting from share gains and the increased adoption of the company’s mortgage scoring products. About 1,300 mortgage lenders were using VantageScore by July 2026, while second-quarter VantageScore transactions totaled 2.2 million, nearly three times the first-quarter level.
The segment’s operating margin was 22.5%, down slightly from 22.6% in the prior-year quarter. The adjusted EBITDA margin fell to 32.8% from 35%, reflecting the impacts of FICO-related mortgage royalty expenses despite strong revenue growth.
EFX’s International Business Gains Across Key MarketsInternational revenues rose 8% on a reported basis and 4% in local currency to $383.1 million. The Asia Pacific delivered the strongest reported rally, with revenues increasing 17% to $99.7 million. Local-currency growth was 7%, driven by Online B2B and commercial offerings.
Latin America revenues advanced 9% on a reported basis and 3% in local currency to $109 million. Canada revenues grew 6% to $73.3 million, while Europe revenues increased 2% on a reported basis and 1% in local currency to $101.1 million.
The international operating margin expanded to 12.1% from 10.9%. The adjusted EBITDA margin improved 120 basis points to 27.6%, supported by operating leverage and continued new product execution.
Equifax’s Profitability Benefits From Revenue GrowthAdjusted EBITDA increased 10.6% year over year to $552.1 million. The adjusted EBITDA margin remained flat at 32.5%. Excluding FICO mortgage royalties, management indicated that the adjusted EBITDA margin expanded 120 basis points.
Reported net income attributable to Equifax declined 3.9% to $183.9 million. GAAP diluted earnings increased to $1.54 per share from $1.53, helped by a lower diluted share count.
The quarter included a $40-million pre-tax charge, net of expected insurance recoveries, related to a legal settlement associated with a previously disclosed coding issue. Acquisition-related amortization expenses totaled $61.2 million.
EFX Strengthens AI Efforts & Expands in MexicoThe company doubled its 2026-2028 AI-driven cost and capital savings target to $150 million. Equifax is deploying artificial intelligence across product development, technology, operations and support functions to improve productivity, speed and accuracy.
EFX also signed an agreement to acquire Circulo de Credito for an enterprise value of $750 million. The Mexico-based credit bureau generated approximately $134 million in revenues in the 12 months ended June 2026, representing 31% growth, and recorded an adjusted EBITDA margin of roughly 46%. The transaction is expected to close in the fourth quarter of 2026 and be accretive to adjusted earnings in the first year.
Equifax Maintains Its 2026 Revenue OutlookFor the third quarter of 2026, management expects revenues between $1.68 billion and $1.71 billion, suggesting growth of 8.7-10.7%.
Adjusted earnings are projected between $2.15 and $2.25 per share. Adjusted EBITDA is expected to be $547-$564 million.
Equifax maintained its full-year revenue guidance of $6.71-$6.78 billion, implying growth of 10.5-11.6%.
Adjusted earnings are anticipated between $8.39 and $8.69 per share. Adjusted EBITDA is forecast at $2.10-$2.16 billion.
The company expects more than $1 billion in free cash flow and cash conversion above 100% for 2026. During the second quarter, it returned $366 million to shareholders, including $300 million in share repurchases and $66 million in dividends.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.
VGM ScoresCurrently, Equifax has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Equifax has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Investors interested in Consulting Services stocks are likely familiar with Information Services Group (III) and Equifax (EFX). But which of these two stocks offers value investors a better bang for their buck right now?
OAKLAND, Calif.--(BUSINESS WIRE)--On August 17, 2026, a federal judge granted preliminary approval to a $100 million settlement in a class action lawsuit against Equifax brought by Gibbs Mura and co-counsel alleging it miscalculated credit scores affecting approximately 4 million people in 2022. This is the largest settlement in history related to the Fair Credit Reporting Act (FCRA) and a landmark achievement in consumer protection. Gibbs Mura partner David Berger, court-appointed to co-lead t.
ATLANTA, Aug. 19, 2026 /PRNewswire/ -- Equifax® (NYSE: EFX) today announced that the Equifax Board of Directors declared a quarterly dividend of $0.56 per share, payable on September 15, 2026, to shareholders of record as of the close of business on August 31, 2026. Equifax has paid cash dividends for more than 100 consecutive years.
, /PRNewswire/ -- Equifax® (NYSE: EFX) will participate in several upcoming investor conferences.
Mark W. Begor, Chief Executive Officer, and John Gamble, Chief Financial Officer, will participate in the Barclays Virtual Credit Bureau Day on Wednesday, September 9, 2026, the Barclays Global Financial Services Conference on Monday, September 14, 2026, including a fireside chat at 2:00pm Eastern Time, and the J.P. Morgan U.S. All Stars Conference in London on Tuesday, September 22, 2026.
The company invites investors to join a live webcast of this fireside chat event at: https://investor.equifax.com/news-events/ir-calendar. A replay of this fireside chat will be available within 24 hours after the event on the company's Investor Relations website.
Trevor Burns, Senior Vice President of Corporate Investor Relations, will attend the Deutsche Bank Technology Conference on Wednesday, August 26, 2026.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
FOR MORE INFORMATION:
Molly Clegg for Equifax
[email protected]
Key Takeaways Equifax benefits from data-driven solutions, a diverse customer base and enterprise growth initiatives.EFX's growth is supported by acquisitions, consumer credit activity, innovation and efficient execution.Equifax faces seasonal revenue fluctuations and a 0.60 current ratio, below the industry's 1.04. Equifax Inc. (EFX - Free Report) shares have moved up 14.8% in the past three months. The industry and the Zacks S&P 500 Composite have rallied 17.7% and 2%, respectively, over the same period.
3-Month Stock Price Performance Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 revenues is pegged at $6.7 billion. The figure is expected to increase 10.9% year over year. For 2027, the consensus estimate is $7.4 billion, suggesting a 9.3% rise from the preceding year’s actual.
For EPS, the consensus mark for 2026 is pegged at $8.56, indicating an 11.9% year-over-year rally. The Zacks Consensus Estimate for 2027 EPS is set at $10.12. The figure suggests growth of 18.2% from the preceding year’s actual.
Factors That Augur Well for EFX’s SuccessSustained Top-Line Momentum: EFX’s top line saw a compounded annual growth rate (CAGR) of 4.3% over the last five years (2021-2025). Such momentum is anticipated to endure over the long term, driven by synergies from acquisitions, continued general consumer credit activity, product innovation, initiatives to foster enterprise growth and efficient business execution.
Data-Driven Insights: Equifax’s offerings are vital to its customers as they leverage credit information and related analytical services and data to process applications for new credit cards, automobile loans, home and equity loans, and other consumer loans.
The company uses advanced statistical methods and proprietary tools to analyze all available data, delivering customized insights, decision-making solutions and processing services. This helps customers understand, manage and protect their clients’ information and make more informed financial decisions.
Diverse Customer Base: Equifax works with a diverse clientele, offering services to a diverse array of industries, including finance, mortgage, consumer, employee, telecommunications, automotive, commercial, retail, government and resellers. This massive client base is highly advantageous as it reduces risks in one sector by capitalizing on strengths in others.
EFX's strategic focus remains centered on expanding and solidifying its customer base by actively delivering multi-data solutions, which involves expanding its unique data assets and enhancing its analytics capabilities.
Risks Faced by EquifaxSeasonality Risks: EFX’s revenues from the Employer Services business unit within the company’s Workforce Solutions segment are lower in the second, third and fourth quarters compared with the first quarter. Therefore, this seasonality makes it difficult for the company to project its prospects. We expect year-over-year comparisons to be meaningful for this company, given seasonal fluctuations.
Weak Liquidity Profile: Equifax's current ratio (a measure of liquidity) at the end of the second quarter of 2026 was 0.60, lower than the preceding quarter's 0.77. It stands lower than the industry's 1.04 as well. A current ratio of less than 1 does not bode well with investors, as it suggests that the company may have problems paying off its short-term obligations.
Image Source: Zacks Investment Research
EFX’s Zacks Rank & Stocks to ConsiderThe company has a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks from the broader Zacks Business Services sector are Gartner (IT - Free Report) and Coursera (COUR - Free Report) , currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Gartner has a long-term earnings growth expectation of 21%. IT delivered a trailing four-quarter earnings surprise of 13.5%, on average.
Coursera has a long-term earnings growth expectation of 49.6%. COUR delivered a trailing four-quarter earnings surprise of 10.9%, on average.
Credit Card and Auto Debt Balance Growth Outpaces Student Loans Amid Broad Delinquency Relief
Highlights:
Total U.S. consumer debt reached $18.25 trillion in Q2 2026, reflecting a 2.1% year-over-year increase primarily driven by mortgage and revolving bankcard debt. Delinquency rates showed broad improvement across automotive, bankcard, and mortgage sectors, suggesting a significant stabilization trend in consumer portfolios. , /PRNewswire/ -- Equifax® (NYSE: EFX) has released its Market Pulse Second Quarter U.S. Consumer Credit Trends, which includes U.S. national consumer credit data and trends through June 2026 sourced from Equifax proprietary data. While consumer debt balances reached $18.25 trillion in June, driven by increases in mortgage and revolving consumer bank card debt, the data signaled a stabilization period for consumers with only a 0.32% increase from the first quarter of 2026. The data also highlights a consistent improvement in delinquencies in all categories.
Through June 2026, total U.S. consumer debt is $18.25 trillion, up 2.1% from over a year ago.
Through June 2026, U.S. consumer non-mortgage debt remains primarily driven by auto loans and student loans though credit cards’ share continues to rise. Continued Annual Debt Growth Driven by Mortgage and Revolving Card Debt
Total U.S. consumer debt climbed to $18.25 trillion by the end of Q2 2026, a 2.1% year-over-year increase, which represented a growth of nearly $400 billion in a 12-month span. This expansion was primarily driven by mortgage debt, which accounted for roughly 74% of all consumer debt, as first mortgage and HELOC balances were up 1.9% and 12.5% year-over-year.
"We are witnessing a period where top-line consumer data suggests retail and mortgage credit is stabilizing," said Emmaline Aliff, Advisory Leader at Equifax. "Total consumer debt only increased slightly in the second quarter of 2026, heavily anchored by first mortgages and a renewed reliance on credit cards. Although consumers accumulated seasonal credit card debt last November and December and paid the balances down in the first quarter, they took on more debt in the second quarter, though mortgage debt remains the majority of total consumer debt obligations."
Structural Shifts in Non-Mortgage Portfolios as Auto and Card Balances Stand to Eclipse Student Loan Debt
While auto loans, student loans, and bankcards continue to dominate roughly 90% of all non-mortgage debt, the composition of this debt has fundamentally shifted over the last three years. Bankcard debt, which was around $1.02 trillion in June 2024, and has grown by 8.2% to land at $1.1 trillion in the second quarter of 2026. This growth outpaces inflation over this same time period, which was about 6.5%.
"Historically, total student loan debt balances were consistently higher than auto debt and almost twice as much as bankcard debt," said Aliff. "The changing proportions of the non-mortgage categories reflect a macro shift, where student loan stabilization is being offset by further reliance on credit to manage the budgetary pressures of rising household and vehicle costs."
Delinquencies Broadly Stabilized Across Consumer Portfolios as Mortgage Delinquencies Improve from May
Delinquency rates across automotive, bankcard, and unsecured personal loan portfolios all registered measurable downward trajectories on both a month-over-month and year-over-year basis. This broader stabilization also extended to the mortgage sector. Though first mortgage 90+ days past due (DPD) delinquencies rose 40.6% year-over-year from historic mid-2025 lows, they have improved, dropping 3.6% since May 2026, and suggesting a normalization of delinquencies and alleviation of pressure for some homeowners.
Month-Over-Month and Year-Over-Year Results
Total Consumer Debt Balances
Month
Total Consumer Debt
($T)
MoM Change (%)
YoY Change (%)
April 2026
$18.22
0.2 %
2.8 %
May 2026
$18.23
+0.0 %
2.4 %
June 2026
$18.25
0.1 %
2.1 %
First Mortgage Balances
Month
First Mortgage Balances
($B)
MoM Change (%)
YoY Change (%)
April 2026
$12,875
0.1 %
2.6 %
May 2026
$12,865
-0.1 %
2.2 %
June 2026
$12,845
-0.2 %
1.9 %
Home Equity Lines of Credit (HELOC) Balances
Month
HELOC Balances ($B)
MoM Change (%)
YoY Change (%)
April 2026
$435.1
0.9 %
13.0 %
May 2026
$440.4
1.2 %
12.7 %
June 2026
$444.8
1.0 %
12.5 %
Auto Loan Balances
Month
Auto Loan Balances ($B)
MoM Change (%)
YoY Change (%)
April 2026
$1,605
0.4 %
2.0 %
May 2026
$1,615
0.6 %
2.3 %
June 2026
$1,626
0.7 %
2.8 %
Bankcard Balances
Month
Bankcard Balances ($B)
MoM Change %
YoY Change (%)
April 2026
$1,092.2
0.6 %
3.7 %
May 2026
$1,095.8
0.3 %
3.7 %
June 2026
$1,108.5
1.2 %
3.9 %
Student Loans Balances
Month
Student Loan Debt ($B)
MoM Change %
YoY Change (%)
April 2026
$1,298
-0.3 %
-0.9 %
May 2026
$1,292
-0.4 %
–2.0%
June 2026
$1,287
-0.4 %
-3.1 %
Equifax has been tracking U.S. National Consumer Credit Trends for more than 20 years. Monthly reports can be found on Equifax.com. These reports track originations, balances and delinquencies on U.S. consumer mortgages, auto loans and leases, student loans, bankcards and private label credit cards, and personal loans. To explore Equifax tools that deliver U.S. National Consumer Credit Trends data and key market metrics click here.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
FOR MORE INFORMATION:
Tiffany Smith for Equifax
[email protected]
On August 07, 2026, Equifax Inc (EFX) shares rose 3.9% to $182.56, showing some positive movement within a challenging year. The stock has fluctuated between a
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Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
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Stock to Watch: Equifax (EFX - Free Report) Equifax Inc. is a global data, analytics and technology company. It provides information solutions and human resources business process outsourcing services for businesses, governments and consumers. Its services are based on comprehensive databases of consumer and business information derived from numerous sources, including credit, financial assets, telecommunications and utility payments, employment, income, demographic and marketing data.
EFX is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 20.54; value investors should take notice.
Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.00 to $8.56 per share. EFX also boasts an average earnings surprise of +5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, EFX should be on investors' short list.
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TORONTO, Aug. 06, 2026 (GLOBE NEWSWIRE) -- A recent Equifax Canada survey* of over 1,500 Canadians revealed that nearly one in four Canadians say they expect to make only minimum monthly credit card payments, which may indicate increased pressure on household finances.
The survey found that 25 per cent of respondents expect they will only be able to afford minimum monthly payments on their credit cards, while another seven per cent believe they are likely to fall behind. Fifty-six per cent expect to pay their balances in full each month.
The findings come as 40 per cent report spending more overall than they were a year ago; more than twice the 18 per cent who are spending less.
“The results point to mounting financial pressure for many households,” said Rebecca Oakes, Vice-President of Advanced Analytics at Equifax Canada. “The survey indicates that a significant percentage of Canadians surveyed (29 per cent) are using credit and savings to manage everyday expenses, while 35 per cent are cutting back on contributions to save for their future and expecting to make only minimum credit card payments. When these pressures begin to overlap, households can lose financial flexibility quickly.”
As an essential partner in Canada's financial ecosystem, Equifax delivers data-driven insights into these emerging trends, enabling lenders to engage with borrowers more confidently to help them navigate changing economic conditions.
Everyday costs are eroding savings and future planning
The survey suggests financial impact may be moving beyond discretionary cutbacks and increasingly affecting the ability to cover essential expenses, preserve savings and plan for the future. Of those surveyed:
29 per cent are using more credit than a year ago to pay for groceries, utilities and other essential living expenses.23 per cent are drawing on savings to cover day-to-day costs.20 per cent say they are relying more on credit cards and lines of credit.35 per cent have reduced contributions to savings, investments or education funds.32 per cent have reduced spending on essential living expenses, including groceries and utilities.44 per cent worry they are not saving enough for retirement.41 per cent are concerned about unforeseen emergency expenses. Pulling back on spending and savings
Spending is also being pulled back in discretionary areas. Of those surveyed, 67 per cent have reduced entertainment and leisure expenses, while 40 per cent have cut spending on personal care.
The survey data indicates that everchanging economic conditions are contributing to more cautious borrowing behaviour, with 60 per cent of those surveyed actively avoiding taking on new debt. At the same time, 13 per cent say they are borrowing more to cover their basic living expenses, while only eight per cent are opening new credit cards or taking on new loans.
Financial confidence has also weakened with 29 per cent feeling less confident in their ability to manage financial demands than they did a year ago, while 23 per cent say they feel more confident. Nearly half, 47 per cent, report feeling about the same.
“Financial pressure often builds gradually, and making only the minimum payment can sometimes feel like a way to manage through a difficult month,” said Julie Kuzmic, Head of Consumer Advocacy and Compliance at Equifax Canada. “However, balances can take much longer to repay and cost considerably more in interest. Anyone seeing their balances continually rise with little hope at repayment should review payment obligations, prioritize due dates and explore options with their lenders or a reputable credit counsellor before their financial situation limits their options.”
Families and Canadians under 55 facing greater pressure
Households with children are facing greater pressure with 51 per cent of those surveyed indicating that they are spending more than they did a year ago, while in comparison, 35 per cent of those without children say they are spending more than they did a year ago.
Those with children are also:
More likely to be using more credit than last year to pay for essential living expenses, at 42 per cent compared with 24 per cent of those without children.More likely to expect they will only be able to make minimum monthly credit card payments (33 per cent).More likely to be concerned about supporting family members, including children’s education or aging parents, at 45 per cent compared with 18 per cent for those without children. Of those surveyed, respondents under age 55 are also showing greater signs of pressure than older respondents. Thirty-six per cent of those surveyed under 55 say they are using more credit for essential expenses than they were a year ago, which is double the 18 per cent recorded among Canadians aged 55 and older.
Among those surveyed under 55 years old:
42 per cent are spending more overall than a year ago, compared with 36 per cent of those aged 55 and older.31 per cent expect they may only be able to make minimum monthly credit card payments, compared with 16 per cent of those aged 55 and older.22 per cent are struggling to pay down debt because of high housing or mortgage costs, compared with 11 per cent of older respondents. Only 47 per cent of Canadians under 55 expect to pay their credit card balance in full each month, compared with 69 per cent of those aged 55 and older.
Equifax Canada offers data and unparallelled insights that empower Canada’s financial ecosystem to move Canadians and the Canadian economy forward. To learn more about credit scores and resources to help Canadians improve their financial resilience, we encourage consumers to visit the Equifax Canada Education Hub.
* Equifax surveyed 1,532 Canadians ages 18-65, July 17-19, 2026 using Leger’s online panel. A probability sample of the same size would yield a margin of error of +/- 2.5 per cent, 19 times out of 20.
About Equifax
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.
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Contact:
Andrew Findlater
SELECT Public Relations [email protected]
(647) 444-1197
Edgestream Partners L.P. boosted its stake in shares of Equifax, Inc. (NYSE:EFX – Free Report) by 130.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,445 shares of the credit services provider’s stock after buying an additional 7,044 shares during the quarter. Edgestream Partners L.P.’s holdings in Equifax were worth $2,241,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in shares of Equifax by 49.2% during the 4th quarter. Brighton Jones LLC now owns 3,638 shares of the credit services provider’s stock valued at $927,000 after acquiring an additional 1,200 shares during the period. Great Lakes Advisors LLC bought a new stake in shares of Equifax in the 1st quarter worth approximately $204,000. Empowered Funds LLC lifted its stake in Equifax by 14.6% in the first quarter. Empowered Funds LLC now owns 2,523 shares of the credit services provider’s stock valued at $615,000 after purchasing an additional 321 shares during the last quarter. First Trust Advisors LP lifted its stake in Equifax by 14.5% in the second quarter. First Trust Advisors LP now owns 7,632 shares of the credit services provider’s stock valued at $1,979,000 after purchasing an additional 966 shares during the last quarter. Finally, AXA S.A. grew its holdings in Equifax by 699.9% during the second quarter. AXA S.A. now owns 8,671 shares of the credit services provider’s stock valued at $2,249,000 after purchasing an additional 7,587 shares during the period. Hedge funds and other institutional investors own 96.20% of the company’s stock.
Analysts Set New Price Targets Several brokerages have issued reports on EFX. Barclays lowered their target price on Equifax from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. UBS Group reissued a “buy” rating and issued a $220.00 price objective on shares of Equifax in a report on Wednesday, July 8th. BNP Paribas Exane lowered their price objective on Equifax from $195.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $182.00 price objective on shares of Equifax in a report on Tuesday, July 21st. Finally, Needham & Company LLC reduced their target price on shares of Equifax from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Thirteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.79.
Check Out Our Latest Stock Analysis on EFX
Insider Buying and Selling In related news, CEO Mark W. Begor sold 37,791 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $172.16, for a total transaction of $6,506,098.56. Following the sale, the chief executive officer owned 271,890 shares of the company’s stock, valued at approximately $46,808,582.40. This represents a 12.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Chad M. Borton sold 2,455 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $173.89, for a total transaction of $426,899.95. Following the completion of the sale, the executive vice president owned 29,518 shares in the company, valued at $5,132,885.02. This represents a 7.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by company insiders.
Equifax Price Performance Shares of NYSE EFX opened at $173.04 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.60 and a current ratio of 0.60. Equifax, Inc. has a fifty-two week low of $150.74 and a fifty-two week high of $271.84. The stock has a market cap of $20.33 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.39 and a beta of 1.30. The stock has a fifty day moving average of $167.68 and a 200-day moving average of $181.05.
Equifax (NYSE:EFX – Get Free Report) last issued its earnings results on Tuesday, July 21st. The credit services provider reported $2.25 EPS for the quarter, topping the consensus estimate of $2.20 by $0.05. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. Equifax had a return on equity of 21.61% and a net margin of 10.73%.The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.00 EPS. Equifax has set its Q3 2026 guidance at 2.150-2.250 EPS and its FY 2026 guidance at 8.390-8.690 EPS. Equities research analysts anticipate that Equifax, Inc. will post 8.55 earnings per share for the current year.
Equifax Announces Dividend The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 22nd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, May 22nd. Equifax’s dividend payout ratio is presently 39.37%.
About Equifax (Free Report)
Equifax Inc (NYSE: EFX) is a global data, analytics and technology company that specializes in consumer and commercial credit reporting, decisioning tools and identity solutions. Headquartered in Atlanta, Georgia, Equifax is one of the three major consumer credit reporting agencies in the United States and provides credit information and related services to lenders, employers, governments and consumers worldwide.
The company’s offerings include consumer credit reports and scores, credit monitoring and identity protection services, and a range of business-oriented products for risk management, fraud detection and compliance.
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Key Takeaways Equifax doubled its 2026-2028 AI savings target to $150 million to drive productivity and margin gains.EFX mortgage revenue rose 40% as VantageScore reached 1,300 lenders and 2.2 million Q2 transactions.Equifax plans a $750 million Crculo deal as international margins improve and growth broadens beyond the U.S. Equifax Inc. (EFX - Free Report) is leaning on artificial intelligence, mortgage scoring adoption, international expansion and new products to extend its growth profile.
The trends are visible in recent revenue gains. Its investment value still depends on whether Equifax can turn innovation and demand into margin expansion, disciplined acquisitions and durable earnings growth.
Equifax Expands AI-Driven Efficiency GoalsEquifax doubled its 2026-2028 AI-driven cost and capital savings target to $150 million, making artificial intelligence a broader productivity tool rather than just a product feature.
Management is applying AI and agentic solutions across product development, technology, operations and support functions, including human resources, legal and finance. The goal is to improve speed, accuracy and productivity while supporting margin expansion. Technology and operations represent about 60% of gross labor spending, giving the program a meaningful operating base.
EFX Mortgage Growth Signals Product AdoptionU.S. Information Solutions, or USIS, delivered 17% revenue growth in the second quarter, helped by a 40% increase in mortgage revenues. The gains reflect product adoption as well as a mortgage market that provided enough activity for Equifax’s scoring and data offerings to show leverage.
VantageScore adoption is an important part of that story. By July 2026, about 1,300 mortgage lenders were using the product, and second-quarter VantageScore transactions reached about 2.2 million, nearly triple the first-quarter level. TransUnion (TRU - Free Report) also competes in credit data and analytics, making lender adoption a key industry battleground.
Equifax Targets Mexico Through a Major AcquisitionEquifax signed an agreement to acquire Círculo de Crédito for an enterprise value of $750 million. The deal would expand Equifax’s international footprint in Mexico and fit its bolt-on acquisition strategy.
Círculo generated approximately $134 million in trailing revenues through June 30, 2026, up 31%, with an adjusted EBITDA margin of roughly 46%. Management expects the transaction to be accretive to adjusted earnings per share in the first year. Experian plc (EXPGY - Free Report) , another global information services company, offers peer context because international data and analytics scale remain central to the sector’s growth narrative.
EFX International Margins Show Operating LeverageInternational revenues rose 8% on a reported basis in the second quarter and 4% in local currency. Asia Pacific was the standout, with 17% reported revenue growth and 7% local-currency growth, while Latin America rose 9% on a reported basis and 3% in local currency.
The margin trend was more encouraging than the headline growth rate alone. International operating margin improved to 12.1% from 10.9%, and adjusted EBITDA margin expanded to 27.6% from 26.4%. That 120-basis-point improvement contrasted with margin pressure in Workforce Solutions and USIS, showing better incremental leverage outside the U.S. segments.
Equifax Scores Temper the Emerging Growth StoryThe emerging growth story is credible, but it is not yet an all-clear investment signal. AI savings, VantageScore adoption, new-product activity and the Círculo acquisition give Equifax multiple paths to faster revenue growth, but execution risk remains tied to integration, capital demands and margin delivery.
The stock currently carries a Zacks Rank #3 (Hold), which points to a neutral near-term earnings-revision picture. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Its Growth Score of B supports the expansion thesis, while a VGM Score of C suggests the overall blend of value, growth and momentum is not especially strong.
The Momentum Score of F is the main restraint. Zacks Style Scores are designed to complement the Zacks Rank, and stronger scores generally indicate better alignment with a given investment style. For EFX, the profile favors patient investors who are comfortable waiting for technology initiatives and mortgage adoption to translate into steadier market confirmation.
Key Takeaways Equifax revenue rose 10.6% and adjusted earnings increased 12.5% in the second quarter.EFX trades near its price target, while its forward P/E remains above the sub-industry multiple.Strong cash flow and shareholder returns offset liquidity, leverage and acquisition-related risks. Equifax Inc. (EFX - Free Report) has fallen 22.7% in the past year, raising a fair question for investors: has the drop created value, or is the market still pricing in real risk?
The answer looks mixed. Equifax is still delivering revenue and adjusted earnings growth, but valuation, estimate revisions and momentum signals do not yet make the stock an obvious bargain. TransUnion (TRU - Free Report) and Experian PLC (EXPGY - Free Report) remain relevant peers for investors comparing credit-data and analytics exposure.
EFX Revenue and Earnings Growth Remain Strong
Equifax reported second-quarter 2026 revenues of $1.70 billion, up 10.6% year over year. Adjusted earnings were $2.25 per share, up 12.5%, with both metrics modestly ahead of consensus expectations.
The growth was not narrow. U.S. Information Solutions revenue rose 17%, helped by 40% mortgage revenue growth and better diversified-market trends. Workforce Solutions gained 7%, with verification services also up 7% on strength in Talent Solutions and Consumer Lending.
Management kept its full-year revenue guidance at $6.71 billion to $6.78 billion. That points to reported revenue growth of 10.5-11.6% for 2026, supported by mortgage services, verification offerings and new products.
Equifax Valuation Offers Limited Upside
The valuation case is less clear. At $187.89, EFX trades not far below the $196 price target, leaving only modest potential appreciation implied by that target.
The stock’s forward price-to-earnings ratio is about 19.8X. That is above the sub-industry multiple, limiting the argument that the shares are cheap after the sell-off.
The multiple is also below Equifax’s five-year median, giving long-term investors some valuation support. The result is a mixed setup rather than a clear discount.
TransUnion competes in consumer credit reporting and related analytics, making it a useful reference point for investors weighing whether weakness in EFX is company-specific or part of a broader credit-data valuation reset.
EFX Estimate Trends and Momentum Stay Mixed
Estimate trends have not fully backed the recovery argument. The Zacks Consensus Estimate for fiscal-year earnings has moved slightly lower over the past one, four and 12 weeks.
That matters because estimate revisions are central to the near-term stock setup. A falling estimate path can keep investors cautious, even when quarterly revenue and adjusted earnings growth remain positive.
Share-price momentum sends a conflicting message. EFX has posted stronger four-week and 12-week performances, suggesting buyers have stepped in recently.
Still, the 52-week return remains sharply negative, and the Momentum Score of F signals weak momentum characteristics. That makes the rebound look incomplete.
Equifax Cash Flow Helps Offset Balance Sheet Risk
Cash generation remains a meaningful offset. Management expects more than $1 billion of free cash flow in 2026 and cash conversion above 100%, which should support investment, dividends and share repurchases.
Equifax returned $366 million to shareholders in the second quarter, including $300 million of repurchases and $66 million of dividends. That shows management is still allocating capital to shareholders while funding growth initiatives.
Balance sheet risk should not be dismissed. The current ratio of 0.60 indicates limited short-term liquidity coverage, while the debt-to-equity ratio of 0.92 points to meaningful leverage.
The planned acquisition of Círculo de Crédito for an enterprise value of $750 million could add strategic reach in Mexico, but it also raises future capital demands. Experian’s global credit-data footprint gives investors another comparison point when judging Equifax’s international growth ambitions.
EFX Scores Support a Cautious Investment View
The bottom line is that EFX looks more like a patient-investor candidate than a clear buying opportunity after its one-year decline. Growth is intact, but upside to the price target is limited and the estimate-revision backdrop is not decisively positive.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
That points to a neutral near-term earnings-revision setup rather than a strong positive or negative signal.
Equifax has a Value Score of B and a Growth Score of B, which are constructive for investors focused on valuation and growth quality. Its VGM Score of C is more balanced, while the Momentum Score of F weakens the overall profile.
For investors already comfortable with Equifax’s business quality and cash-flow outlook, the decline may justify a closer look. For new buyers, the stock still lacks a strong all-around signal.
Additional Findings Underscore AI's Emergence as Both an Operational Advantage and a Source of New Challenges for HR Teams
, /PRNewswire/ -- Equifax® (NYSE: EFX) today announced the results of the company's latest HR Trends Survey, finding that employers are increasingly challenged to distinguish between genuine qualifications and embellished information received from job applicants. Based on responses from more than 350 HR executives and professionals at the SHRM 2026 Annual Conference, the findings reveal that nearly three-quarters (73%) of respondents say they encounter challenges with fabricated or misleading candidate information, with half (50%) of respondents citing challenges with employment history. The findings also demonstrate that artificial intelligence is helping HR teams work more efficiently but also making hiring more complex.
Responses from more than 350 HR executives and professionals at the SHRM 2026 Annual Conference reveal that nearly three-quarters (73%) of respondents say they encounter challenges with fabricated or misleading candidate information. The survey shows that more than one-third (36%) of respondents say AI-generated candidate content has reduced their confidence in hiring decisions, though nearly eight in 10 (78%) report AI is improving hiring and onboarding efficiency. As HR leaders work to improve employee experience, modernize workforce operations and navigate evolving candidate expectations, the findings suggest AI is becoming a catalyst for greater operational efficiency while reinforcing the need for HR professionals to balance AI's efficiency gains with transparency, compliance and human judgment.
"Even in these early stages, HR is seeing meaningful efficiency gains from investments in AI," said Chris Johnson, Senior Vice President and General Manager of Employer Services at Equifax Workforce Solutions. "The next phase of opportunity will come from optimizing the use of trusted, high-quality data to help spot candidate AI-created content. That combination helps HR leaders make more informed decisions, strengthen confidence in the hiring process and create more time to focus on the employee experience."
The survey also found that improving employee experience and engagement remains HR's top workforce management challenge. Nearly two-thirds (63%) of survey respondents cited employee experience as a top challenge, widening its lead since last year's survey over attracting and retaining talent (45%). The findings suggest organizations are placing more emphasis on supporting and engaging existing employees rather than focusing primarily on recruitment. AI is supporting this effort by reducing administrative burdens and allowing HR teams to spend more time on employee engagement, retention and workforce development.
Confidence in detecting fabricated candidate information is improving
In addition to the half of respondents who cited employment history as the most frequent area of candidate misrepresentation, more than one-third (35%) have also reported encountering fabricated or misleading candidate-provided information related to education, credentials or licenses, reinforcing the importance of data-driven verification processes.
At the same time, nearly seven in 10 (69%) respondents said they are confident in their organization's ability to detect fabricated or misleading candidate information, up from 63% last year. However, only one in four (24%) said they are "very confident," suggesting employers must continue adapting their verification strategies as AI and other technologies make candidate information more difficult to validate.
"In a complex hiring market, the smartest approach is simple: trust but verify," said Bart Lautenbach, Senior Vice President and General Manager of Talent Solutions for Equifax Workforce Solutions. "As AI-generated candidate content becomes more sophisticated, organizations need verification strategies that keep pace. Reliable, more comprehensive employment, education, identity and licensing data can help employers make more confident hiring decisions."
Compliance remains an "always-on" priority
The share of HR professionals who cited maintaining compliance with laws and regulations as a workforce management challenge increased from 23% in 2025 to 27% in 2026. The findings suggest compliance has become an "always-on" priority as organizations adopt AI and other emerging technologies. Increasingly, HR leaders are focused on ensuring innovation is grounded in the governance and controls needed to use it responsibly.
"Today's HR leaders are managing an ever-changing, high-stakes compliance landscape," added Johnson. "Those who lead the way are deploying technology to help automate everyday tasks while using trusted data and insights to more confidently make the decisions that will help shape the future of work."
Methodology
The second annual HR Trends Survey from Equifax was conducted at the SHRM 2026 Annual Conference in Orlando, Florida, from June 16–18, 2026, to better understand how HR professionals are navigating workforce management, hiring fraud and AI adoption. A total of 353 HR professionals participated in the survey. Vendors and students were excluded from the final results.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. For more information, visit Equifax.com.
FOR MORE INFORMATION:
Dan Jenkins for Equifax
[email protected]
Have you looked into how Equifax (EFX - Free Report) performed internationally during the quarter ending June 2026? Considering the widespread global presence of this credit reporting company, examining the trends in international revenues is essential for assessing its financial resilience and prospects for growth.
The global economy today is deeply interlinked, making a company's engagement with international markets a critical factor in determining its financial success and growth path. It has become essential for investors to comprehend how much a company relies on these foreign markets, as this understanding reveals the firm's potential for consistent earnings, its capacity to harness different economic cycles, and its overall growth prospects.
Presence in international markets can act as a hedge against domestic economic downturns and provide access to faster-growing economies. However, this diversification also brings complexities due to currency fluctuations, geopolitical risks and differing market dynamics.
In our recent assessment of EFX's quarterly performance, we discovered notable trends in its overseas revenue sections, which are typically modeled and scrutinized by Wall Street analysts.
The company's total revenue for the quarter amounted to $1.7 billion, marking an increase of 10.6% from the year-ago quarter. We will next turn our attention to dissecting EFX's international revenue to get a clearer picture of how significant its operations are outside its main base.
Decoding EFX's International Revenue TrendsDuring the quarter, Canada contributed $73.3 million in revenue, making up 4.3% of the total revenue. When compared to the consensus estimate of $72.85 million, this meant a surprise of +0.62%. Looking back, Canada contributed $70.9 million, or 4.3%, in the previous quarter, and $69.3 million, or 4.5%, in the same quarter of the previous year.
Europe generated $101.1 million in revenues for the company in the last quarter, constituting 6% of the total. This represented a surprise of -3.75% compared to the $105.04 million projected by Wall Street analysts. Comparatively, in the previous quarter, Europe accounted for $94 million (5.7%), and in the year-ago quarter, it contributed $99.2 million (6.5%) to the total revenue.
Asia Pacific accounted for 5.9% of the company's total revenue during the quarter, translating to $99.7 million. Revenues from this region represented a surprise of +7.15%, with Wall Street analysts collectively expecting $93.05 million. When compared to the preceding quarter and the same quarter in the previous year, Asia Pacific contributed $92.6 million (5.6%) and $85.3 million (5.6%) to the total revenue, respectively.
Of the total revenue, $109 million came from Latin America during the last fiscal quarter, accounting for 6.4%. This represented a surprise of -0.24% as analysts had expected the region to contribute $109.26 million to the total revenue. In comparison, the region contributed $102.7 million, or 6.2%, and $99.6 million, or 6.5%, to total revenue in the previous and year-ago quarters, respectively.
International Market Revenue ProjectionsIt is projected by analysts on Wall Street that Equifax will post revenues of $1.7 billion for the ongoing fiscal quarter, an increase of 9.9% from the year-ago quarter. The expected contributions from Canada, Europe, Asia Pacific and Latin America to this revenue are 4.3%, 6.3%, 5.7%, and 6.6%, translating into $73.4 million, $107.46 million, $97.31 million, and $111.72 million, respectively.
For the full year, the company is projected to achieve a total revenue of $6.73 billion, which signifies a rise of 10.8% from the last year. The share of this revenue from various regions is expected to be: Canada at 4.3% ($286.4 million), Europe at 6.3% ($422.34 million), Asia Pacific at 5.6% ($373.26 million), and Latin America at 6.6% ($441.18 million).
Closing RemarksRelying on international markets for revenues, Equifax faces both prospects and perils. Thus, tracking the company's international revenue trends is essential for accurately projecting its future trajectory.
In an environment where global interconnections and geopolitical skirmishes are intensifying, Wall Street analysts keep a keen eye on these trends, particularly for firms with overseas operations, to adjust their earnings predictions. Moreover, a range of other aspects, including how a company fares in its home country, significantly affects these projections.
At Zacks, we place significant importance on a company's evolving earnings outlook. This is based on empirical evidence demonstrating its strong influence on a stock's short-term price movements. Invariably, there exists a positive relationship -- an upward revision in earnings estimates is typically mirrored by a rise in the stock price.
With an impressive externally audited track record, our proprietary stock rating tool - the Zacks Rank - harnesses the power of earnings estimate revisions and serves as an effective indicator of a stock's near-term price performance.
Currently, Equifax holds a Zacks Rank #3 (Hold), signifying its potential to match the overall market's performance in the forthcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
A Review of Equifax's Recent Stock Market PerformanceThe stock has increased by 8.9% over the past month compared to the 0.8% increase of the Zacks S&P 500 composite. Meanwhile, the Zacks Business Services sector, which includes Equifax,has increased 3.1% during this time frame. Over the past three months, the company's shares have experienced a loss of 0.8% relative to the S&P 500's 3.8% increase. Throughout this period, the sector overall has witnessed a 2.3% increase.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Bradley Foster & Sargent Inc. CT grew its stake in Equifax, Inc. (NYSE:EFX – Free Report) by 400.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,143 shares of the credit services provider’s stock after acquiring an additional 10,519 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Equifax were worth $2,367,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new position in Equifax during the 4th quarter valued at about $25,000. Ameriflex Group Inc. increased its stake in Equifax by 612.5% during the fourth quarter. Ameriflex Group Inc. now owns 114 shares of the credit services provider’s stock worth $25,000 after purchasing an additional 98 shares during the period. Reflection Asset Management purchased a new stake in Equifax during the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Equifax during the fourth quarter worth about $26,000. Finally, Lodestone Wealth Management LLC purchased a new position in shares of Equifax in the fourth quarter valued at approximately $29,000. 96.20% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades A number of research analysts recently weighed in on EFX shares. Weiss Ratings upgraded shares of Equifax from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft set a $208.00 target price on shares of Equifax in a report on Wednesday. Rothschild & Co Redburn dropped their price target on shares of Equifax from $226.00 to $214.00 in a research note on Friday, May 8th. Barclays cut their price objective on Equifax from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley reduced their price objective on Equifax from $243.00 to $225.00 and set an “overweight” rating on the stock in a research note on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.79.
Get Our Latest Report on Equifax
Insider Activity at Equifax In other news, EVP Chad M. Borton sold 2,455 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $173.89, for a total value of $426,899.95. Following the transaction, the executive vice president owned 29,518 shares in the company, valued at approximately $5,132,885.02. This represents a 7.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.70% of the company’s stock.
Equifax Trading Down 0.3% NYSE EFX opened at $172.08 on Monday. Equifax, Inc. has a 52 week low of $150.74 and a 52 week high of $271.84. The firm has a 50 day moving average of $165.98 and a two-hundred day moving average of $182.39. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $20.22 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 1.39 and a beta of 1.32.
Equifax (NYSE:EFX – Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The credit services provider reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.70 billion. Equifax had a net margin of 10.73% and a return on equity of 21.61%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $2.00 EPS. Equifax has set its Q3 2026 guidance at 2.150-2.250 EPS and its FY 2026 guidance at 8.390-8.690 EPS. As a group, research analysts expect that Equifax, Inc. will post 8.55 EPS for the current fiscal year.
Equifax Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 22nd were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, May 22nd. Equifax’s dividend payout ratio is currently 39.37%.
Equifax Company Profile (Free Report)
Equifax Inc (NYSE: EFX) is a global data, analytics and technology company that specializes in consumer and commercial credit reporting, decisioning tools and identity solutions. Headquartered in Atlanta, Georgia, Equifax is one of the three major consumer credit reporting agencies in the United States and provides credit information and related services to lenders, employers, governments and consumers worldwide.
The company’s offerings include consumer credit reports and scores, credit monitoring and identity protection services, and a range of business-oriented products for risk management, fraud detection and compliance.
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Stock to Watch: Equifax (EFX - Free Report) Equifax Inc. is a global data, analytics and technology company. It provides information solutions and human resources business process outsourcing services for businesses, governments and consumers. Its services are based on comprehensive databases of consumer and business information derived from numerous sources, including credit, financial assets, telecommunications and utility payments, employment, income, demographic and marketing data.
EFX is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. EFX has a Growth Style Score of B, forecasting year-over-year earnings growth of 11.9% for the current fiscal year.
Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.00 to $8.56 per share. EFX also boasts an average earnings surprise of +5%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, EFX should be on investors' short list.
Adjusted earnings were $2.25 per share, topping the analyst consensus estimate of $2.20. Revenue rose 11% year over year to $1.70 billion, ahead of the $1.696 billion consensus estimate. On a local currency basis, revenue increased 10%.
Equifax narrowed its full-year adjusted EPS guidance to $8.39 to $8.69 from a previous range of $8.34 to $8.74. The midpoint remains in line with the analyst consensus estimate of $8.60.
The company also tightened its full-year revenue outlook to $6.71 billion-$6.78 billion from $6.685 billion-$6.805 billion. The midpoint is broadly in line with the consensus estimate of $6.764 billion.
For the third quarter, Equifax forecast adjusted EPS of $2.15 to $2.25, below the analyst estimate of $2.26. It expects revenue of $1.68 billion to $1.71 billion, compared with the consensus estimate of $1.711 billion.
Equifax shares fell 2.5% to trade at $168.72 on Wednesday.
These analysts made changes to their price targets on Equifax following earnings announcement.
Needham analyst Kyle Peterson maintained the stock with a Buy and lowered the price target from $265 to $245. Barclays analyst Manav Patnaik maintained the stock with an Equal-Weight rating and cut the price target from $215 to $200. RBC Capital analyst Ashish Sabadra maintained the stock with an Outperform rating and lowered the price target from $222 to $194. Considering buying EFX stock? Here’s what analysts think:
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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
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What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
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Stock to Watch: Equifax (EFX - Free Report) Equifax Inc. is a global data, analytics and technology company. It provides information solutions and human resources business process outsourcing services for businesses, governments and consumers. Its services are based on comprehensive databases of consumer and business information derived from numerous sources, including credit, financial assets, telecommunications and utility payments, employment, income, demographic and marketing data.
EFX is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 20.22; value investors should take notice.
For fiscal 2026, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.00 to $8.56 per share. EFX boasts an average earnings surprise of +5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, EFX should be on investors' short list.
California Public Employees Retirement System decreased its position in shares of Equifax, Inc. (NYSE:EFX – Free Report) by 26.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,205 shares of the credit services provider’s stock after selling 56,857 shares during the period. California Public Employees Retirement System owned 0.13% of Equifax worth $28,848,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of EFX. Cullen Frost Bankers Inc. bought a new stake in Equifax during the 4th quarter valued at approximately $25,000. Ameriflex Group Inc. increased its position in Equifax by 612.5% in the 4th quarter. Ameriflex Group Inc. now owns 114 shares of the credit services provider’s stock worth $25,000 after buying an additional 98 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Equifax during the fourth quarter worth approximately $26,000. Reflection Asset Management acquired a new position in shares of Equifax during the fourth quarter worth approximately $26,000. Finally, State of Wyoming bought a new stake in shares of Equifax in the second quarter valued at approximately $34,000. 96.20% of the stock is currently owned by institutional investors.
Key Stories Impacting Equifax Here are the key news stories impacting Equifax this week:
Positive Sentiment: Equifax posted Q2 2026 EPS of $2.25, topping estimates, while revenue of $1.70 billion rose 11% year over year and matched Wall Street expectations. The company also highlighted strength in USIS, mortgage, and verification businesses, and announced an agreement to acquire Círculo de Crédito, which could expand its credit data footprint. Article Title Positive Sentiment: Management said early AI and agentic-automation gains are helping drive efficiency, and it doubled its expected three-year AI-driven cost savings target to $150 million from $75 million, a potentially meaningful margin tailwind over time. Article Title Neutral Sentiment: Free cash flow remained strong at $326 million for the first six months, and the company returned $366 million to shareholders, supporting the longer-term investment case even as near-term sentiment stays cautious. Article Title Negative Sentiment: Investor reaction has been pressured by Equifax’s weaker-than-expected Q3 and full-year 2026 guidance, which came in below consensus and suggests headwinds from a tough mortgage market and broader macro conditions. Article Title Negative Sentiment: Margins were also hit by a legal settlement accrual tied to a previously disclosed coding issue, adding another overhang as analysts noted the company’s near-term outlook appears less exciting than the quarter’s operating results. Article Title Insider Activity In other Equifax news, CEO Mark W. Begor sold 37,791 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $172.40, for a total transaction of $6,515,168.40. Following the completion of the transaction, the chief executive officer owned 271,730 shares in the company, valued at $46,846,252. This trade represents a 12.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Chad M. Borton sold 2,455 shares of Equifax stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $173.89, for a total value of $426,899.95. Following the sale, the executive vice president directly owned 29,518 shares in the company, valued at $5,132,885.02. The trade was a 7.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company’s stock.
Analysts Set New Price Targets EFX has been the topic of several research analyst reports. Jefferies Financial Group lowered their price objective on shares of Equifax from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. The Goldman Sachs Group reissued a “neutral” rating and issued a $182.00 price target on shares of Equifax in a report on Tuesday. Morgan Stanley decreased their price target on shares of Equifax from $244.00 to $243.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Equifax from $225.00 to $217.00 in a report on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Equifax from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.63.
Get Our Latest Analysis on EFX
Equifax Stock Down 4.4% Shares of EFX stock opened at $172.23 on Wednesday. The stock has a market cap of $20.51 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 1.36 and a beta of 1.32. Equifax, Inc. has a one year low of $150.74 and a one year high of $271.84. The stock has a fifty day moving average price of $165.31 and a 200 day moving average price of $183.40. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.61 and a quick ratio of 0.61.
Equifax (NYSE:EFX – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The credit services provider reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. Equifax had a net margin of 11.12% and a return on equity of 20.41%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.00 earnings per share. Equifax has set its Q3 2026 guidance at 2.150-2.250 EPS and its FY 2026 guidance at 8.390-8.690 EPS. Analysts predict that Equifax, Inc. will post 8.56 earnings per share for the current year.
Equifax Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were paid a $0.56 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.24 dividend on an annualized basis and a yield of 1.3%. Equifax’s payout ratio is presently 39.44%.
Equifax Profile (Free Report)
Equifax Inc (NYSE: EFX) is a global data, analytics and technology company that specializes in consumer and commercial credit reporting, decisioning tools and identity solutions. Headquartered in Atlanta, Georgia, Equifax is one of the three major consumer credit reporting agencies in the United States and provides credit information and related services to lenders, employers, governments and consumers worldwide.
The company’s offerings include consumer credit reports and scores, credit monitoring and identity protection services, and a range of business-oriented products for risk management, fraud detection and compliance.
Further Reading Five stocks we like better than Equifax Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding EFX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equifax, Inc. (NYSE:EFX – Free Report).
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Revenue: $1.7 billion, up 11% on a reported basis and 10% in constant currency.EPS: $2.25 per share, up 13% and $0.05 above April guidance midpoint.EBITDA: $55
The good news is, Equifax (EFX 4.82%) topped last quarter's revenue and earnings expectations. It's the bad news, however, that's winning the day. As of 12:50 p.m. ET Equifax stock is down 7.1%, mostly in response to guidance for the remainder of the year that fell short of analysts' estimates.
The near future not as bright as the recent past Credit bureau Equifax turned $1.7 billion in revenue into a per-share profit of $2.25 for the three months ending in June, up 11% and 13% year over year, respectively. And, those figures topped analyst expectations for sales of just under $1.7 billion, and earnings of $2.20 per share.
The future, however, isn't looking quite as bright. Equifax is calling for a top line of between $1.68 billion and $1.71 billion for the third fiscal quarter ending in June to translate into earnings of between $2.15 and $2.25 per share, versus consensus estimates for sales of $1.71 billion and a per-share profit of $2.27. This of course means full-year results will also come up relatively short of analysts' average outlooks. The company's now looking for 2026 earnings of between $8.39 and $8.69 per share on revenue of between $6.71 billion and $6.78 billion. But, the analyst community was anticipating a bottom line of $8.60 per share on a top line of $6.76 billion.
Image source: Getty Images.
A shrinking mortgage loan market is the chief concern. Mortgage rates remain elevated at roughly 6.6% for 30-year loans. Although applications had been edging higher since March's multi-month low, according to the Mortgage Bankers Association, even the slight uptick in interest rates in recent weeks is taking a measurable toll on interest in purchasing residential real estate that's already exceedingly expensive.
Not the worst bet at this discounted price The market's knee-jerk response is understandable. With shares already down 35% from last May's peak, however, much -- if not all -- of this headwind may have already been priced in.
Today's Change
(
-4.82
%) $
-8.67
Current Price
$
171.41
Meanwhile, what's arguably not fully reflected in the stock's present price is how well Equifax's acquisition plans and artificial intelligence efforts are paying off; the company also announced on Tuesday it was doubling its AI-driven cost-cutting target to $150 million.
This might put things in perspective: Prior to today, despite its recent (and not-so-recent) weakness, analysts' consensus one-year price target for this ticker was $218.00. That's 30% above Equifax stock's current price. There's not too much in Q2's numbers or guidance for the remainder of the year that's likely to alter this target a great deal.
Just bear in mind this stock's still contending with bearish momentum and rhetoric, which is sure to keep things volatile.
After seeing early productivity gains from its implementation of artificial intelligence and agentic-based solutions across its internal processes, Equifax doubled its forecast of the cost savings it expects to see over the next three years, according to a presentation released Tuesday (July 21) in conjunction with the company’s second-quarter earnings call.
Equifax CEO Mark W. Begor said during the earnings call that the $150 million in run rate spending savings that the global data, analytics and technology company now expects to see from 2026 to 2028 is double the estimate it announced in February.
“The pace of adoption is ramping very quickly and delivering big productivity lifts in every corner of Equifax,” Begor said.
Equifax has implemented AI and agentic-based solutions across product development, technology, operations, and support functions such as human resources, legal and finance. It has seen these solutions drive speed, accuracy, productivity and margin expansion, according to the presentation.
The company has seen conversational AI in call centers improve customer authentication and fulfillment rates, AI-assisted processes decrease back-office dispute handling times, and AI deliver “early but big benefits” in software development, IT operations, cybersecurity and cloud cost optimization, Begor said during the call.
“We are super energized about the pace of our AI adoption inside Equifax, but we know that we are in the very early innings of our rollout,” Begor said. “We are confident there is significantly more opportunity to both grow revenue and reduce costs as AI and agentic capabilities become fully embedded across Equifax.”
Meanwhile, Equifax said in a Tuesday earnings release that its planned acquisition of Círculo de Crédito, which it described as the fastest-growing credit bureau in Mexico, for an enterprise value of $750 million is expected to close in the fourth quarter.
The company announced in a July 7 press release that it plans to acquire Círculo de Crédito, a credit information services company that is a leader in alternative data, such as gig economy transactions and utility and telecommunications payment history. Equifax signed a definitive agreement for the acquisition, which is subject to customary closing conditions and regulatory review and approval.
“This alternative data can responsibly expand access to credit and support a more inclusive economy, critical in a country where nearly 33 million people are engaged in an informal employment, such as unregistered microbusinesses or gig employment,” Begor said during Tuesday’s earnings call.
Equifax announced in a June 30 press release that t it added 39 new global patents during the first half of the year. The patents feature innovations in explainable AI that turn complex data into transparent insights; enhanced identity verification and fraud detection; and multi-system data integration that unifies data from more than 100 siloed data sources. These new additions expanded Equifax’s portfolio of issued or pending patents to more than 750.
“Equifax is accelerating a strategy to utilize AI and agentic capabilities to improve our customers’ ability to utilize Equifax data and advanced technology to improve their decisions by incorporating more data and more effective AI-defined algorithms, using patented capabilities that deliver explainable results to our customers,” Begor said during the call.
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Equifax delivered Q2 revenue in line with estimates but missed EPS, with guidance for Q3 and full-year 2026 below consensus expectations. EFX's margins were pressured by a $100M legal settlement accrual, while free cash flow remained solid at $326M for the last six months. Management aims to double AI-driven cost reductions to $150M over two years, targeting operational efficiency and margin improvement.
Equifax Inc. (EFX) Q2 2026 Earnings Call July 21, 2026 8:30 AM EDT
Company Participants
Trevor Burns - Senior Vice President of Corporate Investor Relations
Mark Begor - CEO & Director
John Gamble - Executive VP, CFO & COO
Conference Call Participants
Jeffrey Meuler - Robert W. Baird & Co. Incorporated, Research Division
Toni Kaplan - Morgan Stanley, Research Division
Alexander EM Hess - JPMorgan Chase & Co, Research Division
Shlomo Rosenbaum - Stifel, Nicolaus & Company, Incorporated, Research Division
Manav Patnaik - Barclays Bank PLC, Research Division
Faiza Alwy - Deutsche Bank AG, Research Division
Andrew Nicholas - William Blair & Company L.L.C., Research Division
Ashish Sabadra - RBC Capital Markets, Research Division
Jason Haas - Wells Fargo Securities, LLC, Research Division
Kyle Peterson - Needham & Company, LLC, Research Division
Kevin McVeigh - UBS Investment Bank, Research Division
Surinder Thind - Jefferies LLC, Research Division
Curtis Nagle - BofA Securities, Research Division
Rayna Kumar - Oppenheimer & Co. Inc., Research Division
Kelsey Zhu - Autonomous Research US LP
Scott Wurtzel - Wolfe Research, LLC
Simon Alistair Clinch - Rothschild & Co Redburn, Research Division
Ryan Griffin - BMO Capital Markets Equity Research
Keen Fai Tong - Goldman Sachs Group, Inc., Research Division
Presentation
Operator
Greetings, and welcome to the Equifax Second Quarter 2026 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.
I'd now like to turn the call over to your host, Mr. Trevor Burns, Senior Vice President, Investor Relations. Thank you, sir. Please go ahead.
Trevor Burns
Senior Vice President of Corporate Investor Relations
Thanks, and good morning. Welcome to today's conference call. I'm Trevor Burns. With me today are Mark Begor, Chief Executive Officer; and John Gamble, Chief Financial Officer. Today's call is being recorded. An archive of the recording will be available later today in the IR Calendar section of the News and Events tab at our Investor Relations website. During the call, we will be making reference to certain
FICO’s Big Dip Could Be the Best Buying Chance of the YearEquifax NYSE: EFX reported second-quarter 2026 revenue of $1.7 billion, up 11% on a reported basis and 10% in constant currency, as growth in Workforce Solutions and U.S. mortgage-related revenue helped offset pressure from higher interest rates and weaker conditions in some international markets.
Chief Executive Officer Mark Begor said revenue was $5 million above the midpoint of the company’s April guidance. Excluding FICO mortgage royalties, reported revenue increased about 7%. Adjusted EBITDA was $552 million, up about 10.5%, and adjusted earnings per share were $2.25, up 13% and $0.05 above the April guidance midpoint. The company said adjusted EBITDA margin excluding FICO was nearly 35%, up 120 basis points from a year earlier.
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3 Stocks Just Announced Intentions to Buyback Near 10% of SharesTrevor Burns, senior vice president of investor relations, noted at the start of the call that the company recorded a $40 million charge, net of insurance proceeds, for a legal settlement tied to claims related to a previously disclosed coding issue. The company’s comments on EPS, EBITDA margin and cash conversion referred to non-GAAP measures.
Workforce Solutions benefits from diversified markets Workforce Solutions revenue increased 7%, with Begor citing better-than-expected performance in Verification Services diversified markets. Talent Solutions and consumer lending were both up high double digits in the quarter. Talent volumes increased mid-single digits despite what the company described as a decline in the overall market during the first two months of the quarter.
4 Undervalued Growth Stocks to Buy and Hold for the Long TermGovernment revenue in Workforce Solutions declined about 4%, which management said reflected a difficult comparison with a large 2025 win. However, Begor emphasized new commercial momentum in the government vertical. He said Workforce Solutions signed about $300 million in annual contract value over the past four months, principally with state agencies, including about $100 million in new business and $200 million in renewals.
Management said most of the benefit from the new government contracts will come in 2027, with some contribution expected in the second half of 2026. Begor said the company’s government pipeline remains about twice the level of a year ago and pointed to opportunities tied to federal and state efforts to improve income validation in Medicaid and SNAP programs.
Workforce Solutions EBITDA margin was 52.1%, consistent with the first quarter and above management’s expectations. The company also reported 10% growth in active records in The Work Number, reaching 217 million active records and 124 million current active records.
USIS grows despite softer mortgage market U.S. Information Solutions, or USIS, revenue rose 17% in the second quarter and 6% excluding FICO. Diversified markets revenue grew 6%, accelerating more than 300 basis points sequentially. Begor said B2B revenue increased 5%, supported by high single-digit growth in financial institutions and auto, while consumer direct revenue rose 11%.
USIS mortgage revenue was up 40%, or mid-single digits excluding FICO, while hard mortgage inquiries increased only 1%. Management said mortgage rates rose during the quarter, with 30-year fixed rates around 6.6% versus about 6.3% when the company issued April guidance. Begor said industry transaction volumes ran below expectations, but Equifax benefited from new products and share gains in pre-qualification and pre-approval offerings.
The company continued to highlight VantageScore adoption in mortgage following the Federal Housing Finance Agency’s activation of VantageScore use for more than 20 mortgage lenders in April. Begor said second-quarter VantageScore volume was almost three times the first-quarter level, with 2.2 million transactions. About 1,200 lenders pulled a free VantageScore alongside a paid FICO score from Equifax, while about 100 smaller non-GSE lenders and home equity lenders used VantageScore exclusively at a $1 price point.
Begor said Equifax plans to maintain the $1 VantageScore price through the end of 2027 to encourage adoption. Chief Financial Officer John Gamble said the company’s guidance assumes Equifax will continue to calculate and sell FICO scores for all mortgage credit transactions in 2026, with limited VantageScore revenue.
International growth slows; Mexico acquisition planned International revenue rose about 4% in constant currency. Asia Pacific delivered high single-digit growth, Canada grew mid-single digits, and Latin America and Europe posted low single-digit growth. Begor said market headwinds in Canada and the U.K. weighed on growth. International EBITDA margin was 27.6%, up 120 basis points from a year earlier, helped by technology savings from the company’s cloud transformation and cost management.
Equifax also discussed its recently announced agreement to acquire Círculo de Crédito, a credit bureau in Mexico, for an enterprise value of $750 million. Begor described Círculo as the fastest-growing credit bureau in Mexico and said it is licensed to operate both consumer and commercial credit bureau services. The company expects the acquisition to close in the fourth quarter, subject to customary closing conditions and regulatory approvals, and to be accretive in the first year.
Management said the purchase price represents an 11.7 times EBITDA multiple based on expected 2026 EBITDA, or about 9.4 times including expected run-rate savings. Begor said Círculo has more than 1,700 customers and 2 billion trade lines covering 80 million validated identities in Mexico, with strength in alternative data such as gig economy transactions and utility payment history.
AI initiatives drive higher savings target Equifax used much of the call to discuss artificial intelligence initiatives tied to its EFX 2028 strategy. Begor said the company launched 54 new products with AI capabilities embedded in their architecture during the first half of the year, contributing to a 16% Vitality Index in the quarter. He also highlighted products such as Ignite AI Advisor and Equifax IQ, which are designed to help customers use Equifax data and analytics through AI-enabled decisioning tools.
The company doubled its AI productivity goal to $150 million in run-rate savings from 2026 through 2028, up from the $75 million target it discussed earlier this year. Begor said savings are expected from operations, technology, product development and support functions. Gamble said the savings for 2026 are already reflected in the company’s guidance and will affect both operating expense and capital spending.
Begor said Equifax is deploying AI in call centers, document processing, software development, IT operations, cybersecurity, cloud cost optimization and corporate functions such as finance, legal and human resources. He said the company remains in the “early innings” of AI adoption and expects additional opportunities to grow revenue and reduce costs.
Guidance held on reported basis Equifax maintained its full-year 2026 financial guidance on a reported basis, while raising constant-currency guidance in line with the second-quarter revenue beat. Gamble said the benefit from second-quarter outperformance was offset by weaker foreign exchange.
For 2026, the company expects revenue growth of 7.2% to 8.4% excluding FICO mortgage royalties, adjusted EBITDA margin expansion excluding FICO of about 75 basis points and free cash flow of more than $1 billion with cash conversion of at least 100%.
For the third quarter, Equifax expects revenue of $1.68 billion to $1.71 billion, up almost 10% on a reported basis at the midpoint. Excluding FICO mortgage scores, reported revenue is expected to rise about 7% at the midpoint. The company expects third-quarter adjusted EPS of $2.15 to $2.25 and adjusted EBITDA of $547 million to $564 million.
Equifax returned $366 million to shareholders during the second quarter, including $300 million of share repurchases and $66 million of dividends. Begor said the company expects to complete the Círculo acquisition while continuing share repurchases in the second half of 2026 at a slower pace than in the first half, while keeping leverage below three times EBITDA.
About Equifax (NYSE:EFX)Equifax Inc NYSE: EFX is a global data, analytics and technology company that specializes in consumer and commercial credit reporting, decisioning tools and identity solutions. Headquartered in Atlanta, Georgia, Equifax is one of the three major consumer credit reporting agencies in the United States and provides credit information and related services to lenders, employers, governments and consumers worldwide.
The company's offerings include consumer credit reports and scores, credit monitoring and identity protection services, and a range of business-oriented products for risk management, fraud detection and compliance.
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Key Takeaways USIS revenues rose 17%, led by a 40% jump in mortgage revenues and wider VantageScore adoption.Workforce Solutions gained 7%, though operating and adjusted EBITDA margins declined y/y.Equifax doubled its AI savings target to $150 million and agreed to acquire Circulo de Credito. Equifax Inc. (EFX - Free Report) has reported second-quarter 2026 adjusted earnings of $2.25 per share, up 12.5% year over year. The figure beat the Zacks Consensus Estimate of $2.21 by 1.8%.
Revenues increased 10.6% year over year to $1.7 billion and surpassed the consensus mark by a slight margin. Strong growth in U.S. Information Solutions (USIS), mortgage services and verification offerings supported the results. The company’s new-product Vitality Index was 16%.
EFX share price has increased marginally over the past three months against an 8.2% dip in its industry and a 4.5% rally of the Zacks S&P 500 composite.
EFX’s Workforce Solutions Revenues Rise 7%Workforce Solutions revenues increased 7% year over year to $705.4 million. Verification Services revenues advanced 7% to $607.6 million, aided by high-double-digit growth in Talent Solutions and Consumer Lending. Workforce Solutions mortgage revenues rose 8%.
Employer Services revenues increased 3% to $97.8 million. The Government business signed new contracts and renewals totaling roughly $300 million in annual contract value during the first half of 2026. About $100 million represented new business, while approximately $200 million came from renewals.
The segment’s operating margin contracted to 44.9% from 46.4% a year earlier. The adjusted EBITDA margin declined to 52.1% from 53.3%, indicating that revenue growth did not fully translate into margin expansion.
Equifax’s USIS Growth Accelerates on Mortgage DemandUSIS revenues climbed 17% year over year to $611.6 million. Online Information Solutions revenues increased 19% to $545.4 million, while Financial Marketing Services revenues grew 4% to $66.2 million.
USIS mortgage revenues rose 40%, benefiting from share gains and the increased adoption of the company’s mortgage scoring products. About 1,300 mortgage lenders were using VantageScore by July 2026, while second-quarter VantageScore transactions totaled 2.2 million, nearly three times the first-quarter level.
The segment’s operating margin was 22.5%, down slightly from 22.6% in the prior-year quarter. The adjusted EBITDA margin fell to 32.8% from 35%, reflecting the impacts of FICO-related mortgage royalty expenses despite strong revenue growth.
EFX’s International Business Gains Across Key MarketsInternational revenues rose 8% on a reported basis and 4% in local currency to $383.1 million. The Asia Pacific delivered the strongest reported rally, with revenues increasing 17% to $99.7 million. Local-currency growth was 7%, driven by Online B2B and commercial offerings.
Latin America revenues advanced 9% on a reported basis and 3% in local currency to $109 million. Canada revenues grew 6% to $73.3 million, while Europe revenues increased 2% on a reported basis and 1% in local currency to $101.1 million.
The international operating margin expanded to 12.1% from 10.9%. The adjusted EBITDA margin improved 120 basis points to 27.6%, supported by operating leverage and continued new product execution.
Equifax’s Profitability Benefits From Revenue GrowthAdjusted EBITDA increased 10.6% year over year to $552.1 million. The adjusted EBITDA margin remained flat at 32.5%. Excluding FICO mortgage royalties, management indicated that the adjusted EBITDA margin expanded 120 basis points.
Reported net income attributable to Equifax declined 3.9% to $183.9 million. GAAP diluted earnings increased to $1.54 per share from $1.53, helped by a lower diluted share count.
The quarter included a $40-million pre-tax charge, net of expected insurance recoveries, related to a legal settlement associated with a previously disclosed coding issue. Acquisition-related amortization expenses totaled $61.2 million.
EFX Strengthens AI Efforts & Expands in MexicoThe company doubled its 2026-2028 AI-driven cost and capital savings target to $150 million. Equifax is deploying artificial intelligence across product development, technology, operations and support functions to improve productivity, speed and accuracy.
EFX also signed an agreement to acquire Circulo de Credito for an enterprise value of $750 million. The Mexico-based credit bureau generated approximately $134 million in revenues in the 12 months ended June 2026, representing 31% growth, and recorded an adjusted EBITDA margin of roughly 46%. The transaction is expected to close in the fourth quarter of 2026 and be accretive to adjusted earnings in the first year.
Equifax Maintains Its 2026 Revenue OutlookFor the third quarter of 2026, management expects revenues between $1.68 billion and $1.71 billion, suggesting growth of 8.7-10.7%. The guided range’s midpoint ($1.69 billion) meets the current Zack Consensus Estimate.
Adjusted earnings are projected between $2.15 and $2.25 per share. The midpoint ($2.2) of the outlook is marginally lower than the consensus estimate of $2.21. Adjusted EBITDA is expected to be $547-$564 million.
Equifax maintained its full-year revenue guidance of $6.71-$6.78 billion, implying growth of 10.5-11.6%. The guidance’s midpoint ($6.75 billion) is slightly above the Zacks Consensus Estimate of $6.74 billion.
Adjusted earnings are anticipated between $8.39 and $8.69 per share. The midpoint ($8.54) of the outlook is lower than the consensus estimate of $8.56. Adjusted EBITDA is forecast at $2.10-$2.16 billion.
The company expects more than $1 billion in free cash flow and cash conversion above 100% for 2026. During the second quarter, it returned $366 million to shareholders, including $300 million in share repurchases and $66 million in dividends.
Equifax carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings SnapshotFactSet Research Systems Inc. (FDS - Free Report) reported third-quarter fiscal 2026 adjusted earnings of $4.53 per share, beating the Zacks Consensus Estimate of $4.44 by 2%. The figure increased 6.1% from the year-ago quarter.
Revenues of $622.9 million surpassed the consensus mark of $617.2 million by 0.9% and rose 6.4% year over year.
Paychex, Inc. (PAYX - Free Report) posted solid fourth-quarter fiscal 2026 results. Adjusted earnings of $1.32 per share surpassed the consensus estimate of $1.31 by a slight margin and increased 11% from the year-ago quarter.
PAYX’s total revenues of $1.61 billion rose 12% year over year and beat the consensus estimate by a slight margin.
Equifax (EFX - Free Report) came out with quarterly earnings of $2.25 per share, beating the Zacks Consensus Estimate of $2.21 per share. This compares to earnings of $2 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +1.81%. A quarter ago, it was expected that this credit reporting company would post earnings of $1.69 per share when it actually produced earnings of $1.86, delivering a surprise of +10.06%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Equifax, which belongs to the Zacks Consulting Services industry, posted revenues of $1.7 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.32%. This compares to year-ago revenues of $1.54 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Equifax shares have lost about 17% since the beginning of the year versus the S&P 500's gain of 8.7%.
What's Next for Equifax?While Equifax has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Equifax was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.26 on $1.71 billion in revenues for the coming quarter and $8.56 on $6.74 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Consulting Services is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Hackett Group (HCKT - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 4.
This consulting company is expected to post quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of -10.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Hackett Group's revenues are expected to be $68.9 million, down 11.3% from the year-ago quarter.
For the quarter ended June 2026, Equifax (EFX - Free Report) reported revenue of $1.7 billion, up 10.6% over the same period last year. EPS came in at $2.25, compared to $2.00 in the year-ago quarter.
The reported revenue represents a surprise of +0.32% over the Zacks Consensus Estimate of $1.69 billion. With the consensus EPS estimate being $2.21, the EPS surprise was +1.81%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Equifax performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Operating revenue- Total International: $383.1 million versus $380.17 million estimated by 18 analysts on average. Compared to the year-ago quarter, this number represents a +8.4% change.Operating revenue- U.S. Information Solutions: $611.6 million versus the 18-analyst average estimate of $606.29 million. The reported number represents a year-over-year change of +17.3%.Operating revenue- Latin America: $109 million compared to the $109.26 million average estimate based on 16 analysts. The reported number represents a change of +9.4% year over year.Operating revenue- Canada: $73.3 million versus the 16-analyst average estimate of $72.85 million. The reported number represents a year-over-year change of +5.8%.Operating revenue- Europe: $101.1 million versus the 16-analyst average estimate of $105.04 million. The reported number represents a year-over-year change of +1.9%.Operating revenue- Asia Pacific: $99.7 million versus $93.05 million estimated by 16 analysts on average. Compared to the year-ago quarter, this number represents a +16.9% change.Operating revenue- Workforce Solutions: $705.4 million versus $713.4 million estimated by 18 analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change.Operating revenue- Workforce Solutions- Employer Services: $97.8 million versus the 16-analyst average estimate of $96.88 million. The reported number represents a year-over-year change of +3%.Operating revenue- Workforce Solutions- Verification Services: $607.6 million versus $617.09 million estimated by 16 analysts on average. Compared to the year-ago quarter, this number represents a +7.1% change.Operating revenue- U.S. Information Solutions- Financial Marketing Services: $66.2 million versus the 15-analyst average estimate of $66.49 million. The reported number represents a year-over-year change of +3.9%.Operating revenue- U.S. Information Solutions- Online Information Solutions: $545.4 million versus $541.04 million estimated by 15 analysts on average. Compared to the year-ago quarter, this number represents a +19.1% change.Adjusted EBITDA- U.S. Information Solutions: $200.4 million versus the six-analyst average estimate of $201.09 million.View all Key Company Metrics for Equifax here>>>
Shares of Equifax have returned +17.3% over the past month versus the Zacks S&P 500 composite's -0.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
, /PRNewswire/ -- Equifax® (NYSE: EFX) today announced financial results for the quarter ended June 30, 2026.
Second quarter reported revenue of $1.700 billion, up a strong 11% with 10% local currency revenue growth. Diversified markets revenue up 7% on a reported basis, up 6% in local currency, with strong performances in Workforce Solutions and USIS. Workforce Solutions second quarter revenue up 7%. Verification Services revenue up 7% led by high double digit revenue growth in Talent Solutions and Consumer Lending. Strong execution in Government with agreements signed in First Half totaling about $300 million in annual contract value. USIS second quarter revenue up strong 17% with Diversified Markets revenue growth accelerating sequentially over 300 basis points to 6%. USIS Mortgage revenue up 40%. International second quarter revenue up 8% on a reported basis. Local currency revenue growth up 4% with high single digit revenue growth in Asia Pacific and mid single digit growth in Canada. Second quarter U.S. Mortgage revenue up very strong 25%. New Product Innovation leveraging the EFX Cloud, EFX.AI, and proprietary data delivered strong 16% new product Vitality Index. Doubling 2026-2028 AI-driven cost reduction target to $150 million. Returned $366 million in cash to shareholders through share repurchases and quarterly dividend. Signed a definitive agreement to acquire Círculo de Crédito, the fastest growing credit bureau in Mexico, for an enterprise value of $750 million. Expected to close in the fourth quarter of 2026. "Equifax delivered a strong second quarter performance executing on our EFX2028 Strategic Priorities with reported revenue of $1.700 billion, up 11% on a reported basis, with 10% local currency revenue growth enabled by a 16% new product Vitality Index, above our 10% long-term goal, with double digit Vitality across all business units. Diversified Markets local currency revenue growth of 6% reflects strong revenue growth in Workforce Solutions and USIS. U.S. Mortgage revenue grew 25% and in line with our expectations despite higher mortgage rates throughout the second quarter.
Workforce Solutions delivered 7% revenue growth, with Diversified Markets growth of 6% led by strong high double digit growth in Talent Solutions and Consumer Lending. The Workforce Solutions Government team continues to execute well, signing new contract wins and renewals totaling about $300 million in annual contract value in the first half of 2026 that will principally benefit 2027 and beyond. Workforce Solutions Mortgage revenue was up 8%. USIS delivered strong revenue growth of 17%, with Diversified Markets revenue growth of 6%, which was up over 300 basis points sequentially and very strong 40% Mortgage revenue growth. International delivered 4% local currency revenue growth with high single digit revenue growth in Asia Pacific and mid single digit growth in Canada.
Equifax is on offense deploying EFX.AI to deliver higher-performing products, models and scores while driving AI agents and tools across our operations, technology, and support teams for productivity. We are doubling our AI-driven cost reduction goal set earlier in the year to $150 million from 2026 to 2028, reflecting the accelerating momentum deploying AI across EFX to drive speed, accuracy, and productivity.
Equifax signed a definitive agreement to acquire Círculo de Crédito, the fastest growing credit bureau in Mexico, for an enterprise value of $750 million. The acquisition fits perfectly in our balanced capital allocation framework, with our focus on highly accretive bolt-on acquisitions while continuing significant ongoing return of capital to shareholders and maintaining our strong investment grade balance sheet. Equifax returned $366 million of cash to shareholders in the quarter, including repurchasing 1.8 million shares, or about 1% of shares outstanding, for $300 million and paying $66 million in quarterly dividends," said Mark W. Begor, Equifax Chief Executive Officer.
"Equifax is fundamentally a different company on how we go to market from Technology to Data & Analytics, EFX.AI capabilities, product focus, and AI-driven Operations all leveraging our Cloud technology investment and patented EFX.AI products and D&A capabilities. Equifax's scale proprietary data is the foundation of our AI data moat and a big competitive advantage, and we are expanding our capabilities to leverage our unique, non-public data assets with EFX.AI and our Agentic AI capabilities to rapidly deliver higher-performing scores, models, and multi-market products to help our customers grow.
Our strong second quarter results reflect the resiliency of the broad-based Equifax business model in an increasingly uncertain economy. We are energized about the New Equifax and we expect to deliver higher growth, margins, and accelerating free cash flow, and returning cash to shareholders in the future."
Financial Results Summary
The Company reported revenue of $1,700.1 million in the second quarter of 2026, up 11% and 10% on a reported and local currency basis, respectively, compared to the second quarter of 2025.
Net income attributable to Equifax of $183.9 million was down 4% in the second quarter of 2026 compared to $191.3 million in the second quarter of 2025.
Diluted EPS attributable to Equifax was $1.54 per share in the second quarter of 2026, up 1% compared to $1.53 per share in the second quarter of 2025.
Workforce Solutions Second Quarter Results
Total revenue was $705.4 million in the second quarter of 2026, up 7% compared to the second quarter of 2025. Operating margin for Workforce Solutions was 44.9% in the second quarter of 2026 compared to 46.4% in the second quarter of 2025. Adjusted EBITDA margin for Workforce Solutions was 52.1% in the second quarter of 2026 compared to 53.3% in the second quarter of 2025. Verification Services revenue was $607.6 million, up 7% compared to the second quarter of 2025. Employer Services revenue was $97.8 million, up 3% compared to the second quarter of 2025. USIS Second Quarter Results
Total revenue was $611.6 million in the second quarter of 2026, up 17% compared to the second quarter of 2025. Operating margin for USIS was 22.5% in the second quarter of 2026 compared to 22.6% in the second quarter of 2025. Adjusted EBITDA margin for USIS was 32.8% in the second quarter of 2026 compared to 35.0% in the second quarter of 2025. Online Information Solutions revenue was $545.4 million, up 19% compared to the second quarter of 2025. Financial Marketing Services revenue was $66.2 million, up 4% compared to the second quarter of 2025. International Second Quarter Results
Total revenue was $383.1 million in the second quarter of 2026, up 8% and up 4% compared to the second quarter of 2025 on a reported and local currency basis, respectively. Operating margin for International was 12.1% in the second quarter of 2026 compared to 10.9% in the second quarter of 2025. Adjusted EBITDA margin for International was 27.6% in the second quarter of 2026 compared to 26.4% in the second quarter of 2025. Latin America revenue was $109.0 million, up 9% compared to the second quarter of 2025 on a reported basis and up 3% on a local currency basis. Europe revenue was $101.1 million, up 2% compared to the second quarter of 2025 on a reported basis and up 1% on a local currency basis. Asia Pacific revenue was $99.7 million, up 17% compared to the second quarter of 2025 on a reported basis and up 7% on a local currency basis. Canada revenue was $73.3 million, up 6% compared to the second quarter of 2025 on a reported and local currency basis. Adjusted EPS and Adjusted EBITDA Margin
Adjusted EPS attributable to Equifax was $2.25 in the second quarter of 2026, up 13% compared to the second quarter of 2025. Adjusted EBITDA margin was 32.5% in the second quarter of 2026, flat compared to the second quarter of 2025. These financial measures exclude certain items as described further in the Non-GAAP Financial Measures section below. 2026 Third Quarter and Full Year Guidance
Q3 2026
FY 2026
Low-End
High-End
Low-End
High-End
Reported Revenue
$1.680 billion
$1.710 billion
$6.710 billion
$6.780 billion
Reported Revenue Growth
8.7 %
10.7 %
10.5 %
11.6 %
Local Currency Growth (1)
8.4 %
10.4 %
9.8 %
10.9 %
Organic Local Currency Growth (1)
8.3 %
10.3 %
9.7 %
10.8 %
Adjusted Earnings Per Share
$2.15 per share
$2.25 per share
$8.39 per share
$8.69 per share
(1) Refer to page 9 for definitions. Additionally, the definitions can be found in the Non-GAAP Financial Measures below.
About Equifax
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by approximately 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
Earnings Conference Call and Audio Webcast
In conjunction with this release, Equifax will host a conference call on July 21, 2026 at 8:30 a.m. (ET) via a live audio webcast. To access the webcast and related presentation materials, go to the Investor Relations section of our website at www.equifax.com. The discussion will be available via replay at the same site shortly after the conclusion of the webcast. This press release is also available at that website.
Non-GAAP Financial Measures
This earnings release presents adjusted EPS attributable to Equifax which is diluted EPS attributable to Equifax adjusted (to the extent noted above for different periods) for acquisition-related amortization expense of certain acquired intangibles, accrual for legal and regulatory matters related to the 2017 cybersecurity incident, gain on sale of an equity investment, foreign currency impact of certain intercompany loans, acquisition-related costs other than acquisition amortization, income tax effect of stock awards recognized upon vesting or settlement, Argentina highly inflationary foreign currency adjustment, realignment of resources and other costs, antitrust litigation costs and an accrual for a legal settlement. All adjustments are net of tax, with a reconciling item with the aggregated tax impact of the adjustments. This earnings release also presents (i) adjusted EBITDA and adjusted EBITDA margin, which is defined as consolidated net income attributable to Equifax plus net interest expense, income taxes, depreciation and amortization, and also excludes certain one-time items, (ii) local currency revenue change, which is calculated by conforming 2026 results using 2025 exchange rates, (iii) organic local currency revenue growth, which is defined as local currency revenue growth, adjusted to reflect an increase in prior year Equifax revenue from the revenue of acquired companies in the prior year period, (iv) free cash flow, which is defined as cash provided by operating activities less capital expenditures, and (v) cash conversion, which is defined as the ratio of free cash flow to adjusted net income. These are important financial measures for Equifax but are not financial measures as defined by GAAP.
These non-GAAP financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as an alternative measure of net income or EPS as determined in accordance with GAAP.
Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures and related notes are presented in the Q&A. This information can also be found under "Investor Relations/Financial Information/Non-GAAP Financial Measures" on our website at www.equifax.com.
Forward-Looking Statements
This release contains forward-looking statements and forward-looking information. These statements can be identified by expressions of belief, expectation or intention, as well as statements that are not historical fact. These statements are based on certain factors and assumptions including with respect to foreign exchange rates, revenue growth, results of operations and financial performance, strategic initiatives, business plans, prospects and opportunities, the U.S. mortgage market, economic conditions and effective tax rates.
While Equifax believes these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Several factors could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These factors relate to (i) actions taken by us, including, but not limited to, restructuring actions, strategic initiatives (such as our cloud technology transformation), capital investments and asset acquisitions or dispositions, as well as (ii) developments beyond our control, including, but not limited to, changes in the U.S. mortgage market environment and changes more generally in U.S. and worldwide economic conditions (including resulting from changes in interest rates and inflation levels, the evolving impact of tariffs and geopolitical conflicts) that materially impact consumer spending, home prices, investment values, consumer debt, unemployment rates and the demand for Equifax's products and services. Deteriorations in economic conditions or increases in interest rates could lead to a decline in demand for our products and services and negatively impact our business. It may also impact financial markets and corporate credit markets, which could adversely impact our access to financing or the terms of any financing.
Other risk factors relevant to our business include: (i) any compromise of Equifax, customer or consumer information due to security breaches and other disruptions to our information technology infrastructure; (ii) the failure to achieve and maintain key industry or technical certifications; (iii) the failure to realize the anticipated benefits of our cloud technology transformation strategy; (iv) operational disruptions and strain on our resources caused by our transition to cloud-based technologies; (v) our ability to meet customer requirements for high system availability and response time performance; (vi) effects on our business if we provide inaccurate or unreliable data to customers; (vii) our ability to maintain access to credit, employment, financial and other data from external sources; (viii) the impact of competition; (ix) our ability to maintain relationships with key customers and business partners; (x) our ability to successfully introduce new products, services and analytical capabilities; (xi) the impact on the demand for some of our products and services due to the availability of free or less expensive consumer information; (xii) our ability to comply with our obligations under settlement agreements arising out of a material cybersecurity incident in 2017; (xiii) potential adverse developments in new and pending legal proceedings, government investigations and regulatory enforcement actions; (xiv) changes in, and the effects of, laws, regulations and government policies governing our business, including oversight by the Consumer Financial Protection Bureau in the U.S., the U.K. Financial Conduct Authority and Information Commissioner's Office in the U.K., and the Office of Australian Information Commission and the Australian Competition and Consumer Commission in Australia; (xv) the impact of privacy, cybersecurity, artificial intelligence or other data-related laws and regulations; (xvi) the economic, political and other risks associated with international sales and operations; (xvii) the impact on our reputation and business from our responsible business commitments and disclosures; (xviii) our ability to realize the anticipated strategic and financial benefits from our acquisitions, joint ventures and other alliances; (xix) any damage to our reputation due to our dependence on outsourcing certain portions of our operations; (xx) the termination or suspension of our government contracts; (xxi) the impact of infringement or misappropriation of intellectual property by us against third parties or by third parties against us; (xxii) an increase in our cost of borrowing and our ability to access the capital markets due to a credit rating downgrade; (xxiii) our ability to hire and retain key personnel; (xxiv) the impact of adverse changes in the financial markets and corresponding effects on our retirement and post-retirement pension plans; (xxv) the impact of health epidemics, pandemics and similar outbreaks on our business; and (xxvi) risks associated with our use of certain artificial intelligence and machine learning models and systems.
A summary of additional risks and uncertainties can be found in our Annual Report on Form 10-K for the year ended December 31, 2025 including without limitation under the captions "Item 1. Business -- Governmental Regulation," "-- Forward-Looking Statements" and "Item 1A. Risk Factors" and in our other filings with the U.S. Securities and Exchange Commission. Forward-looking statements are given only as at the date of this release and Equifax disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
EQUIFAX INC.
CONSOLIDATED STATEMENTS OF INCOME
Three Months Ended June 30,
2026
2025
(In millions, except per share amounts)
Operating revenue
$ 1,700.1
$ 1,537.0
Operating expenses:
Cost of services (exclusive of depreciation and amortization below)
773.7
664.6
Selling, general and administrative expenses
422.5
384.2
Depreciation and amortization
189.7
177.4
Total operating expenses
1,385.9
1,226.2
Operating income
314.2
310.8
Interest expense
(59.8)
(53.1)
Other income, net
2.5
3.6
Consolidated income before income taxes
256.9
261.3
Provision for income taxes
(71.8)
(68.7)
Consolidated net income
185.1
192.6
Less: Net income attributable to noncontrolling interests including redeemable
noncontrolling interests
(1.2)
(1.3)
Net income attributable to Equifax
$ 183.9
$ 191.3
Basic earnings per common share:
Net income attributable to Equifax
$ 1.55
$ 1.54
Weighted-average shares used in computing basic earnings per share
118.4
124.0
Diluted earnings per common share:
Net income attributable to Equifax
$ 1.54
$ 1.53
Weighted-average shares used in computing diluted earnings per share
119.2
125.0
Dividends per common share
$ 0.56
$ 0.50
EQUIFAX INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
June 30, 2026
December 31, 2025
(In millions, except par values)
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents
$ 170.1
$ 180.8
Trade accounts receivable, net of allowance for doubtful accounts of $20.5 and $20.2 at June 30, 2026
and December 31, 2025, respectively
1,104.0
1,012.7
Prepaid expenses
166.5
144.2
Other current assets
140.7
74.5
Total current assets
1,581.3
1,412.2
Property and equipment:
Capitalized internal-use software and system costs
2,885.9
3,098.2
Data processing equipment and furniture
231.5
239.3
Land, buildings and improvements
296.7
299.6
Total property and equipment
3,414.1
3,637.1
Less accumulated depreciation and amortization
(1,484.9)
(1,704.7)
Total property and equipment, net
1,929.2
1,932.4
Goodwill
6,792.8
6,745.7
Indefinite-lived intangible assets
94.7
94.8
Purchased intangible assets, net
1,224.2
1,331.3
Other assets, net
359.6
347.8
Total assets
$ 11,981.8
$ 11,864.2
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt and current maturities of long-term debt
$ 1,410.3
$ 1,038.0
Accounts payable
126.6
206.4
Accrued expenses
331.0
276.3
Accrued salaries and bonuses
165.9
286.1
Deferred revenue
101.2
101.2
Other current liabilities
490.5
427.4
Total current liabilities
2,625.5
2,335.4
Long-term debt
4,056.8
4,055.3
Deferred income tax liabilities, net
424.5
390.8
Long-term pension and other postretirement benefit liabilities
Common stock, $1.25 par value: Authorized shares - 300.0;
Issued shares - 189.3 at June 30, 2026 and December 31, 2025;
Outstanding shares - 117.6 and 120.4 at June 30, 2026 and December 31, 2025, respectively
236.6
236.6
Paid-in capital
2,082.7
2,023.4
Retained earnings
6,666.3
6,445.1
Accumulated other comprehensive loss
(460.1)
(517.1)
Treasury stock, at cost, 71.1 and 68.3 shares at June 30, 2026 and December 31, 2025, respectively
(4,139.4)
(3,577.8)
Stock held by employee benefits trusts, at cost, 0.6 shares at June 30, 2026 and December 31, 2025
(5.9)
(5.9)
Total Equifax shareholders' equity
4,380.2
4,604.3
Noncontrolling interests
18.2
19.5
Total shareholders' equity
4,398.4
4,623.8
Total liabilities, redeemable noncontrolling interests, and shareholders' equity
$ 11,981.8
$ 11,864.2
EQUIFAX INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Six Months Ended June 30,
2026
2025
(In millions)
(Unaudited)
Operating activities:
Consolidated net income
$ 358.4
$ 326.4
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization
376.2
355.7
Stock-based compensation expense
60.5
46.6
Deferred income taxes
38.0
(7.3)
Gain on sale of equity investment
—
(0.8)
Changes in assets and liabilities, excluding effects of acquisitions:
Accounts receivable, net
(91.2)
(69.0)
Other assets, current and long-term
(119.3)
(24.8)
Current and long term liabilities, excluding debt
(40.9)
(41.8)
Cash provided by operating activities
581.7
585.0
Investing activities:
Capital expenditures
(255.4)
(229.4)
Cash received from divestitures
—
0.8
Cash used in investing activities
(255.4)
(228.6)
Financing activities:
Net short-term borrowings (payments)
647.8
(115.9)
Payments on long-term debt
(276.4)
—
Treasury stock purchases
(560.0)
(127.4)
Payment of share repurchase excise tax
(8.3)
—
Dividends paid to Equifax shareholders
(133.5)
(110.5)
Distributions paid to noncontrolling interests
(5.6)
(4.2)
Proceeds from exercise of stock options and employee stock purchase plan
16.8
24.4
Payment of taxes related to settlement of equity awards
(15.4)
(13.2)
Debt issuance costs
(0.3)
—
Cash used in financing activities
(334.9)
(346.8)
Effect of foreign currency exchange rates on cash and cash equivalents
(2.1)
9.5
(Decrease) increase in cash and cash equivalents
(10.7)
19.1
Cash and cash equivalents, beginning of period
180.8
169.9
Cash and cash equivalents, end of period
$ 170.1
$ 189.0
Common Questions & Answers (Unaudited)
(Dollars in millions)
1. Can you provide a further analysis of operating revenue by operating segment?
Operating revenue consists of the following components:
(In millions)
Three Months Ended June 30,
Local
Currency
Organic
Local
Currency
Operating revenue:
2026
2025
$ Change
% Change
% Change (1)
% Change (2)
Verification Services
$ 607.6
$ 567.1
$ 40.5
7 %
7 %
Employer Services
97.8
95.0
2.8
3 %
3 %
Total Workforce Solutions
705.4
662.1
43.3
7 %
6 %
Online Information Solutions
545.4
457.8
87.6
19 %
19 %
Financial Marketing Services
66.2
63.7
2.5
4 %
4 %
Total U.S. Information Solutions
611.6
521.5
90.1
17 %
17 %
Latin America
109.0
99.6
9.4
9 %
3 %
3 %
Europe
101.1
99.2
1.9
2 %
1 %
1 %
Asia Pacific
99.7
85.3
14.4
17 %
7 %
7 %
Canada
73.3
69.3
4.0
6 %
6 %
6 %
Total International
383.1
353.4
29.7
8 %
4 %
4 %
Total operating revenue
$ 1,700.1
$ 1,537.0
$ 163.1
11 %
10 %
9 %
(1)
Local currency revenue change is calculated by conforming 2026 results using 2025 exchange rates.
(2)
Organic local currency revenue growth is defined as local currency revenue growth, adjusted to reflect an increase in prior year Equifax revenue from the revenue of acquired companies in the prior year period. This adjustment is made for 12 months following the acquisition.
Reconciliations of Non-GAAP Financial Measures to the Comparable GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share amounts)
A. Reconciliation of net income attributable to Equifax to adjusted net income attributable to Equifax and adjusted diluted EPS attributable to Equifax, defined as net income and EPS, respectively, each adjusted for acquisition-related amortization expense of certain acquired intangibles, accrual for legal and regulatory matters related to the 2017 cybersecurity incident, gain on sale of an equity investment, foreign currency impact of certain intercompany loans, acquisition-related costs other than acquisition amortization, income tax effect of stock awards recognized upon vesting or settlement, Argentina highly inflationary foreign currency adjustment, realignment of resources and other costs, antitrust litigation costs, accrual for a legal settlement and aggregated tax impact of these adjustments:
Three Months Ended June 30,
(In millions, except per share amounts)
2026
2025
$ Change
% Change
Net income attributable to Equifax
$ 183.9
$ 191.3
$ (7.4)
(4) %
Acquisition-related amortization expense of certain acquired intangibles (1)
61.2
62.5
(1.3)
(2) %
Accrual for legal and regulatory matters related to the 2017 cybersecurity incident (2)
0.4
0.4
—
— %
Gain on sale of equity investment (3)
—
(0.8)
0.8
nm
Foreign currency impact of certain intercompany loans (4)
—
(0.1)
0.1
nm
Acquisition-related costs other than acquisition amortization (5)
7.0
6.1
0.9
15 %
Income tax effects of stock awards that are recognized upon vesting or settlement (6)
—
(0.7)
0.7
nm
Argentina highly inflationary foreign currency adjustment (7)
0.6
1.3
(0.7)
(54) %
Realignment of resources and other costs (8)
—
4.6
(4.6)
nm
Antitrust litigation costs (9)
0.6
—
0.6
nm
Accrual for a legal settlement (10)
40.0
—
40.0
nm
Tax impact of adjustments (11)
(25.1)
(14.9)
(10.2)
68 %
Adjusted net income attributable to Equifax
$ 268.6
$ 249.7
$ 18.9
8 %
Adjusted diluted EPS attributable to Equifax
$ 2.25
$ 2.00
$ 0.25
13 %
Weighted-average shares used in computing diluted EPS
119.2
125.0
nm - not meaningful
(1)
During the second quarter of 2026, we recorded acquisition-related amortization expense of certain acquired intangibles of $61.2 million ($48.9 million, net of tax). We calculate this financial measure by excluding the impact of acquisition-related amortization expense and including a benefit to reflect the significant cash income tax savings resulting from the income tax deductibility of amortization for certain acquired intangibles. The $12.3 million of tax is comprised of $16.3 million of tax expense, net of $4.0 million of a cash income tax benefit. During the second quarter of 2025, we recorded acquisition-related amortization expense of certain acquired intangibles of $62.5 million ($50.0 million, net of tax). The $12.5 million of tax is comprised of $16.6 million of tax expense, net of $4.1 million of a cash income tax benefit. See the Notes to this reconciliation for additional detail.
(2)
During the second quarter of 2026 and 2025, we recorded an accrual for legal and regulatory matters related to the 2017 cybersecurity incident of $0.4 million. See the Notes to this reconciliation for additional detail.
(3)
During the second quarter of 2025, we recorded a gain on sale of an equity investment of $0.8 million ($0.4 million), net of tax). The impact was recorded to the Other income, net line item within the Consolidated Statements of Income. See the Notes to this reconciliation for additional details.
(4)
During the second quarter of 2025, we recorded a foreign currency gain of $0.1 million on certain intercompany loans. The impact was recorded to the Other income, net line item within the Consolidated Statements of Income. See the Notes to this reconciliation for additional detail.
(5)
During the second quarter of 2026 and 2025, we recorded $7.0 million ($4.1 million, net of tax) and $6.1 million ($4.4 million, net of tax), respectively, for acquisition-related costs other than acquisition amortization. These costs primarily related to integration costs resulting from recent acquisition activity and were recorded in operating income. See the Notes to this reconciliation for additional detail.
(6)
During the second quarter of 2025, we recorded a tax benefit of $0.7 million related to the tax effects of deductions for stock compensation in excess of amounts recorded for compensation costs. See the Notes to this reconciliation for additional detail.
(7)
Argentina experienced multiple periods of increasing inflation rates, devaluation of the peso, and increasing borrowing rates. As such, Argentina was deemed a highly inflationary economy by accounting policymakers. During the second quarter of 2026 and 2025, we recorded a foreign currency loss of $0.6 million and $1.3 million, respectively, related to the impact of remeasuring the peso denominated monetary assets and liabilities as a result of Argentina being a highly inflationary economy. See the Notes to this reconciliation for additional detail.
(8)
During the second quarter of 2025, we recorded $4.6 million ($3.5 million, net of tax) of restructuring charges related to contract terminations, which relate to our efforts to complete our cloud technology transformation. See the Notes to this reconciliation for additional detail.
(9)
During the second quarter of 2026, we recorded costs related to antitrust litigation pertaining to our Workforce Solutions business unit in the amount of $0.6 million ($0.5 million, net of tax). See the Notes to this reconciliation for additional detail.
(10)
During the second quarter of 2026, we recorded an accrual of $100.0 million, which net of expected insurance proceeds of $60.0 million, resulted in a charge of $40.0 million ($30.2 million, net of tax), for a legal settlement associated with the resolution of claims related to a previously-disclosed coding issue. See the Notes to this reconciliation for additional detail.
(11)
During the second quarter of 2026, we recorded the tax impact of adjustments of $25.1 million comprised of (i) acquisition-related amortization expense of certain acquired intangibles of $12.3 million ($16.3 million of tax expense, net of $4.0 million of cash income tax benefit), (ii) a tax adjustment of $2.9 million related to acquisition-related costs other than acquisition amortization, (iii) a tax adjustment of $0.1 million related to antitrust litigation costs and (iv) a tax adjustment of $9.8 million related to an accrual for a legal settlement.
During the second quarter of 2025, we recorded the tax impact of adjustments of $14.9 million comprised of (i) acquisition-related amortization expense of certain acquired intangibles of $12.5 million ($16.6 million of tax expense, net of $4.1 million of cash income tax benefit), (ii) a tax adjustment of $0.4 million related to the gain on sale of an equity investments, (iii) a tax adjustment of $1.7 million related to acquisition-related costs other than acquisition amortization, and (iv) a tax adjustment of $1.1 million related to restructuring charges.
B. Reconciliation of net income attributable to Equifax to adjusted EBITDA, defined as net income excluding income taxes, interest expense, net, depreciation and amortization expense, accrual for legal and regulatory matters related to the 2017 cybersecurity incident, gain on sale of an equity investment, foreign currency impact of certain intercompany loans, acquisition-related costs other than acquisition amortization, Argentina highly inflationary foreign currency adjustment, realignment of resources and other costs, antitrust litigation costs, accrual for a legal settlement and presentation of adjusted EBITDA margin:
Three Months Ended June 30,
(In millions)
2026
2025
$ Change
% Change
Revenue
$ 1,700.1
$ 1,537.0
$ 163.1
11 %
Net income attributable to Equifax
$ 183.9
$ 191.3
$ (7.4)
(4) %
Income taxes
71.8
68.7
3.1
5 %
Interest expense, net*
58.1
50.4
7.7
15 %
Depreciation and amortization
189.7
177.4
12.3
7 %
Accrual for legal and regulatory matters related to 2017 cybersecurity incident (1)
0.4
0.4
—
— %
Gain on sale of equity investment (2)
—
(0.8)
0.8
nm
Foreign currency impact of certain intercompany loans (3)
—
(0.1)
0.1
nm
Acquisition-related costs other than acquisition amortization (4)
7.0
6.1
0.9
15 %
Argentina highly inflationary foreign currency adjustment (5)
0.6
1.3
(0.7)
(54) %
Realignment of resources and other costs (6)
—
4.6
(4.6)
nm
Antitrust litigation costs (7)
0.6
—
0.6
nm
Accrual for a legal settlement (8)
40.0
—
40.0
nm
Adjusted EBITDA, excluding the items listed above
$ 552.1
$ 499.3
$ 52.8
11 %
Adjusted EBITDA margin
32.5 %
32.5 %
nm - not meaningful
*Excludes interest income of $1.7 million in the second quarter of 2026 and $2.7 million in the second quarter of 2025.
(1)
During the second quarter of 2026 and 2025, we recorded an accrual for legal and regulatory matters related to the 2017 cybersecurity incident of $0.4 million. See the Notes to this reconciliation for additional detail.
(2)
During the second quarter of 2025, we recorded a gain on sale of an equity investment of $0.8 million ($0.4 million), net of tax). The impact was recorded to the Other income, net line item within the Consolidated Statements of Income. See the Notes to this reconciliation for additional details.
(3)
During the second quarter of 2025, we recorded a foreign currency gain of $0.1 million on certain intercompany loans. The impact was recorded to the Other income, net line item within the Consolidated Statements of Income. See the Notes to this reconciliation for additional detail.
(4)
During the second quarter of 2026 and 2025, we recorded $7.0 million ($4.1 million, net of tax) and $6.1 million ($4.4 million, net of tax), respectively, for acquisition-related costs other than acquisition amortization. These costs primarily related to integration costs resulting from recent acquisition activity and were recorded in operating income. See the Notes to this reconciliation for additional detail.
(5)
Argentina experienced multiple periods of increasing inflation rates, devaluation of the peso, and increasing borrowing rates. As such, Argentina was deemed a highly inflationary economy by accounting policymakers. During the second quarter of 2026 and 2025, we recorded a foreign currency loss of $0.6 million and $1.3 million, respectively, related to the impact of remeasuring the peso denominated monetary assets and liabilities as a result of Argentina being a highly inflationary economy. See the Notes to this reconciliation for additional detail.
(6)
During the second quarter of 2025, we recorded $4.6 million ($3.5 million, net of tax) of restructuring charges related to contract terminations, which relate to our efforts to complete our cloud technology transformation. See the Notes to this reconciliation for additional detail.
(7)
During the second quarter of 2026, we recorded costs related to antitrust litigation pertaining to our Workforce Solutions business unit in the amount of $0.6 million ($0.5 million net of tax). See the Notes to this reconciliation for additional detail.
(8)
During the second quarter of 2026, we recorded an accrual of $100.0 million, which, net of expected insurance proceeds of $60.0 million, resulted in a charge of $40.0 million ($30.2 million, net of tax), for a legal settlement associated with the resolution of claims related to a previously-disclosed coding issue. See the Notes to this reconciliation for additional detail.
C. Reconciliation of operating income by segment to Adjusted EBITDA, excluding depreciation and amortization expense, other income, net, noncontrolling interest, accrual for legal and regulatory matters related to the 2017 cybersecurity incident, gain on sale of an equity investment, foreign currency impact of certain intercompany loans, acquisition-related costs other than acquisition amortization, Argentina highly inflationary foreign currency adjustment, realignment of resources and other costs, antitrust litigation costs, accrual for a legal settlement and presentation of adjusted EBITDA margin for each of the segments:
(In millions)
Three Months Ended June 30, 2026
Workforce
Solutions
U.S.
Information
Solutions
International
General
Corporate
Expense
Total
Revenue
$ 705.4
$ 611.6
$ 383.1
—
$ 1,700.1
Operating income
316.7
137.8
46.3
(186.6)
314.2
Depreciation and amortization
49.6
61.9
53.5
24.7
189.7
Other income (expense), net*
—
0.5
1.5
(1.2)
0.8
Noncontrolling interest
—
—
(1.2)
—
(1.2)
Adjustments (1)
1.2
0.2
5.8
41.4
48.6
Adjusted EBITDA
$ 367.5
$ 200.4
$ 105.9
$ (121.7)
$ 552.1
Operating margin
44.9 %
22.5 %
12.1 %
nm
18.5 %
Adjusted EBITDA margin
52.1 %
32.8 %
27.6 %
nm
32.5 %
nm - not meaningful
*Excludes interest income of $1.1 million in International and $0.6 million in General Corporate Expense.
(In millions)
Three Months Ended June 30, 2025
Workforce
Solutions
U.S.
Information
Solutions
International
General
Corporate
Expense
Total
Revenue
$ 662.1
$ 521.5
$ 353.4
—
$ 1,537.0
Operating income
307.3
118.0
38.6
(153.1)
310.8
Depreciation and amortization
44.8
62.8
46.1
23.7
177.4
Other (expense) income, net*
(0.1)
0.7
1.4
(1.1)
0.9
Noncontrolling interest
—
—
(1.3)
—
(1.3)
Adjustments (1)
1.1
0.9
8.6
0.9
11.5
Adjusted EBITDA
$ 353.1
$ 182.4
$ 93.4
$ (129.6)
$ 499.3
Operating margin
46.4 %
22.6 %
10.9 %
nm
20.2 %
Adjusted EBITDA margin
53.3 %
35.0 %
26.4 %
nm
32.5 %
nm - not meaningful
*Excludes interest income of $2.3 million in International and $0.4 million in General Corporate Expense.
(1)
During the second quarter of 2026, we recorded pre-tax expenses of $0.4 million for an accrual for legal and regulatory matters related to the 2017 cybersecurity incident, $7.0 million for acquisition-related costs other than acquisition amortization, $0.6 million for a foreign currency loss related to the impact of remeasuring the peso denominated monetary assets and liabilities as a result of Argentina being a highly inflationary economy, $0.6 million of antitrust litigation costs, and $40.0 million for an accrual for a legal settlement, net of expected insurance proceeds.
During the second quarter of 2025, we recorded pre-tax expenses of $0.4 million for an accrual for legal and regulatory matters related to the 2017 cybersecurity incident, an $0.8 million gain on sale of an equity investment, a $0.1 million foreign currency gain on certain intercompany loans, $6.1 million for acquisition-related costs other than acquisition amortization, a foreign currency loss of $1.3 million related to the impact of remeasuring the peso denominated monetary assets and liabilities as a result of Argentina being a highly inflationary economy, and $4.6 million of restructuring charges for the realignment of resources and other costs.
Notes to Reconciliations of Non-GAAP Financial Measures to the Comparable GAAP Financial Measures
Diluted EPS attributable to Equifax is adjusted for the following items:
Acquisition-related amortization expense - During the second quarter of 2026 and 2025, we recorded acquisition-related amortization expense of certain acquired intangibles of $61.2 million ($48.9 million, net of tax) and $62.5 million ($50.0 million, net of tax), respectively. We calculate this financial measure by excluding the impact of acquisition-related amortization expense and including a benefit to reflect the material cash income tax savings resulting from the income tax deductibility of amortization for certain acquired intangibles. These financial measures are not prepared in conformity with GAAP. Management believes excluding the impact of amortization expense is useful because excluding acquisition-related amortization, and other items that are not comparable, allows investors to evaluate our performance for different periods on a more comparable basis. Certain acquired intangibles result in material cash income tax savings which are not reflected in earnings. Management believes that including a benefit to reflect the cash income tax savings is useful as it allows investors to better value Equifax. Management makes these adjustments to earnings when measuring profitability, evaluating performance trends, setting performance objectives and calculating our return on invested capital.
Accrual for legal and regulatory matters related to the 2017 cybersecurity incident - Accrual for legal and regulatory matters related to the 2017 cybersecurity incident includes legal fees to respond to subsequent litigation and government investigations for both periods presented. During the second quarter of 2026 and 2025, we recorded an accrual for legal and regulatory matters related to the 2017 cybersecurity incident of $0.4 million. Management believes excluding these charges is useful as it allows investors to evaluate our performance for different periods on a more comparable basis. Management makes these adjustments to net income when measuring profitability, evaluating performance trends, setting performance objectives and calculating our return on invested capital. This is consistent with how management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Gain on sale of equity investment - During the second quarter of 2025 we recorded a gain on sale of an equity investment of $0.8 million ($0.4 million, net of tax). Management believes excluding this charge from certain financial results provides meaningful supplemental information regarding our financial results for the three months ended June 30, 2025, since the non-operating gain is not comparable among the periods. This is consistent with how our management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Foreign currency impact of certain intercompany loans - During the second quarter of 2025, we recorded a gain of $0.1 million related to foreign currency impact of certain intercompany loans. Management believes excluding this charge is useful as it allows investors to evaluate our performance for different periods on a more comparable basis. This is consistent with how management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Acquisition-related costs other than acquisition amortization - During the second quarter of 2026 and 2025, we recorded $7.0 million ($4.1 million, net of tax) and $6.1 million ($4.4 million, net of tax), respectively, for acquisition-related costs other than acquisition amortization. These costs primarily related to transaction and integration costs resulting from recent acquisitions and were recorded in operating income. Management believes excluding this charge from certain financial results provides meaningful supplemental information regarding our financial results, since a charge of such an amount is not comparable among the periods. This is consistent with how our management reviews and assesses Equifax's historical performance and is useful when planning, forecasting, and analyzing future periods.
Income tax effects of stock awards that are recognized upon vesting or settlement - During the second quarter of 2025, we recorded a tax benefit of $0.7 million related to the tax effects of deductions for stock compensation in excess of amounts recorded for compensation costs. Management believes excluding this tax effect from financial results provides meaningful supplemental information regarding our financial results for the three months ended June 30, 2025 because these amounts are non-operating and relate to income tax benefits or deficiencies for stock awards recognized when tax amounts differ from recognized stock compensation cost. This is consistent with how management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Argentina highly inflationary foreign currency adjustment - Argentina experienced multiple periods of increasing inflation rates, devaluation of the peso, and increasing borrowing rates. As such, Argentina was deemed a highly inflationary economy by accounting policymakers. We recorded a foreign currency loss of $0.6 million and $1.3 million during the second quarter of 2026 and 2025, respectively, as a result of remeasuring the peso denominated monetary assets and liabilities due to Argentina being highly inflationary. Management believes excluding this charge is useful as it allows investors to evaluate our performance for different periods on a more comparable basis. This is consistent with how management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Charge related to the realignment of resources and other costs - During the second quarter of 2025, we recorded $4.6 million ($3.5 million, net of tax) of restructuring charges related to contract terminations, which relate to our efforts to complete our cloud technology transformation. Management believes excluding these charges from certain financial results provides meaningful supplemental information regarding our financial results since a charge of such an amount is not comparable among the periods. This is consistent with how our management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Antitrust litigation costs - Antitrust litigation costs include legal fees to respond to antitrust litigation pertaining to our Workforce Solutions business unit. During the second quarter of 2026, we recorded costs related to antitrust litigation pertaining to our Workforce Solutions business unit in the amount of $0.6 million ($0.5 million, net of tax). Management believes excluding these charges is useful as it allows investors to evaluate our performance for different periods on a more comparable basis, as these legal matters are outside of the normal course of Equifax's continuing business operations. Management makes these adjustments to net income when measuring profitability, evaluating performance trends, setting performance objectives and calculating our return on invested capital. This is consistent with how management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Accrual for a legal settlement - During the second quarter of 2026, we recorded an accrual of $100.0 million, which net of expected insurance proceeds of $60.0 million, resulted in a charge of $40.0 million ($30.2 million, net of tax) for a legal settlement associated with the resolution of claims related to a previously-disclosed coding issue, which represents our best estimate of the liability related to settlement of this matter. Management believes excluding this charge from certain financial results provides meaningful supplemental information regarding our financial results for the three months ended June 30, 2026, because a charge of such an amount is not comparable among the periods. This is consistent with how our management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Adjusted EBITDA and EBITDA margin - Management defines adjusted EBITDA as consolidated net income attributable to Equifax plus net interest expense, income taxes, depreciation and amortization, and also excludes certain one-time items. Management believes the use of adjusted EBITDA and adjusted EBITDA margin allows investors to evaluate our performance for different periods on a more comparable basis.
Key Takeaways Equifax is set to report Q2 results on July 21, with revenues estimated at $1.7B, up 10.3% y/y.Workforce Solutions revenues are expected to rise 9.9% as active records and verification hit rates increase.USIS revenues are projected to grow 14.5%, while International adjusted EBITDA is seen climbing 18.5%. Equifax (EFX - Free Report) is scheduled to report second-quarter 2026 results on July 21, before market open.
EFX has an impressive earnings surprise history. It has outperformed the Zacks Consensus Estimate in the four preceding quarters, with an average of 5.6%.
Equifax’s Q2 ExpectationsThe Zacks Consensus Estimate for Equifax’s top line is pinned at $1.7 billion, hinting at a 10.3% rise from the year-ago quarter’s actual.
For Workforce Solutions, we expect revenues of $623.1 million, suggesting a 9.9% year-over-year increase. The factors influencing this segment’s growth are likely to have been rising active records and higher verification hit rates, driven by EWS’s expanded data integrations with HR software companies, resulting in higher-income and employment datasets.
The adjusted EBITDA for Workforce Solutions is anticipated to be $365.7 million, implying a 3.6% rise from the year-ago quarter’s actual. Growth in adjusted EBITDA is likely to have been driven by cost efficiencies realized through the transition to cloud-native infrastructure, which shortens the development lifecycle of new products.
We anticipate the U.S. Information Solutions (“USIS”) segment to generate $524.2 million in revenues, suggesting a 14.5% increase from the year-ago quarter’s reported figure. This growth is likely to have been driven by rising core online transaction revenues for both auto lending and financial institutions, as well as robust growth in the USIS B2C segment. Adjusted EBITDA for USIS is expected to dip 10.2% year over year to $201 million.
International revenues are estimated to gain 5.6% from the year-ago quarter to $373.3 million. Steady growth across the operating regions is expected to have benefited this segment. For this segment, adjusted EBITDA is expected to be $110.7 million, implying 18.5% year-over-year growth.
The consensus estimate for earnings per share is pegged at $2.21, hinting at a 10.5% year-over-year dip. Robust top-line growth, coupled with cost discipline, is expected to have aided the bottom line.
What Our Model Says About EFXOur proven model does not conclusively predict an earnings beat for Republic Services this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Equifax has an Earnings ESP of -0.33% and a Zacks Rank of 3 at present.
Stocks to ConsiderHere are a few stocks from the broader Business Services sector, which, according to our model, have the right combination of elements to beat on earnings this season.
Klarna Group plc (KLAR - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is pegged at $987.9 million, indicating year-over-year growth of 20%. For loss, the consensus estimate is pegged at 7 cents per share, whereas it incurred a loss of 14 cents in the year-ago quarter. The company beat the consensus estimate in the first quarter of 2026 by 94.4%.
KLAR has an Earnings ESP of +43.34% and sports a Zacks Rank of 1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to declare second-quarter 2026 results on Aug. 18.
Thomson Reuters (TRI - Free Report) : The Zacks Consensus Estimate for second-quarter 2026 revenues is $1.9 billion, indicating 7.3% growth from the year-ago quarter’s actual. For earnings, the consensus estimate is 96 cents per share, suggesting 9.1% growth from the year-ago quarter’s reported number. TRI surpassed the consensus estimate in the past four quarters, with an average beat of 3.1%.
Thomson Reuters has an Earnings ESP of +2.35% and a Zacks Rank of 2. It is scheduled to declare second-quarter 2026 results on Aug. 5.
Wall Street analysts forecast that Equifax (EFX - Free Report) will report quarterly earnings of $2.21 per share in its upcoming release, pointing to a year-over-year increase of 10.5%. It is anticipated that revenues will amount to $1.69 billion, exhibiting an increase of 10.3% compared to the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Equifax metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Operating revenue- Workforce Solutions' will reach $713.40 million. The estimate indicates a change of +7.8% from the prior-year quarter.
The consensus among analysts is that 'Operating revenue- Workforce Solutions- Employer Services' will reach $96.88 million. The estimate points to a change of +2% from the year-ago quarter.
Analysts expect 'Operating revenue- Workforce Solutions- Verification Services' to come in at $617.09 million. The estimate points to a change of +8.8% from the year-ago quarter.
Based on the collective assessment of analysts, 'Operating revenue- U.S. Information Solutions- Financial Marketing Services' should arrive at $66.49 million. The estimate suggests a change of +4.4% year over year.
Analysts' assessment points toward 'Operating revenue- U.S. Information Solutions- Online Information Solutions' reaching $541.04 million. The estimate indicates a year-over-year change of +18.2%.
The average prediction of analysts places 'Operating revenue- Total International' at $380.17 million. The estimate indicates a year-over-year change of +7.6%.
Analysts forecast 'Operating revenue- U.S. Information Solutions' to reach $606.29 million. The estimate indicates a change of +16.3% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Operating revenue- Latin America' of $109.26 million. The estimate indicates a change of +9.7% from the prior-year quarter.
The combined assessment of analysts suggests that 'Operating revenue- Canada' will likely reach $72.85 million. The estimate indicates a year-over-year change of +5.1%.
The consensus estimate for 'Operating revenue- Europe' stands at $105.04 million. The estimate indicates a change of +5.9% from the prior-year quarter.
It is projected by analysts that the 'Operating revenue- Asia Pacific' will reach $93.05 million. The estimate indicates a year-over-year change of +9.1%.
According to the collective judgment of analysts, 'Adjusted EBITDA- U.S. Information Solutions' should come in at $201.09 million. The estimate compares to the year-ago value of $182.40 million.
View all Key Company Metrics for Equifax here>>>
Shares of Equifax have demonstrated returns of +10.8% over the past month compared to the Zacks S&P 500 composite's +0.5% change. With a Zacks Rank #3 (Hold), EFX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Wall Street expects a year-over-year increase in earnings on higher revenues when Equifax (EFX - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 21. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis credit reporting company is expected to post quarterly earnings of $2.21 per share in its upcoming report, which represents a year-over-year change of +10.5%.
Revenues are expected to be $1.69 billion, up 10.3% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Equifax?For Equifax, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.33%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Equifax will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Equifax would post earnings of $1.69 per share when it actually produced earnings of $1.86, delivering a surprise of +10.06%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Equifax doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
FICO’s Big Dip Could Be the Best Buying Chance of the YearEquifax NYSE: EFX said it has signed a definitive agreement to acquire Círculo de Crédito, which Chief Executive Officer Mark Begor described as the fastest-growing credit bureau in Mexico, for an enterprise value of $750 million.
During an investor update call, Begor said the acquisition would expand Equifax into Mexico, “the second largest economy in Latin America,” and give Círculo de Crédito customers access to Equifax’s cloud-native technology, decisioning and analytics capabilities, EFX.AI technology, and identity protection and fraud prevention offerings.
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3 Stocks Just Announced Intentions to Buyback Near 10% of SharesThe transaction is expected to close in the fourth quarter, subject to customary closing conditions and regulatory approvals. Begor said Equifax has been focused on entering Mexico for years, including efforts during prior leadership, and that Círculo became the most attractive entry point after TransUnion acquired majority ownership in another Mexican bureau.
Financial Terms and Expected Impact Equifax said Círculo generated $134 million in revenue for the 12 months ended June 30, up 31%, with adjusted EBITDA margins of 46%. For full-year 2026, Círculo is expected to continue delivering high double-digit revenue growth with mid-40% adjusted EBITDA margins, according to Begor.
4 Undervalued Growth Stocks to Buy and Hold for the Long TermThe $750 million enterprise value represents an 11.7 times adjusted EBITDA multiple at closing based on Círculo’s expected 2026 adjusted EBITDA, Begor said. Including expected run-rate synergies, the multiple is expected to be about 9.4 times at closing.
Begor said the acquisition is expected to be accretive to Equifax adjusted earnings per share in the first full year of ownership and to deliver mid-double-digit returns, which he said would be “well above” Equifax’s cost of capital.
Equifax also said it expects to maintain balance sheet leverage below 3 times while completing the acquisition. Begor said the company expects free cash flow to exceed $1 billion in 2026 and has more than $1.5 billion in financial capacity. He said Equifax can complete the acquisition while continuing share repurchases, though at a slower pace than in the first half of 2026.
Mexico Market and Círculo’s Position Begor characterized Mexico as one of the fastest-growing credit markets globally, with consumer credit growth driven by expanded access to credit, financial inclusion and digitization. He said more than 25% of Mexico’s population lacks access to formal financial products and nearly 44% does not have a bank account.
Círculo is the only credit bureau in Mexico licensed to operate both consumer and commercial credit bureau services, according to Begor. He said the company has more than 1,700 customers across banks, retail, fintech, small business lending, microfinance and telecommunications, along with 2 billion trade lines covering 80 million validated identities.
Begor said Círculo’s growth has been supported by its position in alternative data, including gig economy transactions and utility payment history. He said more than 40% of Círculo’s 2025 revenue came from fintech customers, with that segment growing more than 50%.
Integration Plans and Synergies Equifax said it expects to generate synergies by deepening Círculo’s retail and fintech data position, expanding penetration with large financial institutions, and moving Círculo’s infrastructure onto Equifax’s cloud-native architecture.
Begor said Equifax plans to bring its global platforms and products into Mexico, including its Ignite analytics platform, InterConnect platform, scores, AI capabilities, fraud tools and identity products. He also said Equifax expects some Círculo products and fintech-related capabilities to be deployed in other markets.
The company pointed to its acquisition of Boa Vista in Brazil as a model for the Círculo integration. Begor said Boa Vista has outperformed Equifax’s expectations and gave the company confidence in its acquisition integration playbook.
Questions From Analysts In response to questions about Círculo’s recent growth, Begor said the company has benefited from the rapid expansion of fintechs, retailers and telecommunications providers in Mexico. He said many consumers without bank accounts may first build credit through retail financing, such as appliance or furniture purchases.
Asked about competition, Begor said TransUnion is currently in the Mexican market through its ownership of the previously bank-owned consumer credit bureau. He said Equifax believes Círculo is well positioned because of its data from retailers, fintechs and telecommunications providers.
Begor also addressed Mexico’s data-sharing structure. He said credit bureaus are required by law to share certain trade lines when a credit report is pulled, but positive data is unique to each bureau. He said Círculo’s positive data, more frequent reporting from some contributors and broad contributor base are important advantages.
On regulatory timing, Begor said Equifax believes its approval process could be faster than TransUnion’s recent acquisition process because Equifax has had an application with Mexican regulators for several years to form a credit bureau and has been engaged with them during that period.
Equifax said the Círculo transaction is part of its broader bolt-on acquisition strategy. Including Círculo, Begor said the company will have invested nearly $5 billion in 17 strategic bolt-on acquisitions since 2020, focused on differentiated data, workforce solutions, international markets, and identity and fraud capabilities.
About Equifax NYSE: EFXEquifax Inc NYSE: EFX is a global data, analytics and technology company that specializes in consumer and commercial credit reporting, decisioning tools and identity solutions. Headquartered in Atlanta, Georgia, Equifax is one of the three major consumer credit reporting agencies in the United States and provides credit information and related services to lenders, employers, governments and consumers worldwide.
The company's offerings include consumer credit reports and scores, credit monitoring and identity protection services, and a range of business-oriented products for risk management, fraud detection and compliance.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Analysis of First Quarter 2026 Data Uncovers Accelerated Migration of Consumers Toward the Extremes of Economic stability and Pressure
, /PRNewswire/ -- Equifax® (NYSE: EFX) today released its first quarter 2026 Market Pulse Index, a measure of U.S. consumer financial health derived from anonymized credit, debt, income, and asset data along with VantageScore insights. The Market Pulse Index dipped from 61.6 to 60.9, marking its second straight quarter of decline, with drops observed across all generations. The Market Pulse Index continues to track a K-Shaped economy, highlighting three consumer segments - Thrivers (the top 10% with an index above 80), the Pivoting Middle (those with an index between 50 and 79), and Strivers (the bottom 20% with an index below 49) - each experiencing different financial situations.
"As the U.S. continues to navigate a K-shaped economy, where different segments of the population experience divergent financial realities simultaneously, we see that reaching the top financial tier creates powerful momentum, much like compounding interest, with those with the greatest amount of wealth continuing to accumulate more," said Emmaline Aliff, Advisory Leader at Equifax. "But for those who haven't reached the top financial tier, recent inflation and debt concentration are applying severe downward pressure. This pressure is contracting the size of the middle class."
Churning in the Middle Class
Within the Market Pulse Index consumer segments, the top-tier Thrivers group shrunk slightly, while the Strivers group expanded. At the same time, the Middle tier remained the same. This shows that consumers are moving toward the extremes of the financial stability spectrum rather than maintaining the middle.
The group with peak financial resilience, Thrivers, experienced a 5% drop in total size. The group facing heightened economic pressure, Strivers, saw a 2% increase in total size. The traditional "Pivoting Middle" tier saw a 0% change in total size during the first quarter of 2026. A review of data over a six quarter period, from the third quarter of 2024 until the end of the first quarter of 2026, tells the story of where the middle class is moving. A significant portion of individuals leaving the middle class are moving into the Strivers category, and 97% of that movement is explained by holding under $100,000 in assets. Conversely, more than two-thirds of those successfully climbing from the Middle to the Thrivers tier belong to the Affluent segment (over $1 million in assets).
Every Generation Saw a Downturn
For the second consecutive quarter, index values saw a downward trend across all age segments:
Generation Z dipped slightly to an average index of 58.9 (-0.1% QoQ). However, they exhibited significant variability, with an 11.73% segment showing upward index movement closely tied to proximity to family or neighborhood wealth safety nets. Millennials dropped to an average index of 58.1 (-1.2% QoQ). They lead all generations in significant index decreases (12.98%), as they navigate their prime earning years without the accumulated family wealth safety net that benefits younger consumers. Millennials also represent the largest portion of Strivers at 7.59%, driven primarily by a lack of assets. Generation X decreased to an average index of 60.3 (-0.8% QoQ) as they continue to balance peak career debt against the rising costs of essential needs. With an average index of 64.3 (-0.2% QoQ), Boomers+ remain the most financially stable segment with between 58% and 69% of the Boomer population remaining completely steady within their index range. Boomers in the Thriver segment account for 3.80% of the total U.S. population — the highest among all generations within the Affluent tier. The Equifax Market Pulse Index provides a comprehensive view of U.S. consumer financial health by synthesizing anonymized credit, debt, income, and asset data with VantageScore insights. The Index is designed to capture the combined effects of multiple economic forces rather than focusing on a single variable. Measured on a scale of 1 to 100 — where 100 represents the greatest financial strength — the Index delivers a holistic picture of consumer economic well-being, allowing for precise comparisons across diverse demographics and generations.
The Equifax Market Pulse Index was built using AI and machine learning methods leveraging proprietary Equifax wealth and asset data along with data from the Equifax credit file and VantageScore 4.0 to provide a comprehensive view of consumer financial health. It distills the credit, debt, income, capacity, and assets of U.S. consumers into one benchmark number to reflect the cumulative index of both positive and negative financial factors. To learn more, read the full Market Pulse Index here.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
FOR MORE INFORMATION:
Tiffany Smith for Equifax
[email protected]
, /PRNewswire/ -- Equifax® (NYSE: EFX) will announce its financial results for the second quarter ended June 30, 2026, in a release to be issued on Tuesday, July 21, at 6:30 a.m. Eastern Time (ET).
Equifax will host a conference call at 8:30 a.m. ET on July 21, in which senior management will discuss financial and business results for the quarter. Related presentation materials will be published on investor.equifax.com on July 21 at 6:30 a.m. ET.
Conference Call:
US/Canada: 877-559-1190 / +1 201-389-0916
International: Click here for participant International Toll-Free access numbers
Please dial the appropriate number 5-10 minutes prior to the call to complete registration. Name and affiliation/company are required to join the call.
Webcast:
To view the webcast and slide presentation, please click the link and enter your information to be connected. The link becomes active 15 minutes prior to the scheduled start time.
An audio replay of the conference call will be available on investor.equifax.com beginning on July 22.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
FOR MORE INFORMATION:
Molly Clegg for Equifax
[email protected]
Strategic Acquisition of Fastest-Growing Credit Bureau in Mexico Expands Equifax International Presence; Aligned with Equifax Strategy to Invest in Bolt-On Acquisitions: Offers Círculo de Crédito Customers Access to Cloud-Native Capabilities and Patented EFX.AI Technology to Accelerate Customer Growth and Financial Inclusion
Investor Call and Webcast to be Held on July 7 at 8:30 a.m. Eastern Time
, /PRNewswire/ -- Equifax® (NYSE: EFX) has signed a definitive agreement to acquire Círculo de Crédito, a leading credit information services company and the fastest-growing credit bureau in Mexico, for an enterprise value of $750 million1. This acquisition would expand Equifax into the fast-growth Mexico market, the second-largest economy in Latin America, and offer Círculo de Crédito customers access to industry-leading Equifax cloud-native capabilities, patented EFX.AI technology, and award-winning identity protection and fraud prevention offerings for the development of solutions designed to help customers grow and expand financial inclusion. Círculo de Crédito has delivered very strong financial results with revenue for the 12 months ended June 30, 2026 estimated at $134 million, up 31%, with $62 million of Adjusted EBITDA2. Círculo de Crédito is expected to continue to deliver strong high double-digit revenue growth in 2026, and is expected to be accretive to Equifax Adjusted EPS in the first full year of ownership. An investor call and webcast on the agreement will be held on July 7 at 8:30 a.m. Eastern Time (ET).
"The acquisition of Círculo de Crédito will expand Equifax's presence in the fast-growing Mexico market and marks an energizing new global chapter for both companies. The acquisition is aligned with our strategy to reinvest our strong free cash flow in accretive and strategic acquisitions to strengthen Equifax. Círculo de Crédito will be our 17th bolt-on acquisition in the past six years, totaling nearly $5 billion. Our strong performance and balance sheet allow Equifax to reinvest in growth, return cash to shareholders and acquire accretive and strategic acquisitions," said Mark W. Begor, CEO of Equifax. "Mexico is one of the fastest-growing credit markets globally. More than 25% of the Mexican population is without access to formal financial products, and nearly 44% of the population does not have a bank account.3 Equifax and Círculo de Crédito have a shared commitment to helping more consumers live their financial best, and together we will continue to offer deeper alternative data and unique insights that can help our customers deliver unique solutions to expand their consumer credit offerings."
Círculo de Crédito is the only Mexican credit bureau currently operating both consumer and commercial credit bureau services – with more than 1,700 bank, retail, fintech, small business lending, micro-finance, and telecommunications customers; and 2 billion tradelines covering 80 million validated identities. The company is a leader in alternative data, or information not included in traditional credit reports, including gig-economy transactions and utility and telecommunications payment history. This alternative data can responsibly expand access to credit and support a more inclusive economy, critical in a country where more than 33 million people4 are engaged in "informal" employment such as unregistered microbusinesses or gig employment.
"We are energized to join the Equifax team and have access to their industry-leading cloud-native technology, platforms, and products to help our customers grow and expand our position in Mexico. Consumer credit growth in Mexico is driven by inclusion and digitization, and Círculo de Crédito has been a first-mover in the market with the market's broadest data set and innovative solutions. We provide strategic data, decision-making, and digital solutions that empower lenders to deliver innovative financial services products across Mexico and expand access to credit for Mexican citizens," said Juan Manuel Ruiz Palmieri, CEO of Círculo de Crédito. "We are excited to integrate cloud-native Equifax data, analytics, and global solutions to help our customers grow."
Under the terms of the agreement, Equifax will acquire 100% of Círculo de Crédito equity from its existing shareholders, including: Banca Afirme, S.A. Institución de Banca Múltiple Afirme Grupo Financiero; Coppel, S.A. de C.V.; Grupo Elektra, S.A.B. de C.V.; and a group of private investors. Upon completion of the acquisition, Juan Manuel Ruiz Palmieri and the Círculo de Crédito team will continue to lead the company, which will join the Equifax International business team. The transaction is subject to customary closing conditions and regulatory review and approval, and is expected to close in the fourth quarter of 2026.
Conference Call and Audio Webcast
Equifax will host a conference call at 8:30 a.m. ET on July 7 in which senior management will discuss the Círculo de Crédito acquisition. Related presentation materials will be published on investor.equifax.com on July 7 at 6:30 a.m. ET.
Investor Conference Call:
US/Canada: 877-559-1190 /+1 201-389-0916
International: Click here for participant International Toll-Free access numbers
Please dial the appropriate number 5-10 minutes prior to the call to complete registration. Name and affiliation/company are required to join the call.
Webcast:
To view the webcast and slide presentation, please click the link and enter your information to be connected. The link becomes active 15 minutes prior to the scheduled start time.
Webcast link
NOTES TO EDITORS
1. Purchase price of $825 million. Enterprise value of $750 million reflects purchase price net of estimated $75 million cash at closing with zero debt balance
2. Financials were converted from Mexican Peso to USD at an exchange rate of 17.37 USD/MXN. Estimated Last twelve months financial results through June 30, 2026 based on information provided by Círculo de Crédito
3. Source: ENCUESTA NACIONAL DE INCLUSIÓN FINANCIERA (ENIF) 2024
4. Source: ENCUESTA NACIONAL DE OCUPACIÓN Y EMPLEO (ENOE) INDICADORES DE OCUPACIÓN Y EMPLEO, June 25, 2026
FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements and forward-looking information. All statements that address future operating performance and events or developments that we expect or anticipate will occur in the future, including statements relating to our future financial and operating results, our strategy, our ability to successfully consummate the proposed transaction, the expected financial and operational benefits, synergies and growth from the proposed transaction, our ability to integrate Círculo de Crédito and its products, services, technologies, IT systems and personnel into our operations, and similar statements about our outlook and our business plans are forward-looking statements. We believe these forward-looking statements are reasonable as and when made. However, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in our 2025 Form 10-K and subsequent SEC filings. As a result of such risks and uncertainties, we urge you not to place undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date when made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
FOR MORE INFORMATION:
Alexandra Packey for Equifax
[email protected]
As you can see on the chart below, the $171 level has been important for Atlanta-based Equifax.
In February, the shares were in a steep decline. The selloff ended when it reached this important level.
When this happened, some investors and traders who sold around $171 regretted it. A number of them decided that, if they could, they would buy back their shares at their selling price.
As a result, when the stock dropped back to this price in late March, these people placed buy orders. The large number of these orders created support.
When the shares rallied after, a similar dynamic occurred. Remorseful sellers created support when Equifax dropped back to $171 in April.
This support was broken in May.
When this happened, many of the investors and traders who bought shares at around $171 came to think their decision to do so was a mistake. A number of them decided to hold onto their losing positions.
But they also decided that, if they could do so eventually, they would exit their positions at break-even. Now that Equifax has rallied back to $171, these remorseful buyers are placing sell orders.
These sell orders have created resistance at a price that had been support.
In the financial markets, certain price levels have more importance than others. These are called support and resistance levels.
Good traders can identify these levels. They know when a stock reaches one of them, it will typically reverse or break through.
When trends change and important levels break, traders can find opportunities to profit.
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