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Is It Too Late to Buy Equifax Inc (EFX) After 6.6% Rally? GF Value Says Undervalued

On October 22, 2026, Equifax Inc EFX shares rose 6.6% to $187.14. Despite today's positive movement, the stock remains within a 52-week range of $137.01 to $238.94, indicating significant volatility over the past year.

GF Value™ verdict: Current price of $187.14 vs GF Value of $295.25, indicating a 36.6% undervaluation.GF Score™ of 77/100, suggesting the company is performing above average in terms of its financial metrics.Notable insider activity shows a net selling of $38.0M over the past 12 months, indicating potential caution from insiders.Is EFX Overvalued or Undervalued?Equifax Inc is currently trading at $187.14, which is significantly below the GF Value™ estimate of $295.25. This represents a margin of safety of 36.6%, suggesting that the stock is undervalued based on our proprietary estimate of intrinsic value. The GF Value™ is derived from a combination of historical trading multiples, past business growth, and future performance expectations, providing a comprehensive view of the company's worth relative to its market price.

Given the current price being lower than the estimated fair value, there appears to be an opportunity for investors, especially considering the GF Valuation label indicating that the stock is significantly undervalued. However, potential investors should remain cautious about the net selling activity by insiders, which may signal some level of uncertainty regarding the company's future performance.

How Does EFX's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)32.9x43.7xForward P/E19.1xN/AEquifax's current P/E ratio of 32.9x is significantly below its 5-year median of 43.7x, indicating that the stock is trading at a discount compared to its historical valuation metrics. This analysis aligns with the GF Value™ verdict, reinforcing the notion that the stock is undervalued at present levels.

What Does EFX's GF Score™ Tell Us?The GF Score™ evaluates a company's financial strength, profitability, growth potential, valuation, and momentum to provide an overall assessment of its investment quality. Equifax's GF Score™ of 77/100 indicates that the company is performing well compared to its peers.

MetricRatingGF Score™77Financial Strength5/10Profitability8/10Growth7/10Valuation4/10Momentum4/10The strongest area for Equifax is its profitability, rated 8/10, indicating robust profit margins and operational efficiency. In contrast, the valuation and momentum ranks are weaker at 4/10, suggesting that the stock might not be performing as well in terms of price appreciation and overall market valuation. This mixed performance profile highlights the complexities surrounding the investment thesis for EFX.

What Are Gurus and Insiders Doing with EFX?Currently, 13 gurus hold Equifax stock, with 8 adding to their positions and 5 trimming their holdings in recent quarters. This indicates a generally positive sentiment among institutional investors, as a majority are increasing their stakes in the company.

However, insider activity paints a different picture. Over the past 12 months, insiders bought $0.5M worth of shares but sold $38.5M, resulting in a net selling of $38.0M. This pattern suggests that while there may be confidence from some institutional investors, insiders are exhibiting caution, potentially reflecting concerns about the company's future performance or market conditions.

What This Means for InvestorsIn summary, Equifax Inc EFX is currently undervalued based on its GF Value™ estimate, presenting an opportunity for investors to consider. However, the significant net selling by insiders and weaker valuation and momentum ranks warrant a cautious approach to investment decisions. For more detailed information, visit the Equifax Inc (EFX) stock page for a comprehensive analysis.

Frequently Asked QuestionsWhat is EFX's GF Score™?

EFX's GF Score™ is 77/100, indicating that the company is performing above average in key financial metrics compared to its peers.

Is EFX overvalued or undervalued?

EFX is currently undervalued, with a GF Value™ estimate of $295.25 compared to its price of $187.14, indicating a 36.6% margin of safety.

What is EFX's P/E ratio?

EFX's P/E ratio is 32.9x, which is 25% below its 5-year median P/E of 43.7x, suggesting that the stock is trading at a discount compared to its historical valuation.

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.

TORONTO, Oct. 22, 2026 (GLOBE NEWSWIRE) -- The financial pressures facing Canadian small businesses are extending beyond the business itself, with some owners relying on personal credit and assets to support their companies, according to a new Equifax Canada survey.

One in four surveyed business owners (26 per cent) say they have been required to provide a personal guarantee to obtain business financing, potentially putting personal assets such as savings or a family home on the line to help keep their business afloat. Separately, one in five surveyed owners (21 per cent) say they have applied for or opened a personal line of credit as a financial safety net for their business during the past two years.

Customers, costs and cash flow add to the pressure
The survey found that finding or retaining customers is the most cited challenge facing small businesses, identified by 53 per cent of owners surveyed. Rising operating costs followed closely with 48 per cent of owners citing this as their top challenge.

Other top challenges identified by those surveyed include: managing workload, stress or mental health (42 per cent), competition (38 per cent), and a lack of capital or cash flow (30 per cent).

“Running a small business has always involved financial risk, but these findings highlight how closely business and personal finances can become connected,” said Jeff Brown, Head of Commercial Solutions at Equifax Canada.

Business principals stretched thin, rely on personal credit
According to Equifax data, business principals are business owners who disproportionately depend on personal credit to fund and run their businesses. They rely heavily on personal credit, carrying higher credit utilization (31 per cent higher than consumers), higher balances (105 per cent higher balance on their personal credit), and managing 44 per cent more trades compared to the average consumer.

In addition, business owners are also demonstrating increased use of certain credit products, with high percentages of use for both Revolving credit and HELOC (Home Equity Line of Credit) usage. “This data clearly demonstrates a disproportionate dependence on personal credit to secure timely funding and sustain their operations. To put this in perspective, if businesses are relying on HELOCs to sustain operations - and they are doing this amid challenging real estate market fluctuations - this could put them in a difficult situation. When owners are using personal credit or pledging personal assets to support their business, the financial health of the company can have implications well beyond the business itself, ” notes Brown.

Younger entrepreneurs relying on credit
Among younger business owners surveyed (those aged 18 to 34 years old), 54 per cent say they have been required to provide a personal guarantee, compared with just 15 per cent of owners aged 55 and older.

The same proportion of younger owners — 54 per cent — say they have applied for or opened a personal or business line of credit as a financial safety net for their business during the past two years, compared with 15 per cent among owners aged 55 and older.

Among the smaller group of surveyed owners who have used a personal line of credit or provided a personal guarantee for their business, 45 per cent report that doing so has affected their personal finances. Reported impacts include reduced personal credit availability (20 per cent), greater difficulty qualifying for a car loan (20 per cent), difficulty obtaining other personal credit (15 per cent) and difficulty qualifying for a mortgage (13 per cent).

“The findings suggest that younger business owners are managing several pressures simultaneously: maintaining customers and revenue, absorbing higher costs and, in some cases, finding additional financing to bridge cash-flow gaps,” notes Brown.

Business credit awareness remains uneven
Despite the financial pressures facing business owners, many are not actively monitoring their business credit profile.

Just over half or 54 per cent of surveyed owners say they have checked their business credit report at least once, including 34 per cent who have done so within the past 12 months. Fifteen per cent say they do not know how to access their business credit report, while 10 per cent were unaware their business had a separate credit report.

At the same time, there is considerable interest in making business credit information easier to access. Nearly two-thirds (64 per cent) of business owners surveyed say they would be interested in being able to monitor their business credit score directly through their bank's commercial banking platform. Among surveyed owners who have checked their business credit report within the past year, interest in monitoring their business credit score through their bank rises to 86 per cent.

Younger owners also show greater interest in access to business credit information. Nearly three-quarters (74 per cent) of surveyed owners under age 55 say they would be interested in accessing their business credit score through their bank, compared with 52 per cent of those aged 55 and older.

Last month Equifax Canada reported on the state of businesses with its latest Commercial Credit Trends which also showed that there is a divide in how Canadian businesses are managing their financial obligations, with businesses making difficult choices about where their cash goes.

“You cannot manage what you cannot see,” said Brown. “Understanding a company’s commercial credit profile can help business owners better understand how lenders may view their business and the financing options that may be available to them. Making that information easier to access could help owners make more informed financial decisions.”

Equifax is committed to partnering with small business lenders to support the growth and long-term health of Canadian small businesses, empowering Canada’s financial ecosystem with data and insights to move the Canadian economy forward, including the Equifax Business Credit Report which provides a vital financial business snapshot.

* An online survey was conducted via Leger’s LEO panel from September 21 to September 25, 2026, among n=107 Canadian business owners, co-owners, and operators aged 18 and older. For comparison purposes, a probability sample of n=107 respondents yields a margin of error no greater than ±9.5%, 19 times out of 20.

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

Angie Andich
Equifax Canada Media Relations
[email protected]

Equifax Inc. (EFX) Q3 2026 Earnings Call October 20, 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
Andrew Steinerman - JPMorgan Chase & Co, Research Division
Shlomo Rosenbaum - Stifel, Nicolaus & Company, Incorporated, Research Division
Jason Haas - Wells Fargo Securities, LLC, Research Division
Faiza Alwy - Deutsche Bank AG, Research Division
Wahid Amin - Barclays Bank PLC, Research Division
Andrew Nicholas - William Blair & Company L.L.C., Research Division
Ashish Sabadra - RBC Capital Markets, Research Division
Curtis Nagle - BofA Securities, Research Division
Surinder Thind - Jefferies LLC, Research Division
Kyle Peterson - Needham & Company, LLC, Research Division
Simon Alistair Clinch - Rothschild & Co Redburn, Research Division
Ryan Griffin - BMO Capital Markets Equity Research
Andrew Grobler - BNP Paribas, Research Division
Kevin McVeigh - UBS Investment Bank, Research Division
Scott Wurtzel - Wolfe Research, LLC
Kelsey Zhu - Autonomous Research US LP
Craig Huber - Huber Research Partners, LLC
Craig Maurer - Financial Technology Partners LP
Owen Lau - Clear Street LLC
Keen Fai Tong - Goldman Sachs Group, Inc., Research Division

Presentation

Operator

Greetings, and welcome to the Equifax Q3 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. [Operator Instructions]

It's now my pleasure to turn the call over to Trevor Burns, Senior Vice President, Investor Relations. Trevor, 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

Revenue: $1.693 billion in Q3 2026, up 10% reported and 9% in constant currency; slightly below July guidance midpoint due to $20 million US mortgage market imp

Equifax (EFX - Free Report) reported $1.69 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 9.6%. EPS of $2.26 for the same period compares to $2.04 a year ago.

The reported revenue represents a surprise of +0.3% over the Zacks Consensus Estimate of $1.69 billion. With the consensus EPS estimate being $2.19, the EPS surprise was +3.2%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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: $399.5 million versus the six-analyst average estimate of $388.86 million. The reported number represents a year-over-year change of +9.4%.Operating revenue- U.S. Information Solutions: $599.1 million versus $599.58 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +13% change.Operating revenue- Latin America: $114.1 million versus the five-analyst average estimate of $109.56 million. The reported number represents a year-over-year change of +11.8%.Operating revenue- Canada: $72.2 million versus $72.8 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +2% change.Operating revenue- Europe: $105.5 million versus the five-analyst average estimate of $105.99 million. The reported number represents a year-over-year change of +3.1%.Operating revenue- Asia Pacific: $107.7 million compared to the $99.49 million average estimate based on five analysts. The reported number represents a change of +19.5% year over year.Operating revenue- Workforce Solutions: $693.9 million versus $702.83 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +6.9% change.Operating revenue- U.S. Information Solutions- Online Information Solutions: $529.7 million versus the five-analyst average estimate of $535.08 million. The reported number represents a year-over-year change of +13.3%.Operating revenue- U.S. Information Solutions- Financial Marketing Services: $69.4 million versus $64.41 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +10.7% change.Operating revenue- Workforce Solutions- Employer Services: $90.7 million versus $97.6 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -5.3% change.Operating revenue- Workforce Solutions- Verification Services: $603.2 million versus the five-analyst average estimate of $607.99 million. The reported number represents a year-over-year change of +9%.Adjusted EBITDA- U.S. Information Solutions: $211.9 million versus $201.98 million estimated by five analysts on average.View all Key Company Metrics for Equifax here>>>

Shares of Equifax have remained unchanged over the past month versus the Zacks S&P 500 composite's +0.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

Equifax (EFX) came out with quarterly earnings of $2.26 per share, beating the Zacks Consensus Estimate of $2.19 per share. This compares to earnings of $2.04 per share a year ago.

, /PRNewswire/ -- Equifax® (NYSE: EFX) today announced financial results for the quarter ended September 30, 2026.

Third quarter reported revenue of $1.693 billion, up a strong 10% with 9% local currency revenue growth. Diversified Markets revenue up 8% on a reported and 7.5% on a local currency basis, with strong, broad-based performances across all business units. Third quarter U.S. Mortgage revenue up 15% despite weaker market. Workforce Solutions third quarter revenue up 7%. Diversified Markets revenue up 9% led by Verification Services Diversified Markets revenue up 13% with Talent Solutions revenue growth over 20%, Consumer Lending up high double digits, and Government up mid-single digits. Workforce Solutions Mortgage revenue flat in the third quarter from the weaker mortgage market. USIS third quarter revenue up strong 13% with Diversified Markets revenue growth up 6% led by Financial Institutions and Auto. USIS Mortgage revenue up a strong 28% despite the weaker mortgage market. International third quarter revenue up 9% on a reported basis. Local currency revenue growth up 7% with low double-digit revenue growth in Australia and high single-digit growth in Latin America. Expect Círculo de Crédito acquisition to close in the fourth quarter. New Product Innovation leveraging the EFX Cloud, EFX.AI, and proprietary data delivered record over 17% new product Vitality Index. Returned $158 million in cash to shareholders through share repurchases and quarterly dividend. "Equifax delivered a strong third quarter performance executing on our EFX2028 Strategic Priorities with reported revenue of $1.693 billion, up 10% on a reported basis, with 9% local currency revenue growth. Diversified Markets revenue growth of 8% was broad based across all business units driven by a record over 17% new product Vitality Index, above our 10% long-term goal. U.S. Mortgage revenue grew 15%, despite the much weaker mortgage market we saw in the latter half of the third quarter as mortgage interest rates increased substantially.

Workforce Solutions delivered 7% revenue growth, with Diversified Markets growth of 9% led by strong over 20% growth in Talent Solutions, strong high double-digit growth in Consumer Lending and accelerating sequential mid single-digit growth in Government. Workforce Solutions Mortgage revenue was about flat from the weak mortgage market. USIS delivered strong revenue growth of 13%, with Diversified Markets revenue growth of 6%, led by Financial Institutions and Auto. USIS Mortgage revenue was up 28% despite the weaker mortgage market. International delivered 7% local currency revenue growth with low double-digit revenue growth in Australia and high single-digit growth in Latin America.

We continue to deploy EFX.AI to deliver new, higher-performing products and solutions to our customers and expand AI deployment inside EFX to deliver against our $150 million AI productivity goal. With our strong free cash flow, Equifax returned $158 million of cash to shareholders in the quarter, including repurchasing 0.5 million shares for $92 million and paying $66 million in quarterly dividends. We continue to use our free cash flow to return cash to shareholders and for bolt-on M&A like our Círculo de Crédito acquisition that we expect to close in the fourth quarter," said Mark W. Begor, Equifax Chief Executive Officer.

"As we look to the remainder of 2026, we are maintaining our Diversified Markets revenue guidance for revenue growth of high single-digit percent. However, we expect the much weaker U.S. mortgage market that we saw in the latter half of the third quarter to continue through the remainder of 2026. As a result, we are reducing our full year 2026 revenue guidance at the midpoint to $6.661 billion, reflecting this reduction in our U.S. Mortgage related revenue.   

Despite the impact of the significantly weakened U.S. mortgage market on the second half of 2026 revenue, we expect to deliver 2026 Adjusted EPS Guidance of $8.50 per share, a reduction of only $0.04 per share at the midpoint and well within our previous Guidance range. As we did in the second quarter, the Equifax team is doing an outstanding job of managing cost and expenses including continuing to drive strong AI-driven operating cost efficiencies and optimizations, which should allow us to principally recover the gross margin impact from lower Mortgage revenue and deliver very strong operating margin performance.

We are confident in the future of the New Equifax. 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 differentiated data assets, industry-leading Cloud technology, patented EFX.AI products, D&A capabilities, and market-leading innovation. Our 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 agentic AI to rapidly deliver higher-performing scores, models, and multi-market products to help our customers grow.

Our strong third quarter results reflect the resiliency of the broad-based Equifax business model in a challenging mortgage market. 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 $1,692.5 million in the third quarter of 2026, up 10% and 9% on a reported and local currency basis, respectively, compared to the third quarter of 2025.

Net income attributable to Equifax of $211.7 million was up 32% in the third quarter of 2026 compared to $160.2 million in the third quarter of 2025.

Diluted EPS attributable to Equifax was $1.79 per share in the third quarter of 2026, up 39% compared to $1.29 per share in the third quarter of 2025.

Workforce Solutions Third Quarter Results

Total revenue was $693.9 million in the third quarter of 2026, up 7% compared to the third quarter of 2025. Operating margin for Workforce Solutions was 44.1% in the third quarter of 2026 compared to 43.8% in the third quarter of 2025. Adjusted EBITDA margin for Workforce Solutions was 51.4% in the third quarter of 2026 compared to 51.2% in the third quarter of 2025. Verification Services revenue was $603.2 million, up 9% compared to the third quarter of 2025. Employer Services revenue was $90.7 million, down 5% compared to the third quarter of 2025. USIS Third Quarter Results

Total revenue was $599.1 million in the third quarter of 2026, up 13% compared to the third quarter of 2025. Operating margin for USIS was 24.3% in the third quarter of 2026 compared to 23.2% in the third quarter of 2025. Adjusted EBITDA margin for USIS was 35.4% in the third quarter of 2026 compared to 35.2% in the third quarter of 2025. Online Information Solutions revenue was $529.7 million, up 13% compared to the third quarter of 2025. Financial Marketing Services revenue was $69.4 million, up 11% compared to the third quarter of 2025. International Third Quarter Results

Total revenue was $399.5 million in the third quarter of 2026, up 9% and up 7% compared to the third quarter of 2025 on a reported and local currency basis, respectively. Operating margin for International was 15.8% in the third quarter of 2026, flat compared to the third quarter of 2025. Adjusted EBITDA margin for International was 30.9% in the third quarter of 2026 compared to 31.3% in the third quarter of 2025. Latin America revenue was $114.1 million, up 12% compared to the third quarter of 2025 on a reported basis and up 8% on a local currency basis. Europe revenue was $105.5 million, up 3% compared to the third quarter of 2025 on a reported basis and up 4% on a local currency basis. Asia Pacific revenue was $107.7 million, up 20% compared to the third quarter of 2025 on a reported basis and up 12% on a local currency basis. Canada revenue was $72.2 million, up 2% compared to the third quarter of 2025 on a reported basis and up 4% on a local currency basis. Adjusted EPS and Adjusted EBITDA Margin

Adjusted EPS attributable to Equifax was $2.26 in the third quarter of 2026, up 11% compared to the third quarter of 2025. Adjusted EBITDA margin was 33.1% in the third quarter of 2026, up compared to 32.7% in the third quarter of 2025. These financial measures exclude certain items as described further in the Non-GAAP Financial Measures section below. 2026 Fourth Quarter and Full Year Guidance

Q4 2026

FY 2026

Low-End

High-End

Low-End

High-End

Reported Revenue

$1.605 billion

$1.635 billion

$6.646 billion

$6.676 billion

Reported Revenue Growth

3.5 %

5.4 %

9.4 %

9.9 %

Local Currency Growth (1)

3.1 %

5.0 %

8.5 %

9.0 %

Organic Local Currency Growth (1)

3.0 %

4.9 %

8.4 %

8.9 %

Adjusted Earnings Per Share

$2.07 per share

$2.17 per share

$8.45 per share

$8.55 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 over 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 October 20, 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, 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 and antitrust litigation costs. 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 September 30,

2026

2025

(In millions, except per share amounts)

Operating revenue

$           1,692.5

$           1,544.9

Operating expenses:

Cost of services (exclusive of depreciation and amortization below)

752.4

663.2

Selling, general and administrative expenses

390.4

434.1

Depreciation and amortization

194.4

183.3

     Total operating expenses

1,337.2

1,280.6

Operating income

355.3

264.3

Interest expense

(62.3)

(52.2)

Other income, net

3.8

3.2

Consolidated income before income taxes

296.8

215.3

Provision for income taxes

(83.4)

(53.8)

Consolidated net income

213.4

161.5

Less: Net income attributable to noncontrolling interests including redeemable noncontrolling interests

(1.7)

(1.3)

Net income attributable to Equifax

$             211.7

$             160.2

Basic earnings per common share:

Net income attributable to Equifax

$               1.80

$               1.30

Weighted-average shares used in computing basic earnings per share

117.3

123.1

Diluted earnings per common share:

Net income attributable to Equifax

$               1.79

$               1.29

Weighted-average shares used in computing diluted earnings per share

118.1

124.1

Dividends per common share

$               0.56

$               0.50

EQUIFAX INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

September 30, 2026

December 31, 2025

(In millions, except par values)

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents

$              192.9

$             180.8

Trade accounts receivable, net of allowance for doubtful accounts of $17.9 and $20.2 at
September 30, 2026 and December 31, 2025, respectively

1,104.2

1,012.7

Prepaid expenses

147.5

144.2

Other current assets

142.0

74.5

     Total current assets

1,586.6

1,412.2

Property and equipment:

Capitalized internal-use software and system costs

3,002.3

3,098.2

Data processing equipment and furniture

230.9

239.3

Land, buildings and improvements

297.8

299.6

     Total property and equipment

3,531.0

3,637.1

Less accumulated depreciation and amortization

(1,607.9)

(1,704.7)

     Total property and equipment, net

1,923.1

1,932.4

Goodwill

6,809.4

6,745.7

Indefinite-lived intangible assets

94.7

94.8

Purchased intangible assets, net

1,165.8

1,331.3

Other assets, net

357.5

347.8

   Total assets

$           11,937.1

$          11,864.2

LIABILITIES AND EQUITY

Current liabilities:

Short-term debt and current maturities of long-term debt

$              157.7

$           1,038.0

Accounts payable

115.3

206.4

Accrued expenses

300.7

276.3

Accrued salaries and bonuses

228.6

286.1

Deferred revenue

112.8

101.2

Other current liabilities

544.7

427.4

Total current liabilities

1,459.8

2,335.4

Long-term debt

5,049.0

4,055.3

Deferred income tax liabilities, net

459.9

390.8

Long-term pension and other postretirement benefit liabilities

100.9

103.4

Other long-term liabilities

253.4

241.1

Total liabilities

7,323.0

7,126.0

Redeemable noncontrolling interests

120.8

114.4

Equifax shareholders' equity:

Preferred stock, $0.01 par value: Authorized shares - 10.0; Issued shares - none

—

—

Common stock, $1.25 par value: Authorized shares - 300.0;

Issued shares - 189.3 at September 30, 2026 and December 31, 2025;

Outstanding shares - 117.1 and 120.4 at September 30, 2026 and December 31, 2025, respectively

236.6

236.6

Paid-in capital

2,100.5

2,023.4

Retained earnings

6,811.9

6,445.1

Accumulated other comprehensive loss

(441.2)

(517.1)

Treasury stock, at cost, 71.6 and 68.3 shares at September 30, 2026 and December 31, 2025,
respectively

(4,229.1)

(3,577.8)

Stock held by employee benefits trusts, at cost, 0.6 shares at September 30, 2026 and
December 31, 2025

(5.9)

(5.9)

Total Equifax shareholders' equity

4,472.8

4,604.3

Noncontrolling interests

20.5

19.5

Total shareholders' equity

4,493.3

4,623.8

Total liabilities, redeemable noncontrolling interests, and shareholders' equity

$           11,937.1

$          11,864.2

EQUIFAX INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS 

Nine Months Ended September 30,

2026

2025

(In millions)

(Unaudited)

Operating activities:

Consolidated net income

$            571.8

$            487.9

Adjustments to reconcile consolidated net income to net cash provided by operating activities:

Depreciation and amortization

572.6

540.8

Stock-based compensation expense

74.5

63.9

Deferred income taxes

73.5

29.6

Gain on sale of equity investment

—

(0.8)

Changes in assets and liabilities, excluding effects of acquisitions:

Accounts receivable, net

(91.7)

(45.6)

Other assets, current and long-term

(95.7)

(10.3)

Current and long term liabilities, excluding debt

37.1

79.4

Cash provided by operating activities

1,142.1

1,144.9

Investing activities:

Capital expenditures

(378.9)

(351.4)

Cash received from divestitures

—

0.8

Cash used in investing activities

(378.9)

(350.6)

Financing activities:

Net short-term payments

(604.8)

(204.1)

Payments on long-term debt

(276.4)

—

Proceeds from issuance of long-term debt

998.1

1.7

Treasury stock purchases

(652.0)

(427.4)

Payment of share repurchase excise tax

(8.3)

—

Dividends paid to Equifax shareholders

(199.4)

(172.0)

Distributions paid to noncontrolling interests

(5.6)

(6.2)

Proceeds from exercise of stock options and employee stock purchase plan

23.8

38.1

Payment of taxes related to settlement of equity awards

(15.7)

(13.6)

Debt issuance costs

(7.9)

—

Cash used in financing activities

(748.2)

(783.5)

Effect of foreign currency exchange rates on cash and cash equivalents

(2.9)

8.3

Increase in cash and cash equivalents

12.1

19.1

Cash and cash equivalents, beginning of period

180.8

169.9

Cash and cash equivalents, end of period

$            192.9

$            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 September 30,

Local
Currency

Organic
Local
Currency

Operating revenue:

2026

2025

$ Change

% Change

% Change (1)

% Change (2)

Verification Services

$          603.2

$          553.6

$        49.6

9 %

9 %

Employer Services

90.7

95.8

(5.1)

(5) %

(5) %

Total Workforce Solutions

693.9

649.4

44.5

7 %

7 %

Online Information Solutions

529.7

467.5

62.2

13 %

13 %

Financial Marketing Services

69.4

62.7

6.7

11 %

11 %

Total U.S. Information Solutions

599.1

530.2

68.9

13 %

13 %

Latin America

114.1

102.1

12.0

12 %

8 %

8 %

Europe

105.5

102.3

3.2

3 %

4 %

4 %

Asia Pacific

107.7

90.1

17.6

20 %

12 %

12 %

Canada

72.2

70.8

1.4

2 %

4 %

4 %

Total International

399.5

365.3

34.2

9 %

7 %

7 %

     Total operating revenue

$        1,692.5

$        1,544.9

$       147.6

10 %

9 %

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, 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 aggregated tax impact of these adjustments:

Three Months Ended September 30,

(In millions, except per share amounts)

2026

2025

$ Change

% Change

Net income attributable to Equifax

$          211.7

$          160.2

$      51.5

32 %

Acquisition-related amortization expense of certain acquired intangibles (1)

59.9

62.7

(2.8)

(4) %

Accrual for legal and regulatory matters related to the 2017 cybersecurity incident (2)

0.2

0.3

(0.1)

(33) %

Foreign currency impact of certain intercompany loans (3)

—

(0.1)

0.1

nm

Acquisition-related costs other than acquisition amortization (4)

8.9

8.9

—

— %

Income tax effects of stock awards that are recognized upon vesting or settlement (5)

—

(0.5)

0.5

nm

Argentina highly inflationary foreign currency adjustment (6)

0.4

0.7

(0.3)

(43) %

Realignment of resources and other costs (7)

—

43.9

(43.9)

nm

Antitrust litigation costs (8)

0.8

4.3

(3.5)

(81) %

Tax impact of adjustments (9)

(14.5)

(27.5)

13.0

(47) %

Adjusted net income attributable to Equifax

$          267.4

$          252.9

$      14.5

6 %

Adjusted diluted EPS attributable to Equifax

$           2.26

$           2.04

$      0.22

11 %

Weighted-average shares used in computing diluted EPS

118.1

124.1

     nm - not meaningful

(1)

During the third quarter of 2026, we recorded acquisition-related amortization expense of certain acquired intangibles of $59.9 million ($48.0 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 $11.9 million of tax is comprised of $15.9 million of tax expense, net of $4.0 million of a cash income tax benefit. During the third quarter of 2025, we recorded acquisition-related amortization expense of certain acquired intangibles of $62.7 million ($50.2 million, net of tax). The $12.5 million of tax is comprised of $16.7 million of tax expense, net of $4.2 million of a cash income tax benefit. See the Notes to this reconciliation for additional detail.

(2)

During the third quarter of 2026 and 2025, we recorded an accrual for legal and regulatory matters related to the 2017 cybersecurity incident of $0.2 million ($0.2 million, net of tax) and $0.3 million ($0.2 million, net of tax), respectively. See the Notes to this reconciliation for additional detail.

(3)

During the third 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 third quarter of 2026 and 2025, we recorded $8.9 million ($6.4 million, net of tax) and $8.9 million ($6.2 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)

During the third quarter of 2025, we recorded a tax benefit of $0.5 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.

(6)

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 third quarter of 2026 and 2025, we recorded a foreign currency loss of $0.4 million and $0.7 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.

(7)

During the third quarter of 2025, we recorded $43.9 million ($32.8 million, net of tax) of restructuring charges for the realignment of resources and other costs, which predominantly related to the reduction of headcount to support the Company's global strategic objectives. See the Notes to this reconciliation for additional detail.

(8)

During the third quarter of 2026 and 2025, we recorded costs related to antitrust litigation pertaining to our Workforce Solutions business unit in the amount of $0.8 million ($0.7 million, net of tax) and $4.3 million ($3.2 million, net of tax), respectively. See the Notes to this reconciliation for additional detail.

(9)

During the third quarter of 2026, we recorded the tax impact of adjustments of $14.5 million comprised of (i) acquisition-related amortization expense of certain acquired intangibles of $11.9 million ($15.9 million of tax expense, net of $4.0 million of cash income tax benefit), (ii) a tax adjustment of $2.5 million related to acquisition-related costs other than acquisition amortization and (iii) a tax adjustment of $0.1 million related to antitrust litigation costs.

During the third quarter of 2025, we recorded the tax impact of adjustments of $27.5 million comprised of (i) acquisition-related amortization expense of certain acquired intangibles of $12.5 million ($16.7 million of tax expense, net of $4.2 million of cash income tax benefit), (ii) a tax adjustment of $0.1 million related to an accrual for legal and regulatory matters related to the 2017 cybersecurity incident, (iii) a tax adjustment of $2.7 million related to acquisition-related costs other than acquisition amortization, (iv) a tax adjustment of $11.1 million related to restructuring charges, and (v) a tax adjustment of $1.1 million related to antitrust litigation costs.

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, 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 and presentation of adjusted EBITDA margin: 

Three Months Ended September 30,

 (In millions)

2026

2025

$ Change

% Change

Revenue

$      1,692.5

$      1,544.9

$     147.6

10 %

Net income attributable to Equifax

$       211.7

$        160.2

$      51.5

32 %

Income taxes

83.4

53.8

29.6

55 %

Interest expense, net*

60.4

49.5

10.9

22 %

Depreciation and amortization

194.4

183.3

11.1

6 %

Accrual for legal and regulatory matters related to 2017 cybersecurity incident (1)

0.2

0.3

(0.1)

(33) %

Foreign currency impact of certain intercompany loans (2)

—

(0.1)

0.1

nm

Acquisition-related costs other than acquisition amortization (3)

8.9

8.9

—

— %

Argentina highly inflationary foreign currency adjustment (4)

0.4

0.7

(0.3)

(43) %

Realignment of resources and other costs (5)

—

43.9

(43.9)

nm

Antitrust litigation costs (6)

0.8

4.3

(3.5)

(81) %

Adjusted EBITDA, excluding the items listed above

$       560.2

$        504.8

$      55.4

11 %

Adjusted EBITDA margin

33.1 %

32.7 %

nm - not meaningful

*Excludes interest income of $1.9 million in the third quarter of 2026 and $2.7 million in the third quarter of 2025.

(1)

During the third quarter of 2026 and 2025, we recorded an accrual for legal and regulatory matters related to the 2017 cybersecurity incident of $0.2 million ($0.2 million, net of tax) and $0.3 million ($0.2 million, net of tax), respectively. See the Notes to this reconciliation for additional detail.

(2)

During the third 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.

(3)

During the third quarter of 2026 and 2025, we recorded $8.9 million ($6.4 million, net of tax) and $8.9 million ($6.2 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.

(4)

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 third quarter of 2026 and 2025, we recorded a foreign currency loss of $0.4 million and $0.7 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.

(5)

During the third quarter of 2025, we recorded $43.9 million ($32.8 million, net of tax) of restructuring charges for the realignment of resources and other costs, which predominantly related to the reduction of headcount to support the Company's global strategic objectives. See the Notes to this reconciliation for additional detail.

(6)

During the third quarter of 2026 and 2025, we recorded costs related to antitrust litigation pertaining to our Workforce Solutions business unit in the amount of $0.8 million ($0.7 million, net of tax) and $4.3 million ($3.2 million, net of tax), respectively. 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, 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 and presentation of adjusted EBITDA margin for each of the segments:

(In millions)

Three Months Ended September 30, 2026

Workforce
Solutions

U.S.
Information
Solutions

International

General
Corporate
Expense

Total

Revenue

$       693.9

$       599.1

$       399.5

—

$     1,692.5

Operating income

306.3

145.4

63.1

(159.5)

355.3

Depreciation and amortization

50.3

66.0

52.6

25.5

194.4

Other (expense) income, net*

(0.1)

0.5

2.5

(1.0)

1.9

Noncontrolling interest

—

—

(1.7)

—

(1.7)

Adjustments (1)

0.4

—

7.1

2.8

10.3

Adjusted EBITDA

$       356.9

$       211.9

$       123.6

$        (132.2)

$       560.2

Operating margin

44.1 %

24.3 %

15.8 %

nm

21.0 %

Adjusted EBITDA margin

51.4 %

35.4 %

30.9 %

nm

33.1 %

nm - not meaningful

*Excludes interest income of $1.3 million in International and $0.6 million in General Corporate Expense.

(In millions)

Three Months Ended September 30, 2025

Workforce
Solutions

U.S.
Information
Solutions

International

General
Corporate
Expense

Total

Revenue

$       649.4

$        530.2

$        365.3

—

$      1,544.9

Operating income

284.5

123.3

57.7

(201.2)

264.3

Depreciation and amortization

47.2

62.8

48.1

25.2

183.3

Other income (expense), net*

—

0.6

0.8

(0.9)

0.5

Noncontrolling interest

—

—

(1.3)

—

(1.3)

Adjustments (1)

1.0

(0.1)

9.1

48.0

58.0

Adjusted EBITDA

$       332.7

$        186.6

$        114.4

$        (128.9)

$        504.8

Operating margin

43.8 %

23.2 %

15.8 %

nm

17.1 %

Adjusted EBITDA margin

51.2 %

35.2 %

31.3 %

nm

32.7 %

nm - not meaningful

*Excludes interest income of $2.4 million in International and $0.3 million in General Corporate Expense.

(1)

During the third quarter of 2026, we recorded pre-tax expenses of $0.2 million for an accrual for legal and regulatory matters related to the 2017 cybersecurity incident, $8.9 million for acquisition-related costs other than acquisition amortization, $0.4 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 and $0.8 million of antitrust litigation costs.

During the third quarter of 2025, we recorded pre-tax expenses of $0.3 million for an accrual for legal and regulatory matters related to the 2017 cybersecurity incident, a $0.1 million foreign currency gain on certain intercompany loans, $8.9 million for acquisition-related costs other than acquisition amortization, a foreign currency loss of $0.7 million related to the impact of remeasuring the peso denominated monetary assets and liabilities as a result of Argentina being a highly inflationary economy, $43.9 million of restructuring charges for the realignment of resources and other costs and $4.3 million of antitrust litigation 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 third quarter of 2026 and 2025, we recorded acquisition-related amortization expense of certain acquired intangibles of $59.9 million ($48.0 million, net of tax) and $62.7 million ($50.2 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 third quarter of 2026 and 2025, we recorded an accrual for legal and regulatory matters related to the 2017 cybersecurity incident of $0.2 million ($0.2 million, net of tax) and $0.3 million ($0.2 million, net of tax), respectively. 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.

Foreign currency impact of certain intercompany loans - During the third quarter of 2025, we recorded a foreign currency gain of $0.1 million on 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 third quarter of 2026 and 2025, we recorded $8.9 million ($6.4 million, net of tax) and $8.9 million ($6.2 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 third quarter of 2025, we recorded a tax benefit of $0.5 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 September 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 $0.4 million and $0.7 million during the third 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 third quarter of 2025, we recorded $43.9 million ($32.8 million, net of tax) of restructuring charges for the realignment of resources and other costs, which predominantly related to the reduction of headcount to support the Company's global strategic objectives. 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 third quarter of 2026 and 2025, we recorded costs related to antitrust litigation pertaining to our Workforce Solutions business unit in the amount of $0.8 million ($0.7 million, net of tax) and $4.3 million ($3.2 million, net of tax), respectively. 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.

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.

Contact:

    Trevor Burns

Kate Walker

Investor Relations

Media Relations

[email protected]

[email protected]

SOURCE Equifax Inc.

A mother in Atlanta signed her name on $103,000 worth of loans for her boyfriend's construction company, then called Dave Ramsey to ask about borrowing $10,000 more. The hosts had a very different question for her.

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Louisa of Atlanta asked The Ramsey Show a money question. Should she borrow “those 10k” from her 401(k)? The answer was “You’re not listening.” After that, the call was about getting a mother and her 2-year-old out of the house, and the debt came second.

Dave Ramsey’s show has spent decades preaching debt freedom. On the episode that aired October 14, 2026, Louisa said she had about $103,000 of debt taken on for her boyfriend’s construction company.

Most of it was a $60,000 truck loan, roughly $10,000 upside down. The rest was a $22,000 business credit card she opened because he asked her to. (A host later rounded the card to $25,000.)

She takes home about $5,100 a month on an $85,000 salary. She said she worked her way through college without borrowing, not even for a car. Her mother lives in Florida, so she has no family nearby.

The hosts told her to let the truck be repossessed, freeze her credit so he could not borrow against her again, call her therapist, and leave: “If you’re not safe, you need to be gone when he gets home tonight.” One host said, “Screw the debt. Screw him. He’s not a father. He’s an abuser.” Later, that same host walked it back to “not necessarily an abuser.”

On the money, the hosts were right.

Why a $10,000 401(k) Loan Would Fix Almost Nothing A $10,000 loan would cover about 10% of what she owes. And the card keeps growing.

At an example rate of 24%, a $22,000 balance runs about $440 a month in interest alone. That’s roughly 9% of her take-home pay, and it doesn’t shrink the balance at all.

The tax rules make it worse. Under 26 U.S.C. § 72(p)(1)(A), a plan loan counts as a distribution unless it meets specific exceptions. If she leaves her job before paying it back, the unpaid balance can become a “plan loan offset amount” under § 402(c)(3)(C) and get taxed as income. On top of that comes the 10% additional tax on early distributions under § 72(t)(1). Someone who may need to move in a hurry is exactly the person most likely to trigger that.

Letting a $60,000 Truck Go Still Leaves a Bill A repossession doesn’t erase the loan. If she owes $60,000 and is $10,000 upside down, the truck is worth about $50,000.

Say it sells at auction for 80% of that value (a hypothetical). She would still owe about $20,000, plus fees.

Even so, a fixed $20,000 shortfall beats making payments with no end date on a vehicle she bought for someone else’s business.

Ramsey’s Own Warning About Small Businesses Explains Her Trap Earlier in the same episode, a Canadian construction owner named Jay described growing from $128,000 to $30 million in five years with very little debt. Ramsey told him to fire the advisors pushing a bank credit line. His reasoning: “80% of small businesses in America fail. Number one cause: cash flow shortage, caused by two things: screwing up tax planning, and going into debt. As soon as there’s a slowdown, they got run out of business because the bank owns their butt.”

Louisa’s boyfriend’s company is owed about $60,000 in invoices and has not been paid in two months. That’s the cash crunch Ramsey described. What decides who gets hurt is whose signature is on the loan. When a business borrows in its own name, a slowdown hits the business. When it borrows on a girlfriend’s signature, the slowdown hits her credit, and the debt itself becomes the reason she felt she could not leave.

Do These Four Things If Your Name Is on a Partner’s Debt Freeze your credit at Equifax (NYSE:EFX | EFX Price Prediction), Experian, and TransUnion (NYSE:TRU). A freeze is free, and it blocks anyone from opening new accounts in your name. This was the hosts’ first piece of practical advice. Pull all three credit reports and list every account in your name. Dispute anything you didn’t open. Under federal credit reporting law, identity theft victims have additional rights, and you can file a complaint with the Consumer Financial Protection Bureau. Run the deficiency math before you hand over the keys. Get the payoff amount from the lender and look up the vehicle’s wholesale value. That difference is roughly what you’ll still owe, so you can plan for it instead of being surprised. Leave the 401(k) alone and put your safety first. The National Domestic Violence Hotline treats coerced debt as a form of abuse. You can call 1.800.799.SAFE (7233) or text “START” to 88788. It’s free and confidential. You can pay down debt someone talked you into, but first make sure they can’t add any more in your name.

Contact [email protected] for any questions or corrections.

Expanded collaboration with Mastercard Open Finance extends access to consumer-permissioned financial insights alongside Equifax credit data

Equifax is providing more open banking choice for lenders and fintechs through consumer-permissioned insights from Mastercard Open Finance.
Lenders and fintechs can choose the cash flow data option that fits their needs and use it alongside Equifax credit data in their credit decisions.
Cash flow data insights allow individuals to build a more complete financial profile, helping lenders expand access to credit to the 76.1 million thin-file or credit-invisible consumers in the U.S.1

, /PRNewswire/ -- Equifax® (NYSE: EFX) is expanding its open banking solutions with the addition of consumer-permissioned insights enabled via Mastercard Open Finance, giving lenders and fintechs more choice in the open finance provider they use alongside the Equifax consumer credit file. Mastercard Open Finance's Cashflow Analytics, Payment Risk Insights and Transaction Report are now available to Equifax customers.

Building on a longstanding commitment to expanding financial access, the full suite of Equifax Open Banking Solutions utilizes consumer-permissioned cash flow insights to integrate bank transaction data, attributes, or scores into lending and portfolio management strategies. This enhanced visibility helps consumers create a more robust personal financial profile and enables financial institutions to responsibly broaden credit access and streamline approvals for the 76.1 million thin-file or credit invisible U.S. consumers1.

These expanded solutions convert complex bank transaction streams into actionable, real-time credit intelligence designed for seamless integration into existing underwriting stacks:

Cashflow Analytics analyzes up to 24 months of credits, debits, and balances to produce cash flow attributes lenders can use in underwriting.
Payments Risk Insights delivers a score that helps lenders predict repayment risk and spot early signs of repayment stress.
Transaction Report provides six+ months of cleansed, categorized, and enhanced bank transaction data, giving lenders more flexibility to utilize cash flow in their underwriting and decisioning models.

"Financial institutions have diverse operational needs, meaning a single cash flow partner does not necessarily fit each organization's needs. Our goal is to give our customers the flexibility to choose the open finance provider that works for them and provide that data alongside Equifax credit and alternative data to make confident decisions that can open up new opportunities for consumers," said Jacob Osborne, Senior Vice President and General Manager, Fintech and Payments at Equifax.

Each organization's requirements for cash flow data can vary across product types from personal loans to credit cards to commercial credit lines, because each carries its own repayment structure, risk profile, and decisioning needs. Equifax gives lenders a choice of solution and open finance provider to best fit its specific consumers, systems, and strategy. This open approach is designed to eliminate integration friction, speed up deployment, and help lenders make confident decisions across every product line.

"As lenders and fintechs look to gain a more complete view of financial health, access to trusted, consumer-permissioned cash flow insights becomes increasingly important," said Bart Willaert, Executive Vice President, Open Finance, Americas, Mastercard. "Our collaboration with Equifax will help organizations make faster, more confident decisions while unlocking new opportunities to expand access to credit."

Whether a lender prefers to analyze detailed attributes or rely on ready-made scores that leverage bank transaction data, Equifax can help through our Equifax Open Banking Solutions.

Mastercard Open Finance solutions are provided by Finicity Corporation, a Mastercard company.

1 Equifax data and analytics

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]

SOURCE Equifax Inc.

Wall Street expects a year-over-year increase in earnings on higher revenues when Equifax (EFX - Free Report) reports results for the quarter ended September 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 earnings report, which is expected to be released on October 20, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability 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 +8.3%.

Revenues are expected to be $1.69 billion, up 9.6% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level. 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 an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

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 -2.02%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that Equifax will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. 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 $2.21 per share when it actually produced earnings of $2.25, delivering a surprise of +1.81%.

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.

Nearly 2,000 Mortgage Lenders Implementing Modern, Alternative Data-Driven Scoring Model; Equifax Extends $1 VantageScore 4.0 Pricing through the End of 2028 to Drive Industry Adoption, Homeownership Affordability, and Cost Savings

Nearly 2,000 mortgage lenders and resellers are taking advantage of the Equifax offer of free VantageScore® 4.0 credit scores with paid legacy scores, and more than 165 lenders are exclusively using VantageScore 4.0 at the $1 price for certain types of loans. Equifax maintains $1 VantageScore 4.0 mortgage credit score pricing through the end of 2028 to expand industry adoption, reduce loan acquisition costs, and drive potential $1 billion in industry cost savings. Equifax continues to enhance the value of mortgage solutions by delivering The Work Number® Report Indicator and additional alternative data including telco, pay TV and utilities attributes alongside the Equifax mortgage credit report at no additional cost. , /PRNewswire/ -- Equifax® (NYSE: EFX) today announced a significant milestone in mortgage scoring modernization, with nearly 2,000 lenders taking advantage of free VantageScore® 4.0 credit scores with paid legacy scores from April 2026 through September 2026, including a 230% increase in VantageScore 4.0 credit scores pulled between April 2026 and August 2026 for mortgages. This accelerated mortgage lender adoption follows Federal Housing Finance Agency (FHFA) approval of VantageScore 4.0 for use in Fannie Mae and Freddie Mac mortgages. Mortgage lenders are rapidly embracing this modern scoring model and Fair Credit Reporting Act (FCRA) governed alternative data not included in traditional credit reports to expand access to credit and drive housing affordability for millions of Americans.

"Our AI technology helps borrowers see their best loan options in minutes. With lenders now able to choose their credit score model, we added VantageScore 4.0 as one of the scoring models we use, giving us more flexibility in how we evaluate applicants, while keeping the experience quick and easy," said Magesh Sarma, Chief Operating Officer, AmeriSave Mortgage Corporation.

Equifax is maintaining $1 VantageScore 4.0 mortgage credit score pricing through the end of 2028 to expand adoption, reduce loan acquisition costs, and drive a potential $1 billion in cost savings for the industry and consumers from the cost difference among score providers.

"The landmark decision by FHFA Director William Pulte and Housing and Urban Development Secretary Scott Turner to open VantageScore 4.0 for use across both conventional and FHA-insured loans has advanced homebuying into a new era of credit scoring competition that drives greater performance and cost savings for both lenders and consumers," said Mark W. Begor, CEO of Equifax. "We are seeing strong momentum across the mortgage sector as lenders rapidly adopt VantageScore 4.0 to drive better decisioning and expand access to credit."

More data drives better decisions
VantageScore 4.0 utilizes up to 24 months of trended data and incorporates alternative data, such as rental, utility, and telco payment histories, providing lenders with a more comprehensive view of borrower creditworthiness without adding additional risk. The model provides deeper financial insights that can deliver a 20% lift in originations and generate credit scores for consumers with thin credit files.

"The strong industry adoption has been driven by years of preparation by our teams to ensure that VantageScore 4.0 could be accessible to all lenders, allowing them to effectively test and evaluate the score through their processes," said Joel Rickman, General Manager and SVP of U.S. Mortgage and Verification Services at Equifax. "Equifax is deeply committed to supporting the mortgage industry and the consumers we serve, especially as we navigate the most difficult mortgage market in decades. We view our role in expanding homeownership as a vital responsibility while delivering significant savings to consumers and the mortgage industry."

Equifax remains the only Nationwide Consumer Reporting Agency to provide alternative data insights - such as payment histories for telco, pay TV, and utilities - alongside tri-merge consumer credit reports for the mortgage market at no additional cost to lenders. Equifax also empowers lenders with early access to an employment indicator through its suite of The Work Number® Report Indicator solutions at no additional cost including:

The Work Number® Report Indicator for Mortgage: Streamlines underwriting workflows by providing an indicator of whether data from The Work Number is available on the applicant For more information about Equifax mortgage solutions and VantageScore 4.0, please visit our website.

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] 

SOURCE Equifax Inc.

Equifax is set to report Q3 results on the 20th of October, with market focus on 2027 guidance and operational commentary rather than near-term EPS or revenue beats. Analyst expectations for Q3 are muted, with 15 downward EPS revisions in 90 days and revenue growth projected at 10% y/y, aligning with management's guidance. I am closely monitoring mortgage trends, VantageScore adoption, non-mortgage demand, government contract conversion, and AI-driven cost savings for the forward outlook.

, /PRNewswire/ -- Equifax® (NYSE: EFX) will announce its financial results for the third quarter ended September 30, 2026, in a release to be issued on Tuesday, October 20, at 6:30 a.m. Eastern Time (ET).

Equifax will host a conference call at 8:30 a.m. ET on October 20, in which senior management will discuss financial and business results for the quarter. Related presentation materials will be published on investor.equifax.com on October 20 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 October 21.

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]

SOURCE Equifax Inc.

Equifax, Inc. (NYSE:EFX – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $213.95.

EFX has been the subject of a number of recent analyst reports. Citigroup decreased their target price on shares of Equifax from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Equifax from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 13th. UBS Group reaffirmed a “buy” rating and issued a $220.00 price target on shares of Equifax in a research note on Wednesday, July 8th. BNP Paribas Exane increased their price objective on shares of Equifax from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Finally, BMO Capital Markets lowered their price objective on shares of Equifax from $195.00 to $179.00 and set a “market perform” rating on the stock in a research note on Monday, July 13th.

View Our Latest Stock Report on Equifax

Insider Buying and Selling at Equifax In related news, EVP John Gamble sold 4,500 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $187.96, for a total transaction of $845,820.00. Following the completion of the transaction, the executive vice president owned 69,055 shares of the company’s stock, valued at $12,979,577.80. This trade represents a 6.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark W. Begor sold 37,791 shares of the firm’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 transaction, the chief executive officer directly owned 271,890 shares of the company’s stock, valued at $46,808,582.40. This represents a 12.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by company insiders. Institutional Investors Weigh In On Equifax A number of institutional investors and hedge funds have recently bought and sold shares of the business. Reflection Asset Management acquired a new position in shares of Equifax in the 4th quarter worth approximately $26,000. MV Capital Management Inc. acquired a new stake in Equifax during the fourth quarter valued at approximately $31,000. Clearstead Trust LLC bought a new stake in Equifax during the second quarter worth approximately $28,000. Ballast Advisors LLC bought a new stake in Equifax during the first quarter worth approximately $33,000. Finally, Hantz Financial Services Inc. grew its position in Equifax by 630.8% in the fourth quarter. Hantz Financial Services Inc. now owns 190 shares of the credit services provider’s stock worth $41,000 after buying an additional 164 shares during the last quarter. 96.20% of the stock is owned by institutional investors and hedge funds.

Equifax Stock Down 3.6% Shares of Equifax stock opened at $140.60 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.60 and a quick ratio of 0.60. Equifax has a 1-year low of $138.15 and a 1-year high of $258.32. The business’s fifty day moving average price is $175.40 and its two-hundred day moving average price is $173.08. The company has a market capitalization of $16.52 billion, a P/E ratio of 24.71, a PEG ratio of 1.42 and a beta of 1.31.

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 the consensus estimate of $2.20 by $0.05. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Equifax had a return on equity of 21.61% and a net margin of 10.73%.The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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. As a group, research analysts forecast that Equifax will post 8.55 EPS for the current year.

Equifax Announces Dividend The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, August 31st. Equifax’s dividend payout ratio (DPR) is presently 39.37%.

About Equifax (Get Free Report)

Equifax Inc (NYSE: EFX) is a global data, analytics and technology company that helps businesses, government agencies and consumers make informed decisions about credit, identity, employment and financial risk. The company collects and analyzes information from a broad range of sources to provide insights and decisioning tools for lenders, employers, insurers, telecommunications providers and other organizations.

Its products and services include consumer and commercial credit reports, credit scores, fraud and identity-management solutions, marketing and customer-acquisition analytics, and income and employment verification through The Work Number.

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29.9.2026 16:37, COLL*, FICO, CCL

Index Dow Jones -0,2 % na 51377,39 b. S&P 500 -0,01 % na 7683,26 b. Nasdaq Composite +0,05 % na 26834,15 b.

Přední americké indexy otevírají obchodování v blízkosti nuly. Pozornost trhu je nadále směřována k vývoji cen ropy a výnosů na státních amerických dluhopisech. Pozitivně trh hodnotí pokles cen ropy Brent, když Saúdská Arábie obnovila dodávky přes klíčový ropovod. Aktuální výnos na 10letém bondu je na úrovni 5,25 %, což je v blízkosti dvacetiletého maxima.  

Z korporátních zpráv zaujal trhy prospekt společnosti Anthropic, podle kterého výnosy vzrostly meziročně přibližně dvanáctinásobně na 4,6 mld. USD. Provozní ztráta činila 8 mld. USD a čistá ztráta 42 mld. USD. Společnost disponuje hotovostí ve výši 20,3 mld. USD. Společnost se v prospektu zabývala rovněž rizikovými faktory. Jedním z nich je i samotné existenciální riziko pro lidstvo. Právě rizika spojená s AI budou dnes diskutovat představitelé Nvidie, Anthropicu, Palantir Technologies, Mety a OpenAI s Donaldem Trumpem.

Z indexu S&P500 nejvíce posilují akcie společnosti Carnival (+14 %), když přistoupila ke zvýšení celoročního výhledu očištěného zisku na akcii. Provozovatel výletních lodí uvedl, že obsazenost na základě dosavadních rezervací i ceny pro rok 2027 dosahují rekordních úrovní. Naopak výrazně oslabují akcie Fair Isaac Corp (-23 %). Ředitel americké Federální agentury pro financování bydlení (FHFA) oznámil opatření, které poskytovatelům úvěrů usnadní přechod na konkurenční VantageScore.

Index S&P 500 -0,01 % na 7683,26 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Utility +0,6 % Energie -0,8 % Průmysl +0,4 % Nezbytná spotřeba -0,8 % Informační technologie +0,4 % Zdravotní péče -0,8 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Bloom Energy Corp (BE) +13 % Fair Isaac Corp (FICO) -23 % Carnival Corp (CCL) +13 % Equifax (EFX) -2,7 % Lumentum Holdings (LITE) +6,7 % Cadence Design Systems (CDNS) -2,7 % Royal Caribbean Cruises (RCL) +6,5 % Nucor Corp (NUE) -2,7 % Carvana (CVNA) +6,4 % Palo Alto Networks (PANW) -2,6 % Zdroj: Bloomberg

Jakub Němec
Fio banka, a.s.
Prohlášení

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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.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

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 A.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 17.33; value investors should take notice.

Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.02 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.

Measure of U.S. Consumer Financial Health Shows Modest Improvement In Consumer Financial Position Over Previous Quarter

The Q2 2026 Equifax Market Pulse Index rose marginally to 61.3, marking the first pause in the widening K-shaped economic gap in three years. Financial stability improved across every generation despite record-low consumer sentiment, driven primarily by wealth and asset cushions rather than credit scores or annual income alone. , /PRNewswire/ -- Equifax® (NYSE: EFX) today released its second 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 credit score insights. The Market Pulse Index rose slightly from 60.9 to 61.3, showing marginal improvement from the previous quarter, though the national average still sits just below where it stood a year ago.

Generation distribution within Market Pulse Index segments

Credit score* distribution within Market Pulse Index segments For the first time in three years, there was no observation of a widening gap in the K-shaped economy. The Index continues to track three consumer segments — Thrivers (those with an Index above 80), the Middle (those with an Index between 50 and 79), and Strivers (those with an Index of 49 and below) — each experiencing different financial realities.

"We have closely observed the K-shaped economy since the COVID-19 pandemic. For the last three years, we have watched the gap between the top and the bottom of the 'K' widen, while the middle class shrank. In the second quarter of 2026, that pattern paused," said Emmaline Aliff, Advisory Leader at Equifax. "The Middle grew slightly, while the Striver population shrank and the Thriver population grew. One quarter does not make a trend, but this is the first quarter in some time where we have observed some improvement."

The Economic Divide Paused
Movement across the three Market Pulse Index consumer segments ran in the opposite direction from recent quarters. The top-tier Thrivers grew by 3.2%, the Middle, which represents nearly 70% of the U.S. population, expanded slightly by 0.9%, and the more economically sensitive Strivers contracted by 4.2%, the segment's sharpest drop since the fourth quarter of 2023.

Assets Remain the Clearest Dividing Line  
Assets, not income or credit, defined as savings or other sources of wealth that can be used for pending needs or debt obligations if needed, remain the clearest dividing line between the segments. Nearly 78% of Thrivers are considered Affluent, holding more than $1 million in assets that act as a strong economic shield. On the opposite end of the spectrum, over 97% of Strivers are Mass Market, with less than $100,000 in assets, and none are considered Affluent.

The Middle segment is where wealth is most mixed. About 32.4% of all U.S. consumers are Mass Affluent households, having between $100,000 and $1 million in assets, sitting in the Middle. Within that specific segment, the split between Mass Affluent and Mass Market is close to even at 46.8% and 42.9%, respectively. Households at similar asset levels can sit on either side of the Middle depending on their credit, debt, and income.

Every Generation Improves Across The Board
For the first time since the third quarter of 2025, Market Pulse Index values rose across all age segments, with the share of Strivers falling in all four groups:

Millennials led the entire population with a 1.0% quarterly gain to an average Index of 58.7, and posted the largest drop in their Striver share at 1.4 points. Millennials still represent the largest generational group among Strivers at 35.7% of that segment. Generation Z rose 0.6% to an average Index of 59.3, continuing a pattern of steady career integration and financial growth. Gen Z posted the largest gain in Thrivers of any generation, up 0.7 points. Generation X increased 0.8% to an average Index of 60.8 as they continue to balance peak career debt against the cost of essential needs. Boomers+ remain the most financially stable segment with an average Index of 64.5. Their asset cushions anchor both the middle and upper tiers: Boomers+ make up 36.6% of the Middle and 47.8% of Thrivers, the largest generational group in each. Sentiment vs. Reality: Feelings Didn't Match Financial Changes 
Consumer sentiment, as measured by the University of Michigan Survey of Consumers, fell to 49.5 in the second quarter, marking its lowest reading since tracking began. However, this feeling did not match consumers' actual financial status change for the quarter as sentiment continued to fall even though the Market Pulse Index incrementally rose, and late debt payments improved from 2.1% to 1.9%.

Credit Behavior Is Not the Same as Financial Capacity
Additionally, the latest Market Pulse Index data reiterates that consumers' financial position is not the same as a credit score alone. Prime borrowers (scores of 661–780) make up almost exactly the same share of every segment: 30.0% of Strivers, 30.7% of the Middle, and 23.9% of Thrivers.

At the same time, 9.3% of Thrivers hold scores below 660, and 43.5% of Strivers carry prime or super-prime (scores of 781-850) credit. Excellent payment history is widespread across the country, with super-prime representing 38.4% of the entire U.S. population.

What separates Strivers are tight budgets and a lack of assets rather than difficulty meeting credit obligations: 81% of Strivers earn under $65,000 per year, making them highly sensitive to price changes, while nearly 88% of Thrivers earn more than $100,000.

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 credit score 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 credit scores 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]

SOURCE Equifax Inc.

Equifax differentiated data enables businesses to detect account takeovers and synthetic fraud in real time

, /PRNewswire/ -- Equifax® (NYSE: EFX) is expanding its fraud prevention capabilities with the launch of two new intelligence solutions: Signal Score for Email and Signal Score for Device. The new Signal Scores are designed to help e-commerce retailers, financial institutions and telecommunication companies protect their digital platforms - such as online checkout lanes, new account sign-up portals and mobile ordering apps - against sophisticated fraud networks and automated threats.

"Businesses can no longer rely on static snapshots of customers to stop fraud," said Ajay Guru, Senior Vice President and General Manager, Identity & Fraud Services at Equifax. "Leveraging our unique differentiated data, these new solutions are designed to deliver a trust score in real time, giving our customers a better view of a user and helping them to mitigate fraud more quickly."

As digital fraud grows increasingly complex, traditional checks are no longer enough to deter automated threats because they cannot see behind the digital blind spots created by VPNs and emulators. Organizations need real-time intelligence to instantly detect sophisticated tactics like script-driven account farming, location spoofing and synthetic identity fraud before they impact the business.

The new Signal Score for Email and Signal Score for Device solutions are designed to use proprietary Equifax data to evaluate risk instantly at the start of a transaction, keeping the experience simple and secure for legitimate consumers. Unlike traditional industry tools that rely on static global networks or lagging database files, the solutions leverage Equifax non-public, first-party sourced data and unique identity linkage to instantly connect digital session behaviors with trusted, real-world consumer profiles.

Translating Email and Device Signals into Immediate, Actionable Trust Scores

Signal Score for Email: Evaluates an email address in real time. It assesses the age of the account, its history and its risk level to determine if the digital identifier is trustworthy. Signal Score for Device: Analyzes the computer or phone used in a transaction. It connects device details, location data and network information to validate the electronic instrument to the user. The two new Signal Scores connect directly to a company's existing fraud prevention or case management systems through Application Programming Interfaces (APIs), making it easy for businesses to enhance current fraud stacks. Companies can use both tools together or pick one to fill a specific data intelligence gap. Designed specifically for internal fraud and risk teams, the new tools deliver faster, actionable data at critical entry points like new account sign-ups and checkouts.

"Fraud can happen at any step of an online interaction," added Guru. "Our unique data and tools give companies what they need to stop criminals without adding slow, extra steps for valid customers."

By spotting high-risk users early, companies can reduce manual review costs while providing a faster experience for honest consumers.

In addition to the new Signal Scores, Equifax offers Consumer Insights, which uses basic information to help businesses assess fraud risk and payment ability and help compliance and security teams prevent account takeovers.

For more information on the full suite of identity and fraud capabilities and how real-time data empowers faster fraud prevention, visit https://www.equifax.com/business/identity-fraud/.

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]

SOURCE Equifax Inc.

Key Takeaways Equifax's Workforce Solutions revenues rose 7% in Q2, while state-government deals totaled about $300 million.EFX launched 54 AI-enabled products in H1, while expected run-rate savings doubled to $150 million.Equifax's international revenues rose 8%, led by 17% growth in Asia-Pacific and gains across other regions. Equifax’s (EFX - Free Report) growth is driven by steady Workforce Solutions demand and a sizable pipeline of state-government contracts. Artificial intelligence (AI)-enabled product innovation and expanded internal automation are strengthening revenue opportunities while supporting productivity and margin gains. International operations also improve visibility into sustained top-line expansion.

The company’s third-quarter 2026 earnings are expected to increase 8.3% year over year. Its 2026 and 2027 earnings are projected to rise 11.8% and 17.7%, respectively. Revenues are anticipated to grow 10.9% in 2026 and 9.6% in 2027.

Factors That Bode Well for EFX’s SuccessWorkforce Solutions’ Performance Drives Top-Line Growth: Equifax continues to benefit from sustained demand and customer wins in Workforce Solutions. Segment revenues increased 7% year over year to $705.4 million in the second quarter of 2026. Verification Services revenues rose 7% to $607.6 million, supported by high-double-digit growth in Talent Solutions and Consumer Lending. Mortgage revenues advanced 8%, while Employer Services revenues increased 3% to $97.8 million. Equifax signed about $300 million, principally with state-government agreements, including roughly $100 million of new business and $200 million of renewals, supporting future growth.

AI-driven Growth & Productivity: EFX is expanding AI across products and internal operations to improve growth and efficiency. Its Vitality Index reached 16% in the second quarter of 2026, above the 15% full-year goal and 10% long-term framework. The company launched 54 AI-enabled products in the first half, supported by proprietary data that generates more than 90% of revenues across more than 100 global data exchanges. Management doubled its expected AI-driven run-rate savings for 2026-2028 to $150 million from $75 million.

Global Performance Supports Visibility: Equifax’s International revenues increased 8% year over year on a reported basis and 4% in local currency to $383.1 million. Asia Pacific led the growth, with revenues rising 17% to $99.7 million, or 7% on a local currency basis, supported by online business-to-business and commercial offerings. Latin America revenues increased 9% to $109 million, while Canada and Europe grew 6% and 2%, respectively. The broad-based regional gains support a more diversified revenue base and improve visibility into continued international growth.

Watch Out for These Risks to EFX StockElevated Rates Affect Mortgage Market: Higher interest rates continue to weigh on U.S. mortgage activity. Mortgage rates increased to about 6.6% during the second quarter of 2026, while management noted further market weakening as long-term rates moved higher. The company expects 2026 mortgage originations to decline by low single digits. Persistently elevated rates could constrain transaction volumes and temper mortgage-related growth despite recent share gains and new product adoption.

Execution & Adoption Risks: Several growth initiatives depend on timely customer implementation and regulatory approvals. New government contracts may take time to reach full revenue contribution, while broader VantageScore adoption depends partly on additional Federal Housing Finance Agency lender approvals. The recent Círculo acquisition also remains subject to customary closing conditions and regulatory clearance.

EFX’s Zacks Rank & Stocks to ConsiderEquifax currently carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

A couple of better-ranked stocks in the broader Business Services sector are TrueBlue, Inc. (TBI - Free Report) and Trane Technologies plc (TT - Free Report) .

TrueBlue carries a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 14%.

TBI beat earnings estimates in three of the last four reported quarters and missed once, with an average earnings surprise of 22.4%.

Trane Technologies also holds a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 13.7%.

TT delivered a trailing four-quarter earnings surprise of 2.1%, on average.

Equifax Canada data shows average debt per business up 7.3 per cent as financial delinquencies reach a multi-year high; pressure builds among higher-risk businesses

Equifax Canada Market Pulse — Q2 2026 Quarterly Business Credit Trends Release

TORONTO, Sept. 14, 2026 (GLOBE NEWSWIRE) -- Canadian businesses are carrying more debt and showing increasing signs of payment stress with banks and lenders, according to new Equifax Canada Q2 2026 Commercial Credit Trends data. In addition recent changes to trade tariffs are creating additional uncertainty for organizations managing elevated debt and cash flow challenges.

Average commercial debt per business rose 7.3 per cent year-over-year to $30,581 in the second quarter, while the 60+ day delinquency rate on financial credit products reached its highest level since 2019 at 4.0 per cent, up 19.7 per cent year-over-year. “The data continues to show an important divide in how Canadian businesses are managing their financial obligations,” said Jeff Brown, Head of Commercial Solutions at Equifax Canada. “Businesses appear to be doing a better job of staying current with suppliers they depend on to keep operating, all the while payment pressure with banks and lenders continues to build. This suggests many businesses are still making difficult choices about where their cash goes.”

Trade tariffs bring uncertainty for key industries
Recent changes to trade tariffs are affecting selected Canadian exports and creating additional pressure for businesses and sectors already managing elevated debt and cash-flow challenges. Business restructuring proposals surged 30.32 per cent year-over-year. At the same time, late payments to suppliers continued to decrease. The 60+ day delinquency rate for industrial trade credit fell 24.4 per cent year-over-year to 4.26 per cent. "This is a period of significant economic and market uncertainty. Equifax Canada is committed to helping lenders make smart lending decisions so that businesses will have the access to capital they need to keep our economy strong,” noted Brown.

Debt growth increasingly concentrated among higher-risk businesses
The increase in business debt is not being felt evenly across the market. High-risk businesses (which are those with the Equifax Business Failure Risk Score between 1026 and 1060) carried the largest average debt load, at $125,517 per business, up 48.2 per cent year-over-year. Businesses in the highest-risk tier saw average balances more than double, increasing 103.1 per cent to $42,986.

Debt also grew sharply among Canada’s youngest businesses. Companies 12 months old or younger, who often have higher start-up costs, recorded a 71.7 per cent year-over-year increase in average debt balances, reaching $48,173.

“These are the businesses we need to watch closely,” said Brown. “Rising debt is not necessarily a sign of financial distress on its own, particularly for a young or growing business. The concern is when rapidly increasing balances are combined with greater difficulty staying current on financial obligations.”

Businesses also continued to shift away from revolving credit. Average line-of-credit balances declined 14.6 per cent year-over-year to $17,570, while average commercial credit card balances fell 8.9 per cent to $5,412. In contrast, average installment loan balances increased 6.9 per cent to $131,107 which may suggest that businesses are seeking out other debt consolidation solutions.

The number of businesses with at least one 30+ day delinquency fell 3.6 per cent year-over-year to 271,645. However, the severity of late payments on financial products continued to increase.

The 60+ day delinquency rate on commercial credit cards rose 24 per cent year-over-year to 4.07 per cent.

Credit performance shows a widening divide among provinces
Ontario recorded the highest provincial financial-trade delinquency rate at 4.44 per cent, followed by Alberta at 3.93 per cent and Manitoba at 3.68 per cent.

The opposite trend is occurring with supplier payments. Industrial trade delinquencies declined across every region, including decreases of more than 20 per cent in Ontario, Quebec, Alberta, Saskatchewan and British Columbia.

British Columbia entered the second half of 2026 with the highest average commercial debt per business in Canada, at $79,171, while commercial credit inquiries in the province declined 4 per cent year-over-year. Atlantic Canada recorded the fastest increase in average business debt, up 21.2 per cent.

“Lower supplier delinquencies are encouraging, but they should not necessarily be interpreted as evidence that business conditions are broadly improving,” added Brown. “When businesses are staying current with suppliers while falling further behind with lenders, it can be an indication that they are prioritizing the payments most essential to keeping the business operating.”

Businesses remain cautious about new credit
Commercial credit inquiries increased 2.6 per cent overall in the second quarter to 259,720.
Manufacturing credit inquiries declined 3.5 per cent year-over-year. The sector also experienced a 21.9 per cent year-over-year increase in 60+ day bank-loan delinquencies, which reached 4.5 per cent.

More businesses seek restructuring
Separate federal insolvency statistics also point to changing patterns among businesses seeking restructuring. According to the Office of the Superintendent of Bankruptcy, there were 1,281 business insolvency filings during the second quarter of 2026, essentially unchanged from a year earlier. However, bankruptcies declined 8.1 per cent while restructuring proposals increased 30.3 per cent year-over-year.

“The shift suggests that a growing proportion of insolvent businesses are attempting to restructure their obligations rather than move directly to bankruptcy,” noted Brown.

Transportation and Warehousing recorded a 36 per cent year-over-year increase in insolvencies, while Construction recorded the largest number of insolvency filings nationally, at 214, a 2 per cent increase year-over-year.

Businesses enter a period of continued economic and trade uncertainty
The Q2 results come as Canadian businesses face continued uncertainty around economic growth, interest rates, operating costs and the evolving Canada-U.S. trade environment.

“For businesses, that makes managing cash flow and understanding their credit position increasingly important,” concluded Brown. “The data suggests many Canadian companies are being cautious about borrowing while managing higher debt and rising payment pressure.”

Equifax is committed to partnering with small business lenders to support the growth and long-term health of Canadian small businesses, empowering Canada’s financial ecosystem with data and insights to move the Canadian economy forward.

Province Analysis - 60+ days Delinquency Rates (Account Level)

ProvinceDelinquency Rate:
Financial Trades
(Q2 2026)Delinquency Rate
Change: Financial Trades
(Q2 2026 vs. Q2 2025)Delinquency Rate:
Industrial Trades
(Q2 2026)Delinquency Rate
Change: Industrial Trades
(Q2 2026 vs. Q2 2025)Ontario4.44%22.17%4.28%-23.72%Quebec3.57%11.00%3.24%-23.92%Nova Scotia3.11%26.87%4.50%-29.07%New Brunswick3.19%18.38%3.72%-23.38%PEI3.15%23.36%3.10%-32.02%Newfoundland3.46%21.62%3.96%-20.77%Eastern Region3.20%22.59%4.02%-26.60%Alberta3.93%20.78%5.29%-25.20%Manitoba3.68%15.24%3.91%-13.02%Saskatchewan3.34%17.05%5.20%-21.83%British Columbia3.44%17.59%4.99%-23.93%Western Region3.65%18.84%5.00%-23.23%Canada4.00%19.71%4.26%-24.36% * Based on Equifax data for Q2 2026

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.

Contact:
Andrew Findlater
SELECT Public Relations
[email protected]
(647) 444-1197

Angie Andich
Equifax Canada Media Relations
[email protected]

Amundi trimmed its stake in Equifax, Inc. (NYSE:EFX – Free Report) by 9.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 602,081 shares of the credit services provider’s stock after selling 61,484 shares during the period. Amundi owned about 0.51% of Equifax worth $95,562,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in EFX. Cullen Frost Bankers Inc. acquired a new position in Equifax during the fourth quarter worth $25,000. Ameriflex Group Inc. grew its stake in shares of Equifax by 612.5% in the fourth quarter. Ameriflex Group Inc. now owns 114 shares of the credit services provider’s stock valued at $25,000 after buying an additional 98 shares in the last quarter. Reflection Asset Management acquired a new stake in shares of Equifax in the fourth quarter valued at $26,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Equifax in the 4th quarter valued at $26,000. Finally, Clearstead Trust LLC purchased a new stake in shares of Equifax in the 2nd quarter valued at $28,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.

Equifax Stock Down 2.0% EFX stock opened at $168.12 on Thursday. The company’s 50 day moving average price is $179.28 and its 200 day moving average price is $177.34. The firm has a market capitalization of $19.75 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 1.67 and a beta of 1.31. Equifax, Inc. has a fifty-two week low of $150.74 and a fifty-two week high of $271.84. 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 (NYSE:EFX – Get Free Report) last issued 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 quarter in the previous year, the firm earned $2.00 earnings per share. The firm’s quarterly 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. On average, equities research analysts anticipate that Equifax, Inc. will post 8.55 EPS for the current fiscal year. Equifax Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 31st. Equifax’s payout ratio is 39.37%.

Insider Transactions at Equifax In other news, EVP John Gamble sold 4,500 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $187.96, for a total transaction of $845,820.00. Following the sale, the executive vice president owned 69,055 shares of the company’s stock, valued at approximately $12,979,577.80. This trade represents a 6.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark W. Begor sold 37,791 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $172.16, for a total value 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. The trade was a 12.20% decrease in their position. 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 owned by insiders.

Analyst Ratings Changes A number of equities analysts recently commented on the company. Needham & Company LLC lowered their target price on Equifax from $265.00 to $245.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $208.00 price objective on shares of Equifax and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Bank of America reduced their target price on shares of Equifax from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Robert W. Baird decreased their price target on shares of Equifax from $245.00 to $232.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. Finally, Mizuho dropped their price target on shares of Equifax from $222.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, July 2nd. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Equifax has a consensus rating of “Moderate Buy” and a consensus price target of $215.16.

Read Our Latest Analysis on EFX

Equifax Company Profile (Free Report)

Equifax Inc (NYSE: EFX) is a global data, analytics and technology company that provides information solutions to businesses, government agencies and consumers. Its services help organizations assess credit risk, prevent fraud, verify identities, market products and make informed decisions about lending, employment and other transactions.

The company’s offerings include consumer and commercial credit reports, credit scores, fraud-prevention and identity-management tools, income and employment verification services, mortgage and housing data, and workforce-management solutions.

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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.

Equifax rides on proprietary data, verification growth and cloud-AI efficiencies, while compliance and refinancing risks weigh on financial performance.

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

Angie Andich
Equifax Canada Media Relations
[email protected]