Equifax (EFX) investor relations material

Executive summary

• Q3 revenue was $1,692.5M, up 10% reported and 9% in local currency; diversified markets grew 8% despite a weakening U.S. mortgage market.

• Net income attributable to Equifax rose 32% to $211.7M; adjusted diluted EPS increased 11% to $2.26, while GAAP diluted EPS was $1.79.

• Adjusted EBITDA margin excluding FICO expanded 130 bps to 35.2%, supported by cost management and AI productivity.

Financial highlights

• Operating income rose 34% to $355.3M and operating margin increased to 21.0% from 17.1%.

• Adjusted EBITDA increased 11% to $560.2M; reported adjusted EBITDA margin was 33.1%, up from 32.7%.

• Q3 returned $158M to shareholders: $92M in repurchases and $66M in dividends.

• Nine-month operating cash flow was $1,142.1M; capital expenditures were $378.9M and share repurchases totaled $652.0M.

Outlook and guidance

• FY26 revenue guidance is $6.646B–$6.676B, with a $6.661B midpoint; adjusted EPS is $8.45–$8.55 and adjusted EBITDA is $2,116M–$2,133M.

• FY26 adjusted EBITDA margin guidance excluding FICO increased to 33.8%–34.1%, or 100 bps of expansion; revenue growth excluding FICO royalties is guided at 6.3%–6.8%.

• FY26 free cash flow is expected to exceed $1.0B, with cash conversion above 100%; U.S. mortgage originations are forecast down 6.5%–7.5%.

• Q4 revenue guidance is $1.605B–$1.635B, adjusted EPS $2.07–$2.17 and adjusted EBITDA $529M–$546M; mortgage revenue is expected down mid-single digits.

• Formal 2027 guidance is planned for February; at current mortgage run rates, 2027 U.S. mortgage transactions are expected to decline high single digits YoY, mainly in the first eight months.