# Equifax, Incorporated (EFX) — Stock CV

Equifax, Incorporated is a $17.1B technology company. Revenue grew 10.3% over the last year, it keeps 11¢ of every dollar of sales as profit, and its net debt equals ~4.4 years of free cash flow. It trades at 24.8× earnings — near the lowest of its own history.

> Along with Experian and TransUnion, Equifax is one of the leading credit bureaus in the United States. Equifax's credit reports provide credit histories on millions of consumers, and the firm's services are critical to lenders' credit decisions.

## Identity

- **Ticker**: EFX
- **Sector**: Technology
- **Industry**: Services-Consumer Credit Reporting, Collection Agencies
- **Headquarters**: ATLANTA, GA
- **Employees**: 15 000
- **Website**: https://www.equifax.com
- **Market cap**: $17.1B
- **Last price**: $145.78
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $6.44B
- **Net income**: $691M
- **Free cash flow**: $1.10B
- **Net debt**: $4.91B
- **P/E**: 24.8
- **Revenue growth (YoY)**: 10.3%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 85 |
| Growth | 43 |
| Profitability | 57 |
| Health | 23 |
| Quality | 71 |
| Moat | 24 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +10.3% YoY
- [x] Profitable — $691M TTM
- [ ] Profit growing — -2.0% YoY
- [x] Generates cash — $1.10B TTM
- [x] Debt under control — ~4.4y of cash flow to repay
- [x] Established company — $17.1B market cap
- [x] Not printing shares — +1.1% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 18/100
- [x] Pays a dividend — yield 1.49%
- [x] Valuation not extreme — P/E 24.8

## Experience (career milestones)

- **2023** — It was announced Equifax had acquired the Barueri-headquartered credit bureau, Boa Vista Serviços…
- **FY2021** — Best year on record: $744M net income
- **FY2020** — Positive free cash flow every year since: 6-year streak
- **FY2016** — First recorded profitable year: $489M net income
- **FY2016** — Revenue already above $1B: $3.14B in first reported year
- **2016** — Equifax acquired the Australasian company Veda, the largest credit reference agency in Australia…
- **2015** — Veda had previously acquired the Australian market research and opinion polling company ReachTEL in September 2015
- **2011** — Equifax purchased eThority, a business intelligence (BI) company headquartered in Charleston, South Carolina, in…
- **2010** — Equifax announced it was acquiring Anakam, an identity verification software company headquartered…
- **2001** — Also in 2001, Equifax spun off its payment services division, forming the publicly listed company Certegy
- **1999** — Equifax began offering services to the credit consumer sector in addition, such as credit fraud and…
- **1997** — The company also had a division selling specialist credit information to the insurance industry but spun off this…
- **1994** — Equifax acquired HealthChex Inc., a company that specialized in profiling physicians and reviewing…
- **1899** — Equifax was founded as the Retail Credit Company by Cator and Guy Woolford in Atlanta, Georgia, in 1899

## Strengths

- High gross margin (55.5%)
- Revenue growing 10.3% year over year
- Strong cash conversion — FCF is 17.1% of revenue
- Interest covered 5.2× by operating earnings

## Watch-outs

- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $4.92B | $744M | $866M |
| FY2022 | $5.12B | $696M | $133M |
| FY2023 | $5.27B | $545M | $516M |
| FY2024 | $5.68B | $604M | $813M |
| FY2025 | $6.07B | $660M | $1.13B |

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Source: https://stockcv.com/EFX — derived from company filings; may be delayed or incomplete. Information, not investment advice.