EFX
Equifax Inc.Evidence as of 2026-10-15The desk's Snapshot
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Overview · Equifax Inc.
Equifax Inc. operates as a data, analytics, and technology company. The company operates through three segments: Workforce Solutions, U.S. Information Solutions (USIS), and International. The Workforce Solutions segment offers services that enables customers to verify income, employment, educational history, criminal justice data, healthcare professional licensure, and sanctions of people in the United States; and em…
Management team
- Mr. Chad M. Borton · Executive VP & President of Workforce SolutionsFind on LinkedIn
- Mr. Todd Horvath · Executive VP & President of U.S. Information SolutionsFind on LinkedIn
- Mr. Jamil Farshchi · Executive VP, CTO & Chief Information Security OfficerFind on LinkedIn
- Mr. John W. Gamble Jr. · Executive VP, CFO & COOFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.6 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The evidence balance is Cautious ( -0.6 of a possible +2; confidence high). Recent operating results show sequential improvement: revenue rose from $ 1,544,900,000 in Q3 2025 (fiscal quarter ended 2025-10-10) to $ 1,648,900,000 in Q1 2026 (fiscal quarter ended 2026-04-10) and to $ 1,700,100,000 in Q2 2026 (fiscal quarter ended 2026-07-10). Operating income moved from $ 264,300,000 in Q3 2025 to $ 287,700,000 in Q1 2026 and $ 314,200,000 in Q2 2026, while net income rose from $ 160,200,000 to $ 171,500,000 to $ 183,900,000 over the same sequence; diluted EPS followed, from $ 1.29 to $ 1.42 to $ 1.54.
Share count has declined meaningfully — reported common shares outstanding fell from 123,797,380 as of 2025-07-07 to 117,484,896 as of 2026-07-10 and weighted-average diluted shares fell from 124,100,000 in FY 2025 to 119,200,000 in Q2 2026 — supporting the EPS gains. Cash and cash equivalents are shown at $ 170,100,000 as of 2026-06-30, and trailing twelve‑month free cash flow is $ 351.6 million with P/FCF at 50.98; EV/EBITDA is 12.18 and trailing P/E is 26.01. Market signals are mixed-to-negative: multi‑month momentum and relative strength are weak, price sits below the 50‑day and 200‑day moving averages, three‑year drawdown is large ( -54.6% max), and volatility is elevated. Filings add material risk language: the 10‑K filed 19 February 2026 discloses a prior material cybersecurity incident, expands risks around cloud migration and AI use, and highlights reliance on externally sourced data; the 2026 filing is notably more cautious than the 20 February 2025 10‑K.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenue (RevenueFromContractWithCustomerExcludingAssessedTax) increased from $1,544,900,000 in fiscal Q3 2025 (2025-07-01 to 2025-09-30, 3mo) to $1,648,900,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) and to $1,700,100,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo).
XBRL companyfacts · 0000033185-25-000064Operating income (OperatingIncomeLoss) rose from $264,300,000 in fiscal Q3 2025 (2025-07-01 to 2025-09-30, 3mo) to $287,700,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) and to $314,200,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo).
XBRL companyfacts · 0000033185-25-000064Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The 10-K filed 19 February 2026 adds explicit disclosure that the company "has previously experienced a material cybersecurity incident" and warns that additional breaches could cause business interruption, litigation, regulatory fines or penalties and have a "material adverse effect on our cash flows, competitive position, financial condition or results of operations."
10-K filed 2026-02-19The 10-K filed 19 February 2026 materially rewords and expands risk language about the ongoing migration from legacy on-premises systems to cloud-based third-party solutions, noting uncertainty that the technology transformation "will be beneficial to the extent, or within the timeframes expected," and that the estimated efficiency, cost savings and other improvements "will be realized as anticipated or at all."
10-K filed 2026-02-19Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
Momentum measures are negative: 3‑month momentum is -16.3%, 6‑month momentum is -19.3%, and the 12_1 momentum is -34.2%.
Moneyta signal set · 2026-10-14Cross‑sectional momentum percentiles are low: 6‑month momentum ranks in the 15th percentile of 882 and the 12_1 momentum ranks in the 9th percentile of 882.
Moneyta signal set · 2026-10-14Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutional holders reported aggregate holdings valued at "$18.47B" as of 2026-06-30, with 841 holders, 152 exited positions, a quarter-over-quarter value change of -8.5%, and holder_count_delta_qoq of -37.
13F holdings · 841 filers · as of 2026-06-30Top reported institutional holders in the 2026-06-30 13F include BlackRock, Inc. at "$1.49B" (value_qoq_pct -12.5), VANGUARD CAPITAL MANAGEMENT LLC at "$1.23B" (value_qoq_pct -12.4), and HARRIS ASSOCIATES L P at "$1.18B" (value_qoq_pct -12.8).
13F holdings · 841 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Several headlines report Equifax launched a mortgage automation platform called Mortgage Ultimate and related mortgage scoring tools in mid-October 2026.
News · finance.yahoo.com · 2026-10-13Multiple distinct articles — including several on Yahoo Finance and one on simplywall.st — frame recent coverage around Equifax's mortgage product rollout and its implications for the company's data and margin expansion narrative.
News · finance.yahoo.com · 2026-10-14Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Parsed forms show no insider purchases and total insider sales of "$7.4M" over the 180-day window (net shares: "-42291").
Form 4 · Begor Mark W (CEO) · $4.2M code M · 2026-07-24Mark W Begor (CEO) reported multiple open-market sales totaling the items listed in the filing on 2026-07-24, representing individual dispositions of "37791" and several smaller blocks (e.g., "500", "600", "600", "1300", "2936", "4112", "6200", "21543" shares) with dollar amounts shown per line (examples: "$4.2M", "$88k", "$102k", "$101k", "$227k", "$510k", "$711k", "$1.1M", "$3.7M").
Form 4 · Begor Mark W (CEO) · $4.2M code M · 2026-07-24Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
Today's price implies an internal free-cash-flow (FCF) growth rate of about 33.54% (0.3354) under the model's stated discount and terminal assumptions.
Valuation inputs · SEC XBRL + stored EOD closePrice-to-trailing-twelve-month FCF is 50.98, meaning the market price equals roughly 51 times the reported FCF over the last twelve months.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Several recent, consistent quarterly fundamental improvements (revenue, operating income, net income, and diluted EPS) combined with steady share-count reduction constitute a compelling operational and per‑share earnings expansion narrative; these items are well‑sourced from the company's SEC filings and represent strong, contemporaneous accounting evidence. Valuation multiples on earnings and enterprise profitability (trailing EV/EBITDA ~12.2 and P/E ~26) provide a balanced context versus an elevated P/FCF multiple; the EV/EBITDA and EBITDA figures are direct trailing‑twelve‑month reported metrics and are medium‑strength evidence that the market is attaching a mid‑teens multiple to operating profit. Market characteristics showing low beta/low correlation and a modest dividend growth history are objective signals of lower market sensitivity and income support, while recent product rollout headlines around a mortgage automation platform add timely, corroborative coverage supporting potential data and margin expansion narratives. In response to negative points about momentum, drawdowns, cyber and tech‑migration risks, and insider sales: those filings and price‑action facts are valid risk observations but do not negate the documented quarter‑over‑quarter fundamental gains and share‑count reduction; the fundamental evidence is strong and the news items are recent, whereas some negative market signals reflect price history and sentiment rather than contemporaneous operating performance.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.36
42 surviving claims rest on 17 distinct sources; the heaviest analyst carries 21% of them, and 100% of what the desk raised survived the debate.
The evidence set is moderately fragile: 42 surviving claims derive from just 17 distinct sources, so individual sources and a few contributors carry outsized influence on the read. The largest analyst contributing 21% of surviving claims and the fact that everything the desk raised survived debate both suggest limited internal skepticism — useful signals are present but they warrant caution and corroboration before heavy reliance.
Peer context · computed, not argued
12-1 momentum ranks 2nd of 2 in Consulting Services (as of 2026-10-14).
6-month relative strength ranks 2nd of 2 in Consulting Services (as of 2026-10-14).
90-day volatility ranks 1st of 2 in Consulting Services (as of 2026-10-14).
dividend yield ranks 1st of 2 in Consulting Services (as of 2026-10-14).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
11 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.8 to the score
7 documents· 3 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−1.0 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.7 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.0 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
2 filings· 1 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot−0.6 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on EFX Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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Educational analysis of published data. Moneyta does not give investment advice or make recommendations.