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Sep 30
Equifax Q3 2025 Earnings Report
Equifax reported strong third quarter 2025 results, exceeding revenue guidance and raising full-year outlook.
Key Takeaways
Equifax delivered robust third-quarter results, with revenue reaching $1.545 billion, a 7% increase year-over-year, surpassing guidance. This performance was driven by strong growth in U.S. Mortgage revenue, Workforce Solutions Government vertical, and continued new product innovation, despite challenging market conditions in U.S. Mortgage and Hiring.
Third quarter revenue of $1.545 billion was up 7% year-over-year and exceeded the midpoint of guidance by $25 million.
U.S. Mortgage revenue showed strong growth of 13%, contributing significantly despite an overall decline in the underlying mortgage market.
Workforce Solutions revenue increased by 5%, with Verification Services up 5% driven by high single-digit Government growth and 7% Non-Mortgage growth.
USIS revenue grew by 11%, well above its long-term financial framework, fueled by 26% Mortgage revenue growth and 5% Non-Mortgage revenue growth.
Equifax
Equifax
Equifax Revenue by Segment
Equifax Revenue by Geographic Location
Revenue by Segment
Workforce Solutions Revenue
CapyFin.comVerification Services Revenue
CapyFin.comEmployer Services Revenue
CapyFin.comU.S. Information Solutions Revenue
CapyFin.comOnline Information Solutions Revenue
CapyFin.comFinancial Marketing Services Revenue
CapyFin.comInternational Revenue
CapyFin.comRevenue by Geographic Location
Latin America Revenue
CapyFin.comEurope Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comCanada Revenue
CapyFin.com Forward Guidance
Equifax is raising its full-year 2025 guidance for reported revenue and Adjusted EPS, and increasing its free cash flow guidance, reflecting strong third-quarter performance and confidence in future growth.
Positive Outlook
- Raising full-year 2025 reported revenue guidance midpoint by $40 million.
- Increasing full-year Adjusted EPS guidance by $0.12 per share.
- Increased 2025 free cash flow guidance from $900+ million to between $950 million and $975 million.
- Anticipates local currency growth of about 7% for the full year 2025.
- New Mortgage Scores pricing structure expected to support a competitive credit scoring market and reduce mortgage costs.
Challenges Ahead
- Assumes U.S. mortgage market credit inquiries to be down high single digits for Q4 and full year 2025.
- Headwinds from U.S. Hiring and Mortgage markets continue to be a factor.
- Operational disruptions and strain on resources caused by the transition to cloud-based technologies are ongoing risks.
- Potential adverse developments in new and pending legal proceedings, government investigations, and regulatory enforcement actions.
- Impact of health epidemics, pandemics, and similar outbreaks on the business remains a risk.