What is Equifax Net Worth and Financial Performance in 2024: A Deep Dive

As we delve into Equifax net worth, Ando Money takes a closer look at what drives this company’s financial strength in 2024.

Let’s explore key growth indicators, revenue contributions, and the factors shaping its financial outlook.

Quick Facts

What is the Net Worth or Market Cap Of Equifax in 2024?

Equifax, a leading player in the data analytics and credit reporting industry, has a market cap of $35.09 billion as of October 2024. This impressive valuation places it among the top financial services companies globally.

For comparison, Equifax’s market cap stands out when weighed against other prominent financial entities in the same sector.

To put this into perspective, here are some notable names in the industry:

• Experian
• TransUnion
• FICO
• Dun & Bradstreet
• Moody’s Corporation
• S&P Global
• CoreLogic
• LexisNexis Risk Solutions
• Verisk Analytics
• MSCI Inc.

Explore more details on the world’s largest financial players and check out the most financially successful companies to see how Equifax measures up.

Equifax Revenue and Financial Performance Overview

Key Drivers of Financial Performance in 2024

In 2024, Equifax demonstrated strong financial performance driven by diversified revenue growth across its segments.

The company reported a total revenue of $1.430 billion in Q2, marking a 9% increase compared to the previous year. A pivotal factor in this growth was the non-mortgage local currency revenue, which saw an increase of 13%.

The cloud transformation strategy has been a significant revenue booster, facilitating new product rollouts and leveraging AI and machine learning for predictive analytics.

These innovations contributed to Equifax’s 12.5% New Product Vitality Index in Q2.

Moreover, Equifax’s international market played a critical role in revenue growth.

Latin America led with a 71% increase on a reported basis (or 124% in local currency terms), followed by strong contributions from Europe and Canada.

Detailed Segment Performance and Revenue Contributions

Equifax’s operations are divided into three primary segments: Workforce Solutions, U.S. Information Solutions (USIS), and International.

Workforce Solutions saw revenue reach $612.9 million in Q2 2024, a 5% growth. The segment achieved strong non-mortgage revenue growth, driven by Verification Services that increased by 9%.

Despite a 12% decline in mortgage revenue, the segment’s performance in non-mortgage categories held its ground.

USIS (U.S. Information Solutions), accounting for a major portion of Equifax’s domestic business, grew by 7% in revenue. Key contributors include a 27% rise in mortgage revenue and a consistent 1% growth in non-mortgage categories.

International Operations delivered remarkable performance, with total revenue rising by 17% on a reported basis and 28% on a local currency basis.

Latin America stood out with significant growth, followed by Europe and Canada. The only challenge was a slight dip in Asia Pacific’s revenue, which decreased by 4%.

Financial Health and Profitability Indicators

Operating revenue and expenses remained balanced, leading to a healthy financial outlook. Equifax’s net income surged to $163.9 million in Q2 2024, a 19% increase from the same period in 2023.

Diluted EPS stood at $1.31, and adjusted EPS reached $1.82 in Q2 2024, reflecting sustained profitability.

Adjusted EBITDA margin was 32.0%, down slightly from 32.7% in the previous year, demonstrating stable profitability. Overall, the company’s strategic focus on non-mortgage revenue and innovation led to improved operating margins across segments.

Full-Year Financial Guidance and Future Outlook

For full-year 2024, Equifax aims to achieve a revenue target in the range of $5.690 billion to $5.750 billion, projecting an 8.1% to 9.2% growth.

The company maintains a focus on non-mortgage revenue growth and aims to increase adjusted EPS to a range of $7.22 to $7.47 per share.

Strategic Initiatives Affecting Financial Performance

Equifax’s cloud technology transformation has contributed to cost efficiencies, enabling better margins. The move to the cloud has allowed for faster product development and the leveraging of advanced analytics.

This, in turn, boosts the company’s financial health by enhancing revenue streams.

Cash Flow and Asset Management

Cash flow from operating activities remained strong in 2024, totaling $520.2 million for the first half of the year.

Strategic capital investments and acquisitions were key factors, but the company managed its debt efficiently to maintain financial stability.

FAQs about Equifax

What Are the Key Revenue Segments for Equifax?

Its primary revenue segments include Workforce Solutions, U.S. Information Solutions (USIS), and International operations, each contributing to the company’s overall growth.

How Has Equifax’s International Performance Been in 2024?

Its international performance in 2024 showed significant growth, particularly in Latin America and Europe, contributing to the company’s overall financial growth.

How Does Cloud Transformation Affect Equifax’s Financial Performance?

The cloud transformation has enabled Equifax to roll out new products more efficiently and leverage AI and machine learning, boosting revenue and profitability.

What Is the Expected Full-Year Revenue for Equifax in 2024?

Equifax expects full-year revenue for 2024 to be in the range of $5.690 billion to $5.750 billion, which indicates strong financial growth for the year.

Who Is the CEO of Equifax?

Mark W. Begor is the Chief Executive Officer of Equifax, guiding the company’s financial strategy and business operations.

Conclusion

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