Equifax Statistics 2026
By Axis Intelligence Research
Co-author: Sarah Davis | Last updated: October 25, 2026 | License: CC BY 4.0
Consumers filed 1,683,210 complaints about Equifax with the Consumer Financial Protection Bureau in 2025, more than about any other company and up 123.6% from 752,722 in 2024. Axis Intelligence Research finds that Equifax went from the fewest complaints of the three nationwide credit bureaus to the most. Meanwhile, its payroll-data unit produced 63.4% of segment operating income.
Quick Answer
Equifax reported $6.07 billion in 2025 revenue, up 6.9%, and $1.69 billion in Q3 2026, up 10%, according to its SEC filings. Workforce Solutions, the unit that runs The Work Number payroll database, generated 42.5% of revenue but 63.4% of segment operating income, an Axis Intelligence Research calculation. U.S. consumers filed 1.68 million CFPB complaints about Equifax in 2025, more than double the 2024 count.
Key Findings
- Equifax revenue reached $6,074.5 million in fiscal 2025, up 6.9% from $5,681.1 million in 2024, according to Equifax’s Q4 2025 earnings release.
- Axis Intelligence Research finds that Workforce Solutions earned 63.4% of Equifax’s 2025 segment operating income on 42.5% of revenue, based on Equifax’s FY2025 segment results.
- Axis Intelligence Research finds that Equifax received 1,683,210 CFPB complaints in 2025, up 123.6% from 752,722 in 2024, raising its share of big-three bureau complaints from 32.8% to 36.0%.
- Axis Intelligence Research estimates an Equifax Dispute Intensity Ratio (EDIR) of 792.7 credit-reporting complaints per $1 million of U.S. Information Solutions revenue in 2025.
- Axis Intelligence Research estimates that Equifax’s U.S. consumer remedy ledger since 2019 totals $720 million to $845 million, between 1.09x and 1.28x its 2025 net income of $660.3 million.
How Much Revenue Does Equifax Make?
Equifax generated $6,074.5 million in revenue in fiscal 2025, up from $5,681.1 million in 2024. Net income attributable to Equifax rose to $660.3 million from $604.1 million, and diluted earnings per share went from $4.84 to $5.32 (Equifax Q4 2025 earnings release, SEC Form 8-K, February 4, 2026). Revenue grew 6.9% and net income grew 9.3%, both Axis Intelligence Research calculations from those figures.
Growth has picked up in 2026. Q3 2026 revenue was $1,692.5 million, up 10% (9% in local currency) from $1,544.9 million a year earlier. Q3 net income was $211.7 million, up 32% (Equifax Q3 2026 earnings release, October 20, 2026). Revenue for the first nine months of 2026 was $5,041.5 million, up 11.4% from $4,523.9 million (Form 10-Q, Q3 2026).
Equifax annual and quarterly results
| Metric | FY2024 | FY2025 | Q3 2025 | Q3 2026 | Source |
|---|---|---|---|---|---|
| Revenue | $5,681.1M | $6,074.5M | $1,544.9M | $1,692.5M | Equifax 8-K earnings releases |
| Net income (attributable) | $604.1M | $660.3M | — | $211.7M | Equifax 8-K earnings releases |
| Diluted EPS | $4.84 | $5.32 | — | $1.79 | Equifax 8-K earnings releases |
| Adjusted EPS (non-GAAP) | — | $7.65 | — | $2.26 | Equifax 8-K earnings releases |
| Adjusted EBITDA margin (non-GAAP) | — | 31.9% | — | 33.1% | Equifax 8-K earnings releases |
Did Equifax cut its 2026 guidance?
Yes, slightly at the midpoint. In February 2026, Equifax guided full-year revenue to a $6.72 billion midpoint with adjusted EPS of $8.50. On October 20, 2026, it narrowed the range to $6,646–$6,676 million, with adjusted EPS of $8.45–$8.55. The new revenue midpoint, $6,661 million, is $59 million (0.9%) below the original one, an Axis Intelligence Research calculation. Fourth-quarter revenue guidance is $1,605–$1,635 million.
Sarah Davis, Digital Finance: A $59 million trim on a $6.7 billion base doesn’t tell you much. Where the growth came from does. The 28% jump in USIS mortgage revenue in Q3 came from mortgage credit files and scores, which is the bureau’s oldest product. Workforce Solutions mortgage revenue was flat over the same quarter. When mortgage originations pick up, lenders still pull the tri-merge first. The verification step only gets priced in once a loan reaches underwriting.
How Does Equifax Make Money? Revenue by Segment
Equifax reports three segments:
- Workforce Solutions (income and employment verification through The Work Number, plus employer services).
- U.S. Information Solutions (USIS), the classic consumer credit file business.
- International.
In 2025, Workforce Solutions brought in $2,582.3 million, USIS $2,078.5 million and International $1,413.7 million.
Equifax revenue by segment, FY2024 vs FY2025
| Segment | FY2024 revenue | FY2025 revenue | Growth (Axis calc.) | FY2025 operating margin | Source |
|---|---|---|---|---|---|
| Workforce Solutions | $2,433.8M | $2,582.3M | +6.1% | 44.2% | Equifax FY2025 8-K |
| — Verification Services | $2,021.9M | $2,179.8M | — | — | Equifax FY2025 8-K |
| — Employer Services | — | $402.5M | — | — | Equifax FY2025 8-K |
| U.S. Information Solutions | $1,893.0M | $2,078.5M | +9.8% | 22.9% | Equifax FY2025 8-K |
| — Online Information Solutions | — | $1,821.4M | — | — | Equifax FY2025 8-K |
| — Financial Marketing Services | — | $257.1M | — | — | Equifax FY2025 8-K |
| International | $1,354.3M | $1,413.7M | +4.4% | 12.9% | Equifax FY2025 8-K |
International revenue was 23% of Equifax’s 2025 total, according to the FY2025 Form 10-K. By region, Latin America contributed $403.4 million, Europe $396.7 million, Asia Pacific $342.3 million and Canada $271.3 million.
Q3 2026 segment results
| Segment | Q3 2026 revenue | YoY growth | Operating margin | Source |
|---|---|---|---|---|
| Workforce Solutions | $693.9M | +7% | 44.1% | Equifax Q3 2026 8-K |
| — Verification Services | $603.2M | +9% | — | Equifax Q3 2026 8-K |
| — Employer Services | $90.7M | −5% | — | Equifax Q3 2026 8-K |
| USIS | $599.1M | +13% | 24.3% | Equifax Q3 2026 8-K |
| International | $399.5M | +9% (+7% local) | — | Equifax Q3 2026 8-K |
Is Equifax a credit bureau or a payroll-data company?
By profit, it is mostly a payroll-data company. Axis Intelligence Research divided Workforce Solutions’ operating income by the sum of all three segments’ operating income, before corporate expense:
- 2025: $1,141.5M ÷ ($1,141.5M + $475.2M + $182.5M) = $1,141.5M ÷ $1,799.2M = 63.4%. Workforce Solutions’ revenue share was 42.5% ($2,582.3M ÷ $6,074.5M).
- 2024: $1,053.3M ÷ $1,638.9M = 64.3%, on a 42.8% revenue share.
- Q3 2026: $306.3M ÷ $514.8M = 59.5%, on a 41.0% revenue share.
Sarah Davis, Digital Finance: Equifax still calls itself a credit bureau, but its income statement says something else. About two-thirds of segment profit comes from a database built from employers’ payroll feeds. Lenders pay every time they verify, while employers’ payroll feeds keep the records current. A unit built that way can earn a 44% operating margin. The Q3 2026 dip to 59.5% is not a break in the model, though. USIS grew revenue 13% in a strong mortgage quarter, so its share of the profit pool rose. If mortgage volumes fade in 2027, that share swings back the other way.
How Many Records Are in The Work Number?
The Work Number held approximately 209 million active records and 813 million total records as of December 31, 2025, sourced from payroll data contributed by more than 4 million organizations, according to Equifax’s FY2025 Form 10-K. An “active” record reflects current employment; total records include past employment history. That means 25.7% of records were active, an Axis Intelligence Research calculation.
Verification revenue per active record
Axis Intelligence Research estimates that Equifax earned $10.43 in Verification Services revenue per active Work Number record in 2025. The formula is $2,179.8 million of Verification Services revenue divided by 209 million active records. Verification Services made up 84.4% of Workforce Solutions revenue that year ($2,179.8M ÷ $2,582.3M).
| Work Number metric | Value | As of | Source |
|---|---|---|---|
| Active records | ~209 million | Dec 31, 2025 | Equifax FY2025 10-K |
| Total records | ~813 million | Dec 31, 2025 | Equifax FY2025 10-K |
| Contributing organizations | 4 million+ | Dec 31, 2025 | Equifax FY2025 10-K |
| Verification revenue per active record | $10.43 | FY2025 | Axis Intelligence Research calculation |
Sarah Davis, Digital Finance: Ten dollars and change per active record per year sounds modest. Remember who pays it, though. Lenders, landlords and government agencies are charged every time they verify income, and the employee the record describes pays nothing and is never asked. The cost reaches consumers anyway, folded into mortgage closing costs, tenant-screening fees and benefits administration. Most fees are hidden in the fine print. This one doesn’t even appear on the consumer’s paperwork.
How Many Complaints Does Equifax Get?
Equifax received 1,683,210 complaints through the CFPB in 2025, according to the CFPB Consumer Complaint Database. Of those, 1,647,632 (97.9%) concerned credit reporting or other personal consumer reports. Equifax answered 100% of complaints on time, and 1,680,314 complaints arrived through the web.
Equifax vs TransUnion vs Experian: CFPB complaints in 2025
| Company | CFPB complaints, 2025 | Share of big-three total (Axis calc.) | Source |
|---|---|---|---|
| Equifax | 1,683,210 | 36.0% | CFPB Consumer Complaint Database |
| TransUnion | 1,604,549 | 34.3% | CFPB Consumer Complaint Database |
| Experian | 1,390,979 | 29.7% | CFPB Consumer Complaint Database |
| Big three combined | 4,678,738 | 100% | Axis Intelligence Research calculation |
| All companies | 5,452,084 | — | CFPB Consumer Complaint Database |
Equifax alone accounted for 30.9% of every complaint the CFPB received in 2025, across all financial products and companies. That figure is an Axis Intelligence Research calculation (1,683,210 ÷ 5,452,084).
How fast are Equifax complaints growing? 2024 vs 2025
Equifax received 752,722 CFPB complaints in 2024, the fewest of the three nationwide bureaus. In 2025 it received 1,683,210, the most. Complaints against all three bureaus combined roughly doubled over the same period, but Equifax’s grew fastest.
| Company | CFPB complaints, 2024 | CFPB complaints, 2025 | Change (Axis calc.) | Share of big three, 2024 → 2025 | Source |
|---|---|---|---|---|---|
| Equifax | 752,722 | 1,683,210 | +123.6% | 32.8% → 36.0% | CFPB Consumer Complaint Database |
| TransUnion | 790,670 | 1,604,549 | +102.9% | 34.4% → 34.3% | CFPB Consumer Complaint Database |
| Experian | 754,851 | 1,390,979 | +84.3% | 32.8% → 29.7% | CFPB Consumer Complaint Database |
| Big three combined | 2,298,243 | 4,678,738 | +103.6% | 100% | Axis Intelligence Research calculation |
The 2024 counts are complaints received between January 1 and December 31, 2024, across all products, filtered on each bureau’s CFPB company name.
Sarah Davis, Digital Finance: Equifax’s USIS revenue grew 9.8% in 2025. Its complaint count grew 123.6%. A gap that wide rules out the easy explanation that more business simply means more complaints. Something in the dispute pipeline changed between the two years. It could be how consumers or third-party filers target Equifax, or how Equifax’s own systems handle a dispute. The public data does not say which. A bureau that went from the shortest complaint queue to the longest in twelve months owes the market an explanation, and the next CFPB 611(e) report is where to look for one.
What do consumers complain about most?
| Issue or sub-issue (CFPB taxonomy) | Complaints, 2025 | Share of Equifax total | Source |
|---|---|---|---|
| Incorrect information on your report (issue) | 968,546 | 57.5% | CFPB database |
| — Information belongs to someone else (sub-issue) | 663,434 | 39.4% | CFPB database |
| Improper use of your report (issue) | 376,526 | 22.4% | CFPB database |
| — Credit inquiries you don’t recognize (sub-issue) | 83,952 | 5.0% | CFPB database |
| Problem with a company’s investigation into an existing problem (issue) | 295,333 | 17.5% | CFPB database |
| — Investigation took more than 30 days (sub-issue) | 100,056 | 5.9% | CFPB database |
Shares are Axis Intelligence Research calculations against Equifax’s 1,683,210 total complaints. Sub-issues sit inside their parent issue, so the column does not sum to 100%.
How are Equifax complaints resolved?
In 2025, 1,067,540 Equifax complaints (63.4%) were closed with relief, and the remaining 36.6% were closed with an explanation. Both shares are Axis Intelligence Research calculations from CFPB response data.
The Equifax Dispute Intensity Ratio (EDIR)
The Equifax Dispute Intensity Ratio (EDIR) is an Axis Intelligence Research calculation. It measures how many CFPB credit-reporting complaints Equifax drew per $1 million of revenue from USIS, the segment that sells U.S. credit files:
EDIR = 1,647,632 credit-reporting complaints (2025) ÷ $2,078.5M USIS revenue (FY2025) = 792.7 complaints per $1 million
Read the other way round, Equifax booked about $1,261.50 of USIS revenue for every credit-reporting complaint filed in 2025. EDIR is a yardstick for how consumer friction scales with the credit-file business, not a judgment of complaint validity, since CFPB complaints are unverified and may include submissions prepared by third parties such as credit-repair services.
Sarah Davis, Digital Finance: The number that should bother lenders is 39.4%. That is the share of Equifax complaints saying the data on the file belongs to someone else. A mixed file is an identity-matching failure, not a disagreement over a late payment, and a bureau’s matching logic is the core of what it sells. When one complaint in every 2.5 claims the bureau stitched two people together, the dispute queue is not just credit-repair noise. It is a quality metric for the product.
How Often Does Equifax Confirm a Consumer’s Prior Dispute?
The CFPB’s December 2025 report under Section 611(e) of the Fair Credit Reporting Act (FCRA) found that Equifax confirmed a prior dispute in about 37% of covered complaints between January 2024 and mid-2025. About 90% of consumers in those complaints said they had already disputed with the bureau (CFPB, 611(e) report, December 2025). A “covered” complaint is one that meets the statute’s definition of a complaint about inaccurate information that the bureau must review and report on.
| 611(e) report finding (Jan 2024 – Jun 2025) | Value | Source |
|---|---|---|
| Total complaints received by CFPB | 5.6 million+ | CFPB 611(e) report, Dec 2025 |
| Credit or consumer reporting complaints | ~4.8 million | CFPB 611(e) report, Dec 2025 |
| Complaints about the three nationwide bureaus | ~3.9 million | CFPB 611(e) report, Dec 2025 |
| Rise in bureau complaints since Jan 1, 2020 | ~3,000% | CFPB 611(e) report, Dec 2025 |
| Share of complaints meeting the “covered” definition | ~52% | CFPB 611(e) report, Dec 2025 |
| Consumers reporting a prior dispute | ~90% | CFPB 611(e) report, Dec 2025 |
| Equifax: prior dispute confirmed | ~37% | CFPB 611(e) report, Dec 2025 |
| Recent bureau response times | 50+ days | CFPB 611(e) report, Dec 2025 |
The same report notes that Equifax was the only nationwide bureau that documented reporting errors back to furnishers, the lenders and servicers that supply the data (CFPB report page).
Sarah Davis, Digital Finance: A gap of roughly 53 percentage points between “I already disputed this” and “we have a record of that dispute” should not be read as dishonesty on either side. It shows that the consumer and the bureau keep separate ledgers. Some consumers count a credit-repair firm’s letter as their dispute. Some bureau systems don’t log a dispute until it has passed an identity check. Either way, the reconciliation work lands on the consumer.
How Many People Were Affected by the 2017 Equifax Data Breach?
The 2017 Equifax data breach exposed the personal information of approximately 147 million people, including 145.5 million Social Security numbers and about 209,000 payment card numbers, according to the Federal Trade Commission. Attackers exploited a vulnerability in Equifax’s online dispute portal that the company had been alerted to in March 2017 but had not patched.
In the United Kingdom, the Financial Conduct Authority said 13.8 million UK consumers were affected. On October 13, 2023, it fined Equifax Ltd £11,164,400. The fine would have been £15,949,200 without a 30% settlement discount, an Axis Intelligence Research calculation. The UK Information Commissioner’s Office had fined Equifax Ltd £500,000 in 2018.
What did the 2019 data breach settlement include?
| Component | Amount | Source |
|---|---|---|
| Total settlement | At least $575M, up to $700M | FTC, July 22, 2019 |
| Consumer fund | $300M, plus up to $125M more | FTC |
| Payments to 48 states, DC and Puerto Rico | $175M | FTC |
| CFPB civil penalty | $100M | CFPB enforcement action |
| Free credit reports | Six per year for seven years, from January 2020 | FTC |
| Paid for alternative compensation and out-of-pocket losses | ~$70M (company-reported) | Equifax newsroom, Nov 11, 2024 |
The extended claims period closed on January 22, 2024. Final payments went out between November 7 and December 20, 2024. Equifax says it has invested more than $1.5 billion in a security and technology transformation since the breach (company-reported).
For how the Equifax incident compares with other breaches, see Axis’s data breach statistics and the live data breach tracker.
What Are the Equifax Settlements in 2026?
Two class settlements are open in late 2026. One is a $100 million settlement over a 2022 credit-score coding error. The other is a $30 million settlement over how Equifax handled disputes of hard inquiries. Both sit on top of a $15 million CFPB penalty imposed in January 2025.
The $100 million Equifax settlement (2022 coding issue)
In re Equifax Fair Credit Reporting Act Litigation (No. 1:22-cv-3072-LMM-CCB, Northern District of Georgia) covers people in the United States for whom Equifax reported a credit score or credit attribute to a third party that was altered by the “OMS Issue.” The court notice uses that term for a computer coding problem on one of Equifax’s servers between March 17 and April 8, 2022. The court has preliminarily approved the settlement.
The key dates come from the official settlement website:
- Claim deadline: December 28, 2026. Class members must file a claim to be paid.
- Opt-out and objection deadline: November 27, 2026.
- Final approval hearing: January 22, 2027, in the U.S. District Court in Atlanta.
Equifax’s Q3 2026 Form 10-Q records a $100 million accrual for the settlement and a $60 million insurance receivable. That leaves an expected net cost of $40 million, an Axis Intelligence Research calculation. Press coverage of the notice (Money Talks News) puts the class at roughly 4 million people. The settlement website does not publish a per-person payment estimate.
The $30 million hard-inquiry settlement (Hines v. Equifax)
Hines v. Equifax Information Services, LLC (No. 1:19-cv-06701, Eastern District of New York) settles four lawsuits: Hines, Rivera, Oblack and Neubauer. All four claim that Equifax did not reasonably investigate consumers’ disputes of hard inquiries. A hard inquiry is the entry a bureau records when a lender pulls a report after a credit application. According to the official settlement notice, some consumers received a standard letter stating that “inquiries are a factual record of file access.” Equifax denies wrongdoing. It booked a $30.0 million legal accrual for inquiry-dispute claims in Q4 2025, per its FY2025 earnings release.
The notice defines three groups of class members and gives class counsel’s payment estimates for each. Actual payments depend on how many people file claims.
| Group | Who qualifies (per the settlement notice) | Estimated payment | Source |
|---|---|---|---|
| Certified Group | Mailed a dispute of a hard inquiry between Oct 4, 2016 and Mar 27, 2026, coded “not mine” or “unauthorized,” and received Equifax’s “factual record of file access” letter | ~$300 | Settlement notice |
| General Dispute Group | Disputed a hard inquiry with Equifax between Aug 31, 2021 and Mar 27, 2026 | ~$100 | Settlement notice |
| New York Subclass | Certified Group members with a New York address who were sent the letter between Nov 27, 2017 and Sep 10, 2024 | ~$400 | Settlement notice |
| Hines settlement term | Value | Source |
|---|---|---|
| Settlement fund (covers payments, administration, fees, expenses) | $30M | Settlement notice; Equifax FY2025 8-K |
| Attorneys’ fees requested (maximum) | $10M | Settlement notice |
| Litigation expenses (maximum) | $260,000 | Settlement notice |
| Service awards to plaintiffs (maximum, total) | $60,000 | Settlement notice |
| Claim deadline | November 29, 2026 | Settlement notice |
| Exclusion and objection deadline | November 20, 2026 | Settlement notice |
| Final approval hearing | December 10, 2026 | Settlement notice |
ClassAction.org reports about 3 million class members, including about 1 million in the Certified Group and about 35,000 in the New York Subclass. The official notice shown to us did not state these counts.
Sarah Davis, Digital Finance: The fee request alone could absorb 33.3% of the $30 million fund, before a single claimant is paid. Class counsel’s estimate for the General Dispute Group is about $100 a person. For Equifax, the whole settlement equals 2.6% of its 2025 free cash flow, an Axis Intelligence Research calculation. The real cost to watch is operational: the settlement turns on how a dispute coded “not mine” gets answered, and that answer is a process Equifax can change far more cheaply than it can keep paying for it.
The 2025 CFPB order
On January 17, 2025, the CFPB ordered Equifax to pay a $15 million civil penalty (docket 2025-CFPB-0002). Among its findings, the order cited leftover “test code” in a scoring server.
The Equifax consumer remedy ledger
Axis Intelligence Research summed the U.S. consumer-facing settlements and penalties since 2019 into one ledger:
| Item | Low | High | Source |
|---|---|---|---|
| 2019 breach settlement (FTC/CFPB/states) | $575M | $700M | FTC; CFPB |
| 2025 CFPB civil penalty | $15M | $15M | CFPB; Equifax 8-K |
| Hard-inquiry dispute settlement | $30M | $30M | Equifax FY2025 8-K |
| 2022 coding-issue settlement (gross) | $100M | $100M | Equifax Q3 2026 10-Q |
| Total | $720M | $845M | Axis Intelligence Research calculation |
| As a multiple of FY2025 net income ($660.3M) | 1.09x | 1.28x | Axis Intelligence Research calculation |
The ledger excludes the £11.16 million FCA fine and the £500,000 ICO fine, which are in a different currency and jurisdiction. It also uses the coding-issue settlement’s gross amount rather than the $40 million net of insurance.
Sarah Davis, Digital Finance: Spread $845 million over seven years against a company with $1.13 billion in free cash flow in 2025 alone, and you can see why the settlements haven’t changed the business model. They are a cost of doing business, paid out of one year’s profit. The more telling item is the $60 million insurance receivable on the coding case. Underwriters are now carrying part of the risk of a credit bureau’s data errors. Expect that premium to show up in the next renewal.
How Many Employees Does Equifax Have?
Equifax had approximately 15,000 employees at the end of 2025, according to its 10-K. That headcount was split across Workforce Solutions (3,100), USIS (2,800), International (4,800) and shared Centers of Excellence (4,300). The company hired 2,700 people and promoted 1,800 in 2025. The 10-K lists operations in 22 countries; the Q3 2026 release cites more than 15,000 employees in 24 countries.
Revenue per employee by segment, 2025
| Segment | Employees | FY2025 revenue | Revenue per employee (Axis calc.) | Source |
|---|---|---|---|---|
| Workforce Solutions | ~3,100 | $2,582.3M | ~$833K | Equifax 10-K; FY2025 8-K |
| USIS | ~2,800 | $2,078.5M | ~$742K | Equifax 10-K; FY2025 8-K |
| International | ~4,800 | $1,413.7M | ~$295K | Equifax 10-K; FY2025 8-K |
| Company total | ~15,000 | $6,074.5M | ~$405K | Equifax 10-K; FY2025 8-K |
Segment figures leave out the 4,300 Centers of Excellence staff, who serve all three segments, so they overstate each segment’s productivity. The company-wide $405,000 includes everyone. Equifax also told investors it is targeting $150 million in AI-driven productivity gains (company-reported, Q3 2026 release). For headcount trends elsewhere in finance, see Axis’s bank layoffs coverage.
What Is Equifax Paying for Círculo de Crédito?
On July 7, 2026, Equifax agreed to buy Mexican credit bureau Círculo de Crédito for an enterprise value of $750 million. The purchase price is $825 million, including $75 million of acquired cash, per the Equifax announcement. Círculo reported last-twelve-month revenue of $134 million, up 31%, and adjusted EBITDA of $62 million. It holds 80 million validated identities and 2 billion tradelines, and serves more than 1,700 customers. Equifax expects the deal to close in Q4 2026. The company called it the 17th bolt-on acquisition in six years, totaling nearly $5 billion.
| Círculo de Crédito deal metric | Value | Source |
|---|---|---|
| Enterprise value | $750M | Equifax press release |
| EV / LTM revenue | 5.6x | Axis Intelligence Research calculation ($750M ÷ $134M) |
| EV / LTM adjusted EBITDA | 12.1x | Axis Intelligence Research calculation ($750M ÷ $62M) |
| Implied adjusted EBITDA margin | 46.3% | Axis Intelligence Research calculation ($62M ÷ $134M) |
Sarah Davis, Digital Finance: Twelve times EBITDA for a bureau growing 31% with a 46% margin is not an aggressive price. Equifax already earned $403.4 million in Latin America in 2025, so this adds a second Mexican file to an existing regional cost base. The upside comes from cross-selling scores, identity checks and verification products into Círculo’s 1,700-plus customers. That bet runs on the 80 million identities, not on the revenue line.
Equifax Cash Flow, Buybacks and Balance Sheet
Equifax produced $1,615.7 million of operating cash flow in 2025 and spent $481.4 million on capital expenditures. That leaves free cash flow of $1,134.3 million, an Axis Intelligence Research calculation consistent with the company-reported $1.13 billion. Equifax bought back $927.5 million of stock and paid $232.8 million in dividends in 2025. In Q3 2026 it returned $158 million: $92 million for 0.5 million shares and $66 million in dividends. About $1.4 billion of buyback authorization remained at September 30, 2026. Long-term debt stood at $5,049.0 million, and 117,017,174 shares were outstanding on October 9, 2026 (Q3 2026 10-Q).
Methodology
How Axis Intelligence Research assembled the data. Every financial figure comes from Equifax’s SEC filings, retrieved on October 25, 2026:
- the Q3 2026 and Q4/FY2025 earnings releases filed as Form 8-K Exhibit 99.1;
- the Q3 2026 Form 10-Q;
- the FY2025 Form 10-K.
Acquisition terms come from Equifax’s investor-relations release. Regulatory figures come from the FTC, the CFPB (enforcement pages and the FCRA 611(e) report) and the UK FCA. Complaint counts come from the CFPB Consumer Complaint Database:
- 2025: complaints received between January 1, 2025 and January 1, 2026. Peer counts for TransUnion and Experian come from the same query’s company aggregation.
- 2024: a separate search for each company’s CFPB name (EQUIFAX, INC.; TRANSUNION INTERMEDIATE HOLDINGS, INC.; Experian Information Solutions Inc.), for complaints received January 1 to December 31, 2024, all products.
Settlement dates, class definitions and payment estimates come from the two official settlement administrator websites. Class-size counts not stated there come from legal-news reports and are marked is_primary = no in the CSV.
Formulas for Axis-calculated figures:
- EDIR = CFPB credit-reporting complaints about Equifax (2025) ÷ USIS revenue in $ millions (FY2025) = 1,647,632 ÷ 2,078.5 = 792.7.
- Workforce Solutions profit share = WS operating income ÷ (WS + USIS + International operating income), before corporate expense.
- Verification revenue per active record = Verification Services revenue ÷ active Work Number records.
- Remedy ledger = 2019 breach settlement (floor $575M / cap $700M) + $15M CFPB penalty + $30M inquiry-dispute accrual + $100M coding-issue accrual. The ratio to net income uses FY2025 net income attributable to Equifax.
- Complaint shares = issue or sub-issue count ÷ total Equifax complaints (all products).
- Revenue per employee = segment revenue ÷ segment headcount per the 10-K.
- Deal multiples = enterprise value ÷ LTM revenue or LTM adjusted EBITDA, as stated in the release.
What these figures do not capture. CFPB complaints are unverified consumer submissions and can include filings prepared by third parties. EDIR therefore measures complaint load, not error rates. USIS revenue includes business lines (marketing data, commercial files) that do not generate consumer disputes. EDIR is calculated for Equifax only, because TransUnion and Experian report U.S. revenue under segment definitions that are not directly comparable. Headcounts and record counts are approximate as stated by Equifax.
About This Dataset
The dataset behind this page contains 260 rows: Equifax financials, segment results, The Work Number metrics, CFPB complaint counts and issue mix, regulatory penalties, settlement terms and Círculo de Crédito deal terms. Every row carries its source organization, document, URL, retrieval date, a primary-source flag and, for Axis-calculated values, the formula.
- File:
equifax-statistics.csv(UTF-8, long format) - License: Creative Commons Attribution 4.0 (CC BY 4.0). Free to reuse with attribution.
- Required attribution: “Source: Axis Intelligence Research, Equifax Statistics 2026, axis-intelligence.com/equifax-statistics/”
Related Axis datasets: credit score statistics, credit card fraud statistics, American Express statistics, and the full Axis research library. More coverage lives in the Digital Finance hub.
How to Cite This Page
APA: Axis Intelligence Research, & Davis, S. (2026, October 25). Equifax statistics 2026: Revenue, CFPB complaints, data breach and settlements. Axis Intelligence. https://axis-intelligence.com/equifax-statistics/
MLA: Axis Intelligence Research, and Sarah Davis. “Equifax Statistics 2026: Revenue, CFPB Complaints, Data Breach and Settlements.” Axis Intelligence, 25 Oct. 2026, axis-intelligence.com/equifax-statistics/.
Chicago: Axis Intelligence Research, and Sarah Davis. “Equifax Statistics 2026: Revenue, CFPB Complaints, Data Breach and Settlements.” Axis Intelligence, October 25, 2026. https://axis-intelligence.com/equifax-statistics/.
Frequently Asked Questions
How much will I get from the Equifax $100 million settlement?
The official settlement website does not publish a per-person estimate. Payments depend on how many eligible people file a valid claim by December 28, 2026. The class covers consumers whose Equifax credit score or attribute was altered by a coding issue between March 17 and April 8, 2022. Equifax’s Q3 2026 10-Q shows a $100 million accrual, offset by a $60 million insurance receivable. The final approval hearing is set for January 22, 2027.
What is the $30 million Equifax settlement about?
It resolves four lawsuits, led by Hines v. Equifax, claiming that Equifax did not reasonably investigate consumers’ disputes of hard inquiries. Class counsel estimates payments of about $300 for the Certified Group, $100 for the General Dispute Group and $400 for the New York Subclass, per the official settlement notice. Claims are due by November 29, 2026, and the final approval hearing is December 10, 2026.
Can I still file a claim for the 2017 Equifax data breach?
No. The extended claims period ended on January 22, 2024, and the administrator sent final payments between November 7 and December 20, 2024, according to Equifax’s newsroom. The settlement’s free credit reports (six per year for seven years from January 2020, per the FTC) are a separate benefit from cash claims.
Why does Equifax get more CFPB complaints than Experian or TransUnion?
In 2025, Equifax drew 1,683,210 CFPB complaints, against 1,604,549 for TransUnion and 1,390,979 for Experian. That was 36.0% of the big-three total, per Axis Intelligence Research’s analysis of the CFPB database. This is recent: in 2024 Equifax had the fewest complaints of the three (752,722). Its most common sub-issue is “information belongs to someone else,” at 39.4% of complaints, which points to identity-matching disputes rather than disagreements over payment history.
How many workers are in The Work Number database?
The Work Number held about 209 million active and 813 million total employment records at December 31, 2025, from more than 4 million contributing organizations, per Equifax’s FY2025 10-K. Axis Intelligence Research estimates this produced $10.43 of Verification Services revenue per active record in 2025.
What share of Equifax’s profit comes from employment verification?
Workforce Solutions, which sells income and employment verification, produced 63.4% of Equifax’s 2025 segment operating income on 42.5% of revenue, an Axis Intelligence Research calculation from Equifax’s FY2025 results. Its operating margin was 44.2%, against 22.9% for the U.S. credit-file business.
How often does Equifax find a record of a consumer’s earlier dispute?
In about 37% of covered complaints from January 2024 to mid-2025, according to the CFPB’s December 2025 FCRA 611(e) report. About 90% of consumers in those complaints said they had disputed before. The CFPB also found that recent bureau response times exceeded 50 days.
How much was Equifax fined in the UK?
The Financial Conduct Authority fined Equifax Ltd £11,164,400 on October 13, 2023, after a 30% settlement discount from £15,949,200, over the 2017 breach that affected 13.8 million UK consumers. The Information Commissioner’s Office had separately fined Equifax Ltd £500,000 in 2018.
How much is Equifax paying for Círculo de Crédito?
Equifax agreed on July 7, 2026 to acquire Mexico’s Círculo de Crédito at a $750 million enterprise value ($825 million including $75 million of cash). That works out to 12.1x LTM adjusted EBITDA of $62 million, per Axis Intelligence Research. The deal is expected to close in Q4 2026.