Equifax key statistics and ratios

In fiscal 2025, Equifax had return on equity of 14.0%, an operating margin of 18.0%, debt equal to 111.1% of equity and a current ratio of 0.60. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Equifax: financial ratios, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Operating margin	26.2%	24.7%	13.1%	−9.6%	16.4%	23.1%	20.6%	17.7%	18.3%	18.0%	18.8%
Net margin	15.5%	17.5%	9.1%	−11.0%	12.6%	15.1%	13.6%	10.4%	10.6%	10.9%	11.3%
Free-cash-flow margin	20.7%	17.8%	10.3%	−2.4%	12.7%	17.6%	2.6%	9.8%	14.3%	18.7%	16.7%
Return on equity	18.4%	20.1%	9.9%	−13.5%	18.1%	22.0%	18.5%	12.8%	12.9%	14.0%	16.4%
Return on assets	7.3%	8.5%	4.3%	−5.1%	5.9%	7.2%	6.2%	4.6%	5.0%	5.6%	6.2%
Asset turnover	0.47	0.48	0.47	0.47	0.47	0.48	0.45	0.44	0.47	0.51	0.55
Current ratio	0.53	0.60	1.09	0.89	1.00	0.49	0.68	0.67	0.75	0.60	1.09
Debt to equity	100.9%	85.5%	85.4%	132.0%	138.9%	148.6%	147.0%	126.6%	105.0%	111.1%	117.0%
Interest cover (operating income ÷ interest)	9.0x	9.0x	4.3x	n/m	4.8x	7.8x	5.8x	3.9x	4.5x	5.2x	5.4x
Effective tax rate	32.0%	19.9%	14.4%	—	23.2%	21.1%	24.7%	23.2%	25.1%	25.8%	26.8%
SG&A as % of revenue	29.9%	30.7%	35.6%	56.7%	32.0%	26.9%	25.9%	26.3%	25.5%	26.6%	25.0%
Capital spending as % of revenue	5.5%	6.5%	9.4%	11.4%	10.2%	9.5%	12.2%	11.4%	9.0%	7.9%	7.7%
Free cash flow ÷ net income	132.9%	101.8%	112.8%	—	100.9%	116.3%	19.0%	94.5%	134.6%	171.8%	148.6%
Dividends ÷ net income	32.2%	31.9%	60.5%	—	36.4%	25.5%	27.4%	35.2%	32.0%	35.3%	35.0%
Dividends and buybacks ÷ free cash flow	24.3%	44.2%	53.6%	—	36.1%	30.0%	144.1%	37.2%	23.8%	102.3%	127.9%

US$ thousands unless shown otherwise. Fiscal quarters.

Equifax: financial ratios, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Operating margin	20.3%	16.4%	20.2%	17.1%	18.3%	17.4%	18.5%	21.0%
Net margin	12.3%	9.2%	12.4%	10.4%	11.3%	10.4%	10.8%	12.5%
Free-cash-flow margin	14.5%	8.1%	15.5%	28.3%	22.0%	7.4%	12.0%	25.8%
Current ratio	0.75	0.85	0.77	0.74	0.60	0.61	0.60	1.09
Debt to equity	104.5%	99.7%	96.0%	97.5%	110.6%	116.9%	124.8%	116.4%
SG&A as % of revenue	24.3%	26.0%	25.0%	28.1%	27.2%	24.9%	24.9%	23.1%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 7 checks passed · September 30, 2026

What it owns · $11.9bn

Short-term assets $1.6bnLonger-term assets $10.4bn

What it owes, and who funded it · $11.8bn

Short-term liabilities $1.5bnLonger-term liabilities $5.9bnShareholders' equity $4.5bn

Short-term assets cover short-term liabilities $1.6bn of assets due within a year against $1.5bn of liabilities due within a year.
Short-term assets cover long-term liabilities $1.6bn short-term assets against $5.9bn of longer-dated liabilities.
More cash than debt $193m of cash against $5.2bn of debt.
Debt below 40% of shareholders' equity Debt is 116% of equity.
Debt burden no higher than five years ago Debt to equity moved from 117% to 116% over five years.
A year's operating cash flow covers at least 20% of debt $1.6bn of operating cash flow against $5.2bn of debt.
Operating profit covers interest at least five times over Operating income of $1.2bn against $232m of interest.

From Equifax's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

42 /100

Weak moat

How hard Equifax's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 8 / 20

Net income has been a median 5.9% of total assets over 10 years.
Durability 5 / 20

Operating margin has been a median 17.9%; its worst year was -9.8%.
Cash conversion 15 / 20

Free cash flow was positive in 8 of 9 years, at a median 13.1% of revenue.
Discipline 18 / 20

The diluted share count fell 2.6% over five years; stock-based pay has been a median 1.4% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (57 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Equifax's SEC filings (10-K and 10-Q), retrieved October 21, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Equifax.