EFXEquifax

Industrials · Credit Bureaus · NYSE

Equifax Inc. is a global data, analytics and technology company. 10-K, Item 1

Employees: 15,000
Headquarters: Atlanta, GA
CEO: Mark W. Begor
Next results: around Feb 3, 2027

10-K 0000033185-26-000010 (2026-02-19) vs 10-K 0000033185-25-000025 (2025-02-20)

Section	Compared text	Words now	Changed
Risk Factors	Item 1A	9,361	14.8%
MD&A	Item 7	11,082	17.8%
Legal Proceedings	Item 3	332	45.2%
Accounting Policies	Item 8, Note 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	7,894	16.6%

The redline: what was cut and what was added

In each section, the paragraph that changed most, marked against last year's 10-K: ~~cut words struck through~~, new words highlighted and underlined.

Risk Factors 182 words changed in this paragraph; it is 38% similar to last year's version.

We operate in a number of geographic, product and service markets that are highly competitive. Competitors may develop products and services that are superior to or that achieve greater market ~~acceptance~~ adoption than our products and services. New ~~competitors may choose to enter and compete in our markets,~~ or existing competitors may choose to introduce new products or business models or enter and ~~enter~~ compete in markets that we serve ~~and that~~ where they do not currently serve. The size of our competitors varies across market segments, as do the resources we have allocated to the segments we target. Therefore, some of our competitors may have significantly greater financial, technical, marketing or other resources than we do in one or more of our market segments, or overall. As a result, our competitors may be in a position to respond more quickly than we can to new or emerging technologies and changes in customer requirements, or may devote greater resources than we can to the development, enhancement, promotion, sale and support of products and services, or some of our customers may develop products of their own that replace the products they currently purchase from us, which would result in lower revenue. In addition, many of our competitors have extensive consumer relationships, including relationships with our current and potential customers. Moreover, new competitors or alliances among our competitors may emerge and potentially reduce our market share, revenue or margins.

Source: Item 1A, 10-K 0000033185-26-000010 vs Item 1A, 10-K 0000033185-25-000025

Accounting Policies 167 words changed in this paragraph; it is 30% similar to last year's version.

In analyzing goodwill for potential impairment in the quantitative impairment test, we use the market approach, when available and appropriate, or a combination of the income and market approaches to estimate the reporting unit’s fair value. Under the income approach, we calculate the fair value of a reporting unit based on estimated future discounted cash flows which require assumptions about short and long-term revenue growth rates, operating margins for the reporting unit, discount rates, foreign currency exchange rates and estimates of capital expenditures. The assumptions we use are based on what we believe a hypothetical marketplace participant would use in estimating fair value. Under the market approach, we estimate the fair value based on market multiples of earnings before income taxes, depreciation and amortization, for benchmark companies or guideline transactions. If the fair value of a reporting unit exceeds its carrying value, then no further testing is required. However, if a reporting unit’s fair value were to be less than its carrying value, we would then determine the amount of the impairment charge, if any, which would be the amount that the carrying value of the reporting unit exceeded its fair value, limited to the amount of goodwill allocated to the reporting unit.

Source: Item 8, Note 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, 10-K 0000033185-26-000010 vs Item 8, Note 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, 10-K 0000033185-25-000025

MD&A 106 words changed in this paragraph; it is 30% similar to last year's version.

~~•During~~ •On April 21, 2025, the Board of Directors terminated the existing share repurchase authorization and approved an authorization to repurchase up to $3 billion of shares of common stock. We repurchased 4,006,173 shares of our common stock on the open market for $927.4 million, excluding brokerage commissions and excise taxes of $8.4 million, during the twelve months ended December 31, ~~2024, we paid dividends to noncontrolling interests of $4.6 million. During~~ 2025. We did not repurchase any shares from public market transactions during the twelve months ended December 31, ~~2023, we paid distributions to noncontrolling interests of $45.6 million. During the twelve months ended~~ 2024 or 2023. At December 31, ~~2022, we paid dividends to noncontrolling interests~~ 2025, approximately $2.1 billion was available for future purchases of ~~$3.1 million.~~ common stock under our share repurchase authorization.

Source: Item 7, 10-K 0000033185-26-000010 vs Item 7, 10-K 0000033185-25-000025

Legal Proceedings 13 words changed in this paragraph; it is 95% similar to last year's version.

In July 2023, we received a ~~CID~~ Civil Investigative Demand (a "CID") from the CFPB as part of its investigation into data accuracy and dispute handling at our Workforce Solutions business unit in order to determine whether we have followed the FCRA's requirements. We received a second CID from the CFPB in March 2024 and a third CID ~~from the CFPB~~ in August 2024 as part of the same investigation. The CIDs request the production of documents and answers to written questions. We are cooperating with the CFPB in its investigation and providing responses and information on an ongoing basis. At this time, we are unable to predict the outcome of ~~this CFPB~~ the CFPB's investigation, including whether the investigation will result in any actions or proceedings against us.

Source: Item 3, 10-K 0000033185-26-000010 vs Item 3, 10-K 0000033185-25-000025

Every change, by type

Sentences and paragraphs of EFX's Risk Factors and MD&A, 10-K 2026-02-19 against 10-K 2025-02-20. Each links to the text at sec.gov.

All 120 Added 14 Removed 3 Reworded 102 Quiet changes 1

Quiet changes are sentences kept from last year with one to four words changed, at least one of them a hedge, a modal or a qualifier (may, could, will, not, significant, material…). A year or date rolling forward is not counted.

The full word list

adverse, adversely, all, although, anticipate, anticipates, any, approximately, believe, believes, can, cannot, certain, could, expect, expects, generally, however, if, intend, intends, largely, likely, many, material, materially, may, might, most, must, never, no, not, possible, primarily, probable, should, significant, significantly, some, substantial, substantially, unlikely, will, would

AddedRisk Factors

decreased revenue, net income and earnings per share and reputational loss. There can be no assurance that we would be able to obtain data from alternative sources if our current sources become unavailable.