Equifax (EFX) FY Earnings Call Presentation

Strategic Priorities & Financial Performance - Equifax is executing against its EFX2025 strategic priorities, despite a tougher mortgage market[2] - The company is delivering spending reductions of $210 million in 2023 and $250 million in 2024[2] - Equifax is outperforming underlying EWS markets, expanding records and penetration[2] - The new long-term financial framework targets organic revenue growth of 7-10% and total growth of 8-12%[4] - The framework also aims for EBITDA margin improvement of +50 bps and cash EPS growth of 12-16%[4] Acquisitions & Expansion - The Boa Vista Serviços (BVS) acquisition closed in August, adding $160 million run-rate revenue in a $2 billion addressable market[6] - BVS is estimated to have a ~$700 million credit bureau market, ~$760 million debt renegotiation market, and ~$190 million e-commerce anti-fraud market in Brazil[7] - The acquisition is expected to be slightly accretive to EPS in year 1[8] - The fast-growing Brazil market is adding $2 billion to Equifax's total addressable market (TAM)[13] Innovation & Technology - The Vitality Index is above the 10% long-term goal, with over 30 new product innovations (NPIs) in the quarter and 65 year-to-date[19] - Over 80% of new product revenue is from non-mortgage NPIs[23] - Mortgage inquiries are tracking an unprecedented 40% below historical levels in 2023[37]