Equifax Inc

EFX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$624.00	Xrhh	Ccrpvnmgjy

Equifax Earnings: Nonmortgage Verifier the Star of the Quarter; Some Soft Pockets Elsewhere

Rajiv Bhatia

Jul 18, 2024

Equifax's second-quarter financial results were decent on a consolidated basis. The firm's operating results were roughly in line with guidance and the FactSet consensus but were below our estimates. Workforce Solutions nonmortgage verification was the star of the quarter, with good growth in government, a rebound in talent solutions, and strong payroll record growth. Overall, there was little that will change our long-term view of the wide-moat firm and we will maintain our fair value estimate of $265.

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