Equifax management check
EFX · Industrials · Research & Consulting Services · CEO Mark W. Begor
Filings as of
3 good · 2 to watch · 2 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $117, against $169 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.93 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Flag
What does the CEO cost owners?
3.5% of net income$23.4m of reported pay in fiscal 2025, against $664.0m of net income.
- Watch
Do they own the stock?
CEO stake ≈ 2.3 years of payThe CEO holds 309,681 shares, directly or through trusts (unvested awards not counted): about 2.3 years of pay. Light activity: no buys, $14.9m sold in six months. 15 of 15 sales ran on pre-arranged 10b5-1 plans.
- Watch
Are owners being diluted?
Share count growingDiluted shares changed +0.1% a year over the last three fiscal years. Stock-based pay was 1.3% of revenue in the latest year.
- Good
Is leadership stable?
5 leadership filings in 3 yearsCEO in the pay table: Mark W. Begor. 5 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Industrials.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 11 | 55 | |
| Pay for performance | 96 | 86 | |
| CEO cost | 5 | 48 | |
| Skin in the game | 53 | 55 | |
| Dilution | 49 | 62 | |
| Stable leadership | 100 | 75 | |
| Clean books | 100 | 100 |
Closest peers
Others in Research & Consulting Services, by management score. Equifax is 64th of 81 in its sector.
- 327VRSKVerisk Analytics59
- 328PCARPaccar59
- 335JJacobs Solutions59
- 336VLTOVeralto59
- 339EFXEquifax59
- 345EXPDExpeditors International59
Pay versus performance
From the proxy statement filed March 27, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mark W. Begor | $23.4m | −$3.7m | $6.3m | $117 | $169 | $664.0m |
| 2024 | — | $14.8m | $13.1m | $6.6m | $136 | $150 | $607.0m |
| 2023 | — | $13.0m | $32.1m | $6.2m | $131 | $121 | $552.0m |
| 2022 | — | $37.2m | −$19.0m | $3.7m | $102 | $115 | $700.0m |
| 2021 | — | $16.1m | $84.9m | $4.0m | $153 | $134 | $749.0m |
The board says pay is tied most to Adjusted EBITDA. Its other key measures: Revenue, TSR, Relative TSR.
Insiders and the CEO's stake
Mark W Begor (CEO) held 309,681 shares directly after their latest Form 4 on Jul 24, 2026, roughly $53.3m at that filing's price.
Light activity: no buys, $14.9m sold in six months. 15 of 15 sales ran on pre-arranged 10b5-1 plans.
- SoldMark W BegorCEO · 10b5-1 plan$13.0mJul 24, 2026
- SoldJohn W Jr GambleEVP, CFO & COO · 10b5-1 plan$1.5mSep 3, 2026
- SoldChad M BortonEVP, Pres Workforce Solutions · 10b5-1 plan$427kMay 7, 2026
Leadership and governance on file
- May 30, 2025Leadership change8-K 5.02
- Nov 8, 2024Leadership change8-K 5.02
- May 7, 2024Leadership change8-K 5.02
- May 6, 2024Leadership change8-K 5.02
- Feb 20, 2024Leadership change8-K 5.02
- Oct 20, 2023Leadership change8-K 5.02
- Feb 3, 2023Leadership change8-K 5.02
- Dec 5, 2022Leadership change8-K 5.02
- Aug 2, 2022Leadership change8-K 5.02
Latest shareholder vote results: May 13, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $2.0bn returned to owners in buybacks and dividends, 61% of net income, and $349.3m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $4.9bn | $5.1bn | $5.3bn | $5.7bn | $6.1bn |
| Net income | $744.2m | $696.2m | $545.3m | $604.1m | $660.3m |
| Stock-based pay | $54.9m | $62.6m | $71.8m | $81.6m | $78.4m |
| Buybacks | $69.9m | $0 | $0 | $0 | $927.5m |
| Dividends | $190.0m | $191.1m | $191.8m | $193.2m | $232.8m |
| Diluted shares | 124m | 123m | 124m | 125m | 124m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.