Equifax (NYSE:EFX) Preferred Stock

: $0 Mil (As of Jun. 2023)

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Preferred stock is a special equity security that has properties of both equity and debt. Equifax's preferred stock for the quarter that ended in Jun. 2023 was $0 Mil.

The market value of preferred stock needs to be added to the market value of common stocks in the calculation of Enterprise Value. Equifax's Enterprise Value for the quarter that ended in Jun. 2023 was $34,396 Mil.

In the calculation of book value, the par value of preferred stocks needs to subtracted from total equity. Equifax's Book Value per Share for the quarter that ended in Jun. 2023 was $34.16.

Dividends paid to preferred stocks need to be subtracted from net income in the calculation of Earnings per Share (Diluted). Equifax's Earnings per Share (Diluted) for the three months ended in Jun. 2023 was $1.12.

Equifax Preferred Stock Historical Data

The historical data trend for Equifax's Preferred Stock can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Equifax Annual Data

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Preferred Stock

Equifax Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Preferred Stock																-	-	-	-	-

Equifax Preferred Stock Calculation

Preferred Stock is a special equity security that has properties of both equity and debt. It is generally considered a hybrid instrument. Preferred stock is senior to common stock, but is subordinate to bonds in terms of claim or rights to their share of the assets of the company.

Preferred stock has priority over common stock in the payment of dividends and any payments received when a company liquidates.

Preferred stock comes in many forms. It can be:

Convertible or Non-Convertible
Cumulative or Non-Cumulative
Voting or Non-Voting
Callable or Non-Callable
Maturity Date or No Maturity Date

A preferred stock without a maturity date is called a perpetual preferred stock. These are relatively rare. A good example of perpetual preferred stock is the many series of Public Storage (PSA) preferred shares that trade on the New York Stock Exchange.

Before investing in preferred stock, it is important to know which of the above groups the stock belongs to. Is it convertible or non-convertible? Are dividends cumulative or non-cumulative?

It is also critical that an investor knows what bonds the company has in front of the preferred stock. Bondholders get paid first. So the decision to buy a preferred stock can be similar to the decision to buy a bond. But, remember, the preferred stock of a company with bonds is junior to those bonds.

Unless a preferred stock is convertible, the upside in a preferred stock investment is more limited than in a common stock investment. If a company doubles its earnings, it is usually under no more obligation to double the dividends paid to preferred shareholders than it is to double the interest paid to its bankers and bondholders.So preferred stock is very different from common stock.

Equifax (NYSE:EFX) Preferred Stock Explanation

When a company needs capital but does not wish to issue debt, they may sell preferred stocks to investors.

For instance, during the financial crisis of 2008, Goldman Sachs (GS) issued a combination of preferred stock and common stock options for $5 billion of capital to Warren Buffetts Berkshire Hathaway (BRK.A)(BRK.B). In this deal, Berkshire Hathaway paid $5 billion for 10% cumulative perpetual preferred stock and warrants to buy 43.5 million shares of Goldman Sachs at $115 a share. Goldman Sachs bought back the preferred in 2010. Guess how much money Warren Buffett made in this deal in two years? Read How Much Did Warren Buffetts Berkshire Hathaway (BRK.B) Make on Its Goldman Sachs (GS) Preferred Stock?

1. The market value of Preferred Stocks needs to be added to the market value of common stocks in the calculation of enterprise value.

Equifax's Enterprise Value for the quarter that ended in Jun. 2023 is calculated as

	Enterprise Value
=	Market Cap	+	Preferred Stock	+	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation	+	Minority Interest
=	28871.31	+	0	+	5503	+	169.1	+	17.1
-	Cash, Cash Equivalents, Marketable Securities
-	164.1
=	34,396

2. In the calculation of Book Value, the par value of Preferred Stocks needs to subtracted from total equity.

Equifax's Book Value per Share for the quarter that ended in Jun. 2023 is calculated as

Book Value per Share	=	(Total Stockholders Equity	-	Preferred Stock)	/	Shares Outstanding (Diluted Average)
	=	(4191.2	-	0)	/	122.7
	=	34.16

3. Dividends paid to Preferred Stocks need to be subtracted from net income in the calculation of earnings per share.

Equifax's Earnings per Share (Diluted) (EPS) for the three months ended in Jun. 2023 is calculated as

Earnings per Share (Diluted)	=	(Net Income	-	Preferred Dividends)	/	Shares Outstanding (Diluted Average)
	=	(138.3	-	0)	/	123.800
	=	1.12

Equifax Preferred Stock Related Terms

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Equifax (NYSE:EFX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Equifax Inc (NYSE:EFX) » Definitions » Preferred Stock

Comparable Companies

Traded in Other Exchanges

EFX:Germany EFX:Germany

Address

1550 Peachtree Street N.W., Atlanta, GA, USA, 30309

Website

https://www.equifax.com

Along with Experian and TransUnion, Equifax is one of the leading credit bureaus in the United States. Equifax's credit reports provide credit histories on millions of consumers, and the firm's services are critical to lenders' credit decisions. In addition, about a third of the firm's revenue comes from workforce solutions, which provides income verification and employer human resources services. Equifax generates over 20% of its revenue from outside the United States.

Executives

Todd Michael Horvath	officer: EVP, President USIS	EQUIFAX INC, 1550 PEACHTREE STREET NW, ATLANTA GA 30309
Karen Linn Fichuk	director	EQUIFAX INC., 1550 PEACHTREE STREET NW, ATLANTA GA 30309
Lisa M Nelson	officer: President-International	EQUIFAX INC., 1550 PEACHTREE STREET NW, ATLANTA GA 30309
Audrey B Tillman	director	1932 WYNNTON RD, COLUMBUS GA 31999
Melissa D Goodwin	director	C/O WRIGHT EXPRESS CORPORATION, 97 DARLING AVENUE, SOUTH PORTLAND ME 04106
Sunil Bindal	officer: SVP, Corp Development	EQUIFAX INC., 1550 PEACHTREE STREET NW, ATLANTA GA 30309
Lindsay B Parker	officer: Chief Marketing Officer	EQUIFAX INC, 1550 PEACHTREE STREET NW, ATLANTA GA 30309
Beverly J Anderson	officer: Pres-Global Consumer Solutions	1550 PEACHTREE STREET NW, ATLANTA GA 30309
Elane B Stock	director	351 PHELPS DRIVE, IRVING TX 75038
G. Thomas Hough	director	P.O. BOX 407, LAKELAND FL 33802
John A Mckinley	director	C/O EQUIFAX INC, 1550 PEACHTREE STREET NW, ATLANTA GA 30309
Robert D Marcus	director	C/O TIME WARNER CABLE INC., 60 COLUMBUS CIRCLE, 17TH FLOOR, NEW YORK NY 10023
Robert W Selander	director	MASTERCARD INTERNATIONAL, 2000 PURCHASE STREET, PURCHASE NY 10577
Heather H Wilson	director	1550 PEACHTREE STREET NW, ATLANTA GA 30309
Carla Chaney	officer: CVP & Chief HR Officer	5302 LAKE VIEW CLUB, DUNWOODY GA 30338