Experian (J2B) Q4 2026 Earnings Report

The call presents a strongly positive performance: record-year financials, broad-based organic revenue growth, double-digit EPS growth, margin expansion ahead of guidance, robust cash generation, completed cloud migration milestones in key markets, and aggressive AI and platform-driven growth initiatives (identified $15B incremental TAM). Notable near-term headwinds include the wind-down of two large breach contracts, FICO mortgage royalty impact, mortgage volume sensitivity to rates, higher interest costs, and some regional/B2B cyclicality. Overall, strategic progress, platform scale, strong renewals and capital returns indicate momentum outweighs manageable short-term challenges.

Guidance for FY‑27: Experian expects double‑digit Benchmark EPS growth, with total reported revenue up 8–11% and organic revenue up 6–8% (completed acquisitions contributing ~1ppt); Benchmark EBIT margin to improve ~50bps on a constant currency basis (FX a 1–2% tailwind). Net interest is guided to $250–260m, Benchmark tax rate ~26%, capital expenditure about 8% of revenue (FY‑26 was 8.6%), and Benchmark operating cash‑flow conversion above 90%. The company assumes lapping a one‑time North America volume true‑up and the wind‑down of two large breach contracts (and flags the FICO mortgage royalty as a headwind); completed buybacks and M&A imply a FY‑26 net debt/EBITDA of 1.7x (pro‑forma ~2.3x), WANOS 880–885m (closing share count ~870m) after an additional $1bn buyback (total $2bn announced).