Experian

Experian is one of the world's largest credit bureaus. It collects data on how people and businesses borrow and repay money. It sells credit reports, scores and analytics to banks, lenders, insurers and other businesses that must decide to whom they lend or with whom they do business. North America is its largest market, with about 67% of revenue in the year to March 2026.

There, Experian also runs Experian Health and a large automotive data business. Latin America, mostly Brazil through the Serasa brand, gives about 15% of revenue. The UK and Ireland give 11%, and EMEA and Asia Pacific give 7%. Experian also runs a large Consumer Services business with more than 215 million free members worldwide.

They get free credit reports and monitoring, and some pay for premium subscriptions or identity protection. Experian is incorporated in Jersey, is tax resident in Ireland and has its head office in Dublin. Its main listing is on the London Stock Exchange, where it is in the FTSE 100. Each US ADR (EXPGY) is one ordinary share and trades over the counter on OTCQX.

Brian Cassin has been CEO since July 2014.

Investors fear that lenders will need less credit bureau data. AI tools and new data sources can let lenders score borrowers without a bureau. US mortgage policy now adds a second fear. FICO announced in October 2025 that it will license mortgage scores directly to lenders.

In September 2026 the head of the FHFA, the regulator of Fannie Mae and Freddie Mac, opened VantageScore 4.0 to all of their lenders and said that the bureaus charge too much. In October 2026 Bloomberg reported that the FHFA will let lenders pull credit reports from two bureaus instead of three. The gap can close if Experian keeps organic revenue growth inside its 6% to 8% guidance for fiscal 2027, as it did with 7% in the first quarter. North America B2B growth must stay strong while the mortgage rules change, and the new cash flow data and fraud products must add growth.

A settlement or ruling in the CFPB lawsuit over dispute investigations without a large penalty would remove a smaller doubt. The evidence comes with the half-year results on November 18, 2026, the third-quarter update in January 2027 and the full-year results with fiscal 2028 guidance in May 2027. If growth holds through these reports, the gap can close over the next two to four quarters. If the mortgage changes or AI scoring cause a clear loss of volume, the gap can stay open for years.

1. Jul 16, 2026Passed

   Q1 FY27 trading update: organic growth against guidanceOrganic revenue growth inside the 6% to 8% range with guidance kept passes; growth below 6% or a guidance cut fails.Outcome: Organic revenue grew 7% and Experian kept its full-year guidance unchanged.
2. Oct 2026 · est.Due this month

   FHFA decision on credit reports from two bureausNo change, or a change that starts slowly and keeps Experian in most mortgage files, passes; an immediate move to two bureaus with lower report prices fails.
3. Nov 18, 2026Pending

   H1 FY27 results: organic growth, margin and leverageOrganic growth of 6% to 8% with a higher Benchmark EBIT margin passes; growth below 6% or weaker North America B2B growth fails.
4. Jan 2027 · est.Pending

   Q3 FY27 trading updateOrganic growth stays inside the 6% to 8% range with no sign that lenders are dropping bureau data passes; a slowdown below 6% fails.
5. May 2027 · est.Pending

   FY27 full-year results and FY28 guidanceFull-year organic growth of 6% to 8% and FY28 guidance for similar growth pass; lower FY28 growth guidance because of AI, score competition or mortgage rule changes fails.

Every passed and failed checkpoint across all picks

Experian reports in US dollars. Most of its debt is unsecured bonds that the group issues centrally. Read more

• Lenders can need less bureau data if AI tools or new data sources let them score borrowers without a bureau. The FICO plan from October 2025 to sell mortgage scores directly to lenders shows that a large partner is ready to remove the bureaus from part of the fee chain. This fear is the main reason for the price.
• US mortgage policy is moving against the bureaus. In September 2026 the FHFA opened VantageScore 4.0 to all lenders of Fannie Mae and Freddie Mac and said that the bureaus charge too much. In October 2026 Bloomberg reported a plan to accept reports from two bureaus instead of three. Each bureau can then lose some mortgage report volume and some pricing power.
• The CFPB is suing Experian Information Solutions over alleged "sham" investigations of consumer disputes. The court let the case continue in October 2025, and discovery continues. A loss could bring penalties and more costly dispute processes.
• North America gives about two-thirds of group revenue and depends on US consumer credit and mortgage activity. Less US lending, a weaker labor market or fewer mortgages would decrease the number of reports and scores that Experian sells.
• US political pressure on consumer lending can limit how Experian collects, prices or uses consumer data. In January 2026 President Trump called for a 10% cap on credit card interest rates, and bills for such a cap are in Congress.
• Experian reports in US dollars but earns much revenue in British pounds, Brazilian reais and other currencies. Changes in the dollar make reported growth look better or worse than the business.
• Experian buys many small companies (ClearSale in 2025, KYC360 in 2025, Own Up and Konfir in April 2026, idwall in July 2026) to add fraud, identity and data products. Each deal is small, but many integrations at the same time add execution risk.

• October 6, 2026Experian launched the Experian Cashflow Data Bureau, a new US consumer reporting agency for bank-account cash flow data that lenders can use with credit files.
• October 1, 2026Bloomberg reported that the FHFA plans to let Fannie Mae and Freddie Mac accept credit reports from any two of the three national bureaus instead of all three. The report said that the FHFA director was expected to announce the change at the Mortgage Bankers Association convention on October 12, 2026. US bureau shares fell on October 2.
• September 4, 2026FHFA director Bill Pulte told Fannie Mae and Freddie Mac to accept VantageScore 4.0 from all approved lenders. This ended a pilot for at most 50 lenders that started on May 1, 2026. He said that the bureaus charge too much and that the FHFA was considering reports from two bureaus. The Experian ADR fell 4.8% to $37.91 on the day. Experian co-owns VantageScore with Equifax and TransUnion.