TransUnion

What they do

TransUnion operates through two reportable segments: U.S. Markets and International. It provides data, analytics, and actionable insights to businesses for credit risk management, marketing, identity verification, and fraud mitigation, and to consumers for personal financial management and identity theft protection. The company leverages its OneTru platform to centralize data management and AI-powered analytics.

Revenue drivers

• U.S. Markets - Financial Services — Largest revenue contributor, generating $496 million in Q2 2026, up 18% year-over-year, driven by credit risk and decisioning solutions for lenders.
• U.S. Markets - Emerging Verticals — Revenue of $354 million in Q2 2026, up 9% year-over-year, serving industries like insurance, technology, retail, and telecommunications.
• U.S. Markets - Consumer Interactive — Revenue of $142 million in Q2 2026, down 3% year-over-year, from consumer-facing credit monitoring and identity protection services.
• International — Revenue of $321 million in Q2 2026, up 27% reported (6% organic constant currency), with growth led by Canada (10%), Latin America (5% organic), and India (8% organic).

Recent performance

For Q2 2026, total revenue was $1,310 million, up 15% year-over-year (10% organic constant currency). Net income attributable to TransUnion was $143 million, up from $110 million, with diluted EPS of $0.74 versus $0.56. Adjusted EBITDA rose 12% to $456 million, with margin of 34.8%, down from 35.7%. Cash provided by operating activities for the first half of 2026 was $459 million, up from $344 million in the prior year.

Strategy

TransUnion is focused on innovation-led, scalable growth, emphasizing the migration of U.S. credit customers to its OneTru platform and accelerating new product introductions globally. The company is expanding into complementary verticals, deepening fraud and marketing solutions, and building its geographic portfolio. It also prioritizes free cash generation and shareholder returns, having repurchased approximately $150 million of shares year-to-date through July 2026.

Risks

• Concentration in financial services — A significant portion of revenue comes from U.S. financial services and consumer credit; a downturn could reduce demand for services.
• Data security and integrity — Cybersecurity incidents or breaches could result in business loss, regulatory enforcement, legal liability, and reputational harm.
• Competition and free data availability — Increasing availability of free or inexpensive consumer information may reduce demand for some services, and competition may pressure pricing.
• Key customer concentration — Loss or non-renewal of agreements with large or long-term customers could materially hurt results.

Outlook

Management raised full-year 2026 guidance, now expecting 12% to 13% reported revenue growth and 8% to 9% organic constant currency growth. They anticipate a third consecutive year of at least high-single-digit organic constant currency revenue growth and double-digit adjusted diluted EPS growth. The outlook balances strong first-half momentum against continued market uncertainty.