TransUnion financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TransUnion files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,705	1,934	2,317	2,463	2,531	2,960	3,710	3,831	4,184	4,576
Cost of revenue	579	646	790	874
Gross profit	1,126	1,288	1,527	1,589
Selling, general and administrative	560	585	708	777	830	909	1,179	1,172	1,239	1,265
Operating expenses	1,404	1,469	1,805	1,922	2,030	2,308	3,084	3,703	3,517	3,719
Operating income	301	465	513	542	500	652	626	129	667	858
Interest expense	85.5	87.6	138	174	126	113	231	288	265	236
Interest income	4.6	5.5	5.5	7.5	5.6	3.4	4.7	20.7	28.5	33.2
Other non-operating income	-95.1	-92.2	-169	-167	-111	-146	-243	-274	-266	-215
Pre-tax income	205	373	344	375	390	506	383	-145	401	643
Income tax	74	-79.1	54.5	70.5	83.7	132	119	44.7	98.8	173
Income from continuing operations	121	441	278	299	293	359	249	-205	284	455
Net income to minority interests	10.8	10.4	10.9	5.1	12.4	15	15.2	15.4	18	14.5
Net income	121	441	277	347	343	1,390	266	-206	284	455
EBITDA	566	703	819	880	847	1,029	1,145	653	1,205	1,433
EPS, basic	0.66	2.42	1.50	1.85	1.81	7.26	1.38	-1.07	1.46	2.34
EPS, diluted	0.65	2.32	1.45	1.81	1.79	7.20	1.38	-1.07	1.45	2.32
Shares, basic (weighted)	183	182	185	188	190	191	193	193	194	194
Shares, diluted (weighted)	185	190	191	192	192	193	193	193	197	197
Dividend per share			0.08		0.08		0.40	0.42	0.42	0.46

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	182	116	187	274	493	1,842	585	476	680	854
Short-term investments	3.3	3.3	2.9	2.9	3.2	3.1	2.6	2.7	2.5	2.7
Receivables	278	327	457	444	393	558	602	723	799	905
Other current assets	89.9	146	137	170	156	232	263	276	323	258
Total current assets	550	589	842	888	1,470	2,632	1,450	1,475	1,802	2,016
Property, plant and equipment	198	199	220	219	220	248	218	199	204	258
Lease right-of-use assets			0	71.2	59.8	145	127	98.9	55.8	49.2
Goodwill	2,174	2,369	3,294	3,143	3,227	5,526	5,551	5,176	5,144	5,260
Intangible assets	1,762	1,826	2,548	2,392	2,173	3,771	3,676	3,515	3,258	3,099
Long-term investments	12.4	12.7	12.4
Other non-current assets	97.5	137	136	236	223	459	771	739	578	480
Total assets	4,781	5,119	7,040	7,113	7,312	12,635	11,666	11,105	10,985	11,113
Accounts payable	114	131	170	176	188	270	250	251	295	350
Accrued liabilities	20.8	18.5	19.5	50.2	39.5	66.8	53.5	71.5	94.2	19.8
Deferred revenue	12	13.2	73.1	82.8	79.3	134	112	125	134	130
Short-term debt	50.4	119	71.7	58.7	55.5	115	115	89.6	70.6	197
Total current liabilities	373	458	549	571	670	1,357	906	1,003	1,060	1,154
Long-term debt	2,325	2,345	3,976	3,598	3,399	6,251	5,556	5,251	5,077	4,907
Lease liabilities			0	57.2	49	119	102	81.8	41.5	34.8
Other non-current liabilities	30.7	70.8	54.7	165	210	233	174	153	115	117
Total liabilities	3,308	3,294	5,058	4,774	4,676	8,629	7,397	7,000	6,666	6,568
Total debt	2,376	2,465	4,048	3,657	3,454	6,366	5,670	5,340	5,147	5,104
Paid-in capital	1,845	1,864	1,947	2,022	2,088	2,189	2,290	2,413	2,559	2,424
Retained earnings	-304	137	363	652	937	2,255	2,447	2,157	2,358	2,724
Treasury stock	-5.3	-139	-140	-179	-215	-252	-285	-303	-335	-370
Other comprehensive income	-175	-135	-283	-252	-272	-285	-285	-261	-367	-340
Shareholders' equity	1,363	1,729	1,890	2,245	2,540	3,908	4,170	4,008	4,217	4,439
Minority interests	110	95.9	92.5	94	95.9	98.1	99.5	97.3	102	106
Total equity	1,473	1,825	1,982	2,339	2,636	4,006	4,269	4,106	4,319	4,545
Total liabilities and equity	4,781	5,119	7,040	7,113	7,312	12,635	11,666	11,105	10,985	11,113
Shares outstanding	183	183	186	189	191	192	193	194	195	192

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	131	452	288	352	356	1,405	282	-191	302	470
Depreciation and amortization	265	238	307	339	347	377	519	524	538	575
Stock-based compensation	24.4	33.1	57.9	48.3	44.3	69.2	82.8	100	121	146
Deferred income tax	-22.2	-213	-69	-23	-36.1	-17.2	-88.9	-163	-157	-28.8
Change in receivables	-42.5	-44.7	-114	16.3	-15.6	-36.2	-37.5	-135	-106	-119
Change in payables						41.5	-16.5
Cash from operations	390	466	556	777	788	808	297	645	833	988
Capital expenditures	-124	-135	-180	-188	-206	-224	-298	-311	-316	-326
Cash from investing	-496	-481	-2,018	-204	-267	-2,213	-724	-319	-307	-332
Debt repaid	0	0	-114	-389	-209
Stock issued	6	27.1	26.2	24.4	22.9	21.9	18.7	23.1	24.9	22.5
Share buybacks	-0.7	-134	0	0				0	0	-302
Dividends paid	0	0	-41.6	-56.8	-57.6	-69.8	-77.8	-81.8	-82.7	-90.5
Cash from financing	154	-51.7	1,540	-487	-297	2,762	-821	-439	-309	-495
Exchange rate effect	1.1	0.3	-6.6	0.6	-4.4	-8	-9.9	3.2	-13.1	12.8
Net change in cash	49	-66.4	71.6	86.9	219	1,350	-1,257	-109	203	174
Free cash flow	266	331	376	589	582	584	-1	335	517	662
Interest paid	87.9	90.2	132	164	120	109	221	281	261	234
Income taxes paid	93.6	120	111	111	132	181	574	206	203	260

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $69.17 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	17.9%	Operating income / revenue.
EBITDA margin	30.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	18.6%	Pre-tax income / revenue.
Net margin	14.9%	Net income / revenue.
FCF margin	14.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	21.6%	Cash from operations / revenue.
Effective tax rate	18.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	14.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.8%	Net income / average total assets.
Return on invested capital (ROIC)	7.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	28.3%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	3.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.8%	Capital expenditures / revenue.
D&A / revenue	12.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	12.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	28.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	11.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	11.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	18.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	7.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	11.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	60.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	19.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	5.8%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	60.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	18.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	5.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	18.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	49.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	4.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	28.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	2.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	9.5%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	4.8%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	43.7%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	5.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	11.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	1.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-1.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	8.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.93x	Current assets / current liabilities.
Quick ratio	1.70x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.70x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.18x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	46.5%	Total debt / total assets.
Liabilities / assets	59.2%	Total liabilities / total assets.
Net debt	$4.87B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	3.39x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	3.51x	Operating income / interest expense.
Working capital	$971.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	77.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$4.59B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.39x	Revenue / average total assets.
Fixed asset turnover	17.2x	Revenue / average property, plant and equipment.
Receivables turnover	4.51x	Revenue / average receivables.
Days sales outstanding	81 days	365 x average receivables / revenue.
FCF conversion	98.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	31.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.62	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$24.30	Revenue / diluted weighted shares.
FCF per share	$3.58	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.24	Cash from operations / diluted weighted shares.
Book value per share	$24.66	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$23.79	Tangible book value / shares outstanding.
Cash per share	$3.80	(Cash + short-term investments) / shares outstanding.
Payout ratio	13.2%	Dividends paid / net income, when net income is positive.
Dividends / FCF	13.3%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	44.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$13.25B	Share price x shares outstanding.
Enterprise value	$18.13B	Market cap + total debt - cash - short-term investments.
P/E	18.8x	Market cap / net income. Only when net income is positive.
P/S	2.80x	Market cap / revenue.
P/B	2.79x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	19.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	13.0x	Market cap / cash from operations, when positive.
EV/Sales	3.84x	Enterprise value / revenue.
EV/EBIT	21.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	12.6x	Enterprise value / EBITDA, when both are positive.
EV/FCF	26.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.3%	Free cash flow / market cap.
Earnings yield	5.3%	Net income / market cap (the inverse of P/E).
Dividend yield	0.7%	Dividends paid over the period / market cap.
Shareholder yield	3.0%	(Dividends paid + share buybacks) / market cap.
PEG	1.00x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was TransUnion's revenue in fiscal 2025?

TransUnion reported revenue of $4.58B for fiscal 2025, 9.4% higher than the year before.

Was TransUnion profitable in fiscal 2025?

Yes. Net income was $455.4M, a net margin of 10%.

How much free cash flow did TransUnion generate in fiscal 2025?

Cash from operations of $987.6M minus capital expenditures of $326.0M left free cash flow of $661.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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