A Business at a Glance
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Table of Contents PART I Our Businesses First Horizon Corporation is a Tennessee corporation. We incorporated in 1968, and are headquartered in Memphis, Tennessee. We are registered as a bank holding company and have elected to be treated as a financial holding company. Our common stock is listed on the New York Stock Exchange under the symbol “FHN.” At December 31, 2025, we had total consolidated assets of $84 billion. We provide commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services principally through our wholly-owned subsidiary, First Horizon Bank. Founded in 1864 as First National Bank of Memphis, the Bank is a Tennessee banking corporation headquartered in Memphis, Tennessee.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 3.4B | 3.4B | 3.2B | 3.5B | 3.2B | 3.1B |
| Net Income | 956M | 956M | 738M | 865M | 868M | 962M |
| EPS | $1.87 | $1.87 | $1.36 | $1.54 | $1.53 | $1.74 |
| Free Cash Flow | 595M | 595M | 1.2B | 1.3B | 2.3B | 688M |
| ROIC | 10.7% | 10.7% | 8.2% | 9.9% | 10.5% | 11.8% |
| Gross Margin | 99.4% | 99.4% | 99.9% | 99.9% | 99.3% | 89.9% |
| Debt/Equity | 0.38 | 0.38 | 0.39 | 0.29 | 0.31 | 0.27 |
| Dividends/Share | $0.61 | $0.60 | $0.60 | $0.60 | $0.60 | $0.60 |
| Operating Income | 88M | 88M | 93M | 103M | 75M | 67M |
| Operating Margin | 2.6% | 2.6% | 2.9% | 3.0% | 2.3% | 2.2% |
| ROE | 10.8% | 10.8% | 8.3% | 10.0% | 10.6% | 11.9% |
| Shares Outstanding | 511M | 511M | 543M | 562M | 567M | 553M |
FIRST HORIZON CORP passes 4 of 9 quality checks, suggesting mixed fundamentals.
FIRST HORIZON CORP trades at 13.0x trailing earnings, compared to its 15-year median P/E of 11.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 19.7x vs a median of 11.0x. The company's 5-year average ROIC is 10.2% with a gross margin of 97.7%. Total shareholder yield (dividends + buybacks) is 9.9%. At current prices, the estimated annualized return to fair value is +17.3%.
FIRST HORIZON CORP (FHN) has a current P/E ratio of 13.0, compared to its historical median P/E of 11.3. The stock is currently considered Fair based on its historical valuation range.
FIRST HORIZON CORP (FHN) has a 5-year average return on invested capital (ROIC) of 10.2%. This indicates solid capital allocation.
FIRST HORIZON CORP (FHN) has a market capitalization of $12.4B. It is classified as a large-cap stock.
Yes, FIRST HORIZON CORP (FHN) pays a dividend with a trailing twelve-month yield of 2.53%. The company also returns capital through share buybacks, with a buyback yield of 7.40%.
Based on historical P/E analysis, FIRST HORIZON CORP (FHN) appears fair. The current P/E of 13.0 is 15% above its historical median of 11.3. The estimated fair value CAGR (P/E method) is 0.3%.
FIRST HORIZON CORP (FHN) operates in the National Commercial Banks industry, within the Financials sector.
FIRST HORIZON CORP (FHN) reported annual revenue of $3.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
FIRST HORIZON CORP (FHN) has a net profit margin of 28.0%. This is a strong margin indicating high profitability.
FIRST HORIZON CORP (FHN) generated $595 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FIRST HORIZON CORP (FHN) has a debt-to-equity ratio of 0.38. This indicates a conservatively financed balance sheet.
FIRST HORIZON CORP (FHN) reported earnings per share (EPS) of $1.87 in its most recent fiscal year.
FIRST HORIZON CORP (FHN) has a return on equity (ROE) of 10.8%. This indicates moderate shareholder returns.
FIRST HORIZON CORP (FHN) has a 5-year average gross margin of 97.7%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for FIRST HORIZON CORP (FHN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FIRST HORIZON CORP (FHN) has a book value per share of $17.31, based on its most recent annual SEC filing.