First Horizon Corporation (FHN) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$0.5	$0.53	+6.0%	—	—	—
Q3 26	$0.46	$0.52	+13.0%	—	—	—
Q2 26	$0.45	$0.51	+13.3%	—	—	—
Q1 26	$0.42	$0.45	+7.1%	—	—	—
Q4 25	$0.4	$0.42	+5.0%	—	—	—
Q3 25	$0.39	$0.43	+10.3%	—	—	—
Q2 25	$0.38	$0.42	+10.5%	—	—	—
Q1 25	$0.37	$0.36	-2.7%	—	—	—
Q4 24	$0.34	$0.35	+2.9%	—	—	—
Q3 24	$0.31	$0.32	+3.2%	—	—	—
Q2 24	$0.24	$0.27	+12.5%	—	—	—
Q1 24	$0.41	$0.39	-4.9%	—	—	—
Q4 23	$0.47	$0.45	-4.3%	—	—	—
Q3 23	$0.48	$0.51	+6.3%	—	—	—
Q2 23	$0.43	$0.44	+2.3%	—	—	—
Q1 23	$0.36	$0.34	-5.6%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.89	—	—	$3.3B	—
FY24	—	$1.37	—	—	$3.1B	—
FY23	—	$1.58	—	—	$3.2B	—
FY22	—	$1.62	—	—	$3.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.2B	$1.3B	$1.9B	$1.8B	$2.6B	$3B	$3.1B	$3.2B	$3.1B	$3.3B
YoY change	+10.1%	+5.11%	+44.8%	-3.66%	+41.1%	+16.6%	+4.35%	+1.12%	-1.87%	+7.33%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.2B	1.3B	1.9B	1.8B	2.6B	3B	3.1B	3.2B	3.1B	3.3B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	654.6M	685M	683M	742M	1.1B	1.3B	1.2B	1.3B	1.3B	1.3B
Operating expenses	654.6M	685M	683M	742M	1.1B	1.3B	1.2B	1.3B	1.3B	1.3B
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—
Pretax income	345.3M	308.9M	714M	586M	933M	1.3B	1.2B	1.1B	1B	1.3B
Income tax	106.8M	131.9M	157M	134M	76M	274M	247M	212M	211M	282M
Net income	238.5M	177M	557M	452M	857M	1B	912M	916M	794M	998M
Net margin	19.2%	13.6%	29.5%	24.9%	33.4%	33.8%	29.2%	29%	25.6%	30%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	0.95	0.66	1.66	1.39	1.9	1.76	1.62	1.58	1.37	1.89
Diluted EPS	0.94	0.65	1.65	1.38	1.89	1.74	1.53	1.54	1.36	1.87

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	—	—	—	—	—	—	—	865M	863M	837M	861M
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	330M	338M	312M	333M
Operating expenses	—	—	—	—	—	—	—	—	330M	338M	312M	333M
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	—	—	—	—	—	—	—	—	344M	343M	342M	340M
Income tax	—	—	—	—	—	—	—	—	78M	77M	76M	66M
Net income	—	—	—	—	—	—	—	—	266M	266M	266M	274M
Net margin	—	—	—	—	—	—	—	—	30.8%	30.8%	31.8%	31.8%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	0.23	0.31	0.33	0.34	0.4	0.3	0.41	0.46	0.5	0.52	0.54	0.55
Diluted EPS	0.23	0.31	0.33	0.34	0.4	0.29	0.41	0.45	0.5	0.52	0.53	0.54

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	4.7B	4.8B	—	5.2B	—	—	13.1B	7.8B	10.9B	12.1B	11B
Enterprise value	357.3M	1.6B	—	3.9B	—	—	4.5B	-1.5B	4.2B	5B	12.3B
Shares outstanding	232.7M	241.4M	324.4M	313.6M	432M	546M	535M	548M	540M	505M	505M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	19.5	27.3	—	11.5	—	—	14.4	8.47	13.7	12.1	11.1
P/S	3.76	3.7	—	2.86	—	—	4.2	2.46	3.51	3.63	3.13
P/B	1.72	1.05	—	1.02	—	—	1.53	0.84	1.19	1.32	1.29
EV/Sales	0.29	1.25	—	2.17	—	—	1.45	-0.47	1.35	1.5	3.52
Earnings yield	5.12%	3.67%	—	8.7%	—	—	6.96%	11.8%	7.3%	8.27%	8.98%
FCF yield	2.52%	-1.7%	—	15%	—	—	17.3%	16.3%	11.3%	4.93%	8.7%
PEG	—	—	—	—	—	—	—	—	—	—	0.57

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	41.3%
Net margin	19.2%	13.6%	29.5%	24.9%	33.4%	33.8%	29.2%	29%	25.6%	30%	30.2%
ROE	8.82%	3.86%	11.6%	8.9%	10.3%	11.9%	10.7%	9.86%	8.71%	10.9%	11.5%
ROA	—	—	—	—	—	—	—	—	0.97%	1.19%	1.29%
Return on tangible assets	—	—	—	—	—	—	—	—	1.01%	1.24%	1.32%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Debt / equity	0.4	0.83	0.26	0.85	0.22	0.2	0.31	0.16	0.25	0.17	0.01
Debt / assets	—	—	—	—	—	—	—	—	0.03	0.02	0.03
Effective tax rate	30.9%	42.7%	22%	22.9%	8.15%	21.3%	21.3%	18.8%	21%	22%	21.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5.33	5.4	5.82	5.8	5.94	5.48	5.83	5.76	5.73	6.58	7.18
EPS (basic)	0.95	0.66	1.66	1.39	1.9	1.76	1.62	1.58	1.37	1.89	1.89
EPS (diluted)	0.94	0.65	1.65	1.38	1.89	1.74	1.53	1.54	1.36	1.87	2.08
Book value per share	11.6	19	14.8	16.2	19.2	15.6	16	17	16.9	18.1	17.9
FCF per share	0.5	-0.34	0.57	2.49	0.26	1.23	4.23	2.3	2.27	1.18	2.12
Cash per share	23.1	29	20.6	17.7	40.7	45.3	21.1	19.6	16.6	17	9.56
Capex per share	0.22	0.21	0.06	0.09	0.11	0.02	0.02	0.07	0.07	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.13%	3.81%	0.95%	1.6%	1.79%	0.37%	0.32%	1.14%	1.16%	—	—
Capex / operating cash flow	15.3%	194.7%	3.61%	3.89%	-13.3%	1.11%	0.45%	3.45%	3.49%	—	—
Payout ratio	29.2%	48.7%	26%	39.2%	27.9%	36.2%	39%	40.1%	45.5%	34.1%	30.8%
Dividend yield	1.5%	1.78%	—	3.41%	—	—	2.72%	4.73%	3.32%	2.82%	2.93%

Yield

2.93%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.17

ex-dividend Sep 11, 2026

Payout ratio

31%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 11, 2026	$0.17
Jun 12, 2026	$0.17
Mar 13, 2026	$0.17

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	—	—	—	—	—	—	—	$865M	$863M	$837M	$861M
YoY change	—	—	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	5.4B	7B	6.7B	5.6B	17.6B	24.8B	11.3B	10.7B	8.9B	8.6B
Receivables	57.4M	68.7M	38.9M	—	—	—	—	—	—	—
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	-51.2M	59.6M	32.4M	26M	165M	122M	68M	36M	4M	-31M
Goodwill & intangibles	424.8M	3.1B	3.2B	3.1B	3.7B	3.6B	3.5B	3.4B	3.3B	3.2B
Total assets	—	—	—	—	—	—	—	—	82.2B	83.9B
Accounts payable	—	—	—	—	—	—	—	—	—	—
Short-term debt	83.2M	3B	510.6M	3.5B	166M	102M	1.1B	326M	1B	242M
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	994.6M	775.9M	728.9M	791M	1.7B	1.6B	1.6B	1.1B	1.2B	1.3B
Total liabilities	—	—	—	—	—	—	—	—	73B	74.7B
Shareholders' equity	2.7B	4.6B	4.8B	5.1B	8.3B	8.5B	8.5B	9.3B	9.1B	9.1B
Total debt	1.1B	3.8B	1.2B	4.3B	1.8B	1.7B	2.7B	1.5B	2.2B	1.5B
Net debt	-355.5M	2B	-819.3M	3.2B	-7.7B	-14.4B	245M	-864M	-204M	-570M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	11B	—	10.8B	10.3B	10.6B	—	8.8B	8.6B	8.7B	8.6B	8.3B	8.3B
Receivables	—	—	—	—	—	—	—	—	—	—	—	—
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	-506M	—	—	—	-552M	—	—	—	-31M	—	—
Goodwill & intangibles	3.4B	—	3.4B	3.4B	3.3B	—	3.3B	3.3B	3.2B	3.2B	3.2B	3.2B
Total assets	—	—	81.8B	82.2B	82.6B	—	81.5B	82.1B	83.2B	83.9B	84.1B	84.4B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	492M	—	566M	1.9B	675M	—	1.2B	260M	1.6B	242M	2B	842M
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	1.2B	—	1.2B	1.2B	1.2B	—	1.7B	1.3B	1.3B	1.3B	1.3B	1.3B
Total liabilities	—	—	72.6B	73.3B	73.3B	—	72.4B	72.8B	73.9B	74.7B	74.7B	75B
Shareholders' equity	8.8B	—	9.2B	9B	9.3B	—	9B	9.3B	9.2B	9.1B	9.5B	9.5B
Total debt	1.6B	—	1.7B	3.1B	1.9B	—	2.9B	1.6B	2.9B	1.5B	3.3B	2.2B
Net debt	-1.3B	—	-903M	697M	-437M	—	835M	-297M	784M	-570M	1.3B	-29M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	238.5M	177M	557M	452M	857M	1B	912M	916M	794M	998M
Depreciation & amortization	64.7M	70.9M	59M	66M	62M	45M	85M	102M	101M	64M
Stock-based compensation	17.5M	20.6M	23M	22M	32M	43M	75M	36M	59M	61M
Change in working capital	-61.5M	-147M	100.6M	1.3B	1.7B	2.2B	2.6B	849M	1B	535M
Operating cash flow	333.9M	25.5M	498.6M	744.9M	-345M	993M	2.2B	1B	1B	628M
Capital expenditure	-51.2M	-49.6M	-18M	-29M	-46M	-11M	-10M	-36M	-36M	—
Investing cash flow	-80M	-395.6M	417M	365M	2B	-1.6B	-2B	642M	488M	170M
Dividends paid	-69.7M	-86.1M	-145M	-177M	-239M	-366M	-356M	-367M	-361M	-340M
Share repurchases	-97.4M	-5.6M	-105M	-134M	-11M	-416M	-12M	-10M	-626M	-918M
Financing cash flow	-435.7M	2B	-2.9B	1.7B	-725M	-931M	501M	-351M	-255M	-1.4B
Net change in cash	-181.8M	1.6B	-1.9B	2.8B	969M	-1.5B	730M	1.3B	1.3B	-578M
Free cash flow	117.4M	-81.8M	186M	781M	114M	672M	2.3B	1.3B	1.2B	595M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	142M	189M	197M	204M	223M	170M	222M	245M	265M	266M	266M	275M
Depreciation & amortization	30M	11M	26M	25M	31M	19M	22M	19M	6M	17M	22M	19M
Stock-based compensation	13M	15M	18M	13M	13M	15M	18M	15M	15M	13M	13M	14M
Change in working capital	212M	75M	595M	121M	-115M	408M	234M	189M	-445M	557M	351M	743M
Operating cash flow	588M	319M	788M	-204M	356M	93M	309M	53M	-200M	396M	278M	585M
Capital expenditure	-9M	-14M	-10M	-11M	2M	-17M	-9M	-9M	—	—	—	—
Investing cash flow	236M	147M	169M	210M	-3M	112M	-13M	36M	107M	22M	15M	282M
Dividends paid	-92M	-92M	-93M	-94M	-89M	-85M	-88M	-87M	-84M	-81M	-78M	-92M
Share repurchases	0	0	-159M	-328M	-75M	-64M	-365M	-28M	-270M	-255M	-235M	-178M
Financing cash flow	-4.5B	-55M	-88M	1.4B	-2.1B	561M	434M	-803M	437M	-1.4B	986M	-1.4B
Net change in cash	-3.7B	411M	869M	1.4B	-1.7B	766M	730M	-714M	344M	-1B	1.3B	-569M
Free cash flow	689M	351M	828M	-161M	383M	174M	340M	74M	-208M	389M	270M	566M

Date	Ratio
Dec 8, 2010	1:1
Sep 8, 2010	1:1
Jun 9, 2010	1:1
Mar 10, 2010	1:1
Dec 9, 2009	1:1
Sep 9, 2009	10159:10000
Jun 10, 2009	1:1
Mar 11, 2009	1:1
Dec 10, 2008	1:1
Sep 10, 2008	10306:10000
Feb 23, 1998	2:1
Feb 20, 1996	2:1
May 26, 1992	3:2
Nov 22, 1985	3:2

First Horizon Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history