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Earnings transcript
Read the complete earnings call transcript.
FHN
First Horizon Corporation
$23.18
0.2
(0.87%)
| Exchange: | NYSE |
| Market Cap: | 11.2B |
| Shares Outstanding: | 98.639M |
About The Company
| Sector: | Financial Services | |||||
| Industry: | Banks – Regional | |||||
| CEO: | D. Bryan Jordan | |||||
| Full Time Employees: | 7200 | |||||
| Address: |
| |||||
| Website: | https://www.firsthorizon.com |
First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments. The company also underwrites bank-eligible securities and other fixed-income securities eligible for underwriting by financial subsidiaries; sells loans and derivatives; and offers advisory services. In addition, it offers various services, such as mortgage banking; title insurance and loan-closing; brokerage; correspondent banking; nationwide check clearing and remittance processing; trust, fiduciary, and agency; equipment finance; and investment and financial advisory services. Further, the company sells mutual fund and retail insurance products; and credit cards. It operates approximately 500 banking offices in 22 states under the First Horizon Bank brand; and 400 banking centers in 12 states under the FHN Financial brand in the United States. The company was formerly known as First Horizon National Corporation and changed its name to First Horizon Corporation in November 2020. First Horizon Corporation was founded in 1864 and is headquartered in Memphis, Tennessee.
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Revenue Segmentation
EPS
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Earnings Call
AI summary
Key takeaways
Short, structured highlights from the call so you can focus on what matters.
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 4,715,000 | 4,937,000 | 4,985,000 |
| Gross Profit | 2,895,000 | 2,946,000 | 3,356,000 |
| EBITDA | 1,230,000 | 1,106,000 | 1,337,000 |
| Operating Income | 1,128,000 | 1,005,000 | 1,281,000 |
| Net Income | 897,000 | 775,000 | 983,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 81,661,000 | 82,152,000 | 83,876,000 |
| Total Liabilities | 72,370,000 | 73,041,000 | 74,734,000 |
| Total Stockholders Equity | 8,996,000 | 8,816,000 | 8,847,000 |
| Total Debt | 3,699,000 | 4,595,000 | 4,574,000 |
| Cash and Cash Equivalents | 2,340,000 | 2,444,000 | 961,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 1,299,000 | 1,268,000 | 628,000 |
| Capital Expenditure | -37,000 | -44,000 | 0 |
| Free Cash Flow | 1,262,000 | 1,224,000 | 628,000 |
| Net Income | 916,000 | 794,000 | 983,000 |
| Net Change in Cash | 188,000 | -194,000 | 0 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 3,883,667.620 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 3,920,223.359 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 3,901,945.490 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 1,195,524.151 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 1,206,777.243 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 1,201,150.697 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 1,307,753.602 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 1,347,235.202 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 1,327,494.402 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 1,267,244.530 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 1,279,172.703 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 1,273,208.617 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 2.670 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 2.720 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 2.640 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 1 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 3 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Solid Earnings Performance: First Horizon reported earnings per share of $0.52 in Q4 2025, surpassing market expectations, as highlighted in the earnings call transcript. This demonstrates strong operational execution and profitability amidst competitive pressures.
- Robust Revenue Growth: Historical income statements indicate consistent revenue increases over recent years, supported by diversified product segments as shown in revenue product segment data. This reflects a resilient business model within the financial services sector.
- Strong Liquidity Position: Balance sheet data reveals a healthy level of cash and cash equivalents alongside a favorable current ratio (TTM), indicating the company’s ability to meet short-term obligations effectively.
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Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates FHN intrinsic value between $26.35 – $33.09 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about FHN valuation
Is First Horizon Corporation (FHN) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for First Horizon Corporation (FHN) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is FHN a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether FHN trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is FHN’s P/E ratio?
You can see FHN’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for FHN?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is FHN a good long-term investment?
Whether FHN fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
FHN
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0.87
Trading Metrics:
| Open: | 22.57 | Previous Close: | 22.98 | |
| Day Low: | 22.35 | Day High: | 23.2 | |
| Year Low: | Year High: | |||
| Price Avg 50: | Price Avg 200: | |||
| Volume: | Average Volume: |
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