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FIRST HORIZON CORP (FHN) Stock Fundamental Analysis

NYSE:FHN - New York Stock Exchange, Inc. - US3205171057 - Common Stock - Currency: USD

22.01  +0.25 (+1.15%)

After market: 21.9 -0.11 (-0.5%)

Fundamental Rating

3

Taking everything into account, FHN scores 3 out of 10 in our fundamental rating. FHN was compared to 395 industry peers in the Banks industry. FHN has a bad profitability rating. Also its financial health evaluation is rather negative. FHN has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

FHN had positive earnings in the past year.
FHN had a positive operating cash flow in the past year.
FHN had positive earnings in each of the past 5 years.
In the past 5 years FHN always reported a positive cash flow from operatings.
FHN Yearly Net Income VS EBIT VS OCF VS FCFFHN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

1.2 Ratios

FHN has a Return On Assets (0.94%) which is comparable to the rest of the industry.
FHN has a Return On Equity (8.77%) which is in line with its industry peers.
Industry RankSector Rank
ROA 0.94%
ROE 8.77%
ROIC N/A
ROA(3y)1.02%
ROA(5y)1.02%
ROE(3y)9.5%
ROE(5y)10.1%
ROIC(3y)N/A
ROIC(5y)N/A
FHN Yearly ROA, ROE, ROICFHN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

FHN's Profit Margin of 24.10% is in line compared to the rest of the industry. FHN outperforms 53.67% of its industry peers.
In the last couple of years the Profit Margin of FHN has remained more or less at the same level.
The Operating Margin and Gross Margin are not available for FHN so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 24.1%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-9.62%
PM growth 5Y-0.16%
GM growth 3YN/A
GM growth 5YN/A
FHN Yearly Profit, Operating, Gross MarginsFHN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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1

2. Health

2.1 Basic Checks

FHN does not have a ROIC to compare to the WACC, probably because it is not profitable.
FHN has less shares outstanding than it did 1 year ago.
The number of shares outstanding for FHN has been increased compared to 5 years ago.
The debt/assets ratio for FHN is higher compared to a year ago.
FHN Yearly Shares OutstandingFHN Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M
FHN Yearly Total Debt VS Total AssetsFHN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B

2.2 Solvency

The Debt to FCF ratio of FHN is 7.45, which is on the high side as it means it would take FHN, 7.45 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 7.45, FHN is doing worse than 75.44% of the companies in the same industry.
FHN has a Debt/Equity ratio of 0.63. This is a neutral value indicating FHN is somewhat dependend on debt financing.
FHN has a worse Debt to Equity ratio (0.63) than 80.25% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.63
Debt/FCF 7.45
Altman-Z N/A
ROIC/WACCN/A
WACC17.05%
FHN Yearly LT Debt VS Equity VS FCFFHN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
FHN Yearly Current Assets VS Current LiabilitesFHN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 22.56% over the past year.
The Earnings Per Share has been decreasing by -1.35% on average over the past years.
FHN shows a decrease in Revenue. In the last year, the revenue decreased by -7.12%.
FHN shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 11.34% yearly.
EPS 1Y (TTM)22.56%
EPS 3Y-9%
EPS 5Y-1.35%
EPS Q2Q%20%
Revenue 1Y (TTM)-7.12%
Revenue growth 3Y1.29%
Revenue growth 5Y11.34%
Sales Q2Q%-0.85%

3.2 Future

FHN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.98% yearly.
The Revenue is expected to grow by 3.14% on average over the next years.
EPS Next Y9.81%
EPS Next 2Y9.7%
EPS Next 3Y9.98%
EPS Next 5YN/A
Revenue Next Year1.81%
Revenue Next 2Y2.85%
Revenue Next 3Y3.14%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
FHN Yearly Revenue VS EstimatesFHN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1B 2B 3B
FHN Yearly EPS VS EstimatesFHN Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2

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4

4. Valuation

4.1 Price/Earnings Ratio

FHN is valuated correctly with a Price/Earnings ratio of 13.50.
The rest of the industry has a similar Price/Earnings ratio as FHN.
FHN is valuated cheaply when we compare the Price/Earnings ratio to 27.45, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 11.72, which indicates a very decent valuation of FHN.
Compared to the rest of the industry, the Price/Forward Earnings ratio of FHN indicates a slightly more expensive valuation: FHN is more expensive than 63.29% of the companies listed in the same industry.
FHN's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.90.
Industry RankSector Rank
PE 13.5
Fwd PE 11.72
FHN Price Earnings VS Forward Price EarningsFHN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

FHN's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 15.17
EV/EBITDA N/A
FHN Per share dataFHN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.38
PEG (5Y)N/A
EPS Next 2Y9.7%
EPS Next 3Y9.98%

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6

5. Dividend

5.1 Amount

FHN has a Yearly Dividend Yield of 2.87%. Purely for dividend investing, there may be better candidates out there.
FHN's Dividend Yield is comparable with the industry average which is at 3.47.
FHN's Dividend Yield is comparable with the S&P500 average which is at 2.42.
Industry RankSector Rank
Dividend Yield 2.87%

5.2 History

The dividend of FHN has a limited annual growth rate of 3.44%.
FHN has been paying a dividend for at least 10 years, so it has a reliable track record.
FHN has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)3.44%
Div Incr Years0
Div Non Decr Years13
FHN Yearly Dividends per shareFHN Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

FHN pays out 46.41% of its income as dividend. This is a bit on the high side, but may be sustainable.
FHN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP46.41%
EPS Next 2Y9.7%
EPS Next 3Y9.98%
FHN Yearly Income VS Free CF VS DividendFHN Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B
FHN Dividend Payout.FHN Dividend Payout, showing the Payout Ratio.FHN Dividend Payout.PayoutRetained Earnings

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FIRST HORIZON CORP

NYSE:FHN (7/3/2025, 7:23:42 PM)

After market: 21.9 -0.11 (-0.5%)

22.01

+0.25 (+1.15%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)04-16 2025-04-16/bmo
Earnings (Next)07-16 2025-07-16/bmo
Inst Owners87.11%
Inst Owner Change-1.4%
Ins Owners0.92%
Ins Owner Change-2.3%
Market Cap11.16B
Analysts80
Price Target22.81 (3.63%)
Short Float %2.93%
Short Ratio2.94
Dividend
Industry RankSector Rank
Dividend Yield 2.87%
Yearly Dividend0.67
Dividend Growth(5Y)3.44%
DP46.41%
Div Incr Years0
Div Non Decr Years13
Ex-Date06-13 2025-06-13 (0.15)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6.74%
Min EPS beat(2)4.65%
Max EPS beat(2)8.83%
EPS beat(4)3
Avg EPS beat(4)5.18%
Min EPS beat(4)-2.8%
Max EPS beat(4)10.03%
EPS beat(8)6
Avg EPS beat(8)4.22%
EPS beat(12)8
Avg EPS beat(12)2.4%
EPS beat(16)12
Avg EPS beat(16)7.33%
Revenue beat(2)0
Avg Revenue beat(2)-11.43%
Min Revenue beat(2)-20.5%
Max Revenue beat(2)-2.37%
Revenue beat(4)0
Avg Revenue beat(4)-6.27%
Min Revenue beat(4)-20.5%
Max Revenue beat(4)-0.37%
Revenue beat(8)3
Avg Revenue beat(8)-2.92%
Revenue beat(12)6
Avg Revenue beat(12)-1.46%
Revenue beat(16)8
Avg Revenue beat(16)-1.16%
PT rev (1m)1.49%
PT rev (3m)-3.5%
EPS NQ rev (1m)0.04%
EPS NQ rev (3m)0.57%
EPS NY rev (1m)-0.2%
EPS NY rev (3m)-0.03%
Revenue NQ rev (1m)0.06%
Revenue NQ rev (3m)-0.63%
Revenue NY rev (1m)-0.24%
Revenue NY rev (3m)-1.11%
Valuation
Industry RankSector Rank
PE 13.5
Fwd PE 11.72
P/S 3.51
P/FCF 15.17
P/OCF 14.33
P/B 1.28
P/tB 1.58
EV/EBITDA N/A
EPS(TTM)1.63
EY7.41%
EPS(NY)1.88
Fwd EY8.53%
FCF(TTM)1.45
FCFY6.59%
OCF(TTM)1.54
OCFY6.98%
SpS6.27
BVpS17.25
TBVpS13.97
PEG (NY)1.38
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.94%
ROE 8.77%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 24.1%
GM N/A
FCFM 23.13%
ROA(3y)1.02%
ROA(5y)1.02%
ROE(3y)9.5%
ROE(5y)10.1%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-9.62%
PM growth 5Y-0.16%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.63
Debt/FCF 7.45
Debt/EBITDA N/A
Cap/Depr 43.88%
Cap/Sales 1.35%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 95.96%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score5
WACC17.05%
ROIC/WACCN/A
Cap/Depr(3y)35.39%
Cap/Depr(5y)42.9%
Cap/Sales(3y)1.11%
Cap/Sales(5y)1.38%
Profit Quality(3y)190.82%
Profit Quality(5y)131.57%
High Growth Momentum
Growth
EPS 1Y (TTM)22.56%
EPS 3Y-9%
EPS 5Y-1.35%
EPS Q2Q%20%
EPS Next Y9.81%
EPS Next 2Y9.7%
EPS Next 3Y9.98%
EPS Next 5YN/A
Revenue 1Y (TTM)-7.12%
Revenue growth 3Y1.29%
Revenue growth 5Y11.34%
Sales Q2Q%-0.85%
Revenue Next Year1.81%
Revenue Next 2Y2.85%
Revenue Next 3Y3.14%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-51.74%
FCF growth 3Y21.17%
FCF growth 5Y9.4%
OCF growth 1Y-49.68%
OCF growth 3Y19.61%
OCF growth 5Y8.84%