First Horizon (FHN) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

First Horizon

NYSE•Financial Services•Banks - Regional

$24.67-0.27(-0.01%)Pre-market

Market Cap

$11.36B

P/E

10.8x

P/S

3.2x

P/B

1.2x

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. It operates through Regional Banking, Specialty Banking, and Corporate segments. The company offers commercial banking, business banking, consumer banking, private client investment, wealth management, financial planning, trust and asset management services, asset-based lending, commercial real estate, equipment finance/leasing, energy finance, international banking, healthcare finance, transportation and logistics finance, treasury management solutions, and loan syndications services. It also provides fixed income securities sales, trading, underwriting, and strategies for institutional clients; loan sales; portfolio advisory services; derivative sales; mortgage warehouse lending; franchise finance; corporate and correspondent banking; and mortgage origination services. Further, it provides transaction processing services, credit card products, and sale of mutual funds. First Horizon Corporation was formerly known as First Horizon National Corporation and changed its name to First Horizon Corporation in April 2004. The company was founded in 1864 and is headquartered in Memphis, Tennessee.

How this company scores

WeakMetricSide Score: 72/100

Grade capped at D — Interest coverage below 1× (1.0x) — earnings cannot cover interest. Strongest: Cash & Earnings Quality (22/25); weakest: Growth (14/25).

Profitability20/25

Growth14/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality22/25

Strengths

Strong marginsRising earningsLow leverageCash-backed earnings

Grade capped at D

Interest coverage below 1× (1.0x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 10.8x5y range 5.5x – 14.6x

Currently near its 20-quarter median.

P/S · 3.2x5y range 2.5x – 5.7x

Currently near its 20-quarter median.

P/B · 1.2x5y range 0.7x – 1.6x

Price & Volume

Market Cap $11.36B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $3.53B
Q. Revenue: $887.00M
TTM EBITDA: $1.43B
TTM Op. Income: $1.37B
Q. Op. Income: $340.00M
TTM Net Income: $1.05B
Q. Net Income: $270.00M
EPS: $0.55
Shares Out.: $474.84M

$3.53B in TTM revenue declined 17.0% YoY, reaching $887.00M last quarter. TTM EBITDA of $1.43B and TTM operating income of $1.37B show growth is flowing through to the bottom line. TTM net income of $1.05B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 60.1%
EBITDA Margin: 40.6%
Op. Margin: 38.3%
Net Margin: 30.4%

Op. margin of 38.3% is up 1.1% YoY — cost efficiency is improving. Net margin at 30.4% and gross margin of 60.1% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 3% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 10.8x
P/S Ratio: 3.2x
P/B Ratio: 1.2x

At 10.8x P/E, the stock trades below typical market levels. P/S of 3.2x and P/B of 1.2x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 16% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $84.44B
Cash: $1.63B
Long-Term Debt: $1.32B
Book Value: $9.17B
D/E Ratio: 0.1
Debt/EBITDA: 3.7

With $84.44B in assets and $1.32B in long-term debt, D/E is 0.1and book value is $9.17B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 4% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $585.00M
TTM Free Cash Flow: $1.02B
FCF Margin: 28.8%
FCF / Net Income: 1.0

TTM FCF of $1.02B on $585.00M in operating cash flow. The FCF / Net Income ratio of 1.0x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 7% — an improving trend.