First Horizon Corporation Financials

FHN

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 35/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

First Horizon Corporation's revenue declined 8% year-over-year, from $3.5B to $3.2B. This contraction results in a growth score of 6/100.

Leverage

First Horizon Corporation has elevated debt relative to equity (D/E of 8.29), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Cash Flow

100

First Horizon Corporation converts 38.4% of revenue into free cash flow ($1.2B). This strong cash generation earns a score of 100/100.

Returns

First Horizon Corporation's ROE of 8.8% shows moderate profitability relative to equity, earning a score of 35/100. This is down from 10.0% the prior year.

Piotroski F-Score Neutral

4/9

First Horizon Corporation passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.64x

For every $1 of reported earnings, First Horizon Corporation generates $1.64 in operating cash flow ($1.3B OCF vs $775.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows First Horizon Corporation (FHN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$3.2B

YoY-8.0%

5Y CAGR+11.9%

10Y CAGR+10.7%

First Horizon Corporation generated $3.2B in revenue in fiscal year 2024. This represents a decrease of 8.0% from the prior year.

EBITDA

N/A

Free Cash Flow

$1.2B

YoY-3.0%

5Y CAGR+9.4%

10Y CAGR+6.3%

First Horizon Corporation generated $1.2B in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 3.0% from the prior year.

Net Income

$775.0M

YoY-13.6%

5Y CAGR+11.9%

10Y CAGR+13.3%

First Horizon Corporation reported $775.0M in net income in fiscal year 2024. This represents a decrease of 13.6% from the prior year.

EPS (Diluted)

$1.36

YoY-11.7%

5Y CAGR-0.3%

10Y CAGR+4.1%

First Horizon Corporation earned $1.36 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 11.7% from the prior year.

Cash & Debt

$1.5B

YoY-11.2%

5Y CAGR+3.9%

First Horizon Corporation held $1.5B in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.60

YoY+0.0%

5Y CAGR+1.4%

10Y CAGR+11.6%

First Horizon Corporation paid $0.60 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

522M

YoY-6.6%

5Y CAGR+10.9%

10Y CAGR+8.3%

First Horizon Corporation had 522M shares outstanding in fiscal year 2024. This represents a decrease of 6.6% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

24.3%

YoY-1.6pp

5Y CAGR+0.0pp

10Y CAGR+5.0pp

First Horizon Corporation's net profit margin was 24.3% in fiscal year 2024, showing the share of revenue converted to profit. This is down 1.6 percentage points from the prior year.

Return on Equity

8.8%

YoY-1.2pp

5Y CAGR-0.4pp

10Y CAGR-0.9pp

First Horizon Corporation's ROE was 8.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.2 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$626.0M

YoY+6160.0%

5Y CAGR+36.1%

10Y CAGR+30.5%

First Horizon Corporation spent $626.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 6160.0% from the prior year.

Capital Expenditures

$44.0M

YoY+18.9%

5Y CAGR-2.1%

10Y CAGR+1.2%

First Horizon Corporation invested $44.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 18.9% from the prior year.

FHN Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$3.2B-8.0%	$3.5B+8.1%	$3.2B	N/A	N/A	$1.8B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$1.8B+18.0%	$1.6B+436.1%	$291.0M+77.4%	$164.0M-30.5%	$236.0M-43.0%	$414.0M
Income Tax	$211.0M-0.5%	$212.0M-14.2%	$247.0M-9.9%	$274.0M+260.5%	$76.0M-43.3%	$134.0M
Net Income	$775.0M-13.6%	$897.0M-0.3%	$900.0M-9.9%	$999.0M+18.2%	$845.0M+91.6%	$441.0M
EPS (Diluted)	$1.36-11.7%	$1.54+0.7%	$1.53-12.1%	$1.74-7.9%	$1.89+37.0%	$1.38

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$889.0M+7.1%	$830.0M+2.2%	$812.0M+11.4%	$729.0M-10.6%	$815.0M-0.5%	$819.0M	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$403.0M0.0%	$403.0M+5.2%	$383.0M-12.4%	$437.0M-5.8%	$464.0M+3.6%	$448.0M	N/A	$475.0M
Income Tax	$78.0M+21.9%	$64.0M+1.6%	$63.0M+57.5%	$40.0M-28.6%	$56.0M-1.8%	$57.0M	N/A	$52.0M
Net Income	$262.0M+8.7%	$241.0M+10.6%	$218.0M+31.3%	$166.0M-16.6%	$199.0M+3.6%	$192.0M	N/A	$137.0M
EPS (Diluted)	$0.50+11.1%	$0.45+9.8%	$0.41+41.4%	$0.29-14.7%	$0.34+3.0%	$0.33	N/A	$0.23

FHN Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$82.2B+0.6%	$81.7B+3.4%	$79.0B-11.4%	$89.1B+5.8%	$84.2B+94.4%	$43.3B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.5B-11.2%	$1.7B+12.2%	$1.5B-13.7%	$1.8B+8.5%	$1.6B+30.1%	$1.3B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.5B0.0%	$1.5B-0.1%	$1.5B0.0%	$1.5B0.0%	$1.5B+5.4%	$1.4B
Total Liabilities	$73.0B+0.9%	$72.4B+2.8%	$70.4B-12.6%	$80.6B+6.2%	$75.9B+98.5%	$38.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$8.8B-2.0%	$9.0B+9.0%	$8.3B+0.6%	$8.2B+2.3%	$8.0B+67.6%	$4.8B
Retained Earnings	$4.4B+10.5%	$4.0B+15.6%	$3.4B+18.6%	$2.9B+27.9%	$2.3B+25.8%	$1.8B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$83.2B+1.3%	$82.1B+0.7%	$81.5B-0.8%	$82.2B-0.1%	$82.2B+0.5%	$81.8B+0.2%	$81.7B-1.1%	$82.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.7B+11.3%	$1.5B-7.8%	$1.6B+6.9%	$1.5B+5.6%	$1.5B-7.0%	$1.6B-9.5%	$1.7B+20.4%	$1.4B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.5B0.0%	$1.5B0.0%	$1.5B0.0%	$1.5B0.0%	$1.5B0.0%	$1.5B0.0%	$1.5B-0.1%	$1.5B
Total Liabilities	$73.9B+1.5%	$72.8B+0.5%	$72.4B-0.8%	$73.0B-0.3%	$73.3B+0.9%	$72.6B+0.4%	$72.4B-1.9%	$73.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$8.9B-0.1%	$9.0B+2.4%	$8.7B-0.8%	$8.8B+1.8%	$8.7B-2.5%	$8.9B-1.3%	$9.0B+5.9%	$8.5B
Retained Earnings	$4.8B+3.8%	$4.7B+3.4%	$4.5B+3.1%	$4.4B+5.0%	$4.2B+2.5%	$4.1B+2.7%	$4.0B+2.3%	$3.9B

FHN Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$1.3B-2.4%	$1.3B-43.3%	$2.3B+216.0%	$725.0M+321.5%	$172.0M-79.3%	$830.0M
Capital Expenditures	$44.0M+18.9%	$37.0M+32.1%	$28.0M-24.3%	$37.0M-90.2%	$379.0M+673.5%	$49.0M
Free Cash Flow	$1.2B-3.0%	$1.3B-44.2%	$2.3B+228.9%	$688.0M+432.4%	-$207.0M-126.5%	$781.0M
Investing Cash Flow	-$1.1B+59.4%	-$2.6B-131.3%	$8.3B+281.1%	-$4.6B+7.4%	-$5.0B-107.8%	-$2.4B
Financing Cash Flow	-$404.0M-127.0%	$1.5B+113.7%	-$10.9B-370.6%	$4.0B-22.4%	$5.2B+264.0%	$1.4B
Dividends Paid	$332.0M-0.9%	$335.0M+3.4%	$324.0M-2.7%	$333.0M+50.0%	$222.0M+29.8%	$171.0M
Share Buybacks	$626.0M+6160.0%	$10.0M-16.7%	$12.0M-97.1%	$416.0M+10300.0%	$4.0M-97.0%	$134.0M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$200.0M-341.0%	$83.0M-76.2%	$349.0M+82.7%	$191.0M+227.3%	-$150.0M-117.9%	$838.0M+129.6%	$365.0M-47.7%	$698.0M
Capital Expenditures	$8.0M-11.1%	$9.0M0.0%	$9.0M-47.1%	$17.0M+54.5%	$11.0M+10.0%	$10.0M-28.6%	$14.0M	N/A
Free Cash Flow	-$208.0M-381.1%	$74.0M-78.2%	$340.0M+95.4%	$174.0M+208.1%	-$161.0M-119.4%	$828.0M+135.9%	$351.0M	N/A
Investing Cash Flow	-$16.0M+97.9%	-$776.0M-212.0%	$693.0M+370.7%	-$256.0M+37.3%	-$408.0M+53.4%	-$876.0M-171.3%	$1.2B-46.0%	$2.3B
Financing Cash Flow	$387.0M-31.5%	$565.0M+160.4%	-$936.0M-115.7%	-$434.0M-196.9%	$448.0M+452.8%	-$127.0M+90.2%	-$1.3B+56.0%	-$3.0B
Dividends Paid	$76.0M-7.3%	$82.0M+2.5%	$80.0M0.0%	$80.0M-7.0%	$86.0M+1.2%	$85.0M+1.2%	$84.0M0.0%	$84.0M
Share Buybacks	$190.0M+578.6%	$28.0M-92.3%	$365.0M+122.6%	$164.0M-28.1%	$228.0M+43.4%	$159.0M	$0	$0

FHN Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	24.3%-1.6pp	25.9%-2.2pp	28.1%	N/A	N/A	24.3%
Return on Equity	8.8%-1.2pp	10.0%-0.9pp	10.9%-1.3pp	12.2%+1.6pp	10.5%+1.3pp	9.2%
Return on Assets	0.9%-0.2pp	1.1%-0.0pp	1.1%+0.0pp	1.1%+0.1pp	1.0%-0.0pp	1.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	8.29+0.2	8.04-0.5	8.53-1.3	9.83+0.4	9.47+1.5	8.00
FCF Margin	38.4%+2.0pp	36.4%-34.2pp	70.6%	N/A	N/A	43.0%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	29.5%+0.4pp	29.0%+2.2pp	26.9%+4.1pp	22.8%-1.6pp	24.4%+1.0pp	23.4%	N/A	N/A
Return on Equity	2.9%+0.2pp	2.7%+0.2pp	2.5%+0.6pp	1.9%-0.4pp	2.3%+0.1pp	2.2%	N/A	1.6%
Return on Assets	0.3%+0.0pp	0.3%+0.0pp	0.3%+0.1pp	0.2%-0.0pp	0.2%0.0pp	0.2%	N/A	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	8.26+0.1	8.13-0.2	8.280.0	8.29-0.2	8.46+0.3	8.18+0.1	8.04-0.6	8.68
FCF Margin	-23.4%-32.3pp	8.9%-33.0pp	41.9%+18.0pp	23.9%+43.6pp	-19.8%-120.8pp	101.1%	N/A	N/A

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Frequently Asked Questions

What is First Horizon Corporation's annual revenue?

First Horizon Corporation (FHN) reported $3.2B in total revenue for fiscal year 2024. This represents a -8.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is First Horizon Corporation's revenue growing?

First Horizon Corporation (FHN) revenue declined by 8% year-over-year, from $3.5B to $3.2B in fiscal year 2024.

Is First Horizon Corporation profitable?

Yes, First Horizon Corporation (FHN) reported a net income of $775.0M in fiscal year 2024, with a net profit margin of 24.3%.

What is First Horizon Corporation's earnings per share (EPS)?

First Horizon Corporation (FHN) reported diluted earnings per share of $1.36 for fiscal year 2024. This represents a -11.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is First Horizon Corporation's net profit margin?

First Horizon Corporation (FHN) had a net profit margin of 24.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does First Horizon Corporation pay dividends?

Yes, First Horizon Corporation (FHN) paid $0.60 per share in dividends during fiscal year 2024.

What is First Horizon Corporation's return on equity (ROE)?

First Horizon Corporation (FHN) has a return on equity of 8.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is First Horizon Corporation's free cash flow?

First Horizon Corporation (FHN) generated $1.2B in free cash flow during fiscal year 2024. This represents a -3.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is First Horizon Corporation's operating cash flow?

First Horizon Corporation (FHN) generated $1.3B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are First Horizon Corporation's total assets?

First Horizon Corporation (FHN) had $82.2B in total assets as of fiscal year 2024, including both current and long-term assets.

What are First Horizon Corporation's capital expenditures?

First Horizon Corporation (FHN) invested $44.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does First Horizon Corporation buy back shares?

Yes, First Horizon Corporation (FHN) spent $626.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does First Horizon Corporation have outstanding?

First Horizon Corporation (FHN) had 522M shares outstanding as of fiscal year 2024.

What is First Horizon Corporation's debt-to-equity ratio?

First Horizon Corporation (FHN) had a debt-to-equity ratio of 8.29 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is First Horizon Corporation's return on assets (ROA)?

First Horizon Corporation (FHN) had a return on assets of 0.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is First Horizon Corporation's Piotroski F-Score?

First Horizon Corporation (FHN) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are First Horizon Corporation's earnings high quality?

First Horizon Corporation (FHN) has an earnings quality ratio of 1.64x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is First Horizon Corporation?

First Horizon Corporation (FHN) scores 35 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.