FHN (First Horizon Corporation) Stock Financials & Earnings | Market Cap Arena

FHN (First Horizon Corporation) Stock Financials & Earnings | Market Cap Arena

FHNFirst Horizon Corporation

Mkt Cap$11B

Financial Services·Banks - Regional·🇺🇸 United States·NYSE

Revenue (TTM)$4.9B

Net Income (TTM)$982M

EPS (TTM)$1.88

Free Cash Flow (TTM)$963M

Gross Margin66.8%

Op. Margin26.1%

Net Margin20.0%

FCF Margin19.6%

P/S Ratio (TTM)2.3x

P/E Ratio (TTM)11.5x

YoY Rev Growth-0.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$1.1B	$787M	$331M
Q2 23	$1.2B	$733M	$425M
Q3 23	$1.2B	$647M	$194M
Q4 23	$1.2B	$727M	$178M
Q1 24	$1.2B	$748M	$254M
Q2 24	$1.3B	$737M	$260M
Q3 24	$1.3B	$767M	$281M
Q4 24	$1.1B	$693M	$210M
Q1 25	$1.2B	$749M	$285M
Q2 25	$1.2B	$777M	$309M
Q3 25	$1.3B	$870M	$344M
Q4 25	$1.3B	$888M	$343M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	3.0x	11.8x
Q2 23	2.7x	10.2x
Q3 23	2.5x	11.5x
Q4 23	2.4x	12.6x
Q1 24	2.3x	13.5x
Q2 24	2.3x	15.8x
Q3 24	2.2x	14.2x
Q4 24	2.3x	14.5x
Q1 25	2.3x	14.1x
Q2 25	2.3x	13.4x
Q3 25	2.4x	12.7x
Q4 25	2.3x	11.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$69M	-$74M
Q2 23	$305M	$296M
Q3 23	$698M	$689M
Q4 23	$365M	$351M
Q1 24	$838M	$828M
Q2 24	-$150M	-$161M
Q3 24	$389M	$383M
Q4 24	$191M	$174M
Q1 25	$349M	$340M
Q2 25	$83M	$74M
Q3 25	-$200M	-$182M
Q4 25	$738M	$731M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$5M
Q2 23	$9M
Q3 23	$9M
Q4 23	$14M
Q1 24	$10M
Q2 24	$11M
Q3 24	$6M
Q4 24	$17M
Q1 25	$9M
Q2 25	$9M
Q3 25	$18M
Q4 25	$7M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+48.7%	+59.1%
Q2 23	+53.5%	+38.6%
Q3 23	+33.3%	+79.6%
Q4 23	+23.7%	+58.7%
Q1 24	+16.6%	+34.4%
Q2 24	+7.5%	+34.1%
Q3 24	+5.0%	-2.4%
Q4 24	-8.4%	-12.8%
Q1 25	-5.9%	-10.6%
Q2 25	-3.7%	-9.5%
Q3 25	-2.0%	-8.8%
Q4 25	+10.7%	-1.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$22M	2.1%
Q2 23	-$14M	-1.2%
Q3 23	$13M	1.1%
Q4 23	$15M	1.2%
Q1 24	$18M	1.4%
Q2 24	$13M	1.0%
Q3 24	$13M	1.0%
Q4 24	$15M	1.3%
Q1 25	$18M	1.5%
Q2 25	$15M	1.2%
Q3 25	$15M	1.2%
Q4 25	$13M	1.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$295M	$14M
Q2 23	$310M	$17M
Q3 23	$292M	$16M
Q4 23	$374M	$24M
Q1 24	$338M	$8M
Q2 24	$309M	$14M
Q3 24	$305M	$14M
Q4 24	$299M	$11M
Q1 25	$300M	$10M
Q2 25	$302M	$14M
Q3 25	$318M	$12M
Q4 25	$386M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$3.5B	$9.0B	$12.4B
Q2 23	$5.7B	$8.6B	$14.3B
Q3 23	$2.9B	$8.1B	$11.0B
Q4 23	$2.3B	$8.4B	$10.7B
Q1 24	$2.6B	$8.1B	$10.8B
Q2 24	$2.4B	$7.9B	$10.3B
Q3 24	$2.3B	$8.2B	$10.6B
Q4 24	$2.4B	$6.5B	$8.9B
Q1 25	$2.1B	$6.7B	$8.8B
Q2 25	$1.9B	$9.4B	$11.3B
Q3 25	$912M	$9.3B	$10.2B
Q4 25	$961M	$3.7B	$4.6B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	572M	-0.0%
Q2 23	561M	-1.9%
Q3 23	561M	+0.1%
Q4 23	561M	-0.1%
Q1 24	558M	-0.6%
Q2 24	547M	-1.9%
Q3 24	538M	-1.7%
Q4 24	534M	-0.7%
Q1 25	523M	-2.1%
Q2 25	514M	-1.7%
Q3 25	510M	-0.8%
Q4 25	496M	-2.7%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$285K	4K
FY 15	$282K	4K
FY 16	$310K	4K
FY 17	$242K	6K
FY 18	$397K	6K
FY 19	$445K	5K
FY 20	$418K	7K
FY 21	$421K	8K
FY 22	$452K	8K
FY 23	$639K	7K
FY 24	$681K	7K
FY 25	$673K	7K