(FHN) First Horizon National - Overview
Sector: Financial Services | Industry: Banks - Regional | Exchange: NYSE (USA) | Market Cap: 11.196m USD | Total Return: 26.1% in 12m
Avg Turnover: 83.1M
EPS Trend: 57.8%
Qual. Beats: 4
Rev. Trend: 44.0%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
First Horizon Corporation (NYSE: FHN) is a Memphis-based financial services holding company operating primarily through its Regional Banking, Specialty Banking, and Corporate segments. Established in 1864, the firm provides a comprehensive suite of services including commercial and consumer banking, wealth management, asset-based lending, and specialized financing for sectors such as energy, healthcare, and logistics. Its capital markets division offers institutional clients fixed income trading, underwriting, and portfolio advisory services.
As a regional bank, First Horizons business model relies heavily on the net interest margin-the difference between interest earned on loans and interest paid on deposits. The regional banking sector is currently navigating a landscape of heightened regulatory scrutiny and competition for low-cost deposits following recent industry volatility. Investors can utilize tools on ValueRay to further analyze the companys valuation metrics and risk profile.
- Net interest margin sensitivity to Federal Reserve monetary policy shifts
- Regional economic growth across the Southeast United States footprint
- Non-interest income volatility from fixed income trading and mortgage services
- Commercial real estate loan concentration and asset quality performance metrics
- Post-merger termination capital deployment and potential share repurchase programs
| Net Income: 1.03b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 0.16 > 1.0 |
| NWC/Revenue: -55.09% < 20% (prev -1.23k%; Δ 1.18k% < -1%) |
| CFO/TA 0.01 > 3% & CFO 899.0m > Net Income 1.03b |
| Net Debt (9.46b) to EBITDA (1.40b): 6.78 < 3 |
| Current Ratio: 0.96 > 1.5 & < 3 |
| Outstanding Shares: last quarter (487.0m) vs 12m ago -6.88% < -2% |
| Gross Margin: 64.61% > 18% (prev 0.61%; Δ 6.40k% > 0.5%) |
| Asset Turnover: 5.56% > 50% (prev 5.97%; Δ -0.41% > 0%) |
| Interest Coverage Ratio: 0.89 > 6 (EBITDA TTM 1.40b / Interest Expense TTM 1.52b) |
| A: -0.03 (Total Current Assets 68.8b - Total Current Liabilities 71.3b) / Total Assets 84.1b |
| B: 0.06 (Retained Earnings 5.21b / Total Assets 84.1b) |
| C: 0.02 (EBIT TTM 1.35b / Avg Total Assets 82.8b) |
| D: 0.06 (Book Value of Equity 4.67b / Total Liabilities 74.7b) |
| Altman-Z'' = 0.18 = B |
As of May 24, 2026, the stock is trading at USD 24.10 with a total of 2,750,419 shares traded.
Over the past week, the price has changed by +2.80%,
over one month by -1.42%,
over three months by +1.32% and
over the past year by +26.13%.
First Horizon National has received a consensus analysts rating of 4.06. Therefore, it is recommended to buy FHN.
- StrongBuy: 7
- Buy: 3
- Hold: 6
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 26.8 | 11.4% |
P/E Forward = 10.9769
P/S = 3.3537
P/B = 1.3283
P/EG = 1.7557
Revenue TTM = 4.60b USD
EBIT TTM = 1.35b USD
EBITDA TTM = 1.40b USD
Long Term Debt = 1.32b USD (from longTermDebt, last quarter)
Short Term Debt = 12.0b USD (from shortTermDebt, last quarter)
Debt = 13.3b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 9.46b USD (calculated: Debt 13.3b - CCE 3.82b)
Enterprise Value = 20.7b USD (11.2b + Debt 13.3b - CCE 3.82b)
Interest Coverage Ratio = 0.89 (Ebit TTM 1.35b / Interest Expense TTM 1.52b)
EV/FCF = 23.13x (Enterprise Value 20.7b / FCF TTM 893.0m)
FCF Yield = 4.32% (FCF TTM 893.0m / Enterprise Value 20.7b)
FCF Margin = 19.40% (FCF TTM 893.0m / Revenue TTM 4.60b)
Net Margin = 22.31% (Net Income TTM 1.03b / Revenue TTM 4.60b)
Gross Margin = 64.61% ((Revenue TTM 4.60b - Cost of Revenue TTM 1.63b) / Revenue TTM)
Gross Margin QoQ = none% (prev 70.31%)
Tobins Q-Ratio = 0.25 (Enterprise Value 20.7b / Total Assets 84.1b)
Interest Expense / Debt = 11.43% (Interest Expense 1.52b / Debt 13.3b)
Taxrate = 22.22% (76.0m / 342.0m)
NOPAT = 1.05b (EBIT 1.35b * (1 - 22.22%))
Current Ratio = 0.96 (Total Current Assets 68.8b / Total Current Liabilities 71.3b)
Debt / Equity = 1.45 (Debt 13.3b / totalStockholderEquity, last quarter 9.17b)
Debt / EBITDA = 6.78 (Net Debt 9.46b / EBITDA 1.40b)
Debt / FCF = 10.59 (Net Debt 9.46b / FCF TTM 893.0m)
Total Stockholder Equity = 8.98b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.24% (Net Income 1.03b / Total Assets 84.1b)
RoE = 11.43% (Net Income TTM 1.03b / Total Stockholder Equity 8.98b)
RoCE = 13.14% (EBIT 1.35b / Capital Employed (Equity 8.98b + L.T.Debt 1.32b))
RoIC = 4.25% (NOPAT 1.05b / Invested Capital 24.8b)
WACC = 9.58% (E(11.2b)/V(24.5b) * Re(10.40%) + D(13.3b)/V(24.5b) * Rd(11.43%) * (1-Tc(0.22)))
Discount Rate = 10.40% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -100.00 | Cagr: -6.09%
[DCF] Terminal Value 74.09% ; FCFF base≈830.2m ; Y1≈951.7m ; Y5≈1.40b
[DCF] Fair Price = 16.55 (EV 17.3b - Net Debt 9.46b = Equity 7.86b / Shares 474.6m; r=9.58% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 57.78 | EPS CAGR: 9.36% | SUE: 1.24 | # QB: 4
Revenue Correlation: 43.97 | Revenue CAGR: 2.65% | SUE: -0.01 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.53 | Chg30d=+0.38% | Revisions=+12% | Analysts=16
EPS next Quarter (2026-09-30): EPS=0.55 | Chg30d=-0.91% | Revisions=-29% | Analysts=16
EPS current Year (2026-12-31): EPS=2.15 | Chg30d=+0.93% | Revisions=+37% | GrowthEPS=+13.8% | GrowthRev=+3.8%
EPS next Year (2027-12-31): EPS=2.35 | Chg30d=+0.39% | Revisions=-12% | GrowthEPS=+9.3% | GrowthRev=+4.0%
[Analyst] Revisions Ratio: +37%