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FIRST HORIZON CORP (FHN) Stock Fundamental Analysis

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

21.41  -0.15 (-0.7%)

After market: 21.42 +0.01 (+0.05%)

Fundamental Rating

3

FHN gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 405 industry peers in the Banks industry. FHN has a bad profitability rating. Also its financial health evaluation is rather negative. FHN is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year FHN was profitable.
FHN had a positive operating cash flow in the past year.
FHN had positive earnings in each of the past 5 years.
FHN had a positive operating cash flow in 4 of the past 5 years.
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 of 0.92%. This is in the better half of the industry: FHN outperforms 62.81% of its industry peers.
FHN's Return On Equity of 8.39% is in line compared to the rest of the industry. FHN outperforms 53.77% of its industry peers.
Industry RankSector Rank
ROA 0.92%
ROE 8.39%
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

With a Profit Margin value of 23.22%, FHN perfoms like the industry average, outperforming 55.78% of the companies in the same industry.
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) 23.22%
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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2

2. Health

2.1 Basic Checks

FHN does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, FHN has less shares outstanding
FHN has more shares outstanding than it did 5 years ago.
FHN has a worse debt/assets ratio than last year.
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

FHN has a debt to FCF ratio of 2.70. This is a good value and a sign of high solvency as FHN would need 2.70 years to pay back of all of its debts.
The Debt to FCF ratio of FHN (2.70) is comparable to the rest of the industry.
FHN has a Debt/Equity ratio of 0.42. This is a healthy value indicating a solid balance between debt and equity.
FHN has a Debt to Equity ratio of 0.42. This is in the lower half of the industry: FHN underperforms 74.12% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.42
Debt/FCF 2.7
Altman-Z N/A
ROIC/WACCN/A
WACC14.37%
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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4

3. Growth

3.1 Past

FHN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 9.09%, which is quite good.
Measured over the past years, FHN shows a decrease in Earnings Per Share. The EPS has been decreasing by -1.35% on average per year.
FHN shows a decrease in Revenue. In the last year, the revenue decreased by -7.96%.
Measured over the past years, FHN shows a quite strong growth in Revenue. The Revenue has been growing by 11.34% on average per year.
EPS 1Y (TTM)9.09%
EPS 3Y-9%
EPS 5Y-1.35%
EPS Q2Q%34.37%
Revenue 1Y (TTM)-7.96%
Revenue growth 3Y1.29%
Revenue growth 5Y11.34%
Sales Q2Q%-8.87%

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 8.76% yearly.
The Revenue is expected to grow by 3.94% on average over the next years.
EPS Next Y2.12%
EPS Next 2Y8.76%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year2.62%
Revenue Next 2Y3.84%
Revenue Next 3Y3.94%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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

A Price/Earnings ratio of 13.72 indicates a correct valuation of FHN.
Compared to the rest of the industry, the Price/Earnings ratio of FHN is on the same level as its industry peers.
FHN's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.29.
Based on the Price/Forward Earnings ratio of 13.44, the valuation of FHN can be described as correct.
Based on the Price/Forward Earnings ratio, FHN is valued a bit more expensive than the industry average as 61.06% of the companies are valued more cheaply.
FHN is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 24.44, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 13.72
Fwd PE 13.44
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

Based on the Price/Free Cash Flow ratio, FHN is valued cheaply inside the industry as 80.65% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 8.1
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 high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)6.48
PEG (5Y)N/A
EPS Next 2Y8.76%
EPS Next 3YN/A

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.78%, FHN has a reasonable but not impressive dividend return.
FHN's Dividend Yield is comparable with the industry average which is at 3.22.
Compared to an average S&P500 Dividend Yield of 2.28, FHN pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.78%

5.2 History

The dividend of FHN is nicely growing with an annual growth rate of 8.34%!
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)8.34%
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 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

48.61% of the earnings are spent on dividend by FHN. This is a bit on the high side, but may be sustainable.
FHN's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP48.61%
EPS Next 2Y8.76%
EPS Next 3YN/A
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 (1/21/2025, 8:04:00 PM)

After market: 21.42 +0.01 (+0.05%)

21.41

-0.15 (-0.7%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-16 2025-01-16/bmo
Earnings (Next)N/A N/A
Inst Owners83.32%
Inst Owner Change-0.05%
Ins Owners0.84%
Ins Owner Change-2.14%
Market Cap11.35B
Analysts76
Price Target21.73 (1.49%)
Short Float %2.23%
Short Ratio1.92
Dividend
Industry RankSector Rank
Dividend Yield 2.78%
Yearly Dividend0.67
Dividend Growth(5Y)8.34%
DP48.61%
Div Incr Years0
Div Non Decr Years13
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)3.62%
Min EPS beat(2)-2.8%
Max EPS beat(2)10.03%
EPS beat(4)3
Avg EPS beat(4)3.95%
Min EPS beat(4)-2.8%
Max EPS beat(4)10.03%
EPS beat(8)5
Avg EPS beat(8)2.54%
EPS beat(12)8
Avg EPS beat(12)4.15%
EPS beat(16)12
Avg EPS beat(16)11.03%
Revenue beat(2)0
Avg Revenue beat(2)-1.1%
Min Revenue beat(2)-1.84%
Max Revenue beat(2)-0.37%
Revenue beat(4)2
Avg Revenue beat(4)-0.38%
Min Revenue beat(4)-1.84%
Max Revenue beat(4)0.52%
Revenue beat(8)4
Avg Revenue beat(8)-0.13%
Revenue beat(12)7
Avg Revenue beat(12)0.45%
Revenue beat(16)10
Avg Revenue beat(16)0.73%
PT rev (1m)5.45%
PT rev (3m)17.9%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-5.99%
EPS NY rev (1m)0%
EPS NY rev (3m)2.93%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3.76%
Revenue NY rev (1m)0.03%
Revenue NY rev (3m)0.03%
Valuation
Industry RankSector Rank
PE 13.72
Fwd PE 13.44
P/S 3.48
P/FCF 8.1
P/OCF 7.87
P/B 1.26
P/tB 1.55
EV/EBITDA N/A
EPS(TTM)1.56
EY7.29%
EPS(NY)1.59
Fwd EY7.44%
FCF(TTM)2.64
FCFY12.34%
OCF(TTM)2.72
OCFY12.7%
SpS6.15
BVpS17.02
TBVpS13.84
PEG (NY)6.48
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.92%
ROE 8.39%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 23.22%
GM N/A
FCFM 42.98%
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-Score4
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.42
Debt/FCF 2.7
Debt/EBITDA N/A
Cap/Depr 41.41%
Cap/Sales 1.26%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 185.07%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score4
WACC14.37%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)9.09%
EPS 3Y-9%
EPS 5Y-1.35%
EPS Q2Q%34.37%
EPS Next Y2.12%
EPS Next 2Y8.76%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-7.96%
Revenue growth 3Y1.29%
Revenue growth 5Y11.34%
Sales Q2Q%-8.87%
Revenue Next Year2.62%
Revenue Next 2Y3.84%
Revenue Next 3Y3.94%
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 1Y50.65%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y50.37%
OCF growth 3YN/A
OCF growth 5YN/A