NYSE · Financial Statements

First Horizon Corporation (FHN) Financial Statements

$23.44 NYSE: FHN Market Cap $11.11B

First Horizon Corporation most recently reported annual revenue of $5.0B, net profit of $983.0M. Revenue grew at an average annual rate of 12.2% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

First Horizon Corporation: Revenue rose from $1.3B in 2016 to $5.0B in 2025, a change of +275.4% over 9 years; net profit was positive in all 10 reported years; operating margin was broadly flat at about 25.7%; the most recent year shows net profit of $983.0M.

Income Statement — 10 Years (USD millions)

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	$1.3B	$1.5B	$2.2B	$2.2B	$2.8B	$3.2B	$3.4B	$4.7B	$4.9B	$5.0B
Operating Expenses	$983.0M	$1.1B	$1.5B	$1.6B	$1.9B	$1.9B	$2.3B	$3.6B	$3.9B	$3.7B
Operating Profit	$345.0M	$309.0M	$714.0M	$586.0M	$933.0M	$1.3B	$1.2B	$1.1B	$1.0B	$1.3B
Operating Margin	26.0%	21.3%	32.3%	26.3%	33.3%	40.7%	34.0%	23.9%	20.4%	25.7%
Other Income	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Interest	$89.0M	$148.0M	$326.0M	$414.0M	$236.0M	$164.0M	$291.0M	$1.6B	$1.8B	$1.6B
Depreciation	$65.0M	$71.0M	$59.0M	$66.0M	$62.0M	$45.0M	$85.0M	$102.0M	$101.0M	$56.0M
Profit Before Tax	$345.0M	$309.0M	$714.0M	$586.0M	$933.0M	$1.3B	$1.2B	$1.1B	$1.0B	$1.3B
Tax	$30.9M	$42.7M	$22.0M	$22.9M	$8.2M	$21.3M	$21.3M	$18.8M	$21.0M	$22.0M
Net Profit	$227.0M	$166.0M	$545.0M	$441.0M	$845.0M	$999.0M	$900.0M	$897.0M	$775.0M	$983.0M
EPS	$0.94	$0.65	$1.65	$1.38	$1.89	$1.74	$1.53	$1.54	$1.36	$1.88
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Sep '23	Dec '23	Mar '24	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
Revenue	$1.2B	$1.2B	$1.2B	$1.3B	$1.3B	$1.1B	$1.2B	$1.2B	$1.3B	$1.3B	$862.0M	$1.2B
Operating Expenses	$1.0B	$1.1B	$992.0M	$996.0M	$1.0B	$931.0M	$887.0M	$901.0M	$924.0M	$920.0M	$505.0M	$899.0M
Operating Profit	$194.0M	$178.0M	$254.0M	$260.0M	$281.0M	$210.0M	$285.0M	$309.0M	$344.0M	$343.0M	$357.0M	$341.0M
Operating Margin	15.8%	14.3%	20.4%	20.7%	21.7%	18.4%	24.3%	25.5%	27.1%	27.2%	41.4%	27.5%
Interest	$475.0M	$469.0M	$448.0M	$464.0M	$492.0M	$438.0M	$383.0M	$403.0M	$403.0M	$375.0M	$337.0M	$354.0M
Profit Before Tax	$194.0M	$178.0M	$254.0M	$260.0M	$281.0M	$210.0M	$285.0M	$309.0M	$344.0M	$343.0M	$342.0M	$341.0M
Tax	$26.8M	$-6.2M	$22.4M	$21.5M	$20.6M	$19.1M	$22.1M	$20.7M	$22.7M	$22.7M	$22.2M	$19.4M
Net Profit	$137.0M	$184.0M	$192.0M	$199.0M	$218.0M	$166.0M	$218.0M	$241.0M	$262.0M	$261.0M	$263.0M	$271.0M
EPS	$0.23	$0.31	$0.33	$0.34	$0.40	$0.29	$0.41	$0.45	$0.50	$0.52	$0.53	$0.54

Over the 10 years reported for First Horizon Corporation, borrowings increased from $1.9B in 2016 to $4.6B in 2025, cash stood at $961.0M in the latest year, shareholders' equity was $303.0M, current assets covered current liabilities 0.96 times.

Balance Sheet — 10 Years (USD millions)

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Total Assets	$28.6B	$41.4B	$40.8B	$43.3B	$84.2B	$89.1B	$79.0B	$81.7B	$82.2B	$83.9B
Current Assets	$5.4B	$7.1B	$6.7B	$5.6B	$17.6B	$24.8B	$11.3B	$10.7B	$8.9B	$68.4B
Cash	$1.4B	$1.8B	$2.1B	$1.1B	$9.6B	$16.1B	$2.4B	$2.3B	$2.4B	$961.0M
Inventory	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Receivables	$57.0M	$69.0M	$39.0M	$40.0M	$0	$0	$0	$0	$0	$63.4B
Fixed Assets	$289.0M	$532.0M	$494.0M	$455.0M	$759.0M	$665.0M	$612.0M	$590.0M	$574.0M	$544.0M
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Investments	$23.6B	$33.4B	$32.8B	$36.1B	$66.3B	$64.8B	$68.2B	$70.7B	$71.5B	$13.0B
Other Assets	$191.0M	$1.4B	$1.4B	$1.4B	$1.5B	$1.5B	$1.5B	$1.5B	$1.5B	$1.6B
Total Liabilities	$25.9B	$36.8B	$36.0B	$38.2B	$75.9B	$80.6B	$70.4B	$72.4B	$73.0B	$74.7B
Current Liabilities	$24.2B	$35.3B	$34.5B	$37.7B	$72.5B	$77.4B	$66.3B	$68.8B	$69.5B	$71.3B
Borrowings	$1.9B	$4.9B	$2.3B	$5.6B	$3.9B	$3.7B	$4.1B	$3.7B	$4.6B	$4.6B
Other Liabilities	$23.9B	$32.0B	$33.8B	$32.7B	$72.0B	$76.9B	$66.3B	$68.7B	$68.4B	$70.2B
Equity	$146.0M	$204.0M	$199.0M	$195.0M	$347.0M	$333.0M	$336.0M	$349.0M	$328.0M	$303.0M
Reserves	$2.4B	$4.3B	$4.5B	$4.8B	$8.0B	$8.2B	$8.3B	$9.0B	$8.8B	$8.8B

For First Horizon Corporation, operating cash flow was positive in 9 of 10 reported years; free cash flow in the latest year was $955.0M; free cash flow was positive in 9 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating Cash Flow	$180.0M	$-29.0M	$234.0M	$830.0M	$172.0M	$725.0M	$2.3B	$1.3B	$1.3B	$988.0M
Investing Cash Flow	$-2.5B	$-1.4B	$432.0M	$-2.4B	$-5.0B	$-4.7B	$8.3B	$-2.6B	$-1.1B	$-1.5B
Financing Cash Flow	$2.6B	$-208.0M	$2.0B	$-389.0M	$7.1B	$4.4B	$-11.4B	$2.3B	$-937.0M	$880.0M
Net Cash Flow	$7.0M	$414.0M	$-47.0M	$-138.0M	$381.0M	$140.0M	$-245.0M	$188.0M	$-194.0M	$58.0M
Free Cash Flow	$117.0M	$-82.0M	$186.0M	$781.0M	$114.0M	$672.0M	$2.3B	$1.3B	$1.2B	$955.0M

Valuation & Return Ratios

Metric	Value
PEG Ratio	0.32
EV / EBITDA	—
FCF Yield	—
Quick Ratio	—
Interest Coverage	—
Return 1Y	1.27%
Return 3Y	139.82%
Return 5Y	67.32%

First Horizon Corporation (FHN) financials — frequently asked questions

What is First Horizon Corporation's annual revenue?

First Horizon Corporation (FHN) reported annual revenue of $5.0B in its most recent fiscal year.

What is First Horizon Corporation's net profit?

First Horizon Corporation (FHN) reported net profit of $983.0M in its most recent fiscal year.

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