First Horizon Corporation (FHN) Fair Value & Analysis
Financial Services · US · Market cap $12.2B · ISIN US3205171057
What is First Horizon Corporation really worth?
First Horizon Corporation
FHN · US
A solid business, but trading 15% above our fair value of $21.75.
Strengths
Risks
For context
Fair value as of: Aug 30, 2026
From 6 valuation models · updated 6 days ago
Share price −4.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range $8.59 – $26.22 · fair‑value band $16.31 – $27.19 · the $24.96 price screens above the $21.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 30, 2026.
Analysis
First Horizon Corporation (FHN) currently trades at $24.96, while our model-based Fair Value estimate is $21.75, implying the stock looks roughly 14.8% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of $26.10 per share, and 2 of the 6 models we run sit above the $24.96 price. Bear case: the Dividend Discount group reads lowest at $10.48, and 4 of the 6 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, First Horizon Corporation generated revenue of $3.4B at a net margin of 29.9%. Revenue grew 9.7% year over year. It earns a return on equity of 11.3%. Net debt stands at $3.6B. Fundamentals as of Aug 30, 2026
Our scenario range runs from $16.31 (bear case) to $27.19 (bull case); at $24.96, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 5% below its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at −13%, FHN screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.9308 per share, which is 4.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Multiples ($26.10) versus Dividend Discount ($10.48). Highest evidence: Residual Income (73).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 65
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. It operates through Regional Banking, Specialty Banking, and Corporate segments.
Full company description
First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. It operates through Regional Banking, Specialty Banking, and Corporate segments. The company offers commercial banking, business banking, consumer banking, private client investment, wealth management, financial planning, trust and asset management services, asset-based lending, commercial real estate, equipment finance/leasing, energy finance, international banking, healthcare finance, transportation and logistics finance, treasury management solutions, and loan syndications services. It also provides fixed income securities sales, trading, underwriting, and strategies for institutional clients; loan sales; portfolio advisory services; derivative sales; mortgage warehouse lending; franchise finance; corporate and correspondent banking; and mortgage origination services. Further, it provides transaction processing services, credit card products, and sale of mutual funds. First Horizon Corporation was formerly known as First Horizon National Corporation and changed its name to First Horizon Corporation in April 2004. The company was founded in 1864 and is headquartered in Memphis, Tennessee.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
First Horizon Corporation reported revenue of $5.0B in FY2025 versus $3.2B in FY2021, a compound +12.1%/yr. Reported net income was $983M in FY2025, compounding −0.4%/yr from FY2021.
of which total revenue +16.3 % · buybacks/dilution −8.7 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
FHN screens 15% overvalued. Compare with DBS Group →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- First Horizon Corporation to Participate in the Barclays 24th Annual Global Financial Services Conference
- First Horizon Executive Amy Perry Named Woman of Impact by the Mid-South Chapter of the American Heart Association
- Coming Soon: First Horizon Bank to Open New Banking Center in Houston Area
- First Horizon Rallies 9.4% in a Year: How to Play the Stock Now?
Peer Group
Banks - Regional · 1071 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DBS Group D05 | 75.65 SGD | 40.48 SGD | −46% |
| China Merchants Bank Co 3968 | HK$47.96 | HK$76.51 | +60% |
| Intesa Sanpaolo S.p.A ISP | €6.78 | €5.66 | −17% |
| HDFC Bank Limited HDB | $23.17 | $24.12 | +4% |
| BNP Paribas SA BNP | €102.56 | €144.64 | +41% |
| UniCredit S.p.A UCG | €84.71 | €77.62 | −8% |
| Mizuho Financial Group MFG | $10.74 | $9.69 | −10% |
| ICICI Bank Limited ICICIBANK | ₹1,443 | ₹835.21 | −42% |
| Oversea-Chinese Banking Corporation O39 | 31.07 SGD | 19.80 SGD | −36% |
| CaixaBank, S.A CABK | €13.52 | €8.85 | −35% |
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