First Horizon Corporation

First Horizon Corporation

FHNยทNYSE

$23.63

+0.042%
Financial ServicesBanks - Regional

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments. The company also underwrites bank-eligible securities and other fixed-income securities eligible for underwriting by financial subsidiaries; sells loans and derivatives; and offers advisory services. In addition, it offers various services, such as mortgage banking; title insurance and loan-closing; brokerage; correspondent banking; nationwide check clearing and remittance processing; trust, fiduciary, and agency; equipment finance; and investment and financial advisory services. Further, the company sells mutual fund and retail insurance products; and credit cards. It operates approximately 500 banking offices in 22 states under the First Horizon Bank brand; and 400 banking centers in 12 states under the FHN Financial brand in the United States. The company was formerly known as First Horizon National Corporation and changed its name to First Horizon Corporation in November 2020. First Horizon Corporation was founded in 1864 and is headquartered in Memphis, Tennessee.

At a Glance

Live Snapshot
Market Cap$11.22B
EPS1.8900
P/E Ratio12.50
Earnings Date07/15/2026
First Horizon Corporation

First Horizon Corporation Fair Value Envelope

FHN ยท NYSE

Our analysis suggests that FHN has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $23.63, this represents a potential HIDDEN relative to our calculated worth for First Horizon Corporation.

Intrinsic Value
Current Price: $23.63

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$3.1B
+ Cash & Equivalents$961.0M
Firm Value$4.1B
- Debt$4.6B
Equity Value-$511.5M
/ Shares Outstanding514,544,279B
DCF Value-$1
OVERVALUED BY 104%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$770.9M
$601.5M
$469.3M
$366.1M
$285.7M
$222.9M
$173.9M
$135.7M
$105.9M
$82.6M
Maintenance CapEx
-$5.1M
-$4.0M
-$3.1M
-$2.4M
-$1.9M
-$1.5M
-$1.2M
-$906.4K
-$707.2K
-$551.8K
Owner Earnings
$765.7M
$597.4M
$466.1M
$363.7M
$283.8M
$221.4M
$172.7M
$134.8M
$105.2M
$82.0M
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$709.0M
$512.2M
$370.0M
$267.3M
$193.1M
$139.5M
$100.8M
$72.8M
$52.6M
$38.0M
Terminal Value represents 20.8% of Enterprise Value