公司概述
First Horizon Corporation functions as the parent bank holding company for First Horizon Bank, delivering a comprehensive suite of financial services through its Regional Banking, Specialty Banking, and Corporate segments. The organization operates within the Financial Services sector, specifically classified under the Banks - Regional industry, which characterizes its focus on localized lending and deposit gathering rather than nationwide universal banking. The company maintains a significant market presence with a total market capitalization of $11.80 billion and generates annual revenue of $3.35 billion based on trailing twelve-month data. With an employee count of 7,277, the firm demonstrates substantial operational scale, indicating a well-established infrastructure capable of serving a diverse client base across commercial, business, consumer, and private client markets. These valuation and revenue figures collectively suggest that First Horizon holds a solid mid-tier position within the regional banking landscape, balancing asset size with manageable operational complexity.
财务健康
First Horizon reported trailing twelve-month revenue of $3.35 billion and net income of $956.00 million, while specific EBITDA figures are not disclosed in the available data. The substantial gap between the reported revenue and net income reveals a cost structure where operating expenses consume a significant portion of gross receipts, typical for banking institutions where gross margins are structurally zero due to the intangible nature of financial assets. The company reports no available free cash flow metrics, which limits the direct assessment of cash generation flexibility but does not preclude operational efficiency in managing liquidity reserves. Marginal analysis shows a gross margin of 0.0%, reflecting the standard banking model where revenue is primarily interest-based without intermediate goods costs; an operating margin of 43.2% and a profit margin of 29.3% indicate strong cost control and high profitability relative to revenue. The balance sheet holds $4.95 billion in cash against $5.35 billion in total debt, suggesting a highly liquid position, though the debt-to-equity ratio is not reported. Although the current ratio is unavailable, the net cash position implies robust short-term liquidity management. Return on equity stands at 10.9% while return on assets is 1.2%, metrics that reveal management's effectiveness in generating shareholder value relative to equity capital and utilizing total assets to produce earnings.
估值评估
The stock trades with a trailing P/E ratio of 13.06 and a forward P/E of 10.40, where the lower forward multiple implies that the market expects earnings to grow faster than current levels, thereby reducing the valuation multiple over time. The price-to-book ratio is 1.39, indicating that the market values the company at a 39% premium over its tangible book value, reflecting confidence in the quality of its loan portfolio and intangible assets. Alternative valuation metrics include a price-to-sales ratio of 3.52 and an unavailable EV/EBITDA figure, suggesting that the market prioritizes revenue quality and asset growth in its pricing model for this financial institution. The 52-week trading range spans from a low of $15.86 to a high of $26.56, providing a clear context for current pricing volatility and historical performance bounds. With a beta of 0.63, the stock exhibits lower volatility than the broader market, meaning its price movements are generally less sensitive to overall market fluctuations, offering a relative defensive characteristic for fixed-income adjacent equities.
Growth & Income
Revenue growth for the trailing twelve months stands at 23.7%, while earnings growth is significantly higher at 72.3%, indicating that profitability is expanding at a rate much faster than top-line revenue generation. This divergence suggests improved efficiency or margin expansion rather than purely volume-driven growth, as the company converts a larger percentage of revenue into net income. First Horizon offers a dividend yield of 2.8% with a payout ratio of 32.1%, a level that appears sustainable given the strong earnings growth and substantial cash reserves relative to debt obligations. The relatively low payout ratio allows the company to retain a majority of its earnings for internal reinvestment, capital expansion, or debt reduction while maintaining consistent shareholder returns. Overall, the growth and income profile presents a combination of accelerating profitability and a conservative, sustainable dividend policy suitable for income-oriented portfolios seeking stability.