First Horizon Corporation Financial Ratios — FHN-PB Stock

Profitability (USD)

	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Return on Common Equity (%)	-6.33	15.3	-3.1	2.46	23.5	7.88	20.09	12.55	34.71	23.3	35.73	32.99	24.84	21.41	16.36
Return on Assets (%)	0.2	0.53	-0.11	0.11	0.9	0.33	0.83	0.47	1.33	1.05	1.33	1.15	1.07	1.12	0.95
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	5.21	6.24	8.91	6.04	4.96	5.39	5.22	5.44	3.13	3.63	2.42	1.51	2.72	3.23	3.26
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	3.27	10.47	-7.68	1.55	27.75	9.61	27.86	23.7	37.84	32.23	36.37	42.94	37.15	35.75	32.46
Profit Margin (%)	3.17	9.17	-2.1	2.27	19.41	7.63	18.31	12.7	28.88	24.26	32.94	33.41	28.85	28.43	25.03
Net Income to Common Margin (%)	-3.65	9.17	-2.1	1.78	18.86	7.08	17.81	12.23	28.56	23.93	32.05	32.17	27.82	27.42	23.84
Effective Tax Rate (%)	- -	10.57	- -	- -	26.45	10.11	30.93	42.7	21.99	22.87	8.15	21.34	21.31	18.79	21
Dvd Payout Ratio (%)	254.69	5.46	-202.17	84.42	19.79	52.61	26.05	43.84	24.69	37.42	25.53	33.43	36.32	37.1	41.75
Sustainable Growth Rate (%)	9.78	14.47	-9.37	0.38	18.85	3.74	14.86	7.05	26.14	14.58	26.61	21.96	15.81	13.47	9.53

Credit (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Total Debt	3,474	2,609	2,622	1,875	1,991	1,405	1,078	3,798	1,240	4,309	1,836	1,692	2,690	1,476	2,240
ST Debt	246	173	441	181	157	138	83	3,022	511	3,518	166	102	1,093	326	1,045
LT Debt	3,228	2,436	2,181	1,694	1,834	1,267	995	776	729	791	1,670	1,590	1,597	1,150	1,195
Total Debt/EBITDA	42.11	29.2	22.22	26.18	35	23.12	16.67	53.55	21.01	65.29	29.61	37.6	31.65	14.47	22.18
Net Debt/EBITDA	31.66	19.83	15.25	11.11	0.36	8.25	-5.5	27.83	-13.89	48.38	-124.48	-319.16	2.88	-8.47	-2.02
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.22	3.7	3.44	3.54	3.89	3.91	4.11	3.29	4.27	4.6	3.1	3.62	4.77	5.28	5.73
Long-Term Debt/Equity (%)	120.54	90.74	86.91	67.74	71.05	47.99	36.77	16.94	15.23	15.58	20.1	18.72	18.68	12.38	13.12
Long-Term Debt/Capital (%)	70.7	63.74	57.55	54.48	54.26	44.93	37.62	13.97	21.62	11.82	32.06	27.74	20.57	17.41	15.58
Long-Term Debt/Total Assets (%)	13.07	9.83	8.61	7.12	7.15	4.84	3.48	1.87	1.79	1.83	1.98	1.78	2.02	1.41	1.45
Total Debt/Equity (%)	129.74	97.16	104.49	74.98	77.14	53.21	39.84	82.92	25.9	84.89	22.1	19.92	31.47	15.89	24.59
Total Debt/Capital (%)	76.09	68.25	69.2	60.31	58.91	49.82	40.77	68.39	36.76	64.38	35.25	29.52	34.64	22.35	29.2
Total Debt/Total Assets (%)	14.07	10.52	10.35	7.88	7.76	5.36	3.77	9.17	3.04	9.95	2.18	1.9	3.41	1.81	2.73
Net Debt to Equity	97.54	65.97	71.68	31.82	0.79	18.98	-13.14	43.09	-17.12	62.9	-92.91	-169.08	2.87	-9.3	-2.24
Net Debt/Capital (%)	70.53	59.34	60.65	39.2	1.44	26.15	-29.37	52.92	-62.39	57.25	177.63	139.13	4.61	-20.26	-3.9
EBITDA	82	89	118	72	57	61	65	71	59	66	62	45	85	102	101
EBITDA-CapEx	40	54	96	44	25	21	2	18	11	17	4	-8	57	65	57
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.22	3.7	3.44	3.54	3.89	3.91	4.11	3.29	4.27	4.6	3.1	3.62	4.77	5.28	5.73
Long-Term Debt/Equity (%)	120.54	90.74	86.91	67.74	71.05	47.99	36.77	16.94	15.23	15.58	20.1	18.72	18.68	12.38	13.12
Long-Term Debt/Capital (%)	70.7	63.74	57.55	54.48	54.26	44.93	37.62	13.97	21.62	11.82	32.06	27.74	20.57	17.41	15.58
Long-Term Debt/Total Assets (%)	13.07	9.83	8.61	7.12	7.15	4.84	3.48	1.87	1.79	1.83	1.98	1.78	2.02	1.41	1.45
Total Debt/Equity (%)	129.74	97.16	104.49	74.98	77.14	53.21	39.84	82.92	25.9	84.89	22.1	19.92	31.47	15.89	24.59
Total Debt/Capital (%)	76.09	68.25	69.2	60.31	58.91	49.82	40.77	68.39	36.76	64.38	35.25	29.52	34.64	22.35	29.2
Total Debt/Total Assets (%)	14.07	10.52	10.35	7.88	7.76	5.36	3.77	9.17	3.04	9.95	2.18	1.9	3.41	1.81	2.73
CFO/Total Liabilities	3.49	0.2	1.63	2.03	3.05	1.56	0.7	-0.08	0.65	2.17	0.23	0.9	3.25	1.79	1.74
CFO/CapEx	18.02	1.24	17	15.77	22.44	9.2	2.88	-0.54	4.88	16.94	2.97	13.68	81.82	35.11	28.82
Altman's Z-Score	0.1	0.1	0.09	0.09	0.09	0.09	0.09	0.07	0.1	0.1	0.07	0.08	0.1	0.11	0.11

Working Capital (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Accounts Receivable Turnover	- -	- -	- -	- -	53.98	21.22	20.48	20.67	35.09	93.56	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	- -	6.76	17.2	17.82	17.66	10.4	3.9	- -	- -	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	862	838	823	1,080	1,971	904	1,433	1,825	2,059	1,116	9,554	16,054	2,445	2,340	2,444
+ Preferred Equity and Hybrid Capital	- -	- -	- -	96	96	96	96	96	96	96	470	520	1,014	520	426
+ Minority/Non Controlling Interest	295	295	295	295	295	295	295	295	295	295	295	295	295	295	295
+ Total Debt	3,474	2,609	2,622	1,875	1,991	1,405	1,078	3,798	1,240	4,309	1,836	1,692	2,690	1,476	2,240
Enterprise Value	2,907	-1,000	-968	-2,212	-3,145	-3,038	-3,908	-2,806	-5,055	-861	-15,000	-22,254	-7,282	-8,440	-5,976
Total Capital	4,566	3,822	3,789	3,109	3,380	2,819	2,644	5,554	3,372	6,693	5,209	5,731	7,765	6,604	7,671
Total Debt/Capital (%)	76.09	68.25	69.2	60.31	58.91	49.82	40.77	68.39	36.76	64.38	35.25	29.52	34.64	22.35	29.2
Total Debt / EV	1.2	-2.61	-2.71	-0.85	-0.63	-0.46	-0.28	-1.35	-0.25	-5	-0.12	-0.08	-0.37	-0.17	-0.37
EV/Sales	1.83	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	35.24	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	3.79	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	3.59	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	2,907	2,066	2,094	1,187	411	892	36	2,365	-428	3,584	-6,953	-13,547	1,554	-49	517
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	1,585	1,431	1,324	1,187	1,147	1,126	1,240	1,303	1,887	1,818	2,565	2,990	3,120	3,155	3,096
TTM EBITDA	82	89	118	72	57	61	65	71	59	66	62	45	85	102	101
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	768	44	372	431	705	367	180	-29	234	830	172	725	2,291	1,299	1,268
TTM Free Cash Flow to Firm	811	79	393	459	736	407	243	24	282	879	230	778	2,319	1,336	1,312

Multiples (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	2,907	-1,000	-968	-2,212	-3,145	-3,038	-3,908	-2,806	-5,055	-861	-15,000	-22,254	-7,282	-8,440	-5,976
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	24	26.32	23.29	13.58	22.89
EV/Sales	1.83	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	35.24	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	1.83	1.44	1.58	1	0.36	0.79	0.03	1.81	- -	1.97	- -	- -	0.5	- -	0.17
EV/Sales High	1.83	1.44	1.58	1	0.36	0.79	0.03	1.81	- -	1.97	- -	- -	0.5	- -	0.17
EV/Sales Low	1.83	1.44	1.58	1	0.36	0.79	0.03	1.81	- -	1.97	- -	- -	0.5	- -	0.17
EV/EBITDA Average	35.24	23.13	17.75	16.57	7.23	14.68	0.55	33.34	-7.26	54.3	-112.15	-301.04	18.28	-0.48	5.12
EV/EBITDA High	35.24	23.13	17.75	16.57	7.23	14.68	0.55	33.34	-7.26	54.3	-112.15	-301.04	18.28	-0.48	5.12
EV/EBITDA Low	35.24	23.13	17.75	16.57	7.23	14.68	0.55	33.34	-7.26	54.3	-112.15	-301.04	18.28	-0.48	5.12
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	20.94	22.11	21.07	20.96	24.68
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	28.34	28.72	28.16	26.61	25.77
Enterprise Value Average	2,907	2,066	2,094	1,187	411	892	36	2,365	-428	3,584	-6,953	-13,547	1,554	-49	517
Enterprise Value High	2,907	2,066	2,094	1,187	411	892	36	2,365	-428	3,584	-6,953	-13,547	1,554	-49	517
Enterprise Value Low	2,907	2,066	2,094	1,187	411	892	36	2,365	-428	3,584	-6,953	-13,547	1,554	-49	517

	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Shares Outstanding	263	257	244	236	234	239	234	327	319	311	555	534	537	559	524
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

First Horizon Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)