Last 47 quarters of trend data · Financial Services · Banks - Regional
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
First Horizon Corporation's quarterly P/E stands at 11.5x, down 33.8% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 22.0% YoY to 11.0x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 13.02 | 11.49 | 11.30 | 11.78 | 11.84 | 17.36 | 9.71 | 11.60 | 11.67 | 11.42 | 11.98 | 5.03 | 10.34 |
| — | -33.8% | +16.5% | +1.6% | +1.5% | +52.0% | -19.0% | +130.5% | +12.9% | -16.1% | -5.8% | -73.3% | -40.2% | |
| P/S Ratio | 2.38 | 2.35 | 2.27 | 2.25 | 2.17 | 2.36 | 1.61 | 1.72 | 1.72 | 1.59 | 1.26 | 1.35 | 2.38 |
| — | -0.4% | +40.8% | +31.1% | +25.7% | +47.8% | +28.6% | +26.9% | -27.5% | -54.2% | -64.5% | -66.9% | -47.1% | |
| P/B Ratio | 1.33 | 1.30 | 1.25 | 1.18 | 1.12 | 1.18 | 0.90 | 0.96 | 0.94 | 0.85 | 0.70 | 0.71 | 1.14 |
| — | +9.9% | +39.1% | +22.2% | +19.9% | +38.1% | +27.5% | +36.6% | -18.1% | -47.9% | -55.4% | -51.5% | -23.0% | |
| P/FCF | 18.90 | 7.48 | — | 36.81 | 7.47 | 15.45 | 5.45 | — | 2.59 | 5.66 | 2.24 | 5.34 | — |
| — | -51.6% | — | — | +187.9% | +173.1% | +142.9% | — | — | -96.9% | -47.4% | +39.8% | — | |
| EV / EBITDA | 11.58 | 10.99 | 11.58 | 10.52 | 11.05 | 14.09 | 7.87 | 10.44 | 8.77 | 12.31 | 7.71 | 4.80 | 10.24 |
| — | -22.0% | +47.1% | +0.8% | +25.9% | +14.5% | +2.1% | +117.2% | -14.3% | +10.6% | +2.4% | -11.6% | +667.6% | |
| EV / EBIT | 12.09 | 11.27 | 11.79 | 11.17 | 11.90 | 15.36 | 8.74 | 11.44 | 9.67 | 13.07 | 8.91 | 5.15 | 11.17 |
| — | -26.6% | +34.8% | -2.4% | +23.0% | +17.6% | -1.8% | +121.9% | -13.4% | +11.4% | +5.9% | -14.0% | +682.0% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
First Horizon Corporation's operating margin was 27.2% in Q4 2025, up 0.0 pp QoQ and up 8.8 pp YoY. The trailing four-quarter average of 26.0% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 15.8% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 67.3% | 70.3% | 68.6% | 64.2% | 63.9% | 60.7% | 59.3% | 58.7% | 60.0% | 58.3% | 52.5% | 62.8% | 73.6% |
| — | +15.8% | +15.8% | +9.4% | +6.5% | +4.1% | +12.9% | -6.5% | -18.5% | -27.9% | -38.8% | -30.8% | -27.3% | |
| Operating Margin | 25.7% | 27.2% | 27.1% | 25.5% | 24.3% | 18.4% | 21.7% | 20.7% | 20.4% | 14.3% | 15.7% | 36.4% | 31.0% |
| — | +47.6% | +24.9% | +23.4% | +19.3% | +28.8% | +37.9% | -43.1% | -34.2% | -56.9% | -57.9% | +23.1% | -12.7% | |
| Net Margin | 19.7% | 20.7% | 20.7% | 19.9% | 18.6% | 14.5% | 16.8% | 15.8% | 15.4% | 14.8% | 11.1% | 27.8% | 23.5% |
| — | +42.0% | +22.6% | +25.7% | +20.7% | -1.5% | +51.5% | -43.1% | -34.4% | -44.1% | -61.2% | +21.7% | -13.4% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.8% | 2.8% | 2.8% | 2.6% | 2.4% | 1.8% | 2.4% | 2.2% | 2.1% | 2.0% | 1.5% | 3.6% | 2.9% |
| — | +57.6% | +18.7% | +20.0% | +15.5% | -11.5% | +54.6% | -39.7% | -27.7% | -35.6% | -51.0% | +80.4% | +26.9% | |
| ROA | 1.2% | 0.3% | 0.3% | 0.3% | 0.3% | 0.2% | 0.3% | 0.2% | 0.2% | 0.2% | 0.2% | 0.4% | 0.3% |
| — | +55.0% | +19.8% | +21.5% | +13.4% | -10.1% | +61.8% | -38.1% | -25.3% | -32.9% | -49.0% | +95.8% | +43.3% | |
| ROIC | 7.0% | 1.8% | 1.8% | 1.6% | 1.5% | 1.2% | 1.5% | 1.4% | 1.5% | 1.0% | 1.0% | 1.9% | 1.7% |
| — | +53.3% | +17.5% | +15.1% | +3.4% | +12.0% | +54.1% | -24.8% | -12.6% | -49.9% | -55.6% | +33.8% | +6.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
First Horizon Corporation's Debt/EBITDA ratio is 13.0x, down from 16.0x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 646.5% YoY to 0.96x, strengthening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.50 | 0.50 | 0.61 | 0.52 | 0.61 | 0.50 | 0.41 | 0.64 | 0.42 | 0.40 | 0.42 | 0.90 | 0.91 |
| — | -0.8% | +49.0% | -18.3% | +43.9% | +26.7% | -2.4% | -29.7% | -53.6% | -17.1% | +14.6% | +117.7% | +138.9% | |
| Debt / EBITDA | 3.42 | 12.99 | 16.00 | 14.64 | 17.87 | 20.07 | 12.14 | 19.96 | 13.81 | 19.57 | 16.36 | 17.77 | 22.41 |
| — | -35.2% | +31.8% | -26.7% | +29.4% | +2.5% | -25.8% | +12.4% | -38.3% | +67.9% | +109.6% | +24.1% | +84.8% | |
| Current Ratio | 0.96 | 0.96 | 0.15 | 0.16 | 0.13 | 0.13 | 0.15 | 0.15 | 0.16 | 0.16 | 0.16 | 0.20 | 0.18 |
| — | +646.5% | -3.7% | +9.2% | -18.5% | -17.5% | -4.4% | -24.5% | -14.3% | -8.3% | -18.6% | -26.7% | -42.0% | |
| Quick Ratio | 0.96 | 0.96 | 0.15 | 0.16 | 0.13 | 0.13 | 0.15 | 0.15 | 0.16 | 0.16 | 0.16 | 0.20 | 0.18 |
| — | +646.5% | -3.7% | +9.2% | -18.5% | -17.5% | -4.4% | -24.5% | -14.3% | -8.3% | -18.6% | -26.7% | -42.0% | |
| Interest Coverage | 0.82 | 0.91 | 0.85 | 0.77 | 0.74 | 0.48 | 0.57 | 0.56 | 0.57 | 0.38 | 0.41 | 1.10 | 1.43 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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First Horizon Corporation's current P/E is 13.0x. The average P/E over the last 4 quarters is 11.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
First Horizon Corporation's current operating margin is 25.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking First Horizon Corporation's business trajectory between earnings reports.