FHNFIRST HORIZON CORP
National Commercial Banks · $5.4B market cap · 7,404 employees
0.2×
Less likely than average to be taken private
Top 49% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works
Takeover signals
What an activist or buyer would see: cheap, overpaid, diluted or under pressure.
3of 15 firedHow well they predict deals →
- Earnings not backed by cashYes64% of net incomeCash flow under 80% of net income
- Payouts exceed cash flowYes196% of cash flowBuybacks + dividends over cash flow
- Quiet on AIYes0.4 per 10K words · 17th pctBottom quartile of AI mentions in 10-Ks
12 other checks
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Goodwill-heavyNo2% of assetsOver 40% of assets
- Shareholder dissentNo97% lowest supportAny vote under 80% support
- Low revenue per employeeNo$462K · 85th pctBottom quartile of its SIC industry
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$5.4B market capMarket cap $500M–$5B
- Recurring revenueNo4 of 1010-K business scored 7+ of 10 for recurring revenue
- AI-rollup shapedNo0 of 1010-K business scored 5+ of 10 as an AI-rollup target
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$6M netNet sales over $10M in 12 months
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Apr 22, 2022 | DEFM14A | The Toronto-Dominion Bank | $25.00 | 37% |
| Apr 12, 2022 | PREM14A | The Toronto-Dominion Bank | $25.00 | 37% |
Key numbers
- Revenue
- $3.4B
- 7.2% YoY
- Operating margin
- —
- EBITDA
- —
- Net debt / EBITDA
- —
- $2.3B net debt
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | — | $3.2B | $3.5B | $3.2B | $3.4B | 7.2% |
| Net income | $999M | $900M | $897M | $775M | $982M | 27% |
| Operating cash flow | $725M | $2.3B | $1.3B | $1.3B | $628M | 50% |
| Capex | $37M | $28M | $37M | $44M | $33M | 25% |
| Stock-based comp | $43M | $75M | $36M | $59M | $61M | 3.4% |
| Buybacks | $416M | $12M | $10M | $626M | $918M | 47% |
| Dividends | $333M | $324M | $335M | $332M | $314M | 5.4% |
13D filers
None on file.
Insider trading
−$6Mnet selling by insiders, open market, last 12 months
Bought $0 · 0 tradesSold $6M · 21 trades
Pay vs performance
No pay-versus-performance disclosure yet.