First Horizon Corporation (FHN) Income Statement
FHN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFHN revenue and net income
Where FHN's revenue goes
2025Each bar shows an amount and its share of revenue. FHN kept 19.7% of revenue as net income.
FHN profit margins
FHN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +1.0% | +13.5% | +12.2% | +15.2% |
| Gross profit | +13.9% | +3.5% | +10.2% | +11.6% |
| Operating income | +27.5% | +3.4% | +6.5% | +28.0% |
| Net income | +26.8% | +3.0% | +3.1% | +27.6% |
| EPS (diluted) | +21.8% | +4.4% | +12.4% | +8.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FHN quarterly EPS vs estimates
First Horizon beat the analyst EPS estimate in 8 of the last 8 quarters.
FHN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.99B | $4.94B | $4.71B | $3.41B | $3.15B | $2.80B | $2.23B | $2.21B | $1.45B | $1.33B |
| Cost of revenue | $1.63B | $1.99B | $1.82B | $386.0M | −$146.0M | $739.0M | $459.0M | $334.0M | $147.6M | $99.8M |
| Gross profit | $3.36B | $2.95B | $2.90B | $3.02B | $3.30B | $2.06B | $1.77B | $1.88B | $1.30B | $1.23B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $1.51B | $1.30B | $1.34B | $1.24B | $1.34B | $1.07B | $742.0M | $683.0M | $685.0M | $654.6M |
| Total operating expenses | $2.08B | $1.94B | $1.77B | $1.87B | $2.02B | $1.13B | $1.19B | $1.17B | $994.2M | $883.4M |
| Operating income | $1.28B | $1.00B | $1.13B | $1.16B | $1.28B | $933.0M | $586.0M | $714.0M | $308.9M | $345.3M |
| Interest income | $4.19B | $4.35B | $3.87B | $2.70B | $2.17B | $1.90B | $1.62B | $1.55B | $989.9M | $817.9M |
| Interest expense | $1.56B | $1.84B | $1.56B | $291.0M | $164.0M | $236.0M | $414.0M | $326.0M | $147.6M | $88.8M |
| Income before taxes | $1.28B | $1.00B | $1.13B | $1.16B | $1.28B | $933.0M | $586.0M | $714.0M | $308.9M | $345.3M |
| Income taxes | $282.0M | $211.0M | $212.0M | $247.0M | $274.0M | $76.0M | $134.0M | $157.0M | $131.9M | $106.8M |
| Net income | $983.0M | $775.0M | $897.0M | $900.0M | $999.0M | $845.0M | $441.0M | $545.0M | $165.5M | $227.0M |
| EBITDA | $1.34B | $1.11B | $1.23B | $1.24B | $1.33B | $995.0M | $652.0M | $773.0M | $379.8M | $410.0M |
| EPS (diluted) | $1.90 | $1.56 | $1.43 | $1.67 | $2.07 | $1.06 | $1.67 | $1.41 | $1.12 | $0.94 |
| Gross margin | 67.3% | 59.7% | 61.4% | 88.7% | 104.6% | 73.6% | 79.4% | 84.9% | 89.8% | 92.5% |
| Operating margin | 25.7% | 20.4% | 23.9% | 34.0% | 40.7% | 33.3% | 26.3% | 32.3% | 21.3% | 26.0% |
| Net margin | 19.7% | 15.7% | 19.0% | 26.4% | 31.7% | 30.2% | 19.8% | 24.6% | 11.4% | 17.1% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $778.0M | $1.24B | $862.0M | $1.26B | $1.27B | $1.21B | $1.17B | $1.14B | $1.29B | $1.26B | $1.25B | $1.25B |
| Cost of revenue | $346.0M | $369.0M | $0 | $375.0M | $398.0M | $433.0M | $423.0M | $448.0M | $527.0M | $519.0M | $498.0M | $519.0M |
| Gross profit | $432.0M | $871.0M | $862.0M | $888.0M | $870.0M | $777.0M | $749.0M | $693.0M | $767.0M | $737.0M | $748.0M | $727.0M |
| Sales, general & admin | $384.0M | $390.0M | $442.0M | $386.0M | $330.0M | $316.0M | $310.0M | $310.0M | $319.0M | $323.0M | $346.0M | $398.0M |
| Total operating expenses | $529.0M | $530.0M | $505.0M | $545.0M | $526.0M | $468.0M | $464.0M | $483.0M | $486.0M | $477.0M | $494.0M | $549.0M |
| Operating income | −$97.0M | $341.0M | $357.0M | $343.0M | $344.0M | $309.0M | $285.0M | $210.0M | $281.0M | $260.0M | $254.0M | $178.0M |
| Interest income | — | $1.03B | $1.00B | $1.05B | $1.08B | $1.04B | $1.01B | $1.07B | $1.12B | $1.09B | $1.07B | $1.09B |
| Interest expense | $371.0M | $354.0M | $337.0M | $375.0M | $403.0M | $403.0M | $383.0M | $438.0M | $492.0M | $464.0M | $448.0M | $469.0M |
| Income before taxes | −$97.0M | $341.0M | $342.0M | $343.0M | $344.0M | $309.0M | $285.0M | $210.0M | $281.0M | $260.0M | $254.0M | $178.0M |
| Income taxes | −$18.0M | $66.0M | $76.0M | $78.0M | $78.0M | $64.0M | $63.0M | $40.0M | $58.0M | $56.0M | $57.0M | −$11.0M |
| Net income | −$83.0M | $271.0M | $263.0M | $261.0M | $262.0M | $241.0M | $218.0M | $166.0M | $218.0M | $199.0M | $192.0M | $184.0M |
| EBITDA | −$97.0M | $362.0M | $379.0M | $360.0M | $350.0M | $328.0M | $307.0M | $229.0M | $312.0M | $285.0M | $280.0M | $189.0M |
| EPS (diluted) | $0.53 | $0.54 | $0.53 | $0.52 | $0.51 | $0.45 | $0.42 | $0.43 | $0.42 | $0.36 | $0.35 | $0.32 |
| Gross margin | 55.5% | 70.2% | 100.0% | 70.3% | 68.6% | 64.2% | 63.9% | 60.7% | 59.3% | 58.7% | 60.0% | 58.3% |
| Operating margin | −12.5% | 27.5% | 41.4% | 27.2% | 27.1% | 25.5% | 24.3% | 18.4% | 21.7% | 20.7% | 20.4% | 14.3% |
| Net margin | −10.7% | 21.9% | 30.5% | 20.7% | 20.7% | 19.9% | 18.6% | 14.5% | 16.8% | 15.8% | 15.4% | 14.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FHN's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FHN financial results
In fiscal year 2025 (ended December 31, 2025), First Horizon reported revenue of $5.0 billion, up 1.0% from the year before. It had net income of $983.0 million (up 26.8%), a net profit margin of 19.7%. Diluted earnings per share came to $1.90. Over five years revenue grew at an average rate of 12.2% a year.
See the FHN stock overview for the latest quote and news, or the FHN chart for price history and technical indicators.
FHN income statement FAQ
What is First Horizon's annual revenue?
First Horizon reported total revenue of $5.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 1.0% from $4.9 billion the previous year.
Is First Horizon profitable?
Yes. First Horizon reported net income of $983.0 million in fiscal 2025, a net profit margin of 19.7%; its operating margin was 25.7%.
What is First Horizon's gross margin?
First Horizon's gross margin was 67.3% in fiscal 2025: for every $100 of revenue, First Horizon kept $67 after the direct cost of its products and services.
How fast is First Horizon growing?
Revenue grew 12.2% a year on average over the last five fiscal years, from $2.8 billion to $5.0 billion.
What are First Horizon's earnings per share?
First Horizon earned $1.90 per diluted share in fiscal 2025, compared with $1.56 a year earlier.
When does First Horizon's fiscal year end?
First Horizon's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.