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FIRST HORIZON CORP

FHN · Financials · Bank · FY2025 filings ·

Scored by the financial-sector model

74FY2025 filing
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FIRST HORIZON CORP is a bank, scored by a separate financial-sector model — not the operating Moat Score you’ll see on other companies. A bank or insurer is a balance-sheet business the margin-and-ROIC lens doesn’t fit, so it’s read through the components below instead. The two models are calibrated differently and are not comparable: a financial-sector score is never ranked against, sorted with, or averaged into an operating Moat Score. How the models work.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.

Records still being gathered — partial as of retrieval Sep 17, 2026.

Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (12 versus 5). The filing codes alone do not establish that every such row arose from a compensation plan.

Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.

InsiderShares owned afterDateFiling detail
ARDOIN ELIZABETH ASEVP, Chief Communications OfcExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 6 paired events22,571$17.3081$390,661See lot detailAug 20, 2026
6 filed lots
  • Table I · Common Stock: 4,258 shares at $18.68 · code M · owned after 340,368 · Paired event: 4,258 Stock Options (Right to Buy) → 4,258 Common Stock ·
  • Table I · Common Stock: 3,502 shares at $18.68 · code M · owned after 343,870 · Paired event: 3,502 Stock Options (Right to Buy) → 3,502 Common Stock ·
  • Table I · Common Stock: 3,763 shares at $17.94 · code M · owned after 344,131 · Paired event: 3,763 Stock Options (Right to Buy) → 3,763 Common Stock ·
  • Table I · Common Stock: 3,324 shares at $17.94 · code M · owned after 343,692 · Paired event: 3,324 Stock Options (Right to Buy) → 3,324 Common Stock ·
  • Table I · Common Stock: 6,724 shares at $15.35 · code M · owned after 347,092 · Paired event: 6,724 Stock Options (Right to Buy) → 6,724 Common Stock ·
  • Table I · Common Stock: 1,000 shares at $15.35 · code M · owned after 341,368 · Paired event: 1,000 Stock Options (Right to Buy) → 1,000 Common Stock ·
ARDOIN ELIZABETH ASEVP, Chief Communications OfcOpen-market or private sale (S)Table I · Disposed · Common Stock18,313$24.8535$455,142See lot detailAug 20, 2026
5 filed lots
  • Table I · Common Stock: 1,000 shares at $24.845 · code S · owned after 340,368 ·
  • Table I · Common Stock: 3,502 shares at $24.85 · code S · owned after 340,368 ·
  • Table I · Common Stock: 3,763 shares at $24.855 · code S · owned after 340,368 ·
  • Table I · Common Stock: 3,324 shares at $24.855 · code S · owned after 340,368 ·
  • Table I · Common Stock: 6,724 shares at $24.855 · code S · owned after 340,368 ·
ARDOIN ELIZABETH ASEVP, Chief Communications OfcExercise or conversion of derivative security (M)Table II · Disposed · Stock Options (Right to Buy) · 6 paired events22,571—Exercise or conversion of derivative security (M)—See lot detailAug 20, 2026
6 filed lots
  • Table II · Stock Options (Right to Buy): 4,258 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 4,258 Stock Options (Right to Buy) → 4,258 Common Stock ·
  • Table II · Stock Options (Right to Buy): 3,502 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 3,502 Stock Options (Right to Buy) → 3,502 Common Stock ·
  • Table II · Stock Options (Right to Buy): 3,763 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 3,763 Stock Options (Right to Buy) → 3,763 Common Stock ·
  • Table II · Stock Options (Right to Buy): 3,324 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 2,882 · Paired event: 3,324 Stock Options (Right to Buy) → 3,324 Common Stock ·
  • Table II · Stock Options (Right to Buy): 6,724 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 6,724 Stock Options (Right to Buy) → 6,724 Common Stock ·
  • Table II · Stock Options (Right to Buy): 1,000 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 6,306 · Paired event: 1,000 Stock Options (Right to Buy) → 1,000 Common Stock ·

Source-event as of . Retrieved .

Flagship explainer

How FIRST HORIZON CORP earns its spread

Start with net interest income, then follow the filed path to net income.

net interest incomeBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Net interest income$2.6B · 100%Income before tax$1.3B · 49%Income tax$282M · 11%Net income$982M · 37%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
Table alternative
Filed lineValue% of net interest incomeSource
$2.6B100%
Income before tax$1.3B49%
Income tax$282M11%
$982M37%
Source: · event Dec 31, 2025 · retrieved Aug 3, 2026
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Flagship explainer

What FIRST HORIZON CORP owns — and owes

FIRST HORIZON CORP's filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$83.9B100%
Cash and equivalents$1.6B2%
Property, plant and equipment$544M1%
Goodwill$1.5B2%
Deferred tax assets$672M1%
Operating lease right-of-use assets$321M0%
Total liabilities$74.7B89%
$3.3B4%
Stockholders’ equity$8.8B11%
Source: · event Dec 31, 2025 · retrieved Aug 3, 2026

Flagship explainer

What drives FIRST HORIZON CORP’s return on equity?

One or more filed inputs needed for the five-factor decomposition are unavailable.

DuPont source inputs
InputValueFiscal yearSource
Net income$982MFY2025
Income before tax$1.3BFY2025
Operating incomeUnavailableFY2025
Revenue$3.4BFY2025
Ending assets$83.9BFY2025
Beginning assets$82.2BFY2024
Ending equity$8.8BFY2025
Beginning equity$8.8BFY2024
Source:
  • SEC filingFiling detailsAccession 0000036966-26-000051
· event Dec 31, 2025 · retrieved Aug 3, 2026 · annual-row source set

Flagship explainer

Where FIRST HORIZON CORP's cash went

FIRST HORIZON CORP’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed lineValue% of cash from operationsSource
Cash from operations$628M100%
Depreciation and amortization$64M10%
Share-based compensation$61M10%
Cash from investing−$1.1B−174%
Cash from financing$524M83%
Net change in cash$58M9%
Source: · event Dec 31, 2025 · retrieved Aug 3, 2026

Curated 19-manager tier

Who reported holding FIRST HORIZON CORP

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

0 holding0 exited0 not holding0/19 resolved19 not retrieved

Named manager positions and quarter-over-quarter changes
ManagerReported positionQuarter-over-quarterFiling accession
Abrams CapitalNot retrievedComparison not retrievedFiling not retrieved
Akre CapitalNot retrievedComparison not retrievedFiling not retrieved
Baupost GroupNot retrievedComparison not retrievedFiling not retrieved
Berkshire HathawayNot retrievedComparison not retrievedFiling not retrieved
Brave Warrior AdvisorsNot retrievedComparison not retrievedFiling not retrieved
Dodge & CoxNot retrievedComparison not retrievedFiling not retrieved
First EagleNot retrievedComparison not retrievedFiling not retrieved
FundsmithNot retrievedComparison not retrievedFiling not retrieved
Gardner Russo & QuinnNot retrievedComparison not retrievedFiling not retrieved
Gates Foundation TrustNot retrievedComparison not retrievedFiling not retrieved
Mairs & PowerNot retrievedComparison not retrievedFiling not retrieved
Markel / Markel-GaynerNot retrievedComparison not retrievedFiling not retrieved
Oakmark / Harris AssociatesNot retrievedComparison not retrievedFiling not retrieved
Pershing SquareNot retrievedComparison not retrievedFiling not retrieved
Polen CapitalNot retrievedComparison not retrievedFiling not retrieved
Sequoia / Ruane CunniffNot retrievedComparison not retrievedFiling not retrieved
Southeastern Asset ManagementNot retrievedComparison not retrievedFiling not retrieved
Tweedy, BrowneNot retrievedComparison not retrievedFiling not retrieved
Yacktman Asset ManagementNot retrievedComparison not retrievedFiling not retrieved

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source: Filing source not retrieved · event Jun 30, 2026 · retrieved Aug 3, 2026

Flagship explainer

What FIRST HORIZON CORP insiders reported

Records still being gathered — partial as of retrieval Sep 17, 2026.

Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.

What the financial-sector model scores (bank)

64

Median ROE 10.9% on average equity, above the 10% hurdle in 67% of 9 years.

75

Q3 scored 3 evidenced ratios equally; reserve score is unadjusted for Q4 and capped at 70.

89

Profitable in 100% of 10 years, ROE steady.

77

Net interest income is 2.88% of average assets, very steady over 9 years through FY2025.

Not scored for this company

Canonical split-adjusted share history is incomplete; no book-value trend claim is made.
Underwriting applies to insurance carriers; not part of the bank model.

Scored 4 of 5 applicable components (bank model); weights renormalized over the scored set.

Fundamentals

The 15-year revenue, margin, and ROIC series is built for the operating model’s lens and isn’t published for banks and insurers — a balance-sheet business is read through the components above, not through operating-company margins.

Financial-sector score history

Reading
Aug 3, 202674
Jul 26, 202674
Jul 26, 202674

Append-only — readings are added, never rewritten. Only readings on the same methodology version (moat-index-financials@1.0.0) are comparable; a change across versions is a scoring change, not a company event.

Scored from primary SEC filings via the public financial-sector methodology. Educational only — not a recommendation to buy or sell FHN. See the disclaimer.