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FHN (First Horizon) E10 : $1.59 (As of Mar. 2025)


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What is First Horizon E10?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

First Horizon's adjusted earnings per share data for the three months ended in Mar. 2025 was $0.410. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.59 for the trailing ten years ended in Mar. 2025.

During the past 12 months, First Horizon's average E10 Growth Rate was 8.90% per year. During the past 3 years, the average E10 Growth Rate was 13.80% per year. During the past 5 years, the average E10 Growth Rate was 18.80% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of First Horizon was 141.00% per year. The lowest was -50.00% per year. And the median was 12.20% per year.

As of today (2025-07-06), First Horizon's current stock price is $22.01. First Horizon's E10 for the quarter that ended in Mar. 2025 was $1.59. First Horizon's Shiller PE Ratio of today is 13.84.

During the past 13 years, the highest Shiller PE Ratio of First Horizon was 343.00. The lowest was 7.24. And the median was 19.12.


First Horizon E10 Historical Data

The historical data trend for First Horizon's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

First Horizon E10 Chart

First Horizon Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.84 1.01 1.25 1.43 1.49

First Horizon Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.46 1.46 1.48 1.49 1.59

Competitive Comparison of First Horizon's E10

For the Banks - Regional subindustry, First Horizon's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


First Horizon's Shiller PE Ratio Distribution in the Banks Industry

For the Banks industry and Financial Services sector, First Horizon's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where First Horizon's Shiller PE Ratio falls into.


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First Horizon E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, First Horizon's adjusted earnings per share data for the three months ended in Mar. 2025 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=0.41/134.9266*134.9266
=0.410

Current CPI (Mar. 2025) = 134.9266.

First Horizon Quarterly Data

per share eps CPI Adj_EPS
201506 0.220 100.684 0.295
201509 0.250 100.392 0.336
201512 0.200 99.792 0.270
201603 0.200 100.470 0.269
201606 0.240 101.688 0.318
201609 0.270 101.861 0.358
201612 0.230 101.863 0.305
201703 0.230 102.862 0.302
201706 0.380 103.349 0.496
201709 0.280 104.136 0.363
201712 -0.200 104.011 -0.259
201803 0.270 105.290 0.346
201806 0.250 106.317 0.317
201809 0.830 106.507 1.051
201812 0.300 105.998 0.382
201903 0.310 107.251 0.390
201906 0.350 108.070 0.437
201909 0.350 108.329 0.436
201912 0.370 108.420 0.460
202003 0.040 108.902 0.050
202006 0.170 108.767 0.211
202009 0.950 109.815 1.167
202012 0.420 109.897 0.516
202103 0.400 111.754 0.483
202106 0.530 114.631 0.624
202109 0.410 115.734 0.478
202112 0.400 117.630 0.459
202203 0.340 121.301 0.378
202206 0.290 125.017 0.313
202209 0.450 125.227 0.485
202212 0.450 125.222 0.485
202303 0.430 127.348 0.456
202306 0.560 128.729 0.587
202309 0.230 129.860 0.239
202312 0.310 129.419 0.323
202403 0.330 131.776 0.338
202406 0.340 132.554 0.346
202409 0.400 133.029 0.406
202412 0.290 133.157 0.294
202503 0.410 134.927 0.410

Add all the adjusted EPS together and divide 10 will get our e10.


First Horizon  (NYSE:FHN) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

First Horizon's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=22.01/1.59
=13.84

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of First Horizon was 343.00. The lowest was 7.24. And the median was 19.12.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


First Horizon E10 Related Terms

Thank you for viewing the detailed overview of First Horizon's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


First Horizon Business Description

Address
165 Madison Avenue, Memphis, TN, USA, 38103
First Horizon Corp is the parent company of First Tennessee Bank, a prominent regional bank with about 200 branches around Tennessee. The company's reportable segments are: Commercial, Consumer & Wealth, Wholesale, and Corporate. The majority of its revenue is generated from Commercial, Consumer & Wealth. The Commercial, Consumer & Wealth segment offers financial products and services, including traditional lending and deposit taking, to commercial and consumer clients in the southern USA and other selected markets.
Executives
D Bryan Jordan officer: EVP and CFO
Jeff L. Fleming officer: EVP & Chief Accounting Officer 165 MADISON AVENUE, MEMPHIS TN 38103
Barton Harry V Jr director 200 WEST CONGRESS STREET, LAFAYETTE LA 70501
David T Popwell officer: EVP-Regional Bkg & Bkg COO 165 MADISON AVENUE, MEMPHIS TN 38103
Velia Carboni director 165 MADISON AVE, MEMPHIS TN 38103
William H Fenstermaker director 200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Vicki R Palmer director PO BOX 723040, ATLANTA GA 30339
Rosa Sugranes director 2975 N.W. 77TH AVE, DORAL FL 33132
Wendy P Davidson director 2210 WEST OAKLAWN DRIVE, SPRINGDALE AR 72762
Reed Colin V director
Terry Lawson Akins officer: Sr. EVP, Chief Risk Officer 200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Tammy Locascio officer: Sr. EVP, Chief HR Officer 165 MADISON AVE, MEMPHIS TN 38103
Daryl G Byrd director, officer: Executive Chairman of Board 200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Anthony J Restel officer: SEVP Chief Operating Officer 200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Hope Dmuchowski officer: Sr. EVP & CFO 165 MADISON AVE, MEMPHIS TN 38103