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First HorizonFHN +1.36%69 EV-to-OCF is 23.98 as of Aug. 04, 2026, which is 233% above its 10-year median of 7.20. GuruFocus rates FHN with a GF Score™ of 69/100 and a GF Value™ of $21.58 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,499 Banks companies, First Horizon ranks worse than 89.53% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, First Horizon's Enterprise Value is $13,359 Mil.
First Horizon's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was $557 Mil. Therefore, First Horizon's EV-to-OCF for today is 23.98.
The historical rank and industry rank for First Horizon's EV-to-OCF or its related term are showing as below:
FHN'
s EV-to-OCF Range Over the Past 10 Years
Min: -274.13 Med: 7.2 Max: 52.99
Current: 23.98
During the past 13 years, the highest EV-to-OCF of First Horizon was 52.99. The lowest was -274.13. And the median was 7.20.
FHN's EV-to-OCF is ranked worse than 89.53% of 1499
companies
in the Banks industry
Industry Median: 3.99
vs FHN: 23.98
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
First Horizon's PE Ratio (TTM) for today is calculated as:
First Horizon's share price for today is $26.15.
First Horizon's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2.090.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
First Horizon EV-to-OCF Related Terms
First Horizon EV-to-OCF Historical Data
* Premium members only.
The historical data trend for First Horizon's EV-to-OCF 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.
For the Banks - Regional subindustry, First Horizon's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Banks Industry
For the Banks industry and Financial Services sector, First Horizon's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where First Horizon's EV-to-OCF falls into.
First Horizon's current Enterprise Value is $13,359 Mil.
First Horizon's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $557 Mil.
* 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.
First Horizon (FHN) has a EV-to-OCF of 23.98 as of Aug. 04, 2026. This is 233% above median its historical median of 7.20. According to the industry distribution chart, First Horizon ranks #1342 out of 1499 companies in the Banks industry, placing it in the top 89.5%.
Is First Horizon's EV-to-OCF too high?
First Horizon's current EV-to-OCF of 23.98 is 233% above median its 10-year median of 7.20. The Banks industry median EV-to-OCF is 3.99. First Horizon's value of 23.98 is 501% above this industry median. Based on the distribution chart, First Horizon ranks #1342 out of 1499 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, First Horizon has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Horizon's EV-to-OCF compare to WBS and BPOP?
According to the Banks industry distribution chart, First Horizon ranks #1342 out of 1499 companies for EV-to-OCF. This places First Horizon in the lower half of its industry. The industry median EV-to-OCF is 3.99. First Horizon's value of 23.98 is 501% above this benchmark. While the company's 10-year median is 7.20 vs. the industry median of 3.99, First Horizon has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Banks company?
The median EV-to-OCF among Banks companies is 3.99, based on 1,499 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Horizon's current EV-to-OCF of 23.98 is 501% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Banks industry, the median EV-to-OCF is 3.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Horizon's current EV-to-OCF is 23.98, which is 233% above median its own 10-year median of 7.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Horizon stock overvalued right now?
Based on GuruFocus' analysis, First Horizon (FHN) is currently considered Modestly Overvalued. The stock's GF Value™ is $21.58, compared to a current price of $26.15 — trading 21.2% above its estimated fair value. The current EV-to-OCF is 23.98, which is 233% above median its 10-year median of 7.20 and 501% above the Banks industry median of 3.99. First Horizon's overall GF Score™ is 69/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For First Horizon (FHN), the current EV-to-OCF is 23.98 as of Aug. 04, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is First Horizon (FHN) Overvalued in 2026?
Based on GuruFocus' analysis, First Horizon stock appears to be overvalued.
The current stock price of $26.15 is trading 21.2% above its estimated GF Value™ of $21.58.
GuruFocus considers First Horizon to be Modestly Overvalued.
Key valuation signals for FHN:
EV-to-OCF: 23.98 (233% above median its 10-year median of 7.20)
GF Value™: $21.58 vs. price of $26.15 (21.2% above fair value)
Industry Position: 501% above the Banks median (#1342 of 1499)
No single metric tells the full story. See the FHN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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. The Wholesale segment delivers industry-specific products and services, while the Corporate segment provides internal support functions like finance, risk, and audit.
69GF Score
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EV-to-OCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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