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Market cap is the total market value to buy the whole company. It is equal to the share price times the number of Shares Outstanding (EOP). First Horizon's share price for the quarter that ended in Mar. 2026 was $22.76. First Horizon's Shares Outstanding (EOP) for the quarter that ended in Mar. 2026 was 476 Mil. Therefore, First Horizon's market cap for the quarter that ended in Mar. 2026 was $10,827 Mil.
First Horizon's quarterly market cap
increased
from Sep. 2025 ($11,313 Mil) to Dec. 2025 ($11,587 Mil) but then
declined
from Dec. 2025 ($11,587 Mil) to Mar. 2026 ($10,827 Mil).
First Horizon's annual market cap
increased
from Dec. 2023 ($7,913 Mil) to Dec. 2024 ($10,559 Mil) and
increased
from Dec. 2024 ($10,559 Mil) to Dec. 2025 ($11,587 Mil).
Enterprise Value is the theoretical takeover price. It is more comprehensive than market capitalization (market cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash and cash equivalents. First Horizon's Enterprise Value for Today is $13,141 Mil.
Market cap is not the real price you pay for a company. If you buy the company and become its owner, you become the owner of the cash the company has, and you also assume the companys debt. The real price you pay is the Enterprise Value.
Warren Buffett uses the ratio of total market cap of all public traded companies over GDP to measure if the market is expensive. As of April 2012, the US total market cap is about $14.7 trillion, while the US GDP is about $15 trillion. The market was modestly overvalued.
First Horizon Market Cap Related Terms
First Horizon Market Cap Historical Data
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The historical data trend for First Horizon's Market Cap 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 Market Cap, along with its competitors' market caps and Market Cap 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 Market Cap vs Banks Industry
For the Banks industry and Financial Services sector, First Horizon's Market Cap distribution charts can be found below:
* The bar in red indicates where First Horizon's Market Cap falls into.
Market cap is the short version of market capitalization. It is the total market value to buy the whole company. It is equal to the share price times the number of shares outstanding.
First Horizon's Market Cap for the fiscal year that ended in Dec. 2025 is calculated as
* 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 Market Cap of $12,193 Mil as of Jul. 31, 2026. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on First Horizon and its competitors. According to the industry distribution chart, First Horizon ranks #181 out of 1543 companies in the Banks industry, placing it in the top 11.7%.
Is First Horizon's Market Cap too high?
First Horizon's current Market Cap is $12,193 Mil. The Banks industry median Market Cap is 727.13. First Horizon's value of $12,193 Mil is 1576.9% above this industry median. Based on the distribution chart, First Horizon ranks #181 out of 1543 companies in the Banks industry, which is in the top quartile — a strong position 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 Market Cap compare to WBS and BPOP?
According to the Banks industry distribution chart, First Horizon ranks #181 out of 1543 companies for Market Cap. This places First Horizon in the top 12% of its industry — outperforming the majority of peers. The industry median Market Cap is 727.13. First Horizon's value of $12,193 Mil is 1576.9% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Market Cap for a Banks company?
The median Market Cap among Banks companies is 727.13, based on 1,543 companies in the industry. Companies in the top quartile (top 25%) have a Market Cap significantly above this median, while those in the bottom quartile fall well below. However, Market Cap should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Horizon's current Market Cap of $12,193 Mil is 1576.9% 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 Market Cap mean?
A high Market Cap can signal that a stock is expensive relative to its fundamentals. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on First Horizon and its competitors. For the Banks industry, the median Market Cap is 727.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Horizon's current Market Cap is $12,193 Mil. 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 $21.56, compared to a current price of $25.69 — trading 19.2% above its estimated fair value. The current Market Cap is $12,193 Mil and 1576.9% above the Banks industry median of 727.13. 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 Market Cap calculated?
Market Cap is calculated from a company's financial statements. For First Horizon (FHN), the current Market Cap is $12,193 Mil as of Jul. 31, 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 $25.69 is trading 19.2% above its estimated GF Value™ of $21.56.
GuruFocus considers First Horizon to be Modestly Overvalued.
Key valuation signals for FHN:
Market Cap: $12,193 Mil
GF Value™: $21.56 vs. price of $25.69 (19.2% above fair value)
Industry Position: 1576.9% above the Banks median (#181 of 1543)
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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