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First HorizonFHN +0.75%69 Net Margin % is 30.58% as of Mar. 2026, which is 7% above its 10-year median of 28.64. GuruFocus rates FHN with a GF Score™ of 69/100 and a GF Value™ of $21.56 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,526 Banks companies, First Horizon ranks better than 61.27% on this metric.
Net margin is calculated as Net Income divided by its Revenue. First Horizon's Net Income for the
three
months ended in Mar. 2026 was $263 Mil. First Horizon's Revenue for the
three
months ended in Mar. 2026 was $860 Mil. Therefore, First Horizon's net margin for the quarter that ended in Mar. 2026 was 30.58%.
The historical rank and industry rank for First Horizon's Net Margin % or its related term are showing as below:
FHN'
s Net Margin % Range Over the Past 10 Years
Min: 12.7 Med: 28.64 Max: 33.41
Current: 30.53
FHN's Net Margin % is ranked better than 61.27% of 1526
companies
in the Banks industry
Industry Median: 27.06
vs FHN: 30.53
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
First Horizon Net Margin % Related Terms
First Horizon Net Margin % Historical Data
* Premium members only.
The historical data trend for First Horizon's Net Margin % 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 Net Margin %, along with its competitors' market caps and Net Margin % 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 Net Margin % vs Banks Industry
For the Banks industry and Financial Services sector, First Horizon's Net Margin % distribution charts can be found below:
* The bar in red indicates where First Horizon's Net Margin % falls into.
* 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 Net Margin % of 30.58% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on First Horizon and its competitors. This is near median its historical median of 28.64. Over the past decade, First Horizon's Net Margin % has ranged from 12.70 to 33.41. According to the industry distribution chart, First Horizon ranks #591 out of 1526 companies in the Banks industry, placing it in the top 38.7%.
Is First Horizon's Net Margin % too high?
First Horizon's current Net Margin % of 30.58% is near median its 10-year median of 28.64. Over the past 10 years, this metric has ranged from a low of 12.70 to a high of 33.41. The Banks industry median Net Margin % is 27.06. First Horizon's value of 30.58% is 13% above this industry median. Based on the distribution chart, First Horizon ranks #591 out of 1526 companies in the Banks industry, which is above the industry midpoint. 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 Net Margin % compare to WBS and BPOP?
According to the Banks industry distribution chart, First Horizon ranks #591 out of 1526 companies for Net Margin %. This puts First Horizon in the upper half of its industry. The industry median Net Margin % is 27.06. First Horizon's value of 30.58% is 13% above this benchmark. Historically, First Horizon's own Net Margin % has ranged from 12.70 to 33.41 over the past decade. While the company's 10-year median is 28.64 vs. the industry median of 27.06, 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 Net Margin % for a Banks company?
The median Net Margin % among Banks companies is 27.06, based on 1,526 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Horizon's current Net Margin % of 30.58% is 13% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on First Horizon and its competitors. For the Banks industry, the median Net Margin % is 27.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Horizon's current Net Margin % is 30.58%, which is near median its own 10-year median of 28.64. 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 $25.64 — trading 18.9% above its estimated fair value. The current Net Margin % is 30.58%, which is near median its 10-year median of 28.64 and 13% above the Banks industry median of 27.06. 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 Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For First Horizon (FHN), the current Net Margin % is 30.58% as of Mar. 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 $25.64 is trading 18.9% above its estimated GF Value™ of $21.56.
GuruFocus considers First Horizon to be Modestly Overvalued.
Key valuation signals for FHN:
Net Margin %: 30.58% (near median its 10-year median of 28.64)
GF Value™: $21.56 vs. price of $25.64 (18.9% above fair value)
Industry Position: 13% above the Banks median (#591 of 1526)
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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