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Side-by-side financial comparison of FIRST HORIZON CORP (FHN) and Liberty Energy Inc. (LBRT). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $888.0M, roughly 1.1× FIRST HORIZON CORP). FIRST HORIZON CORP runs the higher net margin — 29.4% vs 2.2%, a 27.2% gap on every dollar of revenue. On growth, FIRST HORIZON CORP posted the faster year-over-year revenue change (21.8% vs 4.5%). Over the past eight quarters, FIRST HORIZON CORP's revenue compounded faster (20.0% CAGR vs -6.2%).
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
Liberty Energy Inc. is a North American energy services provider specializing in hydraulic fracturing and well completion solutions for oil and gas operators. It serves clients across major U.S. shale basins, offering low-emission equipment and tailored support to optimize well productivity.
FHN vs LBRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $888.0M | $1.0B |
| Net Profit | $261.0M | $22.6M |
| Gross Margin | — | — |
| Operating Margin | 38.5% | 2.2% |
| Net Margin | 29.4% | 2.2% |
| Revenue YoY | 21.8% | 4.5% |
| Net Profit YoY | 57.2% | — |
| EPS (diluted) | $0.51 | $0.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $1.0B | ||
| Q4 25 | $888.0M | $1.0B | ||
| Q3 25 | $889.0M | $947.4M | ||
| Q2 25 | $830.0M | $1.0B | ||
| Q1 25 | $812.0M | $977.5M | ||
| Q4 24 | $729.0M | $943.6M | ||
| Q3 24 | $827.0M | $1.1B | ||
| Q2 24 | — | $1.2B |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $261.0M | $13.7M | ||
| Q3 25 | $262.0M | $43.1M | ||
| Q2 25 | $241.0M | $71.0M | ||
| Q1 25 | $218.0M | $20.1M | ||
| Q4 24 | $166.0M | $51.9M | ||
| Q3 24 | $218.0M | $73.8M | ||
| Q2 24 | — | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 20.6% | ||
| Q3 25 | — | 18.7% | ||
| Q2 25 | — | 22.1% | ||
| Q1 25 | — | 22.1% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 27.9% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 38.5% | 1.9% | ||
| Q3 25 | 38.7% | -0.3% | ||
| Q2 25 | 37.2% | 3.6% | ||
| Q1 25 | 35.1% | 1.9% | ||
| Q4 24 | 28.8% | 2.6% | ||
| Q3 24 | 34.0% | 9.4% | ||
| Q2 24 | — | 12.2% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 29.4% | 1.3% | ||
| Q3 25 | 29.5% | 4.5% | ||
| Q2 25 | 29.0% | 6.8% | ||
| Q1 25 | 26.8% | 2.1% | ||
| Q4 24 | 22.8% | 5.5% | ||
| Q3 24 | 26.4% | 6.5% | ||
| Q2 24 | — | 9.3% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $0.51 | $0.08 | ||
| Q3 25 | $0.50 | $0.26 | ||
| Q2 25 | $0.45 | $0.43 | ||
| Q1 25 | $0.41 | $0.12 | ||
| Q4 24 | $0.29 | $0.31 | ||
| Q3 24 | $0.40 | $0.44 | ||
| Q2 24 | — | $0.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $699.1M |
| Total DebtLower is stronger | — | $7.1M |
| Stockholders' EquityBook value | $8.8B | $1.9B |
| Total Assets | $83.9B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $699.1M | ||
| Q4 25 | — | $27.6M | ||
| Q3 25 | — | $13.5M | ||
| Q2 25 | — | $19.6M | ||
| Q1 25 | — | $24.1M | ||
| Q4 24 | — | $20.0M | ||
| Q3 24 | — | $23.0M | ||
| Q2 24 | — | $30.0M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | — | $246.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $190.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $8.8B | $2.1B | ||
| Q3 25 | $8.9B | $2.1B | ||
| Q2 25 | $9.0B | $2.0B | ||
| Q1 25 | $8.7B | $2.0B | ||
| Q4 24 | $8.8B | $2.0B | ||
| Q3 24 | $9.0B | $2.0B | ||
| Q2 24 | — | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $83.9B | $3.6B | ||
| Q3 25 | $83.2B | $3.5B | ||
| Q2 25 | $82.1B | $3.4B | ||
| Q1 25 | $81.5B | $3.4B | ||
| Q4 24 | $82.2B | $3.3B | ||
| Q3 24 | $82.6B | $3.3B | ||
| Q2 24 | — | $3.2B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.10× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $396.0M | — |
| Free Cash FlowOCF − Capex | $389.0M | — |
| FCF MarginFCF / Revenue | 43.8% | — |
| Capex IntensityCapex / Revenue | 0.8% | 13.1% |
| Cash ConversionOCF / Net Profit | 1.52× | — |
| TTM Free Cash FlowTrailing 4 quarters | $595.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $396.0M | $195.4M | ||
| Q3 25 | $-200.0M | $51.5M | ||
| Q2 25 | $83.0M | $170.6M | ||
| Q1 25 | $349.0M | $192.1M | ||
| Q4 24 | $191.0M | $177.3M | ||
| Q3 24 | $389.0M | $244.5M | ||
| Q2 24 | — | $248.2M |
| Q1 26 | — | — | ||
| Q4 25 | $389.0M | $-10.0M | ||
| Q3 25 | $-208.0M | $-67.2M | ||
| Q2 25 | $74.0M | $33.1M | ||
| Q1 25 | $340.0M | $58.2M | ||
| Q4 24 | $174.0M | $-26.2M | ||
| Q3 24 | $383.0M | $77.9M | ||
| Q2 24 | — | $112.2M |
| Q1 26 | — | — | ||
| Q4 25 | 43.8% | -1.0% | ||
| Q3 25 | -23.4% | -7.1% | ||
| Q2 25 | 8.9% | 3.2% | ||
| Q1 25 | 41.9% | 6.0% | ||
| Q4 24 | 23.9% | -2.8% | ||
| Q3 24 | 46.3% | 6.8% | ||
| Q2 24 | — | 9.7% |
| Q1 26 | — | 13.1% | ||
| Q4 25 | 0.8% | 19.8% | ||
| Q3 25 | 0.9% | 12.5% | ||
| Q2 25 | 1.1% | 13.2% | ||
| Q1 25 | 1.1% | 13.7% | ||
| Q4 24 | 2.3% | 21.6% | ||
| Q3 24 | 0.7% | 14.6% | ||
| Q2 24 | — | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.52× | 14.28× | ||
| Q3 25 | -0.76× | 1.20× | ||
| Q2 25 | 0.34× | 2.40× | ||
| Q1 25 | 1.60× | 9.55× | ||
| Q4 24 | 1.15× | 3.42× | ||
| Q3 24 | 1.78× | 3.31× | ||
| Q2 24 | — | 2.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FHN
| Commercial Consumer And Wealth Segment | $776.0M | 87% |
| Other | $88.0M | 10% |
| Corporate | $24.0M | 3% |
LBRT
Segment breakdown not available.
