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Side-by-side financial comparison of FIRST HORIZON CORP (FHN) and Mid-America Apartment Communities (MAA). Click either name above to swap in a different company.
FIRST HORIZON CORP is the larger business by last-quarter revenue ($888.0M vs $553.7M, roughly 1.6× Mid-America Apartment Communities). On growth, Mid-America Apartment Communities posted the faster year-over-year revenue change (438.7% vs 21.8%). Over the past eight quarters, FIRST HORIZON CORP's revenue compounded faster (20.0% CAGR vs 0.7%).
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.
Mid-America Apartment Communities, Inc. (MAA) is a publicly traded real estate investment trust based in Memphis, Tennessee that invests in apartments in the Southeastern United States and the Southwestern United States.
FHN vs MAA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $888.0M | $553.7M |
| Net Profit | $261.0M | — |
| Gross Margin | — | — |
| Operating Margin | 38.5% | — |
| Net Margin | 29.4% | — |
| Revenue YoY | 21.8% | 438.7% |
| Net Profit YoY | 57.2% | — |
| EPS (diluted) | $0.51 | $4.34 |
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 | — | $553.7M | ||
| Q4 25 | $888.0M | $555.6M | ||
| Q3 25 | $889.0M | $554.4M | ||
| Q2 25 | $830.0M | $549.9M | ||
| Q1 25 | $812.0M | $549.3M | ||
| Q4 24 | $729.0M | $549.8M | ||
| Q3 24 | $827.0M | $551.1M | ||
| Q2 24 | — | $546.4M |
| Q1 26 | — | — | ||
| Q4 25 | $261.0M | $57.6M | ||
| Q3 25 | $262.0M | $99.5M | ||
| Q2 25 | $241.0M | $108.1M | ||
| Q1 25 | $218.0M | $181.7M | ||
| Q4 24 | $166.0M | $166.6M | ||
| Q3 24 | $218.0M | $115.2M | ||
| Q2 24 | — | $102.0M |
| Q1 26 | — | — | ||
| Q4 25 | 38.5% | 10.4% | ||
| Q3 25 | 38.7% | 18.7% | ||
| Q2 25 | 37.2% | 20.2% | ||
| Q1 25 | 35.1% | 34.0% | ||
| Q4 24 | 28.8% | 31.3% | ||
| Q3 24 | 34.0% | 21.5% | ||
| Q2 24 | — | 19.3% |
| Q1 26 | — | — | ||
| Q4 25 | 29.4% | 10.4% | ||
| Q3 25 | 29.5% | 18.0% | ||
| Q2 25 | 29.0% | 19.7% | ||
| Q1 25 | 26.8% | 33.1% | ||
| Q4 24 | 22.8% | 30.3% | ||
| Q3 24 | 26.4% | 20.9% | ||
| Q2 24 | — | 18.7% |
| Q1 26 | — | $4.34 | ||
| Q4 25 | $0.51 | $0.48 | ||
| Q3 25 | $0.50 | $0.84 | ||
| Q2 25 | $0.45 | $0.92 | ||
| Q1 25 | $0.41 | $1.54 | ||
| Q4 24 | $0.29 | $1.43 | ||
| Q3 24 | $0.40 | $0.98 | ||
| Q2 24 | — | $0.86 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $8.8B | — |
| Total Assets | $83.9B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $60.3M | ||
| Q3 25 | — | $32.2M | ||
| Q2 25 | — | $54.5M | ||
| Q1 25 | — | $55.8M | ||
| Q4 24 | — | $43.0M | ||
| Q3 24 | — | $50.2M | ||
| Q2 24 | — | $62.8M |
| Q1 26 | — | — | ||
| Q4 25 | $8.8B | $5.7B | ||
| Q3 25 | $8.9B | $5.8B | ||
| Q2 25 | $9.0B | $5.9B | ||
| Q1 25 | $8.7B | $5.9B | ||
| Q4 24 | $8.8B | $5.9B | ||
| Q3 24 | $9.0B | $5.9B | ||
| Q2 24 | — | $6.0B |
| Q1 26 | — | — | ||
| Q4 25 | $83.9B | $12.0B | ||
| Q3 25 | $83.2B | $11.9B | ||
| Q2 25 | $82.1B | $11.8B | ||
| Q1 25 | $81.5B | $11.8B | ||
| Q4 24 | $82.2B | $11.8B | ||
| Q3 24 | $82.6B | $11.8B | ||
| Q2 24 | — | $11.6B |
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% | — |
| 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 | $261.7M | ||
| Q3 25 | $-200.0M | $266.4M | ||
| Q2 25 | $83.0M | $353.4M | ||
| Q1 25 | $349.0M | $196.6M | ||
| Q4 24 | $191.0M | $239.1M | ||
| Q3 24 | $389.0M | $309.5M | ||
| Q2 24 | — | $349.4M |
| Q1 26 | — | — | ||
| Q4 25 | $389.0M | $158.6M | ||
| Q3 25 | $-208.0M | $170.8M | ||
| Q2 25 | $74.0M | $264.5M | ||
| Q1 25 | $340.0M | $124.0M | ||
| Q4 24 | $174.0M | $152.6M | ||
| Q3 24 | $383.0M | $215.5M | ||
| Q2 24 | — | $259.7M |
| Q1 26 | — | — | ||
| Q4 25 | 43.8% | 28.5% | ||
| Q3 25 | -23.4% | 30.8% | ||
| Q2 25 | 8.9% | 48.1% | ||
| Q1 25 | 41.9% | 22.6% | ||
| Q4 24 | 23.9% | 27.8% | ||
| Q3 24 | 46.3% | 39.1% | ||
| Q2 24 | — | 47.5% |
| Q1 26 | — | — | ||
| Q4 25 | 0.8% | 18.6% | ||
| Q3 25 | 0.9% | 17.2% | ||
| Q2 25 | 1.1% | 16.2% | ||
| Q1 25 | 1.1% | 13.2% | ||
| Q4 24 | 2.3% | 15.7% | ||
| Q3 24 | 0.7% | 17.1% | ||
| Q2 24 | — | 16.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.52× | 4.55× | ||
| Q3 25 | -0.76× | 2.68× | ||
| Q2 25 | 0.34× | 3.27× | ||
| Q1 25 | 1.60× | 1.08× | ||
| Q4 24 | 1.15× | 1.43× | ||
| Q3 24 | 1.78× | 2.69× | ||
| Q2 24 | — | 3.43× |
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% |
MAA
| Same Store Communities | $517.0M | 93% |
| Non-Same Store Communities | $22.1M | 4% |
| Lease-up/Development Communities | $7.7M | 1% |
| Commercial Property/Land | $7.0M | 1% |
