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Side-by-side financial comparison of FIRST HORIZON CORP (FHN) and PACS Group, Inc. (PACS). Click either name above to swap in a different company.
PACS Group, Inc. is the larger business by last-quarter revenue ($1.4B vs $888.0M, roughly 1.5× FIRST HORIZON CORP). FIRST HORIZON CORP runs the higher net margin — 29.4% vs 4.4%, a 25.0% gap on every dollar of revenue. On growth, FIRST HORIZON CORP posted the faster year-over-year revenue change (21.8% vs 18.4%). Over the past eight quarters, PACS Group, Inc.'s revenue compounded faster (20.5% CAGR vs 20.0%).
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.
FHN vs PACS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $888.0M | $1.4B |
| Net Profit | $261.0M | $59.7M |
| Gross Margin | — | — |
| Operating Margin | 38.5% | 7.0% |
| Net Margin | 29.4% | 4.4% |
| Revenue YoY | 21.8% | 18.4% |
| Net Profit YoY | 57.2% | 3022.5% |
| EPS (diluted) | $0.51 | $0.42 |
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.
| Q4 25 | $888.0M | $1.4B | ||
| Q3 25 | $889.0M | $1.3B | ||
| Q2 25 | $830.0M | $1.3B | ||
| Q1 25 | $812.0M | $1.3B | ||
| Q4 24 | $729.0M | $1.1B | ||
| Q3 24 | $827.0M | $1.0B | ||
| Q2 24 | — | $981.4M | ||
| Q1 24 | $819.0M | $934.3M |
| Q4 25 | $261.0M | $59.7M | ||
| Q3 25 | $262.0M | $52.4M | ||
| Q2 25 | $241.0M | $51.0M | ||
| Q1 25 | $218.0M | $28.5M | ||
| Q4 24 | $166.0M | $1.9M | ||
| Q3 24 | $218.0M | $15.6M | ||
| Q2 24 | — | $-10.9M | ||
| Q1 24 | $192.0M | $49.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 17.1% | ||
| Q2 24 | — | 22.3% | ||
| Q1 24 | — | 21.2% |
| Q4 25 | 38.5% | 7.0% | ||
| Q3 25 | 38.7% | 6.4% | ||
| Q2 25 | 37.2% | 6.2% | ||
| Q1 25 | 35.1% | 3.8% | ||
| Q4 24 | 28.8% | 1.7% | ||
| Q3 24 | 34.0% | 2.2% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | 31.0% | 8.6% |
| Q4 25 | 29.4% | 4.4% | ||
| Q3 25 | 29.5% | 3.9% | ||
| Q2 25 | 29.0% | 3.9% | ||
| Q1 25 | 26.8% | 2.2% | ||
| Q4 24 | 22.8% | 0.2% | ||
| Q3 24 | 26.4% | 1.5% | ||
| Q2 24 | — | -1.1% | ||
| Q1 24 | 23.4% | 5.3% |
| Q4 25 | $0.51 | $0.42 | ||
| Q3 25 | $0.50 | $0.32 | ||
| Q2 25 | $0.45 | $0.31 | ||
| Q1 25 | $0.41 | $0.17 | ||
| Q4 24 | $0.29 | $-0.03 | ||
| Q3 24 | $0.40 | $0.10 | ||
| Q2 24 | — | $-0.07 | ||
| Q1 24 | $0.33 | $0.38 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $197.0M |
| Total DebtLower is stronger | — | $353.2M |
| Stockholders' EquityBook value | $8.8B | $946.8M |
| Total Assets | $83.9B | $5.6B |
| Debt / EquityLower = less leverage | — | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $197.0M | ||
| Q3 25 | — | $355.7M | ||
| Q2 25 | — | $294.2M | ||
| Q1 25 | — | $287.5M | ||
| Q4 24 | — | $157.7M | ||
| Q3 24 | — | $49.5M | ||
| Q2 24 | — | $73.4M | ||
| Q1 24 | — | $81.2M |
| Q4 25 | — | $353.2M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $411.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $8.8B | $946.8M | ||
| Q3 25 | $8.9B | $871.3M | ||
| Q2 25 | $9.0B | $806.8M | ||
| Q1 25 | $8.7B | $750.2M | ||
| Q4 24 | $8.8B | $709.6M | ||
| Q3 24 | $9.0B | $660.0M | ||
| Q2 24 | — | $572.1M | ||
| Q1 24 | $8.9B | $128.0M |
| Q4 25 | $83.9B | $5.6B | ||
| Q3 25 | $83.2B | $5.6B | ||
| Q2 25 | $82.1B | $5.5B | ||
| Q1 25 | $81.5B | $5.5B | ||
| Q4 24 | $82.2B | $5.2B | ||
| Q3 24 | $82.6B | $4.5B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | $81.8B | $3.9B |
| Q4 25 | — | 0.37× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.58× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-3.4M |
| Free Cash FlowOCF − Capex | $389.0M | — |
| FCF MarginFCF / Revenue | 43.8% | — |
| Capex IntensityCapex / Revenue | 0.8% | — |
| Cash ConversionOCF / Net Profit | 1.52× | -0.06× |
| TTM Free Cash FlowTrailing 4 quarters | $595.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $396.0M | $-3.4M | ||
| Q3 25 | $-200.0M | $204.8M | ||
| Q2 25 | $83.0M | $52.6M | ||
| Q1 25 | $349.0M | $150.2M | ||
| Q4 24 | $191.0M | $64.6M | ||
| Q3 24 | $389.0M | $209.2M | ||
| Q2 24 | — | $34.8M | ||
| Q1 24 | $838.0M | $58.8M |
| Q4 25 | $389.0M | — | ||
| Q3 25 | $-208.0M | — | ||
| Q2 25 | $74.0M | — | ||
| Q1 25 | $340.0M | — | ||
| Q4 24 | $174.0M | — | ||
| Q3 24 | $383.0M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $828.0M | — |
| Q4 25 | 43.8% | — | ||
| Q3 25 | -23.4% | — | ||
| Q2 25 | 8.9% | — | ||
| Q1 25 | 41.9% | — | ||
| Q4 24 | 23.9% | — | ||
| Q3 24 | 46.3% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 101.1% | — |
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.9% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.2% | — |
| Q4 25 | 1.52× | -0.06× | ||
| Q3 25 | -0.76× | 3.91× | ||
| Q2 25 | 0.34× | 1.03× | ||
| Q1 25 | 1.60× | 5.28× | ||
| Q4 24 | 1.15× | 33.78× | ||
| Q3 24 | 1.78× | 13.39× | ||
| Q2 24 | — | — | ||
| Q1 24 | 4.36× | 1.20× |
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% |
PACS
Segment breakdown not available.
