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Side-by-side financial comparison of FIRST HORIZON CORP (FHN) and Royalty Pharma plc (RPRX). Click either name above to swap in a different company.
FIRST HORIZON CORP is the larger business by last-quarter revenue ($888.0M vs $622.0M, roughly 1.4× Royalty Pharma plc). Royalty Pharma plc runs the higher net margin — 34.4% vs 29.4%, a 5.0% gap on every dollar of revenue. On growth, FIRST HORIZON CORP posted the faster year-over-year revenue change (21.8% vs 4.8%). Over the past eight quarters, FIRST HORIZON CORP's revenue compounded faster (20.0% CAGR vs 4.6%).
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.
Acceleron Pharma, Inc. is an American clinical stage biopharmaceutical company based in Cambridge, Massachusetts with a broad focus on developing medicines that regulate the transforming growth factor beta (TGF-β) superfamily of proteins, which play fundamental roles in the growth and repair of cells and tissues such as red blood cells, muscle, bone, and blood vessels.
FHN vs RPRX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $888.0M | $622.0M |
| Net Profit | $261.0M | $214.2M |
| Gross Margin | — | — |
| Operating Margin | 38.5% | 62.4% |
| Net Margin | 29.4% | 34.4% |
| Revenue YoY | 21.8% | 4.8% |
| Net Profit YoY | 57.2% | 2.9% |
| EPS (diluted) | $0.51 | $0.49 |
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 | $622.0M | ||
| Q3 25 | $889.0M | $609.3M | ||
| Q2 25 | $830.0M | $578.7M | ||
| Q1 25 | $812.0M | $568.2M | ||
| Q4 24 | $729.0M | $593.6M | ||
| Q3 24 | $827.0M | $564.7M | ||
| Q2 24 | — | $537.3M | ||
| Q1 24 | $819.0M | $568.0M |
| Q4 25 | $261.0M | $214.2M | ||
| Q3 25 | $262.0M | $288.2M | ||
| Q2 25 | $241.0M | $30.2M | ||
| Q1 25 | $218.0M | $238.3M | ||
| Q4 24 | $166.0M | $208.2M | ||
| Q3 24 | $218.0M | $544.0M | ||
| Q2 24 | — | $102.0M | ||
| Q1 24 | $192.0M | $4.8M |
| Q4 25 | 38.5% | 62.4% | ||
| Q3 25 | 38.7% | 70.1% | ||
| Q2 25 | 37.2% | 36.3% | ||
| Q1 25 | 35.1% | 94.0% | ||
| Q4 24 | 28.8% | 60.9% | ||
| Q3 24 | 34.0% | — | ||
| Q2 24 | — | 50.2% | ||
| Q1 24 | 31.0% | -13.0% |
| Q4 25 | 29.4% | 34.4% | ||
| Q3 25 | 29.5% | 47.3% | ||
| Q2 25 | 29.0% | 5.2% | ||
| Q1 25 | 26.8% | 41.9% | ||
| Q4 24 | 22.8% | 35.1% | ||
| Q3 24 | 26.4% | 96.3% | ||
| Q2 24 | — | 19.0% | ||
| Q1 24 | 23.4% | 0.8% |
| Q4 25 | $0.51 | $0.49 | ||
| Q3 25 | $0.50 | $0.67 | ||
| Q2 25 | $0.45 | $0.07 | ||
| Q1 25 | $0.41 | $0.55 | ||
| Q4 24 | $0.29 | $0.46 | ||
| Q3 24 | $0.40 | $1.21 | ||
| Q2 24 | — | $0.23 | ||
| Q1 24 | $0.33 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $618.7M |
| Total DebtLower is stronger | — | $9.0B |
| Stockholders' EquityBook value | $8.8B | $9.7B |
| Total Assets | $83.9B | $19.6B |
| Debt / EquityLower = less leverage | — | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $618.7M | ||
| Q3 25 | — | $938.9M | ||
| Q2 25 | — | $631.9M | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $929.0M | ||
| Q3 24 | — | $950.1M | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $843.0M |
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
| Q4 25 | $8.8B | $9.7B | ||
| Q3 25 | $8.9B | $9.6B | ||
| Q2 25 | $9.0B | $9.5B | ||
| Q1 25 | $8.7B | $9.8B | ||
| Q4 24 | $8.8B | $10.3B | ||
| Q3 24 | $9.0B | $10.3B | ||
| Q2 24 | — | $9.8B | ||
| Q1 24 | $8.9B | $9.9B |
| Q4 25 | $83.9B | $19.6B | ||
| Q3 25 | $83.2B | $19.3B | ||
| Q2 25 | $82.1B | $18.3B | ||
| Q1 25 | $81.5B | $17.6B | ||
| Q4 24 | $82.2B | $18.2B | ||
| Q3 24 | $82.6B | $18.0B | ||
| Q2 24 | — | $17.7B | ||
| Q1 24 | $81.8B | $16.1B |
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $827.1M |
| Free Cash FlowOCF − Capex | $389.0M | — |
| FCF MarginFCF / Revenue | 43.8% | — |
| Capex IntensityCapex / Revenue | 0.8% | — |
| Cash ConversionOCF / Net Profit | 1.52× | 3.86× |
| TTM Free Cash FlowTrailing 4 quarters | $595.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $396.0M | $827.1M | ||
| Q3 25 | $-200.0M | $702.6M | ||
| Q2 25 | $83.0M | $364.0M | ||
| Q1 25 | $349.0M | $596.1M | ||
| Q4 24 | $191.0M | $742.5M | ||
| Q3 24 | $389.0M | $703.6M | ||
| Q2 24 | — | $658.2M | ||
| Q1 24 | $838.0M | $664.6M |
| 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× | 3.86× | ||
| Q3 25 | -0.76× | 2.44× | ||
| Q2 25 | 0.34× | 12.06× | ||
| Q1 25 | 1.60× | 2.50× | ||
| Q4 24 | 1.15× | 3.57× | ||
| Q3 24 | 1.78× | 1.29× | ||
| Q2 24 | — | 6.45× | ||
| Q1 24 | 4.36× | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
