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Side-by-side financial comparison of FIRST HORIZON CORP (FHN) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
FIRST HORIZON CORP is the larger business by last-quarter revenue ($888.0M vs $625.1M, roughly 1.4× WATTS WATER TECHNOLOGIES INC). FIRST HORIZON CORP runs the higher net margin — 29.4% vs 13.4%, a 16.0% gap on every dollar of revenue. On growth, FIRST HORIZON CORP posted the faster year-over-year revenue change (21.8% vs 15.7%). FIRST HORIZON CORP produced more free cash flow last quarter ($389.0M vs $140.3M). 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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
FHN vs WTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $888.0M | $625.1M |
| Net Profit | $261.0M | $83.7M |
| Gross Margin | — | 49.5% |
| Operating Margin | 38.5% | 18.2% |
| Net Margin | 29.4% | 13.4% |
| Revenue YoY | 21.8% | 15.7% |
| Net Profit YoY | 57.2% | 24.0% |
| EPS (diluted) | $0.51 | $2.50 |
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 | $625.1M | ||
| Q3 25 | $889.0M | $611.7M | ||
| Q2 25 | $830.0M | $643.7M | ||
| Q1 25 | $812.0M | $558.0M | ||
| Q4 24 | $729.0M | $540.4M | ||
| Q3 24 | $827.0M | $543.6M | ||
| Q2 24 | — | $597.3M | ||
| Q1 24 | $819.0M | $570.9M |
| Q4 25 | $261.0M | $83.7M | ||
| Q3 25 | $262.0M | $82.2M | ||
| Q2 25 | $241.0M | $100.9M | ||
| Q1 25 | $218.0M | $74.0M | ||
| Q4 24 | $166.0M | $67.5M | ||
| Q3 24 | $218.0M | $69.1M | ||
| Q2 24 | — | $82.0M | ||
| Q1 24 | $192.0M | $72.6M |
| Q4 25 | — | 49.5% | ||
| Q3 25 | — | 48.8% | ||
| Q2 25 | — | 50.6% | ||
| Q1 25 | — | 48.8% | ||
| Q4 24 | — | 46.7% | ||
| Q3 24 | — | 47.3% | ||
| Q2 24 | — | 47.7% | ||
| Q1 24 | — | 46.9% |
| Q4 25 | 38.5% | 18.2% | ||
| Q3 25 | 38.7% | 18.2% | ||
| Q2 25 | 37.2% | 21.0% | ||
| Q1 25 | 35.1% | 15.7% | ||
| Q4 24 | 28.8% | 16.5% | ||
| Q3 24 | 34.0% | 17.1% | ||
| Q2 24 | — | 18.7% | ||
| Q1 24 | 31.0% | 16.9% |
| Q4 25 | 29.4% | 13.4% | ||
| Q3 25 | 29.5% | 13.4% | ||
| Q2 25 | 29.0% | 15.7% | ||
| Q1 25 | 26.8% | 13.3% | ||
| Q4 24 | 22.8% | 12.5% | ||
| Q3 24 | 26.4% | 12.7% | ||
| Q2 24 | — | 13.7% | ||
| Q1 24 | 23.4% | 12.7% |
| Q4 25 | $0.51 | $2.50 | ||
| Q3 25 | $0.50 | $2.45 | ||
| Q2 25 | $0.45 | $3.01 | ||
| Q1 25 | $0.41 | $2.21 | ||
| Q4 24 | $0.29 | $2.02 | ||
| Q3 24 | $0.40 | $2.06 | ||
| Q2 24 | — | $2.44 | ||
| Q1 24 | $0.33 | $2.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $8.8B | $2.0B |
| Total Assets | $83.9B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $405.5M | ||
| Q3 25 | — | $457.7M | ||
| Q2 25 | — | $369.3M | ||
| Q1 25 | — | $336.8M | ||
| Q4 24 | — | $386.9M | ||
| Q3 24 | — | $303.9M | ||
| Q2 24 | — | $279.4M | ||
| Q1 24 | — | $237.1M |
| Q4 25 | $8.8B | $2.0B | ||
| Q3 25 | $8.9B | $2.0B | ||
| Q2 25 | $9.0B | $1.9B | ||
| Q1 25 | $8.7B | $1.8B | ||
| Q4 24 | $8.8B | $1.7B | ||
| Q3 24 | $9.0B | $1.7B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | $8.9B | $1.6B |
| Q4 25 | $83.9B | $2.9B | ||
| Q3 25 | $83.2B | $2.7B | ||
| Q2 25 | $82.1B | $2.6B | ||
| Q1 25 | $81.5B | $2.5B | ||
| Q4 24 | $82.2B | $2.4B | ||
| Q3 24 | $82.6B | $2.4B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | $81.8B | $2.3B |
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 | $154.7M |
| Free Cash FlowOCF − Capex | $389.0M | $140.3M |
| FCF MarginFCF / Revenue | 43.8% | 22.4% |
| Capex IntensityCapex / Revenue | 0.8% | 2.3% |
| Cash ConversionOCF / Net Profit | 1.52× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $595.0M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $396.0M | $154.7M | ||
| Q3 25 | $-200.0M | $122.4M | ||
| Q2 25 | $83.0M | $69.7M | ||
| Q1 25 | $349.0M | $55.2M | ||
| Q4 24 | $191.0M | $139.5M | ||
| Q3 24 | $389.0M | $90.7M | ||
| Q2 24 | — | $85.3M | ||
| Q1 24 | $838.0M | $45.6M |
| Q4 25 | $389.0M | $140.3M | ||
| Q3 25 | $-208.0M | $110.9M | ||
| Q2 25 | $74.0M | $59.5M | ||
| Q1 25 | $340.0M | $45.6M | ||
| Q4 24 | $174.0M | $127.5M | ||
| Q3 24 | $383.0M | $84.3M | ||
| Q2 24 | — | $78.5M | ||
| Q1 24 | $828.0M | $35.5M |
| Q4 25 | 43.8% | 22.4% | ||
| Q3 25 | -23.4% | 18.1% | ||
| Q2 25 | 8.9% | 9.2% | ||
| Q1 25 | 41.9% | 8.2% | ||
| Q4 24 | 23.9% | 23.6% | ||
| Q3 24 | 46.3% | 15.5% | ||
| Q2 24 | — | 13.1% | ||
| Q1 24 | 101.1% | 6.2% |
| Q4 25 | 0.8% | 2.3% | ||
| Q3 25 | 0.9% | 1.9% | ||
| Q2 25 | 1.1% | 1.6% | ||
| Q1 25 | 1.1% | 1.7% | ||
| Q4 24 | 2.3% | 2.2% | ||
| Q3 24 | 0.7% | 1.2% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | 1.2% | 1.8% |
| Q4 25 | 1.52× | 1.85× | ||
| Q3 25 | -0.76× | 1.49× | ||
| Q2 25 | 0.34× | 0.69× | ||
| Q1 25 | 1.60× | 0.75× | ||
| Q4 24 | 1.15× | 2.07× | ||
| Q3 24 | 1.78× | 1.31× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | 4.36× | 0.63× |
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% |
WTS
Segment breakdown not available.
