vs
Side-by-side financial comparison of FIRST HORIZON CORP (FHN) and ZILLOW GROUP, INC. (ZG). Click either name above to swap in a different company.
FIRST HORIZON CORP is the larger business by last-quarter revenue ($888.0M vs $654.0M, roughly 1.4× ZILLOW GROUP, INC.). FIRST HORIZON CORP runs the higher net margin — 29.4% vs 0.5%, a 28.9% gap on every dollar of revenue. On growth, FIRST HORIZON CORP posted the faster year-over-year revenue change (21.8% vs 18.1%). FIRST HORIZON CORP produced more free cash flow last quarter ($389.0M vs $44.0M). Over the past eight quarters, FIRST HORIZON CORP's revenue compounded faster (20.0% CAGR vs 11.2%).
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.
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 by co-executive chairmen Rich Barton and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current technology leadership advisor.
FHN vs ZG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $888.0M | $654.0M |
| Net Profit | $261.0M | $3.0M |
| Gross Margin | — | 72.8% |
| Operating Margin | 38.5% | -1.7% |
| Net Margin | 29.4% | 0.5% |
| Revenue YoY | 21.8% | 18.1% |
| Net Profit YoY | 57.2% | 105.8% |
| EPS (diluted) | $0.51 | $0.01 |
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 | $654.0M | ||
| Q3 25 | $889.0M | $676.0M | ||
| Q2 25 | $830.0M | $655.0M | ||
| Q1 25 | $812.0M | $598.0M | ||
| Q4 24 | $729.0M | $554.0M | ||
| Q3 24 | $827.0M | $581.0M | ||
| Q2 24 | — | $572.0M | ||
| Q1 24 | $819.0M | $529.0M |
| Q4 25 | $261.0M | $3.0M | ||
| Q3 25 | $262.0M | $10.0M | ||
| Q2 25 | $241.0M | $2.0M | ||
| Q1 25 | $218.0M | $8.0M | ||
| Q4 24 | $166.0M | $-52.0M | ||
| Q3 24 | $218.0M | $-20.0M | ||
| Q2 24 | — | $-17.0M | ||
| Q1 24 | $192.0M | $-23.0M |
| Q4 25 | — | 72.8% | ||
| Q3 25 | — | 72.6% | ||
| Q2 25 | — | 74.7% | ||
| Q1 25 | — | 76.8% | ||
| Q4 24 | — | 75.8% | ||
| Q3 24 | — | 75.9% | ||
| Q2 24 | — | 77.3% | ||
| Q1 24 | — | 76.7% |
| Q4 25 | 38.5% | -1.7% | ||
| Q3 25 | 38.7% | -0.4% | ||
| Q2 25 | 37.2% | -1.7% | ||
| Q1 25 | 35.1% | -1.5% | ||
| Q4 24 | 28.8% | -12.5% | ||
| Q3 24 | 34.0% | -7.7% | ||
| Q2 24 | — | -6.6% | ||
| Q1 24 | 31.0% | -8.5% |
| Q4 25 | 29.4% | 0.5% | ||
| Q3 25 | 29.5% | 1.5% | ||
| Q2 25 | 29.0% | 0.3% | ||
| Q1 25 | 26.8% | 1.3% | ||
| Q4 24 | 22.8% | -9.4% | ||
| Q3 24 | 26.4% | -3.4% | ||
| Q2 24 | — | -3.0% | ||
| Q1 24 | 23.4% | -4.3% |
| Q4 25 | $0.51 | $0.01 | ||
| Q3 25 | $0.50 | $0.04 | ||
| Q2 25 | $0.45 | $0.01 | ||
| Q1 25 | $0.41 | $0.03 | ||
| Q4 24 | $0.29 | $-0.23 | ||
| Q3 24 | $0.40 | $-0.08 | ||
| Q2 24 | — | $-0.07 | ||
| Q1 24 | $0.33 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $768.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $8.8B | $4.9B |
| Total Assets | $83.9B | $5.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $768.0M | ||
| Q3 25 | — | $874.0M | ||
| Q2 25 | — | $587.0M | ||
| Q1 25 | — | $914.0M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | $8.8B | $4.9B | ||
| Q3 25 | $8.9B | $5.0B | ||
| Q2 25 | $9.0B | $4.7B | ||
| Q1 25 | $8.7B | $4.8B | ||
| Q4 24 | $8.8B | $4.8B | ||
| Q3 24 | $9.0B | $4.7B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | $8.9B | $4.7B |
| Q4 25 | $83.9B | $5.7B | ||
| Q3 25 | $83.2B | $5.7B | ||
| Q2 25 | $82.1B | $5.4B | ||
| Q1 25 | $81.5B | $5.7B | ||
| Q4 24 | $82.2B | $5.8B | ||
| Q3 24 | $82.6B | $6.2B | ||
| Q2 24 | — | $6.6B | ||
| Q1 24 | $81.8B | $6.8B |
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 | $72.0M |
| Free Cash FlowOCF − Capex | $389.0M | $44.0M |
| FCF MarginFCF / Revenue | 43.8% | 6.7% |
| Capex IntensityCapex / Revenue | 0.8% | 4.3% |
| Cash ConversionOCF / Net Profit | 1.52× | 24.00× |
| TTM Free Cash FlowTrailing 4 quarters | $595.0M | $235.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $396.0M | $72.0M | ||
| Q3 25 | $-200.0M | $105.0M | ||
| Q2 25 | $83.0M | $87.0M | ||
| Q1 25 | $349.0M | $104.0M | ||
| Q4 24 | $191.0M | $122.0M | ||
| Q3 24 | $389.0M | $171.0M | ||
| Q2 24 | — | $55.0M | ||
| Q1 24 | $838.0M | $80.0M |
| Q4 25 | $389.0M | $44.0M | ||
| Q3 25 | $-208.0M | $73.0M | ||
| Q2 25 | $74.0M | $50.0M | ||
| Q1 25 | $340.0M | $68.0M | ||
| Q4 24 | $174.0M | $88.0M | ||
| Q3 24 | $383.0M | $138.0M | ||
| Q2 24 | — | $18.0M | ||
| Q1 24 | $828.0M | $41.0M |
| Q4 25 | 43.8% | 6.7% | ||
| Q3 25 | -23.4% | 10.8% | ||
| Q2 25 | 8.9% | 7.6% | ||
| Q1 25 | 41.9% | 11.4% | ||
| Q4 24 | 23.9% | 15.9% | ||
| Q3 24 | 46.3% | 23.8% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | 101.1% | 7.8% |
| Q4 25 | 0.8% | 4.3% | ||
| Q3 25 | 0.9% | 4.7% | ||
| Q2 25 | 1.1% | 5.6% | ||
| Q1 25 | 1.1% | 6.0% | ||
| Q4 24 | 2.3% | 6.1% | ||
| Q3 24 | 0.7% | 5.7% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | 1.2% | 7.4% |
| Q4 25 | 1.52× | 24.00× | ||
| Q3 25 | -0.76× | 10.50× | ||
| Q2 25 | 0.34× | 43.50× | ||
| Q1 25 | 1.60× | 13.00× | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 1.78× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 4.36× | — |
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% |
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
