DDM Analysis: FHN

Valuation Snapshot

Stable Growth	$45.83 - $149.01	$74.28
Multi-Stage	$30.10 - $32.88	$31.47
Blended Fair Value	$52.87
Current Price	$22.61
Upside	133.86%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	14.19%	21.50%	0.64	0.64	0.62	0.64	0.43	0.33	0.27	0.15	0.12	0.10
YoY Growth	-	-	-0.90%	3.40%	-2.70%	50.00%	29.82%	23.02%	73.96%	25.83%	17.72%	13.89%
Dividend Yield	-	-	3.29%	4.30%	3.50%	2.72%	2.52%	4.08%	1.85%	0.82%	0.66%	0.79%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	886.00
(-) Cash Dividends Paid (M)	305.00
(=) Cash Retained (M)	581.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	177.20	110.75	66.45
Cash Retained (M)	581.00	581.00	581.00
(-) Cash Required (M)	-177.20	-110.75	-66.45
(=) Excess Retained (M)	403.80	470.25	514.55
(/) Shares Outstanding (M)	520.25	520.25	520.25
(=) Excess Retained per Share	0.78	0.90	0.99
LTM Dividend per Share	0.59	0.59	0.59
(+) Excess Retained per Share	0.78	0.90	0.99
(=) Adjusted Dividend	1.36	1.49	1.58
WACC / Discount Rate	8.64%	8.64%	8.64%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$45.83	$74.28	$149.01
Upside / Downside	102.68%	228.53%	559.02%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	886.00	943.59	1,004.92	1,070.24	1,139.81	1,213.90	1,250.31
Payout Ratio	34.42%	45.54%	56.65%	67.77%	78.88%	90.00%	92.50%
Projected Dividends (M)	305.00	429.71	569.34	725.30	899.14	1,092.51	1,156.54

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	8.64%	8.64%	8.64%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	391.83	395.54	399.26
Year 2 PV (M)	473.39	482.41	491.51
Year 3 PV (M)	549.92	565.71	581.79
Year 4 PV (M)	621.63	645.54	670.13
Year 5 PV (M)	688.75	722.01	756.55
PV of Terminal Value (M)	12,935.60	13,560.39	14,209.10
Equity Value (M)	15,661.12	16,371.61	17,108.34
Shares Outstanding (M)	520.25	520.25	520.25
Fair Value	$30.10	$31.47	$32.88
Upside / Downside	33.14%	39.18%	45.44%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 63 of 151 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
112610.KS	CS Wind Corporation	2.43%	$982.89	21.73%
300452.SZ	Anhui Sunhere Pharmaceutical Excipients Co.,Ltd.	2.43%	$0.33	58.46%
603599.SS	Anhui Guangxin Agrochemical Co., Ltd.	2.43%	$0.28	35.02%
605286.SS	Jiangsu Tongli Risheng Machinery Co., Ltd.	2.43%	$0.99	75.51%
9569.SR	Almuneef Company for Trade, Industry, Agriculture and Contracting	2.43%	$0.20	19.26%
ALV	Autoliv, Inc.	2.43%	$2.97	30.32%
KEPEN.AT	Flour Mills Kepenos S.A.	2.43%	$0.05	39.82%
MSAB-B.ST	Micro Systemation AB (publ)	2.43%	$1.50	65.33%
NEOE3.SA	Neoenergia S.A.	2.43%	$0.77	21.26%
OV8.SI	Sheng Siong Group Ltd	2.43%	$0.06	66.54%
VIL.PA	VIEL & Cie, S.A.	2.43%	$0.40	12.44%
002236.SZ	Zhejiang Dahua Technology Co., Ltd.	2.42%	$0.46	38.43%
006730.KQ	Seobu T&D Co., Ltd.	2.42%	$309.73	27.66%
071050.KS	Korea Investment Holdings Co., Ltd.	2.42%	$3,984.93	13.09%
0DQK.L	Beter Bed Holding N.V.	2.42%	$0.15	53.98%
2409.TW	AUO Corporation	2.42%	$0.31	41.22%
300453.SZ	Jiangxi Sanxin Medtec Co.,Ltd.	2.42%	$0.21	45.08%
600064.SS	Nanjing Gaoke Company Limited	2.42%	$0.21	15.60%
601236.SS	Hongta Securities Co., Ltd.	2.42%	$0.20	95.69%
9550.SR	Sure Global Tech Company	2.42%	$1.52	28.67%
9562.SR	Foods Gate Trading Co.	2.42%	$0.67	13.40%
AEONTS-R.BK	AEON Thana Sinsap (Thailand) Public Company Limited	2.42%	$2.60	21.04%
NMAN.ST	Nederman Holding AB (publ)	2.42%	$4.00	47.45%
SALIK.AE	Salik Company P.J.S.C.	2.42%	$0.16	83.74%
SKMO.ST	Skåne-möllan AB (publ)	2.42%	$1.40	96.86%
001130.KS	Daehan Flour Mills Co.,Ltd	2.41%	$3,470.92	10.83%
080160.KQ	Modetour Network Inc.	2.41%	$249.37	24.80%
0U96.L	Everest Re Group, Ltd.	2.41%	$8.07	61.23%
3591.T	Wacoal Holdings Corp.	2.41%	$106.27	49.77%
601966.SS	Shandong Linglong Tyre Co.,Ltd.	2.41%	$0.35	42.43%
7951.T	Yamaha Corporation	2.41%	$26.35	66.95%
BORG.ST	Björn Borg AB (publ)	2.41%	$1.50	43.49%
EIOF.OL	Eidesvik Offshore ASA	2.41%	$0.30	28.32%
ETTE.HE	Etteplan Oyj	2.41%	$0.23	71.21%
ZZ-B.ST	Zinzino AB (publ)	2.41%	$3.76	58.64%
002968.SZ	New Dazheng Property Group Co., Ltd.	2.40%	$0.29	59.28%
0NZN.L	Robertet S.A.	2.40%	$21.10	23.60%
4015.SR	Jamjoom Pharmaceuticals Factory Company	2.40%	$3.46	54.14%
7703.TWO	Rayzher	2.40%	$5.49	59.71%
BBL.AX	Brisbane Broncos Limited	2.40%	$0.04	25.15%
002158.SZ	Shanghai Hanbell Precise Machinery Co., Ltd.	2.39%	$0.60	60.14%
004690.KS	Samchully Co.,Ltd	2.39%	$3,000.02	10.30%
0GVS.L	Catena AB (publ)	2.39%	$8.76	32.84%
300577.SZ	Anhui Korrun Co., Ltd.	2.39%	$0.51	36.22%
3044.TW	Tripod Technology Corporation	2.39%	$7.48	42.14%
603080.SS	Xinjiang Torch Gas Co., Ltd	2.39%	$0.57	43.55%
6780.TWO	Study King Co., Ltd.	2.39%	$0.80	89.60%
6804.T	Hosiden Corporation	2.39%	$59.44	25.81%
KBLM.JK	PT Kabelindo Murni Tbk	2.39%	$8.08	12.05%
SCANFL.HE	Scanfil Oyj	2.39%	$0.24	42.33%

Financial Statements

Periods / Units / Analysis

Fundamentals

Valuations

Mode

Miscellaneous

Ticker

Industry

Sector

First Horizon Corporation (FHN)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener