The Filing Desk

First Horizon vs Western Alliance Bancorporation

First Horizon FHN · Western Alliance Bancorporation WAL · Regional Banks

Western Alliance Bancorporation reported revenue of $3.5 billion in fiscal 2025, about the same as First Horizon's $3.4 billion in fiscal 2025. First Horizon's revenue grew 7.2% in its latest year, and Western Alliance Bancorporation's grew 12.1%. First Horizon had a return on equity of 11.1%, against 13.5% at Western Alliance Bancorporation.

Side by side

First HorizonWestern Alliance Bancorporation
Latest fiscal yearFY2025, Dec 31, 2025FY2025, Dec 31, 2025
Revenue$3.4B$3.5B
Revenue growth7.2%12.1%
Revenue growth a year, last 5 years1.6%23.4%
Net income$982M$969M
Return on equity11.1%13.5%
Return on tangible common equity14.0%15.0%
Efficiency ratio60.7%59.6%
Dividends and buybacks$1.2B$68M
Change in diluted share count−6.1%0.2%
Last close$23.43$75.44
P/E at the last close11.3×8.5×
Insider trades, last 12 monthssold $6.1 millionbought $308,000, sold $5.9 million
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.

Ten years

Revenue
US$ billions, fiscal years
First HorizonWestern Alliance Bancorporation
Return on equity
Percent. Net income over average equity.
First HorizonWestern Alliance Bancorporation
Net income
US$ billions
First HorizonWestern Alliance Bancorporation

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Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the First Horizon and Western Alliance Bancorporation pages.