• First Horizon average pre-tax profit margin for 2023 was 28.34%, a 19.6% decline from 2022.
• First Horizon average pre-tax profit margin for 2022 was 35.25%, a 6.67% decline from 2021.
• First Horizon average pre-tax profit margin for 2021 was 37.77%, a 65.37% decline from 2020.

Pre-tax profit margin can be defined as earnings before taxes as a portion of total revenue.