PHINIA INC. PHIN
PHINIA Inc. (together with its consolidated subsidiaries, the Company or PHINIA) is a Delaware corporation incorporated in 2023. The Company is a leader in the development, design and manufacture of integrated components and systems that are designed to optimize performance, increase efficiency and reduce emissions in combustion and hybrid propulsion for commercial vehicles and industrial applications (medium-duty and heavy-duty trucks, buses and other off-highway construction, marine, agricultural and aerospace and defense), light commercial vehicles (vans and trucks) and light passenger vehicles (passenger cars, mini-vans, cross-overs and sport-utility vehicles). We are a global supplier to most major original equipment manufacturers (OEMs) seeking to meet and exceed increasingly stringent global regulatory requirements and satisfy consumer demands for an enhanced user experience. Additionally, we offer a wide range of original equipment service (OES) solutions and remanufactured products as well as an expanded range of products for the independent (non-OEM) aftermarket (IAM).
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $3.48B | $3.40B | $3.50B | $3.35B | $3.23B | — |
| Cost of revenue | $2.72B | $2.65B | $2.78B | $2.63B | $2.55B | — |
| Gross profit | $762.0M | $756.0M | $724.0M | $721.0M | $676.0M | — |
| R&D | $105.0M | $112.0M | $108.0M | $104.0M | $132.0M | — |
| SG&A | $445.0M | $442.0M | $413.0M | $407.0M | $460.0M | — |
| Operating income | $254.0M | $259.0M | $241.0M | $318.0M | $174.0M | — |
| Interest expense | $59.0M | $34.0M | $26.0M | $13.0M | — | — |
| Pre-tax income | $198.0M | $187.0M | $206.0M | $347.0M | $186.0M | — |
| Income tax | $68.0M | $108.0M | $104.0M | $85.0M | $33.0M | — |
| Net income | $130.0M | $79.0M | $102.0M | $262.0M | $152.0M | — |
| EPS, basic | 3.31 | 1.80 | 2.17 | 5.57 | 3.23 | — |
| EPS, diluted | 3.24 | 1.76 | 2.17 | 5.57 | 3.23 | — |
| Shares, diluted (wtd. avg.) | $40.1M | $44.8M | $47.0M | $47.0M | $47.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $359.0M | $484.0M | $365.0M | $251.0M | $259.0M | $292.0M |
| Receivables | $804.0M | $817.0M | $1.02B | $891.0M | — | — |
| Inventory | $473.0M | $444.0M | $487.0M | $459.0M | — | — |
| Total current assets | $1.76B | $1.84B | $1.93B | $1.64B | — | — |
| Property, plant and equipment | $876.0M | $843.0M | $921.0M | $924.0M | — | — |
| Goodwill | $509.0M | $471.0M | $499.0M | $490.0M | — | — |
| Other intangibles | $398.0M | $374.0M | $417.0M | $432.0M | — | — |
| Total assets | $3.82B | $3.77B | $4.04B | $4.07B | $4.18B | — |
| Accounts payable | $510.0M | $522.0M | $639.0M | $686.0M | — | — |
| Short-term debt | $1.0M | $25.0M | $14.0M | — | — | — |
| Total current liabilities | $947.0M | $969.0M | $1.15B | $1.17B | — | — |
| Long-term debt | $967.0M | $963.0M | $709.0M | $26.0M | — | — |
| Total liabilities | $2.23B | $2.19B | $2.15B | $2.43B | — | — |
| Retained earnings | $132.0M | $44.0M | $9.0M | — | — | — |
| Total equity | $1.59B | $1.57B | $1.89B | $1.64B | $1.71B | $648.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $312.0M | $308.0M | $250.0M | $303.0M | $147.0M | — |
| Depreciation and amortisation | $157.0M | $160.0M | $170.0M | $170.0M | $204.0M | — |
| Stock-based compensation | $18.0M | $14.0M | $10.0M | $11.0M | $11.0M | — |
| Capital expenditure | $124.0M | $105.0M | $150.0M | $107.0M | $146.0M | — |
| Investing cash flow | -$132.0M | -$101.0M | -$150.0M | -$105.0M | -$140.0M | — |
| Financing cash flow | -$310.0M | -$96.0M | $20.0M | -$185.0M | -$44.0M | — |
| Dividends paid | $42.0M | $44.0M | $23.0M | — | — | — |
| Buybacks | $200.0M | $212.0M | $24.0M | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001968915-26-000061.
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