PHINIA Inc. engages in the development, design, and manufacture of integrated components and systems. The company operates through Fuel Systems and Aftermarket segments. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules. This segment also offers complete systems comprising software and calibration services that reduce emissions and enhance fuel economy for traditional and hybrid applications. The Aftermarket segment engages in the provision of maintenance, test equipment, and vehicle diagnostics solutions; original equipment service solutions and remanufactured products; and sale of sale of starters and alternators to original equipment manufacturers. Its products are used for commercial vehicles and industrial applications, such as medium-duty and heavy-duty trucks, buses and other off-highway construction, marine, agricultural and aerospace and defense applications; light commercial vehicles comprising vans and trucks; and light passenger vehicles, including passenger cars, mini-vans, cross-overs and sport-utility vehicles. PHINIA Inc. was incorporated in 2023 and is based in Auburn Hills, Michigan.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.5B | $436M | $130M | $188M | 8.2% | 2.4% | 64.6% |
| 2024 | $3.4B | $446M | $79M | $203M | 5.0% | -2.8% | -22.5% |
| 2023 | $3.5B | $433M | $102M | $100M | 5.4% | 4.5% | -61.1% |
| 2022 | $3.3B | $537M | $262M | $196M | 15.9% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,348 | 3,500 | 3,403 | 3,483 |
| Cost Of Revenue | - | 2,627 | 2,776 | 2,647 | 2,721 |
| Gross Profit | - | 721 | 724 | 756 | 762 |
| Operating Expense | - | 354 | 388 | 438 | 441 |
| Operating Income | - | 367 | 336 | 318 | 321 |
| EBITDA | - | 537 | 433 | 446 | 436 |
| EBIT | - | 367 | 262 | 286 | 279 |
| Pretax Income | - | 347 | 206 | 187 | 198 |
| Tax Provision | - | 85 | 104 | 108 | 68 |
| Net Income | - | 262 | 102 | 79 | 130 |
| Net Income Common Stockholders | - | 262 | 102 | 79 | 130 |
| Total Expenses | - | 2,981 | 3,164 | 3,085 | 3,162 |
| Interest Expense | - | 20 | 56 | 99 | 81 |
| Interest Income | - | 6 | 13 | 16 | 14 |
| Research And Development | - | -11 | -2 | 0 | 0 |
| Selling General And Administration | - | 407 | 413 | 442 | 445 |
| Normalized EBITDA | - | 586 | 528 | 505 | 503 |
| Normalized Income | - | 299 | 177.05 | 125.61 | 174.02 |
| Market Cap | 2,793.97 | 2,793.97 | 2,793.97 | 2,793.97 | 2,793.97 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| PHINIA Inc.this co. | PHIN | $2.9B | 21.49β premium | 1.76 | 8.2% | 7.92 |
| Red Rock Resorts, Inc. | RRR | $3.2B | 16.81 | 15.18 | 90.3% | 8.06 |
| Patrick Industries, Inc. | PATK | $3.2B | 23.89 | 2.72 | 11.4% | 11.13 |
| American Eagle Outfitters, Inc. | AEO | $3.1B | 15.55 | 1.76 | 11.3% | 8.08 |
| LCI Industries | LCII | $3.0B | 15.48 |
| - |
| - |
| - |
| - |
| 2.14 |
| 13.8% |
| 9.53 |
| The Buckle, Inc. | BKE | $2.8B | 13.79 | 6.81 | 49.4% | 10.55 |
| Steven Madden, Ltd. | SHOO | $2.7B | 63.10 | 3.25 | 5.2% | 25.85 |
| OneSpaWorld Holdings Limited | OSW | $2.5B | 34.20 | 4.51 | 13.2% | 23.59 |
| Versigent PLC | VGNT | $2.5B | 5.04 | 1.50 | 29.8% | 2.76 |
| Peer Median | - | 16.18 | 2.99 | 13.5% | 10.04 | |