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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 |
| Operating 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 |
| Research And Development | - | -11 | -2 | 0 | 0 |
| Selling General And Administration | - | 407 | 413 | 442 | 445 |
| Total Expenses | - | 2,981 | 3,164 | 3,085 | 3,162 |
| Operating Income | - | 367 | 336 | 318 | 321 |
| Total Operating Income As Reported | - | 318 | 241 | 259 | 254 |
| EBITDA | - | 537 | 433 | 446 | 436 |
| Normalized EBITDA | - | 586 | 528 | 505 | 503 |
| EBIT | - | 367 | 262 | 286 | 279 |
| Interest Income | - | 6 | 13 | 16 | 14 |
| Interest Expense | - | 20 | 56 | 99 | 81 |
| Net Interest Income | - | -14 | -43 | -83 | -67 |
| Other Non Operating Income Expenses | 39 | 32 | -2 | - | -4 |
| Other Income Expense | - | -6 | -87 | -48 | -56 |
| Interest Income Non Operating | - | 6 | 13 | 16 | 14 |
| Interest Expense Non Operating | - | 20 | 56 | 99 | 81 |
| Net Non Operating Interest Income Expense | - | -14 | -43 | -83 | -67 |
| Pretax Income | - | 347 | 206 | 187 | 198 |
| Tax Provision | - | 85 | 104 | 108 | 68 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -12 | -19.95 | -12.39 | -22.98 |
| Net Income Continuous Operations | - | 262 | 102 | 79 | 130 |
| Net Income From Continuing And Discontinued Operation | - | 262 | 102 | 79 | 130 |
| Net Income From Continuing Operation Net Minority Interest | - | 262 | 102 | 79 | 130 |
| Net Income | - | 262 | 102 | 79 | 130 |
| Net Income Common Stockholders | - | 262 | 102 | 79 | 130 |
| Net Income Including Noncontrolling Interests | - | 262 | 102 | 79 | 130 |
| Normalized Income | - | 299 | 177.05 | 125.61 | 174.02 |
| Diluted NI Availto Com Stockholders | - | 262 | 102 | 79 | 130 |
| Basic Average Shares | - | 46.60 | 46.16 | 41.64 | 39.30 |
| Diluted Average Shares | - | 46.60 | 47 | 44.80 | 40.10 |
| Reconciled Depreciation | - | 170 | 171 | 160 | 157 |
| Reconciled Cost Of Revenue | - | 2,627 | 2,776 | 2,647 | 2,721 |
| Total Unusual Items | - | -49 | -95 | -59 | -67 |
| Total Unusual Items Excluding Goodwill | - | -49 | -95 | -59 | -67 |
| Minority Interests | -1 | 0 | 0 | - | - |
| Special Income Charges | - | -49 | -95 | -59 | -67 |
| Other Special Charges | - | 2 | 3 | -7 | -2 |
| Write Off | - | 5 | 0 | 21 | 0 |
| Impairment Of Capital Assets | 0 | 0 | - | - | - |
| Restructuring And Mergern Acquisition | - | 42 | 92 | 45 | 69 |
| General And Administrative Expense | 421 | 375 | 415 | - | - |
| Other Gand A | 460 | 407 | 413 | - | - |
| Salaries And Wages | -39 | -32 | 2 | - | - |
| Other Operating Expenses | - | -42 | -23 | -4 | -4 |
| Earnings From Equity Interest | - | 11 | 10 | 11 | 15 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| PHINIA Inc.this co. | PHIN | $3.0B | 23.42↑ premium | 1.92 | 8.2% | 8.50 |
| Advance Auto Parts, Inc. | AAP | $3.4B | 76.63 | 1.53 | 2.0% | 17.10 |
| Academy Sports and Outdoors, Inc. | ASO | $3.3B | 8.75 | 1.52 | 17.4% | 7.53 |
| Steven Madden, Ltd. | SHOO | $3.2B | 72.72 | 3.75 | 5.2% | 29.33 |
| The Cheesecake Factory Incorporated | CAKE | $3.2B |
| - |
| - |
| - |
| - |
| 21.37 |
| 7.27 |
| 34.0% |
| 18.01 |
| Green Brick Partners, Inc. | GRBK | $3.0B | 9.55 | 1.65 | 17.3% | 7.63 |
| Marriott Vacations Worldwide Corporation | VAC | $3.0B | - | 1.50 | -15.5% | 434.60 |
| Patrick Industries, Inc. | PATK | $2.8B | 20.96 | 2.39 | 11.4% | 10.19 |
| American Eagle Outfitters, Inc. | AEO | $2.8B | 14.54 | 1.65 | 11.3% | 7.73 |
| Peer Median | - | 20.96 | 1.65 | 11.4% | 13.65 | |