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PHIN

PHINIA Inc.

PHIN

PHINIA Inc. • NYSE
$54.09 ▼ -0.24% (-0.13)
Market Cap $2.08 B
52w High $59.88
52w Low $36.25
Dividend Yield 1.08%
P/E 24.26
Volume 148.32K
Outstanding Shares 38.44M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $908M ▲ $109M ▲ $13M ▼ 1.432% ▼ $0.34 ▼ $60M ▼
Q2-2025 $890M ▲ $106M ▲ $46M ▲ 5.169% ▲ $1.16 ▲ $135M ▲
Q1-2025 $796M ▼ $101M ▼ $26M ▲ 3.266% ▲ $0.64 ▲ $106M ▲
Q4-2024 $833M ▼ $110M ▲ $5M ▼ 0.6% ▼ $0.12 ▼ $98M ▼
Q3-2024 $839M $101M $31M 3.695% $0.72 $113M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $349M ▲ $3.987B ▲ $2.401B ▲ $1.586B ▼
Q2-2025 $347M ▼ $3.894B ▲ $2.267B ▲ $1.627B ▲
Q1-2025 $373M ▼ $3.748B ▼ $2.211B ▲ $1.537B ▼
Q4-2024 $484M ▲ $3.768B ▼ $2.187B ▼ $1.574B ▼
Q3-2024 $477M $4.024B $2.32B $1.704B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $13M ▲ $119M ▲ $-35M ▼ $-76M ▼ $2M ▲ $93M ▲
Q2-2025 $0 ▼ $57M ▲ $-33M ▲ $-52M ▲ $-26M ▲ $92M ▲
Q1-2025 $26M ▲ $40M ▼ $-35M ▼ $-117M ▼ $-111M ▼ $5M ▼
Q4-2024 $5M ▼ $73M ▼ $-17M ▲ $-35M ▼ $7M ▼ $53M ▼
Q3-2024 $31M $95M $-25M $65M $138M $70M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
After Market
After Market
 $340.00M ▲$320.00M ▼$350.00M ▲$360.00M ▲
Fuel Systems
Fuel Systems
 $550.00M ▲$470.00M ▼$540.00M ▲$550.00M ▲

Five-Year Company Overview

Income Statement

Income Statement PHINIA shows a business that is steady rather than fast‑growing. Sales have been broadly flat over the last few years, with only small ups and downs, which is typical for a mature auto‑parts supplier. Profitability is solid: gross margins are healthy, and operating profit has been consistently positive and improving versus the early pandemic period. Net income, however, is more volatile and has come down from a particularly strong year a few years ago, suggesting some pressure from interest, taxes, or one‑time items. Overall, the income statement reflects a stable, profitable industrial company, but not one on a clear high‑growth trajectory, and earnings can swing from year to year.

Balance Sheet

Balance Sheet The balance sheet looks reasonably balanced, with a mix of debt and equity that is typical for an established manufacturing business. Total assets have edged down slightly, which may reflect disciplined capital use or some portfolio reshaping after the spin‑off. Cash on hand has grown, giving the company more financial flexibility and a bit of a safety cushion. Debt has risen compared with the prior year but not in an alarming way, and equity has stepped down somewhat, which could be linked to separation costs or shareholder returns. Overall, leverage appears manageable, but the company does rely meaningfully on borrowed money, so interest costs and refinancing conditions matter.

Cash Flow

Cash Flow Cash generation is a relative bright spot. Operating cash flow has been positive and has gradually strengthened, indicating that the underlying business converts a decent share of its profits into cash. Free cash flow has improved from weak or negative levels during the pandemic period to consistently positive territory, even after funding ongoing investments in plants and equipment. Capital spending is steady but not excessive, suggesting a focus on maintaining and selectively upgrading capacity rather than large, risky expansion. This pattern supports PHINIA’s ability to fund its own R&D and debt service, although it leaves limited room for aggressive expansion without additional financing.

Competitive Edge

Competitive Edge PHINIA occupies a specialized and somewhat contrarian niche. While many suppliers are racing toward electric‑vehicle components, PHINIA is focused on squeezing more efficiency and lower emissions from traditional combustion engines and related fuel and electrical systems. Its strengths include long‑standing relationships with major automakers, well‑known brands such as Delphi and Delco Remy, and a sizable aftermarket business that tends to be more stable than new‑vehicle production. The company also benefits from deep technical know‑how and remanufacturing capabilities that make it hard for customers to switch. The main strategic risk is that the industry’s long‑term shift toward electrification could gradually shrink its core market, so PHINIA’s success depends on how slowly that shift happens in commercial, off‑highway, and emerging markets, and how well it can grow share as others exit combustion‑related segments.

Innovation and R&D

Innovation and R&D PHINIA is leaning heavily into innovation around combustion and alternative fuels rather than pure battery electrification. It has rapidly built a large patent base since the spin‑off, showing an active R&D engine. Key focus areas include high‑efficiency fuel injection systems, hydrogen combustion technology, and adapting its systems to work with fuels like ethanol, methanol, natural gas, and eventually hydrogen. Its Hartridge brand also gives it a strong position in specialized test equipment, which reinforces its technical credibility and aftermarket reach. The opportunity is to become a go‑to partner for lower‑carbon combustion solutions in trucks, off‑highway equipment, and regions where full electrification will be slow. The risk is that some of these technologies may take longer to commercialize or may not be adopted at scale, so the payoff on R&D spending is uncertain and depends heavily on how regulations and customer preferences evolve.

Summary

PHINIA is a recently spun‑off, established auto‑parts supplier with a clear identity: a profitable, cash‑generating combustion and fuel‑systems specialist that is swimming against the industry tide toward full electrification. Financially, it shows stable revenue, solid margins, improving cash flow, and a balance sheet that mixes meaningful but manageable debt with a growing cash reserve. Strategically, its competitive edge rests on strong brands, deep OEM and aftermarket relationships, and a deliberate focus on combustion engines and alternative fuels for markets that are slower to electrify. Its R&D bets on hydrogen and other low‑carbon fuels could open new growth avenues if these technologies gain traction, but they also introduce uncertainty if the world moves faster or more decisively toward battery‑electric solutions. Overall, PHINIA looks like a disciplined, innovation‑driven industrial business with a defined niche and clear strengths, but whose long‑term outlook is tightly tied to the pace and shape of the global energy transition in transport and heavy equipment.

NEWS

November 12, 2025 · 8:00 AM UTC

PHINIA to Participate in the UBS Global Industrials & Transportation Conference

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November 6, 2025 · 8:00 AM UTC

PHINIA Debuts Expanded Technology Portfolio for Off-Highway Customers at Agritechnica

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October 30, 2025 · 4:30 PM UTC

PHINIA Board Declares Quarterly Dividend of $0.27 per Common Share

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October 29, 2025 · 4:30 PM UTC

PHINIA to Participate in the Baird 2025 Global Industrial Conference

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October 28, 2025 · 7:30 AM UTC

PHINIA Reports Third Quarter 2025 Results

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