PHINIA Inc. (PHIN) 10-Year Financial Performance & Capital Metrics

PHIN • • Industrial / General

Consumer CyclicalAuto Parts & EquipmentPowertrain & Drivetrain SystemsTransmission & Gear Systems

AboutPHINIA Inc. develops and manufactures gasoline and diesel fuel injection components and systems. The company also sells products and services to independent aftermarket customers and original equipment service customers with new and remanufactured products. Its product portfolio includes a range of solutions covering the fuel injection, electronics and engine management, starters and alternators, maintenance, test equipment, and vehicle diagnostics categories. The company was incorporated in 2023 and is based in Auburn Hills, Michigan.Show more

Revenue $3.4B -2.8%
EBITDA $445M -18.6%
Net Income $79M -22.5%
EPS (Diluted) 1.76 -18.9%
Gross Margin 21.33% +7.9%
EBITDA Margin 13.08% -16.3%
Operating Margin 8.38% -22.0%
Net Margin 2.32% -20.3%
ROE 4.57% -21.0%
ROIC 9.46% -17.7%
Debt/Equity 0.66 +44.9%
Interest Coverage 2.88 -57.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Momentum leader: RS Rating 84 (top 16%)
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 4.7% through buybacks
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y1.79%

TTM-0.72%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-19.6%

TTM-15.89%

EPS CAGR

10Y-

5Y-

3Y-18.32%

TTM-4.72%

ROCE

10Y Avg10.2%

5Y Avg10.2%

3Y Avg11.21%

Latest10.01%

Peer Comparison

Transmission & Gear Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PHINPHINIA Inc.	2.7B	70.12	39.84	-2.77%	2.63%	5.67%	7.53%	0.66
BWABorgWarner Inc.	10.4B	48.60	32.40	-0.81%	0.95%	2.18%	6.55%	0.76
GTXGarrett Motion Inc.	3.74B	19.22	15.25	-10.58%	9.22%		8.48%
ALSNAllison Transmission Holdings, Inc.	9.28B	111.55	13.42	6.26%	22.78%	37.97%	7.09%	1.47
GGRGogoro Inc.	45.8M	3.10	-0.34	-11.21%	-46.88%	-99.31%		2.23
WPRTWestport Fuel Systems Inc.	37.5M	2.16	-1.70	-8.89%	-37.88%	-75.62%		0.39
KNDIKandi Technologies Group, Inc.	83.69M	1.02	-1.73	3.21%	-49.1%	-14.35%		0.24
SESSES AI Corporation	693.77M	2.16	-6.97		-490.03%	-39.68%		0.04

Profit & Loss

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.23B	3.35B	3.5B	3.4B
Revenue Growth %	-	0.04%	0.05%	-0.03%
Cost of Goods Sold+	2.55B	2.63B	2.81B	2.68B
COGS % of Revenue	0.79%	0.78%	0.8%	0.79%
Gross Profit+	675M	722M	692M	726M
Gross Margin %	0.21%	0.22%	0.2%	0.21%
Gross Profit Growth %	-	0.07%	-0.04%	0.05%
Operating Expenses+	460M	407M	316M	441M
OpEx % of Revenue	0.14%	0.12%	0.09%	0.13%
Selling, General & Admin	328M	303M	208M	329M
SG&A % of Revenue	0.1%	0.09%	0.06%	0.1%
Research & Development	132M	104M	108M	112M
R&D % of Revenue	0.04%	0.03%	0.03%	0.03%
Other Operating Expenses	0	0	0	0
Operating Income+	215M	315M	376M	285M
Operating Margin %	0.07%	0.09%	0.11%	0.08%
Operating Income Growth %	-	0.47%	0.19%	-0.24%
EBITDA+	419M	485M	547M	445M
EBITDA Margin %	0.13%	0.14%	0.16%	0.13%
EBITDA Growth %	-	0.16%	0.13%	-0.19%
D&A (Non-Cash Add-back)	204M	170M	171M	160M
EBIT	220M	375M	262M	286M
Net Interest Income+	-34M	-14M	-43M	-83M
Interest Income	0	14M	13M	16M
Interest Expense	34M	28M	56M	99M
Other Income/Expense	-29M	32M	-170M	-98M
Pretax Income+	186M	347M	206M	187M
Pretax Margin %	0.06%	0.1%	0.06%	0.05%
Income Tax+	33M	85M	104M	108M
Effective Tax Rate %	0.82%	0.76%	0.5%	0.42%
Net Income+	152M	262M	102M	79M
Net Margin %	0.05%	0.08%	0.03%	0.02%
Net Income Growth %	-	0.72%	-0.61%	-0.23%
Net Income (Continuing)	153M	262M	102M	79M
Discontinued Operations	0	0	0	0
Minority Interest	3M	0	0	0
EPS (Diluted)+	3.23	5.57	2.17	1.76
EPS Growth %	-	0.72%	-0.61%	-0.19%
EPS (Basic)	3.23	5.57	2.17	1.80
Diluted Shares Outstanding	47.01M	47.01M	47M	44.8M
Basic Shares Outstanding	47.01M	47.01M	46.9M	44M
Dividend Payout Ratio	-	-	0.23%	0.56%

Balance Sheet

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.62B	1.64B	1.93B	1.84B
Cash & Short-Term Investments	259M	251M	365M	484M
Cash Only	259M	251M	365M	484M
Short-Term Investments	0	0	0	0
Accounts Receivable	902M	893M	1.02B	817M
Days Sales Outstanding	102.02	97.36	106.16	87.63
Inventory	417M	459M	487M	444M
Days Inventory Outstanding	59.64	63.8	63.3	60.54
Other Current Assets	24M	21M	17M	17M
Total Non-Current Assets+	2.56B	2.43B	2.11B	1.93B
Property, Plant & Equipment	1.06B	1B	984M	897M
Fixed Asset Turnover	3.05x	3.33x	3.56x	3.79x
Goodwill	496M	490M	499M	471M
Intangible Assets	470M	432M	417M	374M
Long-Term Investments	98M	117M	115M	111M
Other Non-Current Assets	257M	233M	38M	31M
Total Assets+	4.18B	4.07B	4.04B	3.77B
Asset Turnover	0.77x	0.82x	0.87x	0.90x
Asset Growth %	-	-0.03%	-0.01%	-0.07%
Total Current Liabilities+	1.17B	1.17B	1.15B	969M
Accounts Payable	455M	500M	639M	522M
Days Payables Outstanding	65.08	69.5	83.06	71.17
Short-Term Debt	139M	112M	106M	42M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K
Other Current Liabilities	430M	416M	257M	257M
Current Ratio	1.38x	1.40x	1.68x	1.90x
Quick Ratio	1.03x	1.01x	1.25x	1.44x
Cash Conversion Cycle	96.59	91.66	86.41	77
Total Non-Current Liabilities+	1.3B	1.26B	1B	1.22B
Long-Term Debt	948M	947M	709M	962M
Capital Lease Obligations	54M	69M	49M	40M
Deferred Tax Liabilities	54M	46M	56M	55M
Other Non-Current Liabilities	240M	199M	179M	150M
Total Liabilities	2.47B	2.43B	2.15B	2.19B
Total Debt+	1.14B	1.13B	864M	1.04B
Net Debt	882M	877M	499M	560M
Debt / Equity	0.67x	0.69x	0.46x	0.66x
Debt / EBITDA	2.72x	2.33x	1.58x	2.35x
Net Debt / EBITDA	2.11x	1.81x	0.91x	1.26x
Interest Coverage	6.32x	11.25x	6.71x	2.88x
Total Equity+	1.71B	1.64B	1.89B	1.57B
Equity Growth %	-	-0.04%	0.15%	-0.17%
Book Value per Share	36.41	34.95	40.15	35.13
Total Shareholders' Equity	1.71B	1.64B	1.89B	1.57B
Common Stock	1.65B	1.73B	1M	1M
Retained Earnings	0	0	9M	44M
Treasury Stock	0	0	-23M	-230M
Accumulated OCI	62M	-88M	-131M	-217M
Minority Interest	3M	0	0	0

Cash Flow

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	147M	303M	250M	308M
Operating CF Margin %	0.05%	0.09%	0.07%	0.09%
Operating CF Growth %	-	1.06%	-0.17%	0.23%
Net Income	153M	262M	102M	79M
Depreciation & Amortization	204M	170M	171M	160M
Stock-Based Compensation	11M	11M	10M	0
Deferred Taxes	-56M	25M	32M	11M
Other Non-Cash Items	63M	8M	-7M	57M
Working Capital Changes	-228M	-173M	-58M	1M
Change in Receivables	17M	-105M	79M	149M
Change in Inventory	-84M	-60M	-4M	23M
Change in Payables	-96M	16M	-95M	-114M
Cash from Investing+	-140M	-105M	-150M	-101M
Capital Expenditures	-146M	-107M	-150M	-105M
CapEx % of Revenue	0.05%	0.03%	0.04%	0.03%
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	0	0	2M	3M
Cash from Financing+	-44M	-185M	20M	-96M
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	0	0	-23M	-44M
Share Repurchases	-	-	-	-
Other Financing	8M	-207M	-1M	-18M
Net Change in Cash	-	-	-	-
Free Cash Flow+	1M	196M	100M	203M
FCF Margin %	0%	0.06%	0.03%	0.06%
FCF Growth %	-	195%	-0.49%	1.03%
FCF per Share	0.02	4.17	2.13	4.53
FCF Conversion (FCF/Net Income)	0.97x	1.16x	2.45x	3.90x
Interest Paid	14M	13M	26M	34M
Taxes Paid	38M	51M	88M	94M

Key Ratios

Metric	2021	2022	2023	2024
Return on Equity (ROE)	8.88%	15.62%	5.78%	4.57%
Return on Invested Capital (ROIC)	6.22%	9.24%	11.5%	9.46%
Gross Margin	20.92%	21.57%	19.77%	21.33%
Net Margin	4.71%	7.83%	2.91%	2.32%
Debt / Equity	0.67x	0.69x	0.46x	0.66x
Interest Coverage	6.32x	11.25x	6.71x	2.88x
FCF Conversion	0.97x	1.16x	2.45x	3.90x
Revenue Growth	-	3.75%	4.54%	-2.77%

Revenue by Segment

	2023	2024
Fuel Systems	2.41B	2.26B
Fuel Systems Growth	-	-5.94%
After Market	1.33B	1.39B
After Market Growth	-	4.82%

Revenue by Geography

	2023	2024
Americas	1.49B	1.46B
Americas Growth	-	-2.02%
Europe	1.43B	1.39B
Europe Growth	-	-2.18%
Asia	587M	551M
Asia Growth	-	-6.13%

Frequently Asked Questions

Valuation & Price

PHINIA Inc. (PHIN) has a price-to-earnings (P/E) ratio of 39.8x. This suggests investors expect higher future growth.

Growth & Financials

PHINIA Inc. (PHIN) reported $3.43B in revenue for fiscal year 2024. This represents a 6% increase from $3.23B in 2021.

PHINIA Inc. (PHIN) saw revenue decline by 2.8% over the past year.

Yes, PHINIA Inc. (PHIN) is profitable, generating $90.0M in net income for fiscal year 2024 (2.3% net margin).

Dividend & Returns

Yes, PHINIA Inc. (PHIN) pays a dividend with a yield of 1.40%. This makes it attractive for income-focused investors.

PHINIA Inc. (PHIN) has a return on equity (ROE) of 4.6%. This is below average, suggesting room for improvement.

PHINIA Inc. (PHIN) generated $243.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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