The company maintains a conservative financial position with a debt-to-equity ratio of 0.64 and a current ratio consistently above 1.68, providing a buffer against industry-wide volatility.
| Total Current Assets | 1.77B | 1.76B | 1.84B | 1.93B | 1.64B | 1.62B |
| Cash & Short-Term Investments | 328M | 359M | 484M | 365M | 251M | 259M |
| Cash Only | 328M | 359M | 484M | 365M | 251M | 259M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 818M | 804M | 817M | 1.02B | 893M | 902M |
| Days Sales Outstanding | 87.67 | 84.25 | 87.63 | 106.16 | 97.36 | 102.02 |
| Inventory | 489M | 473M | 444M | 487M | 459M | 417M |
| Days Inventory Outstanding | 64.84 | 62.64 | 60.54 | 63.3 | 63.8 | 59.64 |
| Other Current Assets | 135M | 126M | 17M | 17M | 21M | 24M |
| Total Non-Current Assets | 2.03B | 2.06B | 1.93B | 2.11B | 2.43B | 2.56B |
| Property, Plant & Equipment | 854M | 876M | 897M | 984M | 1B | 1.06B |
| Fixed Asset Turnover | 4.06x | 3.98x | 3.79x | 3.56x | 3.33x | 3.05x |
| Goodwill | 510M | 509M | 471M | 499M | 490M | 496M |
| Intangible Assets | 387M | 398M | 374M | 417M | 432M | 470M |
| Long-Term Investments | 332M | 145M | 111M | 115M | 117M | 98M |
| Other Non-Current Assets | 280M | 127M | 31M | 38M | 233M | 257M |
| Total Assets | 3.8B | 3.82B | 3.77B | 4.04B | 4.07B | 4.18B |
| Asset Turnover | 0.92x | 0.91x | 0.90x | 0.87x | 0.82x | 0.77x |
| Asset Growth % | 2.34% | 1.3% | -6.76% | -0.81% | -2.58% | - |
| Total Current Liabilities | 970M | 947M | 969M | 1.15B | 1.17B | 1.17B |
| Accounts Payable | 525M | 510M | 522M | 639M | 500M | 455M |
| Days Payables Outstanding | 72.9 | 67.54 | 71.17 | 83.06 | 69.5 | 65.08 |
| Short-Term Debt | 24M | 3M | 42M | 106M | 112M | 139M |
| Deferred Revenue (Current) | 23M | 0 | 3M | 6M | 17M | 26M |
| Other Current Liabilities | 421M | 415M | 257M | 257M | 416M | 430M |
| Current Ratio | 1.82x | 1.86x | 1.90x | 1.68x | 1.40x | 1.38x |
| Quick Ratio | 1.32x | 1.36x | 1.44x | 1.25x | 1.01x | 1.03x |
| Cash Conversion Cycle | 79.6 | 79.35 | 77 | 86.41 | 91.66 | 96.59 |
| Total Non-Current Liabilities | 1.28B | 1.28B | 1.22B | 1B | 1.26B | 1.3B |
| Long-Term Debt | 968M | 967M | 962M | 709M | 947M | 948M |
| Capital Lease Obligations | 101M | 31M | 40M | 49M | 69M | 54M |
| Deferred Tax Liabilities | 178M | 53M | 55M | 56M | 46M | 54M |
| Other Non-Current Liabilities | 314M | 214M | 150M | 179M | 199M | 240M |
| Total Liabilities | 2.25B | 2.23B | 2.19B | 2.15B | 2.43B | 2.47B |
| Total Debt | 992M | 1.02B | 1.04B | 864M | 1.13B | 1.14B |
| Net Debt | 664M | 661M | 560M | 499M | 877M | 882M |
| Debt / Equity | 0.64x | 0.64x | 0.66x | 0.46x | 0.69x | 0.67x |
| Debt / EBITDA | 2.06x | 2.33x | 2.35x | 1.58x | 2.33x | 2.72x |
| Net Debt / EBITDA | 1.38x | 1.51x | 1.26x | 0.91x | 1.81x | 2.11x |
| Interest Coverage | 3.37x | 3.46x | 2.89x | 4.68x | 13.39x | 6.47x |
| Total Equity | 1.55B | 1.59B | 1.57B | 1.89B | 1.64B | 1.71B |
| Equity Growth % | -12.19% | 0.83% | -16.59% | 14.85% | -4.03% | - |
| Book Value per Share | 40.03 | 39.58 | 35.13 | 40.15 | 34.95 | 36.41 |
| Total Shareholders' Equity | 1.55B | 1.59B | 1.57B | 1.89B | 1.64B | 1.71B |
| Common Stock | 1M | 1M | 1M | 1M | 1.73B | 1.65B |
| Retained Earnings | 158M | 132M | 44M | 9M | 0 | 0 |
| Treasury Stock | 0 | -426M | -230M | -23M | 0 | 0 |
| Accumulated OCI | -104M | -98M | -217M | -131M | -88M | 62M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 3M |
ICE market terminal decline
As reported in financial statements, PHINIA has maintained a consistent total asset base of approximately $3.8 billion to $4.0 billion since its spin-off, suggesting that the company is currently prioritizing balance sheet stabilization over aggressive asset expansion or significant deleveraging in the current automotive cycle.
The stability in total assets and liabilities indicates that management is successfully navigating the transition to a standalone entity without significant balance sheet erosion. Investors should monitor whether this plateauing of assets reflects a strategic choice to harvest cash from legacy operations rather than pursuing growth-oriented capital deployment.
Based on reported figures, PHINIA maintains a modest debt-to-equity ratio of 0.64 as of 2026Q1, which appears to provide the company with a meaningful buffer against the cyclical volatility inherent in the automotive parts manufacturing sector and the broader industrial market.
The company's ability to keep debt levels relatively flat near $1 billion while managing its spin-off obligations suggests a disciplined approach to capital structure. This moderate leverage profile may grant management the necessary flexibility to navigate potential downturns in OEM production without facing immediate refinancing pressures.
According to recent SEC filings, PHINIA's current ratio has remained consistently above 1.68 over the last ten quarters, indicating that the company possesses sufficient short-term assets to cover its immediate liabilities despite the inherent working capital swings associated with its high-precision manufacturing business model.
The current ratio of 1.82 in 2026Q1 suggests a healthy liquidity position that should allow the firm to absorb temporary supply chain disruptions or inventory build-ups. However, the reliance on current assets to maintain this ratio warrants ongoing scrutiny of inventory turnover rates to ensure that liquidity is not being artificially inflated by slow-moving stock.
As indicated by the provided data, PHINIA has successfully grown its retained earnings from $9 million in 2023Q4 to $158 million by 2026Q1, reflecting a steady accumulation of capital that suggests the company is beginning to build a more robust equity base as an independent entity.
The consistent upward trend in retained earnings is a positive indicator of internal capital generation, which may eventually support higher dividend payouts or strategic reinvestment. Investors should interpret this growth as a sign that the company is successfully transitioning from its initial spin-off phase toward a more mature, self-sustaining financial profile.
Based on the balance sheet data, goodwill remains a significant component of total assets at $510 million, which warrants further investigation as it may represent a potential vulnerability if the long-term demand for internal combustion engine components declines faster than current management projections suggest.
While the current goodwill balance appears stable, any material shift in the competitive landscape or a faster-than-expected transition to electrification could trigger impairment charges. Analysts should monitor whether this intangible asset value is supported by the cash-generating potential of the aftermarket segment or if it remains tied to legacy OEM contracts that face structural headwinds.
Quick answers to the most common questions about buying PHIN stock.
As of 2025, PHINIA Inc. (PHIN) had total assets of $3.82B including $1.76B in current assets.
PHINIA Inc. (PHIN) carries total debt of $1.02B, offset by $359.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
PHINIA Inc. (PHIN) has total shareholders' equity (book value) of $1.59B ($39.58 book value per share). Book value represents the net worth of the company belonging to common stock holders.
PHINIA Inc. (PHIN) reported a current ratio of 1.86x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.