Revenue growth has exhibited significant cyclical volatility, ranging from a 7.8% contraction in 2025Q1 to a 10.3% expansion by 2026Q1, while operating margins remain constrained between 7.8% and 10.2%.
| Sales/Revenue | 3.56B | 3.48B | 3.4B | 3.5B | 3.35B | 3.23B |
| Revenue Growth % | 6.86% | 2.35% | -2.77% | 4.54% | 3.75% | - |
| Cost of Goods Sold | 2.79B | 2.76B | 2.68B | 2.81B | 2.63B | 2.55B |
| COGS % of Revenue | - | 79.13% | 78.67% | 80.23% | 78.43% | 79.08% |
| Gross Profit | 770M | 727M | 726M | 692M | 722M | 675M |
| Gross Margin % | 21.6% | 20.87% | 21.33% | 19.77% | 21.57% | 20.92% |
| Gross Profit Growth % | - | 0.14% | 4.91% | -4.16% | 6.96% | - |
| Operating Expenses | 449M | 447M | 441M | 316M | 407M | 460M |
| OpEx % of Revenue | - | 12.83% | 12.96% | 9.03% | 12.16% | 14.25% |
| Selling, General & Admin | 356M | 342M | 329M | 208M | 303M | 328M |
| SG&A % of Revenue | - | 9.82% | 9.67% | 5.94% | 9.05% | 10.16% |
| Research & Development | 77M | 105M | 112M | 108M | 104M | 132M |
| R&D % of Revenue | - | 3.01% | 3.29% | 3.09% | 3.11% | 4.09% |
| Other Operating Expenses | 3M | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 321M | 280M | 285M | 376M | 315M | 215M |
| Operating Margin % | 9% | 8.04% | 8.38% | 10.74% | 9.41% | 6.66% |
| Operating Income Growth % | - | -1.75% | -24.2% | 19.37% | 46.51% | - |
| EBITDA | 481M | 437M | 445M | 547M | 485M | 419M |
| EBITDA Margin % | 13.49% | 12.55% | 13.08% | 15.63% | 14.49% | 12.98% |
| EBITDA Growth % | 7.61% | -1.8% | -18.65% | 12.78% | 15.75% | - |
| D&A (Non-Cash Add-back) | 160M | 157M | 160M | 171M | 170M | 204M |
| EBIT | 276M | 280M | 286M | 262M | 375M | 220M |
| Net Interest Income | -70M | -67M | -83M | -43M | -14M | -34M |
| Interest Income | 12M | 14M | 16M | 13M | 14M | 0 |
| Interest Expense | 82M | 81M | 99M | 56M | 28M | 34M |
| Other Income/Expense | -116M | -82M | -98M | -170M | 32M | -29M |
| Pretax Income | 205M | 198M | 187M | 206M | 347M | 186M |
| Pretax Margin % | 5.75% | 5.68% | 5.5% | 5.89% | 10.36% | 5.76% |
| Income Tax | 64M | 68M | 108M | 104M | 85M | 33M |
| Effective Tax Rate % | 31.22% | 34.34% | 57.75% | 50.49% | 24.5% | 17.74% |
| Net Income | 141M | 130M | 79M | 102M | 262M | 152M |
| Net Margin % | 3.96% | 3.73% | 2.32% | 2.91% | 7.83% | 4.71% |
| Net Income Growth % | 85.53% | 64.56% | -22.55% | -61.07% | 72.37% | - |
| Net Income (Continuing) | 141M | 130M | 79M | 102M | 262M | 153M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 3M |
| EPS (Diluted) | 3.64 | 3.24 | 1.76 | 2.17 | 5.57 | 3.23 |
| EPS Growth % | 103.41% | 84.09% | -18.89% | -61.04% | 72.45% | - |
| EPS (Basic) | - | 3.31 | 1.80 | 2.17 | 5.57 | 3.23 |
| Diluted Shares Outstanding | 38.7M | 40.1M | 44.8M | 47M | 47.01M | 47.01M |
| Basic Shares Outstanding | 38.7M | 39.3M | 44M | 46.9M | 47.01M | 47.01M |
| Dividend Payout Ratio | - | 32.31% | 55.7% | 22.55% | - | - |
ICE market terminal decline
As reported in recent financial statements, PHINIA's revenue growth has exhibited significant volatility, oscillating from a 7.8% contraction in 2025Q1 to a 10.3% expansion by 2026Q1, reflecting the inherent sensitivity of its OEM-heavy business model to global automotive production cycles and macroeconomic shifts.
The recent return to double-digit growth in 2026Q1 suggests a potential recovery in commercial vehicle build rates or successful penetration of GDI technology. However, the inconsistent quarterly performance indicates that top-line durability remains tethered to external cyclical factors rather than sustained organic momentum.
Based on reported figures, PHINIA has maintained gross margins within a tight 20.3% to 23.3% range, suggesting that the company possesses a degree of operational discipline despite the inherent pricing constraints imposed by large-scale automotive original equipment manufacturers on their Tier 1 suppliers.
The ability to sustain these margins during periods of revenue contraction implies effective cost management within the manufacturing footprint. Investors should monitor whether this stability can persist if raw material costs for specialized alloys experience further inflationary spikes.
According to the income statement data, operating income has failed to scale consistently with gross profit, as evidenced by operating margins fluctuating between 7.8% and 10.2% over the last ten quarters, indicating that fixed overhead costs continue to exert significant pressure on overall profitability.
The lack of clear operating leverage suggests that the company is still absorbing the costs of its standalone corporate structure following the spin-off. Further efficiency gains in SG&A will be necessary to demonstrate that the business can translate incremental gross profit into meaningful bottom-line expansion.
As indicated by the provided data, net income has shown extreme quarterly variance, ranging from $5 million to $46 million, which appears to be driven by non-operating items and fluctuating tax impacts rather than core operational performance, warranting a cautious approach to headline EPS figures.
The erratic nature of net income suggests that investors should focus on operating income as a more reliable proxy for underlying business health. The presence of variable stock-based compensation and potential one-time separation costs further complicates the assessment of true earnings quality.
While the company maintains a healthy balance sheet, the primary risk remains the long-term structural decline of internal combustion engine demand, which may eventually render current manufacturing assets obsolete faster than the company can pivot its R&D toward alternative fuel technologies or aftermarket dominance.
Short-term profitability may mask the long-term challenge of managing a sunsetting technology portfolio. If the transition to electrification accelerates beyond current expectations, the company may face significant impairment risks to its specialized manufacturing infrastructure.
Quick answers to the most common questions about buying PHIN stock.
For fiscal year 2025, PHINIA Inc. (PHIN) reported total revenue of $3.48B. This represents a 7.9% increase compared to $3.23B in 2021.
PHINIA Inc. (PHIN) is profitable, generating $130.0M in net income for the fiscal year ending 2025 with a net profit margin of 3.7%.
PHINIA Inc. (PHIN) reported an operating income of $280.0M, resulting in an operating profit margin of 8.0%. This margin reflects the operational efficiency of the business before interest and taxes.
PHINIA Inc. (PHIN) generated $727.0M in gross profit for the year, representing a gross profit margin of 20.9%. This demonstrates the company's core pricing power and production efficiency.