PHINIA Inc. PHIN

Consumer DiscretionaryAutomobiles & Auto PartsUnited States of America

Last close 61.06 USD on Nov 1, 2026, +1.6% year to date

Quant rating

Quant rating C Rank 219 of 344 in Consumer Discretionary

Growth D 284 of 344
Valuation A 48 of 344
Quality D 302 of 344
Revisions C 194 of 344
Momentum C 143 of 344

Wall Street consensus Buy (2.20)Average target 88.40 USD +44.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 2.3B
Enterprise value: 2.9B
52-week range: 51.33 – 86.74
3-year range: 23.94 – 86.74
Dividend yield: 1.91%
Beta (5 years): 1.13
Shares outstanding: 36.0M
Next earnings: Feb 12, 2027

About the company

PHINIA Inc. is an independent solutions and components provider. Across commercial vehicles and industrial applications, the Company develops fuel systems, electrical systems and aftermarket solutions. The Company’s segments include Fuel Systems and Aftermarket. The Fuel Systems segment provides advanced fuel injection systems, fuel delivery modules, canisters, sensors, electronic control modules and associated software. Its engineered fuel injection systems portfolio includes pumps, injectors, fuel rail assemblies, engine control modules, and complete systems, including software and calibration services, that reduce emissions and improve fuel economy for traditional and hybrid applications. The Aftermarket segment sells products to independent aftermarket customers and OES customers. Its product portfolio includes a wide range of products as well as maintenance, test equipment and vehicle diagnostics solutions. The Company's brand portfolio includes DELPHI, DELCO REMY and HARTRIDGET.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	3,445	3,403	3,500	3,348	3,227	–
Revenue growth	1.2%	−2.8%	4.5%	3.7%	212.1%	27.2%
EPS (basic, normalized)	4.96	3.86	4.13	–	–	–
EPS growth	28.5%	−6.5%	–	–	–	–
Gross margin	22.2%	22.2%	20.7%	21.5%	20.9%	21.5%
Net margin	3.8%	2.3%	2.9%	7.8%	4.7%	4.3%
ROE	8.2%	4.6%	5.8%	15.6%	–	8.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	436
Current ratio	1.81x
Long-term debt (mil)	968
Net debt (mil)	649
Total equity (mil)	1,525
Net debt / equity	0.43x
Net debt / EBITDA	1.36x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	3,445	+1.2%	0.8x	478	−0.1%	6.1x	4.96	+28.5%	12.3x
2026	3,649	+5.9%	0.8x	507	+6.1%	5.7x	6.04	+21.9%	10.1x
2027	3,766	+3.2%	0.8x	539	+6.3%	5.4x	6.83	+13.1%	8.9x
2028	3,830	+1.7%	0.8x	545	+1.0%	5.3x	7.60	+11.2%	8.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	3,649	+0.1%	+0.2%	+0.2%	6.04	+1.3%	+0.7%	+0.9%
2027	3,766	−0.3%	+0.2%	+1.0%	6.83	−1.0%	−0.3%	+1.5%
2028	3,830	−0.3%	+0.3%	+2.0%	7.60	−1.4%	−0.1%	+4.3%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	–	–	839	833	796	890	908	889	878	940
Sales mean (mil)	–	–	860	802	814	873	871	847	852	927
Surprise	–	–	−2.4%	+3.9%	−2.3%	+2.0%	+4.2%	+4.9%	+3.0%	+1.4%
EPS reported	1.08	0.88	1.17	0.71	0.94	1.27	1.59	1.18	1.29	1.53
EPS mean	0.74	1.15	0.85	0.85	1.01	1.03	1.19	1.26	1.12	1.57
Surprise	+45.9%	−23.5%	+37.6%	−16.1%	−7.2%	+23.8%	+33.7%	−6.3%	+15.6%	−2.3%

Peer comparison Automobiles & Auto Parts

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
PHIN PHINIA Inc.	2.3B	1.36x	3.8%	1.50x	10.1x	8.9x	5.7x	5.4x
CMI Cummins Inc	68.8B	0.83x	8.4%	5.36x	16.9x	14.4x	10.8x	9.4x
GTX Garrett Motion Inc.	3.9B	1.82x	8.6%	−6.27x	10.7x	9.5x	7.2x	6.9x
GNTX Gentex Corporation	4.2B	–	15.0%	1.69x	9.9x	9.3x	6.7x	6.5x
DORM Dorman Products, Inc.	4.0B	0.63x	9.6%	2.57x	15.7x	15.0x	10.2x	11.1x
VLOF Valeo SE	3.1B	–	1.0%	0.79x	8.9x	6.8x	2.5x	2.4x
Mean		1.16x	7.7%	0.94x	12.0x	10.7x	7.2x	6.9x
Median		1.09x	8.5%	1.59x	10.4x	9.4x	6.9x	6.7x

Technical analysis

1M+3.6%
3M−21.5%
1Y+18.8%
3Y+163.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, PHINIA Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	3,445	3,403	3,500	3,348	3,227	1,034
Cost of revenue	2,681	2,647	2,776	2,627	2,551	859
Gross profit	764	756	724	721	676	175
Selling, general & administrative expenses	340	330	305	303	328	101
Research & development	105	112	108	104	132	46.0
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	69.0	59.0	92.0	42.0	62.0	129
Other operating expenses	−4.0	−4.0	−22.0	−46.0	−20.0	−8.0
Operating income	254	259	241	318	174	−93.0
Net interest income (expense)	−52.0	−72.0	−33.0	−3.0	−27.0	−15.0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−4.0	0	−2.0	32.0	39.0	3.0
Net income before taxes	198	187	206	347	186	−105
Provision for taxes	68.0	108	104	85.0	33.0	19.0
Minority interest	–	–	–	0	−1.0	0
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	130	79.0	102	262	152	−124
Extraordinary items	–	–	–	–	–	–
Net income	130	79.0	102	262	152	−124
EBIT, normalized	323	318	333	360	236	36.0
EBITDA, normalized	480	478	504	530	440	98.0
Basic EPS, normalized	4.96	3.86	4.13	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, PHINIA Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	359	484	365	251	259	–
Receivables	804	817	1,017	893	902	–
Total inventory	473	444	487	459	417	–
Prepaid expenses	101	79.0	40.0	17.0	22.0	–
Other current assets	25.0	17.0	18.0	21.0	24.0	–
Total current assets	1,762	1,841	1,927	1,641	1,624	–
Property, plant & equipment	924	897	984	1,004	1,057	–
Goodwill	509	471	499	490	496	–
Intangibles	398	374	417	432	470	–
Long-term investments	65.0	56.0	52.0	46.0	42.0	–
Note receivable	80.0	55.0	63.0	279	267	–
Other long-term assets	79.0	74.0	99.0	182	226	–
Total assets	3,817	3,768	4,041	4,074	4,182	–
Liabilities
Accounts payable	510	522	639	686	632	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	150	157	130	117	104	–
Short-term debt	2.0	0	14.0	0	0	–
Current portion of long-term debt	1.0	25.0	75.0	94.0	120	–
Other current liabilities	284	265	290	273	318	–
Total current liabilities	947	969	1,148	1,170	1,174	–
Long-term debt	967	963	709	949	948	–
Minority interest	–	–	–	0	3.0	–
Other liabilities	316	262	297	312	348	–
Total liabilities	2,230	2,194	2,154	2,431	2,473	–
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1.0	1.0	1.0	–	–	–
Additional paid-in capital	1,978	1,976	2,031	–	–	–
Retained earnings (accumulated deficit)	132	44.0	9.0	–	–	–
Treasury stock	−426	−230	−23.0	–	–	–
Other equity	−98.0	−217	−131	1,643	1,709	–
Total equity	1,587	1,574	1,887	1,643	1,709	–
Total liabilities & shareholders' equity	3,817	3,768	4,041	4,074	4,182	–

Cash flow statement in millions of USD, fiscal years

Cash flow statement, PHINIA Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	130	79.0	102	262	153	−124
Depreciation, depletion & amortization	157	160	171	170	204	62.0
Deferred taxes	−19.0	11.0	32.0	25.0	−56.0	−4.0
Non-cash items	20.0	57.0	−4.0	19.0	74.0	−61.0
Changes in working capital	24.0	1.0	−51.0	−173	−228	30.0
Cash from operations	312	308	250	303	147	−97.0
Investing activities
Capital expenditures	−124	−105	−150	−107	−146	−54.0
Other investing cash flows	−8.0	4.0	0	2.0	6.0	423
Cash from investing	−132	−101	−150	−105	−140	369
Financing activities
Financing cash flow items	−11.0	−18.0	−20.0	−207	8.0	19.0
Cash dividends paid	−42.0	−44.0	−23.0	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−257	−34.0	63.0	22.0	−52.0	−17.0
Cash from financing	−310	−96.0	20.0	−185	−44.0	2.0
Foreign exchange effects	5.0	8.0	−6.0	−21.0	4.0	14.0
Net change in cash	−125	119	114	−8.0	−33.0	288
Free cash flow	188	203	100	196	1.0	−151

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.