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Auto parts · Consumer Cyclical · Fiscal year ends Dec 31
Phinia reported revenue of $3.5B in the fiscal year ended Dec 2025, up 2.4% from the year before. Operating income was $254M, an operating margin of 7.3%, and net income was $130M. Operating cash flow of $312M less capital expenditure of $124M left free cash flow of $188M. Net debt was $609M.
Ranks among the 17 auto parts companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 3,227 | 3,348 | 3,500 | 3,403 | 3,483 |
| Cost of revenue | 2,551 | 2,627 | 2,776 | 2,647 | 2,721 |
| Gross profit | 676 | 721 | 724 | 756 | 762 |
| Research & development | 132 | 104 | 108 | 112 | 105 |
| Selling, general & admin | 460 | 407 | 413 | 442 | 445 |
| Operating income | 174 | 318 | 241 | 259 | 254 |
| Net interest incomeBanks | – | 13.0 | 26.0 | 34.0 | 59.0 |
| Interest expense | 35.0 | 20.0 | 56.0 | 99.0 | 81.0 |
| Pre-tax income | 186 | 347 | 206 | 187 | 198 |
| Income tax | 33.0 | 85.0 | 104 | 108 | 68.0 |
| Net income | 152 | 262 | 102 | 79.0 | 130 |
| Diluted EPS | 3.23 | 5.57 | 2.17 | 1.76 | 3.24 |
| Diluted shares | 47.0 | 47.0 | 47.0 | 44.8 | 40.1 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 259 | 251 | 365 | 484 | 359 |
| Receivables | – | 891 | 1,017 | 817 | 804 |
| Inventory | – | 459 | 487 | 444 | 473 |
| Current assets | – | 1,641 | 1,927 | 1,841 | 1,762 |
| Net PP&E | – | 924 | 921 | 843 | 876 |
| Goodwill | – | 490 | 499 | 471 | 509 |
| Total assets | 4,182 | 4,074 | 4,041 | 3,768 | 3,817 |
| Payables | – | 686 | 639 | 522 | 510 |
| Deferred revenue | – | 3.0 | 6.0 | 3.0 | 7.0 |
| Current liabilities | – | 1,170 | 1,148 | 969 | 947 |
| Short-term debt | – | 0.0 | 14.0 | 25.0 | 1.0 |
| Long-term debt | – | 26.0 | 709 | 963 | 967 |
| Total liabilities | 2,470 | 2,431 | 2,154 | 2,194 | 2,230 |
| Shareholders' equity | 1,712 | 1,643 | 1,887 | 1,574 | 1,587 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 147 | 303 | 250 | 308 | 312 |
| Capital expenditure | 146 | 107 | 150 | 105 | 124 |
| Free cash flow | 1.0 | 196 | 100 | 203 | 188 |
| Depreciation & amortisation | 204 | 170 | 170 | 160 | 157 |
| Stock-based compensation | 11.0 | 11.0 | 10.0 | 14.0 | 18.0 |
| Acquisitions | – | – | 0.0 | 0.0 | 9.0 |
| Share buybacks | – | 0.0 | 24.0 | – | – |
| Dividends paid | – | – | 23.0 | 44.0 | 42.0 |
| Dividend per share | – | – | 0.50 | 1.00 | 1.08 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 3.7% | 4.5% | −2.8% | 2.4% |
| Operating income growth (YoY) | – | 82.8% | −24.2% | 7.5% | −1.9% |
| EPS growth (YoY) | – | 72.4% | −61.0% | −18.9% | 84.1% |
| Gross margin | 20.9% | 21.5% | 20.7% | 22.2% | 21.9% |
| Operating margin | 5.4% | 9.5% | 6.9% | 7.6% | 7.3% |
| Net margin | 4.7% | 7.8% | 2.9% | 2.3% | 3.7% |
| Return on equityBlank when equity is negative | 8.9% | 15.9% | 5.4% | 5.0% | 8.2% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 11.0% | 8.3% | 9.3% | 8.9% |
| Free cash flow margin | 0.0% | 5.9% | 2.9% | 6.0% | 5.4% |
| Cash conversion (CFO ÷ net income) | 0.97x | 1.16x | 2.45x | 3.90x | 2.40x |
| Receivable days | – | 97 | 106 | 88 | 84 |
| Inventory days | – | 64 | 64 | 61 | 63 |
| Payable days | – | 95 | 84 | 72 | 68 |
| Interest cover | 4.97x | 15.9x | 4.30x | 2.62x | 3.14x |
| Debt ÷ equity | – | 0.02x | 0.38x | 0.63x | 0.61x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | −225 | 358 | 504 | 609 |
| Current ratio | – | 1.40x | 1.68x | 1.90x | 1.86x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.