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Makes fuel injection, ignition and aftermarket parts for combustion and hybrid vehicle engines, spun off from BorgWarner.
Makes fuel injection, ignition and aftermarket parts for combustion and hybrid vehicle engines, spun off from BorgWarner.
Sells fuel-system parts to engine and vehicle makers under multi-year programmes, including commercial-vehicle builders, and sells replacement parts through independent distributors, which keep earning as existing engines age. It became a separate listed company in July 2023, when BorgWarner spun it off to its own shareholders.
Moat: narrow (brand, installed base, distribution). Strong aftermarket brand recognition provides steady demand independent of new-vehicle cycles.
Headquarters: Auburn Hills, Michigan, US · Founded: 2023 · Employees: 12,500
Size PHINIA (PHIN) is a United States Consumer Discretionary company (Auto Parts: OEM) with a market value of $2.48B, the 1658th largest of 3,117 United States companies the cockpit tracks. Shares closed at $68.94 on 6 Nov 2026.
Performance Over six months the shares fell 13.7%, against -10.6% for the median peer and -1.1% for the United States market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 5.6% over the last twelve months (peer median +10.5%); the operating margin is 8.8% (peer median 6.8%).
Valuation It trades at 10.1× forward earnings against a peer median of 21.8× (4th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +27%, so the hurdle is -27 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.5 points above its cost of capital (8.8% WACC).
Credit PHINIA has 1 bond outstanding ($450M), rated BB by the agencies and trading like BB at a weighted spread of 208 bp.
Short interest Short interest is 10.0% of the free float (15 Oct 2026).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.62B | $3.48B | $3.40B | $3.50B | $3.35B |
| Revenue growth | — | +2% | -3% | +5% | — |
| Gross profit | $769M | $727M | $726M | $692M | $722M |
| EBITDA | $481M | $437M | $445M | $547M | $485M |
| Net income | $189M | $130M | $79.0M | $102M | $262M |
| Free cash flow | $227M | $188M | $203M | $100M | $196M |
| Capital expenditure | $100M | $124M | $105M | $150M | $107M |
| Total debt | $1.13B | $1.02B | $1.04B | $864M | $1.13B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| PHINIA PHIN | $2.48B | -14% | +6% | 9% | 10.1× | 0.4% |
| BorgWarner BWA | $9.80B | -20% | 0% | 11% | 8.7× | -3.2% |
| Denso 6902.T | $32.5B | -1% | +7% | 7% | 12.1× | 3.4% |
| Continental CON.DE | $15.8B | +2% | -35% | n/a | 12.1× | -0.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PHIN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +17.9% | -6.2% | highest of 21 |
| 6-month return | -13.7% | -10.6% | 10th lowest of 21 |
| Distance from 52-week high | -20.7% | -38.6% | 7th highest of 21 |
| Revenue growth (TTM) | +5.6% | +10.5% | 8th lowest of 21 |
| Operating margin | 8.8% | 6.8% | 7th highest of 21 |
| Forward P/E | 10.1× | 21.8× | 4th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 0.4% | 16.4% | 2nd least demanding of 14 |
| Growth delivered (Del g) | +27.5% | +9.9% | highest of 14 |
| Hurdle (Req g minus delivered) | -27.1 pp | +6.1 pp | least demanding of 14 |
| ROIC minus cost of capital | +2.5 pp | -0.9 pp | 4th highest of 21 |
| EV / EBITDA | 6.6× | 15.5× | 4th cheapest of 11 |
| Net debt / EBITDA | 1.4× | 0.6× | 5th most indebted of 12 |
| Bond spread | 208 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PHINIA PHIN | United States | $2.48B | -14% | +6% | 9% | 10.1× | 0.4% | +27.5% |
| Stanley Electric 6923.T | Japan | $2.41B | +1% | +11% | 7% | 9.9× | 1.3% | +7.6% |
| Sundram Fasteners SUNDRMFAST.NS | India | $2.40B | +24% | +17% | 12% | 31.6× | 28.4% | +11.6% |
| Gabriel India GABRIEL.NS | India | $2.58B | +22% | +24% | 7% | 47.7× | 55.1% | +22.5% |
| Feilong Auto Components 002536.SZ | China | $2.60B | -20% | +5% | 4% | 35.4× | n/a | n/a |
| Zhejiang Wanfeng Auto Wheel 002085.SZ | China | $2.64B | -36% | -2% | 7% | 19.5× | 3.7% | +8.4% |
| Shanghai Beite Technology 603009.SS | China | $2.64B | +11% | +9% | 7% | 114.7× | n/a | n/a |
| Hanon Systems 018880.KS | South Korea | $2.31B | -28% | +5% | 4% | 12.3× | 3.6% | +9.6% |
| Weifu High-Technology 000581.SZ | China | $2.29B | -11% | +17% | -3% | 10.2× | 16.4% | -1.4% |
| Huada Automotive Technology 603358.SS | China | $2.28B | +3% | +5% | -3% | 24.7× | n/a | n/a |
| Toyota Boshoku 3116.T | Japan | $2.28B | -9% | +8% | 2% | 7.7× | -7.3% | +9.9% |
| Chongqing Zongshen Power Machinery 001696.SZ | China | $2.25B | -24% | -5% | 5% | 17.3× | 7.6% | +9.6% |
| Motherson Sumi Wiring India MSUMI.NS | India | $2.75B | -9% | +36% | 7% | 32.1× | 30.0% | +23.8% |
| ZF Commercial Vehicle Control Systems India ZFCVINDIA.NS | India | $2.76B | -5% | +9% | 13% | 44.2× | 31.9% | +17.3% |
| TVS TVSHLTD.NS | India | $2.78B | -10% | +35% | 14% | n/a | n/a | n/a |
| IKD 600933.SS | China | $2.21B | -16% | +26% | 14% | 13.3× | n/a | n/a |
| Keboda Technology 603786.SS | China | $2.20B | -32% | -1% | 10% | 20.4× | n/a | n/a |
| Hesai 2525.HK | Hong Kong | $2.20B | -39% | +39% | 1% | 34.2× | n/a | n/a |
| Belrise Industries BELRISE.NS | India | $2.19B | -6% | +12% | 8% | 31.6× | 18.6% | +13.0% |
| Dana DAN | United States | $2.17B | -38% | -9% | 4% | 6.1× | 8.8% | +1.1% |
| Escorts Kubota ESCORTS.NS | India | $2.84B | -27% | +19% | 9% | 21.8× | 21.0% | +10.7% |
PHINIA has 1 bond outstanding with $450M face value. The agencies rate it BB; its bonds trade like BB. Weighted yield 6.74%, a spread of 208 bp over government bonds.