PHINIA Inc. (PHIN) financial statements: income statement, balance sheet and cash flow

PHINIA Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), PHINIA Inc. reported revenue of $3.5B (+2.4% year on year) and net income of $130.0M (+64.6% year on year).

Income statement

PHINIA Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY
Net sales	$3.5B	$3.4B	$3.5B
Cost of sales	$2.7B	$2.6B	$2.8B
Gross profit	$762.0M	$756.0M	$724.0M
Selling, general and administrative expenses	$445.0M	$442.0M	$413.0M
Restructuring expense	$17.0M	—	$12.0M
Other operating expense, net	$46.0M	$55.0M	$58.0M
Operating income	$254.0M	$259.0M	$241.0M
Equity in affiliates’ earnings, net of tax	($15.0M)	($11.0M)	($10.0M)
Interest expense	$81.0M	$99.0M	$56.0M
Interest income	($14.0M)	($16.0M)	($13.0M)
Other postretirement expense	$4.0M	$0	$2.0M
Earnings before income taxes	$198.0M	$187.0M	$206.0M
Provision for income taxes	$68.0M	$108.0M	$104.0M
Net earnings	$130.0M	$79.0M	$102.0M
Earnings per share — basic (in dollar per share)	$3.31	$1.80	$2.17
Earnings per share — diluted (in dollar per share)	$3.24	$1.76	$2.17
Basic (in shares)	39.3M	44.0M	46.9M
Diluted (in shares)	40.1M	44.8M	47.0M

PHINIA Inc. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net sales	$940.0M	$878.0M	$908.0M	$890.0M
Cost of sales	$724.0M	$690.0M	$708.0M	$693.0M
Gross profit	$216.0M	$188.0M	$200.0M	$197.0M
Selling, general and administrative expenses	$128.0M	$115.0M	$105.0M	$112.0M
Restructuring expense	$8.0M	$3.0M	$4.0M	—
Other operating (income) expense, net	$0	$1.0M	$57.0M	($4.0M)
Operating income	$80.0M	$69.0M	$34.0M	$89.0M
Equity in affiliates’ earnings, net of tax	($4.0M)	($5.0M)	($3.0M)	($4.0M)
Interest income	($2.0M)	($2.0M)	($3.0M)	($4.0M)
Interest expense	$21.0M	$20.0M	$20.0M	$21.0M
Other postretirement (income) expense, net	($2.0M)	($1.0M)	$1.0M	$1.0M
Earnings before income taxes	$67.0M	$57.0M	$19.0M	$75.0M
Provision for income taxes	$27.0M	$20.0M	$6.0M	$29.0M
Net earnings	$40.0M	$37.0M	$13.0M	$46.0M
Earnings per share — basic (in dollars per share)	$1.08	$0.98	$0.34	$1.16
Earnings per share— diluted (in dollars per share)	$1.05	$0.96	$0.33	$1.14
Basic (in shares)	37.0M	37.8M	38.7M	39.5M
Diluted (in shares)	38.0M	38.7M	39.6M	40.2M

Balance sheet

PHINIA Inc. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY
Cash and cash equivalents	$359.0M	$484.0M	$365.0M
Receivables, net	$804.0M	$817.0M	$1.0B
Inventories	$473.0M	$444.0M	$487.0M
Prepayments and other current assets	$126.0M	$96.0M	$58.0M
Total current assets	$1.8B	$1.8B	$1.9B
Property, plant and equipment, net	$876.0M	$843.0M	$921.0M
Investments and long-term receivables	$145.0M	$111.0M	$115.0M
Goodwill	$509.0M	$471.0M	$499.0M
Other intangible assets, net	$398.0M	$374.0M	$417.0M
Other non-current assets	$127.0M	$128.0M	$162.0M
Total assets	$3.8B	$3.8B	$4.0B
Short-term borrowings and current portion of long-term debt	$3.0M	$25.0M	$89.0M
Accounts payable	$510.0M	$522.0M	$639.0M
Other current liabilities	$434.0M	$422.0M	$420.0M
Total current liabilities	$947.0M	$969.0M	$1.1B
Long-term debt	$967.0M	$963.0M	$709.0M
Retirement-related liabilities	$141.0M	$112.0M	$132.0M
Other non-current liabilities	$175.0M	$150.0M	$165.0M
Total liabilities	$2.2B	$2.2B	$2.2B
Common stock, $0.01 par value; authorized shares: 200,000,000; issued shares: (2025 - 47,013,661, 2024 - 47,013,661); outstanding shares: (2025 - 37,915,162, 2024 - 41,643,883)	1.0M	1.0M	1.0M
Additional paid-in capital	$2.0B	$2.0B	$2.0B
Retained earnings	$132.0M	$44.0M	$9.0M
Accumulated other comprehensive loss	($98.0M)	($217.0M)	($131.0M)
Treasury stock, at cost: (2025 - 9,098,499 shares, 2024 - 5,369,778 shares)	-426.0M	-230.0M	-23.0M
Total equity	$1.6B	$1.6B	$1.9B
Total liabilities and equity	$3.8B	$3.8B	$4.0B

PHINIA Inc. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$370.0M	$328.0M	$349.0M	$347.0M
Receivables, net	$853.0M	$818.0M	$898.0M	$905.0M
Inventories	$475.0M	$489.0M	$523.0M	$501.0M
Prepayments and other current assets	$140.0M	$135.0M	$148.0M	$119.0M
Total current assets	$1.8B	$1.8B	$1.9B	$1.9B
Property, plant and equipment, net	$841.0M	$854.0M	$864.0M	$871.0M
Investments and long-term receivables	$158.0M	$155.0M	$154.0M	$126.0M
Goodwill	$509.0M	$510.0M	$509.0M	$505.0M
Other intangible assets, net	$376.0M	$387.0M	$406.0M	$387.0M
Other non-current assets	$120.0M	$125.0M	$136.0M	$133.0M
Total assets	$3.8B	$3.8B	$4.0B	$3.9B
Short-term borrowings and current portion of long-term debt	$51.0M	$24.0M	$26.0M	$25.0M
Accounts payable	$529.0M	$525.0M	$627.0M	$571.0M
Other current liabilities	$438.0M	$421.0M	$465.0M	$409.0M
Total current liabilities	$1.0B	$970.0M	$1.1B	$1.0B
Long-term debt	$968.0M	$968.0M	$966.0M	$965.0M
Retirement-related liabilities	$134.0M	$137.0M	$125.0M	$124.0M
Other non-current liabilities	$181.0M	$177.0M	$192.0M	$173.0M
Total liabilities	$2.3B	$2.3B	$2.4B	$2.3B
Common stock	$1.0M	$1.0M	$1.0M	$1.0M
Additional paid-in capital	$2.0B	$2.0B	$2.0B	$2.0B
Retained earnings	$187.0M	$158.0M	$97.0M	$95.0M
Accumulated other comprehensive loss	($104.0M)	($104.0M)	($90.0M)	($76.0M)
Treasury stock	($522.0M)	($479.0M)	($397.0M)	($367.0M)
Total equity	$1.5B	$1.5B	$1.6B	$1.6B
Total liabilities and equity	$3.8B	$3.8B	$4.0B	$3.9B

Cash flow statement

PHINIA Inc. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY
Net cash provided by operating activities (see Note 25)	$312.0M	$308.0M	$250.0M
Capital expenditures, including tooling outlays	($124.0M)	($105.0M)	($150.0M)
Payments for businesses acquired, net of cash acquired	($9.0M)	—	—
Insurance proceeds received for damage to property, plant and equipment	$0	$3.0M	—
Payments for investment in equity securities	$0	($1.0M)	($2.0M)
Proceeds from asset disposals and other, net	$1.0M	$2.0M	$2.0M
Net cash used in investing activities	($132.0M)	($101.0M)	($150.0M)
Payments for debt issuance costs	$0	($15.0M)	($14.0M)
Borrowings (repayments) under revolving facilities	$1.0M	($75.0M)	$75.0M
Repayments of debt, including current portion	($24.0M)	($722.0M)	($4.0M)
Repayment Of Acquired Debt	$32.0M	—	—
Repayment of acquired debt	$0	$0	($728.0M)
Dividends paid to PHINIA Inc. stockholders	($42.0M)	($44.0M)	($23.0M)
Payments for purchase of treasury stock, including excise tax	($202.0M)	($212.0M)	—
Payments for stock-based compensation items	($11.0M)	($3.0M)	($1.0M)
Cash inflows related to debt due from Former Parent	$0	$0	$36.0M
Net cash (used in) provided by financing activities	($310.0M)	($96.0M)	$20.0M
Effect of exchange rate changes on cash	$5.0M	$8.0M	($6.0M)
Net (decrease) increase in cash and cash equivalents	($125.0M)	$119.0M	$114.0M
Cash and cash equivalents at beginning of year	$484.0M	$365.0M	$251.0M
Cash and cash equivalents at end of year	$359.0M	$484.0M	$365.0M

PHINIA Inc. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net cash provided by operating activities (see Note 22)	$144.0M	$53.0M	$216.0M	$97.0M
Capital expenditures, including tooling outlays	($54.0M)	($32.0M)	($95.0M)	($69.0M)
Payments for business acquired, net of cash acquired	$1.0M	—	($9.0M)	—
Proceeds from asset disposals and other, net	$0	—	$1.0M	$1.0M
Net cash used in investing activities	($53.0M)	($32.0M)	($103.0M)	($68.0M)
Net increase in short-term borrowings	$48.0M	—	—	—
Borrowings under Revolving Facility	$60.0M	$50.0M	—	—
Repayments under Revolving Facility	($60.0M)	($30.0M)	—	—
Dividends paid to PHINIA stockholders	($22.0M)	($11.0M)	($32.0M)	($21.0M)
Payments for purchase of treasury stock, including excise tax	($100.0M)	($54.0M)	($172.0M)	($142.0M)
Payments for stock-based compensation items	($7.0M)	($5.0M)	($9.0M)	($6.0M)
Net cash used in financing activities	($81.0M)	($50.0M)	($245.0M)	($169.0M)
Effect of exchange rate changes on cash	$1.0M	($2.0M)	($3.0M)	$3.0M
Net increase (decrease) in cash and cash equivalents	$11.0M	($31.0M)	($135.0M)	($137.0M)
Cash and cash equivalents at beginning of year	$359.0M	$359.0M	$484.0M	$484.0M
Cash and cash equivalents at end of period	$370.0M	$328.0M	$349.0M	$347.0M

PHINIA Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.