Is the business good?
How good a business is PHIN?
PHINIA Inc. earns 9.3% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
9.3%
Return on invested capital · cost of capital 9.0% · 0.32 points above what the capital costs: growth creates value
- Operating margin
- 7.3%
Operating margin · Auto Parts median 8.5% · 12 months to Q1 2026
- Cash conversion
- 1.45×
Cash conversion · 2.90× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −6.8%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2021 | 5.4% |
| FY2022 | 9.5% |
| FY2023 | 6.9% |
| FY2024 | 7.6% |
| FY2025 | 7.3% |
Details›
- Gross margin12 months to Q1 2026
- 22%
- Operating margin12 months to Q1 2026
- 7.3%
- Net margin12 months to Q1 2026
- 4.0%
- Free cash flow margin
- 5.7%
- R&D as % of revenue
- 3.0%
- Revenue, trailing twelve months
- $3.56B
- Free cash flow, trailing twelve months
- $204M
- Net income, trailing twelve months
- $141M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 9.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.