Short answer
PHINIA INC. (PHIN) filed its fiscal 2025 10-K annual report with the SEC on Feb 12, 2026. It reported revenue of $3.5B (+2.4% year over year) and net income of $130M.
- Top risk flagged: Uncertainty on trade restrictions and tariffs, including 2025 U.S. export controls on rare earth metals and semiconductors, risking higher input costs and decreased demand
FY2025 key financial metrics · XBRL
- Revenue
- $3.5B
- +2.4% YoY
- Net income
- $130M
- +64.6% YoY
- Operating margin
- 7.3%
- −0.3 pp YoY
- Gross margin
- 21.9%
- −0.3 pp YoY
- EPS (diluted)
- $3.24
- +84.1% YoY
- ROE
- 8.2%
- +3.2 pp YoY
- Operating cash flow
- $312M
- +1.3% YoY
Source: XBRL data from the PHINIA INC. (PHIN) FY2025 10-K on SEC EDGAR. USD.
PHINIA INC. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: design and manufacture of integrated combustion and hybrid propulsion systems for commercial, light commercial, and passenger vehicles
- Spin-off completion July 3, 2023, creating independent public company PHINIA from BorgWarner’s Fuel Systems and Aftermarket businesses
- Acquisition of Swedish Electromagnet Invest AB for $47 million on August 1, 2025, expanding Fuel Systems segment into alternative fuel ignition systems
- Employee count, R&D spend, or geographic expansion not disclosed; notable is transition to standalone public company trading under NYSE symbol "PHIN"
Management Discussion & Analysis
- Revenue $3,483M in 2025, up 2.4% YoY from $3,403M in 2024, driven by foreign currency and acquisition effects
- Operating margin 7.3% in 2025 vs 7.6% in 2024; net earnings margin 3.7% in 2025 vs 2.3% in 2024
- Best segment: Fuel Systems $2,320M (66.6% of sales), slight increase from $2,275M; worst segment: Aftermarket $1,306M, marginal increase from $1,282M
- Net cash used for SEM acquisition $47M ($15M cash + $32M debt extinguished); SG&A $445M flat YoY; tax provision down to $68M from $108M
- Guidance: 2026 sales expected to modestly increase excluding acquisitions; CV and LV volumes to decline mid- and low-single digits; risks from inflation, tariffs, supply constraints, and geopolitical uncertainty
Risk Factors
- Uncertainty on trade restrictions and tariffs, including 2025 U.S. export controls on rare earth metals and semiconductors, risking higher input costs and decreased demand
- Global automotive exposure to inflation pressures: energy and base metal prices up since 2024, with limited ability to fully recover increased costs from customers
- Integration risk from August 2025 SEM acquisition of alternative fuel ignition systems, including loss of key employees and potential operational disruption
- Cybersecurity threats amplified by AI risks, including social engineering and ransomware, threatening production delays and data breaches despite existing protections
- Intense global competition from larger suppliers with lower labor and tax costs and advanced AI capabilities, risking loss of market share and margin pressure
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