PHINIA Inc. (PHIN) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-7.5%

$64.37

vs $69.58 price

Levered DCF

$98.58

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.08

Grey zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	18.94×	26.76×	13.96×	6.64×	11.46×	-14.02×
P/B	1.55×	1.35×	0.75×	1.06×	1.02×	0×
P/S	0.71×	0.62×	0.41×	0.52×	0.54×	1.68×
EV / EBITDA	7.17×	6.01×	4.43×	4.8×	6.18×	0×
Gross margin	20.9%	21.3%	19.8%	21.6%	20.9%	16.9%
Operating margin	8.0%	8.4%	10.7%	9.4%	6.7%	2.7%
Net margin	3.7%	2.3%	2.9%	7.8%	4.7%	-12.0%
Current ratio	1.86×	1.9×	1.68×	1.4×	1.38×	0×
Debt / equity	0.64×	0.66×	0.46×	0.69×	0.67×	0×
Interest coverage	3.46×	2.88×	6.71×	11.25×	6.32×	1.75×
Dividend yield	1.7%	2.1%	1.6%	0.0%	0.0%	0.0%
Payout ratio	32.3%	55.7%	22.5%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	8.2%	5.0%	5.4%	15.9%	8.9%	0.0%
Return on invested capital	6.4%	4.2%	6.2%	7.9%	5.6%	0.0%
Return on assets	3.4%	2.1%	2.5%	6.4%	3.6%	0.0%
Free cash flow yield	7.6%	9.6%	7.0%	11.3%	0.1%	-8.7%
Earnings yield	5.3%	3.7%	7.2%	15.1%	8.7%	-7.1%
Enterprise value	$3.1B	$2.7B	$1.9B	$2.6B	$2.6B	$0
Net debt / EBITDA	1.52×	1.26×	1.15×	1.61×	2.08×	0×
Cash conversion cycle (days)	79	77	86	92	97	0