NYSE : OTIS
Otis Worldwide Corporation — Financial statements
Industrials · Specialty Industrial Machinery · United States
Last price 75.75 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 28.84B
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Financial statements
Otis Worldwide Corporation (OTIS) reported revenue of 15.13B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 15.13B | 14.43B | 14.26B | 14.21B | 13.69B | 14.30B |
| Cost of Revenue | 10.60B | 10.02B | 9.98B | 10.01B | 9.74B | 10.08B |
| Gross Profit | 4.53B | 4.41B | 4.29B | 4.20B | 3.94B | 4.21B |
| Selling, General & Admin | 2.00B | 1.90B | 1.82B | 1.83B | 1.73B | 1.91B |
| Research & Development | 158.00M | 152.00M | 152.00M | 144.00M | 150.00M | 159.00M |
| Other Operating Expenses | 28.00M | -10.00M | -35.00M | -17.00M | -31.00M | -24.00M |
| Operating Expenses | 2.19B | 2.04B | 1.94B | 1.96B | 1.85B | 2.04B |
| Operating Income | 2.34B | 2.38B | 2.35B | 2.24B | 2.10B | 2.17B |
| Interest Expense | -217.00M | -196.00M | -169.00M | -150.00M | -143.00M | -136.00M |
| Currency Exchange Gain (Loss) | 19.00M | 25.00M | 7.00M | 20.00M | 16.00M | 9.00M |
| EBT Excluding Unusual Items | 2.14B | 2.21B | 2.19B | 2.11B | 1.97B | 2.04B |
| Merger & Restructuring Charges | -58.00M | -199.00M | -136.00M | -83.00M | -60.00M | -56.00M |
| Gain (Loss) on Sale of Assets | 19.00M | 19.00M | -18.00M | |||
| Asset Writedown | 10.00M | |||||
| Legal Settlements | -10.00M | -88.00M | -12.00M | |||
| Other Unusual Items | -3.00M | 17.00M | -21.00M | -27.00M | ||
| Pretax Income | 2.10B | 1.93B | 2.04B | 2.03B | 1.89B | 1.96B |
| Income Tax Expense | 493.00M | 479.00M | 305.00M | 533.00M | 519.00M | 541.00M |
| Earnings From Continuing Operations | 1.61B | 1.46B | 1.73B | 1.50B | 1.37B | 1.42B |
| Minority Interest in Earnings | -56.00M | -71.00M | -89.00M | -92.00M | -116.00M | -174.00M |
| Net Income | 1.56B | 1.38B | 1.65B | 1.41B | 1.25B | 1.25B |
| Net Income to Common | 1.56B | 1.38B | 1.65B | 1.41B | 1.25B | 1.25B |
| Shares Outstanding (Basic) | 385.52M | 392.80M | 401.70M | 411.40M | 420.00M | 427.70M |
| Shares Outstanding (Diluted) | 386.88M | 394.90M | 404.40M | 414.60M | 423.00M | 431.40M |
| EPS (Basic) | 4.04 | 3.52 | 4.10 | 3.42 | 2.98 | 2.91 |
| EPS (Diluted) | 4.02 | 3.50 | 4.07 | 3.39 | 2.96 | 2.89 |
| Free Cash Flow | 1.67B | 1.44B | 1.44B | 1.49B | 1.45B | 1.59B |
| Free Cash Flow Per Share | 4.32 | 3.66 | 3.55 | 3.59 | 3.42 | 3.69 |
| Dividend Per Share | 1.72 | 1.65 | 1.51 | 1.31 | 1.11 | 0.92 |
| Gross Margin | 29.95% | 30.59% | 30.05% | 29.55% | 28.80% | 29.48% |
| Operating Margin | 15.47% | 16.46% | 16.48% | 15.79% | 15.32% | 15.18% |
| Profit Margin | 10.28% | 9.59% | 11.54% | 9.89% | 9.16% | 8.71% |
| Free Cash Flow Margin | 11.05% | 10.01% | 10.08% | 10.48% | 10.56% | 11.15% |
| EBITDA | 2.51B | 2.55B | 2.53B | 2.44B | 2.29B | 2.37B |
| EBITDA Margin | 16.59% | 17.68% | 17.75% | 17.15% | 16.71% | 16.60% |
| D&A For EBITDA | 169.00M | 175.00M | 181.00M | 193.00M | 191.00M | 203.00M |
| EBIT | 2.34B | 2.38B | 2.35B | 2.24B | 2.10B | 2.17B |
| EBIT Margin | 15.47% | 16.46% | 16.48% | 15.79% | 15.32% | 15.18% |
| Effective Tax Rate | 23.42% | 24.77% | 14.96% | 26.24% | 27.49% | 27.59% |
| Revenue as Reported | 15.13B | 14.43B | 14.26B | 14.21B | 13.69B | 14.30B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 866.00M | 1.10B | 2.30B | 1.27B | 1.19B | 1.56B |
| Cash & Short-Term Investments | 866.00M | 1.10B | 2.30B | 1.27B | 1.19B | 1.56B |
| Accounts Receivable | 4.97B | 4.39B | 4.13B | 4.16B | 3.93B | 3.69B |
| Other Receivables | 75.00M | 175.00M | 96.00M | 91.00M | 88.00M | |
| Receivables | 4.97B | 4.46B | 4.31B | 4.25B | 4.02B | 3.78B |
| Inventory | 689.00M | 613.00M | 557.00M | 612.00M | 617.00M | 622.00M |
| Restricted Cash | 9.00M | 21.00M | 6.00M | 1.91B | ||
| Other Current Assets | 397.00M | 321.00M | 483.00M | 253.00M | 316.00M | 382.00M |
| Total Current Assets | 6.92B | 6.50B | 7.67B | 6.40B | 6.14B | 8.26B |
| Property, Plant & Equipment | 1.37B | 1.30B | 1.12B | 1.14B | 1.17B | 1.30B |
| Goodwill | 1.85B | 1.70B | 1.55B | 1.59B | 1.57B | 1.67B |
| Other Intangible Assets | 379.00M | 343.00M | 311.00M | 335.00M | 369.00M | 419.00M |
| Long-Term Deferred Tax Assets | 423.00M | 407.00M | 302.00M | 323.00M | 285.00M | 335.00M |
| Other Long-Term Assets | 377.00M | 410.00M | 362.00M | 328.00M | 287.00M | 297.00M |
| Total Assets | 11.31B | 10.65B | 11.32B | 10.12B | 9.82B | 12.28B |
| Accounts Payable | 2.15B | 2.14B | 1.88B | 1.88B | 1.72B | 1.56B |
| Accrued Expenses | 1.63B | 1.50B | 1.48B | 1.53B | 1.53B | 1.66B |
| Short-Term Debt | 42.00M | 215.00M | 51.00M | 32.00M | 139.00M | 24.00M |
| Current Portion of Long-Term Debt | 1.18B | 841.00M | 1.30B | 531.00M | ||
| Current Portion of Leases | 158.00M | 120.00M | 117.00M | 127.00M | 181.00M | |
| Current Income Taxes Payable | 75.00M | 75.00M | 141.00M | 103.00M | 142.00M | |
| Current Unearned Revenue | 2.98B | 2.61B | 2.60B | 2.70B | 2.66B | 2.67B |
| Other Current Liabilities | 78.00M | 113.00M | 244.00M | 84.00M | 29.00M | 14.00M |
| Total Current Liabilities | 8.05B | 7.66B | 7.75B | 6.48B | 6.84B | 6.25B |
| Long-Term Debt | 7.05B | 6.89B | 6.97B | 6.87B | 6.10B | 7.25B |
| Long-Term Leases | 424.00M | 403.00M | 298.00M | 292.00M | 315.00M | 336.00M |
| Long-Term Unearned Revenue | 28.00M | 52.00M | 52.00M | |||
| Pension & Post-Retirement Benefits | 421.00M | 517.00M | 526.00M | 557.00M | 483.00M | 663.00M |
| Long-Term Deferred Tax Liabilities | 198.00M | 223.00M | 207.00M | 245.00M | 279.00M | 267.00M |
| Other Long-Term Liabilities | 299.00M | 231.00M | 291.00M | 398.00M | 413.00M | 449.00M |
| Total Liabilities | 16.47B | 15.92B | 16.04B | 14.84B | 14.48B | 15.26B |
| Common Stock | 371.00M | 333.00M | 265.00M | 213.00M | 162.00M | 119.00M |
| Retained Earnings | 125.00M | -440.00M | -978.00M | -2.00B | -2.87B | -2.26B |
| Treasury Stock | -5.00B | -4.20B | -3.39B | -2.38B | -1.57B | -725.00M |
| Comprehensive Income & Other | -921.00M | -1.09B | -745.00M | -750.00M | -592.00M | -763.00M |
| Total Common Equity | -5.43B | -5.39B | -4.85B | -4.92B | -4.87B | -3.62B |
| Minority Interest | 272.00M | 121.00M | 120.00M | 204.00M | 206.00M | 641.00M |
| Shareholders' Equity | -5.16B | -5.27B | -4.73B | -4.72B | -4.66B | -2.98B |
| Total Liabilities & Equity | 11.31B | 10.65B | 11.32B | 10.12B | 9.82B | 12.28B |
| Total Debt | 8.69B | 8.51B | 8.74B | 7.31B | 7.21B | 7.79B |
| Net Cash (Debt) | -7.83B | -7.42B | -6.44B | -6.03B | -6.02B | -6.22B |
| Net Cash Per Share | -20.23 | -18.78 | -15.93 | -14.55 | -14.23 | -14.43 |
| Filing Date Shares Outstanding | 380.71M | 388.72M | 396.52M | 405.45M | 414.87M | 424.96M |
| Total Common Shares Outstanding | 380.70M | 389.80M | 397.60M | 406.60M | 414.80M | 425.00M |
| Working Capital | -1.13B | -1.16B | -79.00M | -79.00M | -700.00M | 2.01B |
| Book Value Per Share | -14.26 | -13.83 | -12.19 | -12.11 | -11.74 | -8.53 |
| Tangible Book Value | -7.66B | -7.43B | -6.71B | -6.85B | -6.81B | -5.71B |
| Tangible Book Value Per Share | -20.11 | -19.06 | -16.87 | -16.84 | -16.41 | -13.44 |
| Land | 39.00M | 38.00M | 40.00M | 39.00M | 43.00M | |
| Buildings | 498.00M | 516.00M | 543.00M | 538.00M | 596.00M | |
| Machinery | 1.31B | 1.23B | 1.27B | 1.20B | 1.17B | |
| Construction In Progress | 156.00M | 105.00M | 106.00M | 97.00M | 125.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.56B | 1.38B | 1.65B | 1.41B | 1.25B | 1.25B |
| Depreciation & Amortization | 169.00M | 175.00M | 181.00M | 193.00M | 191.00M | 203.00M |
| Stock-Based Compensation | 74.00M | 80.00M | 73.00M | 64.00M | 67.00M | 65.00M |
| Other Operating Activities | -52.00M | -102.00M | -42.00M | -5.00M | 145.00M | 76.00M |
| Change in Accounts Receivable | -200.00M | -182.00M | -108.00M | -269.00M | -271.00M | -99.00M |
| Change in Inventory | -51.00M | -25.00M | 26.00M | 15.00M | -65.00M | 14.00M |
| Change in Accounts Payable | 355.00M | 181.00M | 57.00M | 152.00M | 272.00M | 130.00M |
| Change in Other Net Operating Assets | -17.00M | 85.00M | -269.00M | 71.00M | -32.00M | 115.00M |
| Operating Cash Flow | 1.83B | 1.60B | 1.56B | 1.63B | 1.56B | 1.75B |
| Capital Expenditures | -161.00M | -152.00M | -126.00M | -138.00M | -115.00M | -156.00M |
| Sale of Property, Plant & Equipment | 26.00M | 60.00M | 6.00M | 7.00M | ||
| Cash Acquisitions | -212.00M | -109.00M | -87.00M | -36.00M | -46.00M | -80.00M |
| Divestitures | 61.00M | |||||
| Investment in Securities | -9.00M | 4.00M | -7.00M | 40.00M | ||
| Other Investing Activities | 62.00M | -205.00M | 52.00M | -20.00M | 74.00M | 107.00M |
| Investing Cash Flow | -285.00M | -406.00M | -164.00M | -183.00M | -33.00M | -89.00M |
| Short-Term Debt Issued | 11.00M | 113.00M | ||||
| Long-Term Debt Issued | 667.00M | 1.50B | 747.00M | 2.18B | ||
| Total Debt Issued | 599.00M | 667.00M | 1.51B | 747.00M | 113.00M | 2.18B |
| Short-Term Debt Repaid | -25.00M | -113.00M | -304.00M | |||
| Long-Term Debt Repaid | -1.30B | -534.00M | -500.00M | -503.00M | ||
| Total Debt Repaid | -357.00M | -1.32B | -647.00M | -500.00M | -807.00M | |
| Net Debt Issued (Repaid) | 242.00M | -658.00M | 1.51B | 100.00M | -387.00M | 1.38B |
| Repurchase of Common Stock | -807.00M | -809.00M | -1.01B | -800.00M | -850.00M | -725.00M |
| Common Dividends Paid | -662.00M | -647.00M | -606.00M | -539.00M | -465.00M | -393.00M |
| Other Financing Activities | -301.00M | -307.00M | -204.00M | -111.00M | -1.95B | -199.00M |
| Financing Cash Flow | -1.53B | -2.42B | -309.00M | -1.35B | -3.65B | 58.00M |
| Foreign Exchange Rate Adjustments | 4.00M | 15.00M | -49.00M | -9.00M | -157.00M | -43.00M |
| Net Cash Flow | 25.00M | -1.22B | 1.04B | 85.00M | -2.28B | 1.68B |
| Free Cash Flow | 1.67B | 1.44B | 1.44B | 1.49B | 1.45B | 1.59B |
| Free Cash Flow Margin | 11.05% | 10.01% | 10.08% | 10.48% | 10.56% | 11.15% |
| Free Cash Flow Per Share | 4.32 | 3.66 | 3.55 | 3.59 | 3.42 | 3.69 |
| Levered Free Cash Flow | 1.39B | 1.59B | 1.20B | 1.54B | 3.11B | -362.12M |
| Unlevered Free Cash Flow | 1.52B | 1.72B | 1.30B | 1.63B | 3.20B | -277.12M |
| Cash Interest Paid | 230.00M | 230.00M | 172.00M | 132.00M | 134.00M | 129.00M |
| Cash Income Tax Paid | 471.00M | 471.00M | 586.00M | 546.00M | 562.00M | 552.00M |
| Change in Working Capital | 87.00M | 59.00M | -294.00M | -31.00M | -96.00M | 160.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 28.84B | 34.04B | 36.99B | 36.62B | 32.62B | 36.98B |
| Enterprise Value | 36.67B | 41.83B | 43.84B | 42.86B | 38.66B | 41.91B |
| Last Close Price | 75.75 | 85.91 | 89.48 | 85.08 | 73.32 | 80.36 |
| PE Ratio | 18.84 | 24.60 | 22.49 | 26.04 | 26.04 | 29.68 |
| Forward PE | 17.77 | 20.37 | 23.12 | 24.09 | 23.82 | 27.77 |
| PS Ratio | 1.91 | 2.36 | 2.59 | 2.58 | 2.38 | 2.59 |
| PB Ratio | -6.46 | -7.82 | -7.76 | -7.00 | -12.39 | |
| P/FCF Ratio | 17.24 | 23.57 | 25.74 | 24.59 | 22.58 | 23.20 |
| P/OCF Ratio | 15.72 | 21.33 | 23.67 | 22.50 | 20.91 | 21.13 |
| PEG Ratio | 2.29 | 3.14 | 2.31 | 2.29 | 2.27 | 2.28 |
| EV/Sales Ratio | 2.42 | 2.90 | 3.07 | 3.02 | 2.83 | 2.93 |
| EV/EBITDA Ratio | 14.60 | 16.40 | 17.32 | 17.59 | 16.90 | 17.66 |
| EV/EBIT Ratio | 15.66 | 17.60 | 18.65 | 19.10 | 18.44 | 19.31 |
| EV/FCF Ratio | 21.92 | 28.96 | 30.51 | 28.78 | 26.75 | 26.29 |
| Debt / Equity Ratio | -1.69 | -1.61 | -1.85 | -1.55 | -1.55 | -2.61 |
| Debt / EBITDA Ratio | 3.16 | 3.09 | 3.24 | 2.82 | 2.96 | 3.09 |
| Debt / FCF Ratio | 5.20 | 5.89 | 6.08 | 4.91 | 4.99 | 4.89 |
| Net Debt / Equity Ratio | -1.52 | -1.41 | -1.36 | -1.28 | -1.29 | -2.09 |
| Net Debt / EBITDA Ratio | 3.12 | 2.91 | 2.54 | 2.48 | 2.63 | 2.62 |
| Net Debt / FCF Ratio | 4.68 | 5.13 | 4.48 | 4.05 | 4.17 | 3.90 |
| Asset Turnover | 1.37 | 1.31 | 1.33 | 1.43 | 1.24 | 1.24 |
| Inventory Turnover | 15.96 | 17.12 | 17.07 | 16.29 | 15.73 | 15.74 |
| Quick Ratio | 0.72 | 0.73 | 0.85 | 0.85 | 0.76 | 0.86 |
| Current Ratio | 0.86 | 0.85 | 0.99 | 0.99 | 0.90 | 1.32 |
| Return on Assets (ROA) | 13.26% | 13.52% | 13.71% | 14.07% | 11.86% | 11.80% |
| Return on Invested Capital (ROIC) | 57.96% | 54.46% | 55.47% | 50.05% | 33.74% | 31.23% |
| Return on Capital Employed (ROCE) | 71.90% | 79.30% | 65.90% | 61.70% | 70.40% | 36.00% |
| Earnings Yield | 5.31% | 4.07% | 4.45% | 3.84% | 3.84% | 3.37% |
| FCF Yield | 5.80% | 4.24% | 3.88% | 4.07% | 4.43% | 4.31% |
| Dividend Yield | 2.32% | 1.89% | 1.62% | 1.46% | 1.41% | 1.06% |
| Payout Ratio | 43.78% | 46.75% | 36.84% | 38.34% | 37.11% | 31.54% |
| Buyback Yield / Dilution | 2.60% | 2.35% | 2.46% | 1.99% | 1.95% | 0.74% |
| Total Shareholder Return | 4.92% | 4.24% | 4.08% | 3.44% | 3.36% | 1.79% |