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Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally. The company operates in two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects. This segment serves real-estate and building developers, and general contractors. It sells its products directly to customers, as well as through agents and distributors. The Service segment performs maintenance and repair services, as well as modernization services to upgrade elevators and escalators. Otis Worldwide Corporation was founded in 1853 and is headquartered in Farmington, Connecticut.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $14.4B | $2.4B | $1.4B | $1.4B | -25.7% | 1.2% | -15.9% |
| 2024 | $14.3B | $2.2B | $1.6B | $1.4B | -33.9% | 0.4% | 17.0% |
| 2023 | $14.2B | $2.4B | $1.4B | $1.5B | -28.6% | 3.8% | 12.2% |
| 2022 | $13.7B | $2.3B | $1.3B | $1.4B | -25.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 13,685 | 14,209 | 14,261 | 14,431 |
| Cost Of Revenue | - | 9,765 | 10,016 | 10,004 | 10,061 |
| Gross Profit | - | 3,920 | 4,193 | 4,257 | 4,370 |
| Operating Expense | - | 1,849 | 1,946 | 2,206 | 2,151 |
| Operating Income | - | 2,071 | 2,247 | 2,051 | 2,219 |
| EBITDA | - | 2,262 | 2,440 | 2,232 | 2,394 |
| EBIT | - | 2,071 | 2,247 | 2,051 | 2,219 |
| Pretax Income | - | 1,888 | 2,031 | 2,039 | 1,934 |
| Tax Provision | - | 519 | 533 | 305 | 479 |
| Net Income | - | 1,253 | 1,406 | 1,645 | 1,384 |
| Net Income Common Stockholders | - | 1,253 | 1,406 | 1,645 | 1,384 |
| Total Expenses | - | 11,614 | 11,962 | 12,210 | 12,212 |
| Research And Development | - | 150 | 144 | 152 | 152 |
| Selling General And Administration | - | 1,725 | 1,823 | 1,818 | 1,893 |
| Normalized EBITDA | - | 2,300 | 2,501 | 2,275 | 2,480 |
| Normalized Income | - | 1,280.55 | 1,451.02 | 1,681.57 | 1,448.70 |
| Market Cap | 29,910.67 | 29,910.67 | 29,910.67 | 29,910.67 | 29,910.67 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Otis Worldwide Corporationthis co. | OTIS | $30.6B | 21.61↓ discount | -5.55 | -25.7% | 15.59 |
| Ingersoll Rand Inc. | IR | $33.4B | 56.96 | 3.28 | 5.8% | 21.66 |
| Copart, Inc. | CPRT | $31.9B | 20.52 | 3.47 | 16.9% | 15.24 |
| Axon Enterprise, Inc. | AXON | $30.9B | 256.68 | 9.87 | 3.8% | 166.55 |
| Dover Corporation | DOV | $30.8B |
| - |
| - |
| - |
| - |
| - |
| - |
| 27.67 |
| 4.09 |
| 14.8% |
| 17.26 |
| United Airlines Holdings, Inc. | UAL | $30.1B | 9.00 | 1.98 | 21.9% | 6.57 |
| Xylem Inc. | XYL | $29.6B | 30.86 | 2.57 | 8.3% | 16.87 |
| Hubbell Incorporated | HUBB | $29.5B | 33.14 | 7.64 | 23.1% | 22.61 |
| Verisk Analytics, Inc. | VRSK | $24.8B | 25.61 | 75.29 | 293.9% | 15.57 |
| Peer Median | - | 29.26 | 3.78 | 15.8% | 17.07 | |