Otis Worldwide (OTIS) financial statements
Otis Worldwide reported revenue of $14.4B in fiscal 2025, up 1.6% a year over 7 years.
Net income was $1.4B and the operating margin 14.8%, against 14.2% in 2018.
Free cash flow was $1.4B, and the company returned $647M in dividends and $809M in net buybacks.
The diluted share count fell 9% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Otis Worldwide's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.9B | $13.1B | $12.8B | $14.3B | $13.7B | $14.2B | $14.3B | $14.4B |
| Research and development | $181M | $163M | $152M | $159M | $150M | $144M | $152M | $152M |
| Selling, general and admin | $1.7B | $1.8B | $1.9B | $1.9B | $1.8B | $1.9B | $1.9B | $2.0B |
| Operating income | $1.8B | $1.8B | $1.6B | $2.1B | $2.0B | $2.2B | $2.0B | $2.1B |
| Interest expense | — | $0 | $124M | $136M | $140M | $155M | $183M | $217M |
| Pre-tax income | $1.9B | $1.9B | $1.5B | $2.0B | $1.9B | $2.0B | $2.0B | $1.9B |
| Income tax | $683M | $594M | $455M | $541M | $519M | $533M | $305M | $479M |
| Net income | $1.0B | $1.1B | $906M | $1.2B | $1.3B | $1.4B | $1.6B | $1.4B |
| EPS (diluted) | $2.42 | $2.55 | $2.08 | $2.89 | $2.96 | $3.39 | $4.07 | $3.50 |
| Diluted shares | 433M | 433M | 435M | 431M | 423M | 415M | 404M | 395M |
| Operating margin | 14.2% | 13.8% | 12.8% | 14.7% | 14.9% | 15.4% | 14.1% | 14.8% |
| Net margin | 8.1% | 8.5% | 7.1% | 8.7% | 9.2% | 9.9% | 11.5% | 9.6% |
Balance sheet
Fiscal years, from Otis Worldwide's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.3B | $1.4B | $1.8B | $1.6B | $1.2B | $1.3B | $2.3B | $1.1B |
| Receivables | — | $2.9B | $3.1B | $3.2B | $3.4B | $3.5B | $3.4B | $3.7B |
| Inventory | — | $571M | $659M | $622M | $617M | $612M | $557M | $613M |
| Total current assets | — | $5.7B | $6.5B | $8.3B | $6.1B | $6.4B | $7.7B | $6.5B |
| Property, plant and equipment | $678M | $721M | $774M | $774M | $719M | $727M | $701M | $743M |
| Goodwill | $1.7B | $1.6B | $1.8B | $1.7B | $1.6B | $1.6B | $1.5B | $1.7B |
| Total assets | — | $9.7B | $10.7B | $12.3B | $9.8B | $10.1B | $11.3B | $10.7B |
| Total current liabilities | — | $5.4B | $6.7B | $6.2B | $6.8B | $6.5B | $7.7B | $7.7B |
| Long-term debt | — | $5M | $5.3B | $7.2B | $6.1B | $6.9B | $7.0B | $6.9B |
| Total liabilities | — | $7.4B | $13.9B | $15.3B | $14.5B | $14.8B | $16.0B | $15.9B |
| Shareholders' equity | $2.0B | $1.7B | -$3.9B | -$3.6B | -$4.9B | -$4.9B | -$4.8B | -$5.4B |
| Net debt | -$1.3B | -$1.4B | $3.5B | $5.7B | $5.6B | $5.6B | $6.0B | $6.9B |
Cash flow
Fiscal years, from Otis Worldwide's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.6B | $1.5B | $1.5B | $1.8B | $1.6B | $1.6B | $1.6B | $1.6B |
| Capital spending | $172M | $145M | $183M | $156M | $115M | $138M | $126M | $152M |
| Free cash flow | $1.4B | $1.3B | $1.3B | $1.6B | $1.4B | $1.5B | $1.4B | $1.4B |
| Stock-based compensation | $38M | $37M | $63M | $65M | $67M | $64M | $73M | $80M |
| Dividends paid | $0 | $0 | $260M | $393M | $465M | $539M | $606M | $647M |
| Share buybacks (net) | — | $0 | $0 | -$725M | -$850M | -$800M | -$1.0B | -$809M |
| Net borrowing | $0 | $0 | $5.3B | $2.0B | -$500M | $213M | $1.5B | -$800M |
| Free cash flow margin | 10.7% | 10.1% | 10.2% | 11.1% | 10.6% | 10.5% | 10.1% | 10.0% |
| Dividends per share | — | — | $0.60 | $0.91 | $1.10 | $1.30 | $1.50 | $1.64 |
Questions
What was Otis Worldwide's revenue in 2025?
$14.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Otis Worldwide generate?
$1.4B in fiscal 2025 (operating cash flow minus capital spending).
From Otis Worldwide's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.