Company file · OTIS
Otis Worldwide
Otis Worldwide's revenue rose 1.2% in FY2025, to $14.4B, and net income fell 15.9% to $1.4B
Revenue rose 1.2% to $14.4B in FY2025, from $14.3B in FY2024. Net income fell 15.9% to $1.4B. Services was the largest segment, at 65% of revenue.
Key facts
In fiscal 2025, which ended Dec 31, 2025, Otis Worldwide (NYSE: OTIS) took in $14.4B of revenue (up 1.2% on fiscal 2024); net income was $1.4B (down 15.9%). The most recent quarter, ended Sep 30, 2026, brought revenue of $3.9B, up 6.1% year over year, with net income of $414M. Services was the biggest single line by segment: 65% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 5, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 29, 2026).
Source: 10-K FY2025, filed Feb 5, 2026
Source: 10-Q filed Apr 23, 2026 · 10-Q filed Jul 23, 2026 · 10-Q filed Oct 29, 2026
How it makes money
By segment, FY2025
Source: 10-K FY2025, XBRL breakdown
By segment in FY2025: Services (65%) and New Equipment (35%), as shares of total revenue. Total revenue was $14.4B.
Source: 10-K FY2025
By product or service, FY2025
Share is of the FY2025 total; the last column is the change from FY2024.
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
Source: Otis Worldwide 10-Q for the quarter ended Sep 30, 2026, filed Oct 29, 2026
By segment
Source: Otis Worldwide 10-Q for the quarter ended Sep 30, 2026, filed Oct 29, 2026
The bull case and the bear case
The bull case
- Revenue rose 1.2% in FY2025 to $14.4B, from $14.3B a year earlier. 10-K, FY2025
- Operating cash flow rose 2.1% in FY2025 to $1.6B. 10-K, FY2025
- Diluted shares fell 2.3% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
- Total debt fell 4.4% in FY2025 to $8.0B. 10-K, FY2025
The bear case
- Net income fell 15.9% in FY2025 to $1.4B, from $1.6B. 10-K, FY2025
- New Equipment revenue fell 7.0% in FY2025 to $5.0B. 10-K, FY2025
- Products revenue fell 7.0% in FY2025 to $5.0B. 10-K, FY2025
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Otis Worldwide is in the industrial machinery & supplies & components industry, part of the industrials sector. The SEC files it under Electronic & Other Electrical Equipment (No Computer Equip).
Otis Worldwide reports 2 segments: Services and New Equipment.
Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the industrial machinery & supplies & components industry. They are not a summary of Otis Worldwide’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Economic cyclesDemand for equipment and services rises and falls with business investment.
- Costs and supplyMaterial, labor and supplier problems can raise costs or delay delivery.
- Trade and tariffsTariffs and trade policy affect costs and sales.
- Contracts and backlogLarge projects and government contracts can be delayed, cut or repriced.
- Regulation and liabilitySafety, environmental and product-liability rules can raise costs.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $14.2B | $14.3B | $14.4B |
| Net income | $1.4B | $1.6B | $1.4B |
| Operating cash flow | $1.6B | $1.6B | $1.6B |
| Cash & equivalents (year end) | $1.3B | $2.3B | $1.1B |
| Total debt (year end) | $6.9B | $8.3B | $8.0B |
| Diluted shares | 415M | 404M | 395M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: Debt due within one year plus long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Segment reporting
- Net debt and net cash
- Debt-to-equity ratio
- Risk factors (Item 1A)
- The cash flow statement
- Stock splits, explained
- Cash conversion
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Oct 29, 2026 | Sep 30, 2026 |
| 10-Q | Jul 23, 2026 | Jun 30, 2026 |
| 10-Q | Apr 23, 2026 | Mar 31, 2026 |
| DEF 14A | Apr 17, 2026 | May 27, 2026 |
| 10-K | Feb 5, 2026 | Dec 31, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Otis Worldwide
How does Otis Worldwide make money?
In fiscal 2025, revenue totaled $14.4B. By segment in FY2025: Services (65%) and New Equipment (35%), as shares of total revenue. Total revenue was $14.4B. Source: 10-K for fiscal 2025, filed Feb 5, 2026.
What was Otis Worldwide's revenue in fiscal 2025?
Revenue came to $14.4B in the year ended Dec 31, 2025. Going back two years, it was $14.2B in fiscal 2023 and $14.3B in fiscal 2024, so the latest year was up 1.2%. Source: 10-K for fiscal 2025, filed Feb 5, 2026.
Is Otis Worldwide profitable?
Yes, by US accounting rules (GAAP): net income was $1.4B in fiscal 2025, down 15.9% from $1.6B a year earlier. For the quarter ended Sep 30, 2026, net income was $414M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 5, 2026.
What did Otis Worldwide report in its latest quarterly filing?
The 10-Q for the quarter ended Sep 30, 2026 shows revenue of $3.9B, against $3.7B in the same quarter a year before (up 6.1%), and net income of $414M, against $374M (up 10.7%). Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 29, 2026.
How much cash and debt does Otis Worldwide have?
On Sep 30, 2026, cash and cash equivalents stood at $866M and total debt at $8.3B. Total debt here is debt due within one year plus long-term debt, at carrying value. Source: 10-Q filed Oct 29, 2026.
What are the main risks Otis Worldwide faces?
Otis Worldwide's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 5, 2026. Risks that are common among companies in the industrial machinery & supplies & components industry include Economic cycles; costs and supply; trade and tariffs; contracts and backlog; regulation and liability. The first: Demand for equipment and services rises and falls with business investment. Source: 10-K, Item 1A Risk Factors.
Where do these Otis Worldwide numbers come from?
Two filings Otis Worldwide made with the SEC: its fiscal 2025 10-K, filed Feb 5, 2026, and its 10-Q for the quarter ended Sep 30, 2026, filed Oct 29, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Otis Worldwide
- Two Sigma Investments: 3,138,794 shares, reported value $224.7M at Jun 30, 2026 (+62.0% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Citadel Advisors: 1,953,085 shares, reported value $139.8M at Jun 30, 2026 (+148.4% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Renaissance Technologies: 1,584,200 shares, reported value $113.4M at Jun 30, 2026 (−6.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 13, 2026.
- Millennium Management: 411,556 shares, reported value $29.5M at Jun 30, 2026 (+364.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Bridgewater Associates: 364,278 shares, reported value $26.1M at Jun 30, 2026 (+30.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Markel Group: 145,620 shares, reported value $9.4M at Sep 30, 2026 (+9.0% in shares since the filing for Jun 30, 2026). Form 13F filed Oct 30, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in OTIS
- The editor holds no position in Otis Worldwide (OTIS). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell OTIS from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 9, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold OTIS, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| Otis WorldwideOTIS | FY2025 | $14.4B | +1.2% | $1.4B |
| Parker HannifinPH | FY2026 | $21.5B | +8.3% | $3.6B |
| Illinois Tool WorksITW | FY2025 | $16.0B | +0.9% | $3.1B |
| W. W. GraingerGWW | FY2025 | $17.9B | +4.5% | $1.7B |
| Ingersoll RandIR | FY2025 | $7.7B | +5.7% | $581M |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.