Otis Worldwide Corporation OTIS

IndustrialsMachinery, Tools, Heavy Vehicles, Trains & ShipsUnited States of America

Last close 75.75 USD on Nov 1, 2026, −11.8% year to date

Quant rating

Quant rating C Rank 209 of 486 in Industrials

Growth C 296 of 486
Valuation B 128 of 486
Quality B 179 of 486
Revisions C 276 of 486
Momentum C 211 of 486

Wall Street consensus Hold (2.53)Average target 85.96 USD +13.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 28.8B
Enterprise value: 36.5B
52-week range: 63.58 – 94.50
3-year range: 63.58 – 106.01
Dividend yield: 2.32%
Beta (5 years): 0.90
Shares outstanding: 381M
Next earnings: Jan 28, 2027

About the company

Otis Worldwide Corporation is an elevator and escalator manufacturing, installation and service company. The Company’s segments include New Equipment and Service. The New Equipment segment designs, manufactures, sells and installs a range of passenger and freight elevators, and escalators and moving walkways for residential, commercial and infrastructure projects. Its elevator and escalator solutions include Gen2, Gen3, Gen360 and SkyRise. Through its Service segment, it performs maintenance and repair services, and modernization services to upgrade elevators and escalators. Through its network of service sales personnel, it sells its services directly to customers in all significant elevator and escalator verticals around the world. It serves customers in over 200 countries and territories around the world. The SkyRise advanced elevator platform combines cutting-edge technologies and precision engineering to deliver solutions for residential, commercial and mixed-use skyscrapers.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	14,431	14,261	14,209	13,685	14,298	–
Revenue growth	1.2%	0.4%	3.8%	−4.3%	12.1%	2.5%
EPS (basic, normalized)	4.05	3.83	3.54	3.17	3.01	–
EPS growth	5.7%	8.2%	11.7%	5.3%	–	–
Gross margin	30.3%	29.9%	29.5%	28.6%	29.3%	29.5%
Net margin	9.6%	11.5%	9.9%	9.2%	8.7%	9.8%
ROE	–	–	–	–	–	–

Balance sheet, last quarter
Cash & short-term investments (mil)	866
Current ratio	0.86x
Long-term debt (mil)	7,051
Net debt (mil)	7,681
Total equity (mil)	−5,430
Net debt / equity	−1.41x
Net debt / EBITDA	2.94x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	14,431	+1.2%	2.5x	2,609	+5.4%	14.0x	4.05	+5.7%	18.7x
2026	15,331	+6.2%	2.4x	2,574	−1.3%	14.2x	4.07	+0.5%	18.6x
2027	16,012	+4.4%	2.3x	2,796	+8.6%	13.1x	4.53	+11.3%	16.7x
2028	16,824	+5.1%	2.2x	3,018	+8.0%	12.1x	5.04	+11.4%	15.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	15,331	+0.3%	+0.6%	+1.1%	4.07	−0.1%	−0.3%	−2.4%
2027	16,012	+0.1%	+0.4%	+0.7%	4.53	−0.1%	+0.1%	−3.1%
2028	16,824	+0.1%	+0.5%	+1.2%	5.04	−0.2%	+0.6%	−2.2%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	3,437	3,601	3,548	3,675	3,350	3,595	3,690	3,796	3,566	3,859
Sales mean (mil)	3,455	3,727	3,587	3,629	3,369	3,706	3,648	3,880	3,499	3,760
Surprise	−0.5%	−3.4%	−1.1%	+1.3%	−0.6%	−3.0%	+1.1%	−2.2%	+1.9%	+2.6%
EPS reported	0.88	1.06	0.96	0.93	0.92	1.05	1.05	1.03	0.89	1.01
EPS mean	0.87	1.03	0.97	0.95	0.91	1.03	1.00	1.04	0.89	1.01
Surprise	+1.1%	+3.3%	−0.7%	−2.3%	+1.1%	+2.0%	+5.0%	−0.5%	+0.1%	−0.1%

Peer comparison Machinery, Tools, Heavy Vehicles, Trains & Ships

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
OTIS Otis Worldwide Corporation	28.8B	2.94x	9.6%	−5.31x	18.6x	16.7x	14.2x	13.1x
CAT Caterpillar Inc	286.3B	2.87x	13.1%	13.33x	22.8x	19.2x	18.4x	15.7x
DE Deere & Co	182.1B	6.48x	11.0%	6.51x	37.3x	29.7x	32.2x	27.3x
ETN Eaton Corporation PLC	143.7B	2.91x	14.9%	7.09x	27.2x	22.9x	20.9x	17.8x
PH Parker-Hannifin Corporation	113.5B	1.43x	17.0%	7.36x	25.3x	22.8x	17.9x	16.4x
TT Trane Technologies PLC	89.7B	0.70x	13.9%	9.86x	26.8x	23.2x	19.2x	16.7x
Mean		2.89x	13.2%	6.47x	26.3x	22.4x	20.5x	17.8x
Median		2.89x	13.5%	7.23x	26.1x	22.8x	18.8x	16.6x

Technical analysis

1M+14.2%
3M+3.5%
1Y−15.2%
3Y+5.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Otis Worldwide Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	14,431	14,261	14,209	13,685	14,298	12,756
Cost of revenue	10,061	10,004	10,016	9,765	10,105	8,977
Gross profit	4,370	4,257	4,193	3,920	4,193	3,779
Selling, general & administrative expenses	1,893	1,818	1,823	1,724	1,887	1,750
Research & development	152	152	144	150	159	152
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	227	256	61.0	39.0	61.0	191
Other operating expenses	−35.0	23.0	−21.0	−26.0	−22.0	47.0
Operating income	2,133	2,008	2,186	2,033	2,108	1,639
Net interest income (expense)	−196	31.0	−150	−143	−136	−122
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−3.0	0	−5.0	−2.0	−11.0	−6.0
Net income before taxes	1,934	2,039	2,031	1,888	1,961	1,511
Provision for taxes	479	305	533	519	541	455
Minority interest	−71.0	−89.0	−92.0	−116	−174	−150
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	1,384	1,645	1,406	1,253	1,246	906
Extraordinary items	–	–	–	–	–	–
Net income	1,384	1,645	1,406	1,253	1,246	906
EBIT, normalized	2,404	2,292	2,253	2,094	2,191	1,923
EBITDA, normalized	2,579	2,474	2,446	2,285	2,394	2,114
Basic EPS, normalized	4.05	3.83	3.54	3.17	3.01	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Otis Worldwide Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	1,096	2,300	1,274	1,189	1,565	1,782
Receivables	4,387	4,134	4,255	4,021	3,782	3,606
Total inventory	613	557	612	617	622	659
Prepaid expenses	–	–	–	–	–	–
Other current assets	405	679	259	316	2,292	446
Total current assets	6,501	7,670	6,400	6,143	8,261	6,493
Property, plant & equipment	1,297	1,123	1,143	1,168	1,300	1,316
Goodwill	1,695	1,548	1,588	1,567	1,667	1,773
Intangibles	343	311	335	369	419	484
Long-term investments	–	–	–	–	–	–
Note receivable	407	302	323	285	335	334
Other long-term assets	410	362	328	287	297	310
Total assets	10,653	11,316	10,117	9,819	12,279	10,710
Liabilities
Accounts payable	2,142	1,879	1,878	1,717	1,556	1,453
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,663	1,714	1,616	1,579	1,754	1,875
Short-term debt	215	51.0	0	94.0	0	701
Current portion of long-term debt	841	1,300	32.0	576	24.0	–
Other current liabilities	2,795	2,805	2,953	2,877	2,913	2,644
Total current liabilities	7,656	7,749	6,479	6,843	6,247	6,673
Long-term debt	6,900	6,973	6,866	6,098	7,249	5,262
Minority interest	121	120	204	206	641	631
Other liabilities	1,368	1,322	1,492	1,542	1,767	1,976
Total liabilities	16,045	16,164	15,041	14,689	15,904	14,542
Shareholders' equity
Preferred stock	–	–	–	–	–	0
Common stock	333	265	213	162	119	59.0
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	−440	−978	−2,005	−2,865	−2,256	−3,076
Treasury stock	−4,198	−3,390	−2,382	−1,575	−725	–
Other equity	−1,087	−745	−750	−592	−763	−815
Total equity	−5,392	−4,848	−4,924	−4,870	−3,625	−3,832
Total liabilities & shareholders' equity	10,653	11,316	10,117	9,819	12,279	10,710

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Otis Worldwide Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,455	1,734	1,498	1,369	1,420	1,056
Depreciation, depletion & amortization	175	181	193	191	203	191
Deferred taxes	−104	−31.0	−61.0	−16.0	−92.0	−51.0
Non-cash items	80.0	23.0	64.0	67.0	65.0	134
Changes in working capital	−10.0	−344	−67.0	−51.0	154	150
Cash from operations	1,596	1,563	1,627	1,560	1,750	1,480
Investing activities
Capital expenditures	−152	−126	−138	−115	−156	−183
Other investing cash flows	−254	−38.0	−45.0	82.0	67.0	−170
Cash from investing	−406	−164	−183	−33.0	−89.0	−353
Financing activities
Financing cash flow items	−307	−129	−111	−148	−199	−6,531
Cash dividends paid	−647	−606	−539	−465	−393	−260
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−1,467	426	−700	−3,039	650	5,947
Cash from financing	−2,421	−309	−1,350	−3,652	58.0	−844
Foreign exchange effects	15.0	−49.0	−9.0	−157	−43.0	59.0
Net change in cash	−1,216	1,041	85.0	−2,282	1,676	342
Free cash flow	1,444	1,437	1,489	1,445	1,594	1,297

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.