Otis Worldwide
Financial Performance
Otis Worldwide Revenue & Financials
Revenue
$14.4B (FY2024)
Market Cap
$40.5B
Employees
71,000
What is Otis Worldwide's revenue?
Otis Worldwide had $14.4B in revenue for fiscal year 2024, up 1.3% from 2023.
- Latest revenue
- $14.4B (FY2024)
- Year-over-year
- +1.3%
- Growth rate (CAGR)
- 0.2% over 3 years
- Peak revenue
- $14.4B (FY2024)
- Years of data
- 4
- Employees
- 71,000
- How many employees does Otis Worldwide have?
- Otis Worldwide has about 71,000 employees.
Financial Analysis
Otis delivers outstanding, defensive financial performance characterized by steady mid-single-digit organic growth, expanding operating profit margins, and exceptional free cash flow conversion. In fiscal 2024, Otis generated net sales of $14.4 billion, driven by high-single-digit growth in Service and Modernization revenues that more than offset softness in Chinese new residential equipment installations. Adjusted operating profit reached $2.35 billion, with operating margin expanding to an elite 16.3%, reflecting strong service pricing and productivity. Otis converts approximately 100% of net income into free cash flow, generating $1.5 billion in free cash. Otis directs this cash into continuous shareholder returns, increasing dividends annually and executing extensive multi-million-dollar share buybacks.
Revenue Trend Analysis
YoY Change
+1.3%
3-Year CAGR
+0.2%
Peak Year
2024
Trend
Mostly Growing
Otis Worldwide has 4 full fiscal year figures on this page, compounding at +0.2% annually over 3 years. The most recent year saw a 1.3% increase versus the prior year. Annual revenue peaked in fiscal year 2024 at $14.4B. Of 3 comparable year-over-year steps, 2 showed growth and 1 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | YoY Change |
|---|---|---|
| FY2024 | $14.4B | +1.3% |
| FY2023 | $14.2B | +3.8% |
| FY2022 | $13.7B | -4.3% |
| FY2021 | $14.3B | — |
Click any row to see year details.
Keep researching Otis Worldwide
Otis Worldwide Revenue and Financial FAQ
What was Otis Worldwide's revenue in 2024?
Otis Worldwide achieved $14.40 billion in revenue for fiscal year 2024.
Is Otis Worldwide profitable?
Otis Worldwide's financial performance balances disciplined operating profitability with strategic reinvestment into engineering, infrastructure, and international sales expansion.
How fast is Otis Worldwide growing?
Otis Worldwide has achieved solid compound annual revenue growth supported by strong enterprise customer retention and expanding average contract values.
How does Otis Worldwide fund its capital expenditures?
Otis Worldwide funds capital outlays through operating cash flows, institutional credit facilities, and equity capital reserves.
What is Otis Worldwide's debt profile?
Otis Worldwide maintains a conservative debt-to-capitalization profile, prioritizing financial flexibility and low interest obligations.
Where does Otis Worldwide reinvest its profits?
Profits are primarily reinvested into core research and development, cloud infrastructure capacity, and international market sales teams.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Otis Worldwide Revenue & Financials." CorpDigest, https://corpdigest.com/company/otis-worldwide/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Otis Worldwide reported $14.4B in revenue (FY2024).</strong><br>Source: <a href="https://corpdigest.com/company/otis-worldwide/financials" target="_blank" rel="noopener">CorpDigest — Otis Worldwide financials</a></div>Explore Otis Worldwide
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