Otis Worldwide Corp (OTIS) financial statements: income statement, balance sheet and cash flow
Otis Worldwide Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Otis Worldwide Corp reported revenue of $14.4B (+1.2% year on year) and net income of $1.9B (-5.1% year on year).
Income statement
Otis Worldwide Corp income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net sales
$14.4B
$14.3B
$14.2B
$13.7B
Cost of sales
$10.1B
$10.0B
$10.0B
$9.8B
Research and development
$152.0M
$152.0M
$144.0M
$150.0M
Selling, general and administrative
$2.0B
$1.9B
$1.9B
$1.8B
Costs and expenses
$12.2B
$12.0B
$12.0B
$11.7B
Other income (expense), net
($106.0M)
($236.0M)
$21.0M
$26.0M
Operating profit
$2.1B
$2.0B
$2.2B
$2.0B
Non-service pension cost (benefit)
$3.0M
$0
$5.0M
$2.0M
Interest expense (income), net
$196.0M
($31.0M)
$150.0M
$143.0M
Net income before income taxes
$1.9B
$2.0B
$2.0B
$1.9B
Income tax expense
$479.0M
$305.0M
$533.0M
$519.0M
Net income
$1.5B
$1.7B
$1.5B
$1.4B
Less: Noncontrolling interest in subsidiaries' earnings
$71.0M
$89.0M
$92.0M
$116.0M
Net income attributable to Otis Worldwide Corporation
$1.4B
$1.6B
$1.4B
$1.3B
Basic (in usd per share)
$3.52
$4.10
$3.42
$2.98
Diluted (in usd per share)
$3.50
$4.07
$3.39
$2.96
Basic shares (in shares)
392.8M
401.7M
411.4M
420.0M
Diluted shares (in shares)
394.9M
404.4M
414.6M
423.0M
Otis Worldwide Corp income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Net sales
$3.9B
$3.6B
$3.7B
$3.6B
Cost of sales
$2.7B
$2.5B
$2.6B
$2.5B
Research and development
$39.0M
$38.0M
$36.0M
$38.0M
Selling, general and administrative
$520.0M
$510.0M
$504.0M
$499.0M
Costs and expenses
$3.3B
$3.0B
$3.1B
$3.0B
Other income (expense), net
($2.0M)
$5.0M
($7.0M)
($5.0M)
Operating profit
$575.0M
$539.0M
$586.0M
$547.0M
Non-service pension cost (benefit)
$2.0M
$0
$4.0M
$0
Interest expense (income), net
$26.0M
$59.0M
$61.0M
$26.0M
Net income before income taxes
$547.0M
$480.0M
$521.0M
$521.0M
Income tax expense (benefit)
$98.0M
$127.0M
$129.0M
$98.0M
Net income
$449.0M
$353.0M
$392.0M
$423.0M
Less: Noncontrolling interest in subsidiaries' earnings
$21.0M
$13.0M
$18.0M
$30.0M
Net income attributable to Otis Worldwide Corporation
$428.0M
$340.0M
$374.0M
$393.0M
Basic (in usd per share)
$1.12
$0.88
$0.96
$1.00
Diluted (in usd per share)
$1.12
$0.87
$0.95
$0.99
Basic shares (in shares)
382.6M
388.1M
391.0M
393.7M
Diluted shares (in shares)
383.5M
389.6M
392.8M
395.8M
Balance sheet
Otis Worldwide Corp balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$1.1B
$2.3B
$1.3B
$1.2B
Accounts receivable (net of allowance for expected credit losses of $125 and $125)
$3.7B
$3.4B
$3.5B
$3.4B
Contract assets
$699.0M
$706.0M
$717.0M
$664.0M
Inventories
$613.0M
$557.0M
$612.0M
$617.0M
Other current assets
$405.0M
$679.0M
$259.0M
$311.0M
Total Current Assets
$6.5B
$7.7B
$6.4B
$6.1B
Future income tax benefits
$407.0M
$302.0M
$323.0M
$285.0M
Fixed assets, net
$743.0M
$701.0M
$727.0M
$719.0M
Operating lease right-of-use assets
$554.0M
$422.0M
$416.0M
$449.0M
Intangible assets, net
$343.0M
$311.0M
$335.0M
$369.0M
Goodwill
$1.7B
$1.5B
$1.6B
$1.6B
Other assets
$410.0M
$362.0M
$328.0M
$287.0M
Total Assets
$10.7B
$11.3B
$10.1B
$9.8B
Short-term borrowings and current portion of long-term debt
$1.1B
$1.4B
$32.0M
$670.0M
Accounts payable
$2.1B
$1.9B
$1.9B
$1.7B
Accrued liabilities
$1.8B
$1.9B
$1.9B
$1.8B
Contract liabilities
$2.6B
$2.6B
$2.7B
$2.7B
Total Current Liabilities
$7.7B
$7.7B
$6.5B
$6.8B
Long-term debt
$6.9B
$7.0B
$6.9B
$6.1B
Future pension and postretirement benefit obligations
$419.0M
$434.0M
$462.0M
$392.0M
Operating lease liabilities
$397.0M
$298.0M
$292.0M
$315.0M
Future income tax obligations
$223.0M
$207.0M
$245.0M
$279.0M
Other long-term liabilities
$329.0M
$383.0M
$493.0M
$556.0M
Total Liabilities
$15.9B
$16.0B
$14.8B
$14.5B
Redeemable noncontrolling interest
$75.0M
$57.0M
$135.0M
$135.0M
Common Stock and additional paid-in-capital
$333.0M
$265.0M
$213.0M
$162.0M
Treasury Stock
($4.2B)
($3.4B)
($2.4B)
($1.6B)
Accumulated deficit
($440.0M)
($978.0M)
($2.0B)
($2.9B)
Accumulated other comprehensive income (loss)
($1.1B)
($745.0M)
($750.0M)
($592.0M)
Total Shareholders' Equity (Deficit)
($5.4B)
($4.8B)
($4.9B)
($4.9B)
Noncontrolling interest
$46.0M
$63.0M
$69.0M
$71.0M
Total Equity (Deficit)
($5.3B)
($4.8B)
($4.9B)
($4.8B)
Total Liabilities and Equity (Deficit)
$10.7B
$11.3B
$10.1B
$9.8B
Otis Worldwide Corp balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$813.0M
$834.0M
$840.0M
$688.0M
Accounts receivable (net of allowance for expected credit losses of $129 and $125)
$4.0B
$3.9B
$3.8B
$3.7B
Contract assets
$824.0M
$751.0M
$803.0M
$769.0M
Inventories
$686.0M
$669.0M
$640.0M
$602.0M
Other current assets
$531.0M
$290.0M
$577.0M
$632.0M
Total Current Assets
$6.8B
$6.5B
$6.6B
$6.4B
Future income tax benefits
$426.0M
$400.0M
$411.0M
$392.0M
Fixed assets (net of accumulated depreciation of $1,291 and $1,261)
$755.0M
$744.0M
$742.0M
$732.0M
Operating lease right-of-use assets
$580.0M
$552.0M
$566.0M
$530.0M
Intangible assets, net
$387.0M
$333.0M
$348.0M
$357.0M
Goodwill
$1.8B
$1.7B
$1.7B
$1.7B
Other assets
$375.0M
$367.0M
$393.0M
$390.0M
Total Assets
$11.2B
$10.5B
$10.8B
$10.5B
Short-term borrowings and current portion of long-term debt
$1.4B
$939.0M
$492.0M
$675.0M
Accounts payable
$2.1B
$2.0B
$1.8B
$1.7B
Accrued liabilities
$1.7B
$1.7B
$2.0B
$2.0B
Contract liabilities
$3.0B
$3.1B
$2.8B
$2.8B
Total Current Liabilities
$8.2B
$7.7B
$7.1B
$7.2B
Long-term debt
$7.0B
$6.9B
$7.6B
$7.1B
Future pension and postretirement benefit obligations
$411.0M
$416.0M
$458.0M
$454.0M
Operating lease liabilities
$410.0M
$400.0M
$404.0M
$375.0M
Future income tax obligations
$196.0M
$225.0M
$210.0M
$211.0M
Other long-term liabilities
$322.0M
$333.0M
$328.0M
$339.0M
Total Liabilities
$16.6B
$16.0B
$16.1B
$15.7B
Redeemable noncontrolling interest
$106.0M
$74.0M
$67.0M
$66.0M
Common Stock and additional paid-in capital
$353.0M
$332.0M
$320.0M
$300.0M
Treasury Stock
($5.0B)
($4.6B)
($4.2B)
($3.9B)
Accumulated deficit
($117.0M)
($378.0M)
($453.0M)
($663.0M)
Accumulated other comprehensive income (loss)
($979.0M)
($1.0B)
($1.1B)
($1.1B)
Total Shareholders' Equity (Deficit)
($5.7B)
($5.7B)
($5.4B)
($5.4B)
Noncontrolling interest
$188.0M
$171.0M
$69.0M
$97.0M
Total Equity (Deficit)
($5.6B)
($5.5B)
($5.4B)
($5.3B)
Total Liabilities and Equity (Deficit)
$11.2B
$10.5B
$10.8B
$10.5B
Cash flow statement
Otis Worldwide Corp cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$1.5B
$1.7B
$1.5B
$1.4B
Depreciation and amortization
$175.0M
$181.0M
$193.0M
$191.0M
Deferred income tax expense (benefit)
($104.0M)
($31.0M)
($61.0M)
($16.0M)
Stock compensation cost
$80.0M
$73.0M
$64.0M
$67.0M
Gain from reversal of German Tax Litigation interest accrual (Note 1)
$0
($50.0M)
—
—
Accounts receivable, net
($111.0M)
($68.0M)
($239.0M)
($309.0M)
Contract assets and liabilities, current
($71.0M)
($40.0M)
($30.0M)
$38.0M
Inventories
($25.0M)
$26.0M
$15.0M
($65.0M)
Other current assets
$225.0M
($354.0M)
$38.0M
$52.0M
Accounts payable
$181.0M
$57.0M
$152.0M
$272.0M
Accrued liabilities
($140.0M)
$85.0M
$33.0M
($84.0M)
Pension and postretirement contributions
($43.0M)
($51.0M)
($48.0M)
($34.0M)
Other operating activities, net
($26.0M)
$1.0M
$12.0M
$79.0M
Net cash flows provided by operating activities
$1.6B
$1.6B
$1.6B
$1.6B
Capital expenditures
($152.0M)
($126.0M)
($138.0M)
($115.0M)
Acquisitions of businesses and intangible assets, net of cash (Note 7)
($109.0M)
($87.0M)
($36.0M)
($46.0M)
Net proceeds from the sale of fixed assets
$60.0M
—
—
—
Proceeds from sale of (investments in) marketable securities, net
$0
($9.0M)
$4.0M
—
Receipts (payments) on settlements of derivative contracts, net
($204.0M)
$49.0M
($28.0M)
$65.0M
Other investing activities, net
($1.0M)
$9.0M
$15.0M
$9.0M
Net cash flows provided by (used in) investing activities
($406.0M)
($164.0M)
($183.0M)
($33.0M)
Net proceeds from (repayments of) borrowings (maturities of 90 days or less)
($25.0M)
$11.0M
($113.0M)
$113.0M
Proceeds from borrowings (maturities longer than 90 days)
$167.0M
—
$0
$0
Proceeds from issuance of long-term debt
$500.0M
$1.5B
$747.0M
$0
Payment of debt issuance costs
($5.0M)
($11.0M)
($6.0M)
$0
Repayment of long-term debt
($1.3B)
$0
($534.0M)
($500.0M)
Dividends paid on Common Stock
($647.0M)
($606.0M)
($539.0M)
($465.0M)
Repurchases of Common Stock
($809.0M)
($1.0B)
($800.0M)
($850.0M)
Acquisition of noncontrolling interest shares (Note 1)
-217.0M
-75.0M
0
-1.8B
Dividends paid to noncontrolling interest
($69.0M)
($94.0M)
($85.0M)
($118.0M)
Other financing activities, net
($16.0M)
($24.0M)
($20.0M)
($30.0M)
Net cash flows provided by (used in) financing activities
($2.4B)
($309.0M)
($1.4B)
($3.7B)
Effect of foreign exchange rate changes on cash and cash equivalents
$15.0M
($49.0M)
($9.0M)
($157.0M)
Net increase (decrease) in cash and cash equivalents
($1.2B)
$1.0B
$85.0M
($2.3B)
Cash, cash equivalents and restricted cash, beginning of year
$2.3B
$1.3B
$1.2B
$3.5B
Cash, cash equivalents and restricted cash, end of year
$1.1B
$2.3B
$1.3B
$1.2B
Less: Restricted cash
$9.0M
$21.0M
$6.0M
$6.0M
Cash and cash equivalents, end of period
$1.1B
$2.3B
$1.3B
$1.2B
Interest paid
$230.0M
$172.0M
$132.0M
$134.0M
Otis Worldwide Corp cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$802.0M
$353.0M
$1.1B
$679.0M
Depreciation and amortization
$83.0M
$41.0M
$130.0M
$86.0M
Deferred income tax expense (benefit)
($38.0M)
$4.0M
($102.0M)
($74.0M)
Stock compensation cost
$39.0M
$19.0M
$63.0M
$44.0M
Accounts receivable, net
($300.0M)
($229.0M)
($191.0M)
($146.0M)
Contract assets and liabilities, current
$284.0M
$432.0M
$16.0M
$70.0M
Inventories
($79.0M)
($58.0M)
($52.0M)
($15.0M)
Other current assets
$67.0M
$137.0M
$76.0M
$10.0M
Accounts payable
($48.0M)
($176.0M)
($193.0M)
($212.0M)
Accrued liabilities
($68.0M)
($117.0M)
$21.0M
$23.0M
Pension contributions
($21.0M)
($11.0M)
($36.0M)
($27.0M)
Other operating activities, net
($41.0M)
$18.0M
($24.0M)
($33.0M)
Net cash flows provided by (used in) operating activities
$680.0M
$413.0M
$779.0M
$405.0M
Capital expenditures
($77.0M)
($33.0M)
($107.0M)
($70.0M)
Acquisitions of businesses and intangible assets, net of cash (Note 5)
($193.0M)
($3.0M)
($92.0M)
($82.0M)
Net proceeds from the sale of fixed assets
$0
—
$35.0M
$34.0M
Purchase of short-term investments
($84.0M)
—
—
—
Receipts (payments) on settlements of derivative contracts
$35.0M
$49.0M
($211.0M)
($200.0M)
Other investing activities, net
$3.0M
$2.0M
($1.0M)
($2.0M)
Net cash flows provided by (used in) investing activities
($316.0M)
$15.0M
($376.0M)
($320.0M)
Net proceeds from (repayments of) borrowings (maturities of 90 days or less)
($33.0M)
$29.0M
$248.0M
$473.0M
Proceeds from issuance of long-term debt
$700.0M
—
$500.0M
—
Payment of debt issuance costs
($5.0M)
—
($5.0M)
—
Repayment of long-term debt
($135.0M)
($135.0M)
($1.3B)
($1.3B)
Dividends paid on Common Stock
($330.0M)
($163.0M)
($483.0M)
($319.0M)
Repurchases of Common Stock
($807.0M)
($400.0M)
($809.0M)
($561.0M)
Acquisition of noncontrolling interest shares
-10.0M
-10.0M
0
0
Dividends paid to noncontrolling interest
($7.0M)
($3.0M)
($62.0M)
($5.0M)
Other financing activities, net
$6.0M
($12.0M)
($11.0M)
($10.0M)
Net cash flows provided by (used in) financing activities
($621.0M)
($694.0M)
($1.9B)
($1.7B)
Effect of exchange rate changes on cash and cash equivalents
$1.0M
$5.0M
$19.0M
$19.0M
Net increase (decrease) in cash, cash equivalents and restricted cash
($256.0M)
($261.0M)
($1.5B)
($1.6B)
Cash, cash equivalents and restricted cash, beginning of year
$1.1B
$1.1B
$2.3B
$2.3B
Cash, cash equivalents and restricted cash, end of period