Otis Worldwide (OTIS) FY2022 results: revenue $13.7 billion, down 4.3% on the year
Otis Worldwide Corp. (OTIS) reported revenue of $13.7 billion for fiscal 2022, the year ended 31 December 2022, down 4.3% on the year before. Net income was $1.3 billion, up 0.6%, and diluted earnings per share $2.96. The figures are the company's own, from the 10-K it filed with the SEC on 3 February 2023.
Revenue
$13.7 billion
-4.3% on the year
FY2018FY2022
Operating margin
14.9%
14.7% a year earlier
FY2018FY2022
Net income
$1.3 billion
+0.6% on the year
FY2018FY2022
Diluted EPS
$2.96
+2.4% on the year
FY2018FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,560
1,750
1,480
-10.9%
Capital expenditure
115
156
183
-26.3%
Free cash flow
1,445
1,594
1,297
-9.3%
Free cash flow margin
10.6%
11.1%
10.2%
Cash from investing
-33.0
-89.0
-353
Cash from financing
-3,652
58.0
-844
Depreciation and amortisation
191
203
191
-5.9%
Share-based compensation
67.0
65.0
63.0
+3.1%
Buybacks
850
725
0.0
+17.2%
Dividends paid
465
393
260
+18.3%
Dividend per share
$1.11
$0.92
$0.60
+20.7%
Diluted shares, weighted
423m
431m
435m
-1.9%
Shares outstanding at period end
436m
435m
433m
+0.2%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
-4,870
-3,625
-3,862
Non-controlling interest
71.0
481
467
-85.2%
Redeemable equity
135
160
194
-15.6%
Short-term borrowings
n/a
24.0
n/a
Debt
6,768
7,249
5,963
-6.6%
Operating lease liabilities
315
336
367
-6.2%
Other liabilities
7,400
7,654
7,581
-3.3%
Total liabilities and equity
9,819
12,279
10,710
-20.0%
Fixed assets
719
774
774
-7.1%
Goodwill
1,567
1,667
1,773
-6.0%
Intangible assets
369
419
484
-11.9%
Cash and equivalents
1,189
1,565
1,782
-24.0%
Receivables
3,357
3,232
3,148
+3.9%
Inventory
617
622
659
-0.8%
Other assets
2,001
4,000
2,090
-50.0%
Total assets
9,819
12,279
10,710
-20.0%
10-K for the year ended 31 December 2022, filed 3 February 2023: the filing.