Otis Worldwide (OTIS) FY2024 results: revenue $14.3 billion, up 0.4% on the year
Otis Worldwide Corp. (OTIS) reported revenue of $14.3 billion for fiscal 2024, the year ended 31 December 2024, up 0.4% on the year before. Net income was $1.6 billion, up 17.0%, and diluted earnings per share $4.07. The figures are the company's own, from the 10-K it filed with the SEC on 4 February 2025.
Revenue
$14.3 billion
+0.4% on the year
FY2018FY2024
Operating margin
14.1%
15.4% a year earlier
FY2018FY2024
Net income
$1.6 billion
+17.0% on the year
FY2018FY2024
Diluted EPS
$4.07
+20.1% on the year
FY2018FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,563
1,627
1,560
-3.9%
Capital expenditure
126
138
115
-8.7%
Free cash flow
1,437
1,489
1,445
-3.5%
Free cash flow margin
10.1%
10.5%
10.6%
Cash from investing
-164
-183
-33.0
Cash from financing
-309
-1,350
-3,652
Depreciation and amortisation
181
193
191
-6.2%
Share-based compensation
73.0
64.0
67.0
+14.1%
Buybacks
1,007
800
850
+25.9%
Dividends paid
606
539
465
+12.4%
Dividend per share
$1.51
$1.31
$1.11
+15.3%
Diluted shares, weighted
404m
415m
423m
-2.5%
Shares outstanding at period end
439m
437m
436m
+0.4%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
-4,848
-4,924
-4,870
Non-controlling interest
63.0
69.0
71.0
-8.7%
Redeemable equity
57.0
135
135
-57.8%
Short-term borrowings
n/a
32.0
n/a
Debt
8,324
6,866
6,768
+21.2%
Operating lease liabilities
298
292
315
+2.1%
Other liabilities
7,422
7,647
7,400
-2.9%
Total liabilities and equity
11,316
10,117
9,819
+11.9%
Fixed assets
701
727
719
-3.6%
Goodwill
1,548
1,588
1,567
-2.5%
Intangible assets
311
335
369
-7.2%
Cash and equivalents
2,300
1,274
1,189
+80.5%
Receivables
3,428
3,538
3,357
-3.1%
Inventory
557
612
617
-9.0%
Other assets
2,471
2,043
2,001
+20.9%
Total assets
11,316
10,117
9,819
+11.9%
10-K for the year ended 31 December 2024, filed 4 February 2025: the filing.