Otis Worldwide Corporation (OTIS)

Otis Worldwide Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	14,206	14,209	13,685	14,298	12,756	13,118
Revenue Growth (YoY)	1.27%	3.83%	-4.29%	12.09%	-2.76%	1.57%
Cost of Revenue	9,944	10,010	9,743	10,083	8,955	9,292
Gross Profit	4,262	4,199	3,942	4,215	3,801	3,826
Selling, General & Admin	1,806	1,828	1,727	1,909	1,769	1,699
Research & Development	152	144	150	159	152	163
Other Operating Expenses	-22	-17	-31	-24	-38	11
Operating Expenses	1,936	1,955	1,846	2,044	1,883	1,873
Operating Income	2,326	2,244	2,096	2,171	1,918	1,953
Interest Expense	-162	-150	-143	-136	-122	-
Interest & Investment Income	-	-	-	-	-	14
Currency Exchange Gain (Loss)	10	20	16	9	-4	-9
EBT Excluding Unusual Items	2,174	2,114	1,969	2,044	1,792	1,958
Merger & Restructuring Charges	-128	-83	-60	-56	-77	-35
Gain (Loss) on Sale of Assets	-	-	-	-	-	-19
Asset Writedown	-18	-	-	-	-85	-
Other Unusual Items	17	-	-21	-27	-119	-43
Pretax Income	2,033	2,031	1,888	1,961	1,511	1,861
Income Tax Expense	308	533	519	541	455	594
Earnings From Continuing Operations	1,725	1,498	1,369	1,420	1,056	1,267
Minority Interest in Earnings	-94	-92	-116	-174	-150	-151
Net Income	1,631	1,406	1,253	1,246	906	1,116
Preferred Dividends & Other Adjustments	-	-	-	-	-	13
Net Income to Common	1,631	1,406	1,253	1,246	906	1,103
Net Income Growth	18.19%	12.21%	0.56%	37.53%	-18.82%	6.39%
Shares Outstanding (Basic)	404	411	420	428	433	433
Shares Outstanding (Diluted)	407	415	423	431	435	433
Shares Change (YoY)	-2.36%	-1.99%	-1.95%	-0.74%	0.35%	-
EPS (Basic)	4.04	3.42	2.98	2.91	2.09	2.55
EPS (Diluted)	4.02	3.39	2.96	2.89	2.08	2.55
EPS Growth	21.39%	14.53%	2.42%	38.94%	-18.33%	5.24%
Free Cash Flow	1,341	1,489	1,445	1,594	1,297	1,324
Free Cash Flow Per Share	3.30	3.59	3.42	3.69	2.98	3.06
Dividend Per Share	1.460	1.310	1.110	0.920	0.600	-
Dividend Growth	15.87%	18.02%	20.65%	53.33%	-	-
Gross Margin	30.00%	29.55%	28.81%	29.48%	29.80%	29.17%
Operating Margin	16.37%	15.79%	15.32%	15.18%	15.04%	14.89%
Profit Margin	11.48%	9.90%	9.16%	8.71%	7.10%	8.41%
Free Cash Flow Margin	9.44%	10.48%	10.56%	11.15%	10.17%	10.09%
EBITDA	2,507	2,437	2,287	2,374	2,109	2,133
EBITDA Margin	17.65%	17.15%	16.71%	16.60%	16.53%	16.26%
D&A For EBITDA	181	193	191	203	191	180
EBIT	2,326	2,244	2,096	2,171	1,918	1,953
EBIT Margin	16.37%	15.79%	15.32%	15.18%	15.04%	14.89%
Effective Tax Rate	15.15%	26.24%	27.49%	27.59%	30.11%	31.92%
Revenue as Reported	14,206	14,209	13,685	14,298	12,756	13,118

Source: S&P Capital IQ. Standard template. Financial Sources.