Otis Worldwide Corporation (OTIS)
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About
Otis is the largest global elevator and escalator supplier by revenue with around 18% global market share. In 1854 Otis' founder and namesake Elisha Graves Otis, invented a safety mechanism that prevented elevators from falling if the hoisting cable failed. The company's product and service lifecycle begins with installations of elevator units in new buildings, later selling maintenance services on the units, and eventually replacement of the units after the average 15- to 20-year useful life of an elevator. As the largest global OEM, Otis has amassed an installed base under service that exceeds 2 million elevators. Its business model is similar to that of its closest competitors Kone, Schindler, and TK Elevator.
Key Insights
Share Price
$103.02Market Cap
$41.27 BillionTotal Outstanding Shares
400.56 Million SharesTotal Employees
71,000Dividend
$0.39 Per Share QuarterlyIPO Date
March 18, 2020SIC Description
Electronic & Other Electrical Equipment (no Computer Equip)Homepage
https://www.otis.com
Historical Stock Splits
| Execution Date | Split Amount |
|---|---|
| No Historical Stock Splits | |
Cash Flow Statement
April 1, 2024 to June 30, 2024
| Metric | Value |
|---|---|
| Net Cash Flow, Continuing | $78.00 Million |
| Net Cash Flow From Investing Activities | $-18.00 Million |
| Net Cash Flow From Financing Activities | $-212.00 Million |
| Net Cash Flow From Investing Activities, Continuing | $-18.00 Million |
| Net Cash Flow From Operating Activities, Continuing | $308.00 Million |
| Exchange Gains/Losses | $-14.00 Million |
| Net Cash Flow From Operating Activities | $308.00 Million |
| Net Cash Flow From Financing Activities, Continuing | $-212.00 Million |
| Net Cash Flow | $64.00 Million |
Income Statement
April 1, 2024 to June 30, 2024
| Metric | Value |
|---|---|
| Benefits Costs and Expenses | $3.06 Billion |
| Research and Development | $39.00 Million |
| Selling, General, and Administrative Expenses | $449.00 Million |
| Income/Loss From Continuing Operations After Tax | $450.00 Million |
| Operating Income/Loss | $570.00 Million |
| Participating Securities, Distributed And Undistributed Earnings/Loss, Basic | $0.00 |
| Revenues | $3.60 Billion |
| Basic Earnings Per Share | $1.03 |
| Diluted Average Shares | $405.50 Million |
| Operating Expenses | $3.03 Billion |
| Diluted Earnings Per Share | $1.02 |
| Net Income/Loss Attributable To Redeemable Noncontrolling Interest | $0.00 |
| Other Operating Expenses | $2.54 Billion |
| Net Income/Loss Attributable To Noncontrolling Interest | $35.00 Million |
| Net Income/Loss Available To Common Stockholders, Basic | $415.00 Million |
| Income Tax Expense/Benefit | $94.00 Million |
| Common Stock Dividends | $0.39 |
| Net Income/Loss | $450.00 Million |
| Basic Average Shares | $402.90 Million |
| Preferred Stock Dividends And Other Adjustments | $0.00 |
| Income Tax Expense/Benefit, Deferred | $-41.00 Million |
| Net Income/Loss Attributable To Parent | $415.00 Million |
| Income/Loss From Continuing Operations Before Tax | $544.00 Million |
| Costs And Expenses | $3.01 Billion |
Balance Sheet
April 1, 2024 to June 30, 2024
| Metric | Value |
|---|---|
| Current Assets | $6.24 Billion |
| Long-term Debt | $6.83 Billion |
| Other Non-current Assets | $2.58 Billion |
| Other Current Assets | $5.63 Billion |
| Inventory | $605.00 Million |
| Other Non-current Liabilities | $19.00 Million |
| Assets | $9.86 Billion |
| Redeemable Noncontrolling Interest | $52.00 Million |
| Current Liabilities | $7.89 Billion |
| Noncurrent Assets | $3.62 Billion |
| Equity Attributable To Parent | $-5.05 Billion |
| Fixed Assets | $708.00 Million |
| Intangible Assets | $330.00 Million |
| Equity Attributable To Noncontrolling Interest | $112.00 Million |
| Liabilities And Equity | $9.86 Billion |
| Equity | $-4.93 Billion |
| Other Current Liabilities | $6.18 Billion |
| Temporary Equity | $52.00 Million |
| Accounts Payable | $1.72 Billion |
| Liabilities | $14.74 Billion |
| Noncurrent Liabilities | $6.84 Billion |
Historical Dividends
Current dividend: $0.39 Per Share Quarterly
| Announcement Date | Payment Date | Record Date | Amount | Frequency |
|---|---|---|---|---|
| Jul 25, 2024 | Sep 6, 2024 | Aug 16, 2024 | $0.39 | Quarterly |
| Apr 23, 2024 | Jun 7, 2024 | May 17, 2024 | $0.39 | Quarterly |
| Feb 1, 2024 | Mar 8, 2024 | Feb 16, 2024 | $0.34 | Quarterly |
| Oct 26, 2023 | Dec 8, 2023 | Nov 17, 2023 | $0.34 | Quarterly |
| Jul 27, 2023 | Sep 8, 2023 | Aug 18, 2023 | $0.34 | Quarterly |
| Apr 25, 2023 | Jun 9, 2023 | May 19, 2023 | $0.34 | Quarterly |
| Feb 2, 2023 | Mar 10, 2023 | Feb 17, 2023 | $0.29 | Quarterly |
| Oct 27, 2022 | Dec 10, 2022 | Nov 18, 2022 | $0.29 | Quarterly |
| Jul 28, 2022 | Sep 10, 2022 | Aug 19, 2022 | $0.29 | Quarterly |
| Apr 22, 2022 | Jun 10, 2022 | May 20, 2022 | $0.29 | Quarterly |
| Feb 3, 2022 | Mar 10, 2022 | Feb 18, 2022 | $0.24 | Quarterly |
| Oct 28, 2021 | Dec 10, 2021 | Nov 19, 2021 | $0.24 | Quarterly |
| Jul 29, 2021 | Sep 10, 2021 | Aug 20, 2021 | $0.24 | Quarterly |
| Apr 19, 2021 | Jun 10, 2021 | May 21, 2021 | $0.24 | Quarterly |
| Feb 4, 2021 | Mar 10, 2021 | Feb 12, 2021 | $0.2 | Quarterly |
| Sep 18, 2020 | Dec 10, 2020 | Nov 20, 2020 | $0.2 | Quarterly |
| Jul 27, 2020 | Sep 10, 2020 | Aug 21, 2020 | $0.2 | Quarterly |
| May 6, 2020 | Jun 10, 2020 | May 22, 2020 | $0.2 | Quarterly |
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