Otis Worldwide Corp
otis.comWhat Do They Do?
Maintains, repairs and modernizes elevators and escalators for building operators; also sells and installs elevators, escalators and moving walkways for developers and contractors.
10-K for FY2025, filed Feb 5, 2026Through our Service segment, we perform maintenance and repair services, as well as modernization services to upgrade elevators and…View ↗
Service customers typically comprise building owners, facility managers, housing associations and government agencies that operate…View ↗
Through our New Equipment segment, we design, manufacture, sell and install a wide range of passenger and freight elevators, as well as…View ↗
Our New Equipment customers include real estate and building developers and general contractors who develop and/or design buildings for…View ↗
How Do They Make Money?
New-equipment buyers typically pay an advance, then make progress payments as materials arrive and installation is completed. Other customer payments follow contract terms and may be made in advance, as work progresses or upon completion.
10-K for FY2025, filed Feb 5, 2026
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10-K for FY2025, filed Feb 5, 2026
FY2025 revenue by product or service ↗
$14.4B
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10-K for FY2025, filed Feb 5, 2026
$14.4B ↗
| Segment | Share | Revenue |
|---|---|---|
|
New Equipment
|
35%
FY2022: 43%
|
New Equipment, FY2025
$5B Sources
|
|
Maintenance and Repair
|
53%
FY2022: 47%
|
Maintenance and Repair, FY2025
$7.6B Sources
|
|
Modernization
|
13%
FY2022: 10%
|
Modernization, FY2025
$1.9B Sources
|
Who Are Their Customers?
Building operators buy services directly; developers, contractors and government agencies generally buy new equipment directly, with agents and distributors supplementing sales in China and some other geographies.
10-K for FY2025, filed Feb 5, 2026Our New Equipment customers include real estate and building developers and general contractors who develop and/or design buildings for…View ↗
Through our Service segment, we perform maintenance and repair services, as well as modernization services to upgrade elevators and…View ↗
Service customers typically comprise building owners, facility managers, housing associations and government agencies that operate…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 10 cents of every revenue dollar as net income in FY2025 and turned 10 cents into free cash flow.
10-K for FY2025, filed Feb 5, 2026
$2.1BView ↗
10-K for FY2025, filed Feb 5, 2026
$1.4BView ↗
10-K for FY2025, filed Feb 5, 2026
$1.4BView ↗
How Are They Changing?
Flat. Revenue was $14.4B in FY2025, about the same as the $14.3B of FY2021.
Who Do They Compete With?
Competes with KONE, Schindler Group, and TK Elevator
10-K for FY2025, filed Feb 5, 2026We operate in a highly competitive industry. Due to the global and localized nature of the industry, there are numerous participants of…View ↗
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