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Otis Worldwide (OTIS) Revenue & Revenue Breakdown

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Otis Worldwide Revenue Highlights

Latest Revenue (Y)

$14.21B

Latest Revenue (Q)

$3.55B

Main Segment (Y)

Service

Main Geography (Y)

Other

Otis Worldwide Revenue by Period

Otis Worldwide Revenue by Year

DateRevenueChange
2023-12-31$14.21B3.83%
2022-12-31$13.69B-4.29%
2021-12-31$14.30B12.09%
2020-12-31$12.76B-2.76%
2019-12-31$13.12B1.57%
2018-12-31$12.91B4.80%
2017-12-31$12.32B-

Otis Worldwide generated $14.21B in revenue during NA 2023, up 3.83% compared to the previous quarter, and up 110.02% compared to the same period a year ago.

Otis Worldwide Revenue by Quarter

DateRevenueChange
2024-09-30$3.55B-1.47%
2024-06-30$3.60B4.77%
2024-03-31$3.44B-5.06%
2023-12-31$3.62B2.75%
2023-09-30$3.52B-5.30%
2023-06-30$3.72B11.18%
2023-03-31$3.35B-2.70%
2022-12-31$3.44B2.84%
2022-09-30$3.34B-4.13%
2022-06-30$3.49B2.17%
2022-03-31$3.41B-4.34%
2021-12-31$3.57B-1.41%
2021-09-30$3.62B-2.19%
2021-06-30$3.70B8.60%
2021-03-31$3.41B-2.43%
2020-12-31$3.49B6.88%
2020-09-30$3.27B7.89%
2020-06-30$3.03B2.12%
2020-03-31$2.97B-11.54%
2019-12-31$3.35B1.21%
2019-09-30$3.31B-1.13%
2019-06-30$3.35B8.06%
2019-03-31$3.10B-

Otis Worldwide generated $3.55B in revenue during Q3 2024, up -1.47% compared to the previous quarter, and up 95.38% compared to the same period a year ago.

Otis Worldwide Revenue Breakdown

Otis Worldwide Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 23Dec 22Dec 21Dec 20
Product$5.81B$5.86B$6.43B$5.37B
Service$8.40B$7.82B$7.87B$7.38B
Service, Modernization$1.53B$1.43B$1.40B$1.34B
Service, Maintenance And Repair$6.87B$6.39B$6.47B$6.05B

Otis Worldwide's latest annual revenue breakdown by segment (product or service), as of Dec 23: Service (37.15%), Service, Maintenance And Repair (30.39%), Product (25.71%), and Service, Modernization (6.75%).

Quarterly Revenue by Product

Product/ServiceSep 24Jun 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20
Services$2.24B$2.18B$2.15B---------------
New Equipment$1.31B$1.42B$1.47B---------------
Service, Modernization--$400.00M$373.00M$394.00M$360.00M$369.00M$342.00M$358.00M$359.00M$363.00M$331.00M$357.00M$347.00M$363.00M$330.00M$312.00M$333.00M
Service, Maintenance And Repair--$1.75B$1.72B$1.72B$1.68B$1.61B$1.55B$1.60B$1.63B$1.64B$1.61B$1.62B$1.60B$1.60B$1.51B$1.42B$1.51B
Service--$2.15B$2.09B$2.12B$2.04B$1.98B$1.90B$1.95B$1.99B$2.01B$1.94B$1.97B$1.95B$1.96B$1.84B$1.74B$1.84B
Product--$1.47B$1.44B$1.60B$1.31B$1.46B$1.45B$1.53B$1.42B$1.56B$1.68B$1.73B$1.46B$1.53B$1.42B$1.29B$1.12B

Otis Worldwide's latest quarterly revenue breakdown by segment (product or service), as of Sep 24: Services (63.11%), and New Equipment (36.89%).

Otis Worldwide Revenue Breakdown by Country

Annual Revenue by Country

CountryDec 23Dec 22Dec 21Dec 20
UNITED STATES$4.03B$3.83B$3.70B$3.46B
CHINA$2.44B$2.57B$2.88B$2.13B
Other$7.74B$7.28B$7.72B$7.16B

Otis Worldwide's latest annual revenue breakdown by geography, as of Dec 23: Other (54.44%), UNITED STATES (28.36%), and CHINA (17.20%).

Quarterly Revenue by Country

CountrySep 24Jun 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20
UNITED STATES$1.06B$1.06B$1.01B$1.00B$1.03B$976.00M$961.00M$943.00M$953.00M$977.00M$898.00M$927.00M$939.00M$936.00M$912.00M$855.00M$805.00M$890.00M
CHINA$469.00M$542.00M$612.00M$596.00M$735.00M$501.00M$622.00M$672.00M$711.00M$568.00M$701.00M$811.00M$803.00M$562.00M$578.00M$624.00M$613.00M$319.00M
Other$2.02B$1.99B$1.99B$1.92B$1.95B$1.87B$1.86B$1.73B$1.82B$1.87B$1.97B$1.88B$1.96B$1.91B$2.00B$1.79B$1.61B$1.76B

Otis Worldwide's latest quarterly revenue breakdown by geography, as of Sep 24: Other (56.96%), UNITED STATES (29.82%), and CHINA (13.22%).

Otis Worldwide Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
ETNEaton$23.20B$6.34B
PHParker-Hannifin$19.93B$4.90B
EMREmerson Electric$17.49B$4.38B
ITWIllinois Tool Works$16.11B$3.97B
OTISOtis Worldwide$14.21B$3.55B
DOVDover$8.44B$1.98B
IRIngersoll Rand$6.88B$1.86B
FLSFlowserve$4.32B$357.07M
PNRPentair$4.10B$993.40M
AOSA. O. Smith$3.85B$902.60M
IEXIDEX$3.27B$798.20M

OTIS Revenue FAQ

What is Otis Worldwide’s yearly revenue?

Otis Worldwide's yearly revenue for 2023 was $14.21B, representing an increase of 3.83% compared to 2022. The company's yearly revenue for 2022 was $13.68B, representing a decrease of -4.29% compared to 2021. OTIS's yearly revenue for 2021 was $14.3B, representing an increase of 12.09% compared to 2020.

What is Otis Worldwide’s quarterly revenue?

Otis Worldwide's quarterly revenue for Q3 2024 was $3.55B, a -1.47% decrease from the previous quarter (Q2 2024), and a 0.71% increase year-over-year (Q3 2023). The company's quarterly revenue for Q2 2024 was $3.6B, a 4.77% increase from the previous quarter (Q1 2024), and a -3.20% decrease year-over-year (Q2 2023). OTIS's quarterly revenue for Q1 2024 was $3.44B, a -5.06% decrease from the previous quarter (Q4 2023), and a 2.72% increase year-over-year (Q1 2023).

What is Otis Worldwide’s revenue growth rate?

Otis Worldwide's revenue growth rate for the last 3 years (2021-2023) was -0.62%, and for the last 5 years (2019-2023) was 8.32%.

What are Otis Worldwide’s revenue streams?

Otis Worldwide's revenue streams in c 23 are Product, Service, Service, Modernization, and Service, Maintenance And Repair. Product generated $5.81B in revenue, accounting 25.71% of the company's total revenue, down -0.89% year-over-year. Service generated $8.4B in revenue, accounting 37.15% of the company's total revenue, up 7.36% year-over-year. Service, Modernization generated $1.53B in revenue, accounting 6.75% of the company's total revenue, up 6.93% year-over-year. Service, Maintenance And Repair generated $6.87B in revenue, accounting 30.39% of the company's total revenue, up 7.46% year-over-year.

What is Otis Worldwide’s main source of revenue?

For the fiscal year ending Dec 23, the largest source of revenue of Otis Worldwide was Service. This segment made a revenue of $8.4B, representing 37.15% of the company's total revenue.