Otis Worldwide
OTIS on NYSE. Otis sells elevators and escalators to building developers and government agencies. Market value $25.1bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Industrials stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $6.83 of spare cash in the past 12 months. A savings account pays about $4.
You pay 14.3 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 135 cents a year. Above 10 is good.
Quality score: 69 of 100. Price score: 95 of 100. Our list needs 70 on quality and 60 on price.
$65.88 a share, 4% above its 1-year low
Over the past year the price has ranged from $63.58 to $94.57.
Dividend: 2.6% a year
Paid every year for at least 5 years
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $14.3bn | $13.7bn | $14.2bn | $14.3bn | $14.4bn |
| Operating margin | |||||
| Operating margin | 14.7% | 14.9% | 15.4% | 14.1% | 14.8% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.41bn | 0.41bn | 0.40bn | 0.39bn | 0.38bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)6 of 7 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsSlow, 2.5% a year
- Buying back its own sharesYes, 8% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $3.9 billion last quarter, up 7% on a year ago.
- Profit: $428 million, up 9% on a year ago.
- It keeps 15 cents of each $1 of sales as operating profit, up from 13 cents a year earlier.
- Spare cash over the past 12 months: $1.7 billion, up from $1.3 billion.
- 3% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $7.6 billion more than cash, up from $7.1 billion a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $3.5bn |
| December 2024 | $3.7bn |
| March 2025 | $3.4bn |
| June 2025 | $3.6bn |
| September 2025 | $3.7bn |
| December 2025 | $3.8bn |
| March 2026 | $3.6bn |
| June 2026 | $3.9bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $540m |
| December 2024 | $337m |
| March 2025 | $243m |
| June 2025 | $393m |
| September 2025 | $374m |
| December 2025 | $374m |
| March 2026 | $340m |
| June 2026 | $428m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 28 October 2026
- Last annual report (10-K)
- 5 February 2026
- Next quarterly (estimated, 10-Q)
- 22 October 2026
Who owns it
10 long-term investors we follow own it, down from 11 last quarter. 1,225 funds in all.
- Boston PartnersBoston Partners team
- Value
- $24m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Scharf InvestmentsBrian Krawez | $72m | 2.4% | Cut |
| Gates Capital ManagementJeff Gates | $62m | 2.0% | Added |
| First Eagle Investment ManagementMatthew McLennan | $29m | <0.1% | Added |
| Gotham Asset ManagementJoel Greenblatt | $25m | <0.1% | Added |
| Boston PartnersBoston Partners team | $24m | <0.1% | |
| Markel GroupTom Gayner | $10m | <0.1% | Added |
| Veritas Asset ManagementAndy Headley | $8m | 0.1% | New |
| First Manhattan Co.First Manhattan partners | $2m | <0.1% | Cut |
| Clarkston Capital PartnersJeff Hakala | $1m | 0.1% | Cut |
| Dodge & CoxDodge & Cox investment committee | $373,036 | <0.1% | Cut |
Sold out this quarter
- FundsmithTerry SmithSold out
- GAMCO InvestorsMario GabelliSold out
Largest holders overall
- BlackRock$2.3bn
- Vanguard Capital Management$1.8bn
- Vanguard Portfolio Management$1.4bn
- State Street$1.2bnAdded
- Geode Capital Management$906m
- Franklin Resources$844mAdded
- Morgan Stanley$785mCut
- FMR$724mAdded
- Norges Bank$616mNew
- Clearbridge Investments$534mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- Vanguard Capital ManagementPassive investor7.5%Since 31 March 2026
- BlackRock, Inc.Passive investor6.8%Since 31 March 2025
- Vanguard Portfolio ManagementPassive investor5.1%Since 31 March 2026
- AllianceBernstein L.P.Passive investorSold down below 5%Since 31 March 2025
- JPMORGAN CHASE & CO.Passive investorSold down below 5%Since 29 August 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Vanguard Capital Management Passive investor | 7.5% | 31 March 2026 | |
BlackRock, Inc. Passive investor | 6.8% | 31 March 2025 | |
Vanguard Portfolio Management Passive investor | 5.1% | 31 March 2026 | |
AllianceBernstein L.P. Passive investor | Sold down below 5% | 31 March 2025 | |
JPMORGAN CHASE & CO. Passive investor | Sold down below 5% | 29 August 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 6 sold $17m, $9m of it under preset trading plans.
- Lefebure Thibault Pierre MariePresident, Otis EMEASold
- Date
- 7 May 2026
- Shares
- 1,628
- Price
- $76.89
- Value
- $125,177
- de Montlivault StephanePresident, Otis Asia PacificSold
- Date
- 12 February 2026
- Shares
- 47,944
- Price
- $92.25
- Value
- $4m
- Ryan Michael PatrickSVP, CAO & ControllerSold
- Date
- 10 February 2026
- Shares
- 1,182
- Price
- $90.06
- Value
- $106,451
- LaFreniere Nora E.EVP, General CounselSold
- Date
- 10 February 2026
- Shares
- 27,418
- Price
- $90.38
- Value
- $2m
- Marks Judith FranChair, CEO and President, DirectorSoldunder a preset trading plan
- Date
- 5 February 2026
- Shares
- 56,107
- Price
- $90.89
- Value
- $5m
- Marks Judith FranChair, CEO and President, DirectorSoldunder a preset trading plan
- Date
- 4 February 2026
- Shares
- 46,780
- Price
- $89.57
- Value
- $4m
- Green NeilEVP & Chief Digital OfficerSold
- Date
- 2 February 2026
- Shares
- 6,000
- Price
- $86.45
- Value
- $518,700
- Ryan Michael PatrickSVP, CAO & ControllerSold
- Date
- 5 November 2025
- Shares
- 3,028
- Price
- $91.69
- Value
- $277,637
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 7 May 2026 | Lefebure Thibault Pierre Marie President, Otis EMEA | Sold | 1,628 | $76.89 | $125,177 |
| 12 February 2026 | de Montlivault Stephane President, Otis Asia Pacific | Sold | 47,944 | $92.25 | $4m |
| 10 February 2026 | Ryan Michael Patrick SVP, CAO & Controller | Sold | 1,182 | $90.06 | $106,451 |
| 10 February 2026 | LaFreniere Nora E. EVP, General Counsel | Sold | 27,418 | $90.38 | $2m |
| 5 February 2026 | Marks Judith Fran Chair, CEO and President, Director | Sold under a preset trading plan | 56,107 | $90.89 | $5m |
| 4 February 2026 | Marks Judith Fran Chair, CEO and President, Director | Sold under a preset trading plan | 46,780 | $89.57 | $4m |
| 2 February 2026 | Green Neil EVP & Chief Digital Officer | Sold | 6,000 | $86.45 | $518,700 |
| 5 November 2025 | Ryan Michael Patrick SVP, CAO & Controller | Sold | 3,028 | $91.69 | $277,637 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 5 Feb 2026, plus the 10-Q filed 23 Jul 2026 and 5 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It owes more than it owns on paper (negative equity). Often that's from borrowing to buy back shares.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.