Industrials · Industrial Machinery & Supplies & Components · US stock · price as of 22 Oct 2026
Key indicators
Price
$75.60
52-week range
$63.58 – $94.57
Market cap
$29.0B
P/E (trailing)
19.5×
EV / EBITDA
14.9×
Free-cash-flow yield
5.9%
Dividend yield
2.3%
Revenue (last 12 months)
$14.9B
Revenue growth (3y a year)
1.8%
Operating margin
15.4%
Return on invested capital
92.9%
Net debt / EBITDA
3.1×
Fair value
Fair value (average of valid models)$80.83 middle half of models $78 – $86
Versus priceFair+7% to fair value
P/E multiple
$79.89
P/S multiple
$98.33
EV/EBITDA multiple
$83.91
EV/EBIT multiple
$90.73
EV/revenue multiple
$91.57
10-year DCF, EBITDA exit
$84.69
5-year DCF, EBITDA exit
$84.72
10-year DCF, revenue exit
$85.58
5-year DCF, revenue exit
$85.66
10-year DCF, growth exit
$68.20
5-year DCF, growth exit
$64.69
Dividend discount, stable
$51.55
Dividend discount, multi-stage
$76.84
Earnings power value
$85.19
Model uncertainty
Medium
X-Ray Score
55/ 100 · High confidence · ahead of 64% of sector peers
Valuation79
Growth31
Profitability75
Financial health22
Dividends57
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Otis makes, installs and services elevators and escalators for buildings around the world. It earns money in two ways: selling and installing new equipment for construction projects, and providing maintenance, repair and modernization services for the large base of units it already has in operation. Service contracts are typically recurring and make up a large portion of the business, which supports steadier income than new construction alone.
The company reported revenue of $14.9 billion over the last twelve months. The three-year revenue growth rate is 1.8% a year. Profitability shows an operating margin of 15.4% and a return on invested capital of 93%. Net debt stands at 3.1 times EBITDA. Shareholders receive a dividend, yielding 2.3%.
StocksXray gives Otis Worldwide Corp an X-Ray Score of 55 out of 100 (high confidence), ahead of 64% of the S&P 500 stocks in its sector. Its strongest lens is valuation (79) and its weakest is financial health (22).
Our fair value (the average of the valid models) is $80.83 (range $77.60 to $85.64). At $75.60 the stock trades 6% below that value, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Otis Worldwide Corp (OTIS)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$80.36
$73.32
$85.08
$89.48
$85.91
$75.60
Market cap
$34.7B
$31.0B
$35.3B
$36.2B
$33.9B
$29.0B
P/E
27.8×
24.8×
25.1×
22.0×
24.5×
19.5×
EV / revenue
2.9×
2.7×
2.9×
3.0×
2.8×
2.5×
EV / EBITDA
17.7×
16.5×
17.2×
19.3×
17.7×
15.0×
Price / free cash flow
21.7×
21.5×
23.7×
25.2×
23.5×
16.9×
Free-cash-flow yield
4.6%
4.7%
4.2%
4.0%
4.3%
5.9%
Price / book
–
–
–
–
–
–
Dividend yield
1.14%
1.51%
1.54%
1.69%
1.92%
2.28%
Fundamentals checklist ● 4 Good · ● 5 Average · ● 6 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−3.2%Average
Free-cash-flow yield5.9%Good
Risk models
Altman Z score0.2×Bad
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)5.7%Average
Free-cash-flow growth (3y)−0.0%Bad
Revenue growth (3y)1.8%Bad
Growth consistency70%Average
Balance sheet
Current ratio0.8×Bad
Net debt / EBITDA3.1×Bad
Interest cover10.0×Bad
Valuation
Fair value vs price1.1×Good
EBIT / EV yield6.2%Good
Profitability
Return on invested capital92.9%Good
Operating margin15.4%Average
Red flags
Negative equity — Book equity is negative
Negative equity — Book equity is negative
Negative equity — Book equity is negative
Negative equity — Book equity is negative
Negative equity — Book equity is negative
XStocksXray
Otis Worldwide Corp (OTIS)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
14,298
13,685
14,209
14,261
14,431
14,911
Gross profit
–
–
–
–
–
–
Operating income
2,108
2,033
2,186
2,008
2,133
2,289
Net income
1,246
1,253
1,406
1,645
1,384
1,516
Diluted EPS ($)
2.89
2.96
3.39
4.07
3.50
3.89
Free cash flow
1,594
1,445
1,489
1,437
1,444
1,712
Gross margin
–
–
–
–
–
–
Operating margin
14.7%
14.9%
15.4%
14.1%
14.8%
15.4%
Net margin
8.7%
9.2%
9.9%
11.5%
9.6%
10.2%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
12,279
9,819
10,117
11,316
10,653
11,156
Cash
1,565
1,189
1,274
2,300
1,096
813
Total debt
7,273
6,862
6,898
8,324
7,956
8,436
Equity
-3,625
-4,870
-4,924
-4,848
-5,392
-5,748
Dividend per share ($)
0.92
1.11
1.31
1.51
1.65
1.70
Revenue and net income US$ billions: navy revenue, teal net income
Margins blue gross, teal operating, brown net
Latest quarters
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026
Jun 2026
Revenue ($M)
3,350
3,595
3,690
3,796
3,566
3,859
Growth vs a year earlier
−2.5%
−0.2%
+4.0%
+3.3%
+6.4%
+7.3%
Net income ($M)
243
393
374
374
340
428
Diluted EPS ($)
0.61
0.99
0.95
–
0.87
1.12
XStocksXray
Otis Worldwide Corp (OTIS)
Peers in Industrial Machinery & Supplies & Components
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
